2018-10-30T12:41:59-05:00 2018-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2017-07-01 222524015 NEW HAMPSHIRE COMMUNITY LOAN FUND INC NEWH 6032246669 7 WALL STREET CONCORD NH 03301 JULIANA EADES PRESIDENT 6032246669 2018-10-29 1 THOMAS WASHBURN CPA P00537319 5083669100 2018-10-29 64.238.141.162 2018-10-29 09:48:40 ED P 00AC68185A21F79280EE8D14E69A55E23ABC417D D0D11AF730C84EA989067D997D1D7D43B936B30F 2017 2019-02-21 02:37:17Z JULIANA EADES 7 WALL STREET CONCORD NH 03301 11308098 0 X WWW.COMMUNITYLOANFUND.ORG X 1983 NH TO SERVE AS A CATALYST, LEVERAGING FINANCIAL, HUMAN AND CIVIC RESOURCES TO ENABLE TRADITIONALLY UNDERSERVED PEOPLE TO ATTAIN AFFORDABLE HOMES, QUALITY JOBS AND CHILD CARE, AND BECOME FINANCIALLY INDEPENDENT. WE DO THIS BY PROVIDING LOANS, CAPITAL AND TECHNICAL ASSISTANCE; COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS AND PUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TO SOLVE PROBLEMS.ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRST COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION, AND IS RECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT, FINANCIAL STRENGTH AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE 2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHEST HONOR IN OUR FIELD. 17 16 55 16 0 0 3010711 2947297 7490959 8179477 95751 -105449 246956 1953 10844377 11023278 385174 206056 0 0 4332940 4225361 0 2713 349423 4756588 5369957 9474702 9804087 1369675 1219191 124966101 137653429 101218610 112150876 23747491 25502553 X SEE FORM 990, PART I, LINE 1. 0 0 3194722 206056 7442888 AFFORDABLE HOUSING - SEE SCHEDULE O 4441097 CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O 985889 259136 BUSINESS FINANCE - SEE SCHEDULE O 210843 194586 210843 194586 8832551 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 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 504 0 1 55 1 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X BONNIE SCADOVA 6032246669 7 WALL STREET CONCORD NH 03301 TOM BUNNELL CHAIR 1.00 X X 0 0 0 BRIGID MURRAY VICE CHAIR 1.00 X X 0 0 0 JULIANA EADES PRESIDENT 40.00 X X 167859 0 14350 PETER BRANKMAN TREASURER 1.00 X X 0 0 0 JANET ACKERMAN VICE TREASURER 1.00 X X 0 0 0 BETSY MCNAMARA SECRETARY 1.00 X X 0 0 0 NAOMI BUTTERFIELD VICE SECRETARY 1.00 X X 0 0 0 DON BRUEGGEMANN MEMBER 1.00 X 0 0 0 KIM CAPEN MEMBER 1.00 X 0 0 0 PAM LAFLAMME MEMBER 1.00 X 0 0 0 KATE LUCZKO MEMBER 1.00 X 0 0 0 DAN MULLER MEMBER 1.00 X 0 0 0 ANTHONY POORE MEMBER 1.00 X 0 0 0 JAMIE RICHARDSON MEMBER 1.00 X 0 0 0 PAULA ROGERS MEMBER 1.00 X 0 0 0 PAUL SPANG MEMBER 1.00 X 0 0 0 MICHAEL SWACK EMERITUS 1.00 X 0 0 0 BONNIE SCADOVA CHIEF FINANCIAL OFFICER 40.00 X 110330 0 15203 JOHN HAMILTON VICE PRESIDENT OF ECONOMIC OPPORTUNITY 40.00 X 106838 0 7847 DEBRA MILLER VICE PRESIDENT OF EXTERNAL RELATIONS 40.00 X 112224 0 19224 JOHN FLANDERS CHIEF OPERATING OFFICER 40.00 X 106063 0 24260 603314 0 80884 5 0 1 0 0 1340311 1606986 147409 2947297 INTEREST FROM LOANS 531390 7698809 7698809 LOAN RELATED FEES 531390 456886 456886 TRAINING AND OTHER FEES 531390 23782 23782 8179477 179371 179371 284820 -284820 -284820 -284820 WARRANT INCOME 900099 1953 