NEW HAMPSHIRE COMMUNITY LOAN FUND: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- NEW HAMPSHIRE COMMUNITY LOAN FUND (EIN 22-2524015)
- Tax period
- 2016-07-01 to 2017-06-30
- Filed
- 2017-11-13
- IRS object ID
- 201733179349304108
- Schema version
- 2016v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-11-13T12:46:17-06:00 | ReturnTs |
| Tax Period End | 2017-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042571780 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALEXANDER ARONSON FINNING & CO PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 WASHINGTON STREET | AddressLine1Txt |
| City | WESTBOROUGH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01581 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 222524015 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW HAMPSHIRE COMMUNITY LOAN FUND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NEWH | BusinessNameControlTxt |
| Phone | 6032246669 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 WALL STREET | AddressLine1Txt |
| City | CONCORD | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03301 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JULIANA EADES | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 6032246669 | PhoneNum |
| Signature | 2017-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MATTHEW MCGINNIS CPA | PreparerPersonNm |
| PTIN | P01585083 | PTIN |
| Phone | 5083669100 | PhoneNum |
| Preparation | 2017-11-13 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 64.238.141.162 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2017-11-13 | IPDt |
| IP Tm | 10:14:27 | IPTm |
| IP Timezone | ES | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 3E440E6A185EDC2B926E5F70C0D5813905974454 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | E389E89C54D8B2D0E67DFD5473BAB8CDEAF766EE | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JULIANA EADES | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 WALL STREET | AddressLine1Txt |
| City | CONCORD | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03301 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $10,844,377 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.COMMUNITYLOANFUND.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1983 | FormationYr |
| Legal Domicile State | NH | LegalDomicileStateCd |
| Activity Or Mission | 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 16 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 56 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $4,458,599 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,010,711 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $7,089,733 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $7,490,959 | CYProgramServiceRevenueAmt |
| PY Investment Income | $98,074 | PYInvestmentIncomeAmt |
| CY Investment Income | $95,751 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$18,063 | PYOtherRevenueAmt |
| CY Other Revenue | $246,956 | CYOtherRevenueAmt |
| PY Total Revenue | $11,628,343 | PYTotalRevenueAmt |
| CY Total Revenue | $10,844,377 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $595,612 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $385,174 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,649,761 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,332,940 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $309,502 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,600,809 | PYOtherExpensesAmt |
| CY Other Expenses | $4,756,588 | CYOtherExpensesAmt |
| PY Total Expenses | $10,846,182 | PYTotalExpensesAmt |
| CY Total Expenses | $9,474,702 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $782,161 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,369,675 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $113,051,523 | TotalAssetsBOYAmt |
| Total Assets EOY | $124,966,101 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $90,039,385 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $101,218,610 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $23,012,138 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $23,747,491 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE FORM 990, PART I, LINE 1. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $3,126,135 | ExpenseAmt |
