2022-11-15T13:50:30-06:00 2021-12-31 873707167 CBIZ MARKS PANETH LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2021-01-01 112421972 INCLUSIV INC INCL 2128091850 39 BROADWAY SUITE 2140 NEW YORK NY 10006 EBEN SHEAFFER CFO/CIO 2128091850 2022-11-15 1 EBEN SHEAFFER 999009999 MAGDALENA M CZERNIAWSKI P00535099 2125038800 2022-11-14 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z EBEN SHEAFFER 39 BROADWAY SUITE 2140 NEW YORK NY 10006 11675064 0 X WWW.INCLUSIV.ORG X 1974 DC THE MISSION OF THE NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNIONS IS TO HELP LOW- AND MODERATE-INCOME PEOPLE AND COMMUNITIES ACHIEVE FINANCIAL INDEPENDENCE THROUGH CREDIT UNIONS. 15 15 39 15 0 0 5290384 8247387 2926916 3427652 14312 25 0 0 8231612 11675064 680000 864700 0 0 2907648 3719107 0 0 79147 2898493 3245652 6486141 7829459 1745471 3845605 51995198 81962812 30077253 56199262 21917945 25763550 X THE MISSION OF THE NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNIONS IS TO HELP LOW- AND MODERATE-INCOME PEOPLE AND COMMUNITIES ACHIEVE FINANCIAL INDEPENDENCE THROUGH CREDIT UNIONS. 0 0 1390846 936949 INCLUSIV CAPITAL PROVIDES CAPITAL TO MEMBER CDCUS THROUGH UNINSURED SUBORDINATED DEBT LOANS AND INSURED NON-MEMBER DEPOSITS. 827010 565050 650796 INCLUSIV/BLACK COMMUNITIES, INCLUDING THE RESILIENCE FUND. INCLUSIV/BLACK COMMUNITIES IS A PROGRAM FOR SMALL AND FAITH-BASED CREDIT UNIONS SERVING PREDOMINANTLY AFRICAN AMERICAN COMMUNITIES. THE RESILIENCE FUND IS A GRANT FUND TO SUPPORT CREDIT UNIONS SERVING COMMUNITIES OF COLOR DISPROPORTIONATELY AFFECTED BY THE CORONAVIRUS PANDEMIC. THROUGH THE RESILIENCE FUND, INCLUSIV DISTRIBUTES GRANT SUPPORT TO MINORITY DEPOSITORY INSTITUTIONS (MDIS) UNDER $100 MILLION IN ASSETS. 539367 929883 CDCU MORTGAGE CENTER LLC IS A WHOLLY OWNED SUBSIDIARY ESTABLISHED TO PURCHASE AFFORDABLE MORTGAGES FROM MEMBER CREDIT UNIONS, ENABLING THEM TO RECYCLE THEIR CAPITAL, MANAGE THEIR BALANCE SHEETS, AND MAKE NEW LOANS. 4251925 299650 910024 ACTIVITIES RELATED TO FURTHERING THE ORGANIZATION'S MISSION, INCLUDING FINANCIAL COUNSELING AND THE ADVANCEMENT OF FINANCIAL INCLUSION FOR MULTIPLE UNDERSERVED POPULATIONS. 4251925 299650 910024 7009148 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 0 0 0 0 1 36 0 1 39 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NY X CATHLEEN MAHON PRESIDENTCEO 2128091850 39 BROADWAY SUITE 2140 NEW YORK NY 10006 ANGELA MORRISON RECORDING SECRETARY 1.00 X X 0 0 0 ARMANDO MARTINEZ DIRECTOR (OUTGOING) 1.00 X 0 0 0 AURELIO ARROYA GONZALEZ DIRECTOR 1.00 X 0 0 0 BLANCHE L JACKSON DIRECTOR 1.00 X 0 0 0 BRENDA DOMINQUEZ TREASURER 1.00 X X 0 0 0 CARLA DECKER VICE CHAIRMAN (OUTGOING) 1.00 X X 0 0 0 CHERYL FATNASSI CORRESP. SECRETARY (OUTGOING) 1.00 X X 0 0 0 ED SIVAK DIRECTOR 1.00 X 0 0 0 EDDIE ALICEA CORRESP. SECRETARY 1.00 X X 0 0 0 HANK HUBBARD DIRECTOR 1.00 X 0 0 0 JACK LAWSON DIRECTOR 1.00 X X 0 0 0 JACQUELINE MOORE DIRECTOR 1.00 X 0 0 0 JAMES HUNTER DIRECTOR (OUTGOING) 1.00 X 0 0 0 KATHY CHARTIER DIRECTOR 1.00 X 0 0 0 MICHELE FRANQUI BAQUERO DIRECTOR 1.00 X 0 0 0 PAUL PHILLIPS DIRECTOR (OUTGOING) 1.00 X 0 0 0 PAUL WOODRUFF VICE CHAIRMAN 1.00 X X 0 0 0 RICHARD ROMERO CHAIRMAN 1.00 X X 0 0 0 ROBIN ROMANO DIRECTOR 1.00 X 0 0 0 SHASTA LEININGER DIRECTOR 1.00 X 0 