2018-11-08T10:22:38-06:00 2017-12-31 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2017-01-01 136532871 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC NATI 2126821106 ONE BATTERY PARK PLAZA NO 710 NEW YORK NY 10004 DANIEL MARSH III PRESIDENT AND CEO 2126821106 2018-11-06 1 THOMAS LANNING P00851654 2122970400 2018-11-06 209.3.217.20 2018-11-06 10:05:40 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A999648B7C0F94429496C189B46642AFC33E1A30 2017 2018-06-14 16:35:46Z THE NATIONAL DEVELOPMENT COUNCIL DANIEL MARSH III ONE BATTERY PARK PLAZA NO 710 NEW YORK NY 10004 9993949 0 X WWW.NDCONLINE.ORG X 1972 NY THE MISSION OF THE NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT, INC. DBA (CONT. ON SCHEDULE O) THE NATIONAL DEVELOPMENT COUNCIL (NDC), IS TO CREATE ECONOMIC OPPORTUNITY, AFFORDABLE HOUSING AND TO STRENGTHEN COMMUNITIES IN UNDERSERVED AREAS ACROSS THE UNITED STATES. 6 6 0 7 0 0 4616744 4375706 5481765 5318990 100733 -272943 33112 1626 10232354 9423379 568107 932918 0 0 6649066 5196964 0 0 0 3676215 4394437 10893388 10524319 -661034 -1100940 14603188 13881386 5893786 7209646 8709402 6671740 X THE THREE PRIMARY EXEMPT PURPOSES OF THE NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT DBA THE NATIONAL DEVELOPMENT COUNCIL ARE TO:- ENCOURAGE AND FOSTER BUSINESS OWNERSHIP BY MEMBERS OF DISADVANTAGED GROUPS. (CONT. ON SCHEDULE O)- CONDUCT PROGRAMS TO INFORM AND AID COMMUNITIES IN OBTAINING AND UTILIZING GOVERNMENTAL AND OTHER FUNDS FOR SUPPORT OF LOCAL ECONOMIC DEVELOPMENT.- PROVIDE QUALITY HOUSING FOR LOW INCOME PERSONS. 0 0 3250945 932918 1436665 ENCOURAGE AND FOSTER BUSINESS OWNERSHIP BY MEMBERS OF DISADVANTAGED GROUPS:THROUGH NDC'S SMALL BUSINESS LENDING UNIT, WE HAVE ASSISTED MORE THAN 600 SMALL BUSINESSES OWNED BY DISADVANTAGED INDIVIDUALS OR LOCATED IN LOW-INCOME CENSUS TRACTS ACROSS THE NATION BY PROVIDING LOAN CAPITAL AND BUSINESS COUNSELING. NDC HAS EXTENDED OVER $240 MILLION IN SMALL BUSINESS FINANCING AT BELOW MARKET INTEREST RATES AND WITH ATTRACTIVE TERMS. THE BUSINESS COUNSELING IS PROVIDED AT NO COST TO THE SMALL BUSINESSES. OVER THE LAST SEVERAL YEARS, OUR SMALL BUSINESS LOAN FUND HAS RECEIVED NATIONAL RECOGNITION FROM A VARIETY OF INSTITUTIONS: (CONT. ON SCHEDULE O) - NDC'S TWO CDFI'S THE GROW AMERICA FUND AND NDC COMMUNITY IMPACT LOAN FUND OPERATE IN FIVE OF THE TEN MOST DISTRESSED CITIES IN AMERICA. CLEVELAND, BUFFALO, NEWARK, CINCINNATI AND SAN BERNARDINO HAVE DISTRESS RATINGS FROM 93.6 TO 99.9 OUT OF 100 ACCORDING TO THE ECONOMIC INNOVATION GROUP DISTRESSED COMMUNITY INDEX. BUSINESSES FINANCED BY NDC HAVE CREATED OVER 15,500 JOBS AND 12,000 OF THOSE JOBS ARE CONSIDERED FILLED BY LOW AND MODERATE-INCOME PERSONS.- JPMORGAN CHASE AWARDED NDC'S SMALL BUSINESS LENDING UNIT TWO GRANTS TOTALING $8.3 MILLION TO MAKE SMALL BUSINESS LOANS IN DISTRESSED AND UNDERSERVED COMMUNITIES ACROSS THE COUNTRY. WORKING WITH LOCAL CDFIS, CDE'S AND CDCS, NDC PROVIDES TECHNICAL ASSISTANCE AND FINANCE TRAINING AND USES NDC'S GROW AMERICA FUND TO MAKE LOANS TO SMALL BUSINESSES WHO INVEST IN THEIR COMMUNITIES AND CREATE JOBS. THE $33 MILLION IN FINANCING EXTENDED THROUGH THE CHASE PROGRAM HAS PROVIDED APPROPRIATELY PRICED CAPITAL TO 41 SMALL BUSINESSES WHO HAVE CREATED OR RETAINED 1,500 JOBS. IN ADDITION TO THE CHASE FUNDING, NDC HAS RECEIVED GRANTS AND PRIS FROM MORGAN STANLEY, DISCOVER BANK, THE FORD FOUNDATION, THE CLEVELAND COMMUNITY FOUNDATION, THE BURTON D. MORGAN FOUNDATION, THE LONGWOOD FOUNDATION, TACOMA COMMUNITY FOUNDATION, THE SEATTLE FOUNDATION AND THE CDFI FUND TO SUPPORT SMALL BUSINESS LENDING IN DISTRESSED COMMUNITIES. - IN 2015 AND 2017, THE UNITED STATES DEPARTMENT OF COMMERCE, ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) MADE TWO CREDIT FACILITIES TOTALING $1.6 MILLION AVAILABLE AT A 0% RATE OF INTEREST TO MAKE LOANS TO DISADVANTAGED BUSINESSES IN DISTRESSED COMMUNITIES IN WASHINGTON STATE. IN 2016, NDC MADE ITS FIRST LOAN IN THE PROGRAM AND IS CONTINUING TO LEND UNDER THAT PROGRAM. NDC IS CURRENTLY NEGOTIATING WITH EDA TO ACQUIRE FUNDS TO EXPAND THE LENDING FOOTPRINT.