2016-11-14T09:44:13-06:00 2016-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2015-07-01 222524015 NEW HAMPSHIRE COMMUNITY LOAN FUND INC NEWH 6032246669 7 WALL STREET CONCORD NH 03301 JULIANA EADES PRESIDENT 6032246669 2016-11-09 1 THOMAS WASHBURN CPA P00537319 5083669100 2016-11-03 2015 2017-02-10 21:41:12Z JULIANA EADES 7 WALL STREET CONCORD NH 03301 12117520 0 X WWW.COMMUNITYLOANFUND.ORG X 1983 NH TO SERVE AS A CATALYST, LEVERAGING FINANCIAL, HUMAN AND CIVIC RESOURCES TO ENABLE TRADITIONALLY UNDERSERVED PEOPLE TO ATTAIN AFFORDABLE HOMES, QUALITY JOBS AND CHILD CARE, AND BECOME FINANCIALLY INDEPENDENT. WE DO THIS BY PROVIDING LOANS, CAPITAL AND TECHNICAL ASSISTANCE; COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS AND PUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TO SOLVE PROBLEMS.ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRST COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION, AND IS RECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT, FINANCIAL STRENGTH AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE 2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHEST HONOR IN OUR FIELD. 15 14 58 14 0 0 4607789 4458599 6185299 7089733 44582 98074 281759 -18063 11119429 11628343 527950 595612 0 0 4624157 4649761 0 0 270771 4823169 5600809 9975276 10846182 1144153 782161 104617612 113051523 82630378 90039385 21987234 23012138 X 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, AND 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. 0 0 5035962 503494 6355193 AFFORDABLE HOUSING - SEE SCHEDULE O 3594095 0 946 CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O 1131066 70904 712971 ECONOMIC OPPORTUNITY - SEE SCHEDULE O 188114 21214 17176 IN FY 16, THE COMMUNITY LOAN FUND MADE ONE COMMUNITY FACILITIES LOAN TOTALING $108,000. THAT LOAN SUPPORTED THE REFINANCE OF A 6,100-SQUARE-FOOT CHILD CARE FACILITY SERVING 112 CHILDREN, 22 STAFF AND THE NEEDS OF WORKING PARENTS. WE ALSO PROVIDED 373 HOURS OF TECHNICAL ASSISTANCE.SINCE 1984, OUR COMMUNITY FACILITIES FINANCING HAS SUPPORTED ESSENTIAL SERVICES, INCLUDING NONPROFIT AND HOME-BASED CHILD DEVELOPMENT SERVICES, BY HELPING NONPROFIT ORGANIZATIONS BUY, RENOVATE, OR BUILD FACILITIES.WHEN ITS LEASE WITH THE SCHOOL DISTRICT EXPIRED, THE GREAT BAY KIDS' COMPANY EARLY EDUCATION CENTER NEEDED TO FIND A NEW HOME FOR ITS EXETER PROGRAM. ITS BOARD STARTED PLANNING TO BUILD A SCHOOL THAT WOULD SERVE UP TO 125 CHILDREN, INCLUDING THOSE UNDER AGE 2, AND TO DO IT IN A WAY THAT KEPT TUITION COSTS DOWN AND THE QUALITY OF CARE AND EDUCATION HIGH.IN FALL OF 2014, LENDERS AT THE SCHOOL'S BANK CONTACTED THE COMMUNITY LOAN FUND. GREAT BAY KIDS NEEDED MORE REAL ESTATE AND CONSTRUCTION FUNDING THAN THE BANK COULD PROVIDE AND HAD BARELY TWO MONTHS TO FILL THE GAP. THE COMMUNITY LOAN