2020-10-01T08:53:40-05:00 2019-12-31 420714325 RSM US LLP 30 S 17TH ST SUITE 710 PHILADELPHIA PA 19103 990 2019-01-01 205189202 OPPORTUNITY FINANCE NETWORK OPPO 2159234754 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 BETH LIPSON CHIEF FINANCIAL OFFICER 2159234754 2020-09-23 1 LYNNE JOHNSON P00757336 2157654600 68.81.77.68 2020-09-23 17:00:18 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 2C3F20D443C579AC52A3CEECD046258A70BEA2FD 2019 2021-01-29 14:40:06Z X BETH LIPSON 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 17120883 0 X WWW.OFN.ORG X 2006 PA OPPORTUNITY FINANCE NETWORK'S (OFN) MISSION IS TO LEAD COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) AND THEIR PARTNERS TO ENSURE THAT LOW-INCOME, LOW-WEALTH, AND OTHER DISINVESTED PEOPLE AND COMMUNITIES HAVE ACCESS TO AFFORDABLE, RESPONSIBLE FINANCIAL PRODUCTS AND SERVICES. OFN IS A NATIONAL LEADERSHIP NETWORK OF MORE THAN 280 CDFIS, INCLUDING COMMUNITY BANKS, CREDIT UNIONS, AND LOAN FUNDS. OFN, THROUGH ITS MEMBERS, INVEST IN LOW-INCOME AND UNDERSERVED RURAL, URBAN, AND NATIVE AMERICAN COMMUNITIES ACROSS ALL 50 STATES IN AMERICA; PROVIDING AFFORDABLE, RESPONSIBLE CREDIT THAT FINANCES COMMUNITY BUSINESSES, SPARKS JOB GROWTH IN THE AREAS THAT NEED IT MOST, AND DELIVERING BOTH SOUND FINANCIAL RETURNS AND REAL CHANGES FOR PEOPLE AND COMMUNITIES. OFN'S PROGRAM AND SERVICES INCLUDES PROVIDING FINANCIAL PRODUCTS AND SERVICES FOR CDFIS, INCREASING THE STRENGTH AND CAPACITY OF THE CDFI INDUSTRY, AS WELL AS AMPLIFYING THE VOICE OF THE INDUSTRY. 13 12 35 12 0 0 4204443 7614604 8772329 8729250 146773 113801 0 0 13123545 16457655 20000 275213 0 0 4587122 4639183 0 0 326075 5926491 6094708 10533613 11009104 2589932 5448551 142073399 152045945 89143982 93657162 52929417 58388783 OFN'S MISSION IS TO LEAD CDFIS AND THEIR PARTNERS TO ENSURE THAT LOW-INCOME, LOW-WEALTH, AND OTHER UNDERSERVED PEOPLE AND COMMUNITIES HAVE ACCESS TO AFFORDABLE, RESPONSIBLE FINANCIAL PRODUCTS AND SERVICES. 0 0 3917078 5945215 FINANCIAL SERVICES: EXPANDING ACCESS TO RESPONSIBLE, AFFORDABLE CAPITAL.FINANCIAL SERVICES INCLUDES THE FOLLOWING ACTIVITIES WHICH BENEFIT LOW-INCOME AND LOW-WEALTH COMMUNITIES THROUGHOUT THE U.S: OFN'S FINANCING FUND (ON BALANCE-SHEET LENDING AND INVESTING TO CDFIS); FUND MANAGEMENT SERVICES (FEE-BASED BUSINESS PROVIDING CDFI FUND MANAGEMENT AND ASSET MANAGEMENT SERVICES TO THIRD PARTY INVESTORS); NEW MARKETS TAX CREDIT ACTIVITY; AND CDFI BOND GUARANTEE PROGRAM BOND ISSUANCE AND ADMINISTRATIVE SERVICES. 3982980 275213 2784035 STRENGTH: BUILDING POTENTIAL FOR IMPACT.OFN STRENGTHENS THE CDFI INDUSTRY BY PROVIDING PEER LEARNING OPPORTUNITIES, RESEARCH, INNOVATIVE NETWORKING PLATFORMS, AND SIGNATURE ANNUAL EVENTS (E.G. THE OFN CONFERENCE AND SMALL BUSINESS FINANCE FORUM) FOR CDFI PRACTITIONERS, PARTNERS, AND INVESTORS. 1295973 VOICE: AMPLIFYING THE CDFI MESSAGE AND SECURING STAKEHOLDER SUPPORT.ACROSS MULTIPLE PLATFORMS AND AUDIENCES, OFN'S STRATEGIC COMMUNICATIONS AND POLICY ADVOCACY DRIVE THE MESSAGE THAT CDFI INVESTMENTS TRANSFORM COMMUNITIES AND CHANGE LIVES-AND INCREASES RESOURCES TO CDFIS. 