- NDC THROUGH ITS CDFI, NDC COMMUNITY IMPACT LOAN FUND HAS ENTERED INTO A LENDING PARTNERSHIP WITH THE NATIONAL URBAN LEAGUE, THE URBAN EMPOWERMENT FUND AND MORGAN STANLEY TO MAKE LOANS AVAILABLE TO AFRICAN-AMERICAN BORROWERS IN SELECTED URBAN MARKETS ACROSS THE UNITED STATES. THE FIRST PROGRAM, THE GREATER CLEVELAND CAPITAL ACCESS FUND STARTED IN CLEVELAND, OHIO ON DECEMBER 31, 2016 AND TO DATE HAS MADE 24 LOANS TO BORROWERS WHO HAVE BEEN PARTICIPATING IN THE GREATER CLEVELAND URBAN LEAGUE'S ENTREPRENEURSHIP CENTER. IN NOVEMBER OF 2017, THE CAPITAL ACCESS FUND EXPANDED TO BROWARD COUNTY, FL. THE MINORITY LENDING PROGRAM IS SUPPORTED BY A $1 MILLION GRANT FROM THE STATE OF FLORIDA AND UP TO A $5 MILLION CREDIT FACILITY PROVIDED BY MORGAN STANLEY.THE FOLLOWING ARE SOME EXAMPLES OF DISADVANTAGED BUSINESSES THAT NDC'S SMALL BUSINESS LOAN PROGRAMS HAVE RECENTLY ASSISTED: - URBAN KUTZ, LLC: IN 2017, NDCCILF LOANED $105,000 TO URBAN KUTZ BARBERSHOP WHICH ALLOWED THE OWNER WAVERLY WILLS TO PURCHASE HIS BUILDING AND EXPAND HIS BUSINESS INTO A SECOND STOREFRONT. WAVERLY WAS FORMERLY INCARCERATED AND WHEN POSSIBLE OFFERS JOBS AND TRAINING TO FORMER INMATES LOOKING TO TURN THEIR LIVES AROUND.- LONG BEACH CREAMERY: DINA AMADRIL STARTED LONG BEACH CREAMERY IN 2015 UTILIZING PERSONAL RESOURCES. MS. AMADRIL BUILT OUT AND OPENED HER 1,100 SF ICE CREAM SHOP IN NORTH LONG BEACH. THE COMPANY QUICKLY GREW TO EMPLOY 12-PART TIME EMPLOYEES AND IS OPEN TUESDAY THROUGH SUNDAY FROM 12 NOON TO 10PM. EACH EMPLOYEE HAS A PART IN THE ICE CREAM MAKING PROCESS. THEY SERVE ABOUT 8,000 ICE CREAM LOVERS A MONTH. LBC ICE CREAM IS MADE WITH LOCAL, ORGANIC INGREDIENTS. IT IS AN ARTISAN PRODUCT WITH A CORRESPONDING PRICE TAG.AS SALES CONTINUED TO GROW, LBC NEEDED ADDITIONAL CAPACITY IN THE PRODUCTION KITCHEN. GAF ASSISTED BY FUNDING AN EXPANDED KITCHEN AND PROVIDING MONIES FOR THE OPENING A SECOND LOCATION IN DOWNTOWN LONG BEACH IN A HEAVY FOOT TRAFFIC AREA.GAF PROVIDED A LOAN OF $275,000 THAT INCLUDED $70,000 FOR MACHINERY & EQUIPMENT, $160,000 IN TENANT IMPROVEMENTS WITH $15,000 CONTINGENCY, $15,000 IN PWC FOR ARCHITECT & PERMIT FEES AND $15,000 IN SOFT & CLOSING COSTS. - SICILIA PIZZA LLC: FOUNDED BY AMRO HARARAH IN 1992, SICILIA PIZZA LLC HAS OPERATED AT VARIOUS LOCATIONS IN DOWNTOWN SALT LAKE CITY ALWAYS RENTING SPACE WHILE PREPARING HANDMADE ARTISAN PIZZAS, CALZONES AND SANDWICHES TO ITS LOYAL CLIENTELE. GAF ASSISTED SICILIA IN PURCHASING A COMMERCIAL CONDOMINIUM THAT THEY HAD BEEN RENTING FOR 6 YEARS. THE GAF LOAN WAS FOR $650,000 WITH A TERM OF TWENTY-FIVE YEARS AT A VARIABLE INTEREST RATE OF THE WALL STREET JOURNAL PRIME PLUS 1.00%.- CAMPANELLA AUTO & TIRE: PAUL CAMPANELLA'S AUTO & TIRE (PCA) WAS FOUNDED IN 1989 IN WILMINGTON, DELAWARE PROVIDING A WIDE-RANGE OF AUTOMOTIVE REPAIR AND SERVICING INCLUDING OIL CHANGES, TIRE ROTATIONS, BRAKE REPAIRS, TIRE REPLACEMENTS AS WELL AS MORE COMPLEX WORK SUCH AS CUSTOM EXHAUST AND CHASSIS REPAIR. PCA HAS TWO LOCATIONS IN THE WILMINGTON METROPOLITAN AREA. - THE COMPANY RECEIVED $2,475,000 IN FUNDING FROM GAF. THE FIRST LOAN WAS USED TO REFINANCE A SHORT TERM MORTGAGE OF $841,000. THE SECOND LOAN WAS USED TO RENOVATE A NEW FACILITY AND PURCHASE NEW EQUIPMENT AT A TOTAL OF $1,634,000. THE NEW FACILITY FEATURES 12-INDOOR BAYS AND LIFTS. SIMILARLY, THE EXPANSION WILL ALSO ALLOW FOR A NEW OFFICE AND RECEPTION AREA FOR CUSTOMERS AS THEY WAIT. GAF FINANCING WAS PROVIDED AT A FIXED RATE OF 3.36%. - SURESITE CONSULTING: FOUNDED BY JERALD WARSAW IN 1999, SURESITE PROVIDES TURNKEY TELECOMMUNICATION INFRASTRUCTURE DEPLOYMENT SERVICES. SURESITE PROVIDES CUSTOMERS BOTH THE GUIDANCE AND THE SERVICE TO SUCCESSFULLY BUILD AND AUGMENT NETWORKS AND INFRASTRUCTURE. SURESITE ASSISTS ITS CLIENTS IN REAL ESTATE AND LAND DEVELOPMENT, SITE SELECTION, NETWORK SITE DEVELOPMENT, PROJECT MANAGEMENT, ARCHITECTURE, ENGINEERING AND CONSTRUCTION. THE COMPANY UNDERSTANDS ALL ASPECTS OF WIRELESS, SMALL CELL, DAS AND WIFI INFRASTRUCTURE AND NETWORK DEPLOYMENT. THE COMPANY'S STAFF HAS ENGINEERED, LEASED, PERMITTED AND BUILT 1000S OF NETWORKS ACROSS THE COUNTRY. THE COMPANY HAS GROWN SIGNIFICANTLY OVER THE LAST THREE YEARS. THIS GROWTH COUPLED WITH ADDITIONAL EXPANSION CAUSED A NEED FOR ADDITIONAL WORKING CAPITAL. GAF WORKED WITH THE COMPANY'S BANK TO FORMULATE A PROPER PERMANENT WORKING CAPITAL STRUCTURE AND FUND NEW EQUIPMENT PURCHASE. GAF'S $1,540,000 LOAN FUNDED $670,000 TO REFINANCE EXISTING DEBT, $350,000 FOR NEW MACHINERY AND EQUIPMENT TO SERVICE CONTRACTS, UPGRADE COMPANY TECHNOLOGY AND $520,000 IN SUBORDINATE, PERMANENT WORKING CAPITAL AND FOR SOFT AND CLOSING COSTS.