2018-06-04T14:55:25-05:00 2017-12-31 943108253 NOVOGRADAC & COMPANY LLP 5 GREAT VALLEY PARKWAY SUITE 319 MALVERN PA 19355 990 2017-01-01 522101165 CITY FIRST ENTERPRISES INC CITY 2027454490 1436 U STREET NW NO 404 WASHINGTON DC 20009 MARK KAUFMAN PRESIDENT 2027454490 2018-06-04 1 BENTLEY STANTON P00369094 6102324810 2017 2022-09-23 18:48:47Z MARK KAUFMAN 1436 U STREET NW NO 404 WASHINGTON DC 20009 1237761 0 X CFENTERPRISES.ORG X 1998 DC TO PROMOTE EQUITY AND OPPORTUNITY BY PROVIDING INCREASED ACCESS TO RESPONSIBLE CAPITAL AND COMPLEMENTARY FINANCIAL SERVICES TO UNDERSERVED COMMUNITIES WITH A GOAL OF ENSURING THE LONG-TERM WELL BEING AND RESILIENCE OF INDIVIDUALS, FAMILIES AND INSTITUTIONS. WE OFFER FINANCING AND RELATED SERVICES FOR HOUSING, SMALL BUSINESSES, COMMUNITY FACILITIES, NON-PROFITS AND OTHER MARKET PARTICIPANTS THAT HAVE A POSITIVE IMPACT ON LOW AND MODERATE INCOME COMMUNITIES. 10 9 7 0 0 0 1731492 692396 0 0 253878 408745 126190 136620 2111560 1237761 57413 83514 0 0 500107 596060 0 0 68821 554557 632508 1112077 1312082 999483 -74321 20550028 21964071 538801 1987206 20011227 19976865 TO PROMOTE EQUITY AND OPPORTUNITY BY PROVIDING INCREASED ACCESS TO RESPONSIBLE CAPITAL AND COMPLEMENTARY FINANCIAL SERVICES TO UNDERSERVED COMMUNITIES WITH A GOAL OF ENSURING THE LONG-TERM WELL BEING AND RESILIENCE OF INDIVIDUALS, FAMILIES AND INSTITUTIONS. 0 0 1145797 692396 MANAGED PORTFOLIO OF DEPLOYED FUNDS IN SUBORDINATED LOANS TO NONPROFITS, SMALL BUSINESSES, AND AFFORDABLE HOUSING ORGANIZATIONS WITHIN THE GREATER WASHINGTON METROPOLITAN COMMUNITY, AS WELL AS PROVIDE TECHNICAL ASSISTANCE AND CREDIT COUNSELING TO BORROWERS. CONTINUED CREATION OF PERMANENTLY AFFORDABLE HOUSING BY WHOLLY OWNED SUBSIDIARY. 1145797 1 1 0 0 0 0 0 0 0 0 1 1 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 0 1 1 1 0 0 1 10 0 1 7 1 0 0 0 0 0 0 0 0 0 0 X 10 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DC X MARK KAUFMAN PRESIDENT 2027454490 1436 U STREET NW NO 404 WASHINGTON DC 20009 AURIE HALL DIRECTOR 1.00 X 0 0 0 KIMBERLY LEVINE DIRECTOR 1.00 X 0 0 0 DR HASSAN MINOR DIRECTOR 1.00 X 0 0 0 ELLEN LAZAR DIRECTOR 1.00 X 0 0 0 DAVID MCGRADY DIRECTOR 1.00 X 0 0 0 WILLIAM LONGBRAKE DIRECTOR 1.00 X 0 0 0 BRIAN ARGRETT CHAIRMAN 1.00 X 0 0 0 JAIME BORDENAVE VICE-CHAIRMAN 1.00 X 0 0 0 PATRICIA HENRIQUES TREASURER 1.00 X 0 0 0 CHUCK MUCKENFUSS SECRETARY 1.00 X 0 0 0 ROBIN HALSBAND SENIOR VICE PRESIDENT 40.00 X 127273 0 0 MARK KAUFMAN PRESIDENT 40.00 X 150000 0 6000 277273 0 6000 2 0 1 0 0 692396 692396 408745 408745 OTHER REVENUE 900099 136620 136620 136620 1237761 0 0 545365 83514 83514 489363 420753 