2015-08-13T16:08:43-05:00 2014-12-31 541487262 MATTHEWS CARTER & BOYCE 11320 RANDOM HILLS ROAD SUITE 600 FAIRFAX VA 22030 990 2014-01-01 522063496 CHARTER SCHOOLS DEVELOPMENT CORPORATION CHAR 4435611280 6731 COLUMBIA GATEWAY DRIVE NO 220 COLUMBIA MD 21046 MICHELLE LIBERATI EXECUTIVE VICE PRESIDENT 4435611280 2015-08-13 1 KATHLEEN M FLAHERTY P00969957 7032183600 2014 2016-02-25 16:41:14Z AL DUBIN 6731 COLUMBIA GATEWAY DRIVE NO 220 COLUMBIA MD 21046 4628114 0 X WWW.CSDC.ORG X 1997 DC FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS. 6 6 9 0 0 0 416000 220159 860441 4363438 720981 44517 0 0 1997422 4628114 0 0 0 0 279337 1298917 0 0 0 1181716 4009161 1461053 5308078 536369 -679964 74455177 75390040 41467318 43082142 32987859 32307898 CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS. 0 0 3837993 3491858 PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS. 3837993 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 28 0 9 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 0 0 MD X THE ORGANIZATION 4435611280 6731 COLUMBIA GATEWAY DRIVE NO 220 COLUMBIA MD 21046 TOM NIDA CHAIRMAN/TREASURER 1.00 X X 2650 0 0 EMBER REICHGOTT JUNGE VICE CHAIRMAN/SECRETARY 1.00 X X 2983 0 0 JIM GOENNER DIRECTOR 1.00 X 2015 0 0 JAY HROMATKA DIRECTOR 1.00 X 1550 0 0 GREG MCKENNA DIRECTOR 1.00 X 1400 0 0 MICHAEL CURRAN DIRECTOR 1.00 X 850 0 0 MARK ZEIZEL ANALYST 40.00 X 117667 0 8584 MICHELLE LIBERATI EXEC. VICE PRES/ ASST SEC' 40.00 X 194667 0 17895 REBECCA SECREST VICE PRESIDENT 40.00 X 137600 0 19287 AL DUBIN PRESIDENT/CEO 40.00 X 296250 0 0 LAURA FIEMANN VICE PRESIDENT 40.00 X 215875 0 21970 973507 0 67736 5 0 1 0 TENSQUARE LLC 818 CONNECTICUT AVE NW STE 1009 WASHINGTON DC 20006 PROJECT MANAGEMENT 119850 1 20159 200000 220159 RENTAL INCOME 900099 2817237 2817237 INTEREST INCOME - CDFI 900099 950953 950953 DEVELOPER'S FEES 900099 467795 467795 CREDIT ENHANCEMENT FEE 900099 60587 60587 RECOVERED ENHANCEMENTS 900099 33038 33038 33828 33828 4363438 -34856 -34856 79373 0 79373 79373 79373 4628114 4442811 0 -34856 12000 12000 1063976 372392 691584 161036 56363 104673 61905 21667 40238 130950 104760 26190 212371 169897 42474 318705 111547 207158 9548 3342 6206 138969 55207 83762 262575 204186 58389 143005 106938 36067 15428 5400 10028 1673160 1673160 600383 594379 6004 195078 68277 126801 LOSS-SURREND. ENHANCE. 225000 225000 PROPERTY MANAGEMENT FEE 41097 41097 OTHER FEES 22630 14555 8075 MISCELLANEOUS 20262 9826 10436 5308078 3837993 1470085 0 24753999 22228152 13384206 13018074 283673 254678 12516409 10353972 28795 28795 27737036 3039406 20879846 24697630 255815 211756 2352434 4596983 74455177 75390040 587618 256577 148007 152604 38113457 40298038 2056477 2109915 561759 265008 41467318 43082142 X -1675840 3472589 34663699 28835309 32987859 32307898 74455177 75390040 X -679964 3 X 0 1 X 1 1 1 X 216525 607797 5000 220159 1049481 216525 607797 5000 220159 1049481 918193 131288 303236 201531 118279 24051 -34856 612241 208961 182134 1999 393094 2054816 22339922 0.06390 0.49350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2549600 2549600 25012830 3039406 21973424 174606 174606 24697630 INTERCOMPANY RECEIVABLES 3670512 ENHANCEMENT RECOVERIES RECEIVABLE 273436 ACCRUED INTEREST RECEIVABLE 15801 DEPOSITS 8256 PRE-DEVELOPMENT COSTS 71880 PROJECT MANAGEMENT FEES RECEIVABLE 557098 4596983 SECURITY DEPOSITS HELD 265008 265008 X PART X, LINE 2: FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10 REQUIRES CHANGES IN RECOGNITION AND MEASUREMENT FOR UNCERTAIN TAX POSITIONS. THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY TAX POSITIONS THAT IS CONSIDERS TO BE UNCERTAIN. IF THIS POSITION CHANGES, THE CORPORATION WILL ASSESS THE IMPACT OF ANY SUCH MATTERS ON ITS FINANCIAL POSITION AND RESULTS OF OPERATIONS. 1 X X 0 0 0 0 0 0 0 0 0 MICHELLE LIBERATI EXEC. VICE PRES/ ASST SEC' 143000 0 51667 0 0 0 0 0 17895 0 212562 0 0 0 REBECCA SECREST VICE PRESIDENT 110000 0 27600 0 0 0 0 0 19287 0 156887 0 0 0 AL DUBIN PRESIDENT/CEO 250000 0 46250 0 0 0 0 0 0 0 296250 0 0 0 LAURA FIEMANN VICE PRESIDENT 175000 0 40875 0 0 0 0 0 21970 0 237845 0 0 0 A CITY OF FALCON HEIGHTS MINNESOTA 416007644 2013-09-30 3109000 ACQUISITION, IMPROVEMENT AND RENOVATION OF CHARTER SCHOOL FACILITIES 0 0 0 B CITY OF FALCON HEIGHTS MINNESOTA 416007644 2013-09-30 4550000 ACQUISITION, IMPROVEMENT AND RENOVATION OF CHARTER SCHOOL FACILITIES 0 0 0 A 3109000 0 0 0 1 B 4550000 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 1 0 0 0 0 B 0 1 0 0 1 0 0 0 0 A 0 B 0 TENSQUARE LLC FORMER EMPLOYEE HAS AN OWNERSHIP INTEREST 119850 ENTITY PROVIDES DEVELOPMENT CONSULTING ON SOME OF OUR DEVELOPMENT PROJECTS. 