CDFI Connect Community Discussions

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Updated: 54 min 17 sec ago

RE: Looking for website platform recommendations

Thu, 2021-12-23 16:46
From : Communities>>Open Forum
Thanks, @Kate Barr!​ ------------------------------ Clara Pinsky Communications & Impact Associate Working Solutions San Francisco CA (415) 801-7612 ------------------------------

RE: Looking for website platform recommendations

Thu, 2021-12-23 16:45
From : Communities>>Open Forum
Thank you so much for this detailed information! It's great to know about Divi--we'll definitely check that out. ------------------------------ Clara Pinsky Communications & Impact Associate Working Solutions San Francisco CA (415) 801-7612 ------------------------------

RE: PPP Forgiveness

Thu, 2021-12-23 15:14
From : Communities>>Open Forum
Alicia, The Sequoyah Fund has gone several rounds with the SBA over this. They have hit us with repeated requests for information, and the last communication we received from them (via our bank's PPP department) was that they were considering denying forgiveness because we are engaged in lending. I sent a letter on our letterhead answering their questions. I included information from some of our Native CDFI Zoom calls last year featuring SBA representatives that highlighted the confusing signals [More]

CDFI Reporting - Community-Based Solar Loans

Wed, 2021-12-22 15:37
From : Communities>>Open Forum
Hello OFN Community, Capital Good Fund is a long time consumer lender and we recently issued a non-consumer loan (the first of hopefully more to come). In thinking ahead about CDFI reporting requirements for business loans, I want to make sure we are gathering the right data points. My question to the community is how have folks classified loans going to organizations that are then relending to community-based solar loans for CDFI reporting in the past? If you have not had this direct scenario, [More]

PPP Forgiveness

Wed, 2021-12-22 14:25
From : Communities>>Open Forum
Hello, Happy Holidays! Has any other Native CDFI's been denied the loan forgiveness of the PPP funds? Westwater has been denied.... Thanks, Alicia Sent from Mail for Windows

RE: accounting for sale of loan collateral

Tue, 2021-12-21 09:44
From : Communities>>Open Forum
1. It is my understanding that all of the sales activity related to repossessed collateral should flow through the loan accounts.  In the example you provided the net applied against the loan balance would be $7,000 – leaving a 1099-C reportable amount of $5,000 – the difference between what was owed and what you, as the lender, realized on a net basis from the sale. 2.The answer to this depends on how you recorded the value of the collateral when you repossessed it.  Using the example from number [More]

accounting for sale of loan collateral

Mon, 2021-12-20 19:27
From : Communities>>Open Forum
I have two questions related to the sale of loan collateral. 1. We used an auction house to sell vehicles that we held as collateral. Is it best to expense the commission or to net it against the sale? If you do the former, what amount do you report on the 1099-C to the borrower? Let's say the loan balance was originally $12k, the commission was $2k, and the net proceeds from the sale were $7k. Would the 1099-C be $3k regardless of the accounting, or, if the commission was expensed, would it be [More]

2 Job Opportunities at Spruce Root in Southeast Alaska

Sat, 2021-12-18 04:16
From : Communities>>Open Forum
Hello, CDFI community! There are two exciting opportunities to join our team at Spruce Root, a non-profit, Native CDFI based in Southeast Alaska. We are currently hiring two higher-level positions: a Finance Manager and a Lending Outreach Specialist See full position descriptions and application instructions at https://www.spruceroot.org/careers. Applications will be reviewed on a rolling basis.  Please reach out if you have any questions, or to learn more about our organization.  Happy holidays! [More]

RE: Looking for website platform recommendations

Thu, 2021-12-16 17:47
From : Communities>>Open Forum
Propel Nonprofits is built on WordPress which has been adaptable as we have needed different features and plug ins. ------------------------------ Kate Barr President & CEO Propel Nonprofits Minneapolis MN 612.278.7182 ------------------------------

RE: Multi-Family Housing Training

Thu, 2021-12-16 15:16
From : Communities>>Open Forum
Let me know if enrolment gets expanded! We would love to have a few of our new hires take this course. Melissa Johnson Director of Loan Operations Corporate Office Address: 23861 El Toro Road, STE 401 | Lake Forest, CA 92630 Direct: (949) 525-4960 | Cell: (714) 310-9163 www.clearinghousecdfi.com Facebook | Twitter | LinkedIn View CCDFI's 2020-2021 Updates: 2020 Annual Report | 2020 Impact Report | 2020-21 Annual Borrower Video

