2023-06-23T13:21:10-05:00 2022-12-31 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2022-01-01 411380923 FAMILY HOUSING FUND FAMI 6123759644 310 4TH AVENUE SOUTH 9000 MINNEAPOLIS MN 55415 ELLEN K SAHLI PRESIDENT 6123759644 2023-06-20 1 ELLEN SAHLI XXX-XX-XXXX 1 KAREN A GRIES P00078514 6128764500 2023-06-20 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ELLEN K SAHLI 310 4TH AVENUE SOUTH 9000 MINNEAPOLIS MN 55415 13861572 0 X WWW.FHFUND.ORG X 1980 MN TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS. 22 22 10 25 0 0 41647462 7394692 701504 634128 4890 62189 1593 8839 42355449 8099848 35969743 7114852 0 0 1050624 976774 0 0 210418 4009637 1697468 41030004 9789094 1325445 -1689246 55836528 49343044 9017058 1730526 46819470 47612518 X THE FAMILY HOUSING FUND IS A NONPROFIT INTERMEDIARY ORGANIZATION WHOSE MISSION IS TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS. 0 0 3991152 3991152 EMERGENCY RENTAL ASSISTANCE DURING 2022, THE FUND MANAGED A LANDLORD-BASED PROGRAM CALLED THE ZERO BALANCE PROJECT FOR FIVE JURISDICTIONS (MINNEAPOLIS, SAINT PAUL AND HENNEPIN, RAMSEY AND DAKOTA COUNTIES) THAT ALLOWED LANDLORDS TO SUBMIT MULTIPLE APPLICATIONS ON BEHALF OF TENANTS ALL AT ONCE. LANDLORDS WERE ABLE TO SUBMIT REQUIRED DOCUMENTATION (SUCH AS LEASE OR RENT LEDGER) BEFORE THE TENANTS PROVIDED THEIR REQUIRED DOCUMENTATION (SUCH AS INCOME). THIS PROVIDED GREATER EFFICIENCY FOR LANDLORDS WITH MULTIPLE BUILDINGS AND TENANTS AND EASED THE BURDEN FOR TENANTS WHO WERE IN FINANCIAL DISTRESS. THE FUND ALSO ADMINISTERED A TENANT-BASED PROGRAM FOR DAKOTA COUNTY. RENTAL ASSISTANCE FOR TENANTS PROVIDED FROM THE ZERO-BALANCE PROJECT IN 2022 TOTALED $3,335,117. RENTAL ASSISTANCE FOR TENANTS FROM THE DAKOTA COUNTY PROGRAM IN 2022 TOTALED $656,035. 2111156 1778700 BUILDING EQUITY THE FUND SUPPORTS INDIVIDUALS IN PURCHASING SMALL MULTIFAMILY HOMES (2-4 UNIT PROPERTIES) AND SUSTAINING SUCCESS AS OWNER-OCCUPANT LANDLORDS. THIS PROGRAM AIMS TO REDUCE RACIAL WEALTH DISPARITIES BY PRIORITIZING ENGAGEMENT WITH BLACK, INDIGENOUS, AND PEOPLE OF COLOR HOMEBUYERS AND HELPING THEM ONTO AN ACCELERATED WEALTH BUILDING PATH. AS PART OF THIS INITIATIVE, THE FUND SUPPORTS TRAINING OPTIONS SPECIFIC TO SMALL MULTIFAMILY HOME OWNERSHIP AND PROVIDES A VARIETY OF FINANCIAL SUPPORTS, INCLUDING DOWN PAYMENT ASSISTANCE LOANS, POST-PURCHASE LOANS, AND A POST-PURCHASE SAVINGS INCENTIVE. THE FUND ALSO WORKS WITH PARTNERS TO INCREASE THE SUPPLY OF 2-4 UNIT HOMES AVAILABLE FOR PURCHASE. 1187599 1097000 EXPAND OPPORTUNITIES THE EXPAND OPPORTUNITIES PROGRAM AREA AIMS TO IMPROVE FAMILIES' INTERACTION WITH THE AFFORDABLE HOUSING SYSTEM, IMPROVE HOUSING STABILITY, AND EXPAND ACCESS TO QUALITY, AFFORDABLE HOUSING OPPORTUNITIES. TO ACCOMPLISH THIS, THE FUND LEADS AND COORDINATES ACTIVITIES THAT ADDRESS LIMITS TO FAMILIES' CHOICES IN HOUSING, IN PARTNERSHIP WITH PUBLIC AND PRIVATE PARTNERS. 