2024-11-15T13:54:19-06:00 2023-12-31 381357951 PLANTE & MORAN PLLC 8181 E TUFTS AVE SUITE 600 DENVER CO 80237 990PF 2023-01-01 383126310 CINNAIRE CORPORATION CINN 5174828555 1118 S WASHINGTON AVENUE LANSING MI 48910 BRETT OUMDEIAN CFO 5174828555 2024-11-15 1 1 DORI J EGGETT P00645252 3037409400 2024-11-13 2023 2024-10-15 13:58:12Z X X 73402742 X 1100000 1240383 1240383 1240383 601322 987134 601322 601322 22785540 694974 22785540 25727245 2536679 24627245 4976882 435894 4540988 0 8515425 702303 7813122 0 2726751 224887 2501864 0 106198 0 106198 0 164286 8214 156072 0 1951037 62828 1888209 0 7984 0 7984 0 249940 0 12425 0 60262 0 60262 607361 30368 576993 0 836005 0 836005 0 4246536 0 4246536 0 24448667 1464494 22746658 0 139417 139417 24588084 1464494 22746658 139417 1139161 1072185 1880587 33499802 13297884 13297884 34390466 9572662 19502989 24817804 24817804 382538 357038 357038 3026398 7457668 7457668 575250 667280 667280 0 7379869 7379869 1401912 206977 206977 1791077 1138038 758298 653039 653039 16406828 18565183 18565183 75554015 73402742 73402742 10885707 5993014 284762 1866856 1465939 991859 382553 926309 13018961 9778038 X 0 0 0 0 62535054 63624704 62535054 63624704 75554015 73402742 62535054 1139161 41425 63715640 90936 63624704 PUBLICLY TRADED SECURITIES P 379809 385812 -6003 -6003 SALE OF REAL ESTATE PORTFOLIO P 607325 607325 607325 601322 601322 14903 0 14903 0 14903 0 0 0 0 0 866 15769 0 0 0 0 0 0 0 0 0 0 1 1 MI IN 1 1 0 0 0 1 WWW.CINNAIRE.COM BRETT OUMEDIAN 5174828555 1118 S WASHINGTON AVENUE LANSING MI 489331062 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MARK MCDANIEL 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF EXECUTIVE OFFICER 40.00 898990 43852 0 KEVIN CRAWLEY 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF OPERATING OFFICER 40.00 573264 43852 0 DEBORAH TOBY 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF HUMAN RESOURCE OFFICER 40.00 509319 43852 0 BRETT OUMEDIAN 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF FINANCIAL OFFICER 40.00 508602 43852 0 LUCIUS VASSAR 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF LEGAL OFFICER 40.00 402936 43852 0 SUSAN FRANK 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 372538 43852 0 JENNIFER EVERHART 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 345457 43852 0 RYAN ROBINSON 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 338803 43852 0 KATHERINE FORTH 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 311333 43514 0 DONSIA STRONG HILL 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 252370 40654 0 CHRISTOPHER LAURENT 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 242565 43045 0 SARAH GREENBERG 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 220705 33993 0 WENDELL JOHNS 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 MICHAEL J TAYLOR 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 