2022-11-07T08:05:42-06:00 2022-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2021-07-01 222524015 NEW HAMPSHIRE COMMUNITY LOAN FUND INC NEWH 6032246669 7 WALL STREET CONCORD NH 03301 STEVE SALTZMAN PRESIDENT AND CEO 6032246669 2022-11-02 1 STEVE SALTZMAN XXX-XX-XXXX MATTHEW MCGINNIS CPA P01585083 5083669100 2022-11-02 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z STEVE SALTZMAN 7 WALL STREET CONCORD NH 03301 15842700 0 X WWW.COMMUNITYLOANFUND.ORG X 1983 NH TRADITIONALLY UNDERSERVED PEOPLE TO ATTAIN AFFORDABLE HOMES, QUALITY JOBS AND CHILD CARE, AND BECOME FINANCIALLY INDEPENDENT. WE DO THIS BY PROVIDING LOANS, CAPITAL AND TECHNICAL ASSISTANCE;COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS AND PUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TO SOLVE PROBLEMS.ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRSTCOMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION AND ISRECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT,FINANCIAL STRENGTH AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE 2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHEST HONOR IN OUR FIELD. 17 16 61 16 0 0 2857705 4915040 10452611 10472885 200388 189911 366494 264864 13877198 15842700 28314 56632 0 0 4460529 4946939 0 0 408279 6437918 5926610 10926761 10930181 2950437 4912519 176989258 178821408 143331062 140279050 33658196 38542358 X TO SERVE AS A CATALYST, LEVERAGING FINANCIAL, HUMAN AND CIVIC RESOURCES TO ENABLE TRADITIONALLY UNDERSERVED PEOPLE TO ATTAIN AFFORDABLE HOMES, QUALITY JOBS AND CHILD CARE, AND BECOME FINANCIALLY INDEPENDENT. WE DO THIS BY PROVIDING LOANS, CAPITAL AND TECHNICAL ASSISTANCE; COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS AND PUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TO SOLVE PROBLEMS.ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRST COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION AND IS RECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT, FINANCIAL STRENGTH AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE 2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHEST HONOR IN OUR FIELD. 0 0 3564335 56632 9695691 AFFORDABLE HOUSING - SEE SCHEDULE O 5015962 CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O 923862 635819 BUSINESS FINANCE - SEE SCHEDULE O 247012 406239 SINCE 1984, OUR COMMUNITY SERVICES FINANCING HAS SUPPORTED ESSENTIAL SERVICES, INCLUDING CENTER- AND HOME-BASED CHILD DEVELOPMENT SERVICES, BY HELPING NONPROFIT ORGANIZATIONS BUY, RENOVATE, OR BUILD FACILITIES. THE COMMUNITY LOAN FUND HAS MADE 132 COMMUNITY SERVICES LOANS TOTALING OVER $36 MILLION. IN FY2022, THE COMMUNITY LOAN FUND MADE TWO COMMUNITY SERVICES LOANS TOTALING OVER $135,000. 