2016-10-07T08:25:01-05:00 2015-12-31 420714325 RSM US LLP 751 ARBOR WAY SUITE 200 BLUE BELL PA 19422 990 2015-01-01 232331946 THE REINVESTMENT FUND INC REIN 2155745800 1700 MARKET STREET 19TH FLOOR PHILADELPHIA PA 19103 MICHAEL M CRIST CFO 2155745800 2016-10-07 1 CHRISTOPHER M PEKULA P00734965 2156418600 2016-10-06 2015 2017-02-10 21:41:12Z DONALD HINKLE-BROWN 1700 MARKET STREET 19TH FLOOR PHILADELPHIA PA 19103 78034306 0 X WWW.REINVESTMENT.COM X 1985 PA SEE SCHEDULE O 14 14 122 51 400180 -213151 15703978 5826691 19292986 22449107 163787 259647 2473449 64404 37634200 28599849 1614406 3402478 0 0 8782933 9126393 0 0 57500 12476017 13624622 22873356 26153493 14760844 2446356 321932876 368130238 178509817 222287759 143423059 145842479 X SEE SCHEDULE O 0 0 17173546 2978370 19318479 LENDING AND COMMUNITY INVESTING: ENCOMPASSES THE ORGANIZATION'S FINANCING OF HOMES, SCHOOLS, HEALTHY FOOD RETAIL, HEALTHCARE AND OTHER PROJECTS THAT BENEFIT LOW-WEALTH PEOPLE AND PLACES AND IS THE CORE LENDING FUNCTION OF THE ORGANIZATION. 2997641 1677861 POLICYMAP: PROVIDES AN ONLINE DATA ANALYSIS AND MAPPING TOOL THAT PROVIDES BROAD ACCESS TO DATA, REPORTS AND ANALYTICS USEFUL FOR SOCIAL INVESTMENT STRATEGIES. 1444988 1077786 POLICY SOLUTIONS: CONDUCTS POLICY, DATA ANALYSIS AND SOCIAL IMPACT ANALYSES THAT ADVANCE REINVESTMENT FUND, INC.'S MISSION AND EFFECT SYSTEM CHANGE, ON BEHALF OF REINVESTMENT FUND, INC. AS WELL AS PUBLIC AND PHILANTHROPIC CLIENTS. 460529 424108 39205 SUSTAINABLE DEVELOPMENT FUND ("SDF"): REPRESENTS AN ENERGY-RELATED FUND THAT USES LOANS, INVESTMENTS AND GRANTS TO AUGMENT THE ORGANIZATION'S EXISTING ENERGY CONSERVATION AND COMMUNITY INVESTING EFFORTS. SDF WAS CREATED BY THE PARTIES TO THE PECO ENERGY COMPANY ("PECO ENERGY") RESTRUCTURING AND APPROVED BY THE PENNSYLVANIA PUBLIC UTILITY COMMISSION ("PUC") IN MAY 1998. 460529 424108 39205 22076704 1 1 0 1 0 0 0 0 1 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 1 603 0 1 122 1 1 1 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 1 1 PA DC DE MD NJ CA VA X MICHAEL M CRIST 2155745800 1700 MARKET STREET19TH FLOOR PHILADELPHIA PA 19103 ANDREA ALLON BOARD MEMBER 2.00 X 0 0 0 SCOTT M JENKINS BOARD MEMBER / TREASURER 2.00 X X 0 0 0 ARNIE GRAF BOARD MEMBER 2.00 X 0 0 0 ROBERT E KEITH JR BOARD MEMBER / SECRETARY 2.00 X X 0 0 0 JOHN S SUMMERS CHAIRMAN OF BOARD 2.00 X X 0 0 0 JEROME SMALLEY BOARD MEMBER 2.00 X 0 0 0 TRINITA LOGUE BOARD MEMBER 2.00 X 0 0 0 MARK ZANDI VICE CHAIRMAN 2.00 X X 0 0 0 SIMRAN SIDHU BOARD MEMBER 2.00 X 0 0 0 ELIZABETH SUR BOARD MEMBER 2.00 X 0 0 0 PATRICIA WELLENBACH BOARD MEMBER 2.00 X 0 0 0 ANTHONY CREAMER BOARD MEMBER 2.00 X 0 0 0 SANDEEP WADHWA BOARD MEMBER 2.00 X 0 0 0 RAY SKINNER BOARD MEMBER 2.00 X 0 0 0 DONALD HINKLE-BROWN