FUND CAME THROUGH NOT ONLY WITH THE NEEDED FINANCING, BUT WORKED WITH ADMINISTRATORS TO FIND GRANTS FOR CLASSROOM SUPPLIES AND EQUIPMENT SO COSTS COULD BE KEPT LOW.THE RESULT: WHEN CHILDREN ARRIVED AT THE BRAND-NEW GREAT BAY KIDS' COMPANY SCHOOL THE DAY AFTER LABOR DAY IN 2015, PRESCHOOLERS TOTED THE USUAL BASEBALL CAPS AND BACKPACKS, BUT SOME TINY FINGERS CLUTCHED BOTTLES AND BLANKETS. PARENTS WHO JUST A YEAR EARLIER HAD TO DRIVE THEIR INFANT TO ONE CHILD CARE CENTER AND THEIR PRESCHOOLER TO ANOTHER, IN DIFFERENT TOWNS, BREATHED SIGHS OF RELIEF. 188114 21214 17176 9949237 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 449 0 1 58 1 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X BONNIE SCADOVA 6032246669 7 WALL STREET CONCORD NH 03301 ANTHONY POORE MEMBER 1.00 X 0 0 0 BETSY MCNAMARA SECRETARY 1.00 X X 0 0 0 BRIGID MURRAY VICE SECRETARY 1.00 X X 0 0 0 CHRISTINA HILL MEMBER 1.00 X 0 0 0 DAN MULLER CHAIR 1.00 X X 0 0 0 DEBORAH BUTLER TREASURER 1.00 X X 0 0 0 JAMIE RICHARDSON MEMBER 1.00 X 0 0 0 JANET ACKERMAN VICE TREASURER 1.00 X X 0 0 0 JULIANA EADES PRESIDENT 40.00 X X 148030 0 11979 KIM CAPEN MEMBER 1.00 X 0 0 0 MICHAEL SWACK EMERITUS 1.00 X 0 0 0 PAUL SPANG MEMBER 1.00 X 0 0 0 PETER BRANKMAN MEMBER 1.00 X 0 0 0 SARAH VARELA MEMBER 1.00 X 0 0 0 TOM BUNNELL VICE CHAIR 1.00 X X 0 0 0 BONNIE SCADOVA CFO 40.00 X 101892 0 18872 DEBRA MILLER VICE PRESIDENT OF EXTERNAL RELATIONS 40.00 X 106503 0 15041 JOHN HAMILTON VICE PRESIDENT OF ECONOMIC OPPORTUNITY 40.00 X 101546 0 10585 457971 0 56477 4 0 1 0 0 2236437 2222162 93950 4458599 INTEREST FROM LOANS 531390 6694651 6694651 LOAN RELATED FEES 531390 362971 362971 TRAINING AND OTHER FEES 531390 32111 32111 7089733 83458 83458 503793 489177 14616 14616 14616 LOSS ON SALE OF OTHER ASSETS 900099 -18063 -18063 -18063 11628343 7086286 0 83458 133624 133624 461988 461988 297364 100755 163024 33585 3502552 3190421 161409 150722 107524 97549 5122 4853 462791 416775 23748 22268 279530 242715 22643 14172 24909 21651 2966 292 53929 35979 16332 1618 211685 161756 46635 3294 52201 43241 845 8115 314360 261584 23676 29100 50178 38762 10371 1045 103283 66683 36593 7 115821 110663 4309 849 49325 48254 856 215 2931850 2931850 184422 121151 63271 105775 68288 37487 LOAN LOSS PROVISION 1310609 1310609 TRAINING EXPENSES 40932 33409 6887 636 GURANTY FEE 38915 38915 PROPERTY EXPENSES 12615 12615 10846182 9949237 626174 270771 6608932 6185618 697318 638811 721586 464965 12255 15561 5669148 1517269 4225419 4151879 6485220 6570287 85857882 95024402 9000 104617612 113051523 1167795 1124112 438831 218036 72423752 80097237 8600000 8600000 82630378 90039385 X 10432220 12592625 11555014 10419513 21987234 23012138 104617612 113051523 782161 242743 0 X X 0 1 X 1 1 1 X 4203462 4680786 3086673 4607789 4458599 21037309 4203462 4680786 