2021-11-15T09:57:12-06:00 2020-12-31 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2020-01-01 822351889 EQUITABLE FACILITIES FUND INC CHAR 2125065089 228 PARK AVE S PMB 61633 NEW YORK NY 100031502 ANAND KESAVAN CEO 2125065089 2021-11-11 1 ANAND KESAVAN 999009999 LU ANN TRAPP P01506476 3122071040 2021-11-11 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ANAND KESAVAN 228 PARK AVE S PMB 61633 NEW YORK NY 100031502 48316179 0 X EQFUND.ORG X 2017 NY EFF IS A NONPROFIT SOCIAL IMPACT FUND THAT BELIEVES ALL CHILDREN DESERVE A QUALITY EDUCATION. WE EMPOWER HIGH-PERFORMING PUBLIC CHARTER SCHOOLS WITH EQUITABLE ACCESS TO LOW-COST, LONG-TERM FINANCING BY INNOVATIVELY COMBINING MISSION-RELATED INVESTMENTS AND CAPITAL MARKETS. 3 3 11 3 0 0 4250000 37216421 3287669 10246115 3666937 853643 145816 0 11350422 48316179 0 0 0 0 1894176 2045433 0 0 79653 3060255 7526330 4954431 9571763 6395991 38744416 338841611 575484952 132680069 333173996 206161542 242310956 X EFF IS A NONPROFIT SOCIAL IMPACT FUND THAT BELIEVES ALL CHILDREN DESERVE A QUALITY EDUCATION. WE EMPOWER HIGH-PERFORMING PUBLIC CHARTER SCHOOLS WITH EQUITABLE ACCESS TO LOW-COST, LONG-TERM FINANCING BY INNOVATIVELY COMBINING MISSION-RELATED INVESTMENTS AND CAPITAL MARKETS. 0 0 8554031 10246115 THE EQUITABLE FACILITIES FUND LEVERAGES DONATIONS AND OTHER PHILANTHROPIC MONIES IT RECEIVES AND HOLDS TO ENABLE CHARTER SCHOOLS TO BORROW MORE CHEAPLY AND EFFECTIVELY. DESIGNING, IMPLEMENTING AND MAINTAINING THIS NEW SOURCE OF CAPITAL FOR CHARTER SCHOOL FACILITIES WILL ULTIMATELY LEAD TO IMPROVED PUBLIC EDUCATION FOR CHILDREN. 8554031 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 29 0 1 11 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 NY X ANAND KESAVAN CEO 2125065089 228 PARK AVE S NEW YORK NY 100031502 ANAND KESAVAN CEO 40.00 0.00 X 426200 0 133174 MICHELLE GETZ CHIEF CREDIT OFFICER 40.00 0.00 X 253200 0 37120 WENDY BERRY INVESTMENT PRINCIPAL, LNDG & RSRCH 40.00 0.00 X 193810 0 35343 MARC WANCER INVESTMENT PRINCIPAL, LNDG & CREDIT 40.00 0.00 X 193810 0 18536 MIKE MCGREGOR CHIEF OF STAFF 40.00 0.00 X 168060 0 17934 SHANNON FALON INVESTMENT ASSOCIATE 40.00 0.00 X 114500 0 16728 KARINA VADILLO INVESTMENT ASSOCIATE 40.00 0.00 X 114500 0 14142 BUDDY PHILPOT CHAIRMAN 5.00 0.00 X X 0 0 0 SCOTT PEARSON SECRETARY 5.00 0.00 X X 0 0 0 KEVIN HALL TREASURER 5.00 0.00 X X 0 0 0 1464080 0 272977 7 0 1 0 ORRICK HERRINGTON & SUTCLIFFE LLP 405 HOWARD STREET SAN FRANCISCO CA 94105 LEGAL COUNSEL 350000 ZATA CONSULTING LLC 2093 PHILADELPHIA PIKE 5807 CLAYMONT DE 19703 CONSULTING SERVICES 142838 LBMC EMPLOYMENT PARTNERS LLC 201 FRANKLIN RD 200 BRENTWOOD TN 37027 PEO - PAYROLL & EMPLOYEE BENEFITS 128304 KAMM INSURANCE GROUP INC 7N024 MEDINAH ROAD MEDINAH IL 60157 INSURANCE BROKER 107586 4 37216421 34997178 37216421 LOAN INCOME 900099 10042165 10042165 SERVICE FEES 900099 203950 203950 10246115 853643 853643 48316179 10246115 0 853643 843860 616073 176944 50843 804865 711422 93443 169908 136804 27864 5240 131981 106266 21645 4070 94819 76345 15550 