2016-06-14T12:27:54-05:00 2015-12-31 510293511 ROWLAND JOHNSON & COMPANY PA 15 READS WAY SUITE 200 NEW CASTLE DE 19720 990 2015-01-01 510345258 FIRST STATE COMMUNITY LOAN FUND FIRS 3026526774 100 WEST 10TH STREET SUITE 1005 WILMINGTON DE 19801 VANDELL HAMPTON JR EXECUTIVE DIRECTOR 3026526774 2016-06-09 1 DEBORAH HORN P00148657 3023240780 2016-06-09 2015 2016-09-27 15:27:22Z VANDELL HAMPTON JR 100 W 10TH STREET WILMINGTON DE 19801 1086328 0 X WWW.FIRSTSTATELOAN.ORG X 1992 DE TO PROVIDE CREATIVE OPPORTUNITIES FOR ACCESS TO CAPITAL FOR SMALL BUSINESSES, COMMUNITY ORGANIZATIONS, AND DEVELOPERS OF AFFORDABLE HOUSING. 13 13 12 34 0 0 833356 327162 442133 752344 3335 2354 -15105 4468 1263719 1086328 0 0 0 0 571018 701007 0 0 35032 423803 526941 994821 1227948 268898 -141620 7481886 7949638 4587948 5192473 2893938 2757165 X FIRST STATE COMMUNITY LOAN FUND'S MISSION IS TO EDUCATE, EMPOWER, AND ELEVATE BUSINESS OWNERS, AND ENTREPRENEURS, BY AUGMENTING TECHNICAL EXPERTISE, INCREASING ACCESS TO CAPITAL AND STIMULATING BUSINESS GROWTH THROUGHOUT DELAWARE AND SOUTHEASTERN PENNSYLVANIA." 0 0 1007138 752694 THE MISSION OF FIRST STATE CLF IS TO EDUCATE, EMPOWER, AND ELEVATE BUSINESS OWNERS, AND ENTREPRENEURS, BY AUGMENTING TECHNICAL EXPERTISE, INCREASING ACCESS TO CAPITAL AND STIMULATING BUSINESS GROWTH THROUGHOUT DELAWARE AND SOUTHEASTERN PENNSYLVANIA. THE LENDING HIGHLIGHTS FOR 2015 ARE: MICRO LOAN FUND - $759,500, BUSINESS GROWTH FUND - $1,705,000, COMMUNITY DEVELOPMENT LOAN FUND - $636,000.SMALL BUSINESS LOANS - ONE OF FSCLF'S PRIMARY OBJECTIVES IS PROVIDING FINANCING AND SUPPORT SERVICES FOR SMALL BUSINESS ENTERPRISES. THROUGH THIS PROGRAM, FSCLF CREATES JOBS AND BUILDS WEALTH IN EMERGING MARKETS THROUGHOUT THE STATE OF DELAWARE. FSCLF HAS TWO PRIMARY SMALL BUSINESS LENDING PROGRAMS TO THE MICRO LOAN FUND AND THE BUSINESS GROWTH FUND.THE COMMUNITY DEVELOPMENT LOAN FUND FOCUSES ON PROVIDING CAPITAL FOR COMMUNITY-BASED PROJECTS, SUCH AS MIXED-USE PROPERTIES (RESIDENTIAL & RETAIL), NOT-FOR-PROFIT ORGANIZATIONS OTHER THAN HOUSING DEVELOPERS, CHILDCARE CENTERS AND OTHER COMMUNITY FACILITIES. THIS FUND PROVIDES UP TO $500,000 PER OBLIGOR, WITH MAXIMUM TERM FIVE-YEARS. THE OBJECTIVE OF OUR COMMUNITY DEVELOPMENT LOAN PROGRAM IS TO ADDRESS ALL OTHER LENDING THAT DOES NOT FALL SPECIFICALLY WITHIN THE PARAMETERS OF OUR AFFORDABLE HOUSING OR SMALL BUSINESS LENDING PRODUCTS. THROUGH OUR COMMUNITY DEVELOPMENT LENDING PRODUCT, WE ARE EMPOWERED TO BRING SOME BENEFIT TO A PARTICULAR COMMUNITY IN THE FORM OF, FOR EXAMPLE, A NEW CHILD CARE CENTER, A HEALTH CARE PROVIDER, OR BY ASSISTING WITH THE PURCHASE OR REHABILITATION OF OFFICE SPACE FOR A NON-PROFIT ORGANIZATION. OTHERS 1007138 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 1 111 0 0 12 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 1 0 DE X VANDELL HAMPTON 3026526774 100 WEST 10TH STREET SUITE 1005 WILMINGTON DE 19801 JAMES JARRELL CHAIRMAN 2.00 X X 0 0 0 JONATHAN KLASS BOARD MEMBER 1.00 X 0 0 0 MARGO J REIGN TREASURER 2.00 X X 0 0 0 TERRENCE D BARCLIFT SECRETARY 2.00 X X 0 0 0 CARRIE W GRAY VICE CHAIRWOMAN 1.00 X X 0 0 0 RICHARD E CAMPBELL BOARD MEMBER 1.00 X 0 0 0 BARBARA WILLIS BOARD MEMBER 1.00 X 0 0 0 MARC