2015-08-11T19:54:20-05:00 2014-12-31 420714325 MCGLADREY LLP 751 ARBOR WAY SUITE 200 BLUE BELL PA 19422 990 2014-01-01 205189202 OPPORTUNITY FINANCE NETWORK OPPO 2159234754 620 CHESTNUT STREET NO 572 PHILADELPHIA PA 19106 FRANCIS A LUTZ CHIEF FINANCIAL OFFICER 2159234754 2015-08-11 1 CHRISTOPHER M PEKULA P00734965 2156418600 2014 2016-02-25 16:41:14Z MARK PINSKY 620 CHESTNUT STREET NO 572 PHILADELPHIA PA 19106 18641290 0 X WWW.OFN.ORG X 2006 PA SEE SCHEDULE O 14 13 57 14 0 0 4118593 10135013 5413685 5877795 308711 265030 740138 1021810 10581127 17299648 1776966 1161513 0 0 4680826 5132524 0 0 414345 5433738 5575762 11891530 11869799 -1310403 5429849 112053566 125261510 64057649 71866425 47995917 53395085 X SEE SCHEDULE O 1 0 3766372 899999 4979412 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. 2165328 50000 720942 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. 1620924 150000 1116837 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 SUPPORTING GOVERNMENT STRATEGIES TO EXPAND CDFI COVERAGE GEOGRAPHICALLY AND DEMOGRAPHICALLY. 980713 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. 256730 61514 82414 STRATEGIC INITIATIVES: STRATEGIC INITIATIVES INCLUDES OFN'S CROSS-FUNCTIONAL HIGH IMPACT INITIATIVES THAT BENEFIT THE CDFI INDUSTRY WITH CAPITAL AND OTHER RESOURCES. IN 2013 AND 2012, THIS INCLUDES THE NEXT AWARDS, PERFORMANCE COUNTS (AN INDUSTRY-LED FINANCIAL REPORTING BEST PRACTICES INITIATIVE), INDUSTRY-WIDE TALENT DEVELOPMENT INITIATIVES, AND THE CREATE JOBS FOR USA FUND. 894271 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. 871775 CARS - THE CDFI ASSESSMENT AND RATINGS SYSTEM IS THE ONLY RATINGS SYSTEM TO PROVIDE A COMPREHENSIVE, THIRD-PARTY ASSESSMENT OF BOTH A CDFI'S IMPACT PERFORMANCE AND FINANCIAL STRENGTH AND PERFORMANCE. CARS(TM) OPERATED AS A DISTINCT INDEPENDENT PROGRAM WITHIN OFN FROM 2004-2011. AS OF JANUARY 2012, THE CDFI ASSESSMENT AND RATINGS SYSTEMS, INC. (CARS, INC.) BECAME A SEPARATE INDEPENDENT LEGAL ENTITY. CARS, INC. APPLIED FOR AND ULTIMATELY RECEIVED EXEMPTION FROM INCOME TAXES UNDER IRC SECTION 501(C)(3). DURING THE INTERIM IN WHICH CARS, INC. WAS AWAITING TAX EXEMPT STATUS, CARS, INC. ENTERED INTO A FISCAL AGENCY AGREEMENT WITH OFN UNDER WHICH OFN ACTED AS AGENT TO RECEIVE AND PASS-THROUGH CERTAIN GRANTS TO CARS, INC. IN ORDER TO MEET THE REQUIREMENTS OF THE GRANTORS. THIS FISCAL AGENCY AGREEMENT WAS TERMINATED UPON FINAL IRS CONFIRMATION OF TAX EXEMPT STATUS IN JULY 2013. 3003489 61514 82414 10556113 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 0 0 0 1 47 0 1 57 1 0 0 0 0 0 0 0 0 0 0 X 14 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 X LAURIE CURRAN 2153204317 620 CHESTNUT STREET PHILADELPHIA PA 19106 DONALD BOWEN BOARD MEMBER 2.00 X 0 0 0 LORI CHATMAN BOARD MEMBER 2.00 X 0 0 0 TRINITA LOGUE CHAIR OF THE BOARD 2.00 X X 0 0 0 JULIA NELMARK BOARD MEMBER 2.00 X 0 0 0 MARK PINSKY PRESIDENT & CEO 40.00 X X 308006 0 21739 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 GUSTAVO LASALA TREASURER 2.00 X 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 CATHERINE DOLAN CHIEF OPERATING OFFICER 40.00 X 207673 0 16727 FRANCIS LUTZ CHIEF FINANCIAL OFFICER 40.00 X 189975 0 17799 PAMELA PORTER EVP, STRATEGIC CONSULTING 40.00 X 179493 0 8983 ROBIN ODLAND EVP, FINANCIAL SERVICES 40.00 X 124152 0 18829 LINA PAGE EVP, STRATEGIC COMMUNICATIONS 40.00 X 152025 0 16852 DONNA FABIANI EVP, KNOWLEDGE SHARING 40.00 X 149010 0 12170 KISCHA MILLER EVP, DEVELOPMENT 40.00 X 122959 0 6512 1433293 0 119611 8 0 1 0 0 349525 6347000 3438488 10135013 INTEREST ON LOANS 525990 3405597 3405597 TECHNICAL SERVICES 900099 1799063 1799063 TRAINING EVENTS 900099 673135 673135 5877795 255502 255502 1351170 1341642 9528 9528 9528 ADMINSTRATIVE / EMPLOYEE LEASING 900099 871775 871775 CLOSING FEE INCOME 900099 150035 150035 1021810 17299648 6899605 0 265030 1161513 1161513 774858 431878 310723 32257 3654312 2936649 488668 228995 26736 24324 1058 1354 338240 290217 28027 19996 338378 281751 39005 17622 50389 43410 4807 2172 58700 46684 8277 3739 970683 954063 10676 5944 153914 145946 7968 214268 176630 30200 7438 220583 175469 31075 14039 366986 293029 50940 23017 408607 365717 18407 24483 1044317 