PLATINUM2024

Dallas Hebrew Free Loan Association

A Hand-Up Not A Handout

aka Dallas Hebrew Free Loan Association   |   Dallas, TX   |  http://www.dhfla.org
GuideStar Charity Check

Dallas Hebrew Free Loan Association

EIN: 51-0148138


Mission

The Mission of the Dallas Hebrew Free Loan Association (DHFLA) is to assist members of the Greater North Texas Jewish Community who are in need of financial assistance by providing no interest loans for adoption, college and graduate school, emergencies, fertility treatments, general assistance, healthcare, Jewish burials, Jewish experiences, small businesses, and special needs. We assist members of the Jewish community as they navigate difficult times and bring their dreams to fruition. DHFLA is unique in that contributed dollars live on in perpetuity. Loans are repaid and loaned out again and again, making a difference in so many peoples lives. Since funds are recycled, donations have a lasting impact.

Ruling year info

1939

President

Mr. Michael Radoff

Main address

PO Box 671235

Dallas, TX 75367 USA

Show more contact info

EIN

51-0148138

Subject area info

Microfinance

Judaism

Community improvement

Population served info

Children and youth

Adults

Jewish people

NTEE code info

Community, Neighborhood Development, Improvement (S20)

Public, Society Benefit - Multipurpose and Other N.E.C. (W99)

Financial Counseling, Money Management (P51)

What we aim to solve

SOURCE: Self-reported by organization

In October 2022, CNBC reported that 63% of Americans - including nearly half of six-figure earners - are living paycheck to paycheck. That means that for millions of Americans, including members of the Greater North Texas Jewish communities, one problem with a car, one broken water heater, or one minor medical issue can create a financial emergency. DHFLA's no interest loans help people in our community tackle difficult financial situations with dignity without having to rely on high-interest options to do so. By offering loans rather than charity, DHFLA helps people become, and remain, self-sufficient.

Our programs

SOURCE: Self-reported by organization

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

Emergency Loans

Zero interest loans up to $1,500 for emergency needs for qualified applicants, no guarantor required.

Population(s) Served
Jewish people
Adults

No interest loans of up to $10,00 to help with a variety of needs such as rent, car purchases or repairs, tax payments, payoff of high-interest debt, etc.

Population(s) Served
Jewish people
Adults

Interest-free loans for Jewish students for undergraduate and graduate studies. Loans can be applied to tuition, housing and books. Loans are $4,000 per semester, up to eight (8) semesters or four years of study. The maximum a student can borrow over the course of their academic program is $32,000. Loans are renewable each semester with the submission of grades, a tuition statement and schedule for the following semester. Students must live in the DHFLA catchment area but can attend any higher education institution.

Population(s) Served
Jewish people
Adults
Young adults

Interest-free loans up to $20,000 to assist with the adoption of a child or fertility treatments. Available to single parent-to-be or a couple. For couples, at least one partner must be Jewish.

Population(s) Served
Adults
Jewish people

Interest-free Loans up to $3,500 to assist Jewish youth and adults with costs associated with experiences that deepen and build Jewish identity and engagement such as Jewish summer camp (day and overnight), Israel and Jewish travel, teen and youth activities, Israel gap year and study abroad programs, high school in Israel, b'nei mitzvah and conversion expenses, and koshering a home.

Population(s) Served
Adults
Children and youth
Jewish people

No interest loans up to $20,000 for small businesses in North Texas. At least one owner or partner must be Jewish.

Population(s) Served
Adults
Jewish people

Zero interest loans up to $10,000 to assist with significant out-of-pocket healthcare expenses including dental and medical expenses.

Population(s) Served
Adults
Children and youth
Jewish people

Interest-free loans up to $10,000 for children and adults with special needs and their families including diagnostic services; adaptive services and equipment; medical, mental health and psychological treatments and therapies.

Population(s) Served
Adults
Children and youth
Jewish people

No interest loans up to $10,000 to assist with costs associated with providing a Jewish burial for a loved one including funeral expenses, cemetery plots and fees, and other services associated with properly burying the deceased.

To allow families to mourn with dignity and grace without worrying about logistical concerns, funds will be sent directly to the funeral home, cemetery or burial service provider to ensure timely payment of expenses.

Population(s) Served
Adults
Jewish people

Dallas Hebrew Free Loan Association provides no interest loans up to $25,000 to help young adults consolidate and reduce the effective interest on their outstanding non-DHFLA student loans. DHFLA sends education consolidation payment directly to the lender(s).