| Grant | $385,174 | GrantAmt |
| Revenue | $6,766,128 | RevenueAmt |
| Desc | AFFORDABLE HOUSING - SEE SCHEDULE O | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $4,123,798 | ExpenseAmt |
| Revenue | $0 | RevenueAmt |
| Desc | CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,094,612 | ExpenseAmt |
| Revenue | $785,238 | RevenueAmt |
| Desc | BUSINESS FINANCE - SEE SCHEDULE O | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $199,932 | ExpenseAmt |
| Revenue | $186,549 | RevenueAmt |
| Desc | 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 2017, THE COMMUNITY LOAN FUND MADE ONE COMMUNITY FACILITIES LOAN TOTALING $1.125 MILLION. THE WHOLE CHILD CENTER PLAYS AN IMPORTANT ROLE FOR WORKING FAMILIES IN THE TILTON-FRANKLIN, N.H. AREA.IT PROVIDES EARLY EDUCATION AND CARE FOR MORE THAN 100 CHILDREN, FROM INFANTS TO AGE 12. ONE IN FIVE OF ITS FAMILIES QUALIFIES AS LOW INCOME AND RECEIVES STATE CHILD CARE ASSISTANCE. THERE'S A SIX-MONTH WAITING LIST AND THAT PARENTS CONSTANTLY CALL FOR TOURS OF THE SCHOOL.THE CENTER HAS A "LICENSED PLUS" DESIGNATION FROM THE STATE, MEANING IT PROVIDES A HIGHER LEVEL OF QUALITY THAN IS REQUIRED. ITS PROGRAMMING IS INCLUSIVE-CHILDREN WITH AND WITHOUT DISABILITIES BENEFIT FROM PARTICIPATING AND LEARNING SIDE-BY-SIDE.KELLY CROSS HAD BORROWED TO BUY THE CENTER IN 2009, AND THE ACCOMPANYING REAL ESTATE IN 2012. WHEN ANOTHER LOAN WAS NEEDED TO REPLACE THE ROOF ON ONE OF THE TWO BUILDINGS, THE SCHOOL'S FINANCES WERE PINCHED. ITS BANK COULD PROVIDE SOME, BUT NOT ALL, OF THE NEEDED FINANCING.KELLY CALLED THE COMMUNITY LOAN FUND, WHICH SAW A THRIVING EARLY-EDUCATION CENTER THAT EMPLOYED 22 PEOPLE, 15 OF THEM FULL TIME, AND WAS MANAGED BY A STRONG TEAM.WE CUSTOMIZED ADDITIONAL FINANCING SO THE CENTER COULD COMBINE ITS LOANS AT A LOWER INTEREST RATE. THE $2,000 MONTHLY SAVINGS MEANT WELL-DESERVED RAISES FOR MOST STAFF."WE'VE BEEN ABLE TO PUT MONEY BACK INTO OUR PROGRAM, TO KEEP IT TOP-QUALITY," SAID KELLY. THE BOTTOM LINE, SHE SAYS, IS "A BETTER AND MORE-FOCUSED CURRICULUM, AND A BETTER CHILD-STAFF RATIO. IT REALLY IS BETTER FOR THE STAFF, THE KIDS, AND FAMILIES." | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $199,932 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $186,549 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $8,544,477 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 456 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 56 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 16 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NH | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BONNIE SCADOVA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6032246669 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 WALL STREET | AddressLine1Txt |
| City | CONCORD | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03301 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| ANTHONY POORE | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| BETSY MCNAMARA | |||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| BRIGID MURRAY | |||||||
| VICE SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CHRISTINA HILL | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DAN MULLER | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DEBORAH BUTLER | |||||||
| CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JAMIE RICHARDSON | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JANET ACKERMAN | |||||||
| VICE TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JULIANA EADES | |||||||
| PRESIDENT | 40.00 | Yes (X) | $162,135 | $0 | $12,847 | Yes (X) | |
| KIM CAPEN | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL SWACK | |||||||
| EMERITUS | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| NAOMI BUTTERFIELD | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PAUL SPANG | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PETER BRANKMAN | |||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| SARAH VARELA | |||||||
| MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TOM BUNNELL | |||||||
