2016-11-15T11:06:32-06:00 2015-12-31 420714325 RSM US LLP 751 ARBOR WAY SUITE 200 BLUE BELL PA 19422 990 2015-01-01 205189202 OPPORTUNITY FINANCE NETWORK OPPO 2159234754 620 CHESTNUT STREET NO 572 PHILADELPHIA PA 19106 FRANCIS A LUTZ INTERIM CEO 2159234754 2016-11-14 1 CHRISTOPHER M PEKULA P00734965 2156418600 2016-11-14 2015 2017-02-10 21:41:12Z FRANCIS A LUTZ 620 CHESTNUT STREET NO 572 PHILADELPHIA PA 19106 13864852 0 X WWW.OFN.ORG X 2006 PA SEE SCHEDULE O 13 13 49 13 0 0 10135013 6260098 5877795 6979976 265030 250585 1021810 0 17299648 13490659 1161513 1004691 0 0 5132524 4948582 0 0 457646 5575762 6553337 11869799 12506610 5429849 984049 125261510 132546390 71866425 78213208 53395085 54333182 X SEE SCHEDULE O 1 0 4126269 950000 4851428 FINANCIAL SERVICES: FINANCIAL SERVICES INCLUDES THE FOLLOWING ACTIVITIES WHICH BENEFIT LOW-INCOME AND LOW-WEALTH COMMUNITIES THROUGHOUT THE U.S: OFN'S FINANCING FUND (ON BALANCE-SHEET LENDING AND INVESTING TO CDFIS), ASSET MANAGEMENT (FEE-BASED BUSINESS PROVIDING UNDERWRITING AND MONITORING SERVICES TO THIRD PARTY INVESTORS INVESTING IN CDFIS), NEW MARKETS TAX CREDIT ACTIVITY, CDFI BOND GUARANTEE PROGRAM BOND ISSUANCE AND ADMINISTRATIVE SERVICES, AND OTHER FINANCING RESEARCH AND DEVELOPMENT. OFN PROVIDES FINANCING TO ITS NETWORK OF CDFIS WHICH BENEFITS MILLIONS OF LOW-INCOME AND LOW-WEALTH PEOPLE AND COMMUNITIES. THROUGH ITS FINANCING FUND, OFN PROVIDES BELOW-MARKET RATE LOANS AND INVESTMENTS TO CDFIS, WHICH IN TURN PROVIDE LOANS AND INVESTMENTS TO INDIVIDUALS AND ORGANIZATIONS THAT WOULD NOT OTHERWISE HAVE ACCESS TO REASONABLE AND RELIABLE FINANCING. AS AN APPROVED QUALIFIED ISSUER (QI) UNDER THE CDFI BOND GUARANTEE PROGRAM, OFN CAN ISSUE GOVERNMENT-GUARANTEED BONDS ON BEHALF OF QUALIFIED CDFIS. ALL BOND PROCEEDS ARE PASSED THROUGH OFN TO CDFI FUND-CERTIFIED CDFIS WHO MEET CERTAIN ELIGIBILITY REQUIREMENTS TO FINANCE QUALIFIED ACTIVITIES SUCH AS AFFORDABLE HOUSING, COMMUNITY FACILITIES, CHARTER SCHOOLS, COMMUNITY HEALTH CLINICS, SMALL BUSINESSES, AND COMMERCIAL REAL ESTATE. 2245211 786099 KNOWLEDGE SHARING: OFN WORKS TO IMPROVE THE PERFORMANCE OF CDFIS SO THEY CAN BETTER SERVE LOW-INCOME, LOW-WEALTH COMMUNITIES. OFN PROVIDES TRAINING TO ITS NETWORK OF CDFIS AND OTHER KEY STAKEHOLDERS IN THE INDUSTRY. THIS TRAINING IMPROVES THE PERFORMANCE AND SUSTAINABILITY OF THESE CDFIS TO SERVE THEIR CLIENTELE OF LOW-INCOME PEOPLE AND COMMUNITIES, AND INCREASES RESOURCES AVAILABLE TO CDFIS. OTHER PRODUCTS AND SERVICES THAT IMPROVE THE PERFORMANCE OF CDFIS INCLUDE PUBLICATIONS, DATA COLLECTION AND ANALYSIS, MEMBERSHIP, REGIONAL MEETINGS, AND OTHER KNOWLEDGE SHARING ACTIVITIES. 