1953 1953 11023278 7896610 0 179371 206056 206056 335856 116869 180030 38957 3161200 2835018 125754 200428 89959 80190 4032 5737 379831 333904 20247 25680 258515 218611 22254 17650 16459 14680 1535 244 65097 43207 18923 2967 1279 1279 2713 2713 287800 218061 60248 9491 15718 15718 342022 270307 39532 32183 43587 29313 9787 4487 113404 72578 38558 2268 71266 66160 4764 342 14943 13522 1239 182 3762207 3762207 181358 119966 57863 3529 101536 65788 33340 2408 LOAN LOSS PROVISION 253242 253242 PROPERTY EXPENSES 38682 38682 TECHNICAL ASSISTANCE 38578 38578 TRAINING EXPENSES 22779 18615 4007 157 9804087 8832551 622113 349423 7690869 6925783 1557873 907424 448157 577727 151806 179230 5764648 1827869 4057450 3936779 9039585 7520889 102020361 117605597 124966101 137653429 1698972 1538900 759408 219214 90160230 101792762 8600000 8600000 101218610 112150876 X 15092351 16981631 8655140 8520922 23747491 25502553 124966101 137653429 1219191 535872 0 X X 0 1 X 1 1 1 X 3086673 4607789 4458599 3010711 2947477 18111249 3086673 4607789 4458599 3010711 2947477 18111249 678963 17432286 106052 108072 83458 95751 179371 572704 18683953 35257002 0.93300 0.94750 X 200 1079 1279 9549746 9551025 627551 156888 0 0 648764 692386 623735 627551 2592436 3888654 1053 1279 2332 162191 173097 155934 156888 648110 972165 100 200 300 0 0 321461 321461 4782629 1308322 3474307 660558 519547 141011 3936779 LOANS RECEIVABLE 114661589 C ROC USA 2240980 F OTHER PROGRAM-RELATED EQUITY INVESTMENTS 703028 F 117605597 EQUITY EQUIVALENTS PAYABLE 8600000 8600000 X 7592237 535872 -3966913 -3431041 11023278 0 11023278 5837175 0 5837175 3966913 3966913 9804088 PART X, LINE 2: THE COMMUNITY LOAN FUND ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COMMUNITY LOAN FUND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS AT JUNE 30, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST EXPENSE -3,762,207. PASS THROUGH GRANTS TO OTHERS -206,056. IN KIND 1,350. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 3,762,207. PASS THROUGH GRANTS TO OTHERS 206,056. IN KIND -1,350. 1 IDA MATCHED SAVINGS GRANTS 69 206056 CASH PART I, LINE 2: PROGRAM MANAGERS OVERSEE GRANT PROGRAMS AND MONITOR THE USE OF FUNDS BY GRANTEES THROUGH A VARIETY OF MEANS INCLUDING PERFORMANCE REPORTS, FINANCIAL REPORTS, INVOICES, PHOTOGRAPHY AND OTHER FORMS OF SUBSTANTIATING DOCUMENTATION. X X X X 0 0 0 0 0 0 0 0 0 JULIANA EADES PRESIDENT 167859 0 0 0 0 0 0 0 14350 0 182209 0 0 0 X 5 128227 FAIR MARKET VALUE X NON-CASH GRANTS CONVERTED FROM LOANS PAYABLE BY DO 20 19182 FAIR MARKET VALUE 0 1 0 FORM 990, PT. III, LINE 4A FOUR COMMUNITY LOAN FUND PROGRAMS ADDRESS N.H.'S NEED FOR HOUSING FOR WORKING FAMILIES AND FOR FAMILIES WITH LOW INCOMES. 