| VICE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| BONNIE SCADOVA | |||||||
| CFO | 40.00 | $105,056 | $0 | $17,377 | Yes (X) | ||
| DEBRA MILLER | |||||||
| VP EXTERNAL RELATIONS | 40.00 | $109,759 | $0 | $15,691 | Yes (X) | ||
| JOHN FLANDERS | |||||||
| COO | 40.00 | $103,307 | $0 | $21,378 | Yes (X) | ||
| JOHN HAMILTON | |||||||
| VP ECONOMIC OPPORTUNITY | 40.00 | $102,778 | $0 | $11,426 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $583,035 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $78,719 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $1,405,327 | GovernmentGrantsAmt |
| All Other Contributions | $1,605,384 | AllOtherContributionsAmt |
| Noncash Contributions | $66,603 | NoncashContributionsAmt |
| Total Contributions | $3,010,711 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST FROM LOANS | 531390 | $7,092,548 | $7,092,548 |
| LOAN RELATED FEES | 531390 | $374,963 | $374,963 |
| TRAINING AND OTHER FEES | 531390 | $23,448 | $23,448 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $7,490,959 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $95,751 | TotalRevenueColumnAmt |
| Exclusion | $95,751 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| WARRANT INCOME | 900099 | $235,333 | $235,333 |
| LOAN LOSS RECOVERY | 900099 | $24,095 | $24,095 |
| MISCELLANEOUS LOSS | 900099 | -$12,472 | -$12,472 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $246,956 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,844,377 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,737,915 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $95,751 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,763 | TotalAmt |
| Program Services | $1,763 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $383,411 | TotalAmt |
| Program Services | $383,411 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $314,218 | TotalAmt |
| Program Services | $107,778 | ProgramServicesAmt |
| Management And General | $170,514 | ManagementAndGeneralAmt |
| Fundraising | $35,926 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,228,857 | TotalAmt |
| Program Services | $2,906,295 | ProgramServicesAmt |
| Management And General | $153,994 | ManagementAndGeneralAmt |
| Fundraising | $168,568 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $94,272 | TotalAmt |
| Program Services | $84,534 | ProgramServicesAmt |
| Management And General | $4,636 | ManagementAndGeneralAmt |
| Fundraising | $5,102 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $431,664 | TotalAmt |
| Program Services | $380,433 | ProgramServicesAmt |
| Management And General | $26,035 | ManagementAndGeneralAmt |
| Fundraising | $25,196 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $263,929 | TotalAmt |
| Program Services | $225,048 | ProgramServicesAmt |
| Management And General | $23,264 | ManagementAndGeneralAmt |
| Fundraising | $15,617 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,442 | TotalAmt |
| Program Services | $30,976 | ProgramServicesAmt |
| Management And General | $2,176 | ManagementAndGeneralAmt |
| Fundraising | $290 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,969 | TotalAmt |
| Program Services | $62,793 | ProgramServicesAmt |
| Management And General | $27,512 | ManagementAndGeneralAmt |
| Fundraising | $3,664 | FundraisingAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,003 | TotalAmt |
| Program Services | $21,003 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $169,254 | TotalAmt |
| Program Services | $130,381 | ProgramServicesAmt |
| Management And General | $32,564 | ManagementAndGeneralAmt |
| Fundraising | $6,309 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,064 | TotalAmt |
| Program Services | $36,776 | ProgramServicesAmt |
| Management And General | $254 | ManagementAndGeneralAmt |
| Fundraising | $34 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $390,840 | TotalAmt |
| Program Services | $305,114 | ProgramServicesAmt |
| Management And General | $42,575 | ManagementAndGeneralAmt |
| Fundraising | $43,151 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,334 | TotalAmt |