1759458 248000 634128 THE FUND CONTINUES TO SERVE AS THE FISCAL SPONSOR FOR SEVERAL INITIATIVES TO END HOMELESSNESS. THE FUND ALSO CONTINUES TO WORK WITH LOCAL GOVERNMENTS, NONPROFIT ORGANIZATIONS, AND THE MORTGAGE COMPANY INDUSTRY TO HELP LOW AND MODERATE-INCOME FAMILIES BECOME SUCCESSFUL HOMEOWNERS. THE FUND MAINTAINS RESOURCES TO IDENTIFY EMERGING ISSUES THAT AFFECT THE AFFORDABLE HOUSING NETWORK AND TO HELP DEVELOP STRATEGIES TO ADDRESS THESE ISSUES. THE FUND EXPANDS PUBLIC UNDERSTANDING OF THE VALUE OF AFFORDABLE HOUSING AND PUBLIC WILL TO PRESERVE AND PRODUCE AFFORDABLE HOUSING IN THE CONTEXT OF A COMPREHENSIVE REGIONAL DEVELOPMENT APPROACH THAT SERVES ALL COMMUNITIES AND THEIR RESIDENTS. THE FUND SUPPORTS HOMEOWNERSHIP EDUCATION, COUNSELING, AND TRAINING (HECAT), EQUIPPING A NETWORK OF HOMEOWNERSHIP ADVISORS TO ASSIST FAMILIES BEFORE THEY PURCHASE THEIR HOMES, AT THE TIME OF PURCHASE, AND AFTER THE FAMILY HAS PURCHASED A HOME. THE FUND WORKS WITH PRIVATE AND PUBLIC PARTNERS TO FUND HECAT. THE FUND ALSO CONTINUES TO MANAGE ITS PORTFOLIO OF AFFORDABLE HOMEOWNERSHIP LOANS FROM SEVERAL PAST HOMEOWNERSHIP PROGRAMS. THESE PROGRAMS PROVIDED AFFORDABLE, SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES TO LOW- AND MODERATE-INCOME FAMILIES. 1759458 248000 634128 9049365 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 400 0 10 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X ELLEN K SAHLI 6123759644 310 4TH AVE SOUTH STE 9000 MINNEAPOLIS MN 55415 ALENE TCHOURUMOFF CHAIRPERSON 2.00 X X 0 0 0 JOHN QUINCY VICE PRESIDENT/TREASURER 3.00 X X 0 0 0 D'ANGELOS SVENKESON VICE PRESIDENT 3.00 X X 0 0 0 REBECCA NOECKER VICE PRESIDENT 3.00 X X 0 0 0 ANDREA BRENNAN VICE PRESIDENT 3.00 X X 0 0 0 TRAVIS BISTODEAU DIRECTOR 2.00 X 0 0 0 NICHOL DEHMER DIRECTOR 2.00 X 0 0 0 AARICA COLEMAN DIRECTOR 2.00 X 0 0 0 KIZZY DOWNIE DIRECTOR 2.00 X 0 0 0 WILLIAM DROSTE DIRECTOR 2.00 X 0 0 0 BLANCA MARTINEZ GAVINA DIRECTOR 2.00 X 0 0 0 DANIELLE GRANT DIRECTOR 2.00 X 0 0 0 ELENA GAARDER DIRECTOR 2.00 X 0 0 0 LISA GOODMAN DIRECTOR 2.00 X 0 0 0 MITRA JALILI DIRECTOR 2.00 X 0 0 0 KASEY KIER DIRECTOR 2.00 X 0 0 0 CRAIG KLAUSING DIRECTOR 2.00 X 0 0 0 AMY MCCULLOCH DIRECTOR 2.00 X 0 0 0 ANISHA MURPHY DIRECTOR 2.00 X 0 0 0 JAMAL OSMAN DIRECTOR 2.00 X 0 0 0 AMY STEZEL DIRECTOR 2.00 X 0 0 0 JONATHAN WEINHAGEN DIRECTOR 2.00 X 0 0 0 LAURA HELMER DIRECTOR 2.00 X 0 0 0 JENNIFER ANDERSON DIRECTOR 2.00 X 0 0 0 AMANDA KOONJBEHARRY DIRECTOR 2.00 X 0 0 0 ELLEN SAHLI PRESIDENT 40.00 X 224474 0 46090 FUMIKO SALONE DIRECTOR OF OPERATIONS 40.00 X 119477 0 32467 343951 0 78557 2 0 1 0 CLIFTON LARSON ALLEN 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 ACCOUNTING & ADMINISTRATIVE SERVICES FOR 881464 1 4558893 2835799 7394692 INTEREST-HOUSING LOAN 624200 611050 