1. ROC-NH PROVIDES LOANS, ALONG WITH EDUCATIONAL AND TECHNICAL ASSISTANCE, TO BUILD LONG-TERM VALUE AND SECURITY FOR RESIDENTS OF N.H.'S MANUFACTURED-HOME COMMUNITIES. SINCE 1984, ROC-NH HAS PROVIDED TECHNICAL ASSISTANCE AND FINANCING FOR COMMUNITY PURCHASE AND IMPROVEMENT TO HELP HOMEOWNERS PURCHASE, MANAGE AND IMPROVE THEIR COMMUNITIES AS COOPERATIVE CORPORATIONS. AS OF JUNE 30, 2018, 125 RESIDENT-OWNED COMMUNITIES IN N.H. WERE HOME TO 7,216 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2018, THE COMMUNITY LOAN FUND MADE 20 LOANS TOTALING MORE THAN $22.5 MILLION. IN DOING SO, IT PRESERVED 259 HOUSING UNITS AND PROVIDED 16,989 HOURS OF TECHNICAL ASSISTANCE TO RESIDENT-OWNED COMMUNITIES. ON A SUNNY SEPTEMBER MORNING, EIGHT ADULTS ARE BACK IN SCHOOL. AND ALTHOUGH IT'S A SATURDAY, AND THE SCENE IN MASCOMA VALLEY REGIONAL HIGH'S CAFETERIA COULD BE A DECADES-LATER SEQUEL OF THE BREAKFAST CLUB, THESE STUDENTS AREN'T IN DETENTION. IN FACT, THEY'RE SERIOUS STUDENTS, AND THEY'VE VOLUNTEERED TO BE HERE. THEY'RE LEADERS AND POTENTIAL LEADERS OF TWO NEW RESIDENT-OWNED MANUFACTURED-HOME COMMUNITIES (ROCS)-LAKESIDE COOPERATIVE IN ENFIELD AND MASCOMA VALLEY COOPERATIVE IN CANAAN-AND THEY'RE HUNGRY TO LEARN. FEW OF US CAN IMAGINE BEING PUT IN CHARGE, ALMOST OVERNIGHT, OF MULTI-MILLION-DOLLAR BUSINESSES. BUT THAT'S EXACTLY WHAT HAPPENS WHEN RESIDENTS OF MANUFACTURED-HOME (MOBILE-HOME) PARKS BUY THEIR COMMUNITIES. FOR THE WEEKS AND MONTHS PRECEDING THE SALE, THEIR ENERGY AND CONCENTRATION ARE ABSORBED BY ORGANIZING THEIR NEIGHBORS AS A COOPERATIVE, MEETING, AND GATHERING DOCUMENTS. THEN, ON CLOSING DAY, RELIEF. YAY, WE OWN IT! GULP. NOW WHAT? THIS MORNING, TWO ROC-NH TRAINERS HAVE BROUGHT THE "HERE'S WHAT"-A SIX-HOUR "BOOT CAMP" COVERING THE BASICS OF GOVERNANCE AND ACCOUNTABILITY; FINANCIAL STATEMENTS; THE DIFFERENCES BETWEEN COMMUNITY BYLAWS, RULES, AND POLICIES; LEGAL AND REGULATORY COMPLIANCE; AND PLANNING FOR CAPITAL IMPROVEMENTS. AMONG THE REASONS NONE OF NEW HAMPSHIRE'S 123 ROCS HAVE FAILED, EVEN THROUGH TWO ECONOMIC RECESSIONS, ARE THE TRAINING, TECHNICAL ASSISTANCE, AND PEER CONNECTIONS ROC-NH PROVIDES. NEWLY CONVERTED ROCS HAVE ACCESS TO MORE THAN 30 YEARS OF EXPERIENCE, AS WELL AS AN ONLINE MANAGEMENT GUIDE AND TEMPLATES, AND THE EXPERTISE OF THEIR PEERS AT OTHER ROCS. ALL OF THIS TRAINING AND EXPERTISE IS PAID FOR BY DONATIONS TO THE NEW HAMPSHIRE COMMUNITY LOAN FUND. IN CANAAN, THE MOST INTERACTION OCCURS WHEN THE ATTENDEES BREAK INTO SMALL GROUPS AND DISCUSS REAL-LIFE SCENARIOS: A RESIDENT THREATENS TO SUE A BOARD MEMBER BECAUSE PARK RULES SAY SHE CAN'T HAVE A DOG. A RESIDENT IS SO DISRUPTIVE AT MEETINGS THAT THE BOARD CAN'T CONDUCT BUSINESS. CAN THE BOARD FIX A WATER MAIN WITHOUT A VOTE OF THE MEMBERS? THESE COMMUNITY LEADERS WILL DEAL WITH THESE TYPES OF SCENARIOS, AND MANY, MANY, MORE, AS THEY AND THEIR NEIGHBORS TRANSITION FROM RENTERS TO OWNERS. IT'S A MAJOR MIND-SHIFT, LIKE BEING ELECTED SELECTMAN IN TOWN. LEARNING HOW TO BE IN CHARGE DOESN'T HAPPEN OVERNIGHT, BUT ROC-NH'S BOOT CAMP IS A GOOD START. 2. BECAUSE THEY ARE RELATIVELY AFFORDABLE AND AVAILABLE IN RURAL COMMUNITIES, MANUFACTURED HOMES ARE, FOR SOME N.H. FAMILIES, THE HOUSING OPTION OF LAST RESORT. THEY ALSO PROVIDE AN AFFORDABLE OPTION FOR OLDER COUPLES WHO ARE DOWNSIZING AND YOUNG COUPLES BEGINNING FAMILIES. THE COMMUNITY LOAN FUND'S WELCOME HOME LOANS PROVIDE REAL FIXED-RATE MORTGAGE PRODUCTS FOR A GROUP OF HOMEOWNERS THAT DOESN'T OTHERWISE HAVE ACCESS TO SUCH LOANS. MOST BUYERS OF MANUFACTURED HOMES HAVE TO USE PERSONAL PROPERTY LOANS, EVEN WHEN THEY OWN THE LAND THE HOUSE