CHRISTINE R HOBBS 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 QUINETTA ROBERSON CONNALLY 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 AMANDULA ANDERSON 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 PAUL J WEAVER 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 FRED GREENE 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 DONALD F TUCKER 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 DERRICK COLLINS 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 SARIDA SCOTT 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 BRETT MACLEOD 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 TAMARA DUDUKOVICH 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 MATTHEW HODGES 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 358012 40061 0 BENJAMIN STEHOUWER 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 310205 43852 0 PAMELA HETZ 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 280329 40061 0 JOSHUA GHENA 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 258602 41685 0 CORINNE HYZNY 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 256055 39274 0 128 SMALL BUSINESS ASSOCIATION OF MICHIGAN 660 CASCADE WEST PARKWAY SE GRAND RAPIDS MI 49546 HEALTH INSURANCE 1887956 GREATER MINNESOTA HOUSING FUND 332 MINNESOTA STREET STE 1650 ST PAUL MN 55101 CONSULTING 657264 KUTAK ROCK LLP PO BOX 30057 OMAHA NE 68103 LEGAL 325909 MARBLE LEADERSHIP PARTNERS INC 200 S WACKER DRIVE 31ST FLOOR CHICAGO IL 60606 CONSULTING 321681 CLARK HILL PLC PO BOX 3760 PITTSBURGH PA 15230 LEGAL 265849 21 CINNAIRE PROVIDES EQUITY CAPITAL AND FLEXIBLE LOANS TO EXPAND AND PRESERVE AFFORDABLE HOUSING IN UNDERSERVED COMMUNITIES. THESE INVESTMENTS REVITALIZE NEIGHBORHOODS, EMPOWER INDIVIDUALS AND CREATE ECONOMIC OPPORTUNITIES. 24147140 PARTNERSHIP INTERESTS IN LOW-INCOME HOUSING TAX CREDIT FUNDS HELD TO ADVANCE AFFORDABLE HOUSING FOR LOW-INCOME RESIDENTS 9072202 9072202 14059985 16517296 0 30577281 0 0 30577281 458659 30118622 1505931 X 139417 9072202 9211619 X 1505931 1292672 429779 0 3228382 1280041 1098771 365312 0 2744125 9211619 568306 4152971 4130072 18062968 139417 568306 411327 129237 1248287 9072202 0 3741644 4000835 16814681 0 0 1003954 861781 713896 495125 3074756 0 0 0 0 X AREA AGENCY ON AGING OF WESTERN MICHIGAN 3215 EAGLECREST DR GRAND RAPIDS MI 49525 PC GENERAL SUPPORT 100 BREAKTHROUGH T1D (FKA JDRF) PO BOX 5021 HAGERSTOWN MD 21741 PC GENERAL SUPPORT 1000 CAP SERVICES 2900 HOOVER RD STE A STEVENS POINT WI 54481 PC GENERAL SUPPORT 500 CAPITAL REGION COMMUNITY FOUNDATION 330 MARSHALL STREET STE 300 LANSING MI 48912 PC GENERAL SUPPORT 518 CARE FREE MEDICAL 1100 W SAGINAW ST LANSING MI 48915 PC GENERAL SUPPORT 1720 CHOSEN VISION PO BOX 281 DEWITT MI 48820 PC GENERAL SUPPORT 1120 FRANKLIN WRIGHT SETTLEMENTS 3360 CHARLEVOIX DETROIT MI 48207 PC GENERAL SUPPORT 500 GREATER LANSING AREA HOLIDAY