CAPITAL FOR CHANGE INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Principal Officer

DIANE SMITH

Phone

8009923665

Tax Period

2023-04-01 to 2024-03-31

CAPITAL FOR CHANGE INC, founded in 1968, is a mid-sized nonprofit in the Housing & Shelter sector that reported $10.5M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.5M, a strong 24% operating margin.

Mission

TOGETHER WITH ITS PARTNERS, CAPITAL FOR CHANGE (C4C) AIMS FOR MORE STABILITY, WELL-BEING, AND ENVIRONMENTALLY CONSCIOUS DEVELOPMENT FOR LOW-MODERATE INCOME INDIVIDUALS AND COMMUNITIES THROUGH ITS RESPONSIVE FINANCIAL SERVICES AND PRODUCTS.

Program Service Accomplishments

Program 1

Expenses: $7,245,416 Revenue: $6,944,203

COVERING ALL OF CONNECTICUT, C4C IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) APPROVED BY THE US TREASURY TO PROVIDE A VARIETY OF FINANCIAL SERVICES TO CONSUMERS, NONPROFITS, BUSINESSES...

COVERING ALL OF CONNECTICUT, C4C IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) APPROVED BY THE US TREASURY TO PROVIDE A VARIETY OF FINANCIAL SERVICES TO CONSUMERS, NONPROFITS, BUSINESSES, AND PUBLIC INSTITUTIONS. INSTITUTIONAL AS WELL AS PRIVATE SOCIAL IMPACT INVESTORS TRUST C4C WITH THEIR FUNDS BECAUSE OF HOW WELL WE MANAGE RISK AND THE RESULTS WE DELIVER, OVER 7,000 AFFORDABLE HOUSING UNITS, THOUSANDS OF JOBS AND SIGNIFICANT CO2 REDUCTION. C4C'S FINANCIAL BASE OF $73 MILLION IN ASSETS HAS ENABLED THOUSANDS OF LOANS FOR CONSUMER AND COMMERCIAL HOUSING AND ENERGY EFFICIENCY IMPROVEMENTS THIS YEAR ALONE. C4C ALSO HAS DECADES OF EXPERIENCE IN LOAN SERVICING FOR ORGANIZATIONS SUCH AS STATE AND MUNICIPAL PUBLIC INSTITUTIONS, IN PARTICULAR FOR ENERGY EFFICIENCY LOAN PROGRAMS. SEE WWW.CAPITALFORCHANGE.ORG FOR MORE DETAILS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,433,703

Program Service Revenue $6,944,203

Investment Income $85,213

Other Revenue $0

TOTAL REVENUE $10,463,119

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,350,786

Fundraising Expenses $155,289

Program Expenses $7,245,416

Other Expenses $3,582,932

TOTAL EXPENSES $7,933,718

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,463,119	$7,930,155	+0.3%
Expenses	$7,933,718	$7,728,123	+0.0%
Net Income	$2,529,401	$202,032	+11.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$348,093

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BENNA LEHRER	BOARD CHAIR (AS OF 1/24)	0.50	Officer Director	$0	$0	$0
DOROTHY ADAMS	BOARD CHAIR (UNTIL 1/24)	0.50	Officer Director	$0	$0	$0
JEFF ROBINSON	TREASURER	0.50	Officer Director	$0	$0	$0
ROBIN GOLDEN	SECRETARY	0.50	Officer Director	$0	$0	$0
BRIAN ROBINSON	DIRECTOR	0.50	Director	$0	$0	$0
ANNA BLANDING	DIRECTOR	0.50	Director	$0	$0	$0
GINNE-RAE CLAY	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL VAN LEESTEN	DIRECTOR	0.50	Director	$0	$0	$0
EDWARD SEIBERT	DIRECTOR	0.50	Director	$0	$0	$0
JOHN STEVENS	DIRECTOR	0.50	Director	$0	$0	$0
ANDREW BEAMON	DIRECTOR	0.50	Director	$0	$0	$0
CAROLYN GONZALEZ	DIRECTOR	0.50	Director	$0	$0	$0
CHARLES BODIE	CFO (UNTIL 6/23)	40.00	Officer	$75,301	$15,933	$91,234
BHAVANI DARYANANI	INTERIM CFO (6/23 - 12/23)	40.00	Officer	$64,423	$1,352	$65,775
RICHARD MCGEARY	CFO (AS OF 12/23)	40.00	Officer	$5,885	$0	$5,885
DIANE SMITH	PRESIDENT & CEO	37.50	Officer	$179,039	$6,160	$185,199
CARLA WEIL	DIRECTOR OF COMMERCIAL LENDING & IMPACT	40.00	Highest	$125,406	$16,127	$141,533
JEFF LEVITSKY	DIRECTOR OF ACCOUNTING	40.00	Highest	$121,191	$22,428	$143,619
KRISTEN FUSCO	DIRECTOR OF CONSUMER LENDING	40.00	Highest	$107,429	$36,553	$143,982
GARY CLARK	DIRECTOR OF LOAN SERVICING	40.00	Highest	$116,358	$23,122	$139,480
CASSANDRA BRADLEY	OFFICER, SENIOR MULTI-FAMILY LENDING	40.00	Highest	$107,515	$20,994	$128,509

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$10,463,119	$7,933,718	$76,235,581	$2,529,401
2023	$7,930,155	$7,728,123	$73,173,736	$202,032
2022	$10,335,539	$8,158,661	$69,646,827	$2,176,878
2021	$11,318,870	$11,341,454	$117,583,569	$-22,584
2020	$7,660,782	$7,613,485	$106,365,310	$47,297
2019	$7,595,976	$8,146,221	$81,005,721	$-550,245
2018	$6,072,309	$5,781,971	$63,405,396	$290,338