2022-05-23T11:26:09-05:00 2021-06-30 231709427 BERTZ HESS & CO LLP 36 EAST KING ST LANCASTER PA 17602 990 2020-07-01 232689714 COMMUNITY FIRST FUND COMM 7173932351 PO BOX 524 LANCASTER PA 176080524 ANTHONY PAPPION SR VP, CFO 7173932351 2022-05-12 true ANTHONY PAPPION XXX-XX-XXXX THOMAS A WOBBER CPA P01276864 7173930767 2022-05-12 2020 2022-09-23 18:48:47Z EXTENSION GRANTED TO MAY 16 2022 DANIEL BETANCOURT 51 SOUTH DUKE STREET STE 400 LANCASTER PA 17602 44963943 false X WWW.COMMUNITYFIRSTFUND.ORG X 1992 PA TO PROVIDE LOANS AND TECHNICAL ASSISTANCE TO HOUSING & ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE BENEFIT FOR LOW INCOME PERSONS AND CONTRIBUTE TO SOCIAL PROGRESS AND ECONOMIC DEVELOPMENT. 9 9 40 15 0 7594836 38314424 4966010 6649519 0 0 12560846 44963943 602589 18992885 0 3734804 5480228 0 502248 6435964 10301802 10773357 34774915 1787489 10189028 80851659 129035730 62575507 80678124 18276152 48357606 X TO PROMOTE COMMUNITY AND WORK-BASED ECONOMIC DEVELOPMENT. THE ORGANIZATION PROVIDES LOANS FOR COMMUNITY PROJECTS AND TECHNICAL ASSISTANCE TO HOUSING & ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE BENEFIT TO LOW INCOME PERSONS AND CONTRIBUTE TO SOCIAL PROGRESS AND ECONOMIC DEVELOPMENT IN THE SOUTH CENTRAL PENNSYLVANIA REGION. ON JULY 1, 2020, THE ORGANIZATION MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND FOUNDED IN 1996. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED THE ORGANIZATION AS ITS SOLE MEMBER. BY VIRTUE OF THE ORGANIZATION BEING THE SOLE MEMBER OF FINANTA, FINANTA IS CONSIDERED A SUBSIDIARY OF THE ORGANIZATION. THE CONSOLIDATION OF THE TWO ORGANIZATIONS ADDED 19,959,381. false false 33375133 18992885 5863616 COMMUNITY FIRST FUND PROMOTES COMMUNITY AND ECENOMIC DEVELOPMENT BY PROVIDING AFFORDABLE LOANS TO ENTITIES THROUGHOUT CENTRAL AND EASTERN PENNSYLVANIA, INCLUDING SMALL BUSINESSES, DEVELOPERS OF AFFORDABLE HOUSING, COMMUNITY-BASED ORGANIZATIONS, WOMEN, PEOPLE OF COLOR. ON JULY 1, 2020, COMMUNITY FIRST FUND MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED COMMUNITY FIRST FUND AS ITS SOLE MEMBER. DURING THE YEAR ENDING JUNE 30, 2021, THE ORGANIZATION CLOSED 389 NEW LOANS. THE ORGANIZATION FINANCED 304 HOUSING UNITS FOR LOW AND MODERATE INCOME INDIVIDUALS. THROUGH THE ORGANIZATIONS FINANCING EFFORTS, 1,835 JOBS WERE CREATED OR RETAINED, AND 255,895 SQUARE FEET OF BUSINESS REAL ESTATE WAS DEVELOPED OR REHABBED. IN MARCH 2020 IN RESPONSE TO THE COVID-19 PANDEMIC, THE ORGANIZATION SHIFTED ITS FOCUS TO PARTICIPATION IN AND PROMOTION OF VARIOUS GRANT AND LOAN PROGRAMS TO BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES AND OWNED BY PEOPLE OF COLOR. BY JUNE 30, 2020, THE ORGANIZATION HAD DIRECTLY PROVIDED EMERGENCY FINANCIAL RELIEF IN THE FORM OF LOW-INTEREST LOANS TO 24 BUSINESSES AND HAD MANAGED THE PROGRAM TO FUND 461 SBA