2019 banner welcome

directors box 2019Throughout our fiscal year 2019, Florida Community Loan Fund demonstrated its commitment to Florida’s communities. Once again, the projects we were privileged to finance illustrate how capital, when deliberately deployed, can maximize opportunities for people and places outside of the economic mainstream. During 2019, Florida Community Loan Fund:

  • delivered $54.1 million in financing that expanded opportunities for people and communities statewide;
  • originated a record $31.7 million in loans – $12 million more than our previous annual record;
  • provided an additional $22.4 million through the New Markets Tax Credits Program.

And for the first time we can measure our impact in billions:

  • FCLF’s cumulative lending since inception has now leveraged $1.1 billion into projects in underserved communities in every region of the state.

FCLF is well positioned to meet the growing needs of Florida’s communities. Total Assets grew to $87.5 million at fiscal year-end, and will reach the $100 million threshold during fiscal year 2020.  Net assets grew by 18% to $37 million.

As we pause to mark another year of exceptional mission accomplishments, we are marching forward with implementing our new Strategy in 2020. Our commitment to our communities is clear. We will find more ways to deliver and lead capital to work on behalf of communities. We will use the tools of finance to meet the evolving challenges in the communities in which we work, to achieve social and economic justice, and to expand opportunities for those outside the economic mainstream.

We thank you for your continued support and commitment.

SUCCESS STORIES FROM OUR COMMITMENT TO FLORIDA’S COMMUNITIES

In these videos, hear from borrowing partners and Floridians who receive housing and social services as a result of FCLF financing.

FCLF WDC Ability 2019 Video Cover Pic 430w
FCLF EvansCtr 2019 Video Cover Pic 430w

HABITAT FOR HUMANITY OF LEE & HENDRY COUNTIES

annual report 2019 HABITAT2

Committed to affordable housing.

Addressing the need for single-family housing, Habitat for Humanity of Lee & Hendry Counties helps families achieve their dream of home ownership.

  • Affordable mortgages at no more than 30% of a family’s income
  • $5.3 million FCLF financing is helping Habitat Lee & Hendry become an organization focused on building neighborhoods
  • 465 new affordable homes made possible with FCLF financing, across 4 communities

“With FCLF’s partnership, we can develop communities where families in need of affordable housing can thrive.”− Becky Lucas, CEO, Habitat for Humanity of Lee & Hendry Counties.

WAYNE DENSCH CENTER ABILITY HOUSING, INC.

annual report 2019 ability wayne densch ctr

Committed to supportive housing.

At the Wayne Densch Center, Ability Housing, Inc. provides a safe, clean apartment and on-site services for formerly homeless individuals.

  • 77 affordable apartments that are safe and high-quality
  • On-site services for residents with a focus on individuals who are formerly homeless
  • $2.6 million FCLF financing towards a project with $9 million total costs
  • $500,000 AHP grant through FHLB-Atlanta, with FCLF as sponsor

“FCLF’s investment in creating permanent housing solutions for our neighbors in need is a testament to their commitment to all of Florida’s communities.” − Shannon Nazworth, President & CEO, Ability Housing, Inc.

WAYNE DENSCH CENTER ABILITY HOUSING, INC.

FCLF and Ability Housing, Wayne Densch Center

BOYS & GIRLS CLUBS OF PALM BEACH COUNTY

annual report 2019 boys girls clubs pbc

Committed to children and youth.

Using New Markets Tax Credit financing, Boys & Girls Clubs of Palm Beach County is building a beautiful new Teen Center that will offer programs to area youth including academic enrichment, job training, and healthy lifestyles.

  • 13,860 square-foot new construction for Smith & Moore Family Teen Center
  • 300 youth to gather at new club daily, 70% from families with income below $19,000 annually
  • $8.4 million FCLF NMTC allocation towards project with $9 million total costs
  • 400 temporary and 15 permanent jobs estimated

“We are so pleased to make our teen career readiness center a reality, thanks to the support of FCLF.” − Jaene Miranda, President & CEO, Boys & Girls Clubs of Palm Beach County

PARRAMORE ASSET STABILIZATION FUND

annual report 2019 pasf

Committed to collaborations supporting communities.

By partnering with strong community-based nonprofits, the Parramore Asset Stabilization Fund will provide long-term sustainability of affordable rental housing in an area of high poverty.

  • 83 rental units across 44 properties will be kept affordable in one of Orlando’s poorest sections
  • $15,000 median household income – 35% of Area Median Income – and 24% unemployment rate
  • $8 million total project shared by three financially capable nonprofits

“By combining our strength and capacity, we can achieve more together than we could individually. The three partners are committed to deploying capital in impactful and meaningful ways.” − Ignacio Esteban, CEO, Florida Community Loan Fund

PARRAMORE ASSET STABILIZATION FUND

annual report 2019 PASF2

EVANS CENTER

annual report 2019 evans center

Committed to access to healthy foods and healthcare.

The Evans Center in Brevard County stands on the site of a former locally owned grocery store and unites and revitalizes its community with access to healthy foods, healthcare, and programs including nutrition education and job training.

  • 6,000 square feet of new construction  
  • Easy access within walking distance of many neighbors to fresh food, healthcare, wellness programs, job training and community meeting space
  • The center’s purpose was identified by area residents through surveys, which confirmed the needs in the community
  • $700,000 FCLF financing for construction

“Thanks to FCLF’s partnership on this economic development project, area residents are filled with hope and excitement.” − Lynn Brockwell-Carey, Project Manager, Evans Center

FINANCIAL RESULTS 2019

Summary Statement of Financial Position

Stmt Financial Position 2019

Summary Statement of Activities

Stmt Activities 2019

Loan Portfolio by Sector

2019LoanPortfolioBySector

OUR IMPACT

cumulative through 6.30.2019
our impact 2019 450w

$407 MILLION

Financed
2019 dollar icon

5,966

Housing Units
2019 house icon

151

Facilities
2.2 Million Square Feet
2019 facilities icon

15,181

Jobs
2019 jobs icon

492,158

Floridians Reached
with services annually
2019 floridians reached icon

FCLF STRATEGY 2019-2024

2019 ann rept strategic plan v1

Florida Community Loan Fund is pleased to present our strategy through 2024. This plan is our commitment to our community partners, borrowers, investors, allies, and staff. It ensures transparency and accountability for our work. This is the most ambitious strategy in our 20+ year history and challenges us to increase opportunities for people and places outside the economic mainstream through four goals:

Goal 1: Increase financing in existing lines of business.

Goal 2: Broaden and expand access to responsible, affordable financing in Florida.

Goal 3: Lead through expertise and influence.

Goal 4: Maintain and improve organizational strength and capacity

2019 ann rept strategic plan v1

Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.

Pictured at top, CDC of Tampa construction of affordable housing. Above, Emma Jewel Charter Academy students.

Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.