1674244 50000 1182908 STRATEGIC CONSULTING: OFN'S STRATEGIC CONSULTING PRACTICE SERVES CDFIS, PROSPECTIVE CDFI INVESTORS, AND MAJOR INDUSTRY STAKEHOLDERS (E.G., THE CDFI FUND, MAJOR NATIONAL FOUNDATIONS). OFN ADVISES CDFIS ON BUILDING CAPACITY IN CORE OPERATIONAL, GOVERNANCE, STRATEGIC, AND FINANCIAL ISSUES, AS WELL AS WORKS WITH INVESTORS TO PROVIDE FINANCING TO CDFIS AND DESIGNING STRONG COMMUNITY DEVELOPMENT STRATEGIES. OFN'S CONSULTANTS SUPPORT STRATEGIES TO EXPAND CDFI COVERAGE GEOGRAPHICALLY AND DEMOGRAPHICALLY. 960885 0 PUBLIC POLICY: PUBLIC POLICY INCLUDES OFN'S PUBLIC EDUCATION, ADVOCACY, AND POLICY DEVELOPMENT WORK ON BEHALF OF CDFIS AND THE OPPORTUNITY FINANCE INDUSTRY TO INCREASE THE AMOUNT OF CAPITAL AND OTHER RESOURCES AVAILABLE TO CDFIS. 704674 4691 159541 STRATEGIC INITIATIVES: STRATEGIC INITIATIVES INCLUDES OFN'S CROSS-FUNCTIONAL HIGH IMPACT INITIATIVES THAT BENEFIT THE CDFI INDUSTRY WITH CAPITAL AND OTHER RESOURCES. THIS INCLUDES THE NEXT AWARDS, PERFORMANCE COUNTS (AN INDUSTRY-LED FINANCIAL REPORTING BEST PRACTICES INITIATIVE), AND INDUSTRY-WIDE TALENT DEVELOPMENT INITIATIVES. 1386471 0 STRATEGIC COMMUNICATIONS: STRATEGIC COMMUNICATIONS INCLUDES OFN'S WORK TO RAISE AWARENESS ABOUT AND CREATE A BROAD BASE OF SUPPORT FOR CDFIS AND THE PEOPLE AND COMMUNITIES THEY SERVE. 3052030 4691 159541 11097754 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 53 0 1 49 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA AK AL AR AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN MO NC ND NJ NH NM NY OH OK OR RI SC TN UT VA WA WI WV NV X LAURIE CURRAN 2153204317 620 CHESTNUT STREET PHILADELPHIA PA 19106 DONALD BOWEN BOARD MEMBER 2.00 X 0 0 0 LORI CHATMAN BOARD VICE CHAIR 2.00 X X 0 0 0 TRINITA LOGUE CHAIR OF THE BOARD 2.00 X X 0 0 0 JULIA NELMARK BOARD MEMBER, TREASURER 2.00 X X 0 0 0 JOHN BERDES BOARD MEMBER 2.00 X 0 0 0 KEITH BISSON BOARD MEMBER 2.00 X 0 0 0 PENELOPE DOUGLAS BOARD MEMBER 2.00 X 0 0 0 DAVID GLASER BOARD MEMBER 2.00 X 0 0 0 JIM KING BOARD MEMBER 2.00 X 0 0 0 INEZ LONG BOARD MEMBER 2.00 X 0 0 0 CHRYSTEL CORNELIUS BOARD MEMBER 2.00 X 0 0 0 SHANE JETT BOARD MEMBER 2.00 X 0 0 0 MARK PINSKY PRESIDENT & CEO 40.00 X 313976 0 24299 CATHERINE DOLAN CHIEF OPERATING OFFICER 40.00 X 217402 0 17374 FRANCIS LUTZ CHIEF FINANCIAL OFFICER 40.00 X 196346 0 20118 PAMELA PORTER EVP, STRATEGIC CONSULTING 40.00 X 185032 0 10463 ROBIN ODLAND EVP, FINANCIAL