Population(s) Served
Jewish people
Jewish people
Adults

Where we work

Affiliations & memberships

International Association of Jewish Free Loans 2020

Center for Nonprofit Management Excellence Network 2021

International Association of Jewish Free Loans 2021

International Association of Jewish Free Loans 2022

International Association oof Jewish Free Loans 2023

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of no interest loan inquiries

This metric is no longer tracked.
Totals By Year
Type of Metric

Context - describing the issue we work on

Direction of Success

Increasing

Context Notes

This metric relates to all loan programs

Number of applications for no interest loans

This metric is no longer tracked.
Totals By Year
Type of Metric

Context - describing the issue we work on

Direction of Success

Increasing

Context Notes

This metric relates to all our loan programs

Number of loans issued

This metric is no longer tracked.
Totals By Year
Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

This metric relates to all our loan programs.

Total dollar amount of loans issued

This metric is no longer tracked.
Totals By Year
Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

This metric relates to all loan programs.

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

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

DHFLA is mindful of the economic pressures facing Greater North Texas Jewish communities including high-levels of household debt and inflation. We continue to work to find ways to provide the much needed hand-up members of our communities need. A few way we are responding to provide affordable financial assistance:

Our Jewish burial loan up to $10,000 helps families bury loved ones according to Jewish tradition. We provide funding within 24 hours to ensure burial can take place in a timely fashion and only one guarantor is required.
Our Angel Program allows us to make any type of loan to qualified individuals who are only able to find one guarantor. To date, the program has enabled DHFLA to fund 15 loans which we previously would not have been able to make totaling over $133,000.
We are working to increase the size of our emergency and special needs loans to meet more of the need of borrowers requesting these loan types.
We’ve partnered with Maccabi USA to provide our Jewish experience loans as an additional funding option to help more Jewish athletes participate in World Maccabi immersive Jewish experiences.
We're expanding our marketing to ensure we are reaching the most people and encourage them to contact us if they need assistance.
We're seeking new corporate donor partners to support such programs as our higher-education loans and loans for fertility treatments.

Marketing: Email and social media campaigns that focus on a specific loan type each month and a specific giving opportunity. Annual Report that focuses on the stories of our borrowers and how we've helped. Our website blog shares news, borrower and donor stories which are then used for social media and other marketing purposes.
Partnerships: Grow our partnerships with other organizations such as the one we formed with Maccabi USA to serve both as a referral tool to reach more people who need financial assistance and new donors interested in supporting specific programs.
Loan Strategy: Continually monitor economic factors, government policies and unexpected issues such was weather events that impact lending whether it's driving inquiries, potential new needs or a need for increased loan amounts. Fundraising: Leverage peer to peer fundraising, North Texas Giving Day, and GivingTuesday. Expand outreach to new foundations and corporate sponsors for potential support. Host our second annual Zeroes Are Heroes fundraising and donor appreciation event.

We have one paid staff member and a team of board members who volunteer to support the implementation of the above activities. We also will leverage technology such as our loan management and donor management systems. We work closely with a website marketing and management firm to develop our online strategy and identify cross-marketing opportunities with other agencies or organizational partners. Given our size we feel we have all the tools we need to meet our goals.

The combination of the end of government stimulus and rising inflation drove a significant increase in loan applications in 2022. Overall, we made 37% more loans equating to 56% more funds distributed in 2022. The need for general loans to cover unexpected expenses and consolidate high-interest debt increased 46%. For the year, we distributed over $471,000 in loans–that’s $168,000 more than the total amount we distributed in 2021. We are seeing that the number of Jewish community members in need of the helping hand DHFLA provides is great and because of our donors' support, we are prepared to meet this increased need. We are proud that we ended 2022 with over $1,000,000 in loans out in the community, a milestone for our 88 year old agency. As of the end of January 2023, we have already issued $103,500 in loans.

We have already started to market our Maccabi USA partnership online and it will be featured in the Texas Jewish Post newspaper. With in two weeks of launching our communication about this partnership related to our Jewish Experience loans we receive inquiries about this loan type.

We have create marketing and social media calendars and have begun implementing them for 2023. Our board members have signed up for committees to assist with our work and we've submitted on foundation grant request and contacted a new foundation to date (as of Jan. 31, 2023).

