Hebrew Free Loan Society Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It reported loans to or from officers, directors or other insiders.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
THE HEBREW FREE LOAN SOCIETY (HFLS) FOSTERS ECONOMIC STABILITY AND OPPORTUNITY FOR LOWER-INCOME NEW YORKERS THROUGH INTEREST-FREE LENDING. HFLS LOANS MAKE AN IMMEDIATE, CONCRETE DIFFERENCE IN THE LIVES OF OUR BORROWERS, ENABLING THEM TO INVEST IN THEIR EDUCATION, START A BUSINESS, BUILD A FAMILY AND MEET EMERGENCY EXPENSES. HFLS IS NON-SECTARIAN; OUR BORROWERS REPRESENT NEW YORK'S DIVERSE JEWISH AND NON-JEWISH COMMUNITIES. SINCE ITS FOUNDING IN 1892 HFLS HAS PROVIDED OVER $300 MILLION IN LOANS TO MORE THAN 875,000 BORROWERS WHILE MAINTAINING A REPAYMENT RATE OF 99%. AS HFLS LOANS ARE REPAID, THE CAPITAL IS LENT OUT AGAIN AND AGAIN, HELPING MORE PEOPLE AND MULTIPLYING THE IMPACT OVER TIME.
- Income
- $6.3 million
- Spending
- $4.1 million
- Spent on programs
- 75%
- Reserves
- 73.8 months of spending
- Largest source of income
- donations and private grants, 73%
- Employees
- 23
- Volunteers
- 1
- Highest pay
- $367,957, president & ceo
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 96 out of 100. Higher than 89% of charities in its peer group (human services, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 73.8 months of spending.
Debt
16 of 20It owes 20% of what it owns.
Living within its means
15 of 15Income exceeded spending by 36% of income.
Income trend
15 of 15Income rose 7% on the year before.
Spending floor
15 of 1575% of spending went to programs and raising each dollar of donations cost 12 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 90 out of 100. Higher than 48% of charities in its peer group (human services, $1m to $10m).
Independent board
25 of 2521 of 21 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
0 of 10Reports at least one of: diversion of assets, excess benefits, loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $3.1 million spent. THE HEBREW FREE LOAN SOCIETY (HFLS) ADVANCES ECONOMIC STABILITY AND OPPORTUNITY FOR LOWER-INCOME NEW YORKERS WITHIN AND BEYOND THE JEWISH COMMUNITY BY MAKING SAFE, AFFORDABLE INTEREST-FREE LOANS. HFLS IS A NON-SECTARIAN LENDER, SERVING THE NEW YORK CITY AREA SINCE 1892. HFLS PROVIDES 0%-INTEREST LOANS TO ASSIST LOW AND MODERATE-INCOME HOUSEHOLDS WHO ARE STRUGGLING TO MANAGE SPIKES IN EXPENSES, DIPS IN INCOME, AND OTHER FINANCIAL CHALLENGES. HFLS LOANS HELP LOWER-INCOME INDIVIDUALS AND FAMILIES PAY FOR COLLEGE, GRADUATE SCHOOL, OR PROFESSIONAL TRAINING; MANAGE MEDICAL AND DENTAL EXPENSES; AFFORD MOVING COSTS AND SECURITY DEPOSITS; CONSOLIDATE AND REDUCE HIGH-INTEREST DEBT; START OR EXPAND A SMALL BUSINESS; ACCESS EXPENSIVE SPECIAL EDUCATION SERVICES FOR THEIR SPECIAL NEEDS CHILDREN; PAY IMMIGRATION AND LEGAL FEES; AND MORE. AT END OF FY25, HFLS HAD 4,490 LOANS OUTSTANDING TOTALING $39.9 MILLION; IN FY25 ALONE, HFLS DISBURSED 1,813 LOANS TOTALING MORE THAN $31 MILLION.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since December 1926.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.