0 FORM 990, PART VI, SECTION B, LINE 11 THE PRESIDENT/CEO AND THE EXECUTIVE VICE PRESIDENT BOTH REVIEW AND APPROVE THE FORM 990 BEFORE IT IS FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY FOR STAFF, OFFICERS AND BOARD OF DIRECTORS ARE SET FORTH IN ITS BYLAWS AND EMPLOYEE HANDBOOK. STAFF, OFFICERS AND BOARD OF DIRECTORS ARE REQUIRED TO REPORT ANY CONFLICT OF INTEREST. THE EXECUTIVE VICE PRESIDENT MAINTAINS A FILE OF ALL SUCH WRITTEN REPORTS. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE PRESIDENT/CEO, OTHER MANAGEMENT PERSONNEL AND KEY EMPLOYEES INCLUDES AN ANALYSIS OF COMPARABLE DATA FOR SIMILAR SIZED NON-PROFIT ORGANIZATIONS WORKING IN THE SAME GENERAL FIELD OBTAINED VIA A SALARY SURVEY OF WASHINGTON, D.C. BASED NONPROFITS AND A PUBLIC RECORDS SEARCH OF FORM 990S. COMPENSATION OF EXECUTIVE STAFF IS DETERMINED BASED ON THIS COMPARABLE DATA, PREVIOUS LEVEL OF APPLICABLE WORK EXPERIENCE AND ANNUAL PERFORMANCE REVIEWS. ONLY THE PRESIDENT AND CEO'S COMPENSATION IS SUBJECT TO BOARD APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 AT ITS OFFICES, THE ORGANIZATION KEEPS COPIES OF ITS GOVERNING DOCUMENTS AND FORMS 990 AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: ROUNDING 3. FORM 990, SCHEDULE K, PART III, LINE 9 THE ORGANIZATION ADOPTED WRITTEN PROCEDURES TO ENSURE THAT ALL NON-QUALIFIED USE OF THE BONDS OF THE ISSUE ARE REMEDIATED IN ACCORDANCE WITH THE REQUIREMENTS UNDER REGULATIONS SECTIONS 1.141-12 AND 1.145-2. HOWEVER, THESE WRITTEN PROCEDURES WERE NOT ADOPTED UNTIL AFTER DECEMBER 31, 2014 BUT PRIOR TO FILING THIS FORM 990. FORM 990, SCHEDULE K, PART V THE ORGANIZATION ADOPTED WRITTEN PROCEDURES TO ENSURE THAT VIOLATIONS OF FEDERAL TAX REQUIREMENTS ARE TIMELY IDENTIFIED AND CORRECTED THROUGH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE UNDER APPLICABLE REGULATIONS. HOWEVER, THESE WRITTEN PROCEDURES WERE NOT ADOPTED UNTIL AFTER DECEMBER 31, 2014 BUT PRIOR TO FILING THIS FORM 990. CHARTER FS LLC 25600 WOODWARD AVENUE SUITE 106 ROYAL OAK MI 48067 680617628 REAL ESTATE AND LOAN FINANCING MI 0 0 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC NEW MARKETS FUND 2 LLC 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 205622074 REAL ESTATE AND LOAN FINANCING DE 0 0 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC PROPERTY HOLDINGS LLC 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 800440584 REAL ESTATE AND LOAN FINANCING DE 0 0 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC DISCOVERY LLC 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 800511216 REAL ESTATE AND LOAN FINANCING DE 235122 2336443 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC PARAMOUNT LLC 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 800511205 REAL ESTATE AND LOAN FINANCING DE 0 1000 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC PIEDMONT LLC 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 800511223 REAL ESTATE AND LOAN FINANCING DE 0 0 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC ADAMS LLC 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 800574054 REAL ESTATE AND LOAN FINANCING DE 0 0 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC FACILITIES CORPORATION 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 300142162 SUPPORTING ORGANIZATION DC 501(C)(3) 509(A)(3) CHARTER SCHOOLS DEVELOPMENT CORPORATION 0 CSDC PROPERTY CORPORATION 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 272503955 FOSTER THE COMMON GOOD AND GENERAL WELFARE OF THE AMERICAN PUBLIC DE 501(C)(4) CHARTER SCHOOLS DEVELOPMENT CORPORATION 0 CSDC NEW MARKETS FUND LLC 6731 COLUMBIA GATEWAY DRIVE SUITE 2 COLUMBIA MD 21046 141914473 INVESTMENTS/ REAL ESTATE DE CHARTER SCHOOLS DEVELOPMENT CORPORATION RELATED -26697 27873 0 0 0.51000 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 CSDC PROPERTY CORP C 143129 CASH