2014-11-13T07:13:11-06:00 2014-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2013-07-01 222524015 NEW HAMPSHIRE COMMUNITY LOAN FUND INC NEWH 6032246669 7 WALL STREET CONCORD NH 03301 JULIANA EADES PRESIDENT 6032246669 2014-11-03 1 THOMAS WASHBURN CPA P00537319 5083669100 2014-10-20 2013 2015-11-30 17:44:51Z JULIANA EADES 7 WALL STREET CONCORD NH 03301 9545921 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, 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. 15 14 60 33 0 0 4680786 3086673 5185291 5971820 71473 65144 508866 43155 10446416 9166792 2119978 864959 0 0 3918190 4520666 0 0 235198 3475942 3900783 9514110 9286408 932306 -119616 87926503 96742290 67575165 76230891 20351338 20511399 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 4267416 801542 5184827 AFFORDABLE HOUSING - SEE SCHEDULE O 2911403 0 0 CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O 927147 35038 459690 ECONOMIC OPPORTUNITY - SEE SCHEDULE O 185377 28379 329550 IN FY 14, THE COMMUNITY LOAN FUND MADE ONE COMMUNITY FACILITIES LOAN TOTALING $303,000, SERVING 57 CHILDREN, 19 STAFF AND THE NEEDS OF PARENTS WORKING ODD HOURS AND 3RD SHIFT, AND PROVIDED 337 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.KEYSTONE HALL IN NASHUA HAS PROVIDED 28 YEARS OF COMPREHENSIVE SUBSTANCE USE TREATMENT AND RECOVERY SERVICES. IN 2011, KEYSTONE HALL WAS STUCK. ITS BANK COULDN'T LEND THE FULL COST OF A MUCH-NEEDED RELOCATION AND EXPANSION. A LOAN FROM THE N.H. COMMUNITY LOAN FUND FILLED THE GAP.TODAY, KEYSTONE TREATS THOUSANDS MORE PEOPLE FOR SUBSTANCE USE DISORDERS AND HOUSES A MEDICAL CLINIC AND N.H.'S ONLY RESIDENTIAL PROGRAM FOR PREGNANT WOMEN AND WOMEN WITH FAMILIES. 185377 28379 329550 8291343 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 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 422 0 1 60 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 X X BONNIE SCADOVA 6032246669 7 WALL STREET CONCORD NH 03301 DEBORAH BUTLER VICE TREASURER 1.00 X X 0 0 0 CHRISTINA HILL MEMBER 1.00 X 0 0 0 SARA VARELA MEMBER 1.00 X 0 0 0 LOIS PARRIS VICE SECRETARY 1.00 X X 0 0 0 PAULA ROGERS CHAIR 1.00 X X 0 0 0 RANDY ROODY TREASURER 1.00 X X 0 0 0 MICHAEL SWACK EMERITUS 1.00 X 0 0 0 TOM BUNNELL SECRETARY 1.00 X X 0 0 0 DAN MULLER VICE CHAIR 1.00 X X 0 0 0 PAUL SPANG MEMBER 1.00 X 0 0 0 JANET ACKERMAN MEMBER 1.00 X 0 0 0 DEAN LIZOTTE MEMBER 1.00 X 0 0 0 BRIGID MURRAY MEMBER 1.00 X 0 0 0 ANTHONY POORE MEMBER 1.00 X 0 0 0 JULIANA EADES PRESIDENT 40.00 X X 117314 0 18634 LAURA JAMISON FORMER MEMBER 1.00 X 0 0 0 ED TOMEY FORMER CHAIR 1.00 X X 0 0 0 RAY GIROUX FORMER VICE SECRETARY 1.00 X X 0 0 0 BONNIE SCADOVA CHIEF FINANCIAL OFFICER 40.00 X 90387 0 17045 207701 0 35679 1 0 0 0 0 1904342 1182331 79780 3086673 INTEREST FROM LOANS 531390 5625538 5625538 TRAINING, LOAN AND OTH 531390 252006 252006 RENTAL INCOME 531120 94276 94276 5971820 106052 106052 338221 379129 -40908 -40908 -40908 LOAN LOSS RECOVERY 900099 43155 43155 43155 9166792 5974067 0 106052 220011 220011 644948 644948 261042 84504 148370 28168 3413229 3139738 147235 126256 95300 87535 4432 3333 463970 324259 127311 12400 287125 253514 