COMMISSION PO BOX 24112 LANSING MI 48909 PC GENERAL SUPPORT 70000 GREATER MILWAUKEE URBAN LEAGUE 435 W NORTH AVE MILWAUKEE WI 53212 PC GENERAL SUPPORT 2594 HAVEN HOUSE 121 WHITEHILLS DR EAST LANSING MI 48823 PC GENERAL SUPPORT 5000 MENTOR WASHINGTON 15500 SE 30TH PLACE STE 200 BELLEVUE WA 98007 PC GENERAL SUPPORT 160 MICHIGAN ASSOCIATION OF UNITED WAYS 330 MARSHALL STREET STE 211 LANSING MI 48912 PC GENERAL SUPPORT 50000 MICHIGAN CHILDREN'S TRUST FUND 235 S GRAND AVE STE 1411 LANSING MI 48933 PC GENERAL SUPPORT 860 REACH RIVERSIDE 1121 THATCHER STREET WILMINGTON DE 19802 PC GENERAL SUPPORT 1545 RECONSTRUCTIONIST RABBINICAL COLLEGE 1299 CHURCH ROAD WYNCOTE PA 19095 PC GENERAL SUPPORT 150 SPECIAL OLYMPICS MICHIGAN 1120 S MISSION STREET MT PLEASANT MI 48858 PC GENERAL SUPPORT 1050 ST JUDE CHILDREN'S RESEARCH HOSPITAL 501 ST JUDE PLACE MEMPHIS TN 38105 PC GENERAL SUPPORT 100 TRANSCENDENCE PERFORMING ARTS CENTER INC 317 VILLAGE DRIVE LANSING MI 48911 PC GENERAL SUPPORT 2500 139417 0 ACQUISITION FEES 12907395 NEW MARKET TAX CREDIT FEES 466389 DEVELOPMENT AND INVESTOR FEES 6152931 CONSULTING AND UNDERWRITING 45455 INTEREST INCOME-LOANS 694974 MISCELLANEOUS 374601 DISPOSITION FEES 496320 FUND DISSOLUTION FEES 541824 BAD DEBT RECOVERY 459376 LOAN LOSS ADJUSTMENT 646275 14 1240383 18 601322 0 1841705 22785540 24627245 1A DEVELOPMENT FEES CHARGED RELATED TO PROVIDING EXPERTISE IN THE DEVELOPMENT OF HOUSING FOR LOW INCOME TENANTS IN CONJUNCTION WITH LOCAL NONPROFIT ORGANIZATIONS ALLOWS THE ORGANIZATION TO BUILD CAPACITY TO DEVELOP ADDITIONAL HOUSING SITES FOR LOW INCOME TENANTS AND TO ASSIST ADDITIONAL LOCAL NONPROFIT ORGANIZATIONS IN THEIR RELATED EFFORTS. 1B LOANS ARE MADE TO ECONOMICALLY UNDERSERVED COMMUNITIES TO SUPPORT HOUSING AND ECONOMIC OPPORTUNITIES FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. THE LOW AND MODERATE INCOME PEOPLE ARE TYPICALLY RESIDENTS OF RURAL AREAS. THE BORROWERS ARE NOT ELIGIBLE FOR TYPICAL BANK FINANCING. LOAN TERMS, DURATION, MATURITY, AND LOAN TO VALUE TERMS ARE NOT OFFERED BY COMMERCIAL BANK OR CREDIT UNIONS. 0 0 0 0 0 0 0 0 0 0 X X 1 PROPERTY STABILIZATION INC 1118 S WASHINGTON AVE LANSING MI 48910 700000 X 2 PRESERVATION NON-PROFIT HOUSING CORPORATION 1118 S WASHINGTON AVE LANSING MI 48910 250000 X 3 GREAT LAKES AFFORDABLE HOUSING FUND 2014 1118 S WASHINGTON AVE LANSING MI 48910 150000 X ACCOUNTING & AUDIT 164286 8214 156072 0 PACCAR FINL CORP 167559 167559 REALTY INCOME CORP 196845 196845 PEPSICO INC 170430 170430 CONSUMERS ENERGY CO 196328 196328 APPLE INC 173825 173825 BP CAP MKTS AMER INC 167565 167565 UNITEDHEALTH GRP INC 198443 198443 AMERICAN HONDA FIN CORP 173589 173589 TOTAL CAP INTL 172801 172801 UNITED PARCEL SVC INC 170269 170269 TARGET CORP 170492 170492 HOME DEPOT INC 173124 173124 DUKE ENERGY FL LLC 172287 172287 S&P GLBL INC 173032 173032 WALT DISNEY CO 197411 197411 AIR PRODS & CHEMS INC 171512 171512 NEXTERA ENERGY CAP HLDGS 200281 200281 LOCKHEED MARTIN CORP 172512 172512 PRINCIPAL FINL GRP INC 198810 198810 BHP BILLITON FIN USA LTD 173261 173261 PHILIP MORRIS INTL INC 202265 202265 COMCAST CORP NEW 173207 173207 TJX COS INC NEW 172856 172856 NVIDIA CORP 175218 175218 BARCLAYS PLC 174783 174783 PFIZER INC 172108 172108 THERMO FISHER SCIENTIFIC 173436 173436 KIMBERLY CLARK CORP 172643 172643 SIMON PPTY GRP LP 175558 175558 PROGRESSIVE CORP 168016 168016 AMERIPRISE FINL INC 166947 166947 JOHN DEERE CAP CORP 168018 168018 CONOCOPHILLIPS 165963 165963 MARSH & MCLENNAN COS INC 168032 168032 CITIGROUG INC 170945 170945 TOYOTA MOTOR CREDIT CORP 171746 171746 COMWLTH EDISON CO 168126 168126 AVALONBAY CMNTYS INC 167091 167091 HONEYWELL INTL INC 170747 170747 QUALCOMM INC 171014 171014 MERICAN EXPR CO 169454 169454 WESTPAC BKG CORP 171320 171320 AMERICAN INTL GROUP INC NEW 5014 5014 AMERICAN TOWER CORP NEW 11442 11442 APOLLO GLOBAL MANAGEMENT INC NEW 20129 20129 APPLE INC 12514 12514 ASTRAZENECA PLC SPONSORED ADR 6264 6264 AVALONBAY COMMNTYS INC 9923 9923 BECTON DICKINSON & CO 14386 14386 BROADCOM INC 12279 12279 CAPITAL ONE FINANCIAL CORP 7867 7867 CHESAPEAKE ENERGY CORP 1847 1847 CISCO SYSTEMS INC 5709 5709 COCA-COLA COMPANY 11020 11020 COMCAST CORP CL A NEW 16882 16882 DIAGEO PLC NEW SPON ADR 8157 8157 EDISON INTL 9079 9079 ENBRIDGE INC 15092 15092 EQT CORP 2436 2436 EXXON MOBIL CORP 5199 5199 FREEPORT MCMORAN INC 5279 5279 GENERAL MOTORS CO 4957 4957 GILEAD SCIENCES INC 6319 6319 HOME DEPOT INC 10743 10743 INTEL CORP 8442 8442 JOHNSON & JOHNSON 10031 10031 JPMORGAN CHASE & CO 15139 15139 LINDE PLC NEW 15196 15196 MASTERCARD INC CL A 5545 5545 MERCK & COMPANY INC NEW 10466 10466 METLIFE INC 8531 8531 MICROSOFT CORP 28955 28955 MONDELEZ INTERNATIONAL INC CL A 10502 10502 NESTLE S A SPON ADR REPSTG REG SHS 10638 10638 NORTHROP GRUMMAN CORP 7958 7958 ORACLE CORP 8434 8434 PFIZER INC 4923 4923 PIONEER NATURAL RESOURCES CO 8545 8545 PNC FINANCIAL SERVICES GROUP INC 6504 6504 PPG INDUSTRIES INC 9721 9721 PROCTER & GAMBLE CO 8792 8792 PUBLIC STORAGE INC 7625 7625 RTX CORP 9087 9087 SAP SE SPON ADR 9430 9430 SEMPRA 16441 16441 T- MOBILE US INC 9620 9620 TEXAS INSTRUMENTS INC 3580 3580 TRAVELERS COS INC 12763 12763 UNION PACIFIC CORP 12527 12527 UNITED PARCEL SERVICE INC CL B 6289 6289 UNITEDHEALTH GROUP INC 12109 12109 VISA INC CL A 12497 12497 VULCAN MATERIALS COMPANY 13394 13394 WALT DISNEY CO 3702 3702 WASTE MANAGEMENT INC DEL 8597 8597 WILLIAMS COS INC DEL 15778 15778 AMERICAN INTL GROUP INC NEW 1287 1287 AMERICAN TOWER CORP NEW 2806 2806 APOLLO GLOBAL MANAGEMENT INC NEW 5219 5219 APPLE INC 3080 3080 ASTRAZENECA PLC SPONSORED ADR 1549 1549 AVALONBAY COMMNTYS INC 2434 2434 BECTON DICKINSON & CO 3657 3657 BROADCOM INC 3349 3349 CAPITAL ONE FINANCIAL CORP 1967 1967 CHESAPEAKE ENERGY CORP 462 462 CISCO SYSTEMS