2020-08-12T09:05:18-05:00 2019-12-31 521480805 COUNCILOR BUCHANAN & MITCHELL PC 7910 WOODMONT AVE STE 500 BETHESDA MD 20814 990 2019-01-01 521290127 CAPITAL IMPACT PARTNERS CAPI 7036472300 1400 CRYSTAL DRIVE 500 ARLINGTON VA 22202 NATALIE GUNN CHIEF FINANCIAL/ADMIN OFFICER 7036472360 2020-08-04 1 JOSEPH F WILSON JR P00049429 3019860600 2020-08-04 108.31.200.98 2020-08-04 16:29:25 ED P 9EB6C7ABDF90341FC865DF237D0CFEE310B22885 9EB6C7ABDF90341FC865DF237D0CFEE310B22885 2019 2020-09-22 18:59:49Z NATALIE GUNN 1400 CRYSTAL DRIVE 500 ARLINGTON VA 22202 36718151 0 X WWW.CAPITALIMPACT.ORG X 1982 DC SEE SCHEDULE O PAGE 44 11 11 110 0 0 0 16576230 4687574 25750330 25105067 2121052 3770258 6943 107678 44454555 33670577 1174373 2209117 0 0 12901801 13067452 0 0 899202 17888705 20157863 31964879 35434432 12489676 -1763855 532644184 595737995 397751805 461414591 134892379 134323404 X SEE SCHEDULE 'O' PAGE 44 0 0 -171579 4175987 AFFORDABLE HOUSINGCAPITAL IMPACT PARTNERS BRIDGES THE GAP BETWEEN POLICY AND DEVELOPMENT TO IMPROVE THE LIVES OF LOW-INCOME INDIVIDUALS. CAPITAL IMPACT PARTNERS' EFFORTS IN AFFORDABLE HOMEOWNERSHIP ARE TO BUILD CAPACITY AND SCALE FOR LONG-TERM AFFORDABLE HOUSING. IN 2019, CAPITAL IMPACT PARTNERS DISBURSED APPROXIMATELY $81.4 MILLION TO AID IN THE RENOVATION OR NEW CONSTRUCTION OF 14 HOUSING COMPLEXES, CREATING 1,313 UNITS OF HOUSING, APPROXIMATELY EIGHTY-FIVE PERCENT OF WHICH WERE AFFORDABLE. ADDITIONALLY, CAPITAL IMPACT PARTNERS CONTINUED, IN PARTNERSHIP WITH INVEST DETROIT, THE STAY MIDTOWN PROGRAM, WHICH IS A RESIDENTIAL RETENTION PROGRAM THAT PROVIDES RENTAL SUBSIDIES TO CURRENT RESIDENTS WHO EARN BETWEEN 30-80 PERCENT OF AREA MEDIAN INCOME. AS OF 2019, THE STAY MIDTOWN HAS ENROLLED 148 ELIGIBLE HOUSEHOLDS, HELPING THEM AVOID DISPLACEMENT AND RETAIN AFFORDABLE RENTAL UNITS IN THE MIDTOWN DETROIT AREA. -50500 40000 3266649 HEALTHCARE:CAPITAL IMPACT PARTNERS HAS CREATED INNOVATIVE SOLUTIONS TO SUCCESSFULLY PRESERVE AFFORDABLE HEALTH CARE FOR LOW INCOME FAMILIES ACROSS THE COUNTRY. DEDICATED TO DELIVERING VALUE-ADDED SERVICE AND EASE OF PROCESS, WE TAP OUR OVER 30 YEARS OF EXPERIENCE IN THE MARKET TO CUSTOMIZE APPROPRIATELY STRUCTURED FINANCING FOR OUR BORROWERS: COMMUNITY CLINICS AND HEALTH CENTERS, SUBSTANCE ABUSE REHABILITATION/BEHAVORIAL CARE FACILITIES, ADULT DAY HEALTH CARE FACILITIES, AND ASSISTED LIVING/CONTINUING CARE FACILITIES. IN 2019, CAPITAL IMPACT PARTNERS DISBURSED APPROXIMATELY $19.9 MILLION TO 7 HEALTH FACILITIES THAT SERVE NEARLY 177,000 PATIENTS ANNUALLY. SIXTY-SIX PERCENT OF PATIENTS LIVE AT OR BELOW 200% OF THE FEDERAL POVERTY LINE. -50415 4380856 EDUCATION:CAPITAL IMPACT PARTNERS HAS BEEN A CHARTER SCHOOL LENDER FOR OVER 20 YEARS AND HAS BECOME A VALUABLE FINANCING SOURCE FOR OUR NATION'S CHARTER SCHOOLS. TO ENSURE THAT LOW COST CAPITAL IS AVAILABLE NATIONWIDE, CAPITAL IMPACT PARTNERS OFFERS (1) CONSTRUCTION AND RENOVATION LOANS, (2) REAL ESTATE ACQUISITION AND TERM LOANS, EQUIPMENT LOANS, AND (3) REVOLVING LINES OF CREDIT. CAPITAL IMPACT PARTNERS CONNECTS ITS BORROWERS TO INSTITUTIONAL INVESTORS TO IMPROVE THE AMOUNT AND TYPE OF FINANCING AVAILABLE. IN 2019, DISBURSEMENTS TOTALED $13.6 MILLION TO 5 CHARTER SCHOOLS THAT SERVE JUST OVER 6,000 STUDENTS, 55% OF WHOM QUALIFY FOR FREE OR REDUCED PRICE LUNCHES. CAPITAL IMPACT PARTNERS DEVELOPED OR RENOVATED MORE THAN 172,000 SQUARE FEET OF EDUCATIONAL SPACE. 504218 HEALTHY FOOD: CAPITAL IMPACT PARTNERS PROVIDES LOANS TO COMMUNITY BASED ORGANIZATIONSTHAT WILL FINANCE GROCERY STORES AND OTHER RETAIL OUTLETS TO IMPROVE THE ACCESS TO FRESH, HEALTHY FOODS IN FOOD DESERTS AND OTHER UNDERSERVED AREAS. CAPITAL IMPACT PARTNERS PROVIDED FINANCING TO 2 HEALTHY FOOD PROJECTS IN 2019 TOTALING $17.6 MILLION. THE PROJECTS ARE EXPECTED TO CREATE/RETAIN NEARLY 1,037 JOBS AND WILL PROVIDE FRESH, HEALTHY FOOD ACCESS TO 92,430 LOW-AND MODERATE-INCOME PEOPLE. THE FINANCING IS FOCUSED TO DEVELOP AND EXPAND GROCERY STORES AND DEVELOP AN INCLUSIVE FOOD SYSTEM IN UNDERSERVED COMMUNITIES.CAPITAL IMPACT PARTNERS MANAGES THE MICHIGAN GOOD FOOD FUND (MGFF), WHICH IS DESIGNED TO PROVIDE CAPITAL AND CAPACITY TO FUEL A MORE INCLUSIVE FOOD SYSTEM. THE GOALS OF THIS INITIATIVE INCLUDE: EXPANDING ACCESS TO HEALTHY, AFFORDABLE FOOD; ADVANCING RACIAL AND SOCIAL EQUITY IN FOOD SYSTEMS; PROMOTING LOCAL SOURCING; AND SUPPORTING ENVIRONMENTAL STEWARDSHIP. AS OF 2019, MGFF HAS SUPPORTED 240 MISSION-ALIGNED BUSINESSES BY PROVIDING TECHNICAL ASSISTANCE (TA)TO 220 RECIPIENTS, 29 CATALYTIC INVESTMENTS, 46 TA FINANCIAL ASSISTANCE AWARDEES, AND 32 LOANS THROUGH INTERMEDIARY ORGANIZATIONS. 100 PERCENT OF THESE BUSINESSES OFFER HEALTHY FOOD, 59 PERCENT ARE WOMEN-OWNED, AND 50 PERCENT ARE OWNED BY PEOPLE OF COLOR 2016778 2000000 ENTREPRENEURS OF COLOR FUNDIN 2018, CAPITAL IMPACT PARTNERS RECEIVED $3.3 MILLION IN GRANT FUNDING FROM JPMORGAN CHASE TO MANAGE THE DC-AREA ENTREPRENEURS OF COLOR FUND (EOCF), ALLOWING CAPITAL IMPACT PARTNERS TO PARTNER WITH WACIF AND LEDC, DC-AREA COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS), TO PROVIDE CAPITAL AND CAPACITY BUILDING TO MINORITY ENTREPRENEURS IN THE REGION. AS OF 2019, THE PARTNER ORGANIZATIONS HAVE DISBURSED OVER $2 MILLION, ASSISTING NEARLY 600 SMALL BUSINESSES. 375483 169118 EQUITABLE DEVELOPMENT INITIATIVETHE EQUITABLE DEVELOPMENT INITIATIVE (EDI) COMBINES CAPITAL IMPACT PARTNERS'ROLE AS A PROVIDER OF CATALYTIC CAPITAL AND ITS DEVELOPMENT EXPERTISE INTO A PROGRAM THAT SUPPORTS LOCAL MINORITY DEVELOPERS WITH FORMALIZED TECHNICAL ASSISTANCE AND DEVELOPMENT FINANCING. THE PROGRAM AIMS TO ENSURE MINORITY DEVELOPERS ARE ABLE TO PARTICIPATE IN REVITALIZATION EFFORTS, INCREASE PARTICIPANTS' KNOWLEDGE OF THE REAL ESTATE DEVELOPMENT PROCESS, AND RETAIN MINORITY DEVELOPERS WHO ARE LIKELY TO CONTINUE TO INVEST IN REAL ESTATE PROJECTS. AS OF 2019, THE DETROIT PROGRAM HAS GRADUATED 47 PARTICIPANTS, AND THE DMV PROGRAM BEGAN WITH 34 PARTICIPANTS. 