2924 45874 3430 42444 166187 166187 895110 628150 259233 7727 9824 9824 14304 11517 2346 441 61962 49889 10162 1911 78706 63371 12908 2427 93536 75312 15340 2884 5473 5473 6026504 6026504 11655 9385 1911 359 83139 83139 STAFF DEVELOPEMENT 12529 10088 2055 386 CUSTOMER GIFTS 2699 2699 BUSINESS LICENSES 1648 1648 BANK FEES 419 419 16761 11479 4841 441 9571763 8554031 938079 79653 2220885 1972764 2008521 1705200 154642266 395099785 216498 273512 34612 19339 15256 15273 178559305 174928536 393076 63793 785804 1426089 338841611 575484952 2172618 3361595 129913995 329692509 593456 119892 132680069 333173996 X 198062150 204905844 8099392 37405112 206161542 242310956 338841611 575484952 X 38744416 -268319 -2326683 X 0 1 X 1 0 X X X 2 NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS 841553195 7 1 0 0 NATIONAL ALLIANCE FOR PUBLIC CHARTER SCHOOLS 300274709 7 1 0 0 2 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 9571763 9571763 628588 157147 0 0 242956 231780 397722 628588 1501046 2251569 60739 57945 99431 157147 375262 562893 3805 3805 0 30807 15534 15273 15273 MONEY MARKET FUNDS 128932789 F US TREASURY NOTES 37415570 F MUNICIPAL BONDS 8580177 F 174928536 INVESTMENT IN DERIVATIVES 119892 119892 47927968 -268319 -119892 -388211 48316179 0 48316179 9571763 0 9571763 0 9571763 PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAPS -119,892. X X X X 0 1 0 0 0 0 0 1 1 1 ANAND KESAVAN CEO 425000 0 0 0 1200 0 106250 0 26924 0 559374 0 0 0 MICHELLE GETZ CHIEF CREDIT OFFICER 210000 0 42000 0 1200 0 0 0 37120 0 290320 0 0 0 WENDY BERRY INVESTMENT PRINCIPAL, LNDG & RSRCH 175100 0 17510 0 1200 0 0 0 35343 0 229153 0 0 0 MARC WANCER INVESTMENT PRINCIPAL, LNDG & CREDIT 175100 0 17510 0 1200 0 0 0 18536 0 212346 0 0 0 MIKE MCGREGOR CHIEF OF STAFF 139050 0 27810 0 1200 0 0 0 17934 0 185994 0 0 0 PART I, LINE 4B ANAND KESAVAN - 457F CONTRIBUTION ON 1/13/2020 OF $85,000 ANAND KESAVAN - 457F CONTRIBUTION ON 1/15/2020 OF $21,250 THESE ALL VEST IN 2022 OR LATER AND THERE IS SUBSTANTIAL RISK OF FORFEITURE. PART I, LINE 7 THE BOARD HAS REVIEWED AND APPROVED AN EMPLOYEE COMPENSATION STRATEGY THAT INCLUDES AN ANNUAL BONUS. ANNUALLY, THE BOARD REVIEWS AND APPROVES AN ANNUAL OPERATING BUDGET THAT INCLUDES A LINE ITEM FOR BONUSES. THE CEO DETERMINES DISCRETIONARY BONUSES ANNUALLY BASED ON THE ORGANIZATIONS PERFORMANCE TOWARD LENDING GOALS, FINANCIAL RESULTS, AND INDIVIDUAL PERFORMANCE EVALUATIONS. PART I, LINE 8 THE CEO IS BEING PAID PURSUANT TO THE INITIAL CONTRACT EXCEPTION DESCRIBED IN REGS. SECTION 53.4958-4(A)(3). THE CEO WAS HIRED AUGUST 28, 2017. A ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY 813526584 04052FAX3 2019-08-29 109558533 TO FINANCE LOANS FOR CAPITAL PROJECTS FOR PUBLIC CHARTER SCHOOLS 0 0 1 B CALIFORNIA INFRASTUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 13035AAT6 2019-08-29 23214309 TO FINANCE LOANS FOR CAPITAL PROJECTS FOR PUBLIC CHARTER SCHOOLS 0 0 1 C ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY 813526584 13035ABS7 2020-08-27 146976682 TO FINANCE LOANS