2025-09-08T07:00:45-04:00 2023-06-30 231709427 BERTZ HESS & CO LLP 36 EAST KING ST LANCASTER PA 17602 990 2022-07-01 232689714 COMMUNITY FIRST FUND COMM 7173932351 PO BOX 524 LANCASTER PA 176080524 DANIEL BETANCOURT PRESIDENT & CEO 7173932351 2025-05-29 true true THOMAS A WOBBER CPA P01276864 7173930767 2025-05-29 2022 2025-03-06 01:10:19Z X ELIZABETH BENNETT 17328667 false X WWW.COMMUNITYFIRSTFUND.ORG X 1992 PA TO PROVIDE LOANS AND TECHNICAL ASSISTANCE TO HOUSING & ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE BENEFIT FOR LOW INCOME PERSONS AND CONTRIBUTE TO SOCIAL PROGRESS AND ECONOMIC DEVELOPMENT. 14 13 97 0 9958143 10640246 5007006 6688421 0 0 14965149 17328667 10000 644925 0 5108386 6701427 0 831553 1672856 5701088 6791242 13047440 8173907 4281227 114203035 124298152 77467167 83493413 36735868 40804739 X TO PROMOTE COMMUNITY AND WORK-BASED ECONOMIC DEVELOPMENT. THE ORGANIZATION PROVIDES LOANS FOR COMMUNITY PROJECTS AND TECHNICAL ASSISTANCE TO HOUSING & ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE BENEFIT TO LOW INCOME PERSONS AND CONTRIBUTE TO SOCIAL PROGRESS AND ECONOMIC DEVELOPMENT IN THE SOUTH CENTRAL PENNSYLVANIA REGION. ON JULY 1, 2020, THE ORGANIZATION MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND FOUNDED IN 1996. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED THE ORGANIZATION AS ITS SOLE MEMBER. BY VIRTUE OF THE ORGANIZATION BEING THE SOLE MEMBER OF FINANTA, FINANTA IS CONSIDERED A SUBSIDIARY OF THE ORGANIZATION. THE CONSOLIDATION OF THE TWO ORGANIZATIONS ADDED 19,959,381. false false 9815430 644925 5333691 COMMUNITY FIRST FUND PROMOTES COMMUNITY AND ECENOMIC DEVELOPMENT BY PROVIDING AFFORDABLE LOANS TO ENTITIES THROUGHOUT CENTRAL AND EASTERN PENNSYLVANIA, INCLUDING SMALL BUSINESSES, DEVELOPERS OF AFFORDABLE HOUSING, COMMUNITY-BASED ORGANIZATIONS, WOMEN, PEOPLE OF COLOR. ON JULY 1, 2020, COMMUNITY FIRST FUND MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED COMMUNITY FIRST FUND AS ITS SOLE MEMBER. DURING THE YEAR ENDING JUNE 30, 2023, THE ORGANIZATION CLOSED 292 NEW LOANS. THE ORGANIZATION FINANCED 638 HOUSING UNITS FOR LOW AND MODERATE INCOME INDIVIDUALS. THROUGH THE ORGANIZATIONS FINANCING EFFORTS, 1,273 JOBS WERE CREATED OR RETAINED, AND 872,393 SQUARE FEET OF BUSINESS REAL ESTATE WAS DEVELOPED OR REHABBED. IN MARCH 2020 IN RESPONSE TO THE COVID-19 PANDEMIC, THE ORGANIZATION SHIFTED ITS FOCUS TO PARTICIPATION IN AND PROMOTION OF VARIOUS GRANT AND LOAN PROGRAMS TO BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES AND OWNED BY PEOPLE OF COLOR. BY JUNE 30, 2020, THE ORGANIZATION HAD DIRECTLY PROVIDED EMERGENCY FINANCIAL RELIEF IN THE FORM OF LOW-INTEREST LOANS TO 24 BUSINESSES AND HAD MANAGED THE PROGRAM TO FUND 461 SBA PAYCHECK PROTECTION PROGRAM LOANS TOTALING 15,784,735 THROUGH ITS SUBSIDIARY COMMUNITY FIRST CAPITAL CORP. 8280 1354730 NEW MARKETS TAX CREDIT PROGRAM TO DATE THE ORGANIZATION WAS GRANTED 90 MILLION OF NEW MARKETS TAX CREDIT ALLOCATION FROM THE US TREASURY. THE ORGANIZATION HAS ENTERED INTO AGREEMENTS WITH INVESTOR MEMBERS TO FUND 14 NEW MARKETS TAX CREDIT PROJECTS THROUGHOUT CENTRAL AND EASTERN PA. SIX PROJECTS ARE REMAINING AT 6/30/2023. 