21987 11624 17216 13342 3524 350 48461 32708 14299 1454 7716 7716 227150 180768 39729 6653 47872 47872 344923 272748 40998 31177 52140 35177 12331 4632 132968 68538 62223 2207 128706 121451 5696 1559 86678 84149 2292 237 2391118 2391118 194892 109248 82632 3012 84534 43664 39487 1383 PROPERTY EXPENSES 73637 73637 TRAINING 41794 33720 7321 753 GUARANTY FEE 20978 20978 9286408 8291343 759867 235198 11096742 9320409 596966 277004 476316 559987 42019 35607 5698806 1340542 4513118 4358264 6294254 6415319 64801482 75527142 105606 248558 87926503 96742290 1630197 1136345 771428 723852 57073540 65770694 8100000 8600000 67575165 76230891 X 8849460 9175490 11501878 11335909 0 0 20351338 20511399 87926503 96742290 -119616 279677 0 X X 0 1 X 1 1 1 X 3452998 7474108 4203462 4680786 3086673 22898027 3452998 7474108 4203462 4680786 3086673 22898027 1622620 21275407 145285 146943 151560 142090 106052 691930 1602 557 2159 23592116 14075956 0.90180 0.87690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13 7703 7716 9278692 9286408 614320 153580 0 0 715850 643821 640849 614320 2614840 3922260 9977 5563 6041 7716 29297 178963 160955 160212 153580 653710 980565 191 930 932 13 2066 0 0 321461 321461 4693299 824464 3868835 684046 516078 167968 4358264 LOANS RECEIVABLE 73378034 F ROC USA 1683643 F OTHER PROGRAM-RELATED EQUITY INVESTMENTS 465465 F 75527142 EQUITY EQUIVALENTS PAYABLE 8600000 8600000 X 6258107 279677 67715 -3256077 -2908685 9166792 0 9166792 6098046 67715 67715 6030331 3256077 3256077 9286408 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 STATEMENT 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 FINANCIAL STATEMENTS AT JUNE 30, 2014. THE COMMUNITY LOAN FUNDS 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 -2,391,118. PASS THROUGH GRANTS TO OTHERS -864,959. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,391,118. PASS THROUGH GRANTS TO OTHERS 864,959. 1 COMMUNITY ACTION PROGRAM BELKNAP-MERRIMACK COUNTIES INC PO BOX 1016 2 INDUSTRIAL PARK DRIVE DRIVE CONCORD NH 03302 020270376 501C3 156595 CASH WEATHERIZATION NH COMMUNITY SEAFOOD 1 PIERCE ISLAND ROAD PORTSMOUTH NH 03801 462942904 20580 CASH BUSINESS EDUCATION POLLY'S PANCAKES 672 RTE 117 SUGAR HILL NH 03586 020361345 6100 CASH BUSINESS EDUCATION 1 2 IDA MATCHED SAVINGS GRANTS 78 371040 CASH ROC-NH INFILL HOME GRANTS 19 273908 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 6 35198 FAIR MARKET VALUE X NON-CASH GRAN 8 44582 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, 2014, 109 RESIDENT-OWNED COMMUNITIES IN N.H. WERE HOME TO 6,138 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2014, THE COMMUNITY LOAN FUND MADE 18 LOANS TOTALING $10,219,104. IN DOING SO, IT PRESERVED 332 HOUSING UNITS AND PROVIDED 21,506 HOURS OF TECHNICAL ASSISTANCE TO RESIDENT-OWNED COMMUNITIES. IN AUGUST 2013, THE RESIDENTS OF LAMPREY RIVER AND RAILROAD STREET MOBILE HOME PARKS IN NEWMARKET, N.H. SAW THEIR COLLABORATIVE WORK PAY OFF WHEN THEY COMBINED AND PURCHASED THEIR COMMUNITIES. HERON POINT ESTATES COOPERATIVE BECAME N.H.'S 107TH RESIDENT-OWNED MANUFACTURED-HOME COMMUNITY. USING FUNDING, EDUCATION AND TECHNICAL ASSISTANCE