WILL OCCUPY, OR WHEN THEY HAVE SECURED THE LAND THROUGH COOPERATIVE OWNERSHIP. IN MAKING 1,212 LOANS TOTALING $57.8 MILLION SINCE 2002, WELCOME HOME LOANS HAVE SHOWN THESE BORROWERS TO BE BETTER-THAN-AVERAGE RISKS, WITH A CUMULATIVE LOSS RATE OF JUST 2.38 PERCENT. DURING FY 2018, WELCOME HOME LOANS PROVIDED $5.4 MILLION IN FINANCING TO 82 HOMEOWNERS. IN 2009, OUR WELCOME (THEN CALLED COOPERATIVE) HOME LOANS EARNED THE COMMUNITY LOAN FUND THE HIGHEST HONOR GIVEN TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS: THE NEXT AWARD FOR OPPORTUNITY FINANCE. THE PROGRAM'S STRONG PERFORMANCE HAS ALSO ATTRACTED OTHER CONVENTIONAL RESIDENTIAL LENDERS, INCLUDING USDA, NH HOUSING FINANCE AUTHORITY AND FANNIE MAE, TO THIS EMERGING MARKET. AS A CHILD, ANITA VASSAR DREAMED OF HAVING SHEEP AND SPINNING THEIR WOOL INTO YARN. IT TOOK MORE THAN 50 YEARS, BUT WHEN SHE AND HER HUSBAND RENTED A SMALL FARM, ANITA GOT HER SPINNING WHEEL AND A FLOCK OF FIVE WOOLLY SHETLANDS. "IT WAS WONDERFUL," SHE SAYS. AND THEN IT WASN'T. WHEN THE COUPLE SPLIT, ANITA WAS ALONE WITH HER GERMAN SHEPHERD ON THE FARM, WITH A SITE DIRECTOR'S JOB AT AN AFTER-SCHOOL PROGRAM HER ONLY INCOME. THE DROUGHT DOUBLED HAY PRICES AND ANITA COULDN'T AFFORD TO FEED HER SHEEP, SO SHE LET THEM GO. SHE WAS DEPRESSED, ISOLATED, AND DETERMINED NOT TO SPEND ANOTHER WINTER ON THE FARM. THEIR RENT WAS $1,000 A MONTH. WHEN SHE STARTED EXPLORING OTHER HOUSES AND APARTMENTS, SHE WAS SHOCKED. $1,300 FOR A THIRD-FLOOR HOLE-IN-THE-WALL? ANITA HAD LEFT THE FINANCES TO HER HUSBAND WHILE SHE KEPT THE HOME AND CARED FOR THEIR CHILDREN. SHE NEVER HAD HER OWN CREDIT CARD. SHE KNEW LITTLE OF BANK ACCOUNTS. "I WAS COMFORTABLE THAT WAY. THE LADIES OF TODAY WOULD SAY, 'SHAME ON YOU,' BUT THAT'S WHO I WAS." NOW, THOUGH, SHE FELT ADRIFT. SEARCHING ONLINE FOR MANUFACTURED HOMES FOR SALE OR RENT, ANITA SAW ONE LOCATED IN STONEBRIDGE COOPERATIVE, A RESIDENT-OWNED COMMUNITY IN HILLSBOROUGH. SHE LIKED THE IDEA OF LIVING IN A NEIGHBORHOOD AGAIN. BUT THE OWNER WAS SELLING, NOT RENTING. AND SHE COULDN'T BELIEVE ANYONE WOULD GIVE A 30-YEAR MORTGAGE TO A 70-YEAR-OLD. HER REALTOR KNEW ABOUT THE COMMUNITY LOAN FUND'S WELCOME HOME LOANS FOR MANUFACTURED HOMES, AND ITS SPECIAL DOWN-PAYMENT AND CLOSING-COST ASSISTANCE FOR LOW-INCOME HOMEBUYERS. APRIL ENCOURAGED HER TO APPLY, AND ANITA QUALIFIED FOR A LOAN THAT WAS $260 A MONTH LESS THAN SHE HAD PAID TO RENT. SHE BOUGHT THE HOME IN JUNE, AND AS FRIENDS AND RELATIVES VISITED TO CELEBRATE ANITA'S "DREAM PLACE," SHE BEGAN FEELING LIKE A NEW PERSON, ONE WHO IS CAPABLE, CREATIVE, AND CONFIDENT. "I HAVE THE FREEDOM-AND I HAVEN'T HAD THAT IN A LONG TIME-TO EXPLORE, TO VOLUNTEER," SHE SAYS. SHE'D LIKE A PART-TIME JOB OR TWO AND HAS SAVED THE HOUSE'S SUNNIEST ROOM FOR A CRAFT STUDIO, WHERE SHE'LL TEST SOME NEW IDEAS FOR HER PAPIER MACHE SCULPTURES. "I'M DOING MY OWN THINKING, AND I'M DOING MY OWN DECISION-MAKING, WHICH IS SCARY AT TIMES. BUT I'M ON MY WAY TO BECOMING ANOTHER PERSON," ANITA SAYS. AND YOU MADE IT POSSIBLE." 