73200 2189905 NEW MARKET TAX CREDITSCAPITAL IMPACT PARTNERS HAS RECEIVED EIGHT ALLOCATIONS OF NEW MARKETS TAXCREDITS (NMTC) AND HAS ALLOCATED $589 MILLION TO PROVIDE HEALTH CARE PROVIDERS, HEALTHY FOOD GROCERY STORES, CHARTER SCHOOLS, AND OTHER COMMUNITY ORGANIZATIONS AFFORDABLE FINANCING NATIONWIDE. NMTC ALLOWS CAPITAL IMPACT PARTNERS TO OFFER BORROWERS MORE FLEXIBLE TERMS SUCH AS LONGER AMORTIZATION PERIODS, INTEREST-ONLY PAYMENTS FOR AS LONG AS SEVEN YEARS, HIGHER LOAN-TO-VALUE RATIOS AND POTENTIAL EQUITY BENEFIT AT THE END OF THE LOAN TERM. 21932703 10811843 GENERAL LOAN PROGRAM:CAPITAL IMPACT PARTNERS PROVIDES LOANS AND FINANCIAL SERVICES TO COMMUNITY-BASED ORGANIZATIONS FOCUSED ON PROVIDING GOODS AND SERVICES TO LOW INCOME AND ECONOMICALLY DISADVANTAGED POPULATIONS. 24398164 2169118 13505966 24125670 1 1 0 1 0 0 0 0 0 1 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 112 0 1 110 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 CA DE X NATALIE GUNN CO CAPITAL IMPACT PARTNERS 7036472360 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 JENNIFER SMITH DOLIN DIRECTOR 0.65 X 1000 0 0 PEDRO GOITIA DIRECTOR 0.65 X 3000 0 0 ELI KENNEDY DIRECTOR 0.65 X 3000 0 0 MARY ANN ROTHMAN DIRECTOR 0.65 X 1000 0 0 DAN VARNER DIRECTOR 0.65 X 4000 0 0 PAUL HAZEN DIRECTOR 0.65 X 2000 0 0 WILSON BEEBEJR DIRECTOR 0.65 X 2000 0 0 ALAINA BEVERLY DIRECTOR 0.65 X 4000 0 0 CASEY FANNON DIRECTOR 0.65 X 2000 0 0 DOMINGO RODRIGUEZ DIRECTOR 0.65 X 2000 0 0 DAVID VLIET DIRECTOR 0.65 X 2000 0 0 GAIL MARKULIN DIRECTOR 0.65 X 4000 0 0 ELLIS CARR PRESIDENT & CEO 40.00 X 483918 0 33115 CAROLYN K BAUER CHIEF RISK OFFICER 40.00 X 289166 0 25177 DIANE BORRADAILE CHIEF LENDING OFFICER 40.00 X 312055 0 30933 AMY SUE LEAVENS GENERAL COUNSEL AND CHIEF 40.00 X 309333 0 24349 NATALIE GUNN CHIEF FINANCIAL/ADMINISTRA 40.00 X 355075 0 31847 SCOTT BERMAN DEPT. DIRECTOR 40.00 X 221556 0 25860 THEODORE SILVA DEPT. DIRECTOR 40.00 X 195725 0 26110 DANIELLE GRACEFFA DEPT. DIRECTOR 40.00 X 198050 0 29207 LISA GRAMMER CONTROLLER 40.00 X 202373 0 26596 2597251 0 253194 42 0 1 0 COHNREZNICK LLP 500 EAST PRATT STREET SUITE 200 BALTIMORE MD 212023177 CONSULTING- TAX AND AUDIT 431069 PILLSBURY WINTHROP SHAW 2300 N ST NW WASHINGTON DC 200371122 LEGAL SERVICE FEE 419942 NEXT STREET FINANCIAL LLC 75 BRIAD STREET SUITE 702 NEW YORK NY 10004 BUSINESS ADVISORY SERVICE 387729 RSM US LLP 751 ARBOR WAY SUITE 200 BLUE BELL PA 19422 CONSULTING SERVICE AUDIT 271575 MARK WILLIAM HILTZ DBA -MARK HILTZ ASSO 5412 LEATHERLEAF DRIVE NORTH MYRTLE BEACH SC 29582 CONSULTING SERRVICE -RISK MGMT 207943 9 4687574 4687574 INTEREST EARNED ON LOANS 900099 21099458 21099458 LOAN FEES 900099 4005609 4005609 25105067 