SERVICES 40.00 X 161740 0 21373 LINA PAGE EVP, STRATEGIC COMMUNICATI 40.00 X 156042 0 18194 NANCY SANTIAGO NEGRON CHIEF EXTERNAL AFFAIRS OFFICER 40.00 X 190828 0 15839 LIZ LOPEZ EVP, PUBLIC POLICY 40.00 X 163230 0 6524 1584596 0 134184 13 0 1 0 GMMB INC 3050 K STREET NW SUITE 100 WASHINGTON DC 20007 RESEARCH, PUBLIC RELATIONS, TECHNOLOGY P 319534 THOMAS MANNING 118 8TH AVENUE 5B BROOKLYN NY 11215 CONSULTING SERVICES 121499 2 365688 5894410 6260098 INTEREST ON LOANS 525990 3666517 3666517 TECHNICAL SERVICES 900099 2557690 2557690 TRAINING EVENTS 900099 743444 743444 OTHER FEES 900099 12325 12325 6979976 245945 245945 378833 374193 4640 4640 4640 13490659 6979976 0 250585 1004691 1004691 1011987 565940 370742 75305 3250987 2531407 488104 231476 19860 17868 918 1074 373660 320065 32442 21153 292088 237541 37226 17321 105371 105371 30431 28338 1449 644 96530 78950 11856 5724 11254 9151 1436 667 755562 755562 283719 235353 34153 14213 258283 208539 34428 15316 329626 265738 44341 19547 1266456 1226577 14181 25698 73752 64890 2292 6570 1084681 1084681 66265 54121 8214 3930 49667 40370 6352 2945 PROVISION FOR LOAN LOSS 257858 257858 TECHNOLOGY PROJECTS 87188 87188 STAFF DEVELOPMENT 55138 43393 8475 3270 RECRUITING 29279 24660 958 3661 1712277 1849502 -146357 9132 12506610 11097754 951210 457646 500 500 18916892 20564402 3325853 898141 315837 535028 98228479 106100955 81302 119758 884740 706909 163845 177831 4067820 4039743 159143 108187 1839 1845 125261510 132546390 781425 1593208 0 170000 68085000 71450000 3000000 5000000 71866425 78213208 X 32475540 35787455 20919545 18545727 53395085 54333182 125261510 132546390 984049 -45952 0 X 0 1 X 1 1 1 X 35138455 12391470 4118593 10135013 6260098 68043629 5298759 5990912 5413685 5877795 6967651 29548802 40437214 18382382 9532278 16012808 13227749 97592431 27779354 7089028 3572721 8663002 6157733 53261838 0 27779354 7089028 3572721 8663002 6157733 53261838 44330593 319395 290152 291485 255502 245945 1402479 319395 290152 291485 255502 245945 1402479 758658 740138 1021810 2520606 40756609 19431192 10563901 17290120 13473694 101515516 0.43670 0.43510 0.01380 0.01740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 1 48044 0 0 1 48044 0 0 96088 0 884740 706909 177831 177831 WELLS FARGO EQUITY EQUIVALENT INVESTMENT 5000000 5000000 X 13554213 -45952 109506 63554 13490659 0 13490659 12616116 109506 109506 12506610 0 12506610 PART X, LINE 2: INCOME TAXES: THE ORGANIZATION IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE ORGANIZATION 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. THE ORGANIZATION HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014, RESPECTIVELY. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. CONSEQUENTLY, NO ACCRUAL FOR INTEREST AND PENALTIES WAS DEEMED NECESSARY FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014. THE ORGANIZATION FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND COMMONWEALTH OF PENNSYLVANIA. GENERALLY, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION BY THE U.S. FEDERAL OR STATE TAX AUTHORITIES FOR YEARS BEFORE 2012. 1 THE DISABILITY FUND 201 IU WILLETS ROAD ALBERTSON NY 115071599 260283588 501C3 100000 FMV - CASH WELLS FARGO NEXT AWARDS JUSTINE PETERSON HSG & REINVESTMENT CORP 1023 NORTH GRAND BLVD ST LOUIS MO 63106 431769074 501C3 100000 FMV - CASH WELLS FARGO NEXT AWARDS CITIZEN POTAWATOMI CDC 130 E MACARTHUR SUITE 206 SHAWNEE OK 74804 730945447 N/A 100000 FMV - CASH WELLS FARGO NEXT AWARDS UNIVERSITY FINL CORPDBA SUNRISE BANKS 200 UNIVERSITY AVENUE WEST ST PAUL MN 55103 411557799 N/A 200000 FMV - CASH WELLS FARGO NEXT AWARDS FREEDOM FIRST FEDERAL CREDIT UNION 5240 VALLEYPARK DRIVE ROANOKE VA 24019 540699770 N/A 225000 FMV - CASH WELLS FARGO NEXT AWARDS LOWER EAST SIDE FCU 37 AVENUE B NEW YORK NY 10009 133371118 N/A 225000 FMV - CASH WELLS FARGO NEXT AWARDS METROPOLITAN ECONOMIC DEV ASSO 250 2ND AVENUE SOUTH SUITE 106 MINNEAPOLIS MN 55401 410977257 501C3 50000 FMV - CASH 2015 SMALL BUSINESS LEADER AWARD 4 4 PART I, LINE 2: OFN PROVIDES GRANTS TO CDFIS THROUGH WELLS FARGO NEXT AWARDS PROGRAM TO PROPEL THESE ORGANIZATIONS TO THE NEXT LEVEL OF GROWTH, SUSTAINABILITY, AND IMPACT IN LOW-INCOME COMMUNITIES. FOR GRANTS MADE THROUGH THE NEXT AWARDS PROGRAM, CDFIS REPORT TO OFN ON THE USE OF FUNDS AND THEIR IMPACT IN THEIR LOW-INCOME AND LOW-WEALTH COMMUNITIES. OFN ALSO MAKES PASS-THROUGH GRANTS TO CDFIS THROUGH THE CREATE JOBS FOR USA FUND. FOR GRANTS MADE THROUGH CREATE JOBS FOR USA, CDFIS REPORT TO OFN ON THE COMMUNITY BUSINESSES FINANCED AND ON JOB CREATED AND MAINTAINED ON A QUARTERLY BASIS. X X 0 0 0 0 0 0 0 0 0 MARK PINSKY PRESIDENT & CEO 313976 0 0 0 0 0 2700 0 21599 0 338275 0 0 0 CATHERINE DOLAN CHIEF OPERATING OFFICER 217402 0 0 0 0 0 2700 0 14674 0 234776 0 0 0 FRANCIS LUTZ CHIEF FINANCIAL OFFICER 196346 0 0 0 0 0 1094 0 19024 0 216464 0 0 0 PAMELA PORTER EVP, STRATEGIC CONSULTING 185032 0 0 0 0 0 2700 0 7763 0 195495 0 0 0 ROBIN ODLAND EVP, FINANCIAL SERVICES 161740 0 0 0 0 0 0 0 21373 0 183113 0 0 0 LINA PAGE EVP, STRATEGIC COMMUNICATI 