0 0 SHEILAH MONTGOMERY RECORDING SECRETARY (OUTGOING) 1.00 X X 0 0 0 CATHLEEN MAHON PRESIDENT/CEO 40.00 X 257030 0 12440 EBEN SHEAFFER CFO/CIO 40.00 X 212457 0 13113 PAMELA OWENS VICE PRESIDENT 40.00 X 144228 0 10774 ANDREA LALLY DIR. OF CREDIT UNION OP 40.00 X 101016 0 10622 ANN D SOLOMON SR V.P. STRATEGIC INITIATIVES 40.00 X 126032 0 13596 NEDA ARABSHAHI VP, RESILIENCY & CLEAN ENERGY 40.00 X 121882 0 0 PABLO DEFILIPPO SVP NETWORK DEVELOPMENT 40.00 X 147108 0 7054 1109753 0 67599 7 0 1 0 MCKINSEY & COMPANY 140 FOUNTAIN PARKWAY N STE 800 ST PETERSBERG FL 33716 CONSULTING 200000 TMR & ASSOCIATES 22 OTSEGO AVE NEW ROCHELLE NY 10804 CONSULTING 169213 2 2742465 5504922 8247387 INTEREST ON LOANS 522100 1866807 1866807 MEMBERSHIP DUES 522100 1211308 1211308 CONTRACT SERVICE 522100 210048 210048 CONFERENCE FEES 522100 84845 84845 PUBLICATIONS 522100 54644 54644 3427652 25 25 11675064 3427652 0 25 X 864700 864700 677455 387957 262700 26798 2377434 2189136 168946 19352 85783 81029 4040 714 350623 309702 36939 3982 227812 193529 30630 3653 15950 15950 51183 51183 1298651 1157902 137903 2846 17963 200 17763 191469 187331 3688 450 359480 359480 256491 211710 41785 2996 6081 5859 222 13656 11417 2239 795248 795248 113144 90232 22656 256 20542 18910 1564 68 MORTGAGE SERVICE FEES 53093 49811 3250 32 MISCELLANEOUS 28056 3417 24624 15 PROVISION FOR LOAN LOSS 24645 24645 7829459 7009148 741164 79147 1100520 1681938 11142795 13823998 526729 678035 36713774 63831660 8430 22329 548646 228876 403030 319770 323338 564328 1776582 1040754 51995198 81962812 224854 511879 810512 91175 28317068 55304563 420800 0 304019 291645 30077253 56199262 X 18202579 21444881 3715366 4318669 21917945 25763550 51995198 81962812 3845605 0 X X 0 1 X 1 0 X 3155560 2251892 4042265 5290384 8247387 22987488 3155560 2251892 4042265 5290384 8247387 22987488 7224667 15762821 9931 25018 27108 14312 25 76394 15457 60234 75691 23139573 14070456 0.68120 0.66420 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: LOAN LOSS RECOVERY - 2017 AMOUNT: $ 15,457. 2019 AMOUNT: $ 60,234. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 405088 126599 278489 143558 102277 41281 319770 DEFERRED RENT 291645 291645 X 11918119 243055 243055 11675064 0 11675064 8072514 243055 243055 7829459 0 7829459 PART X, LINE 2: INCLUSIV BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2021 AND 2020 IN ACCORDANCE WITH FASB ASC TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. 1 CITIZENS CHOICE FCU 101 SAINT CATHERINE ST NATCHEZ MS 39122 840503610 501(C)(1) 7500 0 RURAL COMMUNITY PROGRAM COOPERATIVA AC DE LAJAS 47 SUR CALLE 65 INFANTERIA PLAZA DEL VALLE STE 1 LAJAS PR 00667 660230294 501(C)(1) 8500 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA CREDICOOP SAN BLAS PO BOX 319 LAJAS PR 00769 660206661 501(C)(1) 8500 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRA Y CREDITO DE AGUAS BUENA CALLE RAFAEL LASA NO 14 AGUAS BUENAS PR 00602 660262500 501(C)(1) 8500 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRA Y CREDITO DE FLORIDA 5 CALLE TEODORO MORALES FLORIDA PR 00650 660264535 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRA Y CREDITO DE SALINAS PO BOX 612 SALINAS PR 00751 660254755 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRA Y