| Program Services | $37,264 | ProgramServicesAmt |
| Management And General | $11,563 | ManagementAndGeneralAmt |
| Fundraising | $4,507 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,779 | TotalAmt |
| Program Services | $80,508 | ProgramServicesAmt |
| Management And General | $34,271 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $79,186 | TotalAmt |
| Program Services | $75,958 | ProgramServicesAmt |
| Management And General | $2,856 | ManagementAndGeneralAmt |
| Fundraising | $372 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,036 | TotalAmt |
| Program Services | $21,816 | ProgramServicesAmt |
| Management And General | $1,046 | ManagementAndGeneralAmt |
| Fundraising | $174 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,417,185 | TotalAmt |
| Program Services | $3,417,185 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $179,865 | TotalAmt |
| Program Services | $126,793 | ProgramServicesAmt |
| Management And General | $53,072 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100,258 | TotalAmt |
| Program Services | $70,321 | ProgramServicesAmt |
| Management And General | $29,937 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| TRAINING EXPENSES | $30,066 | $25,020 | $4,454 | $592 |
| PROPERTY EXPENSES | $13,307 | $13,307 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,474,702 | TotalAmt |
| Program Services | $8,544,477 | ProgramServicesAmt |
| Management And General | $620,723 | ManagementAndGeneralAmt |
| Fundraising | $309,502 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,185,618 | BOYAmt |
| EOY | $7,690,869 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $638,811 | BOYAmt |
| EOY | $1,557,873 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $464,965 | BOYAmt |
| EOY | $448,157 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,561 | BOYAmt |
| EOY | $151,806 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $5,703,961 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,646,511 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,151,879 | BOYAmt |
| EOY | $4,057,450 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,570,287 | BOYAmt |
| EOY | $9,039,585 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $95,024,402 | BOYAmt |
| EOY | $102,020,361 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,051,523 | BOYAmt |
| EOY | $124,966,101 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,124,112 | BOYAmt |
| EOY | $1,698,972 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $218,036 | BOYAmt |
| EOY | $759,408 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,097,237 | BOYAmt |
| EOY | $90,160,230 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,600,000 | BOYAmt |
| EOY | $8,600,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $90,039,385 | BOYAmt |
| EOY | $101,218,610 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,592,625 | BOYAmt |
| EOY | $15,092,351 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,419,513 | BOYAmt |
| EOY | $8,655,140 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,012,138 | BOYAmt |
| EOY | $23,747,491 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,051,523 | BOYAmt |
| EOY | $124,966,101 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,369,675 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$634,322 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,680,786 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,086,673 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,607,789 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,458,599 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,010,711 | CurrentTaxYearAmt |
| Total | $19,844,558 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,680,786 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,086,673 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,607,789 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,458,599 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,010,711 | CurrentTaxYearAmt |
| Total | $19,844,558 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $534,800 | SubstantialContributorsTotAmt |
