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Message 2024 IMPACT REPORTCommunity Impact One ripple at a timeImproving lives through free loans
2As Executive Director of Hebrew Free Loan of San Diego (HFLSD), I am always humbled to share the achievements of our organization. It’s truly remarkable that in just under four years, with our rst loan granted in April 2021, HFLSD has made such a profound impact on the San Diego Jewish community.This year, we witnessed a signicant increase in loan applications, reecting the growing need for accessible nancial assistance. We have provided crucial support to over 145 individuals and families facing a range of nancial hardships, from medical emergencies and unexpected job losses to educational expenses and small business ventures. We cumulatively have allocated over $1.3 million in loans, with over $475,000 allocated in 2024 alone, which is an 18% increase over 2023, while maintaining a 0% loan loss rate – a testament to the responsible lending practices that are at the heart of our mission.HFLSD is more than a poverty prevention program; it’s a lifeline for our community. As Jacob shared, “It feels so much more natural and right to reach out to a Jewish organization that really cares about Jewish people when we are in a nancial crisis. I am forever grateful to Hebrew Free Loan of San Diego for bailing me out of a bad situation and for doing so without the slightest amount of judgment or hesitation.” This sentiment underscores the profound impact of HFLSD’s work. By providing interest-free loans and oering compassionate guidance, we are not only helping individuals and families navigate nancial challenges but also strengthening our community as a whole.As we embark on a new year, we stay focused on the core values that guide HFLSD:1. Maximizing Impact: We are dedicated to reaching as many community members as possible. Our inquiries increased by 10% this year, and our loan recipients grew by 7%, demonstrating the growing trust and reliance on HFLSD.2. Building Long-Term Sustainability: We are committed to ensuring HFLSD’s long-term impact. The introduction of the HFLSD Legacy Circle in 2024 is a crucial step towards building an endowment that will sustain our vital work for generations to come.3. Deepening Community Connections: We believe that receiving a loan from a Jewish organization strengthens one’s connection to the Jewish community. We actively encourage borrowers to engage with other Jewish organizations and events, fostering a deeper sense of belonging.As we embark on 2025, we are thrilled to launch a new, streamlined application system. Developed by a former loan recipient from HFLA Montreal, this innovative tool will improve our eciency and allow our sta to deepen relationships with both loan recipients and the broader community. We will continue to expand our outreach eorts, collaborating with other social service agencies to identify and assist community members in need. We are also committed to developing new programs that address the evolving nancial needs of our community, and are thrilled to announce the new HFLSD Small Business Committee, a volunteer run program that will focus on small business mentorship and development. Thank you for your unwavering support. Continue reading to see how together, we are making a real dierence in the lives of countless individuals and families in San Diego!With gratitude,Mindi FrankelExecutive DirectorInspiring CHANGEBY MAXIMIZING IMPACT, BUILDING LONG-TERM SUSTAINABILITY AND DEEPENING COMMUNITY CONNECTION
3Established in 2021, Hebrew Free Loan of San Diego has experienced remarkable growth over the past four years. Born from a vision to empower individuals and families within our community, we have consistently expanded our reach and impact. With a small but dedicated team, we have become a vital resource for countless individuals and families facing nancial hardship. As we embark on 2025, we are excited to build upon this success and continue to innovate, ensuring that HFLSD remains a beacon of hope and nancial stability for decades to come.Driving LASTING IMPACTLOAN NUMBERS AND DOLLARS2021 THROUGH 2024$1.3MAllocated in Loan Dollars$9,264Average loan size$479,323in Cumulative FundsRepaid and Recycling0%loan loss$100,000$200,000$300,000$400,000$500,000Operating ExpensesNumber of LoansNumber of ApplicationsNumber of InquiriesDOLLARSLOANNUMBERSLoan $ Allocated Loan Repayment $501001502002503003502021202220232 02417559432881724548185 185282310