3086673 4607789 4458599 21037309 467429 20569880 151560 142090 106052 108072 83458 591232 21628541 30085658 0.95110 0.97350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 10847712 10847712 692386 173097 0 0 640849 614320 648764 692386 2596319 3894479 6041 7716 0 0 13757 160212 153580 162191 173097 649080 973620 932 13 0 0 945 0 0 321461 321461 4761503 1064775 3696728 586184 452494 133690 4151879 LOANS RECEIVABLE 92053947 F ROC USA 2097768 F OTHER PROGRAM-RELATED EQUITY INVESTMENTS 872687 F 95024402 EQUITY EQUIVALENTS PAYABLE 8600000 8600000 X 8347174 242743 -3523912 -3281169 11628343 0 11628343 6011661 0 6011661 4834521 4834521 10846182 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, 2016. THE COMMUNITY LOAN FUND'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST EXPENSE -2,931,850. PASS THROUGH GRANTS TO OTHERS -595,612. NET LOAN LOSS RESERVE IN KIND 3,550. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,931,850. PASS THROUGH GRANTS TO OTHERS 595,612. NET LOAN LOSS RESERVE 1,310,609. IN KIND -3,550. 1 BROOKFORD FARM 250 WEST RD CANTERBURY NH 03224 264475628 29008 CASH BUSINESS EDUCATION PROSPECT FARM 398 B PLAINS ROAD LIBSON NH 03585 002829420 14107 CASH BUSINESS EDUCATION THROWBACK BREWERY 121 LAFAYETTE RD UNIT 3 NORTH HAMPTON NH 03862 272829383 5500 CASH BUSINESS EDUCATION 3 IDA MATCHED SAVINGS GRANTS 134 461988 CASH PART I, LINE 2: PROGRAM MANAGERS OVERSEE GRANT PROGRAMS AND MONITOR THE USE OF FUNDS BY GRANTEES THROUGH A VARIETY OF MEANS INCLUDING PERFORMANCE REPORTS, FINANCIAL REPORTS, INVOICES, PHOTOGRAPHY AND OTHER FORMS OF SUBSTANTIATING DOCUMENTATION. X X X X 0 0 0 0 0 0 0 0 0 JULIANA EADES PRESIDENT 148030 0 0 0 0 0 0 0 11979 0 160009 0 0 0 X 5 35305 FAIR MARKET VALUE X NON-CASH GRANTS CONVERTED FROM LOANS PAYABLE BY DO 5 58645 FAIR MARKET VALUE 0 1 0 FORM 990, PT. III, LINE 4A FOUR COMMUNITY LOAN FUND PROGRAMS ADDRESS N.H.'S NEED FOR HOUSING FOR WORKING FAMILIES AND FOR FAMILIES WITH LOW INCOMES. 1. ROC-NH PROVIDES LOANS, ALONG WITH EDUCATIONAL AND TECHNICAL ASSISTANCE, TO BUILD LONG-TERM VALUE AND SECURITY FOR RESIDENTS OF N.H.'S MANUFACTURED-HOME COMMUNITIES. SINCE 1984, ROC-NH HAS PROVIDED TECHNICAL ASSISTANCE AND FINANCING FOR COMMUNITY PURCHASE AND IMPROVEMENT TO HELP HOMEOWNERS PURCHASE, MANAGE AND IMPROVE THEIR COMMUNITIES AS COOPERATIVE CORPORATIONS. AS OF JUNE 30, 2016, 120 RESIDENT-OWNED COMMUNITIES IN N.H. WERE HOME TO 6,772 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2016, THE COMMUNITY LOAN FUND MADE 22 LOANS TOTALING $11,144,825. IN DOING SO, IT PRESERVED 332 HOUSING UNITS AND PROVIDED 21,610 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, INC., 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 APRIL 21, 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 MORE THAN $47 MILLION IN LOANS