2019-05-14T14:28:36-05:00 2018-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2018-01-01 411380923 FAMILY HOUSING FUND FAMI 6123759644 310 4TH AVENUE SOUTH NO 9000 MINNEAPOLIS MN 55415 ELLEN K SAHLI PRESIDENT 6123759644 2019-05-14 1 LAWRENCE H MOHR CPA P00447603 6128764500 38.88.188.75 2019-05-14 12:13:35 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 42991B41A32A13F77B110C5B470B2D73D8292482 2018 2019-02-21 02:37:17Z ELLEN K SAHLI 310 4TH AVENUE SOUTH NO 9000 MINNEAPOLIS MN 55415 8195076 0 X WWW.FHFUND.ORG X 1980 MN TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS. 15 15 8 20 0 10571 656149 5043840 958221 1018512 24146 101095 3387918 13015 5026434 6176462 1508422 1485995 0 0 806748 909029 0 0 64075 3065805 1001913 5380975 3396937 -354541 2779525 55160440 58587534 17819609 16813829 37340831 41773705 X THE FAMILY HOUSING FUND IS A NONPROFIT INTERMEDIARY ORGANIZATION WHOSE MISSION IS TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS. 0 0 934275 176000 629079 HOMEOWNERSHIP: THE FUND'S HOME OWNERSHIP PROGRAMS WORK WITH LOCAL GOVERNMENTS, NONPROFIT ORGANIZATIONS, AND THE MORTGAGE INDUSTRY TO HELP LOW AND MODERATE-INCOME FAMILIES BECOME SUCCESSFUL HOMEOWNERS. THE FUND SUPPORTS PROGRAMS TO ASSIST FAMILIES BEFORE THEY PURCHASE THEIR HOMES, AT THE TIME OF PURCHASE, AND AFTER THE FAMILY HAS PURCHASED A HOME.THE HOME PROSPERITY FUND IS ONE OF THE FAMILY HOUSING FUNDS MOST SIGNIFICANT HOME OWNERSHIP PROGRAMS. LAUNCHED IN 2007, THE HOME PROSPERITY FUND WAS CREATED WITH $15 MILLION OF LOANS FOR STRATEGIC ACQUISITION, REHABILITATION AND PROGRAMS TO ASSIST AFFORDABLE, SUSTAINABLE HOME OWNERSHIP. INVESTORS INCLUDE MINNESOTA HOUSING FINANCE AGENCY, MCKNIGHT FOUNDATION, WELLS FARGO BANK, US BANK, POHLAD FOUNDATION AND THRIVENT FOUNDATION.THE FUND INVESTS IN COORDINATING CONSULTANTS FOR ITS TWO NEIGHBORHOOD COLLABORATIONS: THE FROGTOWN RONDO HOME FUND AND NORTHSIDE HOME FUND. THE INDEPENDENT COORDINATING CONSULTANTS HAVE PROVEN HIGHLY EFFECTIVE IN ADDING VALUE TO EXISTING NEIGHBORHOOD, CITY, AND COMMUNITY EFFORTS TO SUPPORT SAFE, VIBRANT, AND SUSTAINABLE COMMUNITIES. 233424 122650 REGIONAL INITIATIVES: THE FUND IS COMMITTED TO INCREASING REGIONAL SUPPORT FOR AFFORDABLE HOUSING AND WORKS TO EXPAND PUBLIC UNDERSTANDING OF THE VALUE OF AFFORDABLE HOUSING. AND PUBLIC WILL TO PRESERVE AND PRODUCE AFFORDABLE HOUSING IN THE CONTEXT OF A COMPREHENSIVE REGIONAL DEVELOPMENT APPROACH THAT SERVES ALL CITIZENS AND COMMUNITIES.THE FUND HAS SUPPORTED THE URBAN LAND INSTITUTE AND THE REGIONAL COUNCIL OF MAYORS REGIONAL HOUSING INITIATIVES, FINANCED STUDIES AND TOOLS TO SUPPORT THE FEASIBILITY OF MIXED INCOME PROJECTS, AND FUNDED WORK TO