156042 0 0 0 0 0 2700 0 15494 0 174236 0 0 0 NANCY SANTIAGO NEGRON CHIEF EXTERNAL AFFAIRS OFFICER 190828 0 0 0 0 0 388 0 15451 0 206667 0 0 0 LIZ LOPEZ EVP, PUBLIC POLICY 163230 0 0 0 0 0 0 0 6524 0 169754 0 0 0 FORM 990, PART I, LINE 1 OFN EXISTS TO ALIGN CAPITAL WITH SOCIAL, ECONOMIC, AND POLITICAL JUSTICE. OFN BELIEVES IN OPPORTUNITY. FOR ALL. OFN'S MISSION IS TO LEAD CDFIS AND THEIR PARTNERS TO ENSURE THAT LOW-INCOME, LOW-WEALTH, AND OTHER DISADVANTAGED PEOPLE AND COMMUNITIES HAVE ACCESS TO AFFORDABLE, RESPONSIBLE FINANCIAL PRODUCTS AND SERVICES. WHEN CAPITAL AND JUSTICE ARE ALIGNED, ALL PEOPLE WILL HAVE THE RESOURCES AND OPPORTUNITIES TO ACT IN THE BEST INTERESTS OF THEIR COMMUNITIES, THEMSELVES, AND FUTURE GENERATIONS. OFN IS A NATIONAL MEMBERSHIP ORGANIZATION OF MORE THAN 235 COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). THROUGH ITS NETWORK OF MEMBERS, OFN INVESTS IN SMALL BUSINESSES, QUALITY AFFORDABLE HOUSING, CHILDCARE, AND COMMUNITY FACILITIES IN ECONOMICALLY DISADVANTAGED URBAN, RURAL, AND NATIVE AMERICAN COMMUNITIES ACROSS ALL 50 STATES. OFN'S PROGRAM AND SERVICES INCLUDES FINANCIAL PRODUCTS AND SERVICES FOR CDFIS, TRAINING AND CONSULTING SERVICES FOR THE INDUSTRY, AND POLICY WORK ON BEHALF OF THE INDUSTRY. (WWW.OFN.ORG) FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATIONS'S MISSION: OFN EXISTS TO ALIGN CAPITAL WITH SOCIAL, ECONOMIC, AND POLITICAL JUSTICE. OFN BELIEVES IN OPPORTUNITY. FOR ALL. OFN'S MISSION IS TO LEAD CDFIS AND THEIR PARTNERS TO ENSURE THAT LOW-INCOME, LOW-WEALTH, AND OTHER DISADVANTAGED PEOPLE AND COMMUNITIES HAVE ACCESS TO AFFORDABLE, RESPONSIBLE FINANCIAL PRODUCTS AND SERVICES. WHEN CAPITAL AND JUSTICE ARE ALIGNED, ALL PEOPLE WILL HAVE THE RESOURCES AND OPPORTUNITIES TO ACT IN THE BEST INTERESTS OF THEIR COMMUNITIES, THEMSELVES, AND FUTURE GENERATIONS. OFN IS A NATIONAL MEMBERSHIP ORGANIZATION OF MORE THAN 235 COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). THROUGH ITS NETWORK OF MEMBERS, OFN INVESTS IN SMALL BUSINESSES, QUALITY AFFORDABLE HOUSING, CHILDCARE, AND COMMUNITY FACILITIES IN ECONOMICALLY DISADVANTAGED URBAN, RURAL, AND NATIVE AMERICAN COMMUNITIES ACROSS ALL 50 STATES. OFN'S PROGRAM AND SERVICES INCLUDES FINANCIAL PRODUCTS AND SERVICES FOR CDFIS, TRAINING AND CONSULTING SERVICES FOR THE INDUSTRY, AND POLICY WORK ON BEHALF OF THE INDUSTRY. (WWW.OFN.ORG) FORM 990, PART III, LINE 2 IN 2013, OFN FORMED THE FOLLOWING FIVE ENTITIES TO RECEIVE AND MANAGE NEW ALLOCATIONS UNDER THE NEW MARKETS TAX CREDIT PROGRAM (NMTC) OF THE U.S. DEPARTMENT OF TREASURY: OPPORTUNITY FUND I, LP, OPPORTUNITY FUND II, LP, OPPORTUNITY FUND III, LP, OPPORTUNITY FUND IV, LP, AND OPPORTUNITY FUND V, LP. NCCA GENERAL PARTNER, LLC SERVES AS THE GENERAL PARTNER FOR THESE FIVE NEW ENTITIES. IN DECEMBER 2013, OFN APPLIED FOR AND SUBSEQUENTLY RECEIVED COMMUNITY DEVELOPMENT ENTITY (CDE) CERTIFICATION FOR ALL FIVE NEWLY-FORMED ENTITIES FROM THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND (THE CDFI FUND) OF THE UNITED STATES DEPARTMENT OF THE TREASURY. AS OF DECEMBER 31, 2015, OPPORTUNITY FUND I, LP AND OPPORTUNITY FUND II, LP WERE CAPITALIZED AND ACTIVE. THE REMAINING THREE ENTITIES WERE NOT YET CAPITALIZED AND NOT YET ACTIVE. FORM 990, PART VI, SECTION A, LINE 6 PER OFN'S BYLAWS, THERE IS ONE CLASS OF MEMBERSHIP AVAILABLE TO PRIVATE, NON-GOVERNMENTAL, MISSION-DRIVEN FINANCIAL INSTITUTIONS THAT MEET THE QUALIFICATIONS FOR MEMBERSHIP. EACH MEMBER IS ENTITLED TO BE REPRESENTED AT ANY MEETING OF THE MEMBERS BY UP TO TWO DELEGATES, WHO SHALL BE EITHER AN EMPLOYEE OF OR A BOARD MEMBER OF THE MEMBER. THE PRESENCE IN PERSON OF DELEGATES REPRESENTING AT LEAST ONE-THIRD OF THE MEMBERS CONSTITUTES A QUORUM FOR THE TRANSACTION OF BUSINESS. WHEN A QUORUM IS PRESENT AT ANY MEETING, THE MAJORITY OF THE VOTES PRESENT DECIDES ANY QUESTION BROUGHT BEFORE THE MEETING. EACH MEMBER IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. ALL VOTING, EXCEPT ELECTIONS FOR DIRECTORS WHICH IS BY WRITTEN BALLOT, MAY BE BY VOICE VOTE OR BALLOT. AT LEAST TWO-THIRDS OF THE DIRECTORS ARE ELECTED BY THE MEMBERS. UP TO ONE-THIRD OF THE DIRECTORS ARE APPOINTED BY THE BOARD OF DIRECTORS. NOMINATIONS FOR CANDIDATES FOR DIRECTOR ARE MADE BY A WRITTEN NOTICE TO THE NOMINATING COMMITTEE AND MUST BE ENDORSED BY NOT LESS THAT TWO (2) MEMBERS AND DELIVERED AT LEAST SIXTY (60) DAYS BEFORE THE ELECTION. ALL NOMINATIONS SO MADE BY MEMBERS ARE PRESENTED TO THE MEMBERSHIP FOR CONSIDERATION. NEW BYLAWS MAY BE ADOPTED, OR THE EXISTING BYLAWS MAY BE AMENDED OR REPEALED, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES REPRESENTED AND VOTING AT A DULY HELD MEETING OF MEMBERS AT WHICH A QUORUM IS PRESENT. FORM 990, PART VI, SECTION A, LINE 7A PER OFN'S BYLAWS, THERE IS ONE CLASS OF MEMBERSHIP AVAILABLE TO PRIVATE, NON-GOVERNMENTAL, MISSION-DRIVEN FINANCIAL INSTITUTIONS THAT MEET THE QUALIFICATIONS FOR MEMBERSHIP. EACH MEMBER IS ENTITLED TO BE REPRESENTED AT ANY MEETING OF THE MEMBERS BY UP TO TWO DELEGATES, WHO SHALL BE EITHER AN EMPLOYEE OF OR A BOARD