Waves of POSITIVE CHANGEIlana is an entrepreneur with a passion for helping others. She approached HFLSD with a vision: to expand her successful mobile physical therapy practice into a dedicated clinic. This ambitious step, however, presented unforeseen challenges. Navigating the city’s permitting process proved to be a lengthy and arduous endeavor. Delays in zoning approvals resulted in months of rent expenses for an empty space, creating a signicant nancial strain. Faced with this obstacle, Ilana sought the support of HFLSD. The small business loan provided the crucial nancial lifeline she needed to bridge this gap, enabling her to complete the necessary renovations and nally open the doors of My Physio for Life.Reecting on her journey, Ilana shares, “As the owner of My Physio for Life, I encountered numerous obstacles in establishing my clinic. The interest-free loan from Hebrew Free Loan was a lifeline during this challenging period. It provided the nancial stability I needed to secure a space and expand my services, allowing me to oer more comprehensive care to my community. Thanks to this support, I’ve been able to implement innovative therapies and help countless individuals recover from injuries and improve their quality of life. We are thrilled to be a part of the HFLSD family and we are already ourishing in the community, and helping so many patients. I could not have achieved this success without the support of HFLSD.”Ilana has already successfully paid o her HFLSD loan, and her business is thriving. With a 5-star Yelp rating and and a growing clientele, Ilana’s clinic is a testament to the positive impact of HFLSD’s small business loan program. We’re proud to support entrepreneurs like Ilana and watch them succeed in their endeavors, transforming their “dreams into reality.”SUPPORTING OUR ENTREPRENEURSHebrew Free Loan of San Diego oers eight distinct loan programs to assist individuals and families facing financial challenges or pursuing entrepreneurial endeavors.“We are thrilled to be a part of the HFLSD family and we are already flourishing in the community, and helping so many patients.” Life CycleSmallBusinessRecentlyUnemployed or EmergencyHealthcare4
CONTINUING EDUCATION Marionne, a driven young woman with a passion for community, was determined to complete her bachelor’s degree. Raised in Israel, her family relocated to Tijuana, Mexico, while she continued her education at a Jewish high school in San Diego. This experience instilled in her a deep appreciation for the importance of community and a strong desire to contribute to society.Despite the challenges of commuting across the border, Marionne excelled academically. However, the nancial burden of pursuing a degree while working full-time was signicant. Enrolling at a university that oered exible scheduling allowed her to continue working while pursuing her educational goals.The HFLSD Education Loan played a crucial role in making Marionne’s dream a reality. It supplemented her FAFSA funds, alleviating the nancial strain and allowing her to focus on her studies without the added pressure of overwhelming student debt. “My HFLSD loan was instrumental in helping me pay tuition and continue my education,” shares Marionne. “Without this support, I am not sure I would have been able to stay enrolled. My education is my top priority, and I am incredibly grateful to HFLSD for helping me pursue my dreams.”Marionne’s dedication to her studies and her desire to make a positive impact on the world are truly inspiring. And Marionne has already paid her undergraduate education loan back in full. HFLSD looks forward to seeing the positive contributions she will undoubtedly make to our community.ASSISTING THOSE IN NEED Jacob, a San Diego native, received a Personal Needs - Debt Consolidation Loan from HFLSD. He