3. THE COMMUNITY HOUSING PROGRAM EXPANDS N.H.'S SUPPLY OF INCREASINGLY SCARCE AFFORDABLE HOUSING?WITH THE GOAL OF KEEPING IT PERMANENTLY AFFORDABLE? BY PROVIDING LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT HOUSING DEVELOPMENT ORGANIZATIONS. SINCE 1989 THE COMMUNITY LOAN FUND HAS MADE $27.6 MILLION IN LOANS, RESULTING IN THE CREATION OF 1,594 AFFORDABLE APARTMENTS VALUED AT MORE THAN $224 MILLION. COMMUNITY HOUSING HAS ALSO HELPED CREATE AND NURTURE A NOW-MATURE NETWORK OF NONPROFIT DEVELOPERS, WHILE ASSISTING COMMUNITY GROUPS TACKLING THEIR FIRST PROJECTS, TO CREATE CAPACITY IN ONE OF THE LEAST-AFFORDABLE STATES IN THE NATION. RITA LANDRY WAS BORN AND BROUGHT UP IN LINCOLN, N.H., AND AN ALMOST GRAVITATIONAL FORCE HAS ALWAYS DRAWN HER BACK HERE. IT'S NOT JUST THE BEAUTY OF THE TOWN, WHICH IS SETTLED IN THE WHITE MOUNTAINS. IT'S THE COMFORTING FAMILIARITY OF PEOPLE SHE HAS KNOWN HER WHOLE LIFE. SO AFTER SURVIVING HER HUSBAND AND A PARTNER, LIVING WITH TWO DAUGHTERS AND WATCHING GRANDCHILDREN SPROUT INTO TEENAGERS, RITA "CAME HOME" IN 2008. SHE SETTLED INTO LINCOLN GREEN APARTMENTS, AN AFFORDABLE HOUSING COMMUNITY FOR SENIORS MANAGED BY AHEAD. N.H. IS CHALLENGED TO MEET THE NEEDS OF SENIORS WHO WANT TO STAY IN THEIR HOMES OR THEIR COMMUNITIES. STUDIES PREDICT THAT SENIORS WILL OCCUPY ONE OF EVERY THREE HOUSING UNITS IN THE STATE BY 2025. MANY WILL HAVE DISABILITIES AND/OR MINIMAL INCOME OR SAVINGS AND WILL NEED SUBSIDIZED HOUSING. A YEAR AGO, THE NEW HAMPSHIRE COMMUNITY LOAN FUND PROVIDED FINANCING THAT HELPED PRESERVE 75 AFFORDABLE APARTMENTS FOR SENIORS AT LINCOLN GREEN AND IN ANTRIM, N.H. (CATCH MANAGES THE LATTER). BY PREVENTING THE APARTMENTS FROM BECOMING MARKET-RATE RENTALS, THE LOAN ENSURED THAT THE TENANTS WON'T PAY MORE THAN 30% OF THEIR INCOME FOR HOUSING. THAT AFFORDABILITY ALLOWS RITA AND OTHERS TO LIVE INDEPENDENTLY AND IN THEIR COMMUNITIES FOR AS LONG AS THEY ARE ABLE. "IT HAS BEEN ABSOLUTELY WONDERFUL HERE," SHE SAID. SHE'S CLOSE ENOUGH TO HER LARGE FAMILY THAT "THEY'RE COMING AND GOING ALL THE TIME. AND SHE LOVES HER MOBILITY. FORM 990, PT. III, LINE 4B THE COMMUNITY LOAN FUND IS ROOTED IN TWO BELIEFS: SOME FINANCIAL OBSTACLES PEOPLE FACE ARE NOT DUE SOLELY TO LOW INCOMES, BUT ALSO TO LACK OF CREDIT. MANY PEOPLE WITH CAPITAL WILL INVEST IN BASIC HUMAN NEEDS IF THERE IS A WAY TO DO SO. THE PHILANTHROPY PROGRAM WORKS ON THE SECOND PART OF THAT EQUATION. IT SEEKS TO MAKE ITS OPPORTUNITY NH INVESTMENTS A CONDUIT THROUGH WHICH PEOPLE, ORGANIZATIONS, FOUNDATIONS AND CORPORATIONS SAFELY AND SECURELY INVEST IN N.H.'S PEOPLE AND COMMUNITIES. THE COMMUNITY LOAN FUND IS A RARITY AMONG COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN ACCEPTING INVESTMENTS IN THE FORM OF UNSECURED LOANS FROM PRIVATE INDIVIDUALS, AS WELL AS FROM INSTITUTIONS LARGE AND SMALL. INVESTMENTS ARRIVE FROM RETIREES AND COMMUNITY CHURCH GROUPS, ALL THE WAY UP TO NATIONAL FOUNDATIONS. A ROBUST EQUITY POOL HELPS THE COMMUNITY LOAN FUND MAINTAIN A 100% REPAYMENT RECORD TO ITS INVESTORS. IT'S THE "SHOCK ABSORBER" THAT CUSHIONS THEIR MONEY AGAINST THE RARE LOAN THAT ISN'T REPAID. WHEN THE UNH FOUNDATION INVESTED $3.06 MILLION IN THE COMMUNITY LOAN FUND IN JULY 2017, THEY WERE THE FOUNDATION'S FIRST IMPACT INVESTMENTS, AND ITS FIRST DIRECTLY IN A NEW