9196031 1 1 0 1 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 0 0 0 1 42 0 1 35 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA AK AL AR AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN MO NC ND NJ NH NM NV NY OH OK OR RI SC TN UT VA WA WI WV X LAURIE CURRAN 2159234754 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 DAVID GLASER BOARD TREASURER (THRU 10/2019) 2.00 X X 0 0 0 JIM KING BOARD CHAIR 2.00 X X 0 0 0 INEZ LONG BOARD MEMBER (THRU 10/2019) 2.00 X 0 0 0 CHRYSTEL CORNELIUS BOARD MEMBER 2.00 X 0 0 0 SHANE JETT BOARD MEMBER (THRU 10/2019) 2.00 X 0 0 0 PEARL WICKS BOARD MEMBER 2.00 X 0 0 0 LISA MENSAH PRESIDENT & CEO 40.00 X X 395805 0 35180 CARLA MANNINGS BOARD MEMBER 2.00 X 0 0 0 DONNA GAMBRELL BOARD VICE CHAIR 2.00 X X 0 0 0 DAVID BECK BOARD MEMBER 2.00 X 0 0 0 BETSY BIEMANN BOARD MEMBER 2.00 X 0 0 0 MARLA BILONICK BOARD MEMBER 2.00 X 0 0 0 ROBERT VILLARREAL TREASURER 2.00 X X 0 0 0 AISHA BENSON BOARD MEMBER 2.00 X 0 0 0 SARA RAZAVI BOARD MEMBER 2.00 X 0 0 0 CHRISTINA TRAVERS BOARD MEMBER 2.00 X 0 0 0 BETH LIPSON CHIEF FINANCIAL OFFICER 40.00 X 242205 0 3723 ANDREW GIVENS CHIEF OPERATING OFFICER 40.00 X 214225 0 36290 JENNIFER VASILOFF CHIEF EXTERNAL AFFAIRS OFFICER 40.00 X 206020 0 3723 ANDREA LONGTON SENIOR VP, FINANCIAL SVCS 40.00 X 161660 0 24069 MARY WRIGHT SENIOR VP, FINANCIAL SVCS 40.00 X 163220 0 1216 AMIR KIRKWOOD CHIEF LENDING & INVESTMENT OFFICER 40.00 X 233437 0 21673 LINA PAGE EVP, STRATEGIC COMMUNICATIONS 40.00 X 172957 0 3723 DONNA FABIANI EVP, KNOWLEDGE SHARING 40.00 X 164959 0 19477 SHAKEYDA DANIELS VP, FINANCIAL SERVICES 40.00 X 170793 0 7778 SETH JULYAN EVP, MEMBERSHIP 40.00 X 150849 0 19439 LANCE LOETHEN VP, KNOWLEDGE SHARING 40.00 X 146252 0 15496 2422382 0 191787 16 0 1 0 ALL AROUND CREATIVE 105 ATSION ROAD SUITE J MEDFORD NJ 08055 MARKETING SERVICES 128337 RSM US LLP 518 TOWNSHIP LINE ROAD SUITE 300 BLUE BELL PA 19422 ACCOUNTING 109338 HIGHER LOGIC LLC 1600 WILSON BLVD SUITE 400 ARLINGTON VA 22209 SOFTWARE DEVELOPER FOR ONLINE COMMUNITY 102700 3 623729 565000 6425875 7614604 INTEREST ON LOANS 525990 4653702 4653702 SPONSORSHIP INCOME 900099 1678750 1678750 OTHER FEES 900099 1351018 1351018 TRAINING EVENTS 900099 1045780 1045780 8729250 111761 111761 665268 663228 2040 2040 2040 16457655 8729250 0 113801 275213 275213 1594859 1248575 273735 72549 2368858 1785216 509132 74510 27496 19995 6184 1317 385072 280024 86603 18445 262898 191179 59126 12593 111039 111039 162479 160854 1340 285 131166 95384 29499 6283 12831 9331 2886 614 152701 152701 236565 176492 49458 10615 223528 162550 50271 10707 552971 403967 121614 27390 1475535 1380898 71403 23234 39452 36185 2417 850 1526355 1526355 116164 84475 26125 5564 58042 42208 13054 2780 OTHER MISC PROGRAM 643981 508816 82540 52625 TECHNOLOGY PROJECTS 233973 160128 73771 74 PROVISION FOR LOAN LOSS 162891 162891 MEMBERSHIPS 