juggled a demanding academic schedule while supporting his mother following his father’s passing from COVID-19 and assisting his ancée. This, coupled with a housing transition, led to signicant credit card debt. Concerned about his nancial future, Jacob sought assistance from HFLSD to avoid a worsening situation.Thanks to the support of the Federation Community Guarantor Fund*, HFLSD was able to provide Jacob with the nancial assistance he needed to get back on track. This loan not only helped him consolidate his credit card debt but also connected him with a nancial planner. This comprehensive support enabled Jacob to improve his credit score, enhance his nancial literacy, and develop a sustainable nancial plan. With HFLSD’s assistance, Jacob is now on a path to greater nancial security and stability.Reecting on his experience, Jacob shared, “I wish I had known about HFLSD years ago when I rst encountered nancial challenges. It feels much more natural to turn to a Jewish organization like HFLSD during a crisis. I am incredibly grateful for their support and pray they continue to assist countless others in need.”“Without this support, I am not sure I would have been able to stay enrolled.” “It feels much more natural to turn to a Jewish organization like HFLSD during a crisis.”Personal NeedsEducationParents & Children in CrisisRecentlyUnemployed or EmergencyAging/Elderly Care *The Federation Community Guarantor Fund enables access to HFLSD loans for individuals who meet all the eligibility requirements but may not have a qualied guarantor.5
6OPERATING PERFORMANCE:Where our dollars come from:Donations ....................................................... $628,988Net Investment Income ............................... $72,923Loan Repayments ........................................ $241,574Where our dollars go:Total to Borrowers: Loans disbursed .................................... $476,230 Loan related expenses ........................ $233,899Liquid Assets ................................................ $1,308,169 Loans Receivables ........................................ $595,327 Other Receivables ........................................... $125,118 2024 YEAR END BALANCE SHEET2024 LOAN ACTIVITY2024 FINANCIAL HIGHLIGHTSTOTAL $ ALLOCATEDTOTAL $ PAID BACKTOTAL $ OUTSTANDING$476,230 $241,247 $595,114LOANS GRANTED BY TYPEHFLSD Balance Sheet RequirementsWith loan terms up to 4 years, HFLSD performs an annual 4-year projection of future loan activity to determine the required financial resources needed to ensure that HFLSD can fulfill our commitment to borrowers and maintain a healthy loan portfolio. The current projection will require an increase in additional funding of $3.4M to keep up with the expected demands projected through 2028.The data highlights the diverse needs of our community. From education to emergency assistance to small business loans, HFLSD’s support creates a ripple eect, empowering individuals and families to achieve financial stability and contribute to a stronger community.Education: VocationalEducation: UndergraduateEmergency LoanHealthcare LoanLife Cycle: FuneralEducation:GraduateSmallBusinessRecently UnemployedPersonal Needs:Rental AssistancePersonal Needs:GeneralPersonal Needs:Debt ConsolidationTOTAL ASSETS: $2,028,524
7Hebrew Free Loan of San Diego strives for accuracy when listing the names of our generous donors in our Annual Impact Report. If you see an error, please email info@hflsd.org so that we can correct our records as soon as possible. Thank you! Founders SocietyFounders SocietyElaine Galinson & Herb Solomon Elaine Galinson & Herb Solomon from the Glickman Donor from the Glickman Donor Advised FundAdvised FundLeichtag FoundationLeichtag FoundationLisa and Ben D. Arnold Lisa and Ben D. Arnold Tzedakah FundTzedakah FundHilary & Selwyn IsakowHilary & Selwyn IsakowEvelyn & Ernest RadyEvelyn & Ernest RadyL’Dor V’Dor ($100,000+ lifetime)L’Dor V’Dor ($100,000+ lifetime)Rachel & John HartRachel & John HartSusan Chortek Weisman & Susan Chortek Weisman & Eric S. WeismanEric S. WeismanJacobs Family FundJacobs Family FundRacham ($50,000-$99,000)Racham ($50,000-$99,000)AnAnonymousonymousLee