IDENTIFY CRITICAL OUTSTANDING ISSUES AND OPPORTUNITIES TO HELP ADVANCE THE UNDERSTANDING OF THE IMPORTANCE OF TRANSIT ORIENTED HOUSING POLICIES AND INVESTMENT DECISIONS AT STATE, LOCAL, AND REGIONAL LEVELS.BUILD AND PRESERVE - THE OVERARCHING GOAL OF THE BUILD AND PRESERVE PROGRAM AREA IS TO ENSURE A FULL RANGE OF HOUSING CHOICES ACROSS THE REGION BY INCREASING AFFORDABLE HOUSING OPPORTUNITIES. TO DO THIS, THE FUND LEADS AND COORDINATES ACTIVITIES RELATED TO THE NEW PRODUCTION AND PRESERVATION OF GOVERNMENT ASSISTED AND UNSUBSIDIZED AFFORDABLE HOUSING, IN PARTNERSHIP WITH PUBLIC AND PRIVATE PARTNERS. ACCESS & OPPORTUNITY - THE OVERARCHING GOAL OF THE ACCESS & OPPORTUNITY PROGRAM AREA IS TO IMPROVE FAMILIES' INTERACTION WITH THE AFFORDABLE HOUSING SYSTEM. TO DO THIS, THE FUND LEADS AND COORDINATES ACTIVITIES THAT ADDRESS LIMITS TO FAMILIES' CHOICE IN HOUSING, IN PARTNERSHIP WITH PUBLIC AND PRIVATE PARTNERS. 1047805 789350 338454 RENTAL: THE FUND'S RENTAL HOUSING ACTIVITIES FOCUS ON WORKING WITH PUBLIC AGENCIES, NONPROFIT ORGANIZATIONS, AND PRIVATE DEVELOPERS TO PRESERVE AND EXPAND THE SUPPLY OF AFFORDABLE RENTAL HOUSING IN THE METROPOLITAN AREA. THE FUND SUPPORTS THE DEVELOPMENT OF SEARCH TOOLS TO HELP LOW-INCOME INDIVIDUALS AND FAMILIES FIND AFFORDABLE HOUSING. IN 2018, THE FUND FOCUSED ON EFFORTS TO MAXIMIZE THE BENEFIT OF HOUSING CHOICE VOUCHERS, REDUCE THE NEGATIVE IMPACT OF EVICTION ON FAMILIES AND TO DEVELOP STRATEGIES TO PRESERVE NATURALLY OCCURRING AFFORDABLE HOUSING. 519612 397995 50979 THE FUND CONTINUES TO SERVE AS THE FISCAL SPONSOR FOR SEVERAL INITIATIVES TO END HOMELESSNESS. THE FUND MAINTAINS RESOURCES TO IDENTIFY EMERGING ISSUES THAT AFFECT THE AFFORDABLE HOUSING NETWORK AND TO HELP DEVELOP STRATEGIES TO ADDRESS THESE ISSUES. 519612 397995 50979 2735116 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 27 0 8 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X X X ELLEN K SAHLI 6123759644 310 4TH AVE SOUTH STE 9000 MINNEAPOLIS MN 55415 JIM ROTH CHAIRPERSON 4.00 X X 0 0 0 KRISTIN BECKMANN VICE PRESIDENT THROUGH 12/2018 3.00 X X 0 0 0 GEORGE STONE VICE PRESIDENT THROUGH 8/2018 3.00 X X 0 0 0 SENTA LEFF VICE PRESIDENT THROUGH 3/2018 3.00 X X 0 0 0 CHARLES HANLEY VP & TREASURER THROUGH 4/2018 3.00 X X 0 0 0 ANDRIANA ABARIOTES DIRECTOR 2.00 X 0 0 0 JENNIFER ANDERSON DIRECTOR 2.00 X 0 0 0 KAREN J ANDERSON DIRECTOR 2.00 X 0 0 0 NICHOL L BECKSTRAND DIRECTOR 2.00 X 0 0 0 ANDREA BRENNAN DIRECTOR 2.00 X 0 0 0 GAIL DORFMAN DIRECTOR 2.00 X 0 0 0 LISA GOODMAN DIRECTOR 2.00 X 0 0 0 LAURA HELMER DIRECTOR 2.00 X 0 0 0 CRAIG KLAUSING DIRECTOR 2.00 X 0 0 0 MARGARET LOVEJOY DIRECTOR 2.00 X 0 0 0 DOUG VAN METRE DIRECTOR 2.00 X 0 