AND TRAINING FROM THE N.H. COMMUNITY LOAN FUND, RESIDENTS OF THE TWO PARKS FORMED HERON POINT ESTATES COOPERATIVE, INC. IN JUNE 2012. THE 37-UNIT COOPERATIVE THEN NEGOTIATED FOR THE FINAL PURCHASE PRICE OF $1.295 MILLION BEFORE FINALIZING THE DEAL WITH MORTGAGES FROM THE COMMUNITY LOAN FUND AND PROFILE BANK. "WE OWN IT, WE MANAGE IT AND WE WILL NEVER HAVE TO WORRY ABOUT SOMEONE COMING IN AND TAKING IT AWAY FROM US. IT HAS BROUGHT A LOT OF US CLOSER TOGETHER AND FORMED OR RENEWED FRIENDSHIPS. WE WILL NOW WORK TOGETHER TO MAKE IT AN AWESOME PLACE TO LIVE BECAUSE IT IS OURS!" SAID CO-OP PRESIDENT SUSAN ROBSHAW. 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 $36 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 PERCENT. DURING FY 14, WELCOME HOME LOANS PROVIDED $6.49 MILLION IN FINANCING TO 138 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 FILL A GAP FOR BORROWERS LIKE MANDY BARTLEY, A WOMAN FOR WHOM OWNING A HOME WAS UNTHINKABLE 10 YEARS AGO. SHE WAS A 20-YEAR-OLD SINGLE MOM, LIVING IN PUBLIC HOUSING, HER CREDIT AND LIFE SEEMINGLY WRECKED BY BAD TEENAGE CHOICES. HER JOURNEY BACK TOOK A LOT OF HARD WORK. MANDY GOT A GOOD JOB, WORKED HARD AT HOMEBUYER AND BUDGETING CLASSES, AND REBUILT HER CREDIT. SHE USED HER SAVINGS FOR A DOWN PAYMENT, QUALIFIED FOR A WELCOME HOME LOAN, AND FOUND A MANUFACTURED HOME AND AN OPEN LOT IN EXETER RIVER MHP COOPERATIVE, CLOSE TO HER PARENTS. IT WAS EXHAUSTING, SHE SAYS, BUT WORTH IT. "IN THE PAST 10 YEARS MY LIFE HAS GONE FROM AWFUL TO 'WOW, I DID IT.'" 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 NEARLY $25 MILLION IN LOANS, RESULTING IN THE CREATION OF OVER 1,379 AFFORDABLE APARTMENTS VALUED AT MORE THAN $191 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. TWENTY YEARS AGO, THE LACONIA AREA COMMUNITY LAND TRUST WAS ONE OF THOSE FLEDGLING ORGANIZATIONS, AND LINDA HARVEY WAS ITS FIRST EXECUTIVE DIRECTOR. "THE COMMUNITY LOAN FUND BROUGHT US TOGETHER FOR NURTURING, TRAINING, TECHNICAL ASSISTANCE. ALL OF THE GROUPS IN N.H. AND ALL OF THE HOUSING THAT HAS BEEN DEVELOPED-THOUSANDS OF UNITS-HAPPENED BECAUSE OF THAT MENTORING." 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 $3.5 MILLION TO MATCH THE SAVINGS OF PROGRAM PARTICIPANTS, INCLUDING MORE THAN $2.1 MILLION TO HELP 424 PEOPLE PURCHASE HOMES. ONE SUCH SAVER, APRIL LEVIN OF PORTSMOUTH, WAS A DIVORCED MOM WHOSE CREDIT HAD BEEN DAMAGED IN THE RECESSION AND WANTED A COLLEGE DEGREE TO HELP STABILIZE HER FUTURE. SHE SIGNED UP FOR THE N.H. COMMUNITY LOAN FUND'S IDA MATCHED-SAVINGS PROGRAM. USING HER $2,000 SAVINGS AND THE $6,000 IDA MATCH, PLUS A STUDENT LOAN, SHE ENROLLED IN SOUTHERN N.H. UNIVERSITY IN FALL OF 2011. "I JUST WANTED TO DO BETTER FOR THE BOYS," SHE SAYS. "IT'S A DIFFERENT BALLGAME WHEN YOU'RE BY YOURSELF, AND THESE DAYS YOU CAN'T GET A JOB WITHOUT A BACHELOR'S DEGREE." LAST MAY, THE BOYS WATCHED THEIR MOM GRADUATE-WITH HONORSWITH A BACHELOR'S DEGREE IN BUSINESS AND A MINOR IN ACCOUNTING. 