81297 80567 695 35 173738 140988 27145 5605 11009104 9196031 1486998 326075 8562073 14660808 1348230 760000 92581 678082 126597241 128186591 88734 308713 2038745 937885 114548 1100860 3612466 3652042 1657526 2698849 142073399 152045945 531144 1329467 65750 1236045 81547088 79091650 7000000 12000000 89143982 93657162 X 49314378 50507550 3615039 7881233 52929417 58388783 142073399 152045945 X 5448551 160815 -150000 X 0 1 X 1 1 1 X 6260098 4786685 1532838 4204443 7614604 24398668 6967651 6580827 8378687 8772329 8729250 39428744 13227749 11367512 9911525 12976772 16343854 63827412 3143904 2419757 519900 916055 1716086 8715702 0 3143904 2419757 519900 916055 1716086 8715702 55111710 245945 235244 219236 119691 111761 931877 245945 235244 219236 119691 111761 931877 13473694 11602756 10130761 13096463 16455615 64759289 0.85100 0.74040 0.01440 0.01640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1400 16916 18316 10990788 11009104 700455 175114 0 0 704766 676681 700455 2081902 3122853 280000 105000 18316 403316 176192 169170 175114 520476 780714 4550 1400 5950 SCHEDULE C, PART II-A OFN CONDUCTS PERMITTED LOBBYING ACTIVITIES IN TWO PRIMARY AREAS: GENERAL FEDERAL BUDGET LOBBYING AROUND FY '19 H.J. RES. 31 (CONSOLIDATED APPROPRIATIONS ACT, 2019) REGARDING CDFI FUND PROVISIONS; FY '20 APPROPRIATIONS FOR THE CDFI FUND; H.R. 3351 (FINANCIAL SERVICES & GENERAL GOVERNMENT APPROPRIATIONS ACT 2020), REGARDING CDFI FUND APPROPRIATIONS. GENERAL TAX CODE LOBBYING AROUND NEW MARKETS TAX CREDIT EXTENSION (S. 750, H.R. 1680, AND H.R. 1865). 753371 22447 730924 863542 745045 118497 421832 170393 251439 1100860 WELLS FARGO EQUITY EQUIVALENT INVESTMENT 7000000 BBVA USA EQUITY EQUIVALENT INVESTMENT 5000000 12000000 X 35378694 160815 95978 18664246 18921039 16457655 0 16457655 11264700 95978 159618 255596 11009104 0 11009104 PART X, LINE 2: INCOME TAXES: OFN IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, OFN QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. THE ORGANIZATION HAD NO SIGNIFICANT NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT OF THE FINANCIAL STATEMENTS. CONSEQUENTLY, NO ACCRUAL FOR INTEREST AND PENALTIES WAS DEEMED NECESSARY FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018. THE ORGANIZATION FILES TAX RETURNS IN THE U.S. FEDERAL AND STATE JURISDICTIONS. GENERALLY, THE ORGANIZATION IS NO LONGER SUBJECT TO TAX EXAMINATION BY THE U.S. FEDERAL OR STATE TAX AUTHORITIES FOR YEARS BEFORE 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: NONCONTROLLING INTEREST IN SUBSIDIARY 18,265,481. INVESTMENT IN SUBSIDIARY 398,765. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF LEASE 150,000. INVESTMENT IN SUBSIDIARY 9,618. 