PAYCHECK PROTECTION PROGRAM LOANS TOTALING 15,784,735 THROUGH ITS SUBSIDIARY COMMUNITY FIRST CAPITAL CORP. 90000 785903 NEW MARKETS TAX CREDIT PROGRAM TO DATE THE ORGANIZATION WAS GRANTED 90 MILLION OF NEW MARKETS TAX CREDIT ALLOCATION FROM THE US TREASURY. THE ORGANIZATION HAS ENTERED INTO AGREEMENTS WITH INVESTOR MEMBERS TO FUND 14 NEW MARKETS TAX CREDIT PROJECTS THROUGHOUT CENTRAL AND EASTERN PA. TWELVE PROJECTS ARE REMAINING AT 6/30/2021. 33465133 true true false false false false false false false false true false false false true true false true false false false false false false false false false true true true false false false false false false false false false false false false true true true true false false true 380 0 40 true false false false false false false false false false false false false X 9 9 false false false false false false false true true false true true true true true true true true true true false PA X X THE ORGANIZATION 7173932351 51 SOUTH DUKE STREET STE 400 LANCASTER PA 17602 DANIEL BETANCOURT PRESIDENT & 40.00 X 275612 0 78679 JOAN BRODHEAD SENIOR EVP, 40.00 X 208928 0 19652 JAMES BUERGER EVP CHIEF LE 40.00 X 163163 0 25646 ANTHONY PAPPION SR VP, CFO 40.00 X 110197 0 24820 DANIEL BECK VP SR LENDER 40.00 X 106830 0 21567 MICHAEL CARPER CHIEF CREDIT 40.00 X 123735 0 0 LLOYD SHIELDS FINANCIAL CO 40.00 X 110122 0 0 NATHAN MCCANN VP COMM LEND 40.00 X 106641 0 2542 JONATHAN BOWSER CHAIRMAN 2.00 X X 0 0 0 NATALIA DOMINGUEZ BUCKLEY BOARD MEMBER 1.00 X 0 0 0 MARILYN BROWN SECRETARY 2.00 X X 0 0 0 JONATHAN ENCARNACION BOARD MEMBER 1.00 X 0 0 0 DR GREGORY EDWARDS BOARD MEMBER 1.00 X 0 0 0 DANA HANCHIN BOARD MEMBER 1.00 X 0 0 0 SAMUEL T COOPER III BOARD MEMBER 1.00 X 0 0 0 CARLOS LOPEZ BOARD MEMBER 1.00 X 0 0 0 R ERIC MENZER BOARD MEMBER 1.00 X 0 0 0 LAWRENCE MCCOMMIE BOARD MEMBER 1.00 X 0 0 0 ANTONIO PELOSI BOARD MEMBER 1.00 X 0 0 0 LENIN PAGUDO BOARD MEMBER 1.00 X 0 0 0 CHARLIE SANTIAGO TREASURER 2.00 X X 0 0 0 DAVID A SCHANKWEILER BOARD MEMBER 2.00 X 0 0 0 VINCE TSENG BOARD MEMBER 1.00 X 0 0 0 1205228 172906 8 false true false COHNREZNICK LLP 500 EAST PRATT ST 4TH FL BALTIMORE MD 21202 NMTC TAX/AUDIT 144155 APPEL YOST ZEE LLP 33 N DUKE ST LANCASTER PA 17602 LEGAL 131217 MICHAEL CARPER 6266 MEADOWFIELD DR MOUNT JOY PA 17552 CCO 123735 LLOYD SHIELDS 1140 OSTRANDER AVE LA GRANGE PARK IL 60526 CFO 110122 4 17923369 20391055 38314424 INTEREST INCOME 522220 4372542 4372542 OTHER 522220 1308969 1308969 NEW MARKET TAX CREDIT 522220 785903 785903 LOAN AND SERVICE FEES 522220 182105 182105 6649519 44963943 6649519 7532875 7532875 11460010 11460010 4475007 3924605 241191 309211 773894 678709 41711 53474 231327 202875 12468 15984 75887 53030 22857 74415 52001 22414 455038 317980 137058 108153 54076 21631 32446 268396 234433 14835 19128 396859 348048 21389 27422 43556 38198 