HAMPSHIRE ORGANIZATION OR BUSINESS. COMBINED, THEY WERE ALSO ONE OF THE LARGEST INVESTMENTS EVER IN THE COMMUNITY LOAN FUND. THE CONVERGENCE OF SEVERAL FACTORS MADE IT HAPPEN, SAYS ERIK GROSS, THE FOUNDATION'S ASSOCIATE VICE PRESIDENT. UNH IS RIGHTFULLY PROUD OF ITS HISTORY IN THE FIELD OF SUSTAINABILITY, WHICH INCLUDES ITS SUSTAINABILITY INSTITUTE, SEVERAL RELATED MAJORS, RENOWNED WORK ON CLIMATE RESEARCH, AND A STUDENT-LED TRASH-TO-TREASURE PROGRAM. SO, AFTER IT EARNED THE SECOND-HIGHEST STARS (SUSTAINABILITY TRACKING, ASSESSMENT & RATING SYSTEM) RATING IN 2014, ADMINISTRATORS SET THEIR SIGHTS ON THE HIGHEST-POSSIBLE RATING. STARS GRADES UNIVERSITIES IN 18 AREAS RELATED TO SUSTAINABILITY, AND ITS INVESTMENTS WERE ONE IN WHICH UNH HAD ROOM TO GROW. ITS INVESTMENT HERE HELPED BOOST THAT GRADE. AT THE SAME TIME, TOWARD THE END OF AN ONGOING DISCUSSION WITH STUDENTS WHO WANTED UNH TO DIVEST ITS INVESTMENTS IN FOSSIL FUEL COMPANIES, ONE STUDENT SAID, "WELL, YOU KNOW WHAT WOULD BE REALLY AWESOME? IF YOU COULD JUST MAKE AN INVESTMENT IN THE NEW HAMPSHIRE COMMUNITY LOAN FUND." THE FOUNDATION'S INVESTMENT ADVISOR HAD ANALYZED THE COMMUNITY LOAN FUND AND APPROVED IT AS AN IMPACT INVESTMENT, NOT ONLY FOR UNH, BUT FOR ALL ITS CLIENTS. THE UNH FOUNDATION MADE THE TWO INVESTMENTS LAST JULY, AND FOLLOWED THEM WITH ANOTHER $1 MILLION THIS SUMMER. IT'S A NATURAL FIT, SAYS ERIK. "NEW HAMPSHIRE IS PART AND PARCEL OF WHAT UNH IS," HE SAYS. "THE FACT THAT (THE INVESTMENT) FITS WITHIN OUR PORTFOLIO IN A GOOD WAY IS IMPORTANT, BUT AFTER THAT, IT'S A GREAT WAY TO BE ABLE TO HELP THE PEOPLE OF NEW HAMPSHIRE." INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $5 MILLION. THE PHILANTHROPY PROGRAM BROUGHT IN $14.33 MILLION FROM 119 NEW INVESTMENTS IN FY 2018, INCREASING THE TOTAL NUMBER OF CURRENT INVESTORS TO 663. FORM 990, PT. III, LINE 4C THE COMMUNITY LOAN FUND OFFERS FINANCING FOR ESTABLISHED BUSINESSES RANGING FROM SELF-EMPLOYED TRADESMEN TO HIGH-GROWTH, HIGH-MARGIN COMPANIES. SINCE 1984, BUSINESS BUILDER LOANS HAVE PROVIDED LOANS AND BUSINESS EDUCATION TO SUPPORT THE GROWTH AND RESILIENCE OF SMALL BUSINESSES AND THEIR ABILITY TO PROVIDE QUALITY JOBS. SINCE 2002, VESTED FOR GROWTH INVESTMENTS HAVE PROVIDED INVESTMENTS AND BUSINESS EDUCATION TO HELP OWNERS GROW THEIR BUSINESSES BY ENGAGING THEIR PEOPLE AND ADDING VALUE FOR THEIR CUSTOMERS. VESTED FOR GROWTH'S RISK-TOLERANT CAPITAL AND PEER-LEARNING OPPORTUNITIES ALSO HELP OWNERS OF ESTABLISHED BUSINESSES INCREASE PROFITS AND CREATE HIGHER-QUALITY JOBS. SINCE 1996, OUR BUSINESS FINANCE TEAM HAS MADE 713 INVESTMENTS AND LOANS, TOTALING MORE THAN $30 MILLION AND CREATING OR PRESERVING 3,793 JOBS. IN FY 2018, OUR BUSINESS FINANCE TEAM PROVIDED $2.62 MILLION IN FINANCING TO 12 BUSINESSES, CREATING OR PRESERVING 109 JOBS. AHMAD AISSA WANTED TO OFFER A SLICE OF HIS NATIVE CULTURE. WHEN HE MOVED HERE FROM SYRIA WITH HIS NEW HAMPSHIRE-BORN WIFE, HE FOUND MANY PEOPLE CURIOUS ABOUT HIS CULTURE. THEY WERE FRIENDLY, BUT THEIR KNOWLEDGE OF THE COUNTRY WAS SHAPED BY THE STRIFE AND MISERY OF ITS CIVIL WAR. AHMAD WANTED TO BROADEN THEIR PERCEPTIONS. "MAYBE IT'S BETTER TO BRING SOMETHING