| Public Support Total170 | $19,309,758 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $142,090 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $106,052 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $108,072 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $83,458 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $95,751 | CurrentTaxYearAmt |
| Total | $535,423 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $20,379,981 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $33,022,971 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.94750 | PublicSupportCY170Pct |
| Public Support PY170 | 0.95110 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
Total Grassroots Lobbying TotalGrassrootsLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $100 | FilingOrganizationsTotalAmt |
Total Direct Lobbying TotalDirectLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $953 | FilingOrganizationsTotalAmt |
Total Lobbying Expend TotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $1,053 | FilingOrganizationsTotalAmt |
Other Exempt Purpose Expend OtherExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $9,473,649 | FilingOrganizationsTotalAmt |
Total Exempt Purpose Expend TotalExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $9,474,702 | FilingOrganizationsTotalAmt |
Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $623,735 | FilingOrganizationsTotalAmt |
Grassroots Nontaxable GrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $155,934 | FilingOrganizationsTotalAmt |
Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $614,320 | CurrentYearMinus3Amt |
| Current Year Minus2 | $648,764 | CurrentYearMinus2Amt |
| Current Year Minus1 | $692,386 | CurrentYearMinus1Amt |
| Current Year | $623,735 | CurrentYearAmt |
| Total | $2,579,205 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $3,868,808 | LobbyingCeilingAmt |
Avg Total Lobbying Expend AvgTotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $7,716 | CurrentYearMinus3Amt |
| Current Year | $1,053 | CurrentYearAmt |
| Total | $8,769 | TotalAmt |
Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $153,580 | CurrentYearMinus3Amt |
| Current Year Minus2 | $162,191 | CurrentYearMinus2Amt |
| Current Year Minus1 | $173,097 | CurrentYearMinus1Amt |
| Current Year | $155,934 | CurrentYearAmt |
| Total | $644,802 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $967,203 | GrassrootsCeilingAmt |
Avg Grassroots Lobbying Expend AvgGrassrootsLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $13 | CurrentYearMinus3Amt |
| Current Year | $100 | CurrentYearAmt |
| Total | $113 | TotalAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | 0 | InclEscrowCustodialAcctLiabInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $321,461 | OtherCostOrOtherBasisAmt |
| Book Value | $321,461 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,782,628 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,186,438 | DepreciationAmt |
| Book Value | $3,596,190 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $599,872 | OtherCostOrOtherBasisAmt |
| Depreciation | $460,073 | DepreciationAmt |
| Book Value | $139,799 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,057,450 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| LOANS RECEIVABLE | $99,394,077 | C |
| ROC USA | $1,964,959 | F |
| OTHER PROGRAM-RELATED EQUITY INVESTMENTS | $661,325 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $102,020,361 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | EQUITY EQUIVALENTS PAYABLE | Desc |
| Amt | $8,600,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $8,600,000 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $6,408,866 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$634,322 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$3,801,189 | OtherRevenueAmt |