2348 3010 21529 10764 4306 6459 1455952 1269478 186474 203945 178861 10992 14092 71497 62703 3854 4940 LOAN LOSS PROVISION 4956187 4956187 LOAN FORGIVENESS 1825601 1825601 MISCELLANEOUS 177674 155563 9689 12422 BANK FEES 61685 10224 51461 105428 98912 2856 3660 34774915 33465133 807534 502248 13560326 16232424 6273857 36674804 1200625 1106972 11772 89733 55206164 67315849 61844 107357 7527297 1027031 4226427 6500266 852325 310644 156000 80851659 129035730 1052062 2607290 6963524 4692650 5013624 3450000 35735295 48448186 17645500 17645500 62575507 80678124 X 17993006 40944633 283146 7412973 18276152 48357606 80851659 129035730 X 10189028 19892426 X false true X true false X 2309147 2392938 4043044 7594836 38314424 54654389 2309147 2392938 4043044 7594836 38314424 54654389 5806497 48847892 54654389 24304357 0.89380 0.76720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 353417 353417 5865753 492019 5373734 919103 336562 582541 389024 198450 190574 6500266 EQUITY EQUIVALENT INVESTMENTS 17645500 17645500 X SCHEDULE D, PAGE 3, PART X THE ORGANIZATION HAS EVALUATED THE TAX FILINGS FOR THE OPEN YEARS FOR UNCERTAIN TAX POSITIONS. THE TAX YEARS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE ARE 2017, 2018, 2019, AND 2020. THE TAX YEARS SUBJECT TO EXAMINATION BY THE STATE JURISDICTION ARE UNLIMITED. true ASSETS LANCASTER 24 S QUEEN ST LANCASTER PA 17603 232827808 501C3 143200 LANC RECOVERY FD IMPACT LOAN FUND 1952 E ALLEGHENY AVE PHILADELPHIA PA 19134 233032463 501C3 180000 ECONOMIC DEVELOPMENT COMMUNITY FIRST FUND FEDERAL CR UN 51 S DUKE ST LANCASTER PA 17602 871525468 501C14 7113524 CR UNION CAPITAL PA CDFI NETWORK 400 MARKET ST STE 210 PHILADELPHIA PA 19106 232920364 501C3 73651 ECONOMIC DEVELOPMENT YORK COUNTY ADMIN CENTER 28 E MARKET ST YORK PA 17401 236003050 GOV 22500 ECONOMIC DEVELOPMENT 5 474 SMALL BUISINESS GRANTS 474 11460010 SCHEDULE I, PAGE 1, PART I, LINE 2 COMMUNITY FIRST FUND STRIVES TO MAINTAIN COMPREHENSIVE DOCUMENTATION IN REGARDS TO AWARDED GRANTS. THE FOLLOWING FORMS ARE FILED IN BOTH PAPER AND ELECTRONIC FORMAT: THE ORIGINAL GRANT CONTRACT, THE WINNING GRANT PROPOSAL, INVOICES FROM THE GRANTEE AS WELL AS PAYMENT CONFIRMATION, REQUIRED INTERNAL COMPLIANCE REPORTING FROM THE GRANTEE, AND EMAIL CORRESPONDENCE RELATING TO THE PARTICULAR GRANT. THE GRANTEE'S ELIGIBILITY AND SELECTION CRITERIA ARE MADE ON A CASE-BY-CASE BASIS, WITH GRANT-SPECIFIC ELIGIBILITY FOUND IN THE GRANT CONTRACT. IN RESPECT TO FUND MONITORING, COMMUNITY FIRST FUND DECIDES BEST PRACTICE DEPENDING ON THE PURPOSE AND TIMELINE OF THE GRANT. LOOKING AT THE SACA CAPACITY DEVELOPMENT GRANT, THE FUNDING PURPOSE WAS INCOME SUPPLEMENTATION FOR NEW MANAGEMENT OF THE GROWING ORGANIZATION. THE GRANTEE PROVIDED INVOICES WHEN REQUESTING A DRAW OF FUNDS, AND PROVIDED PERIODIC PAYROLL JOURNALS OF THE NEW POSITION