9823710 true true false false false false false false false false true false true false true true false true false false false false false false false false false true false true false false false false false false false false false false false false false true true true false false true 225 0 97 true false false false false false false false false false false false false X 14 13 false false false false false false false true true false true true true true true true true true true true false PA X X THE ORGANIZATION 7173932351 51 SOUTH DUKE STREET STE 400 LANCASTER PA 17602 DANIEL BETANCOURT PRESIDENT & 60.00 0.00 X 313572 0 88684 ANTHONY PAPPION CFO 45.00 1.00 X 182938 0 12328 JOAN BRODHEAD CHIEF STRAT. 48.00 1.00 X 177389 0 9451 JAMES BUERGER HOUSING AND 50.00 1.00 X 142517 0 20338 CHRIS CASCIANO VP SALES & O 45.00 1.00 X 112822 0 15896 DRAGAN DODIK CHIEF LENDIN 47.00 1.00 X 104593 0 778 LENIN AGUDO BOARD MEMBER 1.00 0.00 X 0 0 0 JONATHAN BOWSER CHAIR 1.00 0.00 X X 0 0 0 NATALIA DOMINGUEZ BUCKLEY BOARD MEMBER 1.00 0.00 X 0 0 0 MARILYN BROWN SECRETARY 1.00 0.00 X X 0 0 0 JOSHUA DRUCE VP LOAN ADMI 40.00 1.00 X X 0 0 0 JONATHAN ENCARNACION BOARD MEMBER 1.00 0.00 X 0 0 0 DR GREGORY EDWARDS BOARD MEMBER 1.00 0.00 X 0 0 0 DANA HANCHIN BOARD MEMBER 1.00 0.00 X 0 0 0 SAMUEL T COOPER III BOARD MEMBER 1.00 0.00 X 0 0 0 CARLOS LOPEZ BOARD MEMBER 1.00 0.00 X 0 0 0 R ERIC MENZER BOARD MEMBER 1.00 0.00 X 0 0 0 LAWRENCE MCCOMIE VICE CHAIR 1.00 0.00 X X 0 0 0 ROBERT TORRES TREASURER 1.00 0.00 X X 0 0 0 VINCE TSENG BOARD MEMBER 1.00 0.00 X 0 0 0 ELIZABETH BENNETT CFO 1/1/2024 0.00 0.00 X 0 0 0 1033831 147475 6 false true false CINDY STEWART 10 N MARKET ST UNIT 402 LANCASTER PA 17603 HUMAN RESOURCES 146145 OSCAR LOPEZ 3530 MANASSAS AVENUE MELBOURNE FL 32934 CREDIT ANALYST 107790 JESUS M CRUZ 441 SURRY DRIVE LANCASTER PA 17601 CONSULTING 104545 3 6760349 3879897 10640246 INTEREST INCOME 522220 4355370 4355370 NEW MARKET TAX CREDIT 522220 1354730 1354730 OTHER 522220 662372 662372 LOAN AND SERVICE FEES 522220 315949 315949 6688421 17328667 6688421 644925 644925 5164687 4694863 20381 449443 1195064 1055715 41178 98171 341676 310304 1235 30137 167357 49370 117987 86350 25473 60877 442502 130188 312314 210610 105262 42097 63251 408857 342438 12699 53720 534387 481631 6525 46231 261743 227750 13340 20653 104566 52126 20821 31619 1725444 1725444 175036 157055 3009 14972 22435 18892 3543 LOAN LOSS PROVISION 857571 857571 FILING FEES 209463 209463 TEMPORARY HELP 209210 181008 11946 16256 MISCELLANEOUS 126807 126807 158750 152869 2324 3557 13047440 9823710 2392177 831553 16371628 13137655 30820456 4599780 407371 738041 6915188 9151851 54963967 74612432 257558 220304 6106828 867318 4430967 5239510 35900 16363865 234714 114203035 124298152 1510301 1655780 4388524 4725000 3849872 7619624 48397812 49278974 19320658 20214035 77467167 83493413 X 33967740 40508052 2768128 296687 36735868 40804739 114203035 124298152 X 4281227 -212356 X false true X true true true X 4043044 7594836 37563033 9958143 10640246 69799302 4043044 7594836 37563033 9958143 10640246 69799302 5950432 63848870 69799302 27981022 0.91470 0.91010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4497909 397257 4100652 1209688 184090 1025598 399231 285971 113260 5239510 MUTUAL FUNDS 15320565 F PREFERRED STOCK WARRANTS 1000000 C FHLB SHARES 43300 C 16363865 EQUITY EQUIVALENT INVESTMENTS 19969993 OPERATING LEASE LIABILITY 224570 FINANCE LEASE LIABILITY 19472 20214035 X SCHEDULE D, PAGE 3, PART X THE ORGANIZATION HAS EVALUATED THE TAX FILINGS FOR THE OPEN TAX YEARS FOR UNCERTAIN