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Community Loan Fund of New Jersey Inc

EIN 22-2872262 · New Brunswick, NJ

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak40 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Raising each dollar of donations cost 69 cents.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

TO TRANSFORM AT-RISK COMMUNITIES THROUGH STRATEGIC INVESTMENTS OF CAPITAL AND KNOWLEDGE.

Income
$14.5 million
Spending
$19.3 million
Spent on programs
78%
Reserves
25.1 months of spending
Largest source of income
fees for its services, 82%
Employees
83
Volunteers
17
Highest pay
$750,909, president & chief executive officer

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 40 out of 100. Higher than 10% of charities in its peer group (community improvement, $10m to $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover 25.1 months of spending.

  • Debt

    5 of 20

    It owes 73% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 33% of income.

  • Income trend

    0 of 15

    Income fell 37% on the year before.

  • Spending floor

    0 of 15

    78% of spending went to programs and raising each dollar of donations cost 69 cents.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 42% of charities in its peer group (community improvement, $10m to $100m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 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)
  1. $15.1 million spent. COMMUNITY LOAN FUND OF NEW JERSEY (CLFNJ) TRANSFORMS AT-RISK COMMUNITIES THROUGH STRATEGIC INVESTMENTS OF CAPITAL AND KNOWLEDGE. SEE SCHEDULE O. COMMUNITY LOAN FUND OF NEW JERSEY (CLFNJ) TRANSFORMS AT-RISK COMMUNITIES THROUGH STRATEGIC INVESTMENTS OF CAPITAL AND KNOWLEDGE. IN ADDITION TO FINANCIAL PRODUCTS, LOAN SERVICING AND AFFORDABLE HOUSING DEVELOPMENT; CLFNJ PROVIDES TECHNICAL ASSISTANCE, POLICY ADVOCACY AND IMPACT ASSESSMENT RESEARCH AND STUDIES IN ORDER TO LEVERAGE POSITIVE COMMUNITY IMPACTS IN UNDERSERVED NEIGHBORHOODS. SINCE ITS INCEPTION IN 1987, CLFNJ HAS GROWN FROM A SMALL VOLUNTEER-BASED LOAN FUND OF $125,000 TO A HIGH-CAPACITY COMMUNITY DEVELOPMENT LEADER WITH OVER $682 MILLION IN CAPITAL UNDER MANAGEMENT. AS OF THE END OF FY2025, CLFNJ HAS CLOSED 1,617 LOANS TOTALING $948.83 MILLION, WHICH HAS LEVERAGED OVER $3.095 BILLION IN PUBLIC AND PRIVATE CAPITAL TO SUPPORT AFFORDABLE HOUSING, ECONOMIC DEVELOPMENT AND COMMUNITY FACILITY PROJECTS IN DISTRESSED COMMUNITIES THAT BENEFIT LOW INCOME INDIVIDUALS AND COMMUNITIES. IN FY2025, CLFNJ CLOSED 138 LOANS TOTALING $45.4 MILLION.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. 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.

  2. 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.

  3. 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.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 1988.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. 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.