- COYOTE PUB AND GRILL: FACED WITH SHORT-TERM DEBT AND INSUFFICIENT EXPANSION CAPITAL, A FAMILY-OWNED BUSINESS TURNED TO GAF FOR SUPPORT. GAF RESPONDED BY PROVIDING CAPITAL TO THIS FAMILY-OWNED RESTAURANT IN PORT ANGELES, WASHINGTON TO REFINANCE ITS HIGH-INTEREST, SHORT-TERM DEBT AND ADDITIONAL FUNDS TO COMPLETE THE BUILD-OUT AND PURCHASE EQUIPMENT. FACING OUT-THE-DOOR LINES DURING BUSY SUMMER MONTHS AND NEARLY 30 PERCENT ANNUAL SALES GROWTH, THE MCQUAYS EXPANDED THE RESTAURANT TO ACCOMMODATE MORE CUSTOMERS. IN 2016, THEY DECIDED TO FURTHER EXPAND OPERATIONS, THIS TIME ADDING A SEPARATE VENTURE: COYOTE BBQ PUB. LOCATED IN THE SAME BUILDING ADJACENT TO KOKOPELLI GRILL, THE NEW RESTAURANT OFFERS A CASUAL AND LOWER-COST OPTION, SERVING SOUTHERN BARBEQUE FOOD AND CRAFT BEER AND COCKTAILS.GAF WORKED WITH THE BUSINESS, AND FUNDED A LOAN OF $575,000 WITH A 15-YEAR TERM AND INTEREST RATE OF WSJ PRIME PLUS 0.5 PERCENT, ADJUSTED QUARTERLY. THE LOAN ALLOWED THE BUSINESS TO SAVE MONEY BY REFINANCING $435,000 IN TWO SHORT-TERM LOANS USED TO FUND THE INITIAL COYOTE BBQ PUB BUILD-OUT. IN ADDITION, LOAN PROCEEDS FUNDED $105,000 FOR FINAL TENANT IMPROVEMENTS, AND $35,000 FOR KITCHEN EQUIPMENT AND CLOSING COSTS. 1217214 2005278 INFORM AND AID COMMUNITIES IN OBTAINING AND UTILIZING GOVERNMENTAL FUNDS FOR SUPPORT OF LOCAL ECONOMIC DEVELOPMENT:DURING THE YEAR, NDC WORKED WITH MORE THAN 100 COMMUNITIES PROVIDING TECHNICAL ASSISTANCE AND GUIDANCE IN CARRYING OUT ECONOMIC AND COMMUNITY DEVELOPMENT STRATEGIES, PROGRAMS AND PROJECTS AND IN DEVELOPING PUBLIC FACILITIES. THROUGH THESE SERVICES, NDC ACHIEVED FINANCING FOR PROJECTS AND PROGRAMS, WITH GOVERNMENT AND PRIVATE SECTOR FUNDS, IN EXCESS OF $2 BILLION. A SAMPLE OF THE PROJECTS FOR WHICH NDC IS PROVIDING TECHNICAL ASSISTANCE AND TRAINING AROUND THE COUNTRY (CONT. ON SCHEDULE O) INCLUDE:- IN 2016, NDC, WORKING WITH THE CITY OF SCRANTON, PA ENTERED INTO A 49- YEAR CONCESSION LEASE TO OPERATE AND IMPROVE THE ON-STREET AND OFF-STREET PARKING ASSETS OF THE CITY. THE CITY OF SCRANTON OPERATED UNDER EXTREME FISCAL CONSTRAINTS FOR THE LAST TWENTY YEARS. THE PARKING CONCESSION WAS PART OF A LARGER PLAN TO RESTRUCTURE THE CITY'S FINANCES AND RETURN THE COMMUNITY TO A SOUND FINANCIAL FOOTING. THE $40 MILLION TAX-EXEMPT FINANCING PROVIDED FUNDS THAT ALLOWED THE CITY TO MEET ITS UNFUNDED PENSION LIABILITY AND REFINANCE EXISTING DEBT. IN 2017 NDC COMMENCED THE REORGANIZATION OF THE OFF STREET PARKING SYSTEM BY INCLUDING THE STEAM TOWN MALL IN THE PUBLIC PARKING INVENTORY. ALSO, CONSTRUCTION CONTRACTS WERE BID AND AN AGREEMENT REACHED WITH THE CITY AND THE SPA TO PURCHASE AND INSTALL A NEW ON STREET METER SYSTEM. - WORKING WITH THE NATIONAL URBAN LEAGUE, THE URBAN EMPOWERMENT FUND, THE STATE OF FLORIDA, MORGAN STANLEY AND CITI BANK, NDC HAS FORMED A PARTNERSHIP WITH THE URBAN LEAGUE OF BROWARD COUNTY TO INCREASE AFRICAN-AMERICAN SMALL BUSINESSES' ACCESS TO CREDIT. THE PROGRAM WORKS WITH BUSINESSES TO READY THE ENTREPRENEUR FOR ACQUIRING DEBT, STRUCTURES DEBT THAT MEETS THE NEEDS OF THE BUSINESS, AND PROVIDES MENTORING TO THE BUSINESS AFTER THE LOAN HAS BEEN MADE. NDC LAUNCHED THE FLORIDA CAPITAL ACCESS FUND IN NOVEMBER OF 2017 AND TRAINED THE LOCAL STAFF AND CLOSED SEVEN SMALL BUSINESS LOANS IN THE FIRST TEN- MONTHS OF THE PROGRAM. THE PROGRAM WILL BE EXPANDED TO JACKSONVILLE IN 2018. - IN 2017, NDC TRAINING DELIVERED A TOTAL OF 380 DAYS OF TRAINING TO OVER 3,000 STUDENTS DRAWN FROM NONPROFIT COMMUNITY DEVELOPMENT CORPORATIONS, COMMUNITY DEVELOPMENT FINANCE INSTITUTIONS, FEDERAL, STATE AND LOCAL GOVERNMENT, COMMUNITY FOUNDATIONS AND OTHER ORGANIZATIONS WORKING IN ECONOMIC, HOUSING AND COMMUNITY DEVELOPMENT. IN ADDITION TO NDC'S NATIONALLY RECOGNIZED CERTIFICATION TRAINING FOR HOUSING AND ECONOMIC DEVELOPMENT FINANCE PROFESSIONALS, NEW COURSES WERE DEVELOPED ON BEHALF OF THE USDA TO ENHANCE STAFF UNDERWRITING SKILLS FOR CRITICAL RURAL SMALL BUSINESS LENDING, COMMUNITY FACILITIES, INCLUDING HOSPITALS AND PUBLIC SAFETY BUILDINGS. IN ADDITION, NDC DEVELOPED A TRAINING PROGRAM FOR USDA TO TEACH UNDERWRITING AND PROJECT STRUCTURING SKILLS NECESSARY WHEN COMBINING A B&I LOAN GUARANTEE WITH NEW MARKETS TAX CREDITS. THIS COURSE WAS TAUGHT IN BOTH A CLASSROOM SETTING AND VIA WEBINAR. IN 2017, NDC WORKING AGAIN WITH THE CONNECTICUT HOUSING FINANCE AUTHORITY AND THE CONNECTICUT HOUSING AGENCY EXPANDED THE CONNECTICUT HOUSING ACADEMY TO SUPPORT THE SKILLS OF NONPROFITS WORKING TO CREATE AND PRESERVE AFFORDABLE HOUSING IN THE STATE. THE ACADEMY PROVIDES TRAINING AND TECHNICAL ASSISTANCE IN THE CREATION AND PRESERVATION OF AFFORDABLE RENTAL HOUSING