RE: Looking for website platform recommendations

Thu, 2021-12-16 12:12
From : Communities>>Open Forum
I would recommend WordPress as enhanced by Divi. This way, you have control over your website, make the site grow as you grow, and monthly fees will be very low because you'll only have to pay for hosting something like $5 per month. Plus, a lot of independent contractors who can help you are already very familiar with WordPress so you'll have a much easier time getting help and/or setting things up. WordPress powers something like 40% of the entire internet, which is incredible. I remember when [More]

Looking for website platform recommendations

Wed, 2021-12-15 22:00
From : Communities>>Open Forum
Here at Working Solutions CDFI, we are ramping up for a website refresh in the new year and are weighing our options regarding what platform to use. We are currently using Squarespace 7.0 and are considering a switch to 7.1, but we want to explore other options as well. Does anyone have a a different website platform that you use and recommend? Please feel free to reply on this thread, send me a message on CDFI Connect, or email me at clara@workingsolutions.org. Thanks in advance for any input! [More]

RE: Multi-Family Housing Training

Wed, 2021-12-15 17:34
From : Communities>>Open Forum
Thank you for your interest in the course.  It has reached waiting list status.  However, often a handful of students do not officially register, thus opening up for those in the wait list.  Also, I can petition the Registrar to expand enrollment.  Feel free to reach out to me directly if you have any questions - james_carras@harvard.edu. Jim ------------------------------ James Carras Lecturer Harvard University Kennedy School of Government Harvard Extension School 2021 Harvard Advanced Leadership [More]

RE: Multi-Family Housing Training

Wed, 2021-12-15 17:13
From : Communities>>Open Forum
Hey James! Looks like it is a popular class. We have at least 2 people that we would like to attend, how likely is it that people on the waitlist will get in? ------------------------------ Melissa Johnson Director of Loan Operations Clearinghouse Community Development Financial Institution Lake Forest CA 9495254960 ------------------------------

RE: Multi-Family Housing Training

Tue, 2021-12-14 16:36
From : Communities>>Open Forum
I teach a course during the Spring semester at Harvard Extension School, Financing Community Economic Development, that has a portion of the curriculum focused on affordable housing development finance.  See: DCE Course Search Harvard remove preview DCE Course Search Search Classes View this on Harvard > ------------------------------ James Carras Advanced Leadership Fellow Individual Cambridge MA 9544152022 ------------------------------

RE: Member Monday

Mon, 2021-12-13 12:17
From : Communities>>Open Forum
In this week's Member Monday, we will take a look at the work of Shared Capital Cooperative. Shared Capital Cooperative is a women-led cdfi, headquartered in the Twin Cities of Minneapolis. SCC connects co-ops and capital to build an economic democracy. With over 265 members in 35 states and over $52 million in lending, SCC's programs range from worker ownership funds, sustainable food system financing, kagawa fund for student housing and organic valley principle 6 growth fund. Their latest project [More]

RE: Accounting software recommendations

Mon, 2021-12-13 11:41
From : Communities>>Open Forum
Hi Diane. A large number of our Canadian clients use Sage 50 and 100 and very satisfied. In the US, we've seen more of an uptake from Sage, MIP and more recently Great Plains. They should be compatible with your loan servicing software as they are with ours, The Exceptional Assistant. Good luck and Happy Holidays ------------------------------ Paul Hodgert Sales and Consulting CommonGoals Software Prescott ON 1-800-354-5152 Ext. 224 phodgert@commongoals.com ------------------------------

RE: finance dept organization

Mon, 2021-12-13 10:58
From : Communities>>Open Forum
Hi Ken I've been in the nonprofit sector for 30 years and often counseled nonprofits - including economic development organizations - on how to structure their finance departments. In most small to medium size nonprofits (annual budgets up to $5M), finance departments consist of a full-time director of finance and administration OR a hands on CFO and maybe a PT bookkeeper if there is a high enough volume. They typically wear a lot of hats and manage all accounting, human resources, facilities, information [More]

RE: Financial Literacy

Mon, 2021-12-13 09:54
From : Communities>>Open Forum
We offer financial coaching and the way we measure financial literacy is by providing a short quiz at the end of our modules. ------------------------------ Isabel Ramsay Director of Financial Coaching Capital Good Fund ------------------------------

Accounting software recommendations

Mon, 2021-12-13 09:23
From : Communities>>Open Forum
We are looking to upgrade our existing accounting software in 2022. We would appreciation any recommendations from other CDFI's for potential software to research/demo. We currently run QuickBooks desktop. We have investigated Sage, Community Brands MIP, and Apolos. Any thoughts regarding experience with these software is appreciated. Thanks,Diane Diane Miller, MBA Accountant Mountain BizWorks diane@mountainbizworks.org | mountainbizworks.org 828-253-2834 ext. 28 (office) Follow Us: Facebook | [More]

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