Our loan committee will meet in February to create the proposal to increase the size of our emergency and special needs loans and will bring the proposal to the board for approval in March.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We demonstrated a willingness to learn more by reviewing resources about feedback practice.
done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback

Financials

Dallas Hebrew Free Loan Association
Fiscal year: Jan 01 - Dec 31

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

836.45

Average of 601.57 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

18.9

Average of 21.8 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

8%

Average of 6% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Dallas Hebrew Free Loan Association

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Dallas Hebrew Free Loan Association

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Dallas Hebrew Free Loan Association

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Dallas Hebrew Free Loan Association’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $67,570 $15,998 $66,251 $182,819 -$83,626
As % of expenses 58.3% 11.5% 61.3% 120.7% -55.6%
Unrestricted surplus (deficit) after depreciation $67,381 $15,809 $66,251 $182,552 -$83,626
As % of expenses 58.0% 11.3% 61.3% 120.3% -55.6%
Revenue composition info
Total revenue (unrestricted & restricted) $182,661 $155,176 $157,656 $296,879 $169,323
Total revenue, % change over prior year -24.9% -15.0% 1.6% 88.3% -43.0%
Program services revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Membership dues 4.7% 0.0% 0.0% 0.0% 0.0%
Investment income 9.7% 31.0% 6.8% 3.0% 8.7%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 84.2% 59.8% 93.2% 90.4% 91.3%
Other revenue 1.3% 9.2% 0.0% 6.5% 0.0%
Expense composition info
Total expenses before depreciation $115,908 $139,178 $108,076 $151,522 $150,398
Total expenses, % change over prior year 7.3% 20.1% -22.3% 40.2% -0.7%
Personnel 45.7% 48.9% 53.9% 71.7% 75.2%
Professional fees 8.5% 7.3% 5.3% 10.4% 5.6%
Occupancy 6.0% 4.6% 1.1% 2.2% 0.6%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 0.0% 0.0% 0.1% 0.0% 0.0%
All other expenses 39.9% 39.3% 39.6% 15.7% 18.7%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $116,097 $139,367 $108,076 $151,789 $150,398
One month of savings $9,659 $11,598 $9,006 $12,627 $12,533
Debt principal payment $0 $0 $0 $5,245 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $125,756 $150,965 $117,082 $169,661 $162,931

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 20.4 28.1 53.1 37.5 18.9
Months of cash and investments 66.9 64.0 86.9 75.4 51.3
Months of estimated liquid unrestricted net assets 155.7 131.1 176.1 140.1 134.5
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $196,711 $326,447 $478,671 $473,898 $236,827
Investments $449,201 $415,907 $303,845 $478,150 $406,402
Receivables $863,559 $782,846 $810,481 $816,933 $1,040,805
Gross land, buildings, equipment (LBE) $10,679 $10,679 $10,679 $10,679 $10,679
Accumulated depreciation (as a % of LBE) 95.7% 97.5% 97.5% 100.0% 100.0%
Liabilities (as a % of assets) 0.2% 0.2% 0.4% 0.0% 0.0%
Unrestricted net assets $1,504,470 $1,520,279 $1,586,530 $1,769,082 $1,685,456
Temporarily restricted net assets $2,350 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $2,350 $2,350 $2,350 $2,350 $0
Total net assets $1,506,820 $1,522,629 $1,588,880 $1,771,432 $1,685,456

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

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

Documents
Form 1023/1024 is not available for this organization

President

Mr. Michael Radoff

Michael (Mike) Radoff is the Chief Compliance Officer at Lgt Financial Advisors LLC based in Dallas, TX. He is a CPA. He currently serves as the president of the Dallas Hebrew Free Loan Association.

Number of employees

Source: IRS Form 990

Dallas Hebrew Free Loan Association

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Dallas Hebrew Free Loan Association

Board of directors
as of 01/22/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Michael Radoff

Arthur Skibell

Bird & Skibell PC

Stacy Barnett

David Kronick

Barbara Miskin

Mark Jacobs

Abby Fuqua

Sarah Kreditor Davis

Joshua Goldstein

Harriet Gross

Jolene Risch

Michael Radoff

Talya Shulkin

Dora Rudberg

Arona Ackermann

David Baynash

Alan Tolmas

Mark Kashar

Rachel Leventon

David Brickman

Glenna Hecht

Eric Feldman

David Feygenson

David Singer

Ellis Shwarts

Jennifer Brill

Elizabeth Feldman

Rebecca Levy

Mollie Rose

Brett Strumwasser

Brian Waxler

Carole Wolanow

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and 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 and 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? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 1/22/2024

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

Equity strategies

Last updated: 01/25/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.