611050 FEE INCOME 541610 23078 23078 634128 62189 62189 5761724 5761724 0 MISCELLANEOUS 624200 8839 8839 8839 8099848 634128 0 71028 3123700 3123700 3991152 3991152 270655 155451 71181 44023 550716 316305 144835 89576 43197 24810 11361 7026 60978 35023 16037 9918 51228 29423 13473 8332 70763 64974 5789 136432 136432 84000 84000 648749 630000 18749 136783 78562 35973 22248 54260 31164 14270 8826 16036 3692 12344 11684 11684 200066 170183 18464 11419 55637 31955 14632 9050 PROVISION FOR LOAN LOSS 267187 267187 PROVISION FOR LOAN LOSS 14468 14468 MISCELLANEOUS 1403 100 1303 9789094 9049365 529311 210418 3458662 1362046 13135249 14707855 1552000 0 1267491 76460 55733 69696 494333 396657 167882 97676 36199511 32923248 0 106063 55836528 49343044 1109475 176592 3633000 1067000 165641 128167 3870140 0 238802 358767 9017058 1730526 X 41628323 43040007 5191147 4572511 46819470 47612518 55836528 49343044 X -1689246 428 2481866 X 0 1 X 1 0 X X 4 CITY OF ST PAUL 416005521 6 1 0 0 CITY OF MINNEAPOLIS 416005375 6 1 0 0 METROPOLITAN COUNCIL 416008898 6 1 0 0 MINNESOTA HOUSING FINANCE AGENCY 411599130 6 1 0 0 4 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 PART IV, SECTION B, LINE 2: AS A SUPPORTING ORGANIZATION OF GOVERNMENT, THE FAMILY HOUSING FUND WORKS COLLABORATIVELY WITH MINNESOTA HOUSING, THE METROPOLITAN COUNCIL, AND THE CITIES OF MINNEAPOLIS AND ST. PAUL, SUPPORTING THEIR HOUSING POLICIES AND PROGRAMS AND DELIVERING TESTED SOLUTIONS TO HOUSING CHALLENGES. THE FOUR GOVERNMENT ENTITIES APPOINT FOUR MEMBERS EACH TO THE FAMILY HOUSING FUND BOARD OF DIRECTORS. APPOINTMENTS BY GOVERNMENT PARTNERS RANGE FROM AGENCY LEADERSHIP, TO ELECTED OFFICIALS, TO COMMUNITY MEMBERS. THROUGH THEIR APPOINTED REPRESENTATION, EACH GOVERNMENT AGENCY PARTICIPATES IN GOVERNANCE OF THE FAMILY HOUSING FUND, INCLUDING FINANCIAL OVERSIGHT AND SETTING THE STRATEGIC DIRECTION. THIS INCLUDES THE APPROVAL OF GRANTS BEING AWARDED TO ORGANIZATIONS OTHER THAN THE SUPPORTED ORGANIZATIONS MENTIONED ABOVE. DETAILED DISCUSSIONS DURING BOARD MEETINGS SURROUNDING EACH GRANT AWARD CONSIDERED ENSURES THAT GRANTS AWARDED BY THE FAMILY HOUSING FUND FURTHER THE EXEMPT PURPOSE OF THE FAMILY HOUSING FUND AND ITS SUPPORTED ORGANIZATIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 84000 84000 9494676 9578676 628934 157234 0 0 323049 412197 1000000 628934 2364180 3546270 84101 84000 84000 84000 336101 80762 103049 250000 157234 591045 886568 285471 189631 95840 208862 207026 1836 97676 NET LOAN RECEIVABLE 32923248 F 32923248 LOAN PAYABLE - HENNEPIN COUNTY 251175 LEASE LIABILITY 107592 358767 X 9574142 428 1473866 1474294 8099848 0 8099848 8781094 0 8781094 1008000 1008000 9789094 PART X, LINE 2: THE FUND FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE FUND FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021. THE FUND'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN FROM DECREASE IN PRESENT VALUE DISCOUNT OF LOANS RECEIVABLE 1,473,866. PART XII, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT FOR PRIOR YEAR SCHEDULE I GRANT REPORTING 1,008,000. 