3653545 3653545 3164287 3047574 116713 116713 116713 OTHER INCOME 900099 107678 107678 107678 33670577 25329458 0 3653545 2209117 2209117 1924968 1506562 155663 262743 8703920 3773666 4893893 36361 692163 299482 389545 3136 985869 482280 477443 26146 760532 373670 366519 20343 416409 70372 301052 44985 329063 55611 237903 35549 222419 222419 2192214 933962 1094679 163573 571049 199785 317228 54036 570801 323295 212674 34832 1068817 544790 462679 61348 409478 235949 150970 22559 10975588 10975588 336163 103300 232863 203551 2130 175236 26185 PROVISION FOR LOAN LOSS 1631866 1631866 CORPORATE DEVELOPMENT 741475 47430 603819 90226 LOAN FEES 301763 301763 TRAINING 187207 55052 114975 17180 35434432 24125670 10409560 899202 84244812 65665231 7900000 1925000 2782611 2784260 368282496 392030625 2554091 1086583 1635459 1467508 1805233 1715162 64645958 114099902 1347615 16050307 532644184 595737995 4054706 2718969 387010697 438241585 6686402 20454037 397751805 461414591 X 105175355 106877719 29717024 27445685 134892379 134323404 532644184 595737995 X -1763855 1387908 -193028 X X 0 1 X 1 1 1 X 3693789 8411739 1014600 16576230 4687574 34383932 3693789 8411739 1014600 16576230 4687574 34383932 9410560 24973372 172179 267059 1047881 2171959 3653545 7312623 343958 611024 303534 6943 107768 1373227 43069782 105480426 0.57980 0.59000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 27653 27279 18100 0 73032 250000 250000 250000 250000 1000000 1500000 29717024 4437574 249945 6958858 27445685 18292459 16576230 152650 5304315 29717024 24757094 1014600 56863 7536098 18292459 26584653 8411739 72233 10311531 24757094 52984965 3693789 10987 30105088 26584653 1.00000 0 0 1587663 435969 1151694 294051 219953 74098 672377 430661 241716 1467508 EQUITY - FHLB ATALANTA 2486500 C INVESTMENT IN ROC USA 2991535 C NEW MARKET TAX CREDIT ENTITIES 20859 C INVESTMENT IN CSFP 251146 C MORTGAGE BACKED AND US TREASURY SECURITIES 69466573 F OTHER INVESTMENTS 281803 F INVESTMENT IN CIIF 5085416 C INVESTMENT IN CIIF II 2557249 C INNOVATION INVESTMENT PORTFOLIO 975997 C WORKFORCE AFFORDABLE HOUSING FUND 1, LLC 29982824 C 114099902 REFUNDABLE ADVANCE LIABILITY 7245759 LEASE LIABILITIES 13208278 20454037 X 35722283 1387908 1136217 2524125 33198158 472419 472419 33670577 34974719 12706 12706 34962013 472419 472419 35434432 PART V, LINE 4: NET ASSETS WITH DONOR RESTRICTIONS ARE USED FOR CIP'S PROGRAMS, INCLUDING A REVOLVING LOAN FUND TO FINANCE DEVELOPMENT AND EXPANSION OF SMALL BUSINESSES. AS OF MARCH 18, 2018, THE DONOR REPURPOSED THIS FUND TO FINANCE INVESTMENTS OR PROVIDE COMMUNITY SUPPORT BENEFITTING VULNERABLE POPULATIONS. PART X, LINE 2: UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, CIP IS EXEMPT FROM INCOME TAXES ON INCOME OTHER THAN NET UNRELATED BUSINESS INCOME. CIP DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31,2019. CIP HAS ADOPTED THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN ASC TOPIC INCOME TAXES. THESE PROVISIONS PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. MANAGEMENT EVALUATED CIP'S TAX POSITION AND CONCLUDED THAT CIP HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. CONSEQUENTLY, NO ACCRUAL FOR FEDERAL OR STATE TAX LIABILITY FOR INTEREST AND PENALTIES WAS DEEMED NECESSARY FOR THE YEAR ENDED DECEMBER 31, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN EQUITY METHOD INVESTMENTS -181,184. INCOME FROM CONSOLIDATED SUBSIDIARIES 1,329,245. NEW MARKET TAX CREDIT UNWIND -11,844. PART XI, LINE 4B - OTHER ADJUSTMENTS: REIMBURSEMENT OF GRANT FUNDS NETTED WITH GRANT EXPENSE 250,000. INVESTMENT FEES NETTED WITH INVESTMENT INCOME ON AUDIT 222,419. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES RELATED TO CONSOLIDATED SUBSIDIARIES 12,706. PART XII, LINE 4B - OTHER ADJUSTMENTS: REIMBURSEMENT OF GRANT FUNDS NETTED WITH GRANT EXPENSES 250,000. INVESTMENT FEES NETTED WITH INVESTMENT INCOME ON AUDIT 222,419. 1 CARE STRATEGIES 1970 BRUNSWICK AVENUE STE100 LAWRENCEVILLE NJ 08648 273422249 10000 NJ ALP EVALUATION GERIATRIC LIVING SOLUTIONS INCDBA-PORTABLE ASSISTED 300 TEANECK ROAD TEANECK NJ 07666 046513779 501(C)(3) 10000 NJ ALP EVALUATION EDI GRANT AWARD LATINO ECONOMIC DEVELOPMENT CENTER 641 S STREET NW WASHINGTON DC 20001 521749216 501(C)(3) 1000000 ENTREPRENEURS OF COLOR FUND MIDTOWN DETROIT INC 3939 WOODWARD AVE SUITE 100 DETROIT MI 48201 382134035 501(C)(3) 125000 GRANT FOR MIDTOWN RENT SUBSIDY PROG. INSTALL 4 PUBLIC SECTOR CONSULTANTS INC 230 N WASHINGTON SQUARE SUITE 300 LANSING MI 48933 382402199 33617 SOW#1 STAY MIDTOWN PROGRAM EVALUATION PROJECT ST FRANCIS MEDICAL CENTER 601 HAMILTON AVENUE TRENTON NJ 08629 233431049 10000 NJ ALP EVALUATION WASHINGTON AREA COMMUNITY INVESTMENT FUND INC 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 541442466 501(C)(3) 1000000 JPMC ENTREPRENEURS OF COLOR FUND WATSON STREET ASSISTED LIVING PROGRAM LLC 2021 WATSON STREET CAMDEN NJ 08105 472260020 10000 NJ ALP EVALUATION 4 8 PART I, LINE 2: GRANTEES MUST REPORT ACTUAL EXPENSES FOR EACH MONTH AND SUBMIT QUARTERLY FINANCIAL REPORTS. 1 X X X 0 0 0 0 0 0 0 0 0 ELLIS CARR PRESIDENT & CEO 483918 0 0 0 0 0 33115 0 0 0 517033 0 0 0 CAROLYN K BAUER CHIEF RISK OFFICER 289166 0 0 0 0 0 25177 0 0 0 314343 0 0 0 DIANE BORRADAILE CHIEF LENDING OFFICER 312055 0 0 0 0 0 26113 0 4820 0 342988 0 0 0 AMY SUE LEAVENS GENERAL COUNSEL AND CHIEF 309333 0 0 0 0 0 24349 0 0 0 333682 0 0 0 NATALIE GUNN CHIEF FINANCIAL/ADMINISTRA 355075 0 0 0 0 0 31200 0 647 0 386922 0 0 0 SCOTT BERMAN DEPT. DIRECTOR 221556 0 0 0 0 0 23319 0 2541 0 247416 0 0 0 THEODORE SILVA DEPT. DIRECTOR 195725 0 0 0 0 0 21574 0 4536 0 221835 0 0 0 DANIELLE GRACEFFA DEPT. DIRECTOR 198050 0 0 0 0 0 21957 0 7250 0 227257 0 0 0 LISA GRAMMER CONTROLLER 202373 0 0 0 0 0 18751 0 7845 0 228969 