| Revenue Not Reported | -$4,435,511 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,844,377 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $10,844,377 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $5,673,513 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $5,673,513 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $3,801,189 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $3,801,189 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $9,474,702 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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, 2017. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | INTEREST EXPENSE -3,417,185. PASS THROUGH GRANTS TO OTHERS -385,174. IN KIND 1,170. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INTEREST EXPENSE 3,417,185. PASS THROUGH GRANTS TO OTHERS 385,174. IN KIND -1,170. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | IDA MATCHED SAVINGS GRANTS | GrantTypeTxt |
| Recipient | 123 | RecipientCnt |
| Non Cash Assistance | $383,411 | NonCashAssistanceAmt |
| Valuation Method Used | CASH | ValuationMethodUsedDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JULIANA EADES | PersonNm |
| Title | PRESIDENT | TitleTxt |
| Base Compensation Filing Org | $162,135 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $12,847 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $174,982 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 3 | ContributionCnt |
| Noncash Contributions Rpt F990 | $33,924 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Desc | NON-CASH GRANTS CONVERTED FROM LOANS PAYABLE BY DO | Desc |
| Contribution | 3 | ContributionCnt |
| Noncash Contributions Rpt F990 | $32,679 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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, 2017, 123 RESIDENT-OWNED COMMUNITIES IN N.H. WERE HOME TO 6,957 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2017, THE COMMUNITY LOAN FUND MADE 21 LOANS TOTALING MORE THAN $9 MILLION. IN DOING SO, IT PRESERVED 165 HOUSING UNITS AND PROVIDED 18,576 HOURS OF TECHNICAL ASSISTANCE TO RESIDENT-OWNED COMMUNITIES. IN EARLY APRIL OF 2015, A CALL CAME INTO ROC-NH FROM A RESIDENT OF BOB'S MOBILE HOME PARK IN MILAN, A SMALL TOWN IN NORTHERN N.H. THE CALLER HAD JUST FOUND OUT THAT THE PARK WAS TO BE SOLD AT A FORECLOSURE AUCTION IN TWO WEEKS. COULD ROC-NH HELP? A FEW DAYS LATER, ROC-NH STAFF MET WITH 10 OF THE PARK'S 18 FAMILIES AND LEARNED ABOUT THEIR PRECARIOUS SITUATION. WORD WAS THAT OTHER POTENTIAL BIDDERS AT AUCTION WERE UNLIKELY TO KEEP THE PARK OPEN. THE PARK'S LAND ADJOINS AN ALL-TERRAIN VEHICLE TRAIL AND IS NEAR AN AIRPORT, MAKING IT VALUABLE LAND IN THE NORTH COUNTRY. IF THE NEW OWNER CLOSED THE PARK, THE FAMILIES WOULD LIKELY LOSE THEIR HOMES. THERE IS LITTLE OTHER AFFORDABLE HOUSING IN THEIR EXTREMELY RURAL PART OF THE STATE. THE RESIDENTS VOTED TO INCORPORATE AS DEER ESTATES COOPERATIVE, AND TRY TO BUY THE PARK THEMSELVES. THE ROC-NH TEAM ALSO CONTACTED THE PARK'S OWNERS, WHO WERE MORE THAN WILLING TO WORK WITH THE COOPERATIVE. ON THE MORNING OF THE SCHEDULED AUCTION, WITH A LOAN FROM THE COMMUNITY LOAN FUND, THE CO-OP CLOSED ON THE SALE. THEY SIGNED THE PAPERS AROUND THE OWNERS' KITCHEN TABLE, AND BECOME N.H.'S 113TH RESIDENT-OWNED COMMUNITY. DEER ISLAND PRESIDENT KURT GUERIN SAID HE WAS "A LITTLE STUNNED AT HOW GOOD YOUR GUYS (ROC-NH) ARE AND HOW QUICK IT ALL HAPPENED." "I AM REALLY EXCITED FOR THE POSITIVE FUTURE THE PARK CAN HAVE WITH THIS OPPORTUNITY," HE SAID. 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 1,167 LOANS TOTALING $52.3 MILLION SINCE 2002, WELCOME HOME LOANS HAVE SHOWN THESE BORROWERS TO BE BETTER-THAN-AVERAGE RISKS, WITH A CUMULATIVE LOSS RATE OF JUST 2.42 PERCENT. DURING FY 2017, WELCOME HOME LOANS PROVIDED $5.2 MILLION IN FINANCING TO 106 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. DONNA LEGARE AND HER HUSBAND, JOE HOULIHAN, HAD MOVED 13 TIMES IN 16 YEARS. THERE WAS A KITCHEN INFESTED WITH ROACHES AND A NEIGHBORHOOD INFESTED WITH DRUGS. THERE WAS RACIAL HARASSMENT AND THE TERROR OF BULLETS HITTING THEIR BUILDING. BUILDINGS WERE SOLD AND RENTS WERE RAISED, AND RAISED AGAIN. "I GOT TO THE POINT WHERE I NEVER UNPACKED EVERYTHING," SAYS DONNA. THEY THOUGHT THINGS WOULD GET BETTER FOR THEM AND THEIR YOUNG DAUGHTER IF THEY ESCAPED THE CITY AND MOVED CLOSER TO THEIR FAMILIES. BUT THE APARTMENT THEY FOUND WAS THE WORST YET. THE WATER SMELLED FOUL. THE ROOF LEAKED. THEIR ELECTRIC BILL WAS HUGE BECAUSE