2019-11-15T16:25:13-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 1966 GREENSPRING DRIVE SUITE 300 TIMONIUM MD 210934161 990 2018-01-01 522063496 CHARTER SCHOOLS DEVELOPMENT CORPORATION CHAR 4435611280 7880 MILESTONE PARKWAY NO 425 HANOVER MD 21076 MICHELLE LIBERATI EXECUTIVE VICE PRESIDENT 4435611280 2019-11-15 1 LAUREN BALLARD CPA P01451787 4104530900 2019-11-15 67.137.57.251 2019-11-15 11:14:21 ES P 006DA25DC32C2723A1CCCA87B18674C9F00E3BB9 9434206CF9E616DFA6493511BABFC6F852C175E8 2018 2020-03-31 21:24:44Z X AL DUBIN 7880 MILESTONE PARKWAY NO 425 HANOVER MD 21076 11420751 0 X WWW.CSDC.ORG X 1997 DC FINANCING AND BUILING GREAT PUBLIC CHARTER SCHOOLS. 7 7 12 0 0 0 1578908 6775816 3877735 4453488 1164185 191447 0 0 6620828 11420751 0 12787 0 0 2183983 2458462 0 0 0 4298845 4339830 6482828 6811079 138000 4609672 86908427 93242167 47008108 48732176 39900319 44509991 CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS. 0 0 4939732 12787 4453488 PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS. 4939732 1 1 0 0 0 0 0 0 0 0 1 0 0 1 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 1 0 0 1 20 0 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 0 0 MD X MICHELLE LIBERATI 4435611280 7880 MILESTONE PARKWAY NO 425 HANOVER MD 21076 TOM NIDA CHAIR 2.00 2.00 X X 3350 0 0 EMBER REICHGOTT JUNGE VICE CHAIR 2.00 2.00 X X 3375 0 0 JIM GOENNER DIRECTOR 2.00 2.00 X 2375 0 0 MICHAEL CURRAN DIRECTOR 2.00 2.00 X 2625 0 0 JAY HROMATKA DIRECTOR 2.00 2.00 X 3000 0 0 ANGEL RICH DIRECTOR 2.00 2.00 X 2100 0 0 GREG MCKENNA DIRECTOR 2.00 2.00 X 800 0 0 AL DUBIN PRESIDENT/CEO 40.00 0.00 X 516008 0 13659 LAURA FIEMANN SENIOR VICE PRESIDENT 40.00 0.00 X 258300 0 42344 ANETTE HIGH FINANCIAL CONTROLLER 40.00 0.00 X 142999 0 36079 MICHELLE LIBERATI EXECUTIVE VICE PRESIDENT 40.00 0.00 X 231000 0 29664 REBECCA SECREST SENIOR VICE PRESIDENT 40.00 0.00 X 173250 0 22102 MARK ZEIZEL VICE PRESIDENT 40.00 0.00 X 163541 0 31052 ASHLEY BROWN PROGRAM MANAGER 40.00 0.00 X 135108 0 29931 1637831 0 204831 7 0 1 0 0 1669816 5000000 106000 6775816 RENTAL INCOME 900099 2336069 2336069 INTEREST INCOME - CDFI 900099 1703249 1703249 DEVELOPER'S FEES 900099 255900 255900 CREDIT ENHANCEMENT FEES 900099 81250 81250 LOAN ORIGINATION FEE INCOME 900099 77020 77020 4453488 172624 172624 18823 0 18823 18823 18823 11420751 4453488 0 191447 12787 12787 1680123 1059133 620990 505129 230733 274396 48009 13644 34365 120515 58506 62009 104686 60315 44371 22321 17857 4464 80732 64586 16146 64379 25178 39201 15866 5553 10313 74768 27883 46885 40634 14222 26412 1177868 595307 582561 144893 107314 37579 2234177 2234177 301461 298446 3015 70793 24778 46015 LOAN LOSSES 70000 70000 FEES 31118 18520 12598 DUES AND SUBSCRIPTIONS 8555 8555 2265 793 1472 6811079 4939732 1871347 0 25188244 25267714 15185572 19462605 880040 737004 32434265 34215687 208706 34741 10916744 2077566 8794675 8839178 4216925 4685238 86908427 93242167 570740 574368 206339 174589 43491187 45004552 2393033 2687425 346809 291242 47008108 48732176 X 6803737 6975181 33096582 37534810 39900319 44509991 86908427 93242167 4609672 0 X 0 1 X 1 1 1 X 220159 2311142 7700034 1578908 6775816 18586059 4442811 5877939 3775392 4918344 4453488 23467974 4662970 8189081 11475426 6497252 11229304 42054033 0 2536935 2791245 1883290 1061796 2118139 10391405 2536935 2791245 1883290 1061796 2118139 10391405 31662628 78313 104575 123576 172624 479088 78313 104575 123576 172624 479088 4662970 8267394 11580001 6620828 11401928 42533121 0.74440 0.75280 0.01130 0.01520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1095600 1095600 9602499 1907170 7695329 213813 168060 45753 4832 2336 2496 8839178 DEVELOPER FEES RECEIVABLE 169734 INVESTMENT IN/DUE FROM SUBSIDIARIES 4514891 DEPOSITS 613 4685238 SECURITY DEPOSITS HELD 165210 PREPAID RENT 126032 291242 X PART X, LINE 2: THE CORPORATION HAS DETERMINED THAT IT DOES NOT CURRENTLY HAVE ANY TAX POSITIONS THAT IT CONSIDERS TO BE UNCERTAIN. IF THIS POSITION CHANGES, THE CORPORATION WILL ASSESS THE IMPACT OF ANY SUCH MATTERS ON ITS FINANCIAL POSITION AND RESULTS OF OPERATIONS. 