MEMBER OF THE MEMBER. THE PRESENCE IN PERSON OF DELEGATES REPRESENTING AT LEAST ONE-THIRD OF THE MEMBERS CONSTITUTES A QUORUM FOR THE TRANSACTION OF BUSINESS. WHEN A QUORUM IS PRESENT AT ANY MEETING, THE MAJORITY OF THE VOTES PRESENT DECIDES ANY QUESTION BROUGHT BEFORE THE MEETING. EACH MEMBER IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. ALL VOTING, EXCEPT ELECTIONS FOR DIRECTORS WHICH IS BY WRITTEN BALLOT, MAY BE BY VOICE VOTE OR BALLOT. AT LEAST TWO-THIRDS OF THE DIRECTORS ARE ELECTED BY THE MEMBERS. UP TO ONE-THIRD OF THE DIRECTORS ARE APPOINTED BY THE BOARD OF DIRECTORS. NOMINATIONS FOR CANDIDATES FOR DIRECTOR ARE MADE BY A WRITTEN NOTICE TO THE NOMINATING COMMITTEE AND MUST BE ENDORSED BY NOT LESS THAT TWO (2) MEMBERS AND DELIVERED AT LEAST SIXTY (60) DAYS BEFORE THE ELECTION. ALL NOMINATIONS SO MADE BY MEMBERS ARE PRESENTED TO THE MEMBERSHIP FOR CONSIDERATION. NEW BYLAWS MAY BE ADOPTED, OR THE EXISTING BYLAWS MAY BE AMENDED OR REPEALED, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES REPRESENTED AND VOTING AT A DULY HELD MEETING OF MEMBERS AT WHICH A QUORUM IS PRESENT. FORM 990, PART VI, SECTION A, LINE 7B PER OFN'S BYLAWS, THERE IS ONE CLASS OF MEMBERSHIP AVAILABLE TO PRIVATE, NON-GOVERNMENTAL, MISSION-DRIVEN FINANCIAL INSTITUTIONS THAT MEET THE QUALIFICATIONS FOR MEMBERSHIP. EACH MEMBER IS ENTITLED TO BE REPRESENTED AT ANY MEETING OF THE MEMBERS BY UP TO TWO DELEGATES, WHO SHALL BE EITHER AN EMPLOYEE OF OR A BOARD MEMBER OF THE MEMBER. THE PRESENCE IN PERSON OF DELEGATES REPRESENTING AT LEAST ONE-THIRD OF THE MEMBERS CONSTITUTES A QUORUM FOR THE TRANSACTION OF BUSINESS. WHEN A QUORUM IS PRESENT AT ANY MEETING, THE MAJORITY OF THE VOTES PRESENT DECIDES ANY QUESTION BROUGHT BEFORE THE MEETING. EACH MEMBER IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. ALL VOTING, EXCEPT ELECTIONS FOR DIRECTORS WHICH IS BY WRITTEN BALLOT, MAY BE BY VOICE VOTE OR BALLOT. AT LEAST TWO-THIRDS OF THE DIRECTORS ARE ELECTED BY THE MEMBERS. UP TO ONE-THIRD OF THE DIRECTORS ARE APPOINTED BY THE BOARD OF DIRECTORS. NOMINATIONS FOR CANDIDATES FOR DIRECTOR ARE MADE BY A WRITTEN NOTICE TO THE NOMINATING COMMITTEE AND MUST BE ENDORSED BY NOT LESS THAT TWO (2) MEMBERS AND DELIVERED AT LEAST SIXTY (60) DAYS BEFORE THE ELECTION. ALL NOMINATIONS SO MADE BY MEMBERS ARE PRESENTED TO THE MEMBERSHIP FOR CONSIDERATION. NEW BYLAWS MAY BE ADOPTED, OR THE EXISTING BYLAWS MAY BE AMENDED OR REPEALED, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES REPRESENTED AND VOTING AT A DULY HELD MEETING OF MEMBERS AT WHICH A QUORUM IS PRESENT. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING THE FORM 990, THE CHIEF FINANCIAL OFFICER AND THE VP OF ACCOUNTING REVIEW THE FORM FOR ACCURACY AND THEN FORWARD IT TO THE PRESIDENT & CEO FOR REVIEW. IN ADDITION, THE ORGANIZATION SENDS AN ELECTRONIC COPY OF THE FORM 990 TO ITS BOARD OF DIRECTORS. THIS IS PRIMARILY FOR INFORMATIONAL PURPOSES AND TO ALLOW FOR COMMENTS FROM THE BOARD, BUT DOES NOT REQUIRE ACTION FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE BOARD OF DIRECTORS SIGNS A POTENTIAL CONFLICT OF INTEREST STATEMENT WHICH STATES THAT THEY DO NOT HAVE A POTENTIAL CONFLICT OF INTEREST AS COVERED BY THE OPPORTUNITY FINANCE NETWORK'S CONFLICT OF INTEREST POLICY. IF THE BOARD MEMBER (OR ANY RELATED PARTY) IS INVOLVED IN TRANSACTIONS WITH OFN INCLUDING BUT NOT LIMITED TO LOAN AND GRANT APPLICATIONS TO OFN, AND CONSULTING CONTRACTS WITH OFN, THE BOARD MEMBER DISCLOSES THIS IN A SEPARATE STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT & CEO IS DETERMINED THROUGH AN ANNUAL PERFORMANCE REVIEW CONDUCTED BY THE BOARD OF DIRECTORS. THE EXECUTIVE & PERSONNEL COMMITTEE OF THE BOARD MANAGES THIS PROCESS BY REVIEWING THE PRESIDENT & CEO'S PERFORMANCE AGAINST SET GOALS. THEY USE A DOCUMENTED PROCESS OF SELF ASSESSMENT AND PERFORMANCE REVIEW. THIS COMMITTEE MEETS TO DEVELOP RECOMMENDATIONS WHICH ARE PRESENTED TO THE FULL BOARD FOR DECISION. THE FULL BOARD CONDUCTS AN EXECUTIVE SESSION WITH THE PRESIDENT & CEO TO DISCUSS HIS PERFORMANCE REVIEW AND COMPENSATION ACTION, AND TO DETERMINE GOALS FOR THE FOLLOWING YEAR. THESE RESULTS ARE DOCUMENTED FOR THE RECORDS. THE EXECUTIVE & PERSONNEL COMMITTEE AND THE BOARD OF DIRECTORS CONSISTS OF INDUSTRY PEERS WHO ARE WELL ACQUAINTED AND UP-TO-DATE ON COMPENSATION COMPARABILITY IN THE INDUSTRY. THEY MAY FROM TIME TO TIME SEEK CONFIRMATION OF INDUSTRY DATA AS THEY DEEM APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. NCCA GENERAL PARTNER LLC 620 CHESTNUT STREET SUITE 572 PHILADELPHIA PA 19106 113704951 OPERATE AS A GENERAL PARTNER OF CDFI TAX CREDIT FUND, LP DE 46046 172252 OPPORTUNITY FINANCE NETWORK OFN GP LLC 620 CHESTNUT STREET SUITE 572 PHILADELPHIA PA 19106 OPERATE AS A GENERAL PARTNER OF COMMUNITIES AT WORK FUND, LP DE 0 0 OPPORTUNITY FINANCE NETWORK OPPORTUNITY MORTGAGE NETWORK 620 CHESTNUT STREET SUITE 572 PHILADELPHIA PA 19106 208920619 INACTIVE PA OPPORTUNITY FINANCE NETWORK C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 NCCA GENERAL PARTNER LLC L 33716 CASH