THE OTHER APARTMENTS WERE CONNECTED TO THEIR METER. THEN THEIR MONTHLY RENT WAS HIKED $400. DONNA AND JOE WERE BEAT UP PHYSICALLY AND MENTALLY. BOTH WERE DISABLED BECAUSE OF ILLNESS OR INJURY, AND CLOSE TO DEAD BROKE. LOOKING AGAIN FOR HOUSING, THEY FOUND A MANUFACTURED HOME ON AN ACRE OF LAND IN SANDOWN, N.H. THE HOUSE'S AGE AND THEIR LACK OF CREDIT MEANT THEY COULDN'T GET A BANK LOAN, BUT DONNA WENT ONLINE AND FOUND THE COMMUNITY LOAN FUND'S WELCOME HOME LOANS. THINGS STARTED LOOKING UP. THE OWNER WAS WILLING TO LOWER THE PRICE FOR A FAMILY THAT WOULD MOVE IN, RATHER THAN TEAR IT DOWN. BUT BECAUSE DONNA AND JOE HAD AVOIDED CREDIT CARDS BY PAYING WITH CASH, THEY HAD NO CREDIT HISTORY. THE COMMUNITY LOAN FUND'S WELCOME HOME LOAN TEAM ACCEPTED PERSONAL LOAN AND UTILITY PAYMENTS AS ALTERNATIVE CREDIT. DONNA AND JOE BOUGHT THE HOME IN JANUARY AND MOVED IN THE NEXT DAY. "EVERY DAY I WAKE UP HERE, I'M HAPPY," SAYS DONNA. "WE SAVE A LITTLE MONEY, WE WORK ON THINGS, AND WE'RE GETTING THERE. BUT THE BIGGEST THING IS, THIS IS OUR FOREVER HOME. WE ARE...FINALLY...HOME." 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 OVER $25 MILLION IN LOANS, RESULTING IN THE CREATION OF OVER 1,535 AFFORDABLE APARTMENTS VALUED AT MORE THAN $214 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. THE GILE HILL HOUSING DEVELOPMENT WAS ONE OF THE MOST AMBITIOUS AND COMPLEX IN NEW HAMPSHIRE. IT WAS CALLED "THE MOST IMPORTANT AFFORDABLE HOUSING PROJECT IN NEW ENGLAND." LOCATED IN HANOVER, WHERE RENTAL APARTMENTS ARE BOTH SCARCE AND PRICEY, THE PROJECT WAS ALSO MUCH NEEDED. THE TWIN PINES HOUSING TRUST'S PLAN WAS THAT HALF OF THE PROJECT'S 120 RENTALS AND CONDOMINIUMS WOULD BE AFFORDABLE FOR WORKING FAMILIES. THEN THE RECESSION HIT. CONDO SALES SLOWED TO A CRAWL AND PRICES DIPPED. A MAJOR FINANCING PARTNER THREATENED TO FORECLOSE. KNOWING THE IMPORTANCE OF THE PROJECT, AND OF TWIN PINES' WORK IN THE REGION, THE COMMUNITY LOAN FUND REVISED ITS LOAN AGREEMENTS, DELAYED REPAYMENT AND EXTENDED FLEXIBLE CAPITAL TO KEEP THE PROJECT AFLOAT. THE COMMUNITY LOAN FUND'S PATIENCE, TECHNICAL ASSISTANCE, PARTNERSHIP AND MORAL SUPPORT WERE CRITICAL, SAID TWIN PINES EXECUTIVE DIRECTOR ANDREW WINTER. "TWIN PINES COULD NOT HAVE COMPLETED THIS EXCEEDINGLY COMPLEX AND CHALLENGING PROJECT WITHOUT THE COMMUNITY LOAN FUND BESIDE US EVERY STEP OF THE WAY." WITH THE RECOVERY OF THE HOUSING MARKET, THE GILE PROJECT PROVIDES AFFORDABLE APARTMENTS AND CONDOS WITHIN WALKING DISTANCE TO GOOD JOBS, AND A HIGH-FUNCTIONING NONPROFIT PROVIDING AFFORDABLE HOUSING IN A MARKET THAT WOULD NOT OTHERWISE HAVE IT. 4. INDIVIDUAL DEVELOPMENT ACCOUNTS (IDA) PROVIDE MATCHED SAVINGS AND FINANCIAL TRAINING FOR PEOPLE WITH LOW INCOMES WHO WANT TO SAVE FOR HOMEOWNERSHIP OR POST-SECONDARY EDUCATION. SINCE 2001, THE N.H. IDA PROGRAM HAS PROVIDED MORE THAN $4.7 MILLION TO MATCH THE SAVINGS OF PROGRAM PARTICIPANTS, INCLUDING MORE THAN $2.6 MILLION TO HELP 407 PEOPLE PURCHASE HOMES. ALYSSA MCCLARY DIDN'T WANT TO BUY A HOUSE-EVER. SHE AND HER PARTNER, ALISON MURPHY, HAD RENTED FOR FOUR YEARS. THEIR APARTMENT WAS AFFORDABLE AND LOCATED WITHIN BIKING DISTANCE OF THEIR JOBS. BUT ALISON FELT ALL THEY HAD TO SHOW FOR THEIR RENT PAYMENTS WAS "AN APARTMENT WE'RE NOT REALLY EXCITED ABOUT, NO YARD, NO LONG-TERM CONNECTION TO OUR COMMUNITY." THEIR YOUNG SON AND DAUGHTER SHARED A BEDROOM AND HAD NO PLACE BUT A PARKING LOT TO PLAY OUTDOORS. SO, THE COUPLE ATTENDED A HOMEBUYER SEMINAR AND COMBED THEIR BUDGET. THEY LEARNED THEY EARNED ENOUGH TO AFFORD THE PAYMENTS AND UPKEEP ON A HOME. LACKING A DOWN PAYMENT, AND DOUBTING THEY'D BE ABLE TO AFFORD A HOUSE NEAR DOWNTOWN CONCORD, N.H. WHERE THEY WANTED TO STAY, ALYSSA AND ALISON ENROLLED IN FINANCIAL TRAINING AND EACH OPENED AN INDIVIDUAL DEVELOPMENT ACCOUNT (IDA). IDAS PROVIDE AN EIGHT-TO-ONE MATCH FOR EVERY DOLLAR SAVED, UP TO $500. THE RESULTING $4,500 CAN BE USED TO HELP BUY A HOME OR FOR COLLEGE. THE COUPLE PAID DOWN THEIR DEBT, REACHED THEIR SAVINGS GOALS THE NEXT SPRING, AND BEGAN LOOKING AT HOMES. MONTHS LATER, THEY FOUND ONE THEY LOVED. THE SELLERS REJECTED THEIR OFFER, BUT WERE EAGER TO MOVE INTO ANOTHER HOUSE. ALISON AND ALYSSA UPPED THEIR BID JUST ENOUGH TO CLOSE THE SALE AND MOVED IN LATE 2015. THEIR HOME MEANS A STABLE PLACE FOR THEIR CHILDREN TO GROW AND A DEEPER CONNECTION WITH THEIR COMMUNITY |
