Philanthropy, Voluntarism, and Grantmaking

HFLA of Northeast Ohio

Planting Seeds, Growing Communities

aka Hebrew Free Loan Association

Beachwood, OH

www.giving.interestfree.org

Mission

The mission of HFLA is to meet the needs of people in Northeast Ohio, without easy access to capital, by providing interest-free loans. In support of this mission, HFLA
-Respects the dignity and self-worth of those it serves.
-Cultivates a personal relationship with its borrowers.
-Honors the biblical directive and Jewish ideal that money be lent without charging interest.
-Loans are made on a non-sectarian basis.

Ruling Year

1942

Executive Director

Ms. Michal Marcus

Program Manager

Ms. Katy M. Fuerst

Main Address

23300 Chagrin Blvd Ste 204

Beachwood, OH 44122 USA

Keywords

Education, emergencies, small business, escape from predatory lenders, home repair, and more

EIN

34-0281800

 Number

1625782950

Cause Area (NTEE Code)

Alliance/Advocacy Organizations (T01)

Alliance/Advocacy Organizations (L01)

Alliance/Advocacy Organizations (S01)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Social Media

Blog

Programs + Results

What we aim to solve New!

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Our programs

What are the organization's current programs, how do they measure success, and who do the programs serve?

SOURCE: Self-reported by organization

General Loan Fund

Education

Escape from Predatory Lenders

Small Business Loans

Mt. Pleasant Loan Fund

Cleveland Municipal Housing Court Fund

Buckeye/Fairfax Neighborhood Loan Fund

Lorain County Interest Free Loan Fund

North Hill Interest Free Loan Fund

Where we workNew!

Our Results

How does this organization measure their results? It's a hard question but an important one. These quantitative program results are self-reported by the organization, illustrating their committment to transparency, learning, and interest in helping the whole sector learn and grow.

SOURCE: Self-reported by organization

Number of loans issued

TOTALS BY YEAR
Population(s) served

Adults,

Aging, elderly, senior citizens,

Economically disadvantaged, low-income, and poor people

Context notes

Our lending continues to grow and reach more people in Northeast Ohio without access to conventional Funds.

Total dollar amount of loans issued

TOTALS BY YEAR
Population(s) served

No target populations selected

Context notes

Amount lent interest free annually in Northeast Ohio.

Total dollar amount of grants awarded

TOTALS BY YEAR
Population(s) served

No target populations selected

Context notes

With program growth we have been focusing on working with foundations to meet the growing need in Northeast Ohio.

Percentage of loans written off

TOTALS BY YEAR
Population(s) served

No target populations selected

Context notes

We take into account up to a 3% default rate on our loans, but the past 6 years have a 1% or lower default rate.

Charting Impact

Five powerful questions that require reflection about what really matters - results.

SOURCE: Self-reported by organization

What is the organization aiming to accomplish?

What are the organization's key strategies for making this happen?

What are the organization's capabilities for doing this?

How will they know if they are making progress?

What have and haven't they accomplished so far?

We believe that interest-free loans enable Northeast Ohioans to overcome financial hurdles, pursue education, and contribute to the economic development of our community. We work for a future where everyone has access to the capital that they need to succeed.

* To ensure that all Northeast Ohioans are aware of our services.
* To have the capacity to serve all of the demand for our services.
* To be known to and trusted by all of the partners who serve our target audiences.

* HFLA is the only interest-free lender supporting all Northeast Ohioans with a need and an ability to repay.
* We help people overcome financial hurdles, pursue education, and contribute to the economic development of our community.
*
* We help people escape from predatory loans.
* We help people attend college.
* We help people develop news skill to succeed in the workforce.
* We help people purchase and repair cars so that they can get to work.
* We help people get over unexpected financial hurdles, such as a home repair, an unanticipated tax obligation, or falling behind on bills.
* We help business owners start or scale up a business when there is no easy access to other capital.

* Because HFLA lends when there are no other providers of capital, we are often the difference between success and failure for our clients.
* HFLA loans have over a 97% repayment rate. This means that the money invested in HFLA is recycled for generations.
* HFLA has made over 25,000 loans right here in Northeast Ohio.

We have less then a 3% default rate. This shows that our ability to help with relationship lending is working. We get notes from past clients of their successes, and often donations of client paying it forward.

In recent years we had plenty in our small fund to lend. For the first time in recent history we now have 90% of our loan funds deployed as well as increased call volume, and we are in danger of having to turn away people that would could help. Which shows us how needed our services are.

External Reviews

Financials

HFLA of Northeast Ohio

Fiscal year: Jan 01 - Dec 31

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  • Address, phone, website and contact information
  • Forms 990 for 2017, 2016 and 2016
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Operations

The people, governance practices, and partners that make the organization tick.

Need more info?

FREE: Gain immediate access to the following:

  • Address, phone, website and contact information
  • Forms 990 for 2017, 2016 and 2016
A Pro report is also available for this organization for $125.
Click here to see what's included.

Board Leadership Practices

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices.

SOURCE: Self-reported by organization

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?

Yes

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?

Yes

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?

Yes

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?

Not Applicable

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?

Yes

Organizational Demographics

In order to support nonprofits and gain valuable insight for the sector, GuideStar worked with D5—a five-year initiative to advance diversity, equity, and inclusion in philanthropy—in creating a questionnaire. This section is a voluntary questionnaire that empowers organizations to share information on the demographics of who works in and leads organizations. To protect the identity of individuals, we do not display sexual orientation or disability information for organizations with fewer than 15 staff. Any values displayed in this section are percentages of the total number of individuals in each category (e.g. 20% of all Board members for X organization are female).

SOURCE: Self-reported by organization

Gender

Race & Ethnicity

This organization reports that it does not collect this information.

Sexual Orientation

This organization reports that it does not collect this information.

Disability

This organization reports that it does not collect this information.

Diversity Strategies

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We track retention of staff, board, and volunteers across demographic categories
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We track income levels of staff, senior staff, and board across demographic categories
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We track the age of staff, senior staff, and board
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We track the diversity of vendors (e.g., consultants, professional service firms)
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We have a diversity committee in place
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We have a diversity manager in place
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We have a diversity plan
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We use other methods to support diversity
Diversity notes from the nonprofit
Our agency is non-sectarian and supports anyone in Northeast Ohio regardless of race or religion. Our board is of the Jewish faith, as we stem from Jewish principles of helping others to help themselves. we ensure that the members of our board are involved in the Northeast Ohio community and reach far and wide with their leadership.