TO, HOUSING AUTHORITIES, NONPROFIT OWNERS AND DEVELOPERS OF AFFORDABLE HOUSING IN THE STATE. - NDC IS CONTINUING ITS WORK WITH THE CITY OF SALT LAKE, SALT LAKE COUNTY AND THE CITY OF OGDEN, ALONG WITH A DIVERSE GROUP OF STAKEHOLDERS IN SALT LAKE'S LOW INCOME COMMUNITIES, ZION AND SYNCHRONY BANKS AND FOUNDATIONS INCLUDING AMERICAN EXPRESS, THE UTAH FOUNDATION, NEIGHBORWORKS, AND MORGAN STANLEY TO CREATE A LOCALLY FOCUSED COMMUNITY DEVELOPMENT CORPORATION WHOSE MISSION IS TO CREATE ECONOMIC OPPORTUNITY FOR LOW INCOME RESIDENTS BY STIMULATING INVESTMENT AND CREATING JOBS FOR THE UNEMPLOYED. NDC HAS BEEN PROVIDING TA, TRAINING AND CAPACITY BUILDING SERVICES, MAKING SMALL BUSINESS LOANS THROUGH OUR GROW AMERICA FUND AND GREATER SALT LAKE DEVELOPMENT CORPORATION STRUCTURING AFFORDABLE HOUSING PROJECTS, AND OFFERING DEVELOPMENT SERVICES. - IN NEW ROCHELLE, NEW YORK, NDC PROVIDED COMMUNITY/ECONOMIC DEVELOPMENT TECHNICAL ASSISTANCE TO THE CITY, WHICH RESULTED IN THE SELECTION OF A MASTER DEVELOPER FOR THE TOD DOWNTOWN CLUSTER DEVELOPMENT. THE EXECUTED MASTER DEVELOPMENT AGREEMENT ALLOWS FOR 12 MILLION SQUARE FEET OF OVERALL DEVELOPMENT INCLUDING 2.4 MILLION SQUARE FEET OF OFFICE, 1 MILLION SQUARE FEET OF RETAIL, 6,370 UNITS OF MARKET RATE AND AFFORDABLE HOUSING AND 1,200 HOTEL ROOMS. NDC ALSO ASSISTED THE CITY IN DRAFTING A NEW UNIFORM TAX EXEMPTION POLICY AND A COMMUNITY BENEFIT AGREEMENT. IN 2017, THE NEW ROCHELLE INDUSTRIAL DEVELOPMENT AGENCY APPROVED OVER $1 BILLION IN NEW PROJECTS AS A RESULT OF THE ADOPTION OF OVERLAY ZONING AND A STREAMLINED PROJECT APPROVAL PROCESS. - THROUGH A CONTINUING PARTNERSHIP WITH NATIONAL COALITIONS LIKE THE NEW MARKETS TAX CREDIT COALITION, OFN, THE CDFI COALITION, THE NATIONAL RURAL HOUSING COALITION, NACEDA AND OTHERS, NDC IS ABLE TO IDENTIFY AND PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO LOW-INCOME COMMUNITIES ENGAGED IN THE CREATION OF JOBS, AFFORDABLE HOUSING AND PUBLIC INFRASTRUCTURE. 3092179 1878673 TO PROVIDE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES:NDC CONDUCTS TRAINING AND PROVIDES COUNSELING AND TECHNICAL ASSISTANCE TO DISADVANTAGED COMMUNITIES AND NONPROFIT ORGANIZATIONS IN SUPPORT OF PROVIDING HOUSING FOR LOW-INCOME PERSONS. DURING THE YEAR, NDC WORKED WITH MORE THAN 100 COMMUNITIES AND NONPROFIT ORGANIZATIONS AND PROVIDED TRAINING TO MORE THAN 1,800 PRACTITIONERS IN HOUSING DEVELOPMENT FOR LOW-INCOME PERSONS AND IN LOW-INCOME COMMUNITIES. OUR TECHNICAL ASSISTANCE PROVIDED TO NONPROFIT SERVICE PROVIDERS AND COMMUNITY ORGANIZATIONS AND THROUGH NDC'S NONPROFIT HOUSING AFFILIATE AND LOW INCOME HOUSING FUND SPURRED $85 MILLION (CONT. ON SCHEDULE O) IN EQUITY INVESTMENT THAT RESULTED IN PUBLIC AND PRIVATE SECTOR FINANCING TOTALING MORE THAN $200 MILLION, CREATING OR REHABILITATING OVER 1,000 HOUSING UNITS FOR LOW INCOME PERSONS, FAMILIES, THE ELDERLY, AND PERSONS WITH SPECIAL NEEDS. THROUGH OUR HOUSING DEVELOPMENT AFFILIATES, NDC HAS DEVELOPED OVER 10,000 UNITS OF HOUSING FOR LOW INCOME AND DISADVANTAGED PERSONS. COLLABORATING WITH COMMUNITIES AND/OR LOCAL NOT-FOR-PROFITS, HOUSING AUTHORITIES AND FOR PROFIT DEVELOPERS WE INITIALLY EVALUATE THE ROLE THAT WE SHOULD PLAY IN A PARTICULAR AFFORDABLE HOUSING PROJECT, IDENTIFY THE DEVELOPMENT TEAM, DESIGN THE PROJECT AND STRUCTURE AND CLOSE THE FINANCING. MORE THAN 60% OF OUR PROJECTS ARE UNDERTAKEN WITH NOT-FOR-PROFIT PARTNERS AND OVER 35% OF OUR PROJECTS ARE LOCATED IN RURAL AREAS ACROSS THE COUNTRY. WHILE THE MAJORITY OF OUR PROJECTS INVOLVE NEW CONSTRUCTION, WE HAVE COMPLETED NUMEROUS REHABILITATIONS AND HISTORIC REHABILITATIONS. A SAMPLE OF SOME OF OUR PROJECTS THAT WE ARE WORKING ON OR HAVE COMPLETED OVER THE LAST SEVERAL YEARS INCLUDE: - WORKING WITH THE STATE OF CONNECTICUT HOUSING FINANCE AGENCY AND THE CONNECTICUT DEPARTMENT OF HOUSING, NDC IS CONTINUING TO MANAGE THE CONNECTICUT HOUSING ACADEMY, WHICH PROVIDES TRAINING, TECHNICAL ASSISTANCE, AND FINANCING UNDER THE STATE'S AFFORDABLE HOUSING CREATION AND PRESERVATION PROGRAM. THE PROGRAM IS DESIGNED TO BUILD NEW AND KEEP EXISTING AFFORDABLE HOUSING UNITS THAT HAVE COMPLETED THEIR REGULATORY COMPLIANCE PERIODS FROM BECOMING MARKET RATE HOUSING. IN MARCH OF 2016, NDC CLOSED THE FIRST $31.8 MILLION OF A THREE-PHASE REHABILITATION AND ADAPTIVE-REUSE OF THE HISTORIC PONEMAH MILLS IN NORWICH, CT. THE MILL OPENED IN 2017 AND IS CURRENTLY IMPLEMENTING PHASE TWO WHICH WILL INCLUDE 121 UNITS OF MIXED-INCOME, GENERAL OCCUPANCY