247012 406239 9751171 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 1 0 0 0 0 0 0 0 0 1 533 0 1 61 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X BONNIE SCADOVA 6032246669 7 WALL STREET CONCORD NH 03301 KATHLEEN REARDON VICE CHAIR 1.00 X X 0 0 0 BETSY MCNAMARA CHAIR 1.00 X X 0 0 0 DON BRUEGGEMANN TREASURER 1.00 X X 0 0 0 KIM CAPEN VICE TREASURER 1.00 X X 0 0 0 KATE LUCZKO SECRETARY 1.00 X X 0 0 0 STEVE SALTZMAN PRESIDENT & CEO 40.00 X X 153587 0 13671 MICHAEL SWACK EMERITUS 1.00 X 0 0 0 JANET ACKERMAN MEMBER 1.00 X 0 0 0 ALI SEKOU MEMBER 1.00 X 0 0 0 ALLISON GRAPPONE MEMBER 1.00 X 0 0 0 JAMIE RICHARDSON MEMBER 1.00 X 0 0 0 PAULA ROGERS MEMBER 1.00 X 0 0 0 MARK FICKLE MEMBER 1.00 X 0 0 0 JOSEPH GERAKOS MEMBER 1.00 X 0 0 0 LIZ LAROSE MEMBER 1.00 X 0 0 0 SID PRABHAKAR MEMBER 1.00 X 0 0 0 SHALIMAR ENCARNACION MEMBER 1.00 X 0 0 0 NAOMI BUTTERFIELD MEMBER (UNTIL 12/2021) 1.00 X 0 0 0 PAM LAFLAMME MEMBER (UNTIL 12/2021) 1.00 X 0 0 0 BONNIE SCADOVA CHIEF FINANCIAL OFFICER 40.00 X 141792 0 16578 JENNIFER HOPKINS VICE PRESIDENT OF LENDING 40.00 X 106411 0 19956 DEBRA MILLER EXEC VP STRATEGIC PARTNERSHIPS & PHILANTHROPY 40.00 X 122523 0 29747 CYDNEY DODGE COO (UNTIL 4/2022) 40.00 X 122568 0 11776 TARA REARDON VP OF ROC-NH & EXTERNAL RELATIONS 40.00 X 114114 0 2130 JOHN HAMILTON FORMER PRESIDENT 40.00 X 126225 0 5321 887220 0 99179 7 1 1 0 ATX ADVISORY 118 ALFRED STREET BIDDEFORD ME 04005 IT ADVISORY SERVICES 146594 1 3326620 1588420 90448 4915040 INTEREST FROM LOANS 531390 9790006 9790006 LOAN RELATED FEES 531390 678867 678867 TRAINING AND OTHER FEES 531390 4012 4012 10472885 189911 189911 RECOVERY OF BAD DEBT 900099 163864 163864 PROGRAM RELATED DEV. INVEST. 900099 101000 101000 264864 15842700 10737749 0 189911 32632 32632 24000 24000 403106 221015 150516 31575 3618646 3210520 195199 212927 149835 131429 13294 5112 465937 407720 31590 26627 309415 265316 25926 18173 29501 24669 4221 611 75976 52713 20322 2941 58375 58375 438793 323992 75863 38938 19093 18343 750 556069 438142 65445 52482 59841 42409 15337 2095 114717 66917 45319 2481 38172 36165 1762 245 25422 24283 883 256 4061533 4061533 233794 158140 66484 9170 106058 60156 43972 1930 STAFF TRAINING 86034 69470 14598 1966 TECHNICAL ASSISTANCE 23232 23232 10930181 9751171 770731 408279 25781749 7053293 656424 917650 599499 623047 162604 144796 6343116 2453024 3809322 3890092 155167 12134117 145824493 154058413 176989258 178821408 3421685 2023926 424155 277053 130283431 125311702 9201791 12666369 143331062 140279050 X 24188037 30167699 9470159 8374659 33658196 38542358 176989258 178821408 X 4912519 -21033 -7324 X X 0 1 X 1 1 1 X 2947477 6228444 2630489 2857705 4915040 19579155 2947477 6228444 2630489 2857705 4915040 19579155 962561 18616594 179371 256565 325648 200388 189911 1151883 20731038 48475971 0.89800 0.89090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17475 40900 58375 10871806 10930181 696509 174127 0 0 688006 750424 696338 696509 2831277 4246916 953 1100 250 58375 60678 172002 187606 174085 174127 707820 1061730 250 150 17475 17875 0 0 321461 321461 4933072 1826850 3106222 1088583 626174 462409 3890092 LOANS RECEIVABLE 150135627 C ROC USA 3317343 F OTHER PROGRAM-RELATED EQUITY INVESTMENTS 605443 F 154058413 EQUITY EQUIVALENTS PAYABLE 12100000 NON-RECOURSE PARTICIPATION 566369 12666369 X 11696178 -21033 -4125489 -4146522 15842700 0 15842700 6812016 0 6812016 4118165 4118165 10930181 PART X, LINE 2: THE COMMUNITY LOAN FUND ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COMMUNITY LOAN FUND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS AT JUNE 30, 2022. THE COMMUNITY LOAN FUND'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANT EXPENSE -56,632. INTEREST EXPENSE -4,061,533. OTHER NET LOSSES -7,324. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS EXPENSE 56,632. INTEREST EXPENSE 4,061,533. 1 COLEBROOK HOMEOWNER'S COOPERATIVE INC 7 3RD STREET COLEBROOK NH 03576 461451456 9103 0 CONSULTING REGARDING DEMOLITION OF EXISTING MANUFACTURED HOMES WOODBURY COOPERATIVE INC 1338 WOODBURY AVE 108 PORTSMOUTH NH 03801 405028088 23529 0 SITE IMPROVEMENTS 2 IDA MATCHED SAVINGS GRANTS 6 24000 PART I, LINE 2: PROGRAM MANAGERS OVERSEE GRANT PROGRAMS AND MONITOR THE USE OF FUNDS BY GRANTEES THROUGH A VARIETY OF MEANS INCLUDING PERFORMANCE REPORTS, FINANCIAL REPORTS, INVOICES, PHOTOGRAPHY AND OTHER FORMS OF SUBSTANTIATING DOCUMENTATION. X X X X 1 0 0 0 0 0 0 0 0 STEVE SALTZMAN PRESIDENT & CEO 147603 0 5984 0 0 0 4647 0 9024 0 167258 0 0 0 BONNIE SCADOVA CHIEF FINANCIAL OFFICER 136792 0 5000 0 0 0 4412 0 12166 0 158370 0 0 0 DEBRA MILLER EXEC VP STRATEGIC PARTNERSHIPS & PHI 122523 0 0 0 0 0 3881 0 25866 0 152270 0 0 0 JOHN HAMILTON FORMER PRESIDENT 49398 0 0 0 76827 0 3777 0 1544 0 131546 0 0 0 PART I, LINE 4A IN FY'22 JOHN HAMILTON RECEIVED $76,827 OF SEVERANCE PAY. X 142 30603 FMV X NON-CASH GRANTS CONVERTED FROM LOANS PAYABLE BY DO 6 59845 FMV 0 1 0 FORM 990, PART III, LINE 4A: THREE COMMUNITY LOAN FUND PROGRAMS ADDRESS N.H.'S NEED FOR HOUSING FOR WORKING FAMILIES AND FOR FAMILIES WITH LOW INCOMES. 1. ROC-NH PROVIDES LOANS, ALONG WITH EDUCATIONAL AND TECHNICAL ASSISTANCE, TO BUILD LONG-TERM VALUE AND SECURITY FOR RESIDENTS OF N.H.'S MANUFACTURED-HOME COMMUNITIES BY HELPING THEM PURCHASE, MANAGE, AND IMPROVE THEIR COMMUNITIES AS COOPERATIVE CORPORATIONS. AS OF JUNE 30, 2022, 143 RESIDENT-OWNED COMMUNITIES IN N.H. WERE HOME TO 8,817 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2022, THE COMMUNITY LOAN FUND MADE 32 LOANS TOTALING OVER $24 MILLION. IN DOING SO, IT PRESERVED 374 HOUSING UNITS AND PROVIDED 20,565 HOURS OF TECHNICAL ASSISTANCE TO RESIDENT-OWNED COMMUNITIES. 2. BECAUSE THEY ARE RELATIVELY AFFORDABLE AND AVAILABLE IN RURAL COMMUNITIES, MANUFACTURED HOMES ARE, FOR SOME N.H. FAMILIES, THE HOUSING OPTION OF LAST RESORT. THEY ALSO PROVIDE AN AFFORDABLE OPTION FOR OLDER COUPLES WHO ARE DOWNSIZING AND YOUNG COUPLES BEGINNING FAMILIES. THE COMMUNITY LOAN FUND'S WELCOME HOME LOANS PROVIDE REAL FIXED-RATE MORTGAGE PRODUCTS FOR A GROUP OF HOMEOWNERS THAT DOESN'T OTHERWISE HAVE ACCESS TO SUCH LOANS. MOST BUYERS OF MANUFACTURED HOMES HAVE TO USE PERSONAL PROPERTY LOANS, EVEN WHEN THEY OWN THE LAND THE HOUSE WILL OCCUPY, OR WHEN THEY HAVE SECURED THE LAND THROUGH COOPERATIVE OWNERSHIP. IN MAKING 1,546 LOANS TOTALING MORE THAN $82 MILLION SINCE 2002, WELCOME HOME LOANS HAVE SHOWN THESE BORROWERS TO BE BETTER-THAN-AVERAGE RISKS, WITH A CUMULATIVE LOSS RATE OF JUST 3%. DURING FY2022, WELCOME HOME LOANS PROVIDED $7.792 MILLION IN FINANCING TO 90 BORROWERS. IN 2009, OUR WELCOME (THEN CALLED COOPERATIVE) HOME LOANS EARNED THE COMMUNITY LOAN FUND THE HIGHEST HONOR GIVEN TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS: THE NEXT AWARD FOR OPPORTUNITY FINANCE. THE PROGRAM'S STRONG PERFORMANCE HAS ALSO ATTRACTED OTHER CONVENTIONAL RESIDENTIAL LENDERS, INCLUDING USDA, NH HOUSING FINANCE AUTHORITY AND FANNIE MAE, TO THIS EMERGING MARKET. 