2017-08-15T12:30:36-05:00 2016-09-30 420714325 RSM US LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2015-10-01 521954196 RAZA DEVELOPMENT FUND INC C/O RODRIGO VELA CFO RAZA 6024171403 1 E WASHINGTON STREET NO 2250 PHOENIX AZ 85004 TOM ESPINOZA PRESIDENT & CEO 6024171403 2017-08-15 1 JULIA FLANNERY CPA P00928918 3012963600 2015 2021-01-29 14:40:06Z TOM ESPINOZA 1 E WASHINGTON STREET NO 2250 PHOENIX AZ 85004 9691173 0 X WWW.RAZAFUND.ORG X 1996 DC RAZA DEVELOPMENT FUND'S MISSION IS TO CREATE FINANCING SOLUTIONS THAT INCREASE OPPORTUNITIES FOR THE LATINO COMMUNITY AND LOW-INCOME FAMILIES IN THE AREAS OF AFFORDABLE HOUSING, EDUCATION AND HEALTH CARE. RDF TRULY INVESTS IN THE DREAMS AND HOPES OF NCLR AFFILIATES AND OTHER NOT-FOR-PROFIT SOCIAL SERVICE ORGANIZATIONS BUILDING UP THEIR COMMUNITIES, AND THEREBY TOUCHING THE LIVES OF THOUSANDS OF FAMILIES. 10 8 29 8 0 0 600000 326500 10892035 9196205 162452 138610 92161 29858 11746648 9691173 341043 387202 0 0 3566060 3692471 0 0 93517 6339546 5608034 10246649 9687707 1499999 3466 150827613 171847679 92703228 113021534 58124385 58826145 X RAZA DEVELOPMENT FUND'S (RDF) MISSION IS TO CREATE FINANCING SOLUTIONS THAT INCREASE OPPORTUNITIES FOR THE LATINO COMMUNITY AND LOW-INCOME FAMILIES IN THE AREAS OF AFFORDABLE HOUSING, EDUCATION AND HEALTH CARE. RDF TRULY INVESTS IN THE DREAMS AND HOPES OF NCLR AFFILIATES AND OTHER NOT-FOR-PROFIT SOCIAL SERVICE ORGANIZATIONS BUILDING UP THEIR COMMUNITIES, AND THEREBY TOUCHING THE LIVES OF THOUSANDS OF FAMILIES. 0 0 7922419 387202 9196205 LOAN FUND PROGRAMS: LENDING PROGRAMS TO ASSIST HISPANIC AGENCIES AS WELL AS OTHER AGENCIES SERVING LOW INCOME COMMUNITIES BY INCREASING ACCESS TO CAPITAL, STRENGTHENING AFFILIATE RELATIONS AND PROMOTE ECONOMIC AND FINANCIAL LITERACY AT THE AGENCY LEVEL. LOANS APPROVED 31. 7922419 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 56 0 1 29 1 0 0 0 0 0 0 0 0 0 0 X 10 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 AZ X RODRIGO VELA CFO 6024171403 1 E WASHINGTON STREET NO 2250 PHOENIX AZ 85004 JAMES W FEILD BOARD CHAIR 1.00 X X 0 0 0 ARABELLA MARTINEZ VICE CHAIRPERSON/SECRETARY 1.00 X X 0 0 0 ART RUIZ BOARD MEMBER 1.00 X 0 0 0 ROLDAN TRUJILLO BOARD MEMBER 1.00 X 0 0 0 KIMBERLY LATIMER-NELLIGAN BOARD MEMBER 1.00 X 0 0 0 JOSEPH F REILLY BOARD MEMBER 1.00 X 0 0 0 KENNETH I TRUJILLO BOARD MEMBER 1.00 X 0 0 0 JANIS BOWDLER BOARD MEMBER 1.00 X 0 0 0 JANET MURGUIA BOARD MEMBER 1.00 40.00 X 0 459642 38281 TOM ESPINOZA PRESIDENT/CEO 40.00 X X 337322 0 36596 MARK VAN BRUNT COO 40.00 X 259462 0 43025 RODRIGO VELA CFO 40.00 X 238167 0 41687 DAVID CLOWER CHIEF CREDIT OFFICER 40.00 X 179645 0 37007 ANGELA STEPHENSON DIRECTOR - EDUCATION & CHILDCARE 40.00 X 120099 0 14766 JUAN MADRID CONTROLLER 40.00 X 115547 0 31892 SILVIA URRUTIA DIRECTOR - HOUSING & HEALTHCARE 40.00 X 115541 0 24639 GUADALUPE GOMEZ DIRECTOR - US/MEXICO BORDER REGION 40.00 X 106732 0 15460 1472515 459642 283353 8 0 1 0 VERACRUZ ADVISORY LLC 412 S SHORE DR STE 1A SARASOTA FL 34234 LOAN ORIGINATION SERVICES 384123 SCS ENGINEERS 3900 KILROY AIRPORT WAY STE 100 LONG BEACH CA 90806 LAND ENVIRONMENTAL TESTING 187760 REMAX NEW HEIGHTS REALTY 6427 S CENTRAL AVE STE 100 PHOENIX AZ 85042 PROJECT MANAGEMENT 186290 BERGMAN & ALLDERDICE 1200 WILSHIRE BLVD STE 610 LOS ANGELES CA 90017 LEGAL FEES 170078 UNITED FUND ADVISORS 24 NW 1ST AVE STE 470 PORTLAND