FAMILY HOUSING. THE MILL IS LISTED ON THE NATIONAL REGISTER OF HISTORIC PLACES AND IS SITUATED IN THE LAST GREEN VALLEY, A NATIONAL HERITAGE CORRIDOR. THE TOTAL PROJECT WHEN COMPLETED WILL OCCUPY 650,000 SQUARE FEET BUT THIS FIRST PHASE INCLUDES 116 UNITS OF MIXED-INCOME RENTAL HOUSING. THE FUNDING FOR THE PROJECT INCLUDED BOTH LOW INCOME HOUSING TAX CREDITS AND HISTORIC PRESERVATION TAX CREDITS. IN SEATTLE, WASHINGTON, NDC INVESTED IN SAND POINT FAMILY HOUSING AND SANTOS PLACE A 77-UNIT PERMANENT SUPPORTIVE HOUSING AFFORDABLE RENTAL PROJECT. THE FINANCING WILL ALLOW FOR THE RENOVATION OF A 3 BUILDING FACILITY THAT IS CURRENTLY 100% OCCUPIED WITH A LONG WAITING LIST. THE PROJECT TARGETS FAMILIES TRANSITIONING FROM HOMELESSNESS. - THE SANCTUARY AT BROOKLYN CENTER LOCATED IN BROOKLYN CENTER, MINNESOTA IS A NEW CONSTRUCTION 158-UNIT SENIOR-RESTRICTED (OVER 62) AFFORDABLE HOUSING PROJECT. THE PROJECT WILL BE OPERATED AS AN AFFORDABLE ASSISTED LIVING FACILITY FINANCED IN PART WITH LOW-INCOME HOUSING TAX CREDIT EQUITY PROVIDE BY NDC. THIS FACILITY WILL BE REGISTERED AS A HOUSING WITH SERVICES ESTABLISHMENT PROVIDER WITH BOTH THE STATE AND THE COUNTY AND THEREFORE WILL BE ELIGIBLE TO RECEIVE HEALTH RELATED AND OTHERS SERVICES FROM GOVERNMENT PROVIDERS.- THE MCGREGOR SENIOR ASSISTED LIVING PROJECT IS A 90-UNIT NEW CONSTRUCTION PROJECT LOCATED ON THE MCGREGOR HOME CAMPUS IN EAST CLEVELAND, OHIO. MCGREGOR HOME IS A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) THAT CONSISTS OF AN INDEPENDENT LIVING COMPONENT, AN ASSISTED LIVING COMPONENT AND A NURSING CARE FACILITY ORIGINALLY BUILT IN 1940. THE PROJECT WILL OFFER STUDIO AND ONE-BEDROOM UNITS AND USE A MEDICAID WAIVER TO AFFORD THE SERVICES WITHIN THE ASSISTED LIVING FACILITY BY FUNDING THE COST OF MEALS, HOUSEKEEPING AND PERSONAL CARE SERVICES. - WORKING WITH THE NATIONAL RURAL HOUSING COALITION, RURAL LISC, CDFI'S, NEIGHBORHOOD HOUSING CORPORATIONS AND VARIOUS STATE AFFORDABLE HOUSING COALITIONS, NDC PROVIDES CONTINUING TECHNICAL ASSISTANCE, TRAINING AND FINANCIAL SUPPORT TO RURAL HOUSING ORGANIZATIONS ACROSS THE NATION. 7560338 1 1 0 1 0 0 0 0 0 0 1 0 0 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 1 1 0 0 0 1 45 0 1 0 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X ADAM ENNIS 2126821106 ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 BURT TAUBER OUTGOING BOARD MEMBER 0.31 X 0 0 0 DANIEL MARSH III PRESIDENT 47.30 7.70 X X 304700 0 53082 GARY PERLOW BOARD MEMBER 3.15 2.40 X 0 0 0 JOHN DOWNS BOARD MEMBER 3.40 2.40 X 0 0 0 ROBERT DAVENPORT BOARD MEMBER 27.20 32.80 X 0 0 0 SAUNDRA JOHNSON HUDSON CHAIRWOMAN 3.70 3.05 X 0 0 0 SETH BONGARTZ SECRETARY 3.70 3.05 X 0 0 0 TOMASITA DURAN BOARD MEMBER 3.70 2.55 X 0 0 0 GERTRUDE SCRIVEN TREASURER 46.50 3.50 X 152744 0 39392 ADAM ENNIS CFO 5.00 45.00 X 151227 0 48328 ANGELA BUTLER PRODUCT MANAGER 40.50 9.50 X 171062 0 60675 ANN VOGT PRODUCT MANAGER 8.25 46.75 X 270907 0 41212 DAVID J TREVISANI PRODUCT MANAGER 5.00 45.00 X 171229 0 63028 JOHN PALYO PRODUCT MANAGER 5.50 44.50 X 216258 0 56854 KEVIN GREMSE REGIONAL MANAGER 47.00 3.00 X 181112 0 44528 STEPHANIE DUGAN PRODUCT MANAGER 45.00 5.00 X 177377 0 50702 AMY DOSEN CEF DIRECTOR OF ACQUISITIONS 45.00 X 194760 0 26993 CHARLEY DEPEW SENIOR DIRECTOR 42.30 7.70 X 166843 0 39028 JANE CAMPBELL SENIOR DIRECTOR 43.20 1.80 X 213430 0 39071 MICHAEL GRIFFIN CEF DIRECTOR OF INVESTOR RELATIONS 2.25 42.75 X 232572 0 49228 THOMAS JACKSON PRODUCT MANAGER 47.00 3.00 X 172189 0 63885 2776410 0 676006 38 0 1 0 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 AUDITING AND TAX SERVICES 268780 1 3834170 541536 4375706 TECHNICAL ASSISTANCE 541900 3472726 3472726 TRAINING REVENUE 541900 1765883 1765883 LOAN INTEREST 541900 80381 80381 5318990 13754 13754 283873 570570 -286697 -286697 -286697 MISCELLANEOUS REVENUE 900099 1626 1626 1626 9423379 5320616 0 -272943 932918 932918 1942298 1530603 411695 2357609 1860643 496966 216808 165268 51540 423640 336100 87540 256609 201699 54910 97886 12381 85505 320608 40553 280055 895 895 732304 411062 321242 4117 1933 2184 235651 186893 48758 364713 89319 275394 364879 292852 72027 639072 549741 89331 262675 262675 95133 76354 18779 149009 149009 ACADEMY EXPENSE 298572 298572 TRAINING SITES 249178 249178 ADMINISTRATION 101302 101302 SUBS. AND MEMBERSHIPS 97543 53613 43930 380900 270656 110244 10524319 7560338 2963981 0 393762 919483 2947869 2182038 2052146 1641465 8038043 8038043 133367 51800 