Philanthropy, Voluntarism, and Grantmaking

HFLA of Northeast Ohio

  • Beachwood, OH
  • www.interestfree.org

Mission Statement

The mission of HFLA is to meet the needs of capable and able persons 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.

Main Programs

  1. General Loan Fund
  2. Education
  3. Escape from Predatory Lenders
  4. Small Business Loans
  5. Mt. Pleasant Loan Fund
  6. Cleveland Municipal Housing Court Fund
  7. Buckey/Fairfax Neighborhood Loan Fund
Service Areas

Self-reported

Ohio

We serve individuals, families and small businesses in Northeast Ohio that do not have access to conventional funds.

ruling year

1942

Executive Director since 2005

Self-reported

Ms. Michal Marcus

Program Manager since 2016

Self-reported

Ms. Katy M. Fuerst

Keywords

Self-reported

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

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Also Known As

Hebrew Free Loan Association

EIN

34-0281800

 Number

1625782950

Physical Address

23300 Chagrin Blvd Ste 204

Beachwood, 44122

Contact

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.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

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. In most cases, HFLA is the only source of support and makes the difference between success and failure for our clients. With over a 97% repayment rate, the funds that the community invests in HFLA are recycled again and again, solving problems for generations. And it works: over 25,000 lives have been transformed through HFLA's loans.

Programs

Self-reported by organization

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

Program 1

General Loan Fund

We make interest and fee free loans to people who have run into temporary difficulties.

Category

Community Development

Population(s) Served

Adults

None

Budget

Program 2

Education

Education - Undergraduate, vocational and technical training, graduate school. Gap years

Category

Education

Population(s) Served

Adults

Poor/Economically Disadvantaged, Indigent, General

None

Budget

Program 3

Escape from Predatory Lenders

Help individuals who have gotten stuck in Payday loan situations and cannot break the cycle escape with an interest free loan.

Category

Community Development

Population(s) Served

None

Budget

Program 4

Small Business Loans

Business loans for businesses that don't have access to conventional funds.

Category

Community Development

Population(s) Served

Adults

Budget

Program 5

Mt. Pleasant Loan Fund

Interest free loan fund for residents of the Mt. Pleasant neighborhood through the generosity of a grant from The Saint Luke's Foundation. This loan fund will address home repair and purchasing of side yards as well as assistance with GED education.

Category

Community Development

Population(s) Served

Adults

Ethnic/Racial Minorities -- Other Specified Group

Budget

$50,000

Program 6

Cleveland Municipal Housing Court Fund

Interest Free loans to help people cited by Cleveland Municipal Housing court in need of help to make repairs or stay in their homes. Thanks to the Generosity of the Charles & Helen Brown Memorial Fund.

Category

Community Development

Population(s) Served

Adults

Budget

$20,000

Program 7

Buckey/Fairfax Neighborhood Loan Fund

Interest free loan fund for residents of the Buckeye and Fairfax neighborhoods without access to conventional funds created through the generosity of The George Gund Foundation

Category

Community Development

Population(s) Served

Adults

Budget

$50,000

Results

Self-reported by organization

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.

1. Number of loans issued

Target Population
Adults, Aging, elderly, senior citizens, Economically disadvantaged, low-income, and poor people

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric
Our lending continues to grow and reach more people in Northeast Ohio without access to conventional Funds.

2. Total dollar amount of loans issued

Target Population
No target populations selected

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric

3. Total dollar amount of grants awarded

Target Population
No target populations selected

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric
With program growth we have been focusing on working with foundations to meet the growing need in Northeast Ohio.

4. Percentage of loans written off

Target Population
No target populations selected

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric
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.

5. Amount of donations

Target Population
No target populations selected

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric

Charting Impact

Self-reported by organization

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

  1. What is the organization aiming to accomplish?
    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.
  2. What are the organization's key strategies for making this happen?
    * 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.
  3. What are the organization's capabilities for doing this?
    * 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.
  4. How will they know if they are making progress?
    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.
  5. What have and haven't they accomplished so far?
    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.
Service Areas

Self-reported

Ohio

We serve individuals, families and small businesses in Northeast Ohio that do not have access to conventional funds.

Social Media

Funding Needs

Contributions;Grants

Videos

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

HEBREW GEMILATH CHASODIM ASSOCIATION
Fiscal year: Jan 01-Dec 31

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  • Forms 990 for 2015, 2014 and 2014
  • Board Chair and Board Members
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Operations

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

HFLA of Northeast Ohio

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2014
  • Board Chair and Board Members
  • Access to the GuideStar Community
Need the ability to download nonprofit data and more advanced search options? Consider a Premium or Pro Search subscription.

Executive Director

Ms. Michal Marcus

Program Manager

Ms. Katy M. Fuerst

Governance

BOARD CHAIR

Lisa Arlyn Lowe

HFLA of Northeast Ohio

Term: Mar 2016 - Mar 2019

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. Self-reported by organization

Yes

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?


RESPONSE NOT PROVIDED

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?


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).

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
No
We track retention of staff, board, and volunteers across demographic categories
No
We track income levels of staff, senior staff, and board across demographic categories
No
We track the age of staff, senior staff, and board
No
We track the diversity of vendors (e.g., consultants, professional service firms)
No
We have a diversity committee in place
No
We have a diversity manager in place
No
We have a diversity plan
No
We use other methods to support diversity