INC 1617 1617 COCA-COLA COMPANY 2534 2534 COMCAST CORP CL A NEW 4253 4253 DIAGEO PLC NEW SPON ADR 2039 2039 EDISON INTL 2288 2288 ENBRIDGE INC 3782 3782 EQT CORP 619 619 EXXON MOBIL CORP 1300 1300 FREEPORT MCMORAN INC 1320 1320 GENERAL MOTORS CO 1257 1257 GILEAD SCIENCES INC 1620 1620 HOME DEPOT INC 2772 2772 INTEL CORP 2111 2111 JOHNSON & JOHNSON 2508 2508 JPMORGAN CHASE & CO 3742 3742 LINDE PLC NEW 3696 3696 MASTERCARD INC CL A 1280 1280 MERCK & COMPANY INC NEW 3162 3162 METLIFE INC 1918 1918 MICROSOFT CORP 7145 7145 MONDELEZ INTERNATIONAL INC CL A 2607 2607 NESTLE S A SPON ADR REPSTG REG SHS 2659 2659 NORTHROP GRUMMAN CORP 1873 1873 ORACLE CORP 2109 2109 PFIZER INC 1238 1238 PIONEER NATURAL RESOURCES CO 2024 2024 PNC FINANCIAL SERVICES GROUP INC 1549 1549 PPG INDUSTRIES INC 2393 2393 PROCTER & GAMBLE CO 2198 2198 PUBLIC STORAGE INC 1830 1830 RTX CORP 2272 2272 SAP SE SPON ADR 2319 2319 SEMPRA 4185 4185 T- MOBILE US INC 2405 2405 TEXAS INSTRUMENTS INC 852 852 TRAVELERS COS INC 3238 3238 UNION PACIFIC CORP 2702 2702 UNITED PARCEL SERVICE 1572 1572 UNITEDHEALTH GROUP INC 2632 2632 VISA INC CL A 3124 3124 VULCAN MATERIALS COMPANY 3405 3405 WALT DISNEY CO 903 903 WASTE MANAGEMENT INC DEL 2149 2149 WILLIAMS COS INC DEL 3971 3971 2585450 2585450 4872218 4872218 LAG ADJUSTMENT - JANNEY INVESTMENTS FMV 206977 206977 COMPUTER EQUIPMENT 653788 648509 5279 5279 OFFICE EQUIPMENT 16650 11655 4995 4995 FURNITURE & FIXTURES 420387 360923 59464 59464 LEASEHOLD IMPROVEMENTS 136475 64888 71587 71587 LAND IMPROVEMENTS 14540 3938 10602 10602 CAPITAL LEASE EQUIPMENT 0 0 LOAN FEES 60000 48125 11875 11875 CAPITALIZED INVESTMENT COSTS 489237 0 489237 489237 LEGAL FEES 106198 0 106198 0 SECURITY DEPOSITS 21780 21780 21780 SERVICING RIGHTS 500000 0 0 INVESTMENT IN AFFILIATES 42800 9115002 9115002 INTEREST RECEIVABLE 189222 51432 51432 PROGRAM-RELATED LOANS 14832360 8460358 8460358 OPERATING LEASE RIGHT OF USE ASSET 820666 916611 916611 OTHER ADJUSTMENT 90936 INSURANCE 236319 0 236319 0 OFFERING & ORG ALLOWANCE 271420 0 271420 0 OFFICE EXPENSES 1199520 0 1199520 0 MARKETING/SPONSORSHIPS 1151747 0 1151747 0 ISF PROVISION 1086117 0 1086117 0 MEALS 183023 0 183023 0 GRANT EXPENSE 10000 0 10000 0 BAD DEBT EXPENSE 105931 0 105931 0 CHARITABLE EXPENSES 2459 0 2459 0 ACQUISITION FEES 12907395 12907395 NEW MARKET TAX CREDIT FEES 466389 466389 DEVELOPMENT AND INVESTOR FEES 6152931 6152931 CONSULTING AND UNDERWRITING 45455 45455 INTEREST INCOME-LOANS 694974 694974 694974 MISCELLANEOUS 374601 374601 DISPOSITION FEES 496320 496320 FUND DISSOLUTION FEES 541824 541824 BAD DEBT RECOVERY 459376 459376 LOAN LOSS ADJUSTMENT 646275 646275 UNREALIZED GAIN ON INVESTMENTS 41425 OPERATING LEASE LIABILITY` 382553 926309 CONSULTING 1888209 0 1888209 0 INVESTMENT MANAGEMENT EXPENSES - JANNEY 62828 62828 0 0 INCOME TAX EXPENSE 237515 0 0 0 PERSONAL PROPERTY TAX 12425 0 12425 0