1 CENTER FOR EDUCATION REFORM 1455 PENNSYLVANIA AVENUE NW WASHINGTON DC 20004 521847187 501(C)(3) 10000 0 N/A N/A GENERAL SUPPORT 1 0 1 X X 0 0 0 0 0 0 0 0 0 AL DUBIN PRESIDENT/CEO 516008 0 0 0 0 0 13131 0 528 0 529667 0 0 0 LAURA FIEMANN SENIOR VICE PRESIDENT 258300 0 0 0 0 0 20656 0 21688 0 300644 0 0 0 ANETTE HIGH FINANCIAL CONTROLLER 142999 0 0 0 0 0 11436 0 24643 0 179078 0 0 0 MICHELLE LIBERATI EXECUTIVE VICE PRESIDENT 231000 0 0 0 0 0 12000 0 17664 0 260664 0 0 0 REBECCA SECREST SENIOR VICE PRESIDENT 173250 0 0 0 0 0 13860 0 8242 0 195352 0 0 0 MARK ZEIZEL VICE PRESIDENT 163541 0 0 0 0 0 11100 0 19952 0 194593 0 0 0 ASHLEY BROWN PROGRAM MANAGER 135108 0 0 0 0 0 11490 0 18441 0 165039 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO AND THE EXECUTIVE VICE PRESIDENT BOTH REVIEW AND APPROVE THE FORM 990 BEFORE IT IS FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY FOR STAFF, OFFICERS AND BOARD OF DIRECTORS ARE SET FORTH IN ITS BYLAWS AND EMPLOYEE HANDBOOK. STAFF, OFFICERS AND BOARD OF DIRECTORS ARE REQUIRED TO REPORT ANY CONFLICT OF INTEREST. THE EXECUTIVE VICE PRESIDENT MAINTAINS A FILE OF ALL SUCH WRITTEN REPORTS. NO DIRECTOR OR OFFICER SHALL PARTICIPATE IN OR BE PRESENT AT ANY VOTE OF THE BOARD OR ANY COMMITTEE ON ANY QUESTION, ISSUE, DECISION OR TRANSACTION IN WHICH THE DIRECTOR, OR ANY BUSINESS ASSOCIATE OR FAMILY MEMBER OF SUCH DIRECTOR OR OFFICER, HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST. A DIRECTOR OR OFFICER, AFTER FULLY DISCLOSING TO THE BOARD OR THE COMMITTEE ALL FACTS MATERIAL TO HIS OR HER INTERESTS AND UPON UNANIMOUS CONSENT OF THE BOARD OR COMMITTEE, MAY PARTICIPATE IN ANY DISCUSSION OR DELIBERATION OF ANY QUESTION, ISSUE, DECISION OR TRANSACTION IN WHICH THE DIRECTOR OR OFFICER, OR ANY BUSINESS ASSOCIATE OR FAMILY MEMBER OF SUCH DIRECTOR OR OFFICER, HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE PRESIDENT AND CEO, OTHER MANAGEMENT PERSONNEL AND KEY EMPLOYEES INCLUDES AN ANALYSIS OF COMPARABLE DATA FOR SIMILAR SIZED NON-PROFIT ORGANIZATIONS WORKING IN THE SAME GENERAL FIELD OBTAINED VIA A SALARY SURVEY OF WASHINGTON, D.C. BASED NONPROFITS AND A PUBLIC RECORDS SEARCH OF FORM 990S. COMPENSATION OF EXECUTIVE STAFF IS DETERMINED BASED ON THIS COMPARABLE DATA, PREVIOUS LEVEL OF APPLICABLE WORK EXPERIENCE AND ANNUAL PERFORMANCE REVIEWS. ONLY THE PRESIDENT AND CEO'S COMPENSATION IS SUBJECT TO BOARD APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 AT ITS OFFICES, THE ORGANIZATION KEEPS COPIES OF ITS GOVERNING DOCUMENTS AND FORMS 990 AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. CROSSROADS MASTER TENANT LLC 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 300958764 REAL ESTATE AND LOAN FINANCING DE 880389 7030528 CHARTER SCHOOLS DEVELOPMENT CORPORATION MCCURDY MASTER TENANT LLC 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 384006935 REAL ESTATE AND LOAN FINANCING DE 874004 5913986 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC FACILITIES CORPORATION 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 300142162 FINANCING, DEVELOPMENT AND MANAGEMENT OF CHARTER SCHOOL FACILITIES DC 501(C)(3) LINE 12B, II CHARTER SCHOOLS DEVELOPMENT CORPORATION 1 CSDC PROPERTY CORPORATION 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 272503955 FOSTER THE COMMON GOOD AND GENERAL WELFARE OF THE AMERICAN PUBLIC AZ 501(C)(4) CHARTER SCHOOLS DEVELOPMENT CORPORATION 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CSDC PROPERTY CORP C 1469816 CASH CSDC FACILITIES CORP C 200000 CASH