0 0 REBECCA NOECKER DIRECTOR 2.00 X 0 0 0 JOHN QUINCY DIRECTOR 2.00 X 0 0 0 THOMAS STREITZ DIRECTOR 2.00 X 0 0 0 DAI THAO DIRECTOR THROUGH 7/2018 2.00 X 0 0 0 ELLEN K SAHLI PRESIDENT 40.00 X 210635 0 40519 COLLEEN EBINGER VICE PRESIDENT 40.00 X 154367 0 17465 WILLIAM MASK DIRECTOR, FINANCE THROUGH 6/1/2018 40.00 X 46640 0 17381 411642 0 75365 2 0 1 0 0 5043840 5043840 INTEREST-HOUSING LOAN 624200 1012844 1012844 FEE INCOME 541610 5668 5668 1018512 93559 93559 2026150 2018614 7536 7536 7536 MISCELLANEOUS 624200 13015 13015 13015 6176462 1018512 0 114110 1485995 1485995 440368 250013 166009 24346 345228 195999 130143 19086 27771 15767 10469 1535 50464 28650 19024 2790 45198 25660 17039 2499 85831 79666 6165 80917 80917 73116 73116 177273 111998 65275 79556 45167 29991 4398 55056 31257 20755 3044 13868 5643 8225 399436 399436 425999 392738 29007 4254 38408 21806 14479 2123 MISCELLANEOUS 10450 10202 248 REPORTS AND COMMUNICATI 8285 8285 RELEASE OF LOAN GUARANT -200000 -200000 PROVISION FOR LOAN LOSS -246282 -246282 3396937 2735116 597746 64075 495304 359884 13702840 15775723 2054383 3921665 222225 5668 43188 42264 486133 92168 430187 393965 38212313 38088365 55160440 58587534 445083 126232 280000 542000 211314 208609 15852491 15301544 1030721 635444 17819609 16813829 X 34838869 37113296 2501962 4660409 37340831 41773705 55160440 58587534 X 2779525 1653349 X 0 1 X 1 0 X X 4 CITY OF ST PAUL 416005521 6 1 0 0 CITY OF MINNEAPOLIS 416005375 6 1 0 0 METROPOLITAN COUNCIL 416008898 6 1 0 0 MINNESOTA HOUSING FINANCE AGENCY 411599130 6 1 150000 0 4 150000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 PART IV, SECTION B, LINE 2: AS A SUPPORTING ORGANIZATION OF GOVERNMENT, THE FAMILY HOUSING FUND WORKS COLLABORATIVELY WITH MINNESOTA HOUSING, THE METROPOLITAN COUNCIL, AND THE CITIES OF MINNEAPOLIS AND ST. PAUL, SUPPORTING THEIR HOUSING POLICIES AND PROGRAMS AND DELIVERING TESTED SOLUTIONS TO HOUSING CHALLENGES. THE FOUR GOVERNMENT ENTITIES APPOINT FOUR MEMBERS EACH TO THE FAMILY HOUSING FUND BOARD OF DIRECTORS. APPOINTMENTS BY GOVERNMENT PARTNERS RANGE FROM AGENCY LEADERSHIP, TO ELECTED OFFICIALS, TO COMMUNITY MEMBERS. THROUGH THEIR APPOINTED REPRESENTATION, EACH GOVERNMENT AGENCY PARTICIPATES IN GOVERNANCE OF THE FAMILY HOUSING FUND, INCLUDING FINANCIAL OVERSIGHT AND SETTING THE STRATEGIC DIRECTION. THIS INCLUDES THE APPROVAL OF GRANTS BEING AWARDED TO ORGANIZATIONS OTHER THAN THE SUPPORTED ORGANIZATIONS MENTIONED ABOVE. DETAILED DISCUSSIONS DURING BOARD MEETINGS SURROUNDING EACH GRANT AWARD CONSIDERED ENSURES THAT GRANTS AWARDED BY THE FAMILY HOUSING FUND FURTHER THE EXEMPT PURPOSE OF THE FAMILY HOUSING FUND AND ITS SUPPORTED ORGANIZATIONS. 