POSITIVE TO THE TABLE," HE THOUGHT HE ENJOYED COOKING, AND HAD SPENT LONG HOURS STUDYING A FRIEND WHO WAS A PASTRY CHEF IN A FAMOUS DAMASCUS SWEET SHOP. NOW HE TESTED WHAT HE HAD LEARNED. HE MADE A COUPLE PASTRIES "TO IMPRESS MY WIFE AND IN-LAWS," HE LAUGHS. THEIR RESPONSE, COMBINED WITH HIS DISAPPOINTMENT WITH THE MIDDLE EASTERN SWEETS IN STORES HERE, MADE HIM CONSIDER STARTING A BUSINESS. HE RENTED SPACE IN CONCORD AND STARTED EXPERIMENTING WITH DATE COOKIES AND BAKLAVA, A RICH PASTRY MADE WITH FILO, CHOPPED NUTS, AND SWEETENERS. BY 2017, AISSA SWEETS WERE POPULAR IN SPECIALTY MARKETS AND FOOD CO-OPS AROUND THE STATE. HE COULDN'T BUY INGREDIENTS AND PRODUCE THE PASTRIES FAST ENOUGH. AHMAD APPLIED TO THE COMMUNITY LOAN FUND FOR A LOAN TO BUY BULK INGREDIENTS. IMMEDIATELY, HE WAS FILLING ORDERS SIX TIMES LARGER THAN BEFORE. HE WAS ALSO CONNECTED WITH A NATURAL-FOODS CONSULTANT AND A FINANCIAL ADVISOR. "IT WAS A RELIEF TO HAVE SOMEONE TO TALK TO ABOUT THE BUSINESS," HE SAYS. WITH A SOLID BUSINESS PLAN, AND DEMAND STILL CALLING, AHMAD GOT A SECOND LOAN THIS YEAR TO BUY COOKIE-MAKING AND -PACKING MACHINERY. "WITHOUT THIS HELP, WHAT TOOK US MONTHS WOULD HAVE TAKEN US ABOUT TWO YEARS OF EXTREMELY HARD WORK, AND EXPENSES WASTED HERE AND THERE," AHMAD SAYS. INSTEAD, THE MACHINES ARE HUMMING, SALES ARE DOUBLING, AND THE COMPANY IS HIRING. "THINGS ARE HAPPENING THIS YEAR," HE SAYS WITH A HUGE GRIN. "YEAH, DEFINITELY. THEY'RE GOING CRAZY.". FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY STAFF AND THE AUDIT FIRM. A DRAFT OF THE COMPLETED FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE WITH QUESTIONS ADDRESSED AND RESOLVED BY THE AUDIT FIRM. THE FINANCE COMMITTEE VOTES TO RECOMMEND FOR ACCEPTANCE TO THE FULL BOARD, AND MINUTES OF THE COMMITTEE MEETING ARE PRODUCED TO DOCUMENT THE REVIEW AND THE VOTE. A COPY OF THE FORM 990 IS PROVIDED TO THE FULL BOARD OF DIRECTORS. THE BOARD VOTES TO ACCEPT THE FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES EMPLOYEES AND BOARD MEMBERS TO COMPLETE ANNUAL CONFLICT OF INTEREST SURVEYS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DATA REGARDING THE TWO TOP EXECUTIVE POSITIONS WAS GATHERED NATIONALLY, REGIONALLY AND LOCALLY. AN EXECUTIVE COMPENSATION COMMITTEE (ECC) WAS APPOINTED BY THE BOARD OF DIRECTORS AND CONSISTED OF THREE BOARD MEMBERS, WITH ASSISTANCE FROM THE HUMAN RESOURCES DIRECTOR. AFTER A REVIEW OF THE DATA AND DISCUSSION BY THE ECC, IT WAS DETERMINED THAT BOTH POSITIONS ARE IN A REASONABLE RANGE WITH THE DATA REVIEWED AND THAT THE COMPENSATION FOR THE TWO POSITIONS IS APPROPRIATE. COPIES OF COMPARABILITY DATA ANALYSIS ARE ON FILE, AND RECORDS OF THE ECC ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE COMMUNITY LOAN FUND'S FORM 990, YEAR-END AUDITED FINANCIAL STATEMENTS AND ANNUAL REPORTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE POSTED ON THE ORGANIZATION'S WEBSITE FOR PUBLIC INSPECTION. BYLAWS AND CONFLICT OF INTEREST POLICIES ARE ALSO AVAILABLE TO THE PUBLIC UPON REQUEST. THIS IS STATED ON THE ORGANIZATION'S WEBSITE. FORM 990 PART XII, LINE 2C THE COMMUNITY LOAN FUND HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANTS, THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PT IV, LINE 26 AND PT VI-A, LINE 1B THE COMMUNITY LOAN FUND'S BYLAWS REQUIRE THE BOARD OF DIRECTORS TO INCLUDE REPRESENTATIVES OF BORROWER ORGANIZATIONS AND INVESTORS AMONG ITS MEMBERSHIP. DONATIONS AND INVESTMENTS ARE ACCEPTED FROM EMPLOYEES, FROM INDIVIDUAL BOARD MEMBERS, OR FROM ORGANIZATIONS OF WHICH CURRENT AND FORMER MEMBERS ARE SIGNIFICANT EMPLOYEES OR BOARD MEMBERS. ALL TRANSACTION DECISIONS FOLLOW STANDARD POLICIES AND PROCEDURES INCLUDING THOSE COVERING CONFLICT OF INTEREST. THREE MEMBERS OF THE BOARD OF DIRECTORS HAVE PROVIDED INVESTMENTS TOTALING $364,093 TO THE COMMUNITY LOAN FUND AND TWELVE EMPLOYEES HAVE PROVIDED LOANS TOTALING $500,321. BOARD MEMBERS AND STAFF ARE TYPICALLY DONORS TO THE COMMUNITY LOAN FUND. THE TRANSACTIONS ARE PART OF THE COMMUNITY LOAN FUND'S NORMAL COURSE OF BUSINESS AND ARE OPEN TO THE PUBLIC AT LARGE. FORM 990, PT. III, LINE 4D SINCE 1984, OUR COMMUNITY FACILITIES FINANCING HAS SUPPORTED ESSENTIAL SERVICES, INCLUDING CENTER- AND HOME-BASED CHILD DEVELOPMENT SERVICES, BY HELPING NONPROFIT ORGANIZATIONS BUY, RENOVATE, OR BUILD FACILITIES. IN FY 2018, THE COMMUNITY LOAN FUND MADE THREE COMMUNITY FACILITIES LOANS TOTALING $730,750. WITH A BUTTERFLY GARDEN, A CATERPILLAR CAFETERIA, A SNOWSHOE TRAIL AND ROWS OF VEGETABLE PLANTS, THE SANDWICH CHILDREN'S CENTER PRIZES OUTDOOR, NATURE-ORIENTED, LEARNING. BY 2016, ITS SCHOOL-AGE CLASSROOM WAS PUSHING THAT A LITTLE TOO FAR. IT WAS FEELING MORE "OUTDOOR" THAN "INDOOR." YEARS EARLIER, WHEN THE BUILDING WAS A HARDWARE STORE, THAT ROOM HAD BEEN TACKED ON AS STORAGE SPACE. IT WAS DARK, DRAFTY, AND SO COLD IN WINTER THAT THE SCHOOL SHUT OFF THE WATER TO THE BATHROOM SO THE PIPES WOULDN'T FREEZE. WATER FROM A ROCKY LEDGE COURSED UNDER ONE SAGGING CORNER. "THE ROOM WAS CONSTANTLY ON OUR MIND, THINKING IT WAS EVENTUALLY GOING TO FALL OFF THE SIDE OF THIS BUILDING," SAYS CENTER DIRECTOR KARYN AMES. "WE JUST COULDN'T HAVE THE KIDS IN THERE ANYMORE." EARLY EDUCATION CENTERS OFTEN NEED TO FUNDRAISE FOR BASIC SUPPLIES AND VERY RARELY HAVE SAVINGS TO PUT TOWARD MAJOR BUILDING REPAIRS. THAT'S TRUE OF THE SANDWICH CENTER, WHICH CARES FOR CHILDREN FROM INFANTS TO AGE 12, AND WHERE NEARLY HALF THE STUDENTS GET TUITION ASSISTANCE FROM THE STATE OR FROM THE CENTER ITSELF. NEEDING THE ROOM AS QUICKLY AS POSSIBLE, KARYN TURNED TO THE COMMUNITY LOAN FUND FOR A BRIDGE LOAN AFTER A TAX CREDIT GRANT WAS APPROVED FROM THE NEW HAMPSHIRE COMMUNITY DEVELOPMENT FINANCE AUTHORITY. THE GRANT MONEY WOULD ARRIVE OVER TWO YEARS AND PAY FOR MOST OF THE PROJECT, WITH THE REST RAISED FROM THE COMMUNITY. THE LOAN ALLOWED THEM TO DEMOLISH, THEN REBUILD THE CLASSROOM, AND RENOVATE A BATHROOM TO MAKE IT WHEELCHAIR-ACCESSIBLE. THIS SPRING, THE SCHOOL-AGE STUDENTS RETURNED TO A BRIGHT, AIRY CLASSROOM, WITH A VAULTED CEILING AND INSET LIGHTS. BOOKS, PUZZLES, AND GAMES FILLED THE SHELVES AROUND A WOODWORKING BENCH AND A LIGHT TABLE (DONATED BY COMMUNITY LOAN FUND STAFF) WITH MAGNET TILES AND GEOMETRIC SHAPES. AND THE SECTION OF THE ROOM THAT HAD BEEN IN DANGER OF COLLAPSING? IT'S NOW A SUN-COZY READING CORNER.