Financial Information

Financial Summary and Outlook

During fiscal year 2010, Community First Fund preserved its strong financial position.  Assets grew by 8%, to over $18.7 million.  The increase was due to the growth in loans receivable to $15 million, an increase of over $2 million over the prior year.  The growth in lending is attributed mainly to our expanding portfolio in commercial real estate and larger business loans.  At the same time, we maintained our commitment to microlending for small and start-up entrepreneurs with 52 loans totaling over $2,252,394.  While increasing our loan portfolio, we continued to maintain low loan losses at under 4%.

Net Assets also grew to $4.9 million.  This equity level allows adequate resources for our continued growth.  The organization’s revenue grew by 5% as earned income (interest and fees) increased to more than $1.2 million.  This increase in earned income provides us a high degree of self-sufficiency and allows Community First to maintain the delivery of loan products and other services.  Total Financing Capital grew to $16.9 million, while Operating Liquidity Ratio and Current Ratio were 2.9 and 2.33, respectively, which continue to exceed the industry averages.

Financing Capital Growth and Source

CARSTM (CDFI Assessment Rating System)

In 2005, Community First Fund was one of the first organizations in the country 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 impact 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…”

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.