0 0 0 SEE SCHEDULE O MEMBER SEE SCHEDULE "O" X 2283910 27203206 0 1 1 27203206 PART 1, LINE 1: DESCRIPTION OF ORGANIZATION MISSION: THROUGH CAPITAL AND COMMITMENT, CAPITAL IMPACT PARTNERS (CIP) HELPS PEOPLE BUILD COMMUNITIES OF OPPORTUNITY THAT BREAK BARRIERS TO SUCCESS. CAPITAL IMPACT PARTERNS WAS ESTABLISHED PURSUANT TO SECTION 211 OF THE NATIONAL CONSUMER COOPERATIVE BANK ACT AS AMENDED (THE "BANK ACT")(12 U.S.C.3051), AS A SECTION 501(C)(3) ORGANIZATION FORMED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, INCLUDING PURPOSES THAT ARE EXPRESSLY DEEMED CHARITABLE WITHIN THE MEANING OF SECTION 501(C)(3) UNDER SECTION 211 (C)(2) OF THE BANK ACT. ITS PRIMARY PURPOSE IS TO PROVIDE FINANCIAL SERVICES AND TECHNICAL SUPPORT TO COOPERATIVES AND OTHER DEMOCRATICALLY STRUCTURED, COOPERATIVE-LIKE ORGANIZATIONS, TARGETED TOWARD NEWER, LESS ESTABLISHED ORGANIZATIONS AND UNDERSERVED COMMUNITIES WHOSE RESIDENTS ARE DISADVANTAGED, LOW-INCOME AND/OR ELDERLY PERSONS WITH SPECIAL NEEDS. FORM 990, PART VI, SECTION A, LINE 6 YES, CIP HAS MEMBERS. THE ARTICLES OF INCORPORATION, AS AMENDED (THE "ARTICLES"). AND THE BYLAWS, AS AMENDED (THE "BYLAWS"), OF CIP, PROVIDE THAT THE MEMBERS OF THE BOARD OF DIRECTORS OF THE NATIONAL COOPERATIVE BANK SHALL SERVE, EX OFFICIO, AS THE MEMBERS OF CIP. FORM 990, PART VI, SECTION A, LINE 7A EACH OF THE MEMBERS OF CIP IS ENTITLED TO CAST ONE (1) VOTE WITH RESPECT TO ANY AMENDMENT TO CIP'S ARTICLES, AND WITH RESPECT TO ANY AMENDMENT TO, OR THE REPEAL OF, CIP'S BYLAWS. THE MEMBERS DO NOT HAVE ANY OTHER VOTING POWER AND THUS ARE NOT ENTITLED TO VOTE WITH RESPECT TO THE COMPOSITION OF THE BOARD OF DIRECTORS. THE ARTICLES AND BYLAWS PROVIDE THAT THE MEMBERS OF THE BOARD OF DIRECTORS OF CIP SHALL BE ELECTED BY THE THEN-CURRENT MEMBERS OF THE BOARD OF DIRECTORS OF CIP. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS PROVIDE THAT ANY AMENDMENT TO THE ARTICLES AND ANY AMENDMENT TO, OR THE REPEAL OF, THE BYLAWS MUST BE APPROVED BY THE AFFIRMATIVE VOTE OF AT LEAST SIX (6) OF THE ELEVEN (11) DIRECTORS. THE ARTICLES PROVIDE THAT EACH OF THE MEMBERS OF CIP IS ENTITLED TO CAST ONE (1) VOTE WITH RESPECT TO ANY AMENDMENT TO CIP'S ARTICLES, AND WITH RESPECT TO ANY AMENDMENT TO, OR THE REPEAL OF CIP'S BYLAWS. IN PARTICULAR, THE ARTICLES PROVIDE THAT ANY AMENDMENT OF THE ARTICLES MUST BE APPROVED BY THE AFFIRMATIVE VOTE OF AT LEAST TWO-THIRDS (2/3) OF THE VOTES ENTITLED TO BE CAST BY THE MEMBERS PRESENT AT A MEETING OF THE MEMBERSHIP; AND THAT ANY AMENDMENT OR REPEAL OF THE BYLAWS MUST BE APPROVED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE MEMBERS PRESENT AT A MEMBERSHIP MEETING. THE PROCEDURAL METHOD AND MANNER OF GIVING NOTICE OF MEETINGS, ESTABLISHING QUORUM AND SUBMITTING MATTERS TO A VOTE ARE SPECIFIED IN THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING AND APPROVING THE FORM 990 TO THE