1303316 893561 324100 409755 188004 497493 495110 108000 30787 33309 14603188 13881386 615013 1164284 350000 151273 159044 4777500 5886318 5893786 7209646 X 7962409 5682273 746993 989467 8709402 6671740 14603188 13881386 X -1100940 18182 -954904 X X 0 1 X 1 0 X 6289678 2881261 4089562 4616744 4375706 22252951 6239618 5705203 5525288 5481765 5318990 28270864 12529296 8586464 9614850 10098509 9694696 50523815 0 0 0 50523815 160214 255729 215571 124010 13754 769278 160214 255729 215571 124010 13754 769278 33112 1626 34738 12689510 8842193 9830421 10255631 9710076 51327831 0.98430 0.97980 0.01500 0.01960 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DISTRIBUTION FROM PARTNERSHIP - 2016 AMOUNT: $ 33,112. MISCELLANEOUS - 2017 AMOUNT: $ 1,626. 140437 140437 10383882 10524319 676216 169054 0 0 682573 789111 694669 676216 2842569 4263854 136009 125446 104305 140437 506197 170643 197278 173667 169054 710642 1065963 202452 20846 181606 1100864 872715 228149 409755 ACCRUED NON-QUALIFIED PENSION LIABILITY 537185 ACCRUED DEFINED BENEFIT PLAN PENSION LIABILITY 4398752 DEFERRED RENT 428316 DUE TO AFFILIATES 522065 5886318 X 9441561 18182 18182 9423379 0 9423379 10524319 0 10524319 0 10524319 PART X, LINE 2: THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ORGANIZATION, AMONG OTHERS. THERE ARE NO UNCERTAIN TAX POSITIONS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016. THE ORGANIZATION FILES FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WITH THE INTERNAL REVENUE SERVICE ANNUALLY. AT DECEMBER 31, 2017, THE ORGANIZATION'S FORM 990 FOR THE YEARS ENDED 2014 THROUGH 2017 REMAIN ELIGIBLE FOR EXAMINATION BY THE IRS. 1 EDISON DEVELOPMENT CORP 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 463757191 501(C)(3) 14232 OPERATING SUPPORT GREATER SALT LAKE DEVELOPMENT CORP 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 463784495 501(C)(3) 40442 OPERATING SUPPORT GROW AMERICA FUND INC 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 133641265 501(C)(3) 213049 OPERATING SUPPORT NDC COMMUNITY IMPACT LOAN FUND 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 133678913 501(C)(3) 500000 OPERATING SUPPORT NDC SUPPORT I INC 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 134156877 501(C)(3) 40195 OPERATING SUPPORT FRIENDS OF HILDENE INC PO BOX 377 MANCHESTER VT 05254 510201160 501(C)(3) 62500 UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE STOREFRONT ACADEMY 70 E 129TH STREET NEW YORK NY 10035 132940671 501(C)(3) 62500 UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE 7 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS BY REQUIRING THE GRANTEE TO PROVIDE PERIODIC REPORTS THAT DESCRIBE THE USE OF THE GRANT FUNDS. THE ORGANIZATION ALSO SHARES BOARD MEMBERS WHO CAN MONITOR THE USE OF FUNDS. X X X X X 0 0 0 0 0 0 0 0 0 DANIEL MARSH III PRESIDENT 298604 0 0 0 6096 0 24000 0 29082 0 357782 0 0 0 GERTRUDE SCRIVEN TREASURER 149163 0 0 0 3581 0 24000 0 15392 0 192136 0 0 0 ADAM ENNIS CFO 150984 0 0 0 243 0 10500 0 37828 0 199555 0 0 0 ANGELA BUTLER PRODUCT MANAGER 170612 0 0 0 450 0 18000 0 42675 0 231737 0 0 0 ANN VOGT PRODUCT MANAGER 267343 0 0 0 3564 0 24000 0 17212 0 312119 0 0 0 DAVID J TREVISANI PRODUCT MANAGER 169784 0 0 0 1445 0 24000 0 39028 0 234257 0 0 0 JOHN PALYO PRODUCT MANAGER 215237 0 0 0 1021 0 24000 0 32854 0 273112 0 0 0 KEVIN GREMSE REGIONAL MANAGER 180284 0 0 0 828 0 6000 0 38528 0 225640 0 0 0 STEPHANIE DUGAN PRODUCT MANAGER 175984 0 0 0 1393 0 24000 0 26702 0 228079 0 0 0 AMY DOSEN CEF DIRECTOR OF ACQUISITIONS 194320 0 0 0 440 0 15750 0 11243 0 221753 0 0 0 CHARLEY DEPEW SENIOR DIRECTOR 164784 0 0 0 2059 0 0 0 39028 0 205871 0 0 0 JANE CAMPBELL SENIOR DIRECTOR 210484 0 0 0 2946 0 24000 0 15071 0 252501 0 0 0 MICHAEL GRIFFIN CEF DIRECTOR OF INVESTOR RELATIONS 231584 0 0 0 988 0 12000 0 37228 0 281800 0 0 0 THOMAS JACKSON PRODUCT MANAGER 170744 0 0 0 1445 0 12000 0 51885 0 236074 0 0 0 FORM 990, PART III, LINE 4A CONTINUATION: - LITTLE GREEN GOURMET: LITTLE GREEN GOURMET WAS ESTABLISHED IN 2012 AS A CATERING SERVICE THAT PROVIDES HEALTHY, HIGH-QUALITY LUNCH MEALS TO NEW YORK CITY CHARTER SCHOOLS. LGG'S LUNCH TIME OFFERINGS CONCENTRATE ON ORGANIC FRUITS, VEGETABLES AND LEAN PROTEINS. BOTH MEATS AND FRUITS ARE LOCALLY SOURCED. LGG SELLS PRE-PACKAGED INDIVIDUAL LUNCHES AND TRAYS OF FOOD DEPENDING ON THE SPECIFICATIONS OF THE CLIENT. SOME SCHOOLS, SUCH AS MONTESSORI, REQUIRE THAT THEIR STUDENTS SERVE THEMSELVES FROM COMMUNAL TRAYS