TAX POSITIONS. THE TAX YEARS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE ARE 2019, 2020, 2021, AND 2022. THE TAX YEARS SUBJECT TO EXAMINATION BY THE STATE JURISDICTION ARE UNLIMITED. true COMMUNITY FIRST FUND FEDERAL CREDIT 51 S DUKE STREET SUITE 100 LANCASTER PA 17608 871525468 501C1 644925 FUNDING 1 SCHEDULE I, PAGE 1, PART I, LINE 2 COMMUNITY FIRST FUND STRIVES TO MAINTAIN COMPREHENSIVE DOCUMENTATION IN REGARDS TO AWARDED GRANTS. THE FOLLOWING FORMS ARE FILED IN BOTH PAPER AND ELECTRONIC FORMAT: THE ORIGINAL GRANT CONTRACT, THE WINNING GRANT PROPOSAL, INVOICES FROM THE GRANTEE AS WELL AS PAYMENT CONFIRMATION, REQUIRED INTERNAL COMPLIANCE REPORTING FROM THE GRANTEE, AND EMAIL CORRESPONDENCE RELATING TO THE PARTICULAR GRANT. THE GRANTEE'S ELIGIBILITY AND SELECTION CRITERIA ARE MADE ON A CASE-BY-CASE BASIS, WITH GRANT-SPECIFIC ELIGIBILITY FOUND IN THE GRANT CONTRACT. IN RESPECT TO FUND MONITORING, COMMUNITY FIRST FUND DECIDES BEST PRACTICE DEPENDING ON THE PURPOSE AND TIMELINE OF THE GRANT. LOOKING AT THE SACA CAPACITY DEVELOPMENT GRANT, THE FUNDING PURPOSE WAS INCOME SUPPLEMENTATION FOR NEW MANAGEMENT OF THE GROWING ORGANIZATION. THE GRANTEE PROVIDED INVOICES WHEN REQUESTING A DRAW OF FUNDS, AND PROVIDED PERIODIC PAYROLL JOURNALS OF THE NEW POSITION TO SHOW PROPER UTILIZATION OF THE GRANT. AS COMMUNITY FIRST BUILDS CAPACITY TO AWARD MORE THAN EXTERNALLY-PROPOSED GRANTS, OVERARCHING PROCEDURE WILL BE IMPLEMENTED BEYOND A CASE-BY-CASE BASIS. false false false false false false false false false DANIEL BETANCOURT PRESIDENT & CEO 313572 83445 5239 402256 ANTHONY PAPPION CFO 182938 361 11967 195266 JOAN BRODHEAD CHIEF STRAT. OFFICER 177389 2233 7218 186840 JAMES BUERGER HOUSING AND CRE LEND 142517 7411 12927 162855 FORM 990, PAGE 1, ITEM B FINANTA WAS ORIGINALLY REPORTED AS A DISREGARDED ENTITY ON THE COMMUNITY FIRST FUND FORM 990. FINANTA HAS FILED A SEPARATE RETURN FOR THE FISCAL YEAR ENDED 6/30/2023, THEREFORE THE COMMUNITY FIRST FUND FORM 990 IS BEING AMENDED TO EXCLUDE FINANTA. FORM 990 - ORGANIZATION'S MISSION TO PROMOTE COMMUNITY AND WORK-BASED ECONOMIC DEVELOPMENT. THE ORGANIZATION PROVIDES LOANS FOR COMMUNITY PROJECTS AND TECHNICAL ASSISTANCE TO HOUSING & ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE BENEFIT TO LOW INCOME PERSONS AND CONTRIBUTE TO SOCIAL PROGRESS AND ECONOMIC DEVELOPMENT IN THE SOUTH CENTRAL PENNSYLVANIA REGION. ON JULY 1, 2020, THE ORGANIZATION MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND FOUNDED IN 1996. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED THE ORGANIZATION AS ITS SOLE MEMBER. BY VIRTUE OF THE ORGANIZATION BEING THE SOLE MEMBER OF FINANTA, FINANTA IS CONSIDERED A SUBSIDIARY OF THE ORGANIZATION. THE CONSOLIDATION OF THE TWO ORGANIZATIONS ADDED 19,959,381. FORM 990, PAGE 2, PART III, LINE 4A COMMUNITY FIRST FUND PROMOTES COMMUNITY AND ECENOMIC DEVELOPMENT BY PROVIDING AFFORDABLE LOANS TO ENTITIES THROUGHOUT CENTRAL AND EASTERN PENNSYLVANIA, INCLUDING SMALL BUSINESSES, DEVELOPERS OF AFFORDABLE HOUSING, COMMUNITY-BASED ORGANIZATIONS, WOMEN, PEOPLE OF COLOR. ON JULY 1, 2020, COMMUNITY FIRST FUND MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED COMMUNITY FIRST FUND AS ITS SOLE MEMBER. DURING THE YEAR ENDING JUNE 30, 2023, THE ORGANIZATION CLOSED 292 NEW LOANS. THE ORGANIZATION FINANCED 638 HOUSING UNITS FOR LOW AND MODERATE INCOME INDIVIDUALS. THROUGH