FINANCE, AUDIT AND RISK COMMITTEE ("AUDIT COMMITTEE") OF THE BOARD OF DIRECTORS, PURSUANT TO THE COMPANY'S BOARD-LEVEL DELEGATIONS OF AUTHORITY AND THE AUDIT COMMITTEE CHARTER. THE CHAIR OF THE AUDIT COMMITTEE REVIEWS THE FORM 990 WITH CIP'S CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER, CONTROLLER AND TAX PREPARER BEFORE IT IS SUBMITTED TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE THEN INDEPENDENTLY REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. THE CHAIR OF THE AUDIT COMMITTEE REPORTS ON THE PROCESS AND FINDINGS OF THE AUDIT COMMITTEE AT THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS AND APPROVES CIP'S CODE OF CONDUCT AND ETHICS POLICY ON AN ANNUAL BASIS; THE CODE OF CONDUCT AND ETHICS POLICY INCLUDES, AMONG OTHER THINGS, CIP'S CONFLICT OF INTEREST POLICY. THE CODE OF CONDUCT AND ETHICS POLICY IS MADE AVAILABLE TO ALL OFFICERS AND EMPLOYEES OF CIP AND ALL MEMBERS OF THE BOARD OF DIRECTORS, EACH OF WHOM IS REQUIRED TO CERTIFY AS TO MATTERS SET FORTH IN THE POLICY AND PROVIDE CONFLICTS OF INTEREST DISCLOSURES (IF ANY) ON AN ANNUAL BASIS. THE GENERAL COUNSEL/CHIEF COMPLIANCE OFFICER AND THE ETHICS OFFICIAL DESIGNATED IN THE CODE OF CONDUCT AND ETHICS POLICY JOINTLY EVALUATE ALL CONFLICTS OF WHICH THEY BECOME AWARE AND SUBMIT SUCH CONFLICTS FOR RESOLUTION TO THE BOARD'S FINANCE, AUDIT AND RISK COMMITTEE ("AUDIT COMMITTEE"). MINUTES REFLECTING ALL MEETINGS HELD AND ACTIONS TAKEN BY THE AUDIT COMMITTEE, INCLUDING WITH RESPECT TO CONFLICTS MATTERS, ARE INCLUDED IN THE CORPORATE RECORD BOOK. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING AND MAKING RECOMMENDATIONS WITH RESPECT TO EXECUTIVE COMPENSATION TO ITS EXECUTIVE COMMITTEE (THE "EXECUTIVE COMMITTEE"), PURSUANT TO THE BOARD-LEVEL DELEGATIONS OF AUTHORITY AND THE EXECUTIVE COMMITTEE CHARTER. THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION OF THE EXECUTIVE OFFICERS OF CIP; THE EXECUTIVE COMMITTEE THEN REPORTS ITS PROCESS, FINDINGS AND RECOMMENDATIONS TO THE BOARD OF DIRECTORS FOR INDEPENDENT REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS. THE PROCESS INCLUDES: MANAGING THE PROCESS OF COLLECTING AND REVIEWING MARKET DATA FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, THE CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER, THE CHIEF RISK OFFICER, THE CHIEF LENDING OFFICER, THE CHIEF STRATEGY AND INNOVATION OFFICER, THE GENERAL COUNSEL/CHIEF COMPLIANCE OFFICER AND THE TREASURER; PERIODICALLY ENGAGING INDEPENDENT CONSULTANTS TO PERFORM INDEPENDENT MARKET ANALYSIS; EVALUATING THE PERFORMANCE OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER; AND RECOMMENDING ANNUAL EXECUTIVE-LEVEL COMPENSATION AND INCENTIVES(IF ANY) TO THE BOARD OF DIRECTORS. ALL MEETINGS AND ACTIONS OF THE EXECUTIVE COMMITTEE AND THE BOARD OF DIRECTORS ARE DOCUMENTED CONCURRENTLY THEREWITH AND RECORDED IN THE MINUTES OF