2023-10-18T15:12:46-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-01-01 522063496 CHARTER SCHOOLS DEVELOPMENT CORPORATION CHAR 4435611280 7880 MILESTONE PARKWAY 425 HANOVER MD 21076 MICHELLE PROSPERI CHIEF OPERATING OFFICER 4435611280 2023-10-16 1 MICHELLE PROSPERI 999009999 0 ROBERT WILLIAMS P01345960 5712279500 2023-09-28 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHELLE PROSPERI 7880 MILESTONE PARKWAY 425 HANOVER MD 21076 12739939 0 X WWW.CSDC.ORG X 1997 DC FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS. 8 1 15 0 0 0 20197434 7628008 5135418 4971703 197701 -48372 0 0 25530553 12551339 526552 116147 0 0 2982102 2759448 0 0 0 5348073 5024003 8856727 7899598 16673826 4651741 137072204 136626734 66971616 61874405 70100588 74752329 CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS. 0 0 5652790 116147 4971703 PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS. 5652790 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 19 0 15 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 0 MD X MICHELLE PROSPERI 4435611280 7880 MILESTONE PARKWAY 425 HANOVER MD 21076 MICHAEL CURRAN CHAIR-INCOMING 2.00 4.00 X X 28000 0 0 TOM NIDA CHAIR-OUTGOING 2.00 4.00 X X 11000 0 0 EMBER REICHGOTT JUNGE VICE CHAIR 2.00 4.00 X X 10000 0 0 JIM GOENNER DIRECTOR & TREASURER 2.00 4.00 X X 17000 0 0 LANETTE DAILEY-REESE DIRECTOR & SECRETARY 2.00 2.00 X X 17000 0 0 JAY HROMATKA DIRECTOR 2.00 4.00 X 12500 0 0 LEO VALDEZ DIRECTOR 2.00 2.00 X 13500 0 0 CHRISTINA RYAN DIGIULIAN DIRECTOR 2.00 2.00 X 18500 0 0 ALVIN DUBIN PRESIDENT/CEO (OUTGOING) 40.00 2.00 X 345308 0 20590 LAURA FIEMANN CHIEF DEVELOPMENT OFFICER 40.00 2.00 X 315017 0 42311 ANNETTE HIGH VP OF ACCOUNTING 40.00 2.00 X 190082 0 48266 MICHELLE PROSPERI CHIEF OPERATING OFFICER 40.00 2.00 X 337908 0 56087 REBECCA SECREST SENIOR VICE PRESIDENT 40.00 2.00 X 219350 0 27251 MARK ZEIZEL VICE PRESIDENT 40.00 2.00 X 205587 0 45458 ALAN WASHINGTON PRESIDENT/CEO (INCOMING) 40.00 2.00 X 128083 0 13282 SHANTA BACON SENIOR PROJECT ACCOUNTANT 40.00 0.00 X 106084 0 35735 1974919 0 288980 8 0 1 0 TENSQUARE 1101 17TH STREET NW 200 WASHINGTON DC 20036 CONSULTING 127926 NORTH SHORE CONSTRUCTION & DEVELOPMENT S 430 READING ROAD SUITE 400 CINCINNATI OH 45202 CONSTRUCTION 109337 2 7102008 526000 7628008 INTEREST INCOME - CDFI 900099 2485303 2485303 RENTAL INCOME 900099 2036244 2036244 DEVELOPER'S FEES 900099 315351 315351 LOAN ORIGINATION FEE INCOME 900099 98727 98727 CREDIT ENHANCEMENT FEES 900099 36078 36078 4971703 112952 112952 27276 188600 -161324 -161324 -161324 12551339 4971703 0 -48372 116147 116147 2122079 1259760 862319 313511 119627 193884 41812 23030 18782 148039 92448 55591 134007 80404 53603 225544 146604 78940 77417 50321 27096 102957 66923 36034 35911 17956 17955 65385 16726 48659 73013 25555 47458 1180520 470681 709839 204557 143922 60635 2557047 2557047 244981 242531 2450 77132 57849 19283 LOAN LOSSES 144000 144000 REPRESENTATION FEES 17547 14038 3509 DUES AND SUBSCRIPTIONS 10715 10715 LOANS AND FEES 7221 7221 56 56 7899598 