THE ORGANIZATIONS FINANCING EFFORTS, 1,273 JOBS WERE CREATED OR RETAINED, AND 872,393 SQUARE FEET OF BUSINESS REAL ESTATE WAS DEVELOPED OR REHABBED. IN MARCH 2020 IN RESPONSE TO THE COVID-19 PANDEMIC, THE ORGANIZATION SHIFTED ITS FOCUS TO PARTICIPATION IN AND PROMOTION OF VARIOUS GRANT AND LOAN PROGRAMS TO BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES AND OWNED BY PEOPLE OF COLOR. BY JUNE 30, 2020, THE ORGANIZATION HAD DIRECTLY PROVIDED EMERGENCY FINANCIAL RELIEF IN THE FORM OF LOW-INTEREST LOANS TO 24 BUSINESSES AND HAD MANAGED THE PROGRAM TO FUND 461 SBA PAYCHECK PROTECTION PROGRAM LOANS TOTALING 15,784,735 THROUGH ITS SUBSIDIARY COMMUNITY FIRST CAPITAL CORP. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE POLICY IS MONITORED AND ENFORCED THROUGH THE ANNUAL CONFLICT OF INTEREST DISCLOSURE PROCESS. FORM 990, PAGE 6, PART VI, LINE 15A CEO COMPENSATION IS REVIEWED DURING THE BUDGET PROCESS AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS REVIEWED DURING THE BUDGET PROCESS AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST AT THE ORGANIZATION'S HEADQUARTERS. FORM 990, PART XI, LINE 9 TRANSFER TO SUBSIDIARY -212,350 ROUNDING -6 TOTAL -212,356 COMMUNITY FIRST CAPITAL CORP 51 SOUTH DUKE STREET LANCASTER PA 17602 200185800 SBA LOANS PA 501C3 12A COMMUNITY FIRST FUND false FINANTA 1301 NORTH 2ND STREET PHILADELPHIA PA 19122 232857766 LOANS PA 501C3 12A COMMUNTY FIRST FUND false CFF SUB CDE 4 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 611714370 NMTC PA CFF SUB CDE 4 LLC RELATED 17 false true CFF SUB CDE 5 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 300786348 NMTC PA CFF SUB CDE 5 LLC RELATED 33 false true CFF SUB CDE 6 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 320412236 NMTC PA CFF SUB CDE 6 LLC RELATED -10 572 false true 0.00010 CFF SUB CDE 7 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474466777 NMTC PA CFF SUB CDE 7 LLC RELATED 23 1148 false true 0.00010 CFF SUB CDE 8 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474475887 NMTC PA CFF SUB CDE 8 LLC RELATED 9 438 false true 0.00010 CFF SUB CDE 9 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474887880 NMTC PA CFF SUB CDE 9 LLC RELATED 13 682 false true 0.00010 CFF SUB CDE 10 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474498301 NMTC PA CFF SUB CDE 10 LLC RELATED 34 808 false true 0.00010 CFF SUB CDE 12 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474523681 NMTC PA CFF SUB CDE 12 LLC RELATED 612 false true 0.00010 CFF SUB CDE 13 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 814087839 NMTC PA CFF SUB CDE 13 LLC RELATED 18 537 false true 0.00010 CFF SUB CDE 14 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 814102957 NMTC PA CFF SUB CDE 14 LLC RELATED 3 983 false true 0.00010 CFF SUB CDE 11 LLC 51 SOUTH DUKE STREET SUITE 400 LANCASTER PA 17602 474511175 NMTC PA CFF SUB C CORP 153093 8024201 0.00010 false true true false true false false false false false false false true false true true false false false false COMMUNITY FIRST CAPITAL CORP B 212356 TRANSFER OF CAPITAL COMMUNITY FIRST CAPITAL CORP D 744941 INCR NOTE RECEIVABLE COMMUNITY FIRST CAPITAL CORP D 8304859 AMT DUE ON NOTE-YR END COMMUNITY FIRST CAPITAL CORP L 269511 FMV-MGMT FEE COMMUNITY FIRST CAPITAL CORP N COMMUNITY FIRST CAPITAL CORP O COMMUNITY FIRST CAPITAL CORP R 186334 FMV-INTEREST INCOME