CIP UPON APPROVAL BY THE EXECUTIVE COMMITTEE OR THE BOARD (AS APPLICABLE). COMPENSATION DECISIONS BY THE BOARD OF DIRECTORS, THE GOVERNING BODY AUTHORIZED TO APPROVE EXECUTIVE-LEVEL COMPENSATION AND INCENTIVE ARRANGEMENTS THAT ARE RECOMMENDED BY THE EXECUTIVE COMMITTEE, ARE MADE ENTIRELY OF BOARD MEMBERS WITHOUT A CONFLICT OF INTEREST. IN SUM, CIP IS COMPLYING WITH THE OPTIONAL REBUTTABLE PRESUMPTION MECHANISM OF TREASURY REGULATION SECTION 53.4958-6. FORM 990, PART VI, SECTION C, LINE 18 THE APPLICABLE FORMS ARE AVAILABLE FOR IN-PERSON INSPECTION UPON REQUEST TO THE EXTENT AND IN THE MANNER REQUIRED BY LAW. FORM 990, PART VI, SECTION C, LINE 19 CIP MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON WRITTEN REQUEST. CIP'S ANNUAL REPORT, WHICH CONTAINS A CONDENSED VERSION OF ITS FINANCIAL STATEMENTS, IS POSTED ON ITS WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN EQUITY METHOD INVESTMENTS -181,184. LOSS ON NEW MARKET TAX CREDIT UNWIND -11,844. FORM 990, PART XII, LINE 2C: USE OF AUDIT COMMITTEE AS IN PRIOR YEARS, CIP HAS AN AUDIT COMMITTEE COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS. IT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT. SCHEDULE L TRANSACTIONS WITH INTERESTED PERSONS: IN THE NORMAL COURSE OF BUSINESS, MEMBERS OF CIP'S BOARD OF DIRECTORS MAY BE AFFILIATED WITH COOPERATIVES RECEIVING OR ELIGIBLE TO RECEIVE LOANS. CIP HAS CONFLICT OF INTEREST POLICIES, WHICH REQUIRE, AMONG OTHER THINGS, THAT A BOARD MEMBER BE DISASSOCIATED FROM DECISIONS THAT POSE A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. LOAN REQUESTS FROM COOPERATIVES WITH WHICH MEMBERS OF THE BOARD MAY BE AFFILIATED ARE SUBJECT TO THE SAME ELIGIBILITY AND CREDIT CRITERIA, AS WELL AS THE SAME LOAN TERMS AND CONDITIONS, AS ALL OTHER LOAN REQUESTS. AN ANALYSIS OF THE ACTIVITY DURING FISCAL YEAR 2019 FOR THE AGGREGATE AMOUNT OF THESE LOANS IS AS FOLLOWS: BALANCE AT DECEMBER 31, 2018 $ 27,921,290 NET CHANGE ( 718,084) ____________ BALANCE AT DECEMBER 31, 2019 $ 27,203,206 NCBCI EDUCATION CONDUIT LLC 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 261807129 COMMUNITY LENDING AND DEVELOPMENT DE N/A WOODWARD CORRIDOR INVESTMENT FUND LLC 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 471833280 COMMUNITY LENDING AND DEVELOPMENT DE N/A DETROIT NEIGHBORHOOD FUND LLC 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 471804394 COMMUNITY LENDING AND DEVELOPMENT DE 1084101 25109225 N/A FPIF LLC 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 474684786 COMMUNITY LENDING AND DEVELOPMENT DE 1376138 21962820 N/A COMMUNITY SOLUTIONS GROUP LLC 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 COMMUNITY LENDING AND DEVELOPMENT DE N/A IMPACT V CDE 5 LLC 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 261421432 DE N/A RELATED 0 1 0.00010 IMPACT V CDE 6 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