The Hebrew Free Loan Association
Charitable organization · Montreal, Quebec · BN 118955442RR0001 · Organizations Relieving Poverty · website
Source: T3010 return, FPE 2024-12-31. Split of total expenditures ($455,098) as filed with the CRA.
The Hebrew Free Loan Association is a charitable organization based in Montreal, Quebec, classified by the CRA under organizations relieving poverty. In its fiscal year ending December 31, 2024, it reported $714K in revenue and $455K in expenditures.
Its funding that year was roughly 73% from donations. In 2024, 15 other registered charities reported granting it a combined $420K.
Compared with 2,470 poverty-relief charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 40% of peers. Its reserves, measured in years of spending on hand, sat in the top decile of the group. Its highest-paid position fell in the $120,000–159,999 range. The charity reported 2 permanent full-time positions.
Revenue has grown substantially over its filings on record here, from $348K in 2020 to $714K in 2024. Its filed list of directors and trustees shows 15 names.
In its own words
Interest free loans to needy students and other individuals
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $714K | $455K | $382K | $27K | — | $6.4M |
| 2023 | $593K | $371K | $306K | $32K | — | $5.4M |
| 2022 | $1M | $402K | $318K | $24K | — | -$43K |
| 2021 | $228K | $285K | $226K | — | — | $4.6M |
| 2020 | $348K | $271K | $216K | — | — | $4.6M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Money between charities, 2024
Received $420K from 15 charities:
- Jewish Community Foundation of Montreal$271K
- The Azrieli Foundation$50K
- Canadahelps Canadon$39K
- Canadahelps Canadon$39K
- Federation Cja$5,000
- The Barbara and David Zukor Charitable Foundation of Hampstead$5,000
- Fondation Familiale Gewurz/Gewurz Family Fondation$3,600
- WCPD Foundation$2,000
- Zolfam Matan Bceter Foundation$1,800
- The Irving Ludmer Foundation$1,500
- The Norman Zavalkoff Family Foundation$1,000
- Canadian Online Giving Foundation$960
- Zichron David and Pesie Grunberger Fund$750
- Rose and Daniel Freedman Foundation Fondation Rose et DanielFreedman$500
- Menucha Vesimcha$100
As reported on the donors’ own T3010 qualified-donee schedules.
What it pays
Its ten highest-paid positions, by band:
- $120,000–159,9991 position
- $1–39,9991 position
- Permanent full-time positions2
- Total compensation, all staff$289K
Schedule 3 of its 2024 return. The CRA discloses bands, not names or exact salaries.
Directors & trustees (2024)
Iris Aaron (director); Heather Adelson (chairman of the board); Kathy Cohen (2nd vice president); Ariel Dayan-Medalsy (director); Jack Dworkind (president); Jacob Falutz (director); Rena Gornitsky (director past president); Stacy Gurman (secretary); Andrew Koenig (director); Frank Leboff (director past president); Nicky Madoff (director); Marc Mintzberg (director past president); Jack Noodelman (treasurer past president); Sharron Scwartz (director past president); Daniel Zolov (1st vice president).
As listed on its 2024 return.
Check the source
Every figure on this page is from The Hebrew Free Loan Association’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 118955442RR0001), or read how we compute the receipt.