CREDITO DE SANTA ISABEL PO BOX 812 SANTA ISABEL PR 00757 660258299 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRA Y CREDITO LA COMERIENA PO BOX 289 COMERIO PR 00782 660275391 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRO Y CRDITO FAMILIAR PROGRESIS URB PUERTO NUEVO AVENIDA DE DIEGO 479 SAN JUAN PR 00920 660287199 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRO Y CRDITO TUCOOP 209 ROBERTO H TODD AVENUE SAN JUAN PR 00907 660821817 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE AHORRO Y CREDITO MUNICIPALES GUAYNA PO BOX 1118 GUAYNABO PR 00969 660384171 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA DE EDUCOOP 501 AVE PONCE DE LEON SAN JUAN PR 00918 660202393 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA JESUS OBRERO PO BOX 1419 GUAYNABO PR 00971 660267388 501(C)(1) 9500 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA MAYAGUEZ PO BOX 416 MAYAGUEZ PR 00680 660324225 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVA SAN MIGUEL PO BOX 925 NARANJITO PR 00719 660267894 501(C)(1) 7000 0 CREDIT UNION IMPACT CAPACITY BUILDING COOPERATIVE CENTER FCU 3015 SAN PABLO AVE SUITE A BERKELEY CA 94702 941252579 501(C)(1) 51900 0 CREDIT UNION IMPACT CAPACITY BUILDING COUNCILL FCU 1061 BUCHANAN WAY NORMAL AL 35761 630739427 501(C)(1) 7500 0 CREDIT UNION IMPACT CAPACITY BUILDING CREDIT UNION OF ATLANTA METROPOLITAN PKWY ATLANTA GA 30310 581097538 501(C)(1) 7500 0 CREDIT UNION IMPACT CAPACITY BUILDING DC FEDERAL CREDIT UNION 2000 14TH ST NW 2 WASHINGTON DC 20009 530222622 501(C)(1) 12500 0 CREDIT UNION IMPACT CAPACITY BUILDING DEMOPOLIS FCU PO BOX 727 DEMOPOLIS AL 36732 630787299 501(C)(1) 7500 0 CREDIT UNION IMPACT CAPACITY BUILDING EDISTO FEDERAL CREDIT UNION 1880 RUSSEL STREET ORANGEBURG SC 29115 570370516 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING EPISCOPAL COMMUNITY FCU 840 ECHO PARK AVE LOS ANGELES CA 90026 954483678 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING FAITH BASED CREDIT UNION ALLIANCE PO BOX 19144 CHICAGO IL 60654 900509027 501(C)(1) 20000 0 CREDIT UNION IMPACT CAPACITY BUILDING FOGCE FCU 112 PRAIRIE EUTAW AL 35462 530705637 501(C)(1) 7500 0 CREDIT UNION IMPACT CAPACITY BUILDING GUADALUPE CENTERS FEDERAL CREDIT UNION 1015 AVENIDA CESAR E CHAVEZ KANSAS CITY MO 64108 440564661 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING LAKOTA FEDERAL CREDIT UNION PO BOX 196 KYLE SD 57752 320388362 501(C)(1) 7500 0 CREDIT UNION IMPACT CAPACITY BUILDING MT ZION INDIANAPOLIS FCU 3549 BOULEVARD PL INDIANAPOLIS IN 46208 351096568 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING NEIGHBORHOOD TRUST FINANCIAL PARTNERS 530 WEST 166TH STREET 4TH FLOOR NEW YORK NY 10032 133849263 501(C)(1) 300000 0 CREDIT UNION IMPACT CAPACITY BUILDING NEW COVENANT DOMINIUM FCU 1185 BOSTON ROAD BRONX NY 10456 562652283 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING NORTHEAST COMMUNITY FEDERAL CREDIT UNION 683 CLAY ST SAN FRANCISCO CA 94111 942891498 501(C)(1) 51900 0 CREDIT UNION IMPACT CAPACITY BUILDING NRS CD FCU PO BOX 130520 BURMINGHAM AL 35213 631179373 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING NUEVA ESPANZA COMMUNITY CU 1638 BROADWAY ST TOLEDO OH 43609 272873365 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING SELF-HELP FEDERAL CREDIT UNION 2504 TENAYA DRIVE MODESTO CA 95354 501(C)(1) 51900 0 CREDIT UNION IMPACT CAPACITY BUILDING SISSETON-WAHPETON FCU 45665 VETERANS MEMORIAL DR AGENCY VILLAGE SD 57262 460411299 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING SIXTH AVENUE BAPTIST FCU 1101 MARTIN LUTHER KING JR DR SW BIRMINGHAM AL 35211 630682445 501(C)(1) 7500 0 CREDIT UNION IMPACT CAPACITY BUILDING STAR OF TEXAS CREDIT UNION 114 E HUNTLAND DRIVE AUSTIN TX 78752 741198379 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING TOLEDO URBAN FCU 1339 DORR STREET TOLEDO OH 43607 341769460 501(C)(1) 7500 0 CREDIT UNION IMPACT CAPACITY BUILDING UNIFIED HOMEOWNERS OF IL FCU 4464 N MILWAUKEE AVE CHICAGO IL 60630 204756401 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING UNION BAPTIST CHURCH FEDERAL CREDIT UNION 2200 SMITH ST FORT WAYNE IN 46803 208791694 501(C)(1) 22500 0 CREDIT UNION IMPACT CAPACITY BUILDING URBAN UPBOUND FCU 13-03B 40TH AVENUE LONG ISLAND CITY NY 11101 010954826 501(C)(1) 10000 0 CREDIT UNION IMPACT CAPACITY BUILDING 48 PART I, LINE 2: ASSISTANCE AGREEMENTS ARE EXECUTED WITH RECIPIENT ORGANIZATIONS. THE AGREEMENTS REQUIRE PERIODIC REPORTING AND, TYPICALLY, MILESTONE ACHIEVEMENTS FOR DISBURSEMENT OF FUNDS. X X X X 0 0 0 0 0 0 0 0 0 CATHLEEN MAHON PRESIDENT/CEO 256670 0 0 0 360 0 12440 0 0 0 269470 0 0 0 EBEN SHEAFFER CFO/CIO 211617 0 0 0 840 0 10363 0 2750 0 225570 0 0 0 PAMELA OWENS VICE PRESIDENT 143388 0 0 0 840 0 7054 0 3720 0 155002 0 0 0 PABLO DEFILIPPO SVP NETWORK DEVELOPMENT 147108 0 0 0 0 0 7054 0 0 0 154162 0 0 0 SCHEDULE J PART II: THE AMOUNTS REPORTED IN COLUMN (B)(III) REFLECT OTHER ALLOWANCE. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS PREPARED BY AN INDEPENDENT ACCOUNTANT. THE BOARD IS MADE UP OF 15 MEMBERS AND INCLUDES A DESIGNATED FINANCE COMMITTEE WITHIN THESE MEMBERS. IT IS A PRACTICE OF THE ORGANIZATION TO SEND THE FINANCE COMMITTEE THE TAX RETURN TO REVIEW BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED ANNUALLY TO COMPLETE AND SIGN A CONFLICT OF INTEREST POLICY DISCLOSURE FORM, WHICH IS THEN REVIEWED BY THE BOARD OF DIRECTORS EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15A OFFICERS AND MANAGEMENT OFFICIALS COMPENSATION IS DETERMINED BY BOARD COMMITTEE IN CONJUNCTION WITH INDEPENDENT COMPENSATION SURVEYS. THERE IS A DEDICATED BOARD COMMITTEE THAT DETERMINES THE CEO COMPENSATION AND THAT COMMITTEE TESTS THE LABOR MARKET FOR COMPARABLE COMPENSATION BY USING INDEPENDENT SURVEY DATA. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 392,980. MANAGEMENT AND GENERAL EXPENSES 26,827. FUNDRAISING EXPENSES 831. TOTAL EXPENSES 420,638. PROFF FEES: PROGRAM SERVICE EXPENSES 764,922. MANAGEMENT AND GENERAL EXPENSES 111,076. FUNDRAISING EXPENSES 2,015. TOTAL EXPENSES 878,013. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. CDCU MORTGAGE CENTER LLC 39 BROADWAY SUITE 2140 NEW YORK NY 10006 260379173 PURCHASING MORTGAGES FROM MEMBER CREDIT UNIONS NY 929883 22773891 NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNION INCLUSIV SECONDARY CAPITAL FUND LLC 39 BROADWAY SUITE 2140 NEW YORK NY 10006 MAKING SECONDARY CAPITAL LOANS TO INCLUSIV MEMBER CREDIT UNIONS NY 487257 29647341 NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNION