The Capital Good Fund
The Capital Good Fund
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About this organization
Mission
Capital Good Fund is a nonprofit, U.S. Treasury-certified Community Development Financial Institution headquartered in Providence, RI. Our mission is to create pathways out of poverty and advance a green economy through inclusive financial services. Since 2009, we have financed over 9,000 small-dollar personal loans totaling $19 million (with a 95% repayment rate) and graduated more than 1,800 families through our Financial & Health Coaching program. As a social justice organization, we believe in the vision of Dr. Muhammad Yunus, the 2006 Nobel Peace Prize Winner: to "put poverty into museums" through microfinance.
About
IN 2019, CAPITAL GOOD FUND FINANCED $3.018 MILLION IN SMALL-DOLLAR CONSUMER LOANS TO 1,185 LOWER-INCOME FAMILIES WITH NO-OR-POOR CREDIT, SURPASSING $9 MILLION FINANCED ALL-TIME. OUR PORTFOLIO OUTSTANDING GREW BY 30%, FROM $3.81 MILLION IN 2018 TO $4.98 MILLION IN 2019. SOME HIGHLIGHTS INCLUDE 110 DOUBLEGREEN LOANS FOR $993,000 WORTH OF ENERGY-EFFICIENCY UPGRADES, AND 80 IMMIGRATION LOANS TOTALLING $452,000; THESE WERE FOR COSTS ASSOCIATED WITH CITIZENSHIP, GREEN CARDS, FAMILY PETITIONS, AND OTHER IMMIGRATION ADJUSTMENTS-OF-STATUS. OTHER LOANS WERE FOR VEHICLE PURCHASE, REPAIR, OR REFINANCE; SECURITY DEPOSITS; CATCHING UP ON RENT OR UTILITIES; AND EMERGENCIES. DESPITE OUR TREMENDOUS GROWTH, WE'VE MAINTAINED A 95% REPAYMENT RATE. WE ENDED THE YEAR BY SECURING A LENDING LICENSE IN ILLINOIS.
Interesting data from their 2020 990 filing
The filing sets forth the mission of the non-profit as “Our mission is to create pathways out of poverty and advance a green economy through inclusive financial services.”.
When detailing its responsibilities, they were listed as: “The capital good fund is a micro-finance organization that targets root causes of poverty through innovative micro-loans and personal financial coaching. its mission is to create pathways and create a green economy though inclusive financial services.”.
- The state in which the non-profit is legally permitted to operate is RI.
- The address of the non-profit for 2020 according to the filing is 22A STREET, PROVIDENCE, RI, 02907.
- The number of employees reported by the non-profit on their form as of 2020 is 39.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $231,282.
- The organization has 8 independent voting members.
- The organization was formed in 2009.
- The organization pays $1,637,747 in salary, compensation, and benefits to its employees.
- The organization pays $176,775 in fundraising expenses.
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