1 STEPPING STONES PARTNERS LLC 318 N ITHAN AVENUE ROSEMONT PA 19010 233066110 145213 OFN FISCAL AGENT TO STEPPING STONES LUMMI CDFI 12 BELLWETHER WAY SUITE 224 BELLINGHAM WA 98225 371525217 501(C)(3) 25000 2019 NATIVE SEED CAPITAL AWARD FOUR DIRECTIONS DEV CORP 764 PUSHAW ROAD BANGOR ME 04401 010544468 501(C)(3) 100000 2019 NATIVE CDFI CATALYST AWARD 2 1 PART I, LINE 2: OFN MAKES SMALL PASS-THRU OR OPERATIONAL GRANTS ASSOCIATED WITH SEVERAL CAPACITY BUILDING PROGRAM ACTIVITIES SUPPORTING CDFI WORK IN LOW-INCOME COMMUNITIES. X X 0 0 0 0 0 0 0 1 1 1 LISA MENSAH PRESIDENT & CEO 367305 0 28500 0 0 0 0 0 35180 0 430985 0 0 0 BETH LIPSON CHIEF FINANCIAL OFFICER 208378 0 33827 0 0 0 0 0 3723 0 245928 0 0 0 ANDREW GIVENS CHIEF OPERATING OFFICER 213225 0 1000 0 0 0 0 0 36290 0 250515 0 0 0 JENNIFER VASILOFF CHIEF EXTERNAL AFFAIRS OFFICER 205020 0 1000 0 0 0 0 0 3723 0 209743 0 0 0 ANDREA LONGTON SENIOR VP, FINANCIAL SVCS 160660 0 1000 0 0 0 0 0 24069 0 185729 0 0 0 MARY WRIGHT SENIOR VP, FINANCIAL SVCS 162220 0 1000 0 0 0 0 0 1216 0 164436 0 0 0 AMIR KIRKWOOD CHIEF LENDING & INVESTMENT OFFICER 197437 0 36000 0 0 0 0 0 21673 0 255110 0 0 0 LINA PAGE EVP, STRATEGIC COMMUNICATIONS 162957 0 10000 0 0 0 0 0 3723 0 176680 0 0 0 DONNA FABIANI EVP, KNOWLEDGE SHARING 163959 0 1000 0 0 0 0 0 19477 0 184436 0 0 0 SHAKEYDA DANIELS VP, FINANCIAL SERVICES 132293 0 38500 0 0 0 0 0 7778 0 178571 0 0 0 SETH JULYAN EVP, MEMBERSHIP 112349 0 38500 0 0 0 0 0 19439 0 170288 0 0 0 LANCE LOETHEN VP, KNOWLEDGE SHARING 110752 0 35500 0 0 0 0 0 15496 0 161748 0 0 0 PART I, LINE 7 THE ORGANIZATION PROVIDED INCENTIVE BONUSES TO SELECT OFFICERS AND HIGHLY COMPENSATED EMPLOYEES RELATED TO THE ORGANIZATION'S RELOCATION OF ITS HEADQUARTERS TO WASHINGTON DC AT THE DISCRETION OF THE CEO. THE CEO RECEIVED A BONUS IN AGREEMENT WITH THEIR EMPLOYMENT CONTRACT. PART I, LINE 8 THE CHIEF LENDING & INVESTMENT OFFICER RECEIVED A SIGNING BONUS WHEN HIRED IN 2019. FORM 990, PART VI, SECTION A, LINE 6 PER OFN'S BYLAWS, THERE IS ONE CLASS OF MEMBERSHIP AVAILABLE TO PRIVATE, NON-GOVERNMENTAL, MISSION-DRIVEN FINANCIAL INSTITUTIONS THAT MEET THE QUALIFICATIONS FOR MEMBERSHIP. EACH MEMBER IS ENTITLED TO BE REPRESENTED AT ANY MEETING OF THE MEMBERS BY UP TO TWO DELEGATES, WHO SHALL BE EITHER AN EMPLOYEE OF OR A BOARD MEMBER OF THE MEMBER. THE PRESENCE IN PERSON OF DELEGATES REPRESENTING AT LEAST ONE-THIRD OF THE MEMBERS CONSTITUTES A QUORUM FOR THE TRANSACTION OF BUSINESS. WHEN A QUORUM IS PRESENT AT ANY MEETING, THE MAJORITY OF THE VOTES PRESENT DECIDES ANY QUESTION BROUGHT BEFORE THE MEETING. EACH MEMBER IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. ALL VOTING, EXCEPT ELECTIONS FOR DIRECTORS WHICH IS BY WRITTEN OR PROXY BALLOT, MAY BE BY VOICE VOTE OR BALLOT. AT LEAST TWO-THIRDS OF THE DIRECTORS ARE ELECTED BY THE MEMBERS. UP TO ONE-THIRD OF THE DIRECTORS ARE APPOINTMENT BY THE BOARD OF DIRECTORS. NOMINATIONS FOR CANDIDATES FOR DIRECTOR ARE MADE BY A WRITTEN NOTICE TO THE NOMINATING COMMITTEE AND MUST BE ENDORSED BY NOT LESS THAN TWO (2) MEMBERS AND DELIVERED AT LEAST SIXTY (60) DAYS BEFORE THE ELECTION. ALL NOMINATIONS SO MADE BY MEMBERS ARE PRESENTED TO THE MEMBERSHIP FOR CONSIDERATION. NEW BYLAWS MAY BE ADOPTED, OR THE EXISTING BYLAWS MAY BE AMENDED OR