0 0 0 0 0 73116 73116 3259746 3332862 316643 79161 0 0 430537 584188 416016 316643 1747384 2621076 72000 72000 72000 73116 289116 107634 146047 104004 79161 436846 655269 0 0 0 0 277271 36969 240302 208862 55199 153663 393965 NET LOAN RECEIVABLE 38088365 F 38088365 LOAN GUARANTY 350000 LOAN PAYABLE - HENNEPIN COUNTY 285444 635444 X 7829811 1653349 1653349 6176462 0 6176462 3396937 0 3396937 0 3396937 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE FUND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEY ARE ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE STATE OF MINNESOTA PROVISIONS. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE FUND FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE FUND FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2018 AND 2017. THE FUND'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN FROM DECREASE IN PRESENT VALUE DISCOUNT OF LOANS RECEIVABLE 1,653,349. 1 URBAN LAND INSTITUTE 81 SOUTH 9TH STREET SUITE 310 MINNEAPOLIS MN 55402 530159845 501(C)(3) 100000 N/A N/A REGIONAL HOUSING PRESERVATION AND PRODUCTION THE LINK 1210 GLENWOOD AVE MINNEAPOLIS MN 55405 411920649 501(C)(3) 25000 N/A N/A CONNECTIONS PROJECT HOUSINGLINK 275 MARKET STREET SUITE 509 MINNEAPOLIS MN 55405 411873314 501(C)(3) 50000 N/A N/A GENERAL OPERATING SUPPORT MID-MINNESOTA LEGAL AID 430 1ST AVE N STE 300 MINNEAPOLIS MN 55401 411412710 501(C)(3) 77000 N/A N/A TENANT OUTREACH COORDINATOR MN COALITION FOR THE HOMELESS 2233 UNIVERSITY AVE W STE 434 SAINT PAUL MN 55114 411601248 501(C)(3) 10000 N/A N/A BUILD PUBLIC WILL AVENUES FOR HOMELESS YOUTH 1708 OAK PARK AVE N MINNEAPOLIS MN 55411 411765140 501(C)(3) 10000 N/A N/A 2025 PLAN TO END HOMELESSNESS ST STEPHEN'S HUMAN SERVICES 2309 NICOLLET AVENUE SOUTH MINNEAPOLIS MN 55404 010639118 501(C)(3) 14500 N/A N/A 2025 PLAN TO END HOMELESSNESS FRIENDS OF THE HENNEPIN COUNTY LIBRARY 300 NICOLLET MALL N-290 MINNEAPOLIS MN 55401 363579536 501(C)(3) 12000 N/A N/A 2025 PLAN TO END HOMELESSNESS YOUTHLINK 41 N 12TH ST MINNEAPOLIS MN 55403 411341773 501(C)(3) 50000 N/A N/A 2025 PLAN TO END HOMELESSNESS COMMUNITY MEDIATION & RESTORATIVE SERVICES INC 9220 BASS LAKE RD STE 270 NEW HOPE MN 55428 411484089 501(C)(3) 100000 N/A N/A EVICTION REDUCTIONS & PREVENTION NORTHPOINT HEALTH & WELLNESS CENTER INC 1315 PENN AVE N MINNEAPOLIS MN 55411 200898277 501(C)(3) 70100 N/A N/A EVICTION PREVENTION AND HOUSING RELOCATION/STABILITY CASE MANAGER AMHERST H WILDER FOUNDATION 451 LEXINGTON PARKWAY N SAINT PAUL MN 55104 410693889 501(C)(3) 20000 N/A N/A 10TH TRIENNIAL MN HOMELESS STUDY DISPUTE RESOLUTION CENTER 91 ARCH ST SAINT PAUL MN 55130 411441352 501(C)(3) 60000 N/A N/A RAMSEY