OF FOOD IN ORDER TO DEVELOP LIFE SKILLS IN EACH INDIVIDUAL PUPIL. THE COMPANY STARTED OUT OF A SHARED COMMERCIAL KITCHEN IN EAST HARLEM. AFTER THREE YEARS IN THIS FACILITY AND GROWTH IN REVENUES IN EXCESS OF 100.0% YEAR-OVER-YEAR, THE COMPANY MOVED TO ITS CURRENT LOCATION ALSO IN EAST HARLEM AT THE BEGINNING OF 2016 WHICH REQUIRED SOME MINOR UPGRADES TO THE ELECTRICAL TO ACCOMMODATE NEW APPLIANCES AND SOME ADDITIONAL FINISH WORK TO MAKE THE SITE MORE EFFICIENT. IN ADDITION, THE COMPANY NEEDED TO PURCHASE A VAN SO THAT IT COULD MAKE DELIVERIES TO THEIR RESPECTIVE SITES THROUGHOUT THE CITY. TO MEET THIS NEED GAF PROVIDED A TEN YEAR LOAN OF $150,000 FOR IMPROVEMENTS, ACQUISITION OF THE NEW VAN AND PERMANENT WORKING CAPITAL. - COUGAR MOUNTAIN BAKING COMPANY: IN 1988, DAVID SAULNIER, THE FUTURE OWNER OF COUGAR MOUNTAIN BAKING COMPANY, CREATED HIS FIRST BATCH OF CHOCOLATE CHIP COOKIES, FROM SCRATCH, IN HIS KITCHEN AT HOME. LATER THAT YEAR, AT THE AGE OF 20, DAVID STARTED COUGAR MOUNTAIN BAKING COMPANY (CMBC). CMBC IS NOW BASED NEAR THE MAGNOLIA FISHERMAN'S TERMINAL AREA OF SEATTLE IN A 6,000 SQUARE FOOT BUILDING WITH STATE-OF-THE-ART EQUIPMENT. GAF ASSISTED IT WITH PURCHASING ADDITIONAL SPACE TO HOUSE THE COUGAR MOUNTAIN PRODUCTS. GAF PROVIDED $877,500 TO ACQUIRE THE BUILDING, $75,000 IN IMPROVEMENT COSTS AND AN ESTIMATED $52,500 IN SOFT IN CLOSING COSTS FOR A LOAN OF $1,005,000. AMORTIZED AND TERMED OVER 25 YEARS, THIS LOAN POSSESSES A FIXED RATE OF 2% FOR THE FIRST THREE YEARS BECOMING PRIME PLUS 1 STARTING IN YEAR FOUR. - AMCLO GROUP: INCORPORATED IN 1986, THE AMCLO GROUP MANUFACTURES AND DISTRIBUTES METAL AND PLASTIC END AND CLOSURE CAPS TO CUSTOMERS IN ALL 50 STATES. THE COMPANY CREATES ITS PRODUCTS FROM TIN, PLASTIC, ALUMINUM, STEEL AND GOLD. FOR MOST OF ITS EXISTENCE, THE AMCLO GROUP RENTED SPACE FROM THE CITY OF CLEVELAND. THE FACILITY WAS LOCATED IN A BLIGHTED, BROWNFIELDS AREA OF EAST CLEVELAND SLATED FOR MAJOR REDEVELOPMENT INTO THE "OPPORTUNITY CORRIDOR". THE COMPANY NEEDED TO FIND A NEW LOCATION THAT WOULD ALLOW IT TO IMPROVE OPERATIONAL PROCESS FLOW AND GROW. CLEVELAND INDUSTRIAL RETENTION INITIATIVE (CIRI) INTRODUCED THE COMPANY'S OWNERS TO GAF. WITH PRE-APPROVAL FOR A REAL ESTATE ACQUISITION LOAN FROM GAF, AMCLO PURSUED SEVERAL NEW FACILITIES AND SETTLED ON AN APPROPRIATE FACILITY IN THE CITY OF NORTH ROYALTON. GAF PROVIDED A $661,000 LOAN WITH A FIXED INTEREST RATE OF 5% OVER THE FOURTEEN YEAR, TEN-MONTH TERM. - ALL OF THE BORROWERS ILLUSTRATED ABOVE WERE UNABLE TO SECURE LOANS FROM CONVENTIONAL LENDERS UNDER SIMILAR TERMS AND CONDITIONS. IF GAF WERE UNABLE TO MAKE THE LOANS, EACH OF THE BORROWERS WOULD HAVE BEEN UNABLE TO EXPAND THEIR BUSINESSES AND CREATE JOBS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY OUTSIDE TAX PREPARERS IN CONSULTATION WITH MANAGEMENT AND AUDITORS. A DRAFT OF THE FULL FORM 990 WAS PROVIDED TO THE ENTIRE BOARD FOR REVIEW. A COMPLETE COPY OF THE FINAL FORM 990 WAS PROVIDED TO THE ORGANIZATION'S ENTIRE BOARD BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF NDC'S BOARD OF DIRECTORS AND EXECUTIVE EMPLOYEES ARE REQUIRED ANNUALLY TO EXECUTE A CONFLICT OF INTEREST POLICY AND COMPENSATION GUIDELINES ACKNOWLEDGEMENT STATING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST POLICY AND COMPENSATION GUIDELINES. THE CONFLICT OF INTEREST POLICY AND COMPENSATION GUIDELINES REQUIRES BOARD MEMBERS AND EXECUTIVE EMPLOYEES TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST IMMEDIATELY. UPON DISCLOSURE OF A POTENTIAL CONFLICT OF INTEREST, THE CHAIRPERSON OF THE BOARD WILL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION. VIOLATIONS OF THE CONFLICT OF INTEREST POLICY CAN RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALSO, ALL BOARD MEMBERS, BY EXECUTING THE ANNUAL ACKNOWLEDGEMENT STATEMENT, CONCERNING THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES, ACKNOWLEDGE THAT NDC SHALL REMAIN FAITHFUL TO ITS CHARITABLE PURPOSES. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS OF NDC HAS A STANDING COMPENSATION REVIEW COMMITTEE, THE MEMBERS OF WHICH ARE ALL INDEPENDENT DIRECTORS. THE COMMITTEE ENGAGES A THIRD PARTY INDEPENDENT CONSULTANT TO REVIEW THE COMPENSATION OF THE PRESIDENT EVERY TWO YEARS. THE COMMITTEE REVIEWS AND DISCUSSES THE FINDINGS AT A SPECIAL SESSION WITH ALL BOARD MEMBERS PRESENT EXCEPT THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE BY REQUEST. FORM 990, PART XI, LINE 9: CHANGES IN FUNDED STATUS OF QUALIFIED PENSION PLAN 114,670. CHANGES IN FUNDED STATUS OF NON-QUALIFIED PENSION PLAN -1,069,574. FROM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION-GROUP RETURN ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 911884698 ASSIST GOV/HOUSING VA 501(C)(3) LINE 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 GROW AMERICA FUND INC ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 133641265 LOANS AT BELOW-MARKET RATES FOR ECONOMIC DEVELOPMENT DE 501(C)(3) LINE 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 NDC SUPPORT I INC ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 134156877 ASSIST GOV/HOUSING NY 501(C)(3) LINE 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 112933129 ASSIST GOV/HOUSING VA 501(C)(3) LINE 12A, I NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 KINGSBOROUGH HOUSING DEVELOPMENT FUND COMPANY INC ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 141734500 HOUSING NY 501(C)(3) LINE 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 YONKERS LARKIN GARAGE INC ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 800730609 ASSIST GOV NY 501(C)(3) LINE 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 NDC GREEN RENEWABLE ENERGY ENTERPRISE NEXUS ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 273820841 ECONOMIC DEVELOPMENT NY 501(C)(3) LINE 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 NDC RESOURCES ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 460674188 ECON DEV/HOUSING/ASSIST GOV'T DC 501(C)(3) LINE 12A, I NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 1 NDC CORPORATE EQUITY FUND III ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 134071776 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND IV ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 134151268 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND V ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 134195127 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND VI ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 050585420 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND VII ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 203273264 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND VIII ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 261481355 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND IX ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 264226439 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND X ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 454281155 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND XI ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 462764258 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND XII ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 473762588 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND XIII ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 813113490 LOW INCOME HOUSING NY N/A NDC CORPORATE EQUITY FUND XIV LP ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 821877042 LOW INCOME HOUSING NY N/A COMMUNITY DEVELOPMENT GROUP HOLT ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 201643188 ECONOMIC DEVELOPMENT NY NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT C 1.00000 1 COMMUNITY DEVELOPMENT GROUP ILLINOIS INC ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 201644052 AFFORDABLE HOUSING NY NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT C 1.00000 1 COMMUNITY DEVELOPMENT GROUP KENTUCKY INC ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 133555220 ECONOMIC DEVELOPMENT NY NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT C -275 359 1.00000 1 COMMUNITY DEVELOPMENT GROUP RENEWABLE ENERGY ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 262989445 ECONOMIC DEVELOPMENT NY NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT C 60408 1331997 1.00000 1 COMMUNITY DEVELOPMENT GROUP WALLA WALLA INC ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 133615889 ECONOMIC DEVELOPMENT NY NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT C 65379 225463 1.00000 1 HOUSING DEVELOPMENT GROUP III ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 203673695 AFFORDABLE HOUSING NY NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT C 282700 1.00000 1 COMMUNITY DEVELOPMENT INVESTOR BROOKLYN ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 461534076 ECONOMIC DEVELOPMENT NY N/A C 0 0 1 1 1 0 0 0 0 0 0 1 1 0 1 1 0 1 0 0