REPEALED, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES REPRESENTED. VOTING OCCURS BY PROXY OR IN PERSON AT A DULY HELD MEETING OF MEMBERS AT WHICH A QUORUM IS PRESENT. FORM 990, PART VI, SECTION A, LINE 7A PER OFN'S BYLAWS, THERE IS ONE CLASS OF MEMBERSHIP AVAILABLE TO PRIVATE, NON-GOVERNMENTAL, MISSION-DRIVEN FINANCIAL INSTITUTIONS THAT MEET THE QUALIFICATIONS FOR MEMBERSHIP. EACH MEMBER IS ENTITLED TO BE REPRESENTED AT ANY MEETING OF THE MEMBERS BY UP TO TWO DELEGATES, WHO SHALL BE EITHER AN EMPLOYEE OF OR A BOARD MEMBER OF THE MEMBER. THE PRESENCE IN PERSON OF DELEGATES REPRESENTING AT LEAST ONE-THIRD OF THE MEMBERS CONSTITUTES A QUORUM FOR THE TRANSACTION OF BUSINESS. WHEN A QUORUM IS PRESENT AT ANY MEETING, THE MAJORITY OF THE VOTES PRESENT DECIDES ANY QUESTION BROUGHT BEFORE THE MEETING. EACH MEMBER IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. ALL VOTING, EXCEPT ELECTIONS FOR DIRECTORS WHICH IS BY WRITTEN OR PROXY BALLOT, MAY BE BY VOICE VOTE OR BALLOT. AT LEAST TWO-THIRDS OF THE DIRECTORS ARE ELECTED BY THE MEMBERS. UP TO ONE-THIRD OF THE DIRECTORS ARE APPOINTMENT BY THE BOARD OF DIRECTORS. NOMINATIONS FOR CANDIDATES FOR DIRECTOR ARE MADE BY A WRITTEN NOTICE TO THE NOMINATING COMMITTEE AND MUST BE ENDORSED BY NOT LESS THAN TWO (2) MEMBERS AND DELIVERED AT LEAST SIXTY (60) DAYS BEFORE THE ELECTION. ALL NOMINATIONS SO MADE BY MEMBERS ARE PRESENTED TO THE MEMBERSHIP FOR CONSIDERATION. NEW BYLAWS MAY BE ADOPTED, OR THE EXISTING BYLAWS MAY BE AMENDED OR REPEALED, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES REPRESENTED. VOTING OCCURS BY PROXY OR IN PERSON AT A DULY HELD MEETING OF MEMBERS AT WHICH A QUORUM IS PRESENT. FORM 990, PART VI, SECTION A, LINE 7B PER OFN'S BYLAWS, THERE IS ONE CLASS OF MEMBERSHIP AVAILABLE TO PRIVATE, NON-GOVERNMENTAL, MISSION-DRIVEN FINANCIAL INSTITUTIONS THAT MEET THE QUALIFICATIONS FOR MEMBERSHIP. EACH MEMBER IS ENTITLED TO BE REPRESENTED AT ANY MEETING OF THE MEMBERS BY UP TO TWO DELEGATES, WHO SHALL BE EITHER AN EMPLOYEE OF OR A BOARD MEMBER OF THE MEMBER. THE PRESENCE IN PERSON OF DELEGATES REPRESENTING AT LEAST ONE-THIRD OF THE MEMBERS CONSTITUTES A QUORUM FOR THE TRANSACTION OF BUSINESS. WHEN A QUORUM IS PRESENT AT ANY MEETING, THE MAJORITY OF THE VOTES PRESENT DECIDES ANY QUESTION BROUGHT BEFORE THE MEETING. EACH MEMBER IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. ALL VOTING, EXCEPT ELECTIONS FOR DIRECTORS WHICH IS BY WRITTEN OR PROXY BALLOT, MAY BE BY VOICE VOTE OR BALLOT. AT LEAST TWO-THIRDS OF THE DIRECTORS ARE ELECTED BY THE MEMBERS. UP TO ONE-THIRD OF THE DIRECTORS ARE APPOINTMENT BY THE BOARD OF DIRECTORS. NOMINATIONS FOR CANDIDATES FOR DIRECTOR ARE MADE BY A WRITTEN NOTICE TO THE NOMINATING COMMITTEE AND MUST BE ENDORSED BY NOT LESS THAN TWO (2) MEMBERS AND DELIVERED AT LEAST SIXTY (60) DAYS BEFORE THE ELECTION. ALL NOMINATIONS SO MADE BY MEMBERS ARE PRESENTED TO THE MEMBERSHIP FOR CONSIDERATION. NEW BYLAWS MAY BE ADOPTED, OR THE EXISTING BYLAWS MAY BE AMENDED OR REPEALED, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES REPRESENTED. VOTING OCCURS BY PROXY OR IN PERSON AT A DULY HELD MEETING OF MEMBERS AT WHICH A QUORUM IS PRESENT. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING THE FORM 990, THE CHIEF FINANCIAL OFFICER AND THE VP, ACCOUNTING REVIEW THE FORM FOR ACCURACY AND THEN FORWARD IT TO THE PRESIDENT & CEO FOR REVIEW. IN ADDITION, THE ORGANIZATION SENDS AN ELECTRONIC COPY OF THE FORM 990 TO ITS BOARD OF DIRECTORS. THIS IS PRIMARILY FOR INFORMATIONAL PURPOSES AND TO ALLOW FOR COMMENTS FROM THE BOARD, BUT DOES NOT REQUIRE ACTION FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE BOARD OF DIRECTORS SIGNS A POTENTIAL CONFLICT OF INTEREST STATEMENT WHICH STATES THAT THEY DO NOT HAVE A POTENTIAL CONFLICT OF INTEREST AS COVERED BY THE OPPORTUNITY FINANCE NETWORK'S CONFLICT OF INTEREST POLICY. IF THE BOARD MEMBER (OR ANY RELATED PARTY) IS INVOLVED IN TRANSACTIONS WITH OFN INCLUDING BUT NOT LIMITED TO LOAN AND GRANT APPLICATIONS TO OFN, AND CONSULTING CONTRACTS WITH OFN, THE BOARD MEMBER DISCLOSES THIS IN A SEPARATE STATEMENT. ALL STAFF ALSO MUST ADHERE TO OFN'S CONFLICT OF INTEREST POLICIES AND REPORT POTENTIAL CONFLICTS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT & CEO IS GOVERNED BY AN EXECUTIVE EMPLOYMENT AGREEMENT AND DETERMINED THROUGH AN ANNUAL PERFORMANCE REVIEW. OFN'S BOARD CHAIR MANAGES THIS PROCESS BY REVIEWING THE PRESIDENT & CEO'S PERFORMANCE AGAINST SET GOALS. THEY USE A DOCUMENTED PROCESS OF SELF-ASSESSMENT AND PERFORMANCE REVIEW. THESE RESULTS ARE DOCUMENTED FOR THE RECORDS. OFN SENIOR OFFICERS AND ALL KEY EMPLOYEES UNDERGO AN ANNUAL PERFORMANCE MANAGEMENT REVIEW PROCESS, IN WHICH ANNUAL COMPENSATION IS ALSO REVIEWED. OFN UNDERTAKES A REGULAR EXTERNAL MARKET COMPENSATION STUDY FOR ALL KEY STAFF POSITIONS, WHICH SERVES AS A FOUNDATION BENCHMARK FOR DETERMINING APPROPRIATE STAFF COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL OF LEASE -150,000. NCCA GENERAL PARTNER LLC 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 113704951 OPERATE AS A GENERAL PARTNER OF CDFI TAX CREDIT FUND, LP, OPPORTUNITY FUND I DE 46041 145799 OPPORTUNITY FINANCE NETWORK OFN GP LLC 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 205189202 OPERATE AS A GENERAL PARTNER OF COMMUNITIES AT WORK FUND, LP DE 0 0 OPPORTUNITY FINANCE NETWORK CDFI COMMUNITY INVESTMENT FUND I LLC 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 352579326 INVESTMENT IN OTHER CDFI ENTITIES DE OPPORTUNITY FINANCE NETWORK EXCLUDED 10132 505791 0 1 0.09090 GOOD TO GROW CDFI INVESTMENT FUND LLC 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 364907491 INVESTMENT IN OTHER CDFI ENTITIES DE OPPORTUNITY FINANCE NETWORK EXCLUDED 15148 1132068 0 1 0.05000 OPPORTUNITY MORTGAGE NETWORK 123 S BROAD STREET SUITE 1930 PHILADELPHIA PA 19109 208920619 INACTIVE PA OPPORTUNITY FINANCE NETWORK C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 GOOD TO GROW CDFI INVESTMENT FUND LLC B 975000 FMV