1 MINNESOTA HOMEOWNERSHIP CENTER 1000 PAYNE AVE SUITE 200 SAINT PAUL MN 55130 411741817 501(C)(3) 180200 0 N/A N/A HECAT AND SPANISH TRANSLATION PREPARE PROSPER 2610 UNIVERISTY AVE W SUITE 450 SAINT PAUL MN 55114 237131829 501(C)(3) 80000 0 N/A N/A ADMINISTER POST-PURCHASE SAVINGS MATCH PROGRAM BUILDWEALTH MN 2121 PLYMOUTH AVE N MINNEAPOLIS MN 55411 251918239 501(C)(3) 1141500 0 N/A N/A BUILDING EQUITY DOWN PAYMENT ASSISTANCE HOUSINGLINK 1400 VAN BUREN ST NE SUITE 215 MINNEAPOLIS MN 55413 411873314 501(C)(3) 82000 0 N/A N/A GENERAL OPERATIONS MEDIATION OF ANOKA COUNTY 3200 MAIN ST NW SUITE 210 COON RAPIDS MN 55448 411574959 501(C)(3) 30000 0 N/A N/A ANOKA COUNTY HOUSING COURT VOLUNTEER LAWYERS NETWORK 600 NICOLLET MALL SUITE 390A MINNEAPOLIS MN 55402 410988459 501(C)(3) 46875 0 N/A N/A ANOKA COUNTY HOUSING COURT JUDICARE 1201 89TH AVE NE SUITE 310 BLAINE MN 55434 411273521 501(C)(3) 30000 0 N/A N/A ANOKA COUNTY HOUSING COURT CENTRAL MINNESOTA LEGAL SERVICES 111 NORTH 5TH ST SUITE 402 MINNEAPOLIS MN 55403 411299151 501(C)(3) 46875 0 N/A N/A ANOKA COUNTY HOUSING COURT LEGAL AID 430 1ST AVE N SUITE 300 MINNEAPOLIS MN 55401 411412710 501(C)(3) 250000 0 N/A N/A EXPAND OPPORTUNITIES - HENNEPIN & ANOKA COUNTIES DISPUTE RESOLUTION CENTER 91 ARCH ST SAINT PAUL MN 55130 411441352 501(C)(3) 60000 0 N/A N/A EVICTION REDUCTION COMMUNITY MEDIATION AND RESTORATIVE SERVICES 9220 BASS LAKE RD SUITE 270 NEW HOPE MN 55428 411484089 501(C)(3) 50000 0 N/A N/A EVICTION REDUCTION CONFLICT RESOLUTION CENTER 2101 HENNEPIN AVE SUITE 100 MINNEAPOLIS MN 55405 363421329 501(C)(3) 50000 0 N/A N/A EVICTION REDUCTION SOUTHERN MINNESOTA REGIONAL LEGAL SERVICES 55 5TH AVE E SUITE 1000 SAINT PAUL MN 55101 411316151 501(C)(3) 175000 0 N/A N/A SAFETY AND STABILITY WORK HOUSING JUSTICE CENTER 275 E 4TH ST SUITE 590 SAINT PAUL MN 55101 411930525 501(C)(3) 155000 0 N/A N/A RENTERS RECLAIM THE RECORD REGENTS OF THE UNIVERSITY OF MINNESOTA (CURA) 2221 UNIVERSITY AVE SE SUITE 100 MINNEAPOLIS MN 55414 416007513 GOVERNMENT 50000 0 N/A N/A RESEARCH ON CORPORATE OWNERSHIP OF SFR INQUILINXS UNIDXS POR JUSTICIA 3715 CHICAGO AVE S MINNEAPOLIS MN 55407 474987940 501(C)(3) 70000 0 N/A N/A RESEARCH ON CORPORATE OWNERSHIP OF SFR MEDIATION AND RESTORATIVE SERVICES 1201 89TH AVE NE SUITE 380 BLAINE MN 55434 411574959 501(C)(3) 11250 0 N/A N/A ANOKA COUNTY HOUSING COURT RONDO COMMUNITY LAND TRUST 1041 SELBY AVE SAINT PAUL MN 55104 411753148 501(C)(3) 100000 0 N/A N/A BUILDING EQUITY IN SMALL MULTIFAMILY OWNERSHIP COMUNIDADES LATINAS UNIDAS EN SERVICIO INC 797 E 7TH ST SAINT PAUL MN 55106 411386986 501(C)(3) 