| 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 THE COMMUNITY LOAN FUND 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. MISSION AND MONEY MANAGEMENT WORK HAND-IN-HAND AT THE ENDOWMENT FOR HEALTH IN N.H. ITS INVESTMENTS MUST EARN STRONG RETURNS, BECAUSE THE FOUNDATION USES ITS EARNED INTEREST TO MAKE GRANTS TO IMPROVE PUBLIC HEALTH, ESPECIALLY WHERE PEOPLE AND COMMUNITIES ARE VULNERABLE OR UNDERSERVED. THE ENDOWMENT ORIGINALLY INVESTED IN THE COMMUNITY LOAN FUND IN 2004. THE ECONOMY WAS STRONG, AND THE BOARD OF DIRECTORS' DISCUSSION WAS MOSTLY ABOUT HOW THE MONEY WOULD BE USED TO DO GOOD THINGS IN N.H., AS OPPOSED TO WHETHER MORE MONEY COULD BE EARNED ELSEWHERE. BY 2008, WHEN THAT INVESTMENT REACHED MATURITY AND THE BOARD NEEDED TO DECIDE WHETHER TO REINVEST OR DO SOMETHING ELSE WITH ITS MONEY, THE CONVERSATION HAD FLIPPED. THE ENDOWMENT'S INVESTMENT IN THE COMMUNITY LOAN FUND HAD EARNED THE FIXED-RATE INTEREST IT SIGNED UP FOR, EVEN WHILE THE RECESSION SENT THE STOCK MARKET DOWNWARD. "THAT WAS OUR BEST-PRODUCING INVESTMENT," SAYS PRESIDENT YVONNE GOLDSBERRY. "IT WAS, 'YEAH, WE NEED THIS.' " IT'S A RARE INVESTMENT THAT PROVIDES A RETURN AND ALSO ALIGNS WITH WHAT THE ENDOWMENT WORKS TO ACCOMPLISH. YVONNE SAYS ITS OPPORTUNITY NH INVESTMENT IN THE COMMUNITY LOAN FUND ACCOMPLISHES BOTH. "INVESTING IN THE COMMUNITY LOAN FUND IS REALLY AWESOME BECAUSE IT'S TESTED, PREDICTABLE, IT'S GIVING US RETURN, AND IT PASSES THE TEST OF FINANCIAL ANALYSTS," SHE SAYS. ITS INVESTMENTS HERE GIVE THE ENDOWMENT A WAY TO EXTEND ITS IMPACT FAR BEYOND ITS GRANT-MAKING ON BEHALF OF HEALTHIER FAMILIES AND COMMUNITIES, WHICH IS WHY ITS INVESTMENT COMMITTEE DECIDED IN 2016 TO INVEST EVEN MORE MONEY, FOR ANOTHER 10 YEARS. INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $5 MILLION. THE PHILANTHROPY PROGRAM BROUGHT IN $12.59 MILLION FROM 104 NEW INVESTMENTS IN FY 2017, PUSHING THE TOTAL NUMBER OF CURRENT INVESTORS TO 636. |
| 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 701 INVESTMENTS AND LOANS, TOTALING MORE THAN $28 MILLION AND CREATING OR PRESERVING 3,684 JOBS. IN FY 2017, OUR BUSINESS FINANCE TEAM PROVIDED $2.43 MILLION IN FINANCING TO 10 BUSINESSES, CREATING OR PRESERVING 170 JOBS. THANH HO AND HIS BROTHER HAD FLED VIETNAM WHEN THANH WAS JUST 13. IN 2001, THE TWO MEN AND THEIR WIVES WERE LOOKING FOR A BUSINESS TO RUN TOGETHER, AND FOUND AN ASIAN GROCERY FOR SALE IN MANCHESTER, N.H. THE FAMILIES WARMLY WELCOMED THEIR CUSTOMERS FROM OTHER ASIAN COUNTRIES, AND FROM AFRICA AND SOUTH AND CENTRAL AMERICA. THEY QUICKLY GREW THEIR BUSINESS, NOW CALLED SAIGON ASIAN MARKET, MOVED IT TO A LARGER BUILDING A MILE AWAY, AND OPENED A SECOND MARKET IN NASHUA. IN FALL OF 2013, THE MANCHESTER BUILDING'S OWNER ABRUPTLY REFUSED TO RENEW THE MARKET'S LEASE, LEADING TO TWO FRUSTRATING YEARS OF TRYING TO FIND ANOTHER SITE IN THE CITY. FINALLY, THE FAMILIES BOUGHT A LARGE VACANT LOT. WHEN UNANTICIPATED CONSTRUCTION COSTS THREATENED TO SNAG THE PROJECT, THEIR ARCHITECT REFERRED THEM TO THE NEW HAMPSHIRE COMMUNITY LOAN FUND. WE SAW THE MARKET'S IMPORTANCE TO THE CITY'S ETHNIC COMMUNITIES AND THE HARD WORK THAT HAD GONE INTO SERVING THEM, AND MADE A LOAN THAT KEPT THE CONSTRUCTION GOING. "WITHOUT THAT (LOAN)," THANH SAYS, "I WOULD NOT HAVE ANOTHER CHANCE TO ACHIEVE WHAT I HAVE." THE NEW MARKET OPENED IN MARCH, 2016. IT'S LOCATED ON A BUS LINE JUST THREE BLOCKS FROM BUSY ELM STREET, ABUTTING RESIDENTIAL NEIGHBORHOODS. THE STORE, AS BIG AS THE LAST TWO COMBINED, IS BRIGHT AND COLORFUL AND FEATURES AN AMAZINGLY VARIED SEAFOOD SELECTION, EXOTIC-SOUNDING PRODUCE AND PILES OF 25-POUND BAGS OF RICE. SAIGON ASIAN MARKET IS BACK IN BUSINESS. |
| 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 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 $120,114 TO THE COMMUNITY LOAN FUND. TWELVE EMPLOYEES HAVE PROVIDED LOANS TOTALING $444,162 TO THE COMMUNITY LOAN FUND. 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. |
Comments