TO SHOW PROPER UTILIZATION OF THE GRANT. AS COMMUNITY FIRST BUILDS CAPACITY TO AWARD MORE THAN EXTERNALLY-PROPOSED GRANTS, OVERARCHING PROCEDURE WILL BE IMPLEMENTED BEYOND A CASE-BY-CASE BASIS. X false false false false false false false false false DANIEL BETANCOURT PRESIDENT & CEO 275612 67974 10705 354291 JOAN BRODHEAD SENIOR EVP, 208928 2251 17401 228580 JAMES BUERGER EVP CHIEF LENDING 163163 8244 17402 188809 FORM 990 - ORGANIZATION'S MISSION TO PROMOTE COMMUNITY AND WORK-BASED ECONOMIC DEVELOPMENT. THE ORGANIZATION PROVIDES LOANS FOR COMMUNITY PROJECTS AND TECHNICAL ASSISTANCE TO HOUSING & ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE BENEFIT TO LOW INCOME PERSONS AND CONTRIBUTE TO SOCIAL PROGRESS AND ECONOMIC DEVELOPMENT IN THE SOUTH CENTRAL PENNSYLVANIA REGION. ON JULY 1, 2020, THE ORGANIZATION MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND FOUNDED IN 1996. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED THE ORGANIZATION AS ITS SOLE MEMBER. BY VIRTUE OF THE ORGANIZATION BEING THE SOLE MEMBER OF FINANTA, FINANTA IS CONSIDERED A SUBSIDIARY OF THE ORGANIZATION. THE CONSOLIDATION OF THE TWO ORGANIZATIONS ADDED 19,959,381. FORM 990, PAGE 2, PART III, LINE 4A COMMUNITY FIRST FUND PROMOTES COMMUNITY AND ECENOMIC DEVELOPMENT BY PROVIDING AFFORDABLE LOANS TO ENTITIES THROUGHOUT CENTRAL AND EASTERN PENNSYLVANIA, INCLUDING SMALL BUSINESSES, DEVELOPERS OF AFFORDABLE HOUSING, COMMUNITY-BASED ORGANIZATIONS, WOMEN, PEOPLE OF COLOR. ON JULY 1, 2020, COMMUNITY FIRST FUND MERGED WITH FINANTA, A PHILADELPHIA BASED NONPROFIT CDFI LOAN FUND. FINANTA CONVERTED TO A MEMBER OWNED NONPROFIT CORPORATION AND APPOINTED COMMUNITY FIRST FUND AS ITS SOLE MEMBER. DURING THE YEAR ENDING JUNE 30, 2021, THE ORGANIZATION CLOSED 389 NEW LOANS. THE ORGANIZATION FINANCED 304 HOUSING UNITS FOR LOW AND MODERATE INCOME INDIVIDUALS. THROUGH THE ORGANIZATIONS FINANCING EFFORTS, 1,835 JOBS WERE CREATED OR RETAINED, AND 255,895 SQUARE FEET OF BUSINESS REAL ESTATE WAS DEVELOPED OR REHABBED. IN MARCH 2020 IN RESPONSE TO THE COVID-19 PANDEMIC, THE ORGANIZATION SHIFTED ITS FOCUS TO PARTICIPATION IN AND PROMOTION OF VARIOUS GRANT AND LOAN PROGRAMS TO BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES AND OWNED BY PEOPLE OF COLOR. BY JUNE 30, 2020, THE ORGANIZATION HAD DIRECTLY PROVIDED EMERGENCY FINANCIAL RELIEF IN THE FORM OF LOW-INTEREST LOANS TO 24 BUSINESSES AND HAD MANAGED THE PROGRAM TO FUND 461 SBA PAYCHECK PROTECTION PROGRAM LOANS TOTALING 15,784,735 THROUGH ITS SUBSIDIARY COMMUNITY FIRST CAPITAL CORP. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE POLICY IS MONITORED AND ENFORCED THROUGH THE ANNUAL CONFLICT OF INTEREST DISCLOSURE PROCESS. FORM 990, PAGE 6, PART VI, LINE 15A CEO COMPENSATION IS REVIEWED DURING THE BUDGET PROCESS AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS REVIEWED DURING THE BUDGET PROCESS AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST AT THE ORGANIZATION'S HEADQUARTERS. FORM 990, PART XI, LINE 9 MERGER ACQUISITION - FINANTA 19,959,381 TRANSFER TO SUBSIDIARY -66,955 TOTAL 19,892,426 FINANTA 51 SOUTH DUKE STREET LANCASTER PA 17602 232857766 LOANS PA 1598456 28880089 COMMUNITY FIRST FUND COMMUNITY FIRST CAPITAL CORP 51 SOUTH DUKE STREET LANCASTER PA 17602 200185800 SBA LOANS PA 501C3 12A COMMUNITY FIRST FUND false CFF SUB CDE 1 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 462893194 NMTC PA CFF SUB CDE 1 LLC RELATED 1 327 false true 0.00010 CFF SUB CDE 2 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 462902484 NMTC PA CFF SUB CDE 2 LLC RELATED 26 false true CFF SUB CDE 3 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 462911541 NMTC PA CFF SUB CDE 3 LLC RELATED 11 650 false true 0.00010 CFF SUB CDE 4 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 611714370 NMTC PA CFF SUB CDE 4 LLC RELATED 11 392 false true 0.00010 CFF SUB CDE 5 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 300786348 NMTC PA CFF SUB CDE 5 LLC RELATED 16 667 false true 0.00010 CFF SUB CDE 6 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 320412236 NMTC PA CFF SUB CDE 6 LLC RELATED 2 588 false true 0.00010 CFF SUB CDE 7 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474466777 NMTC PA CFF SUB CDE 7 LLC RELATED 23 856 false true 0.00010 CFF SUB CDE 8 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474475887 NMTC PA CFF SUB CDE 8 LLC RELATED 9 442 false true 0.00010 CFF SUB CDE 9 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474887880 NMTC PA CFF SUB CDE 9 LLC RELATED 14 690 false true 0.00010 CFF SUB CDE 10 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474498301 NMTC PA CFF SUB CDE 10 LLC RELATED 34 814 false true 0.00010 CFF SUB CDE 12 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 474523681 NMTC PA CFF SUB CDE 12 LLC RELATED 18 543 false true 0.00010 CFF SUB CDE 13 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 814087839 NMTC PA CFF SUB CDE 13 LLC RELATED 18 543 false true 0.00010 CFF SUB CDE 14 LLC 51 SOUTH DUKE STREET LANCASTER PA 17602 814102957 NMTC PA CFF SUB CDE 14 LLC RELATED 3 991 false true 0.00010 CFF SUB CDE 11 LLC 51 SOUTH DUKE STREET SUITE 400 LANCASTER PA 17602 474511175 NMTC PA CFF SUB C CORP 15 802 0.00010 false true true false true false false false false false false false true false true true false false false false COMMUNITY FIRST CAPITAL CORP B 66955 TRANSFER OF CAPITAL COMMUNITY FIRST CAPITAL CORP D 4227573 INCR NOTE RECEIVABLE COMMUNITY FIRST CAPITAL CORP D 13033833 AMT DUE ON NOTE-YR END COMMUNITY FIRST CAPITAL CORP L 470452 FMV-MGMT FEE COMMUNITY FIRST CAPITAL CORP N COMMUNITY FIRST CAPITAL CORP O COMMUNITY FIRST CAPITAL CORP R 188157 FMV-INTEREST INCOME