OR 97209 NMTC ADVISORY SERVICES 157500 6 326500 326500 LOAN INTEREST INCOME 900009 7689354 7689354 ORIGINATION FEES 900009 987851 987851 NMTC/LOAN FEES 900009 519000 519000 9196205 138610 138610 29858 29858 29858 9691173 9196205 0 168468 377202 377202 10000 10000 1479233 727799 701477 49957 1224309 1146010 78299 199114 136278 58608 4228 605761 442428 152345 10988 184054 129173 51548 3333 50213 50213 108198 78052 30146 1115166 935131 180035 196819 9934 186831 54 40143 31727 7514 902 44143 36861 5600 1682 364151 231897 118159 14095 336260 295082 36781 4397 2653052 2653052 50648 50648 116734 116734 SERVICE CHARGES 180005 160490 18641 874 MEMBERSHIPS & SUBSCRIPT 112518 90221 22072 225 BOARD RELATED EXPENSES 19786 16679 2771 336 220198 196808 20944 2446 9687707 7922419 1671771 93517 18756314 13231049 15418485 15308952 666076 549824 113377347 139510205 1492705 184659 721892 439519 250432 282373 619691 866254 799305 0 1361621 150827613 171847679 578205 409816 29000 57000 986436 18800000 17873393 61000000 83646017 11309587 11035308 92703228 113021534 X 42706118 43348526 15418267 15477619 58124385 58826145 150827613 171847679 X 3466 698294 X X 0 1 X 1 1 1 X X 1 NATIONAL COUNCIL OF LA RAZA INC 860212873 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 176024 13389 162635 59713 39457 20256 486155 386673 99482 282373 UNFUNDED COMMITMENTS 11875 EQUITY EQUIVALENT INVESTMENTS 11000000 ACCRUED LEASE EXPENSE 23433 11035308 X 7038121 -2653052 -2653052 9691173 0 9691173 6336361 -698294 -698294 7034655 2653052 2653052 9687707 PART X, LINE 2: RDF IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, RDF QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. RDF HAD NO NET UNRELATED BUSINESS INCOME TAX FOR THE YEARS ENDED SEPTEMBER 30, 2016 AND 2015. MANAGEMENT EVALUATED RDF'S TAX POSITIONS AND CONCLUDED THAT RDF HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. CONSEQUENTLY, NO ACCRUAL FOR INTEREST AND PENALTIES WAS DEEMED NECESSARY FOR THE YEARS ENDED SEPTEMBER 30, 2016 AND 2015. RDF FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. RDF IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THE YEARS BEFORE 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST EXPENSE -2,653,052. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE -698,294. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,653,052. 1 ALL SAINTS CATHOLIC NEWMAN CENTER 230 EAST UNIVERSITY DRIVE TEMPE AZ 85281 300514126 501(C)(3) 11875 COMMUNITY DEVELOPMENT ASU FOUNDATION 555 N CENTRAL AVE STE 302 PHOENIX AZ 85004 866051042 501(C)(3) 100000 COMMUNITY DEVELOPMENT EN FAMILIA INC PO BOX 6159 PHOENIX AZ 85005 460932624 501(C)(3) 10000 COMMUNITY DEVELOPMENT HOLY TRINITY CATHOLIC NEWMAN CENTER 520 W RIORDAN ROAD FLAGSTAFF AZ 86001 320439043 501(C)(3) 25500 COMMUNITY DEVELOPMENT HOSANNA FOUNDATION PO BOX 3333 ONTARIO CA 91761 205042625 501(C)(3) 27000 COMMUNITY DEVELOPMENT MARISOL FEDERAL CREDIT UNION 721 N 3RD ST PHOENIX AZ 85004 860125352 501(C)(14) 68731 COMMUNITY DEVELOPMENT NEDCO 10 W MAIN ST MESA AZ 85201 860888028 501(C)(3) 10000 COMMUNITY DEVELOPMENT UNIVERSITY OF PENNSYLVANIADREXEL UNIVERSITY NEWMAN CENTER 3728 CHESTNUT ST PHILADELPHIA PA 19104 231716502 501(C)(3) 15000 COMMUNITY DEVELOPMENT SAINT PAUL'S OUTREACH 5814 BLACKSHIRE PATH INVER GROVE HEIGHTS MN 55076 411621192 501(C)(3) 10000 COMMUNITY DEVELOPMENT UNIVERSITY OF MARY TEMPE 215 E 7TH