3. THE MULTI-FAMILY HOUSING PROGRAM PROVIDES LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT HOUSING DEVELOPMENT ORGANIZATIONS, WITH THE GOALS OF EXPANDING N.H.'S SUPPLY OF INCREASINGLY SCARCE AFFORDABLE HOUSING AND KEEPING IT PERMANENTLY AFFORDABLE. SINCE 1989, THE COMMUNITY LOAN FUND HAS MADE 190 LOANS TOTALING NEARLY $36 MILLION, RESULTING IN THE CREATION OR PRESERVATION OF 1,978 AFFORDABLE APARTMENTS VALUED AT OVER $273 MILLION. IN FY 2022, THE COMMUNITY LOAN FUND MADE ONE COMMUNITY HOUSING LOAN TOTALING $1 MILLION. MULTI-FAMILY HOUSING HAS ALSO HELPED CREATE AND NURTURE A NOW-MATURE NETWORK OF NONPROFIT DEVELOPERS, WHILE ASSISTING COMMUNITY GROUPS TACKLING THEIR FIRST PROJECTS, TO CREATE CAPACITY IN ONE OF THE LEAST-AFFORDABLE STATES IN THE NATION. FORM 990, PART III, LINE 4B: THE COMMUNITY LOAN FUND IS ROOTED IN TWO BELIEFS: THE FIRST IS THAT SOME FINANCIAL OBSTACLES PEOPLE FACE ARE NOT DUE SOLELY TO LOW INCOMES, BUT ALSO TO LACK OF CREDIT. THE SECOND IS THAT MANY PEOPLE WITH CAPITAL WILL INVEST IN BASIC HUMAN NEEDS IF THERE IS A WAY TO DO SO. THE PHILANTHROPY PROGRAM WORKS ON THE SECOND PART OF THAT EQUATION. IT SEEKS TO MAKE ITS OPPORTUNITY NH INVESTMENTS A CONDUIT THROUGH WHICH PEOPLE, ORGANIZATIONS, FOUNDATIONS AND CORPORATIONS SAFELY AND SECURELY INVEST IN N.H.'S PEOPLE AND COMMUNITIES. THE COMMUNITY LOAN FUND IS A RARITY AMONG COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN ACCEPTING INVESTMENTS IN THE FORM OF UNSECURED LOANS FROM PRIVATE INDIVIDUALS, AS WELL AS FROM INSTITUTIONS LARGE AND SMALL. INVESTMENTS ARRIVE FROM RETIREES AND COMMUNITY CHURCH GROUPS, ALL THE WAY UP TO NATIONAL FOUNDATIONS. A ROBUST EQUITY POOL HELPS THE COMMUNITY LOAN FUND MAINTAIN A 100% REPAYMENT RECORD TO ITS INVESTORS. IT'S THE "SHOCK ABSORBER" THAT CUSHIONS THEIR MONEY AGAINST THE RARE LOAN THAT ISN'T REPAID. INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $7.5 MILLION. THE PHILANTHROPY PROGRAM BROUGHT IN $11.4 MILLION FROM 58 NEW INVESTMENTS IN FY2022, INCREASING THE NUMBER OF CURRENT INVESTORS TO 693. FORM 990, PART III, LINE 4C: THE COMMUNITY LOAN FUND OFFERS FINANCING FOR ESTABLISHED BUSINESSES RANGING FROM SELF-EMPLOYED TRADESMEN TO HIGH-GROWTH, HIGH-MARGIN COMPANIES. SINCE 1984, BUSINESS BUILDER LOANS HAVE PROVIDED LOANS AND BUSINESS EDUCATION TO SUPPORT THE GROWTH AND RESILIENCE OF SMALL BUSINESSES AND THEIR ABILITY TO PROVIDE QUALITY JOBS. SINCE 2002, VESTED FOR GROWTH INVESTMENTS HAVE PROVIDED INVESTMENTS AND BUSINESS EDUCATION TO HELP OWNERS GROW THEIR BUSINESSES BY ENGAGING THEIR PEOPLE AND ADDING VALUE FOR THEIR CUSTOMERS. VESTED FOR GROWTH'S RISK-TOLERANT CAPITAL AND PEER-LEARNING OPPORTUNITIES ALSO HELP OWNERS OF ESTABLISHED BUSINESSES INCREASE PROFITS AND CREATE HIGHER-QUALITY JOBS. SINCE 1996, OUR BUSINESS FINANCE