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. JANE MCLAUGHLIN AND HER HUSBAND, PETER, FIRST INVESTED IN THE N.H. COMMUNITY LOAN FUND IN 2009. YOU MIGHT SAY IT WAS A DOLLARS AND SENSE DECISION. "IT MADE SENSE," SAYS JANE. "IT WASN'T CHARITABLE MONEY. IT WAS A VERY SOUND INVESTMENT THAT HAD AN ATTRACTIVE FIXED RATE OF RETURN." COMMUNITY LOAN FUND INVESTORS CHOOSE A FIXED INTEREST RATE TIED TO THE LENGTH OF THEIR INVESTMENT, UP TO 5% FOR 10 OR MORE YEARS. ALTHOUGH INVESTMENTS ARE UNSECURED AND UNINSURED BY THE FEDERAL DEPOSIT INSURANCE CORP., THE COMMUNITY LOAN FUND HAS MAINTAINED A PERFECT REPAYMENT RECORD FOR 31 YEARS. "I THINK IT'S AN OPPORTUNITY TO INVEST IN PEOPLE ACHIEVING," PETER SAYS. "WHETHER IT'S EXPANDING A BUSINESS, BUYING A HOME, OR RESIDENTS TAKING OVER THEIR MANUFACTURED-HOME COMMUNITY, YOU'RE EMPOWERING PEOPLE WHO OTHERWISE PROBABLY WOULD NOT HAVE THAT SAME OPPORTUNITY." INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $5 MILLION. THE PHILANTHROPY PROGRAM BROUGHT IN $13.7 MILLION FROM 93 NEW INVESTMENTS IN FY 14, PUSHING THE TOTAL NUMBER OF CURRENT INVESTORS TO 545. 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 14, OUR BUSINESS FINANCE TEAM MADE SEVEN INVESTMENTS TOTALING $1.84 MILLION, CREATING OR PRESERVING 73 JOBS. EIGHTEEN BUSINESS OWNERS PARTICIPATED IN CEO PEERLINK, A GROUP IN WHICH CEOS MEET MONTHLY TO SHARE BEST PRACTICES, PROVIDE SUPPORT AND SOLVE BUSINESS PROBLEMS. PROBLEMS LIKE WHAT TO DO WITH THE UNUSED MOUNDS OF METAL SHAVINGS AND ODD-SIZED ROD ENDS, ALL LITERALLY DRIPPING CUTTING FLUIDS, CREATED BY MACHINE SHOPS. THEY CONSIDER IT WASTE. WOODY BIGOS SAW WASTE AND OPPORTUNITY. HE LAUNCHED SIMPLE LIFE RECYCLING IN ROCHESTER WITH THE GOAL OF RADICALLY CHANGING THE METALWORKING MARKET BY TURNING WASTE STREAMS INTO REVENUE STREAMS. WHEN HE NEEDED AN INFUSION OF CAPITAL, THE N.H. COMMUNITY LOAN FUND'S VESTED FOR GROWTH FINANCING WAS THE RIGHT FIT. "THEY WANT ME TO BE ME AND THEY WANT THE COMPANY TO BE AS SUCCESSFUL AS POSSIBLE. EVERYBODY WINS," SAID WOODY. 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. NATIONAL COMPARATIVE DATA WAS OBTAINED FROM THE CHARITY NAVIGATOR 2012-2013 CEO COMPENSATION STUDY WHICH WAS MADE UP OF A POOL OF 3500 NATION-WIDE NON-PROFIT ORGANIZATIONS WITH 501(C)3 DESIGNATIONS THAT FILE 990S IN ADDITION TO THE OPPORTUNITY FINANCE NETWORK SALARY SURVEY THAT COMPARES NATIONAL PAY FROM SIMILAR ORGANIZATIONS. REGIONAL DATA INCLUDED EVALUATION OF SEVERAL NEW ENGLAND NON-PROFIT INSTITUTIONS COMPARABLE TO THE COMMUNITY LOAN FUND IN EITHER SIZE OR ACTIVITY. THIS INFORMATION WAS LOCATED VIA RESEARCH OF THE ORGANIZATIONS' FORMS 990 FOR 2012 AND 2013. LOCAL (NEW HAMPSHIRE) DATA WAS FOUND IN THE 2012 REPORT ON NONPROFIT WAGES & BENEFITS COMPILED BY THE NH CENTER FOR NONPROFITS. AN EXECUTIVE COMPENSATION COMMITTEE WAS APPOINTED BY THE BOARD AND CONSISTED OF THREE BOARD MEMBERS, WITH ASSISTANCE FROM THE HUMAN RESOURCES DIRECTOR. AFTER A REVIEW OF THE DATA AND DISCUSSION, IT WAS DETERMINED THAT BOTH POSITIONS WERE 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 EXECUTIVE COMPENSATION COMMITTEE ARE ON FILE. 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 THE FORM 990 IS PROVIDED TO THE BOARD ANNUALLY FOR APPROVAL. 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 LENDERS