ST TEMPE AZ 85281 450273403 501(C)(3) 12000 COMMUNITY DEVELOPMENT ST CATHERINE OF SIENA CATHOLIC SCHOOL 6413 S CENTRAL AVE PHOENIX AZ 85042 300514550 501(C)(3) 50000 COMMUNITY DEVELOPMENT 10 1 BOOK WRITING GRANT 1 10000 PART I, LINE 2: RDF HAS A GRANT CONTRACT WITH ITS GRANTEES, WHICH ENCOMPASS THE VARIOUS PROJECT STAGES. THE CAPITAL IS ALLOCATED TO THIRD PARTY CONSULTANTS THAT PROVIDE THE TECHNICAL ASSISTANCE AND DEVELOPMENT PRACTICES FOR THE IMPLEMENTATION IN THE PROJECT. X X X 1 0 0 0 0 0 0 0 0 JANET MURGUIA BOARD MEMBER 0 456510 0 0 0 3132 0 17500 0 20781 0 497923 0 0 TOM ESPINOZA PRESIDENT/CEO 296919 0 37355 0 3048 0 21200 0 15396 0 373918 0 0 0 MARK VAN BRUNT COO 223400 0 30728 0 5334 0 20538 0 22487 0 302487 0 0 0 RODRIGO VELA CFO 192789 0 45000 0 378 0 19200 0 22487 0 279854 0 0 0 DAVID CLOWER CHIEF CREDIT OFFICER 179290 0 0 0 355 0 14520 0 22487 0 216652 0 0 0 PART I, LINE 4A MS. STEPHENSON RECEIVED A SEVERANCE PACKAGE FROM RAZA DEVELOPMENT FUND, INC. THAT WAS WITHIN THE TERMS AND CONDITIONS OF THE AGREEMENT. THE SEVERANCE WAS BASED ON LENGTH OF SERVICE AND RESPONSIBILITIES. ADDITIONAL TERMS AND CONDITIONS OF THE CONFIDENTIAL SEVERANCE AGREEMENT WILL BE PROVIDED TO THE IRS UPON REQUEST. AMOUNTS PAID DURING THE CURRENT PERIOD ARE PROPERLY REFLECTED ON THE EMPLOYEES W-2 AND DISCLOSED ON FORM 990, PART VII, COLUMN D. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S FORM 990 UNDERGOES A NUMBER OF INTERNAL AND EXTERNAL REVIEWS BEFORE IT IS FILED WITH THE IRS. THE RETURN IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM, AND IS REVIEWED BY THE ORGANIZATION'S CHIEF FINANCIAL OFFICER. A FINAL DRAFT OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT BEFORE IT IS FILED WITH THE IRS. ANY QUESTIONS OR ISSUES ARE ADDRESSED AND RESOLVED WITH THE CHIEF FINANCIAL OFFICER. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS DESIGNED TO HELP DIRECTORS, OFFICERS AND EMPLOYEES OF THE CORPORATION IDENTIFY SITUATIONS THAT PRESENT POTENTIAL CONFLICTS OF INTEREST AND PROVIDE THEM WITH PROCEDURES WHICH, IF FOLLOWED, WILL HELP ASSURE THAT THE CORPORATION ENTERS INTO A FINANCIAL TRANSACTION AND ARRANGEMENTS THAT ARE IN ITS INTERESTS, VALID AND BINDING. ANY INTERESTED PARTY WITH A POTENTIAL CONFLICT OF INTEREST SHALL DISCLOSE ITS CONFLICT TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS, WHICH THEN DELIBERATES IN THE ABSENCE OF THE INTERESTED PARTY THE EXISTENCE OR ABSENCE OF CONFLICT. AFTER MAKING SUCH DETERMINATION BY VOTE, THE COMMITTEE COMMUNICATES ITS CONCLUSION TO THE CORRESPONDING AUTHORITY THAT HAS APPROVALS TO ENTER INTO SUCH FINANCIAL TRANSACTION, AND THEN A VOTE BY THAT AUTHORITY ON WHETHER THE CORPORATION SHOULD ENTER OR NOT ENTER SUCH A FINANCIAL TRANSACTION TAKES PLACE WITHOUT THE INPUT OF THE INTERESTED PARTY IF A CONFLICT DEEMED TO EXIST. FORM 990, PART VI, SECTION B, LINE 15A THE PERSONNEL COMMITTEE IS CHARGED WITH THE PERFORMANCE REVIEW OF THE PRESIDENT & CEO. THE REVIEW IS BASED ON THE ANNUAL OPERATING GOALS ESTABLISHED FOR THE ORGANIZATION, THESE INCLUDE PRODUCTIONS, FINANCIAL, FUND RAISING AND OPERATION GOALS. BASED ON THE OVERALL PERFORMANCE THE COMMITTEE RECOMMENDS A SALARY MODIFICATION AND BONUS, THAT IS REVIEWED AND APPROVED BY YHE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAINTAINS AN UPDATED COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC REVIEW FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CREDIT FOR LOAN LOSSES 406,585. ACCRUAL FOR UNFUNDED COMMITMENTS 291,709. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES DURING THE YEAR IN THE PROCESS. RAZA COMMUNITY VENTURES LLC (RCV) 1 E WASHINGTON STREET STE 2250 PHOENIX AZ 85004 521954196 HOLDING ASSETS FOR COMMUNITY DEVELOPMENT AZ 0 3054707 RAZA DEVELOPMENT FUND INC RDF FUND MANAGER LLC (RDFFM) 1 E WASHINGTON STREET STE 2250 PHOENIX AZ 85004 453280259 MANAGE BUSINESS AND CARRY-OUT THE PURPOSE OF THE INVESTMENT FUND AZ -11 24437 RAZA DEVELOPMENT FUND INC 1200 NORTH PARK STREET PARTNERS LLC 1 E WASHINGTON STREET STE 2250 PHOENIX AZ 85004 521954196 OWN AND LEASE REAL PROPERTY FOR COMMUNITY DEVELOPMENT MN 15793 169260 RAZA COMMUNITY VENTURES LLC NAITONAL COUNCIL OF LA RAZA INC 1126 16TH STREET NW WASHINGTON DC 20036 860212873 WORKS TO IMPROVE OPPORTUNITES FOR HISPANIC AMERICANS AZ 501(C)(3) LINE 7 N/A 0 STRATEGIC INVESTMENT FUND FOR LA RAZA INC 1126 16TH STREET NW WASHINGTON DC 20036 522268398 SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF NCLR DE 501(C)(3) LINE 11A, I N/A 0 CHASE NMTC EXCEL INVESTMENT FUND LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 452772405 COMMUNITY DEVELOPMENT DE RDF FUND MANAGER LLC RELATED -4 859 0 1 0.00010 CHASE NMTC FBRGV INVESTMENT FUND LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 452772484 COMMUNITY DEVELOPMENT DE RDF FUND MANAGER LLC RELATED -7 1261 0 1 0.00010 PARTNERSHIPS OF HOPE I LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 272096685 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 11 833 0 1 0.00010 PARTNERSHIPS OF HOPE II LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 272096768 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 3 7736 0 1 0.00010 PARTNERSHIPS OF HOPE III LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 272096840 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 14 20223 0 1 0.00010 PARTNERSHIPS OF HOPE IV LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 272096897 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 0 1 0.00010 PARTNERSHIPS OF HOPE V LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 272096932 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 3 10991 0 1 0.00010 PARTNERSHIPS OF HOPE VI LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 452500179 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 2 4125 0 1 0.00010 PARTNERSHIPS OF HOPE VII LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 452500213 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 3 496 0 1 0.00010 PARTNERSHIPS OF HOPE VIII LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 452500256 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 9 994 0 1 0.00010 PARTNERSHIPS OF HOPE IX LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 452500321 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 697 0 1 0.00010 PARTNERSHIPS OF HOPE X LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 452500384 COMMUNITY DEVELOPMENT DE RAZA DEVELOPMENT FUND RELATED 2 895 0 1 0.00010 PARTNERSHIPS OF HOPE XI LLC 1 E WASHINGTON ST 2250 PHOENIX AZ 85004 454982815 COMMUNITY DEVELOPMENT MO RAZA DEVELOPMENT FUND RELATED 10 698 0 1 0.00010 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 PARTNERSHIPS OF HOPE II L 57000 ACCRUAL PARTNERSHIPS OF HOPE III L 79000 ACCRUAL PARTNERSHIPS OF HOPE IV L 60000 ACCRUAL