Financial Summary and Outlook
During Fiscal Year 2015 Community First Fund maintained strong performance and financial health. At the end of the fiscal year, capital under management grew to $78.4 million, an increase of nearly 76%. This growth is primarily a result of the capital support of a second New Markets Tax Credit allocation of $30 million, and our strong lending activity in the core loan fund. The loan fund increased 13% in the fiscal year, rising to $27.8 million in loans outstanding. During this fiscal year we limited net loan losses to .77% of the outstanding loan fund.
Net assets of $8.6 million, as of FY 15 represented a 28% increase over the end of FY 2014. Net assets were 24.6% of total assets, ensuring resources for continued growth, and reserves for the protection of investors. We experienced a 22.4% increase in total revenue and reduced expenses 6.3%. Community First Fund’s self-sufficiency ratio at June 30, 2015 was 83.8%. This self-sufficiency measurement helps to ensure that Community First Fund maintains its ability to deliver loan products and other services to our customers.
Aeris -The independent CDFI rating System
In 2005, Community First Fund was one of the first organizations in the country to participate in Aeris, an independent 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.
In 2015 Community First Fund received an outstanding Aeris rating of AAA+2. This is an indication that our impact is among the best in the industry, our financial performance is strong and our policy and advocacy efforts are being recognized.
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. Click to learn more about how to invest in or donate to Community First Fund.|