GoldbergLee GoldbergAnonymousAnonymousKavod ($25,000-$49,999)Kavod ($25,000-$49,999)Simone Kanter and Graeme Simone Kanter and Graeme GabrielGabrielIsakow FoundationIsakow FoundationJoyce Axelrod & Joe FischJoyce Axelrod & Joe FischAnonymousAnonymousYoshra ($10,000-$24,999)Yoshra ($10,000-$24,999)Kay & William GurtinKay & William GurtinAmy Corton and Carl EiblAmy Corton and Carl EiblRobin and Leo Eisenberg FundRobin and Leo Eisenberg FundAnonymousAnonymousSharon & David WaxSharon & David WaxNancie & Rick VannNancie & Rick VannCalPrivate BankCalPrivate BankNancy and Brian MalkNancy and Brian MalkJordan Ressler Charitable FundJordan Ressler Charitable FundThe Jules and Gwen Knapp The Jules and Gwen Knapp Charitable FounCharitable FoundationdationViterbi Family FundViterbi Family FundDouble Chai ($3,600-$9,999)Double Chai ($3,600-$9,999)Marcia HazanMarcia HazanMindi & Doug FrankelMindi & Doug FrankelNorten Stolarski FundNorten Stolarski FundKarney Flaster Family FoundationKarney Flaster Family FoundationLiwerant Family Fund Liwerant Family Fund AnonymousAnonymousCarole & Jerome TurkCarole & Jerome TurkCaryn and Alan Viterbi FundCaryn and Alan Viterbi FundLeonard and Sara Gregory FundLeonard and Sara Gregory FundLesley & Roy DavisLesley & Roy DavisFelicia & David MandelbaumFelicia & David MandelbaumEinhorn Family Fund Einhorn Family Fund Susan and Bernard Feldman Susan and Bernard Feldman Family Charitable FundFamily Charitable FundChai ($1,800 - $3,599)Chai ($1,800 - $3,599)Leichtag Foundation - Farley Leichtag Foundation - Farley Family - Discretionary FundFamily - Discretionary FundAnonymousAnonymousDiane & Randy OrleyDiane & Randy OrleySharna ShacharSharna ShacharKelly and Bill BermanKelly and Bill BermanCindy & Todd GoldsteinCindy & Todd GoldsteinLiz & Dan CodenLiz & Dan CodenAnonymousAnonymousSusan GonickSusan GonickCarmen & Michael KrichmanCarmen & Michael KrichmanKevin & Jamie Wechter FundKevin & Jamie Wechter FundClaire and David EllmanClaire and David EllmanLaura & Myron JuchaLaura & Myron JuchaLouis and Arlene Navias Louis and Arlene Navias FoundationFoundationSuzanne & Doron LurieSuzanne & Doron LuriePhyllis MeyersonPhyllis MeyersonChaverut ($360-$1,799)Chaverut ($360-$1,799)Brenda & Stephen AbelkopBrenda & Stephen AbelkopBerner Family FundBerner Family FundJordan BlockJordan BlockMarilyn Colby and Evans Family Marilyn Colby and Evans Family FundFundBeth DabbyBeth DabbyKaren & Steven FeitelbergKaren & Steven FeitelbergWendy Burk & Harold FryshWendy Burk & Harold FryshZ. Goldberg Family Charitable Z. Goldberg Family Charitable FundFundLori & Gary GreenbergLori & Gary GreenbergTanya and Andrew HackelTanya and Andrew HackelJCF Chief Financial Ocer’s JCF Chief Financial Ocer’s Fund of the Jewish Community Fund of the Jewish Community FoundationFoundationSally & Luis MaizelSally & Luis MaizelGreg and Julianne MarkowGreg and Julianne MarkowAmy & Perry NisenAmy & Perry NisenJe and Gina PlattJe and Gina PlattLaurayne RatnerLaurayne RatnerAyesha & Nathaniel SchusterAyesha & Nathaniel SchusterMona & Jay SonnensheinMona & Jay SonnensheinSpielman Family FoundationSpielman Family FoundationBarbara & Larry ShermanBarbara & Larry ShermanSwidler Family FundSwidler Family FundTauber Family FundTauber Family FundLegacy Circle MembersLegacy Circle MembersMiriam Miriam Lieber Lieber Charlene Charlene Seidle Seidle Denise and Sydney Denise and Sydney SelatiSelatiClaire and Robert Claire and Robert SigalSigalJoyce Joyce Whitehead Whitehead THANK YOU2024 FINANCIAL HIGHLIGHTS= Legacy Circle Supporter= Legacy Circle Supporter
GRAEME GABRIEL, PRESIDENTLESLEY DAVIS, SECRETARYRICK VANN, TREASURER BEN ARNOLDMITCHELL DUBICKLEO EISENBERGSUZI FELDMANLEONARD GREGORYKAY GURTINANDREW HACKELHILARY ISAKOWSELWYN ISAKOWMIRIAM NORTENCHARLENE SEIDLESUSAN CHORTEK WEISMANMindi Frankel, Executive DirectorMiriam Lieber, Director of OperationsJoanna Kaplan, Operations & Marketing Manager9404 Genesee Ave, Suite 200La Jolla, CA 92037Ph: (858) 345-8018email: info@hsd.org www.hsd.orgImproving lives through free loansJoin the HFLSD Legacy Circle and create a lasting ripple of impact for generations to come!2025 BOARD OF DIRECTORSSTAFF