100000 0 N/A N/A OWNER OCCUPANT LANDLORD TRAINING, SUPPORT, ENGAGEMENT HOPE COMMUNITY 611 E FRANKLIN AVE MINNEAPOLIS MN 55404 411292817 501(C)(3) 50000 0 N/A N/A SMALL MULTIFAMILY OWNERSHIP LAND BANK TWIN CITIES 2401 LOWRY AVE NE SUITE 206 MINNEAPOLIS MN 55418 270260037 501(C)(3) 160000 0 N/A N/A SMALL MULTIFAMILY OWNERSHIP MODEL CITIES 839 UNIVERSITY AVE W SAINT PAUL MN 55104 411687873 501(C)(3) 70000 0 N/A N/A OWNER-OCCUPANTS PURCHASE 2-4 UNIT PROPERTIES CITY OF LAKES COMMUNITY LAND TRUST 1930 GLENWOOD AVE SUITE 1 MINNEAPOLIS MN 55405 061665031 501(C)(3) 12000 0 N/A N/A BUILDING EQUITY REFERRAL PARTNER GRANT MNI SOTA FUND 817 5TH AVE S UNIT 400 MINNEAPOLIS MN 55404 453579582 501(C)(3) 12000 0 N/A N/A BUILDING EQUITY REFERRAL PARTNER GRANT NEW AMERICAN DEVELOPMENT CENTER 2614 NICOLLET AVE S SUITE 207 MINNEAPOLIS MN 55408 320241006 501(C)(3) 12000 0 N/A N/A BUILDING EQUITY REFERRAL PARTNER GRANT PRG INC 2017 E 38TH ST MINNEAPOLIS MN 55407 411280596 501(C)(3) 12000 0 N/A N/A BUILDING EQUITY REFERRAL PARTNER GRANT AFRICAN CAREER EDUCATION & RESOURCES 6800 78TH AVE N SUITE 101 BROOKLYN PARK MN 55445 471207676 501(C)(3) 12000 0 N/A N/A BUILDING EQUITY REFERRAL PARTNER GRANT NEIGHBORHOOD DEVELOPMENT ALLIANCE 481 WABASHA ST S SAINT PAUL MN 55107 411658636 501(C)(3) 12000 0 N/A N/A BUILDING EQUITY REFERRAL PARTNER GRANT BEACON INTERFAITH HOUSING COLLABORATIVE 2610 UNIVERISTY AVE W SUITE 100 SAINT PAUL MN 55114 411953599 501(C)(3) 60000 0 N/A N/A BRING IT HOME MN CAMPAIGN 30 EMERGENCY RENTAL ASSISTANCE 1007 3991152 PART I, LINE 2: FILES ARE KEPT ON GRANTEES AND GRANTS ARE AWARDED TO ORGANIZATIONS SPONSORING HOUSING BENEFITING LOW TO MODERATE INCOME PERSONS. PART III, EMERGENCY RENTAL ASSISTANCE: A. DURING 2022, THE FUND MANAGED A LANDLORD-BASED PROGRAM CALLED THE ZERO BALANCE PROJECT FOR FIVE JURISDICTIONS (MINNEAPOLIS, SAINT PAUL AND HENNEPIN, RAMSEY, AND DAKOTA COUNTIES) THAT ALLOWED LANDLORDS TO SUBMIT MULTIPLE APPLICATIONS ON BEHALF OF TENANTS ALL AT ONCE. LANDLORDS WERE ABLE TO SUBMIT REQUIRED DOCUMENTATION (SUCH AS LEASE OR RENT LEDGER) BEFORE THE TENANTS PROVIDED THEIR REQUIRED DOCUMENTATION (SUCH AS INCOME). THIS PROVIDED GREATER EFFICIENCY FOR LANDLORDS WITH MULTIPLE BUILDINGS AND TENANTS AND EASED THE BURDEN FOR TENANTS WHO WERE IN FINANCIAL DISTRESS. THE FUND ALSO ADMINISTERED A TENANT-BASED PROGRAM FOR DAKOTA COUNTY. RENTAL ASSISTANCE FOR TENANTS PROVIDED FROM THE ZERO BALANCE PROJECT IN 2022 TOTALED $3,335,117. RENTAL ASSISTANCE FOR TENANTS FROM THE DAKOTA COUNTY PROGRAM IN 2022 TOTALED $656,035. THE FUND INCURRED DIRECT COSTS FOR THE ADMINISTRATION OF BOTH PROGRAMS. THESE REIMBURSED COSTS ARE INCLUDED IN GOVERNMENT GRANTS REVENUE IN THE 2021 STATEMENT OF ACTIVITIES. X 0 0 0 0 0 0 0 0 0 ELLEN SAHLI PRESIDENT 219474 0 5000 0 0 0 23784 0 22306 0 270564 0 0 0 FUMIKO SALONE DIRECTOR OF OPERATIONS 119477 0 0 0 0 0 12317 0 20150 0 151944 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY DESIGNATE AN EXECUTIVE COMMITTEE CONSISTING OF AT LEAST THREE DIRECTORS OF THIS CORPORATION. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, AND THE EXECUTIVE COMMITTEE IS AT ALL TIMES SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS CONSISTS OF 24 MEMBERS, 4 MEMBERS ARE APPOINTED BY THE CITY OF SAINT PAUL (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE CITY OF MINNEAPOLIS (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE METROPOLITAN COUNCIL AND 4 BY THE MINNESOTA HOUSING FINANCE AGENCY. THE REMAINING 8 MEMBERS ARE APPOINTED BY THE FAMILY HOUSING FUND BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT AND THE FINANCE COMMITTEE. THE FINANCE COMMITTEE CHAIR WILL THEN PRESENT THE FORM 990 TO THE BOARD AT THE NEXT REGULAR MEETING, BEFORE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C FAMILY HOUSING FUND'S CONFLICT OF INTEREST POLICY REQUIRES THAT, PRIOR TO ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A DIRECTOR OR RESPONSIBLE PERSON WHO HAS A CONFLICT OF INTEREST DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN THE BOARD'S DISCUSSION ON THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSONS SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. SUCH DISCLOSURES WILL BE REFLECTED IN THE MINUTES OF THE MEETING. IF IT WAS NOT ENTIRELY CLEAR WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, THEN THE PERSON WITH THE POTENTIAL CONFLICT WILL DISCLOSE THE CIRCUMSTANCES TO THE PRESIDENT, THE CHAIR OR THE CHAIR'S DESIGNEE, WHO SHALL DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST. EACH RESPONSIBLE PARTY IS REQUIRED TO ANNUALLY SUBMIT A DISCLOSURE FORM IDENTIFYING THE BUSINESSES AND NONPROFIT ORGANIZATIONS OF WHICH SUCH RESPONSIBLE PERSON IS A DIRECTOR, OFFICER, EMPLOYEE OR PARTNER OR IN WHICH SUCH PERSON HAS AN OWNERSHIP INTEREST OF FIVE PERCENT OR MORE. THE POLICY IS REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL HAVE THE AUTHORITY TO ADJUST THE PRESIDENT'S COMPENSATION ON AN ANNUAL BASIS, AT THEIR DISCRETION, THROUGH ANY COMBINATION OF A PERFORMANCE-BASED SALARY INCREASE. THE EXECUTIVE COMMITTEE SHALL BASE THE PRESIDENT'S COMPENSATION ADJUSTMENTS ON CONSIDERATION OF THE PRESIDENT'S PERFORMANCE, THE ORGANIZATION'S BUDGET, MARKET CONDITIONS AND FHFUND'S FINANCIAL POSITION. THE PRESIDENT HAS THE AUTHORITY TO ESTABLISH COMPENSATION FOR ALL OTHER STAFF AND THE COMPENSATION IS BASED ON JOB DESCRIPTIONS AND PERFORMANCE REVIEWS. COMPENSATION LEVELS ARE SET BY THE PRESIDENT AND APPROVED BY THE BOARD AS PART OF THE ANNUAL BUDGET. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN FROM DECREASE IN PRESENT VALUE DISCOUNT OF LOANS RECEIVABLE 1,473,866. ADJUSTMENT FOR PRIOR YEAR SCHEDULE I GRANT REPORTING 1,008,000.