Financial Information

Financial Summary and Outlook

During fiscal year 2007, Community First Fund continued to maintain its strong financial position.  Assets grew by 32% and now are more than $12 million.  This growth was due to an increase in assets under management to $10.2 million, an increase of more than $2.9 million.  This growth in lending is attributed in part to Community First Fund’s expanding portfolio that includes commercial real estate loans and larger business loans.  At the same time, Community First Fund has maintained its commitment to microlending for small and start-up entrepreneurs with 55 loans totaling more than $880,000.  While increasing its loan portfolio, Community First Fund maintained low loan losses at 1.6%.

Growth was also evident in net assets, which increased to more than $4 million from last year’s $3.7 million.  This equity level ensures adequate resources for Community First Fund’s continued growth.  Organizational revenues also increased from prior years, with contributions and grants increasing by more than $100,000 and earned income (interest and fees) increasing by more than 60% to $743,026.  This increase in earned income ensures that Community First Fund will maintain a greater degree of self-sufficiency and ensures that the organization will maintain the delivery of loan products and other services.

CARSTM (CDFI Assessment Rating System)

In 2005, Community First Fund was one of the first organizations in the county to participate in CARSTM, the CDFI Assessment and Rating System.  This comprehensive, third-party analysis of community development financial institutions that aids investors and donors in their investment decision-making was designed by the Opportunity Finance Network. 

Community First Fund received a CARSTM rating of AA which indicates that “…this group is fundamentally sound.  It exhibits solid financial strength, performance, and risk management practices relative to its size, complexity, and risk profile…”

Investment and Donations

Where does Community First Fund get its money for loan capital?

Community First Fund has a variety of sources including investments and grants from businesses, religious organizations, financial institutions, government entities, and others.

How can I become an investor?

Community First Fund provides a great opportunity for institutional investors to invest their money into programs that support community and economic development initiatives. Contact President and CEO Daniel Betancourt for more information at dbetancourt@commfirstfund.org.

Can I give a donation to Community First Fund without becoming an investor?

Of course! Community First Fund is a 501(c)(3) non-profit organization so any and all donations are tax-deductible. Unfortunately, we cannot accept donations on-line or via credit card at this time. Please send in your donation to our Lancaster office to the attention of Tracy Smith.

Community First Fund is registered with the Pennsylvania Bureau of Charitable Organizations. The public can obtain basic information about how a charitable organization spends its contributions by calling the bureau toll free at 1-800-732-0999. They can also call this number to register complaints about improper conduct by charitable organizations, professional fundraising counsels, or professional solicitors.   Registration does not imply endorsement.