FOR CAPITAL PROJECTS FOR PUBLIC CHARTER SCHOOLS 0 0 1 D CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 13035ABS7 2020-08-27 57945093 TO FINANCE LOANS FOR CAPITAL PROJECTS FOR PUBLIC CHARTER SCHOOLS 0 0 1 A 830000 109661723 6640392 57763 1914843 33574759 62048598 5960584 1 1 0 1 B 175000 23250547 1417319 27357 4448246 418376 7925784 9127340 361 1 1 0 1 C 146977179 7373262 9539218 1660532 71638543 48373593 8392032 1 1 0 1 D 57945288 2891081 657100 53353355 1043753 0 1 0 1 A 1 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 1 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 1 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 1 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 1 0 0 1 GOLDMAN SACHS BANK USA 0 1 0 0 1 B 0 1 1 0 0 1 GOLDMAN SACHS BANK USA 0 1 0 0 1 C 0 1 1 0 0 1 GOLDMAN SACHS BANK USA 0 1 0 0 1 D 0 1 1 0 0 1 GOLDMAN SACHS BANK USA 0 1 0 0 1 A 1 B 1 C 1 D 1 COLUMNS A & B: THE SERIES 2019A AND 2019B BONDS WERE ISSUED AS A SINGLE ISSUE FOR INCOME TAX PURPOSES; HOWEVER, THE ISSUES HAVE BEEN SEPARATED OUT ON SCHEDULE K FOR PRESENTATION PURPOSES. AMOUNTS IN PART II REFLECT USE OF PROCEEDS BY THE BORROWER EQUITABLE FACILITIES FUND, INC. AND ALSO USE BY THE CHARTER SCHOOLS TO WHICH THE BORROWER MADE LOANS OF PROCEEDS. COLUMNS C & D: THE SERIES 2020A AND 2020B BONDS WERE ISSUED AS A SINGLE ISSUE FOR INCOME TAX PURPOSES; HOWEVER, THE ISSUES HAVE BEEN SEPARATED OUT ON SCHEDULE K FOR PRESENTATION PURPOSES. AMOUNTS IN PART II REFLECT USE OF PROCEEDS BY THE BORROWER EQUITABLE FACILITIES FUND, INC. AND ALSO USE BY THE CHARTER SCHOOLS TO WHICH THE BORROWER MADE LOANS OF PROCEEDS. COLUMN A: PART 1(F): SERIES 2019A BOND PROCEEDS FINANCED LOANS TO THE FOLLOWING CHARTER SCHOOLS OR AFFILIATES THEREOF: SOULSVILLE FOUNDATION, INC., VILLAGE TECH SCHOOLS, ARIZONA SCHOOL FOR THE ARTS, RHODE ISLAND MAYORAL ACADEMY BLACKSTONE VALLEY, LAUNCHPAD DEVELOPMENT COMPANY (ROCKETSHIP EDUCATION), KIPP NASHVILLE, JAMES IRWIN EDUCATIONAL FOUNDATION (JAMES IRWIN CHARTER SCHOOLS), AND ITINERIS HIGH SCHOOL. COLUMN B: PART 1(F): SERIES 2019B BOND PROCEEDS FINANCED LOANS TO THE FOLLOWING CHARTER SCHOOLS OR AFFILIATES THEREOF: KIPP BAY AREA SCHOOLS, AND ALLIANCE FOR COLLEGE-READY PUBLIC SCHOOLS FACILITIES CORPORATION, CALIBER EAST BAY REAL ESTATE, CALIBER PUBLIC SCHOOLS, AND VALLE VISTA EDUCATION, LLC. COLUMN C: PART I (F): SERIES 2020A BOND PROCEEDS FINANCED LOANS TO THE FOLLOWING CHARTER SCHOOLS OR AFFILIATES THEREOF: CHOICES IN LEARNING, INC., ARLINGTON CLASSICS ACADEMY, THE FRIENDS OF TEAM CHARTER SCHOOLS, INC., TEAM CHARTER SCHOOL, INC., NYOS CHARTER SCHOOL, INC., KIPP NASHVILLE, SCUOLA VITA NUOVA, BROOKSIDE CHARTER SCHOOL, DAYSPRING ACADEMY, AND SARASOTA SCHOOL OF ARTS AND SCIENCES, INC. COLUMN D: PART I (F): SERIES 2020B BOND PROCEEDS FINANCED LOANS TO THE FOLLOWING CHARTER SCHOOLS OR AFFILIATES THEREOF: CALIBER EAST BAY REAL ESTATE, CALIBER PUBLIC SCHOOLS, VALLE VISTA EDUCATION, LLC, RENAISSANCE ARTS ACADEMY, RAA 2558 SAN FERNANDO ROAD LLC, PICO UNION COLLECTIVE, EQUITAS ACADEMY CHARTER