Jewish Free Loan

 ORGANIZATION OVERVIEW

 Name of organization:  Phoenix Jewish Free Loan Association dba Jewish Free Loan

Address:  3443 North Central Avenue, Suite 707, Phoenix, AZ  85012                               

Phone:  602-230-7983                         

Fax:       602-230-0180                      

Website:      www.jewishfreeloan.org                 

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Year of incorporation: 1950

Organization’s former names:  none

Mission statement

The Jewish Free Loan provides interest free loans, with dignity, to Jewish individuals: to enable them and their families to improve their lives and achieve greater stability with regard to their long term welfare and to encourage and facilitate Jewish continuity.

Impact statement

Since 1996 we have helped 622 individuals, couples and families and provided $1,524,052 in interest free loans.  We have enabled members of the Jewish community to develop or expand their businesses, adopt children,  secure transportation, receive medical and dental care and help with  vocational and college education.  The JFL also has a tzedakah loan program to provide small loans for emergency situations so utilities will not be shut off and families will have a roof over their heads.  We are helping one loan at a time – one individual at a time to maintain their dignity and hope when they had no other place to turn.

Background and history statement

The Jewish Free Loan was established in Phoenix in the late 1940’s and incorporated in 1950. The foundation of the Jewish Free Loan is based on the Torah portion, Shabbat Mishpatim, which states:”If you lend money to My people, to the poor among you, do not act toward them as a creditor, exact no interest from them” (Exodus 22-24).  For sixy years we have fulfilled this biblical injunction and it is the core value of our organization. 

General needs statement

The Jewish Free Loan has added loan funds and categories based on the growing and expanding needs of the Jewish community.  As one time we did not offer adoption loans or college education loans, nor did we always make loans at amounts over $5,000.  As the Jewish community grows and develops we are flexible and responsive to the needs presented from this growth.  Today we not only need loans for medical care, small business development and growth, or debt consolidation,  but we are also faced with the pressing needs of basic human survival – food and shelter.

PROGRAMS

The only program of the Jewish Free Loan is to provide interest free loans.  Our broad categories of loans includes: Adoption and In Vitro, Business, Education, Israel, Medical and Emergency, Personal Crisis and General.  We serve the Jewish community of Arizona and our operating budget is about $250,000.  Our loan repayment rate has held at approximately 98% which is one of the success indicators we use.  We have also seen the loan program grow and expand in the last few years and since 2001 we have loaned over one million dollars.

MANAGEMENT:

Name of CEO/Executive Director:  Tina Sheinbein

Date of hire: 2-2008 (joined staff  6-2005 as Director of Development & Outreach)

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Brief bio/experience: For the past thirty years has worked in senior development, marketing and administrative positions within the Phoenix Jewish community including AIPAC, State of Israel Bonds and Jewish Community Center. Recently elected Secretary of the International Association of Hebrew Free Loans Board.

Number of full-time staff: None

Number of part-time staff: 4 including Executive Director

Number of volunteers:  40

Senior staff members: (include names. titles, brief bio/experience)

Terri Swirnoff, Director of Development & Outreach.  Served as the senior development officer at the Jewish Federation of Greater Phoenix for twenty years.

 Organizational affiliations/memberships/accreditations:

 International Association of Hebrew Free Loans

 GOVERNANCE

Board chair:  Ronald Blau

Business or professional affiliation:  Insurance and Wealth Management

Term of office: 2 years

List all board members (include names and business/professional affiliations):

First Vice President – Fred Wabnik – Retired Bank/Business Consultant

Vice-Presidents – Lisa Lerner – Banking

Eric Rinestone – Real Estate

Secretary – SaraRuth Rossow – Community Volunteer

Treasurer – Howard Treshansky – Retired Attorney/Accountant

Immediate Past President – Kay Abramsohn – Judge

R. Blaise Biller – Property and Casualty Insurance

Paul Blum – Real Estate Broker

Selma Fiel – Retired (former JFL Executive Director)

Larry Moffitt – CPA

Suanne Neuman – Retired Educator

Michael Seiden – Retired President, Western International University

David Senkfor –Business Consultant

Ira Shapiro – Investment

Joel Shapiro – Financial Advisor

Barrett Silver – Real Estate developer

Marvin Stein – CPA

Ora Zutler -  Analytics Director

FINANCIAL

End date for fiscal year: 5-31-10

Projected revenue: $250,000 – Operating Budget – excluding loans

Projected expense: $250,000 – Operating Expenses – excluding loans

EIN number: 86-6052446

Prior three years revenue by source:           2006                 2007                 2008

   Foundation and Corporate contributions           0                    $  20,000.00    0

   Individual contributions (include bequests)$251,715.97         $222,476.72    $319,723.70

   Special Events                                               0                      0                      0

   Grants from umbrella organizations: (i.e. United Way, Federation)

                                                                        0                      $    2,000.00    $ 30,200.00

   Fee for Service revenue                                 0                      0                      0

   Interest and Dividend income             $   9,271.14     $  12,409.86    $  9,500.51

   In-kind revenue                                             0                      $       166.36    $     391.00

Prior three years expense allocations:

   Program expense                                           $136,848         $138,002         $161,616

   Administration                                               $  46,267         $  57,251         $  66,617

   Fundraising                                                    $  64,272         $  38,102         $  41,417

   Ratio of fundraising expense to contributed income25.53%  15.59% 11.84%

Prior three years assets and liabilities:

   Current assets (excluding value of Endowment)$409,066   $488,792         $643,665

   Total assets                                                          $775,751  $823,619         $880,989

   Current liabilities                                                   $    5,028  $   5,946          $     5,482

   Total liabilities                                                      $    5,028  $   5,946          $     5,482

   Total net assets (including value of Endowment)

                                                                        $770,723         $817,672         $875,506

Value of Endowment:                         $276,349         $250,463         $177,588