COUNTY EVICTION PREVENTION MINNESOTA HOUSING FINANCE AGENCY 400 WABASHA STREET NORTH SUITE 400 SAINT PAUL MN 55102 411599130 GOVERNMENT 150000 N/A N/A HOMEOWNER EDUCATION SERVICES MINNESOTA HOME OWNERSHIP CENTER 1000 PAYNE AVE STE 200 SAINT PAUL MN 55130 411741817 501(C)(3) 25000 N/A N/A GENERAL OPERATING SUPPORT AFRICAN CAREER EDUCATION AND RESOURCES 6800 78TH AVENUE NORTH BROOKLYN PARK MN 55430 471207676 501(C)(3) 45000 N/A N/A BUILDING HOUSING CAPACITY AND TENANT SCREENING NEW AMERICAN DEVELOPMENT CENTER 115 E LAKE ST STE B03 MINNEAPOLIS MN 55408 320241006 501(C)(3) 55000 N/A N/A SUPPORT FULL-TIME HOUSING STAFF HOUSING JUSTICE CENTER 570 ASBURY STREET SUITE 104 SAINT PAUL MN 55104 411930525 501(C)(3) 45000 N/A N/A TENANT SCREENING CIVIC CONSULTING MINNESOTA 80 SOUTH 8TH ST STE 2000 MINNEAPOLIS MN 55402 464341878 501(C)(3) 30000 N/A N/A RESIDENTIAL LICENSING RED LAKE NATION HELPING THE HOMELESS PO BOX 587 RED LAKE MN 56670 841661929 501(C)(3) 50000 N/A N/A MINNEAPOLIS HOMELESS ENCAMPMENT RELOCATION FROGTOWN NEIGHBORHOOD ASSOCIATION 685 MINNEHAHA AVE W SAINT PAUL MN 55104 410963444 501(C)(3) 20000 N/A N/A FAIR CHANCE PROJECT ON TENANT SCREENING ASAMBLEA DE DERECHOS CIVILES 3805 E 40TH ST STE 102 MINNEAPOLIS MN 55406 271350278 501(C)(3) 20000 N/A N/A FAIR CHANCE PROJECT ON TENANT SCREENING COMMUNITY STABILIZATION PROJECT 501 DALE ST N SAINT PAUL MN 55103 411729493 501(C)(3) 20000 N/A N/A FAIR CHANCE PROJECT ON TENANT SCREENING HOME LINE 3455 BLOOMINGTON AVE MINNEAPOLIS MN 55407 411941115 501(C)(3) 20000 N/A N/A FAIR CHANCE PROJECT ON TENANT SCREENING THE ALLIANCE 2525 FRANKLIN AVENUE EAST STE 200 MINNEAPOLIS MN 55406 411977419 501(C)(3) 20000 N/A N/A FAIR CHANCE PROJECT ON TENANT SCREENING GOODWILL NW 5798 PO BOX 1450 MINNEAPOLIS MN 55485 410706171 501(C)(3) 24780 N/A N/A STABLE FAMILIES INITIATIVE CITY OF BLOOMINGTON 1800 WEST OLD SHAKOPEE ROAD BLOOMINGTON MN 55431 416004990 GOVERNMENT 135000 N/A N/A COMPREHENSIVE HOUSING STRATEGY GREATER MINNESOTA HOUSING FUND 332 MINNESOTA ST 1650-WEST SAINT PAUL MN 55101 411836919 501(C)(3) 100000 N/A N/A PROSPERITY'S FRONT DOOR CAMPAIGN YMCA OF THE GREATER TWIN CITIES 651 NICOLLET MALL STE 500 MINNEAPOLIS MN 55402 452563299 501(C)(3) 70355 N/A N/A CONNECTIONS PROJECT 29 0 PART I, LINE 2: FILES ARE KEPT ON GRANTEES AND GRANTS ARE AWARDED TO ORGANIZATIONS SPONSORING HOUSING BENEFITING LOW TO MODERATE INCOME PERSONS. X 0 0 0 0 0 0 0 0 0 ELLEN K SAHLI PRESIDENT 205635 0 5000 0 0 0 21176 0 19343 0 251154 0 0 0 COLLEEN EBINGER VICE PRESIDENT 154367 0 0 0 0 0 14175 0 3290 0 171832 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF DIRECTORS MAY DESIGNATE AN EXECUTIVE COMMITTEE CONSISTING OF AT LEAST THREE DIRECTORS OF THIS CORPORATION. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, AND THE EXECUTIVE COMMITTEE IS AT ALL TIMES SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS CONSISTS OF 24 MEMBERS, 4 MEMBERS ARE APPOINTED BY THE CITY OF SAINT PAUL (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE CITY OF MINNEAPOLIS (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE METROPOLITAN COUNCIL AND 4 BY THE MINNESOTA HOUSING FINANCE AGENCY. THE REMAINING 8 MEMBERS ARE APPOINTED BY THE FAMILY HOUSING FUND BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT AND THE FINANCE COMMITTEE. THE FINANCE COMMITTEE CHAIR WILL THEN PRESENT THE FORM 990 TO THE BOARD AT THE NEXT REGULAR MEETING, BEFORE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C FAMILY HOUSING FUND'S CONFLICT OF INTEREST POLICY REQUIRES THAT, PRIOR TO ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A DIRECTOR OR RESPONSIBLE PERSON WHO HAS A CONFLICT OF INTEREST DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN THE BOARD'S DISCUSSION ON THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSONS SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. SUCH DISCLOSURES WILL BE REFLECTED IN THE MINUTES OF THE MEETING. IF IT WAS NOT ENTIRELY CLEAR WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, THEN THE PERSON WITH THE POTENTIAL CONFLICT WILL DISCLOSE THE CIRCUMSTANCES TO THE PRESIDENT, THE CHAIR OR THE CHAIR'S DESIGNEE, WHO SHALL DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST. EACH RESPONSIBLE PARTY IS REQUIRED TO ANNUALLY SUBMIT A DISCLOSURE FORM IDENTIFYING THE BUSINESSES AND NONPROFIT ORGANIZATIONS OF WHICH SUCH RESPONSIBLE PERSON IS A DIRECTOR, OFFICER, EMPLOYEE OR PARTNER OR IN WHICH SUCH PERSON HAS AN OWNERSHIP INTEREST OF FIVE PERCENT OR MORE. THE POLICY IS REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL HAVE THE AUTHORITY TO ADJUST THE PRESIDENT'S COMPENSATION ON AN ANNUAL BASIS, AT THEIR DISCRETION, THROUGH ANY COMBINATION OF A PERFORMANCE-BASED SALARY INCREASE. THE EXECUTIVE COMMITTEE SHALL BASE THE PRESIDENT'S COMPENSATION ADJUSTMENTS ON CONSIDERATION OF THE PRESIDENT'S PERFORMANCE, THE ORGANIZATION'S BUDGET, MARKET CONDITIONS AND FHFUND'S FINANCIAL POSITION. THE PRESIDENT HAS THE AUTHORITY TO ESTABLISH COMPENSATION FOR ALL OTHER STAFF AND THE COMPENSATION IS BASED ON JOB DESCRIPTIONS AND PERFORMANCE REVIEWS. COMPENSATION LEVELS ARE SET BY THE PRESIDENT AND APPROVED BY THE BOARD AS PART OF THE ANNUAL BUDGET. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THESE DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN FROM DECREASE IN PRESENT VALUE DISCOUNT OF LOANS RECEIVABLE 1,653,349.