SINCE 2002, WELCOME HOME LOANS HAVE SHOWN THESE BORROWERS TO BE BETTER-THAN-AVERAGE RISKS, WITH A CUMULATIVE LOSS RATE OF JUST 2.24 PERCENT. DURING FY 16, WELCOME HOME LOANS PROVIDED $5.62 MILLION IN FINANCING TO 100 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. WELCOME HOME LOANS PROVIDE A SECOND CHANCE FOR PEOPLE LIKE WANITA AND KEVIN ORDWAY. THE ORDWAYS HAD LOST THEIR HOME WHEN A COMBINATION OF IDENTITY THEFT, DISABILITY AND ILLNESS PUSHED THEM INTO BANKRUPTCY. THEY THOUGHT THEY MIGHT NEVER OWN A HOME AGAIN. ONE DAY, AS THEY WERE OUT SCOUTING RENTAL HONES IN RURAL N.H., THE ORDWAYS DROVE PAST A DOUBLE-WIDE MANUFACTURED HOME FOR SALE ON A COUPLE ACRES. IT LACKED THE GARAGE OR WORKSHOP THAT HANDYMAN KEVIN HOPED FOR, BUT HE THOUGHT, "I COULD PLAY WITH IT." THEY APPLIED FOR A WELCOME HOME LOAN AND, DESPITE THEIR PREVIOUS PROBLEMS, DEMONSTRATED THAT THEY COULD MAKE THE PAYMENTS. THEY GOT THE LOAN AND THE HOUSE. THEIR MONTHLY MORTGAGE, INSURANCE AND TAXES COMBINED WERE $535 LESS THAN THEY HAD PAID TO RENT. 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 1,486 AFFORDABLE APARTMENTS VALUED AT MORE THAN $200 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 $4.4 MILLION TO MATCH THE SAVINGS OF PROGRAM PARTICIPANTS, INCLUDING MORE THAN $2.5 MILLION TO HELP 531 PEOPLE PURCHASE HOMES. GAHUNGU SIMON GREW UP IN A REFUGEE CAMP IN TANZANIA. FOR THE NEXT 11 YEARS, THE REFUGEE CAMP WAS HOME TO GAHUNGU, HIS MOTHER, AND SIX SIBLINGS. WHEN THEY WERE RESETTLED IN N.H., HE WAS A HIGH SCHOOL FRESHMAN WHO SPOKE AND READ NO ENGLISH. BUT HE WAS A SERIOUS STUDENT, EARNING HIGH GRADES, AND HELD AFTER-SCHOOL JOBS AT A GROCERY STORE AND A HOTEL. HE DREAMT OF BEING A HUMANITARIAN AID WORKER, LIKE THOSE IN THE CAMPS WHO PROVIDED FOOD, WATER, SHELTER, LIFE ITSELF. REACHING THAT DREAM MEANT HE'D NEED A COLLEGE DEGREE. ONE DAY A VISITOR TO THE SCHOOL TOLD HIM THAT AN IDA ACCOUNT COULD HELP PAY FOR COLLEGE IF GAHUNGU COULD SAVE $25 A MONTH AND TAKE FINANCIAL LITERACY CLASSES ONLINE. HE OPENED AN IDA, MET HIS SAVINGS GOAL, AND USED THE MATCH, ALONG WITH SCHOLARSHIPS AND OTHER AID, TO ATTEND PLYMOUTH STATE UNIVERSITY, WHERE HE GRADUATED WITH A DEGREE IN POLITICAL SCIENCE. HE PLANS TO PURSUE A MASTER'S DEGREE IN FOREIGN AFFAIRS, THEN TO BECOME A DIPLOMAT. HE WANTS TO TRAVEL AND TO MAKE A DIFFERENCE IN PEOPLE'S LIVES, THE WAY THE AID WORKERS MADE A DIFFERENCE IN HIS. 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 NEARLY ALONE AMONG COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN ACCEPTING NVESTMENTS 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. SEACOAST PHILANTHROPIST TOM HAAS HAD LONG SUPPORTED THE COMMUNITY LOAN FUND. HIS THOMAS W. HAAS FOUNDATION MAKES GIFTS TO NUMEROUS ENVIRONMENTAL AND EDUCATIONAL CAUSES, INCLUDING GIFTS OF FOOD, FUEL AND SHELTER. HE SEES THE COMMUNITY LOAN FUND AS COMPLEMENTING THOSE CRISIS SERVICES BY PROVIDING OPPORTUNITY. "ONCE PEOPLE'S EMERGENCIES ARE TAKEN CARE OF, HOW DO YOU PUT THEM ON A PATH?" HE ASKED. "THE COMMUNITY LOAN FUND HELPS PEOPLE TO HELP THEMSELVES, TO NOT ONLY STABILIZE THEIR LIVES BUT TO BECOME EMPOWERED WITHIN THEIR COMMUNITIES." TO ENSURE THAT THE COMMUNITY LOAN FUND CONTINUES TO MEET THOSE NEEDS, TOM MADE A DIFFERENT TYPE OF GIFT IN 2015. HE DONATED A MILLION DOLLARS FOR EQUITY. BECAUSE THE COMMUNITY LOAN FUND LEVERAGES EQUITY GIFTS FOUR TIMES OVER, TOM IS A CATALYST NOT ONLY FOR OTHERS WHO WANT TO INVEST IN N.H.'S COMMUNITIES, BUT ALSO FOR DONORS SEEKING THE SAME KIND OF IMPACT. INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $5 MILLION. THE PHILANTHROPY PROGRAM BROUGHT IN $9.87 MILLION FROM 121 NEW INVESTMENTS IN FY 16, PUSHING THE TOTAL NUMBER OF CURRENT INVESTORS TO 607. 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. IN FY 16, OUR BUSINESS FINANCE TEAM MADE 12 INVESTMENTS TOTALING $2.26 MILLION, CREATING OR PRESERVING 242 JOBS. TWELVE BUSINESS OWNERS PARTICIPATED IN CEO PEERLINK, A GROUP IN WHICH CEOS MEET MONTHLY TO SHARE BEST PRACTICES, PROVIDE SUPPORT AND SOLVE BUSINESS PROBLEMS. IN THE EARLY 2000S, THE MAJOR WIRELESS COMPANIES LOOKED AT HOTELS, MALLS, WORKPLACES AND CONFERENCES AND SAW MILLIONS OF CONSUMERS TO WHOM THEY COULD SELL INDIVIDUAL MOBILE DATA PLANS. BOB GOLDSTEIN AND STEVE SINGLAR SAW SOMETHING DIFFERENT: THOUSANDS OF VENUES THAT COULD ENHANCE THE CUSTOMER EXPERIENCE BY OFFERING WI-FI SERVICE AND SUPPORT. FROM THAT VISION, THEY LAUNCHED SINGLE DIGITS, A COMPANY THAT, BY 2015, CONNECTED MORE THAN 100 MILLION SUBSCRIBERS WITH THE INTERNET AT 3,000 LOCATIONS. WHEN SINGLE DIGITS ADDED SEVERAL MAJOR CLIENTS AND NEEDED GROWTH CAPITAL, A VESTED FOR GROWTH INVESTMENT ENABLED THE COMPANY TO FILL SOME KEY POSITIONS, MOVE TO LARGER QUARTERS AND WITHIN 18 MONTHS, GROW FROM 60 TO MORE THAN 100 EMPLOYEES. BY 2015, IT EMPLOYED 210. RAPID BUSINESS GROWTH RARELY HAPPENS WITHOUT GROWING PAINS, AND BOB APPRECIATES THAT "THE COMMUNITY LOAN FUND PROVIDES A UNIQUE DISPOSITION THAT IS ALWAYS POSITIVE." "WE'VE HAD FINANCIAL BLIPS ALONG THE WAY," BOB SAYS, AND THE COMMUNITY LOAN FUND'S ATTITUDE HAS BEEN, "LET'S WORK ON THESE PROBLEMS TOGETHER, DO WHAT'S BEST FOR THE BUSINESS, AND FOCUS ON GROWING PROFITS AND JOBS FOR THE LONG TERM." FORM 990, PART VI, SECTION B, LINE 11 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 COMMUNITY LOAN FUND HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANT, 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 LOANS TOTALING $115,426 TO THE COMMUNITY LOAN FUND. TWELVE EMPLOYEES HAVE PROVIDED LOANS TOTALING $388,910 TO THE COMMUNITY LOAN FUND. ALL 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.