CORP. PRESIDENT & CEO 36.00 4.00 X 423569 0 30368 MICHAEL M CRIST EVP & CFO 36.00 4.00 X 324902 0 11340 NANCY HORTON CORP. ASSISTANT SECRETARY 40.00 X 58818 0 13291 NANCY WAGNER-HISLIP CHIEF INVESTMENT OFFICER 40.00 X 234680 0 25339 M AMANDA HIGH CHIEF OF STRATEGIC INITIAT 40.00 X 230362 0 14662 STUART HEAN SPECIAL ASSISTANT TO CEO 40.00 X 19230 0 17 IRA GOLDSTEIN PRESIDENT OF POLICY SOLUTIONS 40.00 X 218569 0 21358 MAGGIE MCCULLOUGH PRESIDENT OF POLICYMAP 40.00 X 194374 0 24986 SUZANNE ALOI CORPORATE CONTROLLER 40.00 X 185246 0 7209 PATRICIA SMITH SENIOR POLICY ADVISOR 40.00 X 164227 0 12154 BARRY POROZNI CIO 40.00 X 165576 0 12276 GERTRUDE THOMAS VP OF SALES 40.00 X 162869 0 24168 ANDREW RACHLIN MANAGING DIRECTOR, LENDING & INVESTING 40.00 X 150147 0 12292 2532569 0 209460 26 0 1 0 COHN REZNICK LLP 500 E PRATT STREET SUITE 200 BALTIMORE MD 21202 ACCOUNTING SERVICES 227985 RSM US LLP 751 ARBOR WAY STE 200 BLUE BELL PA 19422 ACCOUNTING SERVICES 201000 NIXON PEABODY LLP 437 MADISON AVENUE NEW YORK NY 10022 LEGAL 172087 MORGAN LEWIS & BOCKIUS LLP 1701 MARKET ST PHILADELPHIA PA 19103 LEGAL 161452 4 3613925 2212766 5826691 INTEREST 525990 14475345 14475345 NMTC PLACEMENT FEES 900099 2246250 2246250 ASSET MANAGEMENT FEES 561000 1564308 1564308 LOAN & LEASE FEES 525990 831943 831943 POLICYMAP REVENUES 900099 400180 400180 2931081 2931081 22449107 414029 414029 49280075 49434457 -154382 -154382 -154382 NET LOAN CHARGE-OFFS & RECOVERIES 525990 33638 33638 GAINS FROM PARTNERSHIP 525990 30766 30766 64404 28599849 22113331 400180 259647 3402478 3402478 2532569 1684895 847674 4921734 3260081 1615865 45788 235409 159948 73813 1648 874441 594026 274297 6118 562240 383049 175245 3946 198345 77133 121212 267439 267439 143256 143256 1543773 1365260 178513 197354 177377 19977 512352 354717 157635 182465 182049 416 509396 358298 151098 187526 135961 51565 445446 178984 266462 5369162 5369162 1136688 1136688 161554 117308 44246 PROVISION FOR LOAN LOSS 2446747 2446747 BANK FEES 136656 136656 LOANS RELATED EXPENSE 93933 93933 STAFF DEVELOPMENT/RECRU 72799 31736 41063 19731 19523 208 26153493 22076704 4019289 57500 41805045 37466821 9269805 828865 2742453 3218165 219696198 279215182 306600 336419 9780127 7336064 2672347 2444063 43514749 41861556 1925679 2759167 321932876 368130238 2985837 3655196 80069 917 5777858 6693770 2356880 1505475 23546300 41421230 140052562 158298628 3710311 10712543 178509817 222287759 X 49868369 58362190 44862632 37368554 48692058 50111735 143423059 145842479 321932876 368130238 2446356 -26936 0 X X 0 1 X 1 1 1 X 17490871 12135158 16422032 15703978 5826691 67578730 17490871 12135158 16422032 15703978 5826691 67578730 10849965 56728765 1218806 1372832 517481 359084 414029 3882232 -464 84575 -136737 -262553 -213151 -528330 -375666 -1240240 544982 2473449 1402525 72335157 90246076 0.78420 0.83140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 251377 251377 21825327 22076704 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 77498 100104 167495 251377 596474 250000 250000 250000 250000 1000000 1500000 0 2356880 978880 1830283 1505477 1 X 1045593 319486 726107 1216340 802804 413536 7518194 6213774 1304420 2444063 RESERVE FUNDS PAYABLE 9936240 ACCRUED LEASE INCENTIVE 776303 10712543 X PART IV, LINE 2B: ESCROW ACCOUNTS FOR LENDING ACTIVITY 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 TAX FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014. 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 TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. CONSEQUENTLY, NO ACCRUAL FOR INTEREST AND PENALTIES WAS DEEMED NECESSARY FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014. THE ORGANIZATION FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. GENERALLY, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2012. 1 CITIZENS FOR PENNSYLVANIA S FUTURE 610 N THIRD STREET HARRISBURG 17101 17101 HARRISBURG PA 17101 311607866 501(C)(3) 11615 FMV - CASH ENERGY EFFICIENCY GRANT CREATIVE LEARNING ENVIRONMENT INC 42 PENNS COURT ASTON PA 19014 272117822 15500 FMV - CASH WP HIGH QUALITY CHILD CARE DELAWARE VALLEY COLLEGE 700 EAST BUTLER AVENUE DOYLESTOWN PA 18901 231352665 501(C)(3) 16281 FMV - CASH DCED PA OPPORTUNITY INITIATIVE GREATER ATLANTIC CITY CHAMBER OF COMMERCE 12 SOUTH VIRGINIA AVENUE ATLANTIC CITY NJ 08401 210398240 501(C)(3) 20000 FMV - CASH FRESH FOOD INITIATIVE JR MARKETS INC 360 GREENTREE ROAD SEWELL NJ 080801867 455033187 23487 FMV - CASH FRESH FOOD INITIATIVE INSERRA SUPERMARKETS INC 20 RIDGE ROAD SUITE 210 MAHWAH NJ 07430 221710174 25859 FMV - CASH FRESH FOOD INITIATIVE 985 REALTY LLC 985 MARTIN LUTHER KING JR BLVD TRENTON NJ 08638 463295574 41513 FMV - CASH FRESH FOOD INITIATIVE THE SHARE FOOD PROGRAM INC 2901 W HUNTING PARK AVENUE PHILADELPHIA PA 19129 232360819 501(C)(3) 43697 FMV - CASH DCED PA OPPORTUNITY INITIATIVE TRF DEVELOPMENT PARTNERS 1700 MARKET STREET 19TH FLOOR PHILADELPHIA PA 19103 232671667 501(C)(3) 75000 FMV - CASH COMMUNITY DEVELOPMENT SAINT FRANCIS UNIVERSITY SMALL BUSINESS DEVELOPMENT CENTER LORETTO PA 15940 LORETTO PA 15940 251024358 501(C)(3) 83993 FMV - CASH ENERGY EFFICIENCY GRANT BROWNS BROOKLAWN LLC 700 DELSEA DRIVE WESTVILLE NJ 08093 08093 WESTVILLE NJ 08093 232795356 92941 FMV - CASH FRESH FOOD INITIATIVE SPECIAL PEOPLE IN NORTHEAST INC 10521 DRUMMOND ROAD PHILADELPHIA 19154 PHILADELPHIA PA 19154 231742920 501(C)(3) 119304 FMV - CASH WP HIGH QUALITY CHILD CARE CUELLAR LLC 503 PAULISON AVENUE PASSAIC NJ 07055 201072625 125000 FMV - CASH FRESH FOOD INITIATIVE KINDER ACADEMY DEVELOPMENT ORGANIZATION 7922 BUSTLETON AVENUE PHILADELPHIA PA 19152 PHILADELPHIA PA 19152 261992487 166905 FMV - CASH WP HIGH QUALITY CHILD CARE MERCY NEIGHBORHOOD MINISTRIES 1939 W VENANGO STREET PHILADELPHIA PA 19140 PHILADELPHIA PA 19140 571144097 501(C)(3) 187890 FMV - CASH WP HIGH QUALITY CHILD CARE KENCREST SERVICES 502 WEST GERMANTOWN PIKE SUITE 200 PLYMOUTH MEETING 19462 PLYMOUTH MEETING PA 19462 251439925 501(C)(3) 234379 FMV - CASH WP HIGH QUALITY CHILD CARE THE CHILDREN'S PLAYHOUSE 604 S PORTER STREET PHILADELPHIA PA 19148 PHILADELPHIA PA 19148 471890059 245721 FMV - CASH WP HIGH QUALITY CHILD CARE DIVERSIFIED COMMUNITY SERVICES - NON PROFIT CORPORATION 1529 SOUTH 22ND STREET PHILADELPHIA PA 19146 231365980 255212 FMV - CASH WP HIGH QUALITY CHILD CARE NORTHERN CALIFORNIA COMMUNITY LOAN FUND 870 MARKET STREET SUITE 677 SAN FRANCISCO 94102 SAN FRANCISCO CA 94102 943032394 501(C)(3) 285000 FMV - CASH FRESH FOOD INITIATIVE ASOCIACION PUERTORRIQUENOS EN MARCHA INC 1900 NORTH 9TH STREET SUITE 102 PHILADELPHIA PA 19122 PHILADELPHIA PA 19122 231930630 501(C)(3) 300000 FMV - CASH WP HIGH QUALITY CHILD CARE SOLARSENSE LLC 1055 WESTLAKE DRIVE SUITE 140 BERWYN 19312 BERWYN PA 19312 272050803 328500 FMV - CASH ENERGY EFFICIENCY GRANT FINANCE FUND CAPITAL CORPORATION 17 SOUTH THIRD STREET 9TH FLOOR COLUMBUS OH 43215 COLUMBUS OH 43215 743033288 501(C)(3) 334167 FMV - CASH FRESH FOOD INITIATIVE COLORADO ENTERPRISE FUND 1888 SHERMAN STREET SUITE 530 DENVER 80203 DENVER CO 80203 840837398 501(C)(3) 360000 FMV - CASH FRESH FOOD INITIATIVE 13 10 PART I, LINE 2: APPLICATIONS FOR GRANTS ARE RECEIVED AND PROCESSED BY THE APPLICABLE PROGRAM MANAGER. ONCE APPROVED, GRANT DISBURSEMENTS ARE PROCESSED BY THE FINANCE DEPARTMENT. ONGOING COMPLIANCE WITH THE GRANT TERMS ARE MONITORED AND MAINTAINED BY THE APPLICABLE PROGRAM MANAGER AND THE FINANCE DEPARTMENT. X 0 1 X X X X X 0 0 0 0 0 0 0 0 0 DONALD HINKLE-BROWN CORP. 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FORM 990, PART I, LINE 1 THE REINVESTMENT FUND, INC. BUILDS WEALTH AND OPPORTUNITY FOR LOW-WEALTH PEOPLE AND PLACES THROUGH THE PROMOTION OF SOCIALLY AND ENVIRONMENTALLY RESPONSIBLE DEVELOPMENT. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE REINVESTMENT FUND, INC. BUILDS WEALTH AND OPPORTUNITY FOR LOW-WEALTH PEOPLE AND PLACES THROUGH THE PROMOTION OF SOCIALLY AND ENVIRONMENTALLY RESPONSIBLE DEVELOPMENT. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION HAS ENGAGED OUR INDEPENDENT ACCOUNTANTS RSM US LLP. TO PREPARE FORM 990 IN ACCORDANCE WITH OUR AUDITED FINANCIAL STATEMENTS. THE FORM 990 IS THEN REVIEWED BY MANAGEMENT, THE REINVESTMENT FUND, INC.'S AUDIT AND RISK COMMITTEE (WHICH IS A SUB-COMMITTEE OF THE FULL BOARD WITH FISCAL AND FIDUCIARY OVERSIGHT) AND IS MADE AVAILABLE TO THE FULL GOVERNING BODY, PRIOR TO THE SUBMISSION OF THE 990. FORM 990, PART VI, SECTION B, LINE 12C COMPREHENSIVE CONFLICT OF INTEREST QUESTIONNAIRE IS DISTRIBUTED ANNUALLY TO ALL BOARD AND COMMITTEE MEMBERS. UPON RECEIPT OF THE QUESTIONNAIRE, ALL BOARD, COMMITTEE MEMBERS AND STAFF HAVE 60 DAYS TO RETURN THE COMPLETED QUESTIONNAIRE TO THE ORGANIZATION'S HUMAN RESOURCE DEPARTMENT. THE COMPLETED QUESTIONNAIRES ARE REVIEWED AND MONITORED BY THE HUMAN RESOURCE DEPARTMENT AND ANY POTENTIAL CONFLICTS ARE COMMUNICATED TO THE ORGANIZATION'S MANAGEMENT AND BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION OF THE ORGANIZATION'S CEO THROUGH A VARIETY OF SOURCES, INCLUDING COMPETITOR DATA AND SURVEYS. ADDITIONALLY, THE ORGANIZATION HAS ENGAGED THE SERVICES OF AN INDEPENDENT CONSULTANT TO PROVIDE AN OPINION ON THE REASONABLENESS OF THE COMPENSATION PLAN FOR THE CEO, THREE TOP MANAGEMENT OFFICIALS AND TWO BUSINESS UNIT PRESIDENTS USING COMPARATIVE DATA AND SURVEY DATA. THE OPINION LETTER FOR THE CEO, THREE TOP MANAGEMENT OFFICIALS AND TWO BUSINESS UNIT PRESIDENT'S COMPENSATION IS SENT DIRECTLY TO THE CHAIRMAN OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENT, FORM(S) 1023, 990 & 990T AND FINANCIAL STATEMENT AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST THROUGH ITS OFFICES AT 1700 MARKET STREET, 19TH FLOOR, PHILADELPHIA, PA 19103. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR PERIOD. FORM 990, PART IV, LINE 26: THE ORGANIZATION OFFERS PROMISSORY NOTES TO THE GENERAL PUBLIC THROUGH A PROSPECTUS OFFERING REGISTERED WITH THE PENNSYLVANIA DEPARTMENT OF BANKING AND SECURITIES. THE TERMS AND CONDITIONS OF THE PROMISSORY NOTES ARE SET BY THE PROSPECTUS AND ARE THE SAME FOR EVERYONE. THE PROSPECTUS IS AVAILABLE TO THE GENERAL PUBLIC, INCLUDING BOARD MEMBERS, OFFICERS AND EMPLOYEES OF THE ORGANIZATION. AT YEAR END, VOTING BOARD MEMBERS AND OFFICERS OF THE ORGANIZATION HAD LOANS OUTSTANDING UNDER THE PROSPECTUS. BASED ON GUIDANCE, PROVIDED FROM THE IRS, REGARDING DEBT OFFERED ON THE SAME TERMS AS OFFERED TO THE GENERAL PUBLIC, WE HAVE ANSWERED THIS QUESTION AS "NO AND DID NOT COMPLETE SCHEDULE L. AS PART OF OUR PROMISSORY NOTE PROGRAM, OUR DIRECTORS, OFFICERS, TRUSTEE, ETC MAKE UP $289,176 OF OUR PROMISSORY NOTE PROGRAM OF $16,853,573. FORM 990, PART VII, SECTION B: OF THE AMOUNT REPORTED AS PAID TO COHN REZNICK, LLP OF $227,985, $176,380 HAS BEEN/WILL BE SUBSEQUENTLY REIMBURSED TO THE REINVESTMENT FUND, INC. OF THE AMOUNT REPORTED AS PAID TO NIXON PEABODY, LLP OF $172,087, $168,677 HAS BEEN/WILL BE SUBSEQUENTLY REIMBURSED TO THE REINVESTMENT FUND, INC. 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