TEAM HAS MADE 750 INVESTMENTS AND LOANS, TOTALING OVER $37.6 MILLION AND PRESERVING OR CREATING 2,527 JOBS. IN FY 2022, OUR BUSINESS FINANCE TEAM PROVIDED MORE THAN $1.5 MILLION IN FINANCING TO EIGHT BUSINESSES, CREATING OR PRESERVING 16 JOBS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY STAFF AND THE AUDIT FIRM. BEFORE FILING WITH THE IRS, A DRAFT OF THE COMPLETED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS AND IS REVIEWED IN DETAIL BY THE FINANCE COMMITTEE WITH QUESTIONS ADDRESSED AND RESOLVED BY THE AUDIT FIRM. THE FINANCE COMMITTEE VOTES TO ACCEPT THE FORM 990, AND MINUTES OF THE COMMITTEE MEETING ARE PRODUCED TO DOCUMENT THE REVIEW AND THE VOTE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES EMPLOYEES AND BOARD MEMBERS TO COMPLETE ANNUAL CONFLICT OF INTEREST SURVEYS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DATA REGARDING THE TWO TOP EXECUTIVE POSITIONS WAS GATHERED NATIONALLY, REGIONALLY AND LOCALLY. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWED THE COMPENSATION WITH ASSISTANCE FROM THE CHIEF OF STAFF. AFTER A REVIEW OF THE DATA AND DISCUSSION BY THE EXECUTIVE COMMITTEE, IT WAS DETERMINED THAT BOTH POSITIONS ARE IN A REASONABLE RANGE WITH THE DATA REVIEWED AND THAT THE COMPENSATION FOR THE TWO POSITIONS IS APPROPRIATE. COPIES OF COMPARABILITY DATA ANALYSIS ARE ON FILE, AND RECORDS OF THE EXECUTIVE COMMITTEE MEETING ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE COMMUNITY LOAN FUND'S FORM 990, YEAR-END AUDITED FINANCIAL STATEMENTS AND ANNUAL REPORTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE POSTED ON THE ORGANIZATION'S WEBSITE FOR PUBLIC INSPECTION. BYLAWS AND CONFLICT OF INTEREST POLICIES ARE ALSO AVAILABLE TO THE PUBLIC UPON REQUEST. THIS IS STATED ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: OTHER NET LOSSES -7,324. FORM 990, PART XII, LINE 2C: THE COMMUNITY LOAN FUND'S AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANTS. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 26 AND PART VI-A, LINE 1B: THE COMMUNITY LOAN FUND'S BYLAWS REQUIRE THE BOARD OF DIRECTORS TO INCLUDE REPRESENTATIVES OF BORROWER ORGANIZATIONS AND INVESTORS AMONG ITS MEMBERSHIP. DONATIONS AND INVESTMENTS ARE ACCEPTED FROM EMPLOYEES, FROM INDIVIDUAL BOARD MEMBERS, OR FROM ORGANIZATIONS OF WHICH CURRENT AND FORMER MEMBERS ARE SIGNIFICANT EMPLOYEES OR BOARD MEMBERS. ALL TRANSACTION DECISIONS FOLLOW STANDARD POLICIES AND PROCEDURES INCLUDING THOSE COVERING CONFLICT OF INTEREST. TWO MEMBERS OF THE BOARD OF DIRECTORS OR THEIR FAMILY MEMBERS HAVE PROVIDED INVESTMENTS TOTALING $416,245 TO THE COMMUNITY LOAN FUND, AND ELEVEN EMPLOYEES HAVE PROVIDED INVESTMENTS OR HAVE FAMILY MEMBERS WHO HAVE PROVIDED INVESTMENTS TOTALING $187,640. BOARD MEMBERS AND STAFF ARE TYPICALLY DONORS TO THE COMMUNITY LOAN FUND. DONATIONS AND INVESTMENTS ARE ACCEPTED FROM EMPLOYEES, FROM INDIVIDUAL BOARD MEMBERS, OR FROM ORGANIZATIONS WITH WHICH CURRENT ANDFORMER EMPLOYEES AND BOARD MEMBERS ARE EMPLOYED OR ASSOCIATED. THE TRANSACTIONS ARE PART OF THE COMMUNITY LOAN FUND'S NORMAL COURSE OF BUSINESS AND ARE OPEN TO THE PUBLIC AT LARGE.