SCHOOL, INC., AND EQUITAS #5 AND #6 LLC. COLUMNS A-D: DIFFERENCE BETWEEN PART I(E) AND PART II, LINE 3 IS DUE TO INVESTMENT EARNINGS. COLUMNS A-D: PART III, LINE 7: AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6, IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. COLUMNS A-D: PART IV, LINE 2(B): THE CURRENT REFUNDING PORTION OF THE BONDS HAS MET THE 6-MONTH EXPENDITURE EXCEPTION TO REBATE. COLUMNS A-C: PART 4, LINES 4(A) - 4(E): AN ANTICIPATORY HEDGE WAS ENTERED INTO ON THE BONDS AND WAS TERMINATED AT ISSUANCE. THE TERMINATION PAYMENT WAS ACCOUNTED FOR IN CALCULATING THE YIELD ON THE BONDS, CONSISTENT WITH SECTION 1.148-4(H)(5)(II)(B) OF THE TREASURY REGULATIONS. X 1 34997178 FMV 0 1 1 PART I, LINE 32B: EFF REVIEWS AND FOLLOWS CONDITIONS OF THE GIFT AGREEMENT RELATED TO RECEIPT AND SALE OF NONCASH GIFTS. ALL PROCEEDS OF SALES OF NONCASH GIFTS ARE USED TO ADVANCE EFF'S MISSION. FORM 990, PART VI, SECTION A, LINE 6 EQUITABLE FACILITIES FUND IS MADE UP OF MEMBER ORGANIZATIONS. FORM 990, PART VI, SECTION A, LINE 7A EQUITABLE FACILITIES FUND HAS MEMBER ORGANIZATIONS THAT ELECT BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE GOVERNING BODY CURRENTLY DOES NOT HAVE ANY SUB-COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. MANAGEMENT REVIEWS THE COMPLETED FORM 990 AND PROVIDES A FULL COPY TO ALL VOTING MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE ANNUALLY REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT AS A PRECURSOR TO THEIR SERVICE TO THE ORGANIZATION. POTENTIAL CONFLICTS ARE LOGGED WITH AND MONITORED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE BOARD CONDUCTS A PERFORMANCE EVALUATION OF THE CEO, WHICH INCLUDES REVIEWING COMPENSATION. EFF MANAGEMENT PREPARED AN EXECUTIVE COMPENSATION STRATEGY FOR THE BOARD'S REVIEW AND APPROVAL DURING THE NOVEMBER 2017 BOARD MEETING. THE STRATEGY WAS PREPARED BASED ON A SURVEY OF OTHER COMPARABLE NONPROFIT ORGANIZATIONS. THE STRATEGY INCLUDED PAY BANDS AND TOTAL COMPENSATION FOR EXECUTIVE TEAM MEMBERS AS WELL AS PROCESS FOR REVIEWING AND APPROVING EXECUTIVE TEAM SALARY DECISIONS. THE BOARD APPROVED THE STRATEGY ON 11.8.2017. PRIOR TO THE CHIEF CREDIT OFFICERS HIRE, THE BOARD REVIEWED THE SALARY AND APPROVED THE HIRE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE THROUGH APPLICABLE GOVERNMENTAL AGENCIES; THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON WRITTEN REQUEST TO THE ORGANIZATION. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON INTEREST RATE SWAPS -119,892. LOSS ON DERIVATIVES -2,206,791. EQUITABLE SCHOOL REVOLVING FUND LLC 228 PARK AVE S NEW YORK NY 100031502 825059293 SUPPORT CHARTER SCHOOLS DE 10944598 534433880 EQUITABLE FACILITIES FUND INC NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS 105 WEST ADAMS ST CHICAGO IL 60603 841553195 SUPPORT CHARTER SCHOOLS IL 501(C)(3) LINE 7 0 NATIONAL ALLIANCE FOR PUBLIC CHARTER SCHOOLS 1101 15TH STREET NW NO 1010 WASHINGTON DC 20005 300274709 SUPPORT CHARTER SCHOOLS DC 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0