PELLETIER BOARD MEMBER 1.00 X 0 0 0 THOMAS E HANSON JR ESQ BOARD MEMBER 1.00 X 0 0 0 JOHN M BONHOMME BOARD MEMBER 1.00 X 0 0 0 DR BRECK L ROBINSON BOARD MEMBER 1.00 X 0 0 0 ANNE JOHNSON BOARD MEMBER 1.00 X 0 0 0 LOTTIE LEE BOARD MEMBER 1.00 X 0 0 0 VANDELL HAMPTON EXECUTIVE DIRECTOR 37.50 X 110892 0 11356 110892 0 11356 1 0 0 0 0 327162 327162 INTEREST ON LOANS 359282 359282 CONTRACTUAL INCOME 296959 296959 LOAN FEES 95950 95950 RECOVERY INCOME 153 153 752344 2354 2354 EQUITY IN EARNINGS 4118 4118 MISCELLANEOUS 350 350 4468 1086328 752694 0 6472 110892 46575 47684 16633 492292 429126 62369 797 53085 29641 23444 44738 35775 7658 1305 15622 14955 667 40685 25820 14865 67053 63450 3543 60 11187 9253 1890 44 23125 15490 7635 31515 30589 915 11 21383 11071 227 10085 104617 104617 5591 4648 761 182 5794 3919 1662 213 PROVISION FOR LOAN LOSS 75958 75958 LOAN FEES 48974 48974 COMPUTER AND SOFTWARE E 18935 17309 1626 TELEPHONE 13621 8459 5144 18 42881 31509 5688 5684 1227948 1007138 185778 35032 2612203 2565403 133 21006 6214 150 4489842 4983371 16560 13953 46440 40341 8956 6099 346551 358229 1427 1427 7481886 7949638 6766 10027 4535054 5154389 46128 28057 4587948 5192473 X 2354689 2185700 539249 571465 2893938 2757165 7481886 7949638 -141620 4847 0 X X 0 1 X 1 1 1 X 511781 377614 494207 833356 327162 2544120 511781 377614 494207 833356 327162 2544120 843222 1700898 10360 -2985 -11180 -13433 6472 -10766 6285 202 345 1663 350 8845 2542199 2350435 0.66910 0.42520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39263 36900 2363 7177 3441 3736 6099 COMPENSATED ABSENCES 28057 28057 X 1091175 4847 4847 1086328 0 1086328 1227948 0 1227948 0 1227948 PART X, LINE 2: N/A PRESIDENT'S SON CONTRACTOR SON OF PRESIDENT SCOTT HAMPTON (PRESIDENT'S SON) WAS HIRED TO DO VIDEOGRAPHY/AUDIO EDITING. THE AMOUNT TOTALED $300. 0 X DREAMBUILDER 0 3000 X AUDIT FEES 0 1720 X WBC EVENT 0 127 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE AUDITORS MEET WITH THE BOARD PRIOR TO THE COMPLETION OF THE ANNUAL AUDIT AND EXPLAIN BOTH THE AUDIT PROCESS, AS WELL AS, THE 990 PROCESS. THE 990 WOULD HAVE BEEN FILED PRIOR TO THIS MEETING. FORM 990, PART VI, SECTION B, LINE 12C FIRST STATE CLF HAS ALL DIRECTORS, OFFICERS AND EMPLOYEES SIGN A CONFLICT OF INTEREST FORM EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT RECOMMENDS SALARY FOR THE ENTIRE STAFF TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS DETERMINES SALARY FOR THE PRESIDENT. THE BOARD APPROVES AN ANNUAL BUDGET, WHICH INCLUDES SALARIES FOR ALL EMPLOYEES. A COMPENSATION STUDY WAS DEVELOPED BY THE BOARD OF DIRECTORS FOR DETERMINING THE PRESIDENT'S SALARY. THE ORGANIZATION ALSO HAS ACCESS TO A COMPENSATION STUDY THAT WAS PUBLISHED IN 2014 BY OPPORTUNITY FINANCE NETWORK (OFN). THE OFN STUDY ANALYZED CDFI INDUSTRY COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST. FORM 990, PART XII, LINE 2C DRAFTS OF AUDITED FINANCIALS ARE REVIEWED BY MANAGEMENT AND EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE DETERMINES SELECTION OF INDEPENDENT ACCOUNTANT. FSCLF HOLDING LLC 100 W 10TH STREET SUITE 1005 WILMINGTON DE 19801 453833176 REAL ESTATE MANAGEMENT DE 4118 282743 0 0 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0