32092 36518 70556 60856 4560 5140 36141 30941 2445 2755 14104 14104 57136 38725 13881 4530 76774 76053 721 80442 59779 13222 7441 162796 121917 30615 10264 5857 5562 87 208 8155 6454 562 1139 873 768 105 LOAN RELATED EXPENSES 226371 226371 1312082 1145797 97464 68821 4041978 3937598 136791 20000 9291632 10677797 33322 32141 55761 54078 3557 1683 7042748 7245936 0 48916 20550028 21964071 24608 103290 10107 20726 250000 900000 254086 963190 538801 1987206 X 19350286 19314669 660941 662196 20011227 19976865 20550028 21964071 -74321 203188 -163228 0 X X 0 1 X 1 1 1 X 1524596 4201818 3010164 1731492 692396 11160466 1524596 4201818 3010164 1731492 692396 11160466 11160466 51182 28215 100949 253878 408745 842969 12003435 0.92980 0.96820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55761 54078 1683 1683 INVESTMENT IN CFBANC CORPORATION - 23.77% OWNERSHIP 7245936 C 7245936 FUNDS HELD OF COMMUNITY LAND TRUST 850000 PRE-DEVELOPMENT FUNDING COMMITMENT 113190 963190 X 1827052 203188 386103 589291 1237761 0 1237761 1698185 386103 386103 1312082 0 1312082 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THIS RETURN. 1 CITY FIRST HOMES INC 1436 U STREET NW WASHINGTON DC 20009 262335395 501(C)(3) 226372 CASH TO SUPPORT THE PROGRAM SERVICES OF CITY FIRST HOMES, INC. INVESTIGATE/PROMOTE SHARED OFFICE SPACE/INFRASTRUCTURE FOR NON-GOVERNMENTAL ORGS. 1 1 PART I, LINE 2: CITY FIRST ENTERPRISES, INCORPORATED IS THE SOLE MEMBER OF CITY FIRST HOMES, INC. FOR WHICH IT MAKES CERTAIN FINANCIAL COMMITMENTS AS ITS SOLE MEMBER. THE FOLLOWING METHODOLOGY, MONITORED ON AN ON-GOING BASIS, IS USED FOR ALLOCATING COSTS AND EXPENSES: 1) COST AND EXPENSES ARE ALLOCATED BASED ON EMPLOYEE HOURS. 2) THE EMPLOYEES HOURS ARE TRACKED ON MONTHLY TIMESHEETS. 3) AT THE END OF A PERIOD THE TOTAL HOURS FOR THE EMPLOYEE ARE ACCUMULATED TO DETERMINE THE RATIO APPLIED TO THE EMPLOYEES SALARY AS WELL AS OTHER OPERATING EXPENSES. 4) THE DENOMINATOR IS TOTAL EMPLOYEE HOURS. 5) THE NUMERATOR IS THE HOURS FOR THAT ACTIVITY (I.E., PROGRAM HOURS/TOTAL EE HOURS). THE ACTIVITIES ARE AS FOLLOWS: 1) PROGRAM COSTS WHICH ARE DIRECT COSTS ATTRIBUTABLE TO A PROGRAM. 2) GENERAL AND ADMINISTRATIVE EXPENSES INCLUDE OFFICE TASKS, VACATION, ETC. 3) FUNDRAISING EXPENSES INCLUDE PROPOSAL WRITING, CONTACT WITH POTENTIAL FUNDERS, ETC. X X 0 0 0 0 0 0 0 0 0 MARK KAUFMAN PRESIDENT 150000 0 0 0 0 0 6000 0 0 0 156000 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIP AT CFBANC CORPORATION - CHUCK MUCKENFUSS, KIMBERLY LEVINE, DR. HASSAN MINOR, BRIAN ARGRETT, DAVID MCGRADY. BUSINESS RELATIONSHIP AT CITY FIRST HOMES, INC. - BRIAN ARGRETT, JAIME BORDENAVE, AURIE HALL, PATRICIA HENRIQUES, ELLEN LAZAR, KIMBERLY LEVINE, DAVID MCGRADY, DR. HASSAN MINOR, CHUCK MUCKENFUSS. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS RETURN. AUDIT COMMITTEE IS GIVEN A COPY OF RETURN TO REVIEW. AUDIT COMMITTEE SUBMITS COMMENTS TO MANAGEMENT. MANAGEMENT DISCUSSES RETURN WITH TAX PREPARER TO INCORPORATE ANY CHANGES; FINAL DRAFT PREPARED & DISCUSSED WITH AUDIT COMMITTEE. THE FINAL DRAFT, REFLECTING ANY NECESSARY CORRECTIONS, IS PROVIDED TO THE BOARD FOR REVIEW AND FINAL APPROVAL; THEN THE RETURN IS FILED BY THE PREPARER. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS FOR CONFLICT OF INTEREST ISSUES THAT ARE REFERRED TO THEIR LAWYERS AS NEEDED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS COMPARABLE PAY DATA, CONSIDERS QUALIFICATIONS OF THE CANDIDATE(S) AND FORMALIZES ITS COMPENSATION DECISIONS THROUGH A FORMAL BOARD OF DIRECTORS VOTE THAT IS RECORDED IN BOARD MINUTES. 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. FORM 990, PARI XII, LINE 2C CITY FIRST ENTERPRISES, INCORPORATED MAINTAINS AN AUDIT COMMITTEE THAT HAS THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. ADDITIONAL INFORMATION CITY FIRST ENTERPRISES IS A NON-PROFIT BANK HOLDING COMPANY ENGAGED IN PROMOTING EQUITY AND OPPORTUNITY IN UNDERSERVED COMMUNITIES. THROUGH THE HOLDING COMPANY AND OUR CITY FIRST HOMES SUBSIDIARY WE PROVIDE CAPITAL THAT IS BROADER AND MORE FLEXIBLE THAN BANK LENDING TO SUPPORT HOUSING, SMALL BUSINESS AND COMMUNITY FACILITIES IN LOW AND MODERATE INCOME COMMUNITIES, AND WE OPERATE PROGRAMS DESIGNED TO PROMOTE AND SUSTAIN PERMANENTLY AFFORDABLE HOUSING. CITY FIRST ENTERPRISES ALSO OWNS A MINORITY STAKE AND CONTROLLING INTEREST IN CITY FIRST BANK, A FOR-PROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION CHARTERED BY THE OCC WHICH SHARES OUR MISSION. WORKING TOGETHER, THE CITY FIRST FAMILY OF COMPANIES STRIVE TO DELIVER CAPITAL AND SERVICES THAT CAN ENABLE DISADVANTAGED INDIVIDUALS, FAMILIES AND BUSINESSES ACROSS OUR MARKET AREA TO PROSPER. CITY FIRST HOMES INC 1436 U STREET NW WASHINGTON DC 20009 262335395 TO PROMOTE COMMUNITY DEVELOPMENT BY PROVIDING AFFORDABLE HOUSING. DC 501(C)(3) 509(A)(2) CITY FIRST ENTERPRISES INC 0 CFBANC CORPORATION 1432 U STREET NW WASHINGTON DC 20009 522101164 MANAGING CITY FIRST BANK OF D.C. DC C 0.23770 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 CITY FIRST HOMES INC A 36000 CASH CITY FIRST HOMES INC B 226372 CASH CITY FIRST HOMES INC D 3575333 CASH CITY FIRST HOMES INC P 48916 CASH CITY FIRST BANK OF DC L 42231 CASH CITY FIRST BANK OF DC R 3943 CASH CITY FIRST BANK OF DC A 6701 CASH