1038408 185 5724 1023018 1023018 70884 56374 9995 4515 46389 36893 6541 2955 PROVISION FOR LOAN LOSS 357422 357422 STAFF DEVELOPMENT 204675 162778 41897 RECRUITING 138713 137588 1125 TECHNOLOGY PROJECTS 85760 85744 16 160454 330608 -190249 20095 11869799 10556113 899341 414345 500 500 16283882 18916892 7052399 3325853 469088 315837 83540032 98228479 50712 81302 804490 640645 153537 163845 4094904 4067820 407679 159143 833 1839 112053566 125261510 546960 781425 60689 0 60450000 68085000 3000000 3000000 64057649 71866425 X 28107399 32475540 19888518 20919545 47995917 53395085 112053566 125261510 5429849 -30681 0 X X 0 1 X 1 1 1 X 3349619 35138455 12391470 4118593 10135013 65133150 4077797 5298759 5990912 5413685 5877795 26658948 7427416 40437214 18382382 9532278 16012808 91792098 2929948 27779354 7089028 3572721 8663002 50034053 0 2929948 27779354 7089028 3572721 8663002 50034053 41758045 509283 319395 290152 291485 255502 1665817 509283 319395 290152 291485 255502 1665817 758658 740138 1021810 2520606 7936699 40756609 19431192 10563901 17290120 95978521 0.43510 0.46310 0.01740 0.02330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 1 49036 0 0 1 49036 0 0 98072 0 804490 640645 163845 163845 WELLS FARGO EQUITY EQUIVALENT INVESTMENT 3000000 3000000 X 17333967 -30681 65000 34319 17299648 0 17299648 11934799 65000 65000 11869799 0 11869799 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, 2014 AND 2013, 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, 2014 AND 2013. 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 2011. 1 AERIS INSIGHT INC 1227 N 4TH STREET PHILADELPHIA PA 19122 454135784 501C3 200000 FMV - CASH OPERATING SUPPORT IMPACT SEVEN INC 147 LAKE ALMENA DRIVE ALMENA WI 54805 391141037 501C3 100000 FMV - CASH NEXT AWARDS FLORIDA COMMUNITY LOAN FUND 501 N MAGNOLIA AVE SUITE 100 ORLANDO FL 328011364 650545058 501C3 363636 FMV - CASH NEXT AWARDS OPPORTUNITY FUND 111 WEST ST JOHN STREET-SUITE 800 SAN JOSE CA 95113 311719434 501C3 25000 FMV - CASH SM BUS LEADER AWARD MISSION DRIVEN LENDERS COMMUNITY LOAN FUND OF NJ 108 CHURCH STREET 3RD FLOOR NEW BRUNSWICK NJ 08901 222872262 501C3 204545 FMV - CASH NEXT AWARDS RURAL COMMUNITY ASSISTANCE CORP 3120 FREEBOARD DRIVE SUITE 201 WEST SACRAMENTO CA 95691 942512284 501C3 181818 FMV - CASH NEXT AWARDS NYBDC LOCAL DEV 50 BEAVER STREET SUITE 500 ALBANY NY 12207 264032355 501C3 75000 FMV - CASH SM BUS LEADER AWARD MISSION DRIVEN LENDERS COMMUNITY ASSETS FOR PEOPLE LLC 5499 HIGHWAY 10 EAST SUITE A STEVENS POINT WI 54482 391080897 501C3 11514 FMV - CASH CREATE JOBS FOR USA FUND 8 0 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 308006 0 0 0 0 0 2625 0 19114 0 329745 0 0 0 CATHERINE DOLAN CHIEF OPERATING OFFICER 207673 0 0 0 0 0 2625 0 14102 0 224400 0 0 0 FRANCIS LUTZ CHIEF FINANCIAL OFFICER 189975 0 0 0 0 0 969 0 16830 0 207774 0 0 0 PAMELA PORTER EVP, STRATEGIC CONSULTING 179493 0 0 0 0 0 2625 0 6358 0 188476 0 0 0 LINA PAGE EVP, STRATEGIC COMMUNICATIONS 152025 0 0 0 0 0 2625 0 14227 0 168877 0 0 0 DONNA FABIANI EVP, KNOWLEDGE SHARING 149010 0 0 0 0 0 1601 0 10569 0 161180 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 LEADERSHIP NETWORK OF MORE THAN 250 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 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 LEADERSHIP NETWORK OF MORE THAN 250 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, 2014, 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 TWO VOTES 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 TWO VOTES 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 TWO VOTES 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, 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. 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. THE ORGANIZATION REGULARLY PURCHASES INDEPENDENT EXTERNAL COMPENSATION REPORTS / STUDIES. 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. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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 183751 159961 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 MORTGAGE NETWORK 620 CHESTNUT STREET SUITE 572 PHILADELPHIA PA 19106 208920619 INACTIVE PA 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