5652790 2246808 0 58415225 67892069 17739346 9349260 242817 458100 50823908 49424774 24381 37791 8581413 2691170 6271974 5890243 0 9919 3554553 3564578 137072204 136626734 976581 496777 311274 183011 62720075 58247517 2827803 2057986 135883 889114 66971616 61874405 X 10292179 14693388 59808409 60058941 70100588 74752329 137072204 136626734 4651741 0 X 0 1 X 1 1 1 X 6775816 14454841 3295000 20197434 7628008 52351099 4453488 5130493 4757163 5135418 4971703 24448265 11229304 19585334 8052163 25332852 12599711 76799364 1469816 1602341 870000 1552854 5900000 11395011 2118139 1662534 2396468 353927 1028194 7559262 3587955 3264875 3266468 1906781 6928194 18954273 57845091 172624 415453 401837 197701 112952 1300567 172624 415453 401837 197701 112952 1300567 11401928 20000787 8454000 25530553 12712663 78099931 0.74070 0.87630 0.01670 0.01820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 907000 907000 7440899 2479588 4961311 233514 211582 21932 5890243 SECURITY DEPOSITS HELD 158207 OPERATING LEASE RIGHT OF USE LIABILITY 730907 889114 X PART X, LINE 2: THE CORPORATION HAS DETERMINED THAT IT DOES NOT CURRENTLY HAVE ANY TAX POSITIONS THAT IT CONSIDERS TO BE UNCERTAIN. IF THIS POSITION CHANGES, THE CORPORATION WILL ASSESS THE IMPACT OF ANY SUCH MATTERS ON ITS FINANCIAL POSITION AND RESULTS OF OPERATIONS. 1 BUFFALO ACADEMY OF SCIENCE CS 190 FRANKLIN ST BUFFALO NY 14202 200723492 501(C)(3) 15000 0 N/A N/A TOM NIDA AWARD JEFFERSON RISE CHARTER SCHOOL 3645 LAPALCO BLVD HARVEY LA 70058 465447666 501(C)(3) 6000 0 N/A N/A TOM NIDA AWARD & SAFETY GRANT SAN ANTONIO PREPARATORY CHARTER SCHOOL 6127 SUMMER FEST D SAN ANTONIO TX 78244 832414881 501(C)(3) 8000 0 N/A N/A SAFETY GRANT 3 0 PART I, LINE 2: CHARTER SCHOOL DEVELOPMENT CORPORATION MADE SMALL GRANTS AVAILABLE TO OUR CLIENT SCHOOLS TO IMPROVE THE SAFETY AND SECURITY OF THEIR SCHOOL BUILDINGS. INTERESTED SCHOOLS SUBMITTED A SHORT APPLICATION STATING WHAT PROPOSED SECURITY IMPROVEMENT OR UPGRADE WOULD BE FUNDED WITH THE GRANT, AND IN MOST CASES, ALSO PROVIDED A QUOTE OR SCOPE IF AVAILABLE. GIVEN THE SMALL SIZE OF THE GRANTS, CSDC MADE THESE AWARDS BASED ON THE INITIAL APPLICATION AND SCOPE, AND DID NOT REQUIRE ANY FOLLOW UP DOCUMENTATION AS TO HOW THE FUNDS WERE ACTUALLY SPENT. WE CONSIDERED THESE UNRESTRICTED GRANTS TO OUR SCHOOL CLIENTS TO UTILIZE HOW THEY SAW FIT FOR THEIR SECURITY NEEDS. X X 0 0 0 0 0 0 0 0 0 MICHELLE PROSPERI CHIEF OPERATING OFFICER 247250 0 90658 0 0 0 20500 0 35587 0 393995 0 0 0 ALVIN DUBIN PRESIDENT/CEO (OUTGOING) 55833 0 279167 0 10308 0 20500 0 90 0 365898 0 0 0 LAURA FIEMANN CHIEF DEVELOPMENT OFFICER 230500 0 84517 0 0 0 12485 0 29826 0 357328 0 0 0 MARK ZEIZEL VICE PRESIDENT 151725 0 53862 0 0 0 20500 0 24958 0 251045 0 0 0 REBECCA SECREST SENIOR VICE PRESIDENT 160500 0 58850 0 0 0 15649 0 11602 0 246601 0 0 0 ANNETTE HIGH VP OF ACCOUNTING 141500 0 48582 0 0 0 17999 0 30267 0 238348 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, TO THE EXTENT PROVIDED IN THE RESOLUTION CREATING IT, ALL OF THE RIGHTS, POWERS AND AUTHORITY OF THE BOARD OF DIRECTORS. THE BOARD COMMITTEE SHALL NOT BE PERMITTED TO: AUTHORIZE DISTRIBUTIONS; FILL VACANCIES ON THE BOARD OF DIRECTORS OR ON ANY BOARD COMMITTEE; OR ADOPT, AMEND OR REPEAL BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO AND THE EXECUTIVE VICE PRESIDENT BOTH REVIEW AND APPROVE THE FORM 990 BEFORE IT IS FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY FOR STAFF, OFFICERS AND BOARD OF DIRECTORS ARE SET FORTH IN ITS BYLAWS AND EMPLOYEE HANDBOOK. STAFF, OFFICERS AND BOARD OF DIRECTORS ARE REQUIRED TO REPORT ANY CONFLICT OF INTEREST. THE EXECUTIVE VICE PRESIDENT MAINTAINS A FILE OF ALL SUCH WRITTEN REPORTS. NO DIRECTOR OR OFFICER SHALL PARTICIPATE IN OR BE PRESENT AT ANY VOTE OF THE BOARD OR ANY COMMITTEE ON ANY QUESTION, ISSUE, DECISION OR TRANSACTION IN WHICH THE DIRECTOR, OR ANY BUSINESS ASSOCIATE OR FAMILY MEMBER OF SUCH DIRECTOR OR OFFICER, HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST. A DIRECTOR OR OFFICER, AFTER FULLY DISCLOSING TO THE BOARD OR THE COMMITTEE ALL FACTS MATERIAL TO HIS OR HER INTERESTS AND UPON UNANIMOUS CONSENT OF THE BOARD OR COMMITTEE, MAY PARTICIPATE IN ANY DISCUSSION OR DELIBERATION OF ANY QUESTION, ISSUE, DECISION OR TRANSACTION IN WHICH THE DIRECTOR OR OFFICER, OR ANY BUSINESS ASSOCIATE OR FAMILY MEMBER OF SUCH DIRECTOR OR OFFICER, HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE PRESIDENT AND CEO, OTHER MANAGEMENT PERSONNEL AND KEY EMPLOYEES INCLUDES AN ANALYSIS OF COMPARABLE DATA FOR SIMILAR SIZED NON-PROFIT ORGANIZATIONS WORKING IN THE SAME GENERAL FIELD OBTAINED VIA A SALARY SURVEY OF WASHINGTON, D.C. BASED NONPROFITS AND A PUBLIC RECORDS SEARCH OF FORM 990S. COMPENSATION OF EXECUTIVE STAFF IS DETERMINED BASED ON THIS COMPARABLE DATA, PREVIOUS LEVEL OF APPLICABLE WORK EXPERIENCE AND ANNUAL PERFORMANCE REVIEWS. ONLY THE PRESIDENT AND CEO'S COMPENSATION IS SUBJECT TO BOARD APPROVAL. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 AT ITS OFFICES, THE ORGANIZATION KEEPS COPIES OF ITS GOVERNING DOCUMENTS AND FORMS 990 AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. CROSSROADS MASTER TENANT LLC 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 300958764 REAL ESTATE AND LOAN FINANCING DE 859627 6977668 CHARTER SCHOOLS DEVELOPMENT CORPORATION MCCURDY MASTER TENANT LLC 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 384006935 REAL ESTATE AND LOAN FINANCING DE 910335 5930010 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC FACILITIES CORPORATION 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 300142162 FINANCING, DEVELOPMENT AND MANAGEMENT OF CHARTER SCHOOL FACILITIES DC 501(C)(3) LINE 12B, II CHARTER SCHOOLS DEVELOPMENT CORPORATION 1 CSDC PROPERTY CORPORATION 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 272503955 FOSTER THE COMMON GOOD AND GENERAL WELFARE OF THE AMERICAN PUBLIC AZ 501(C)(4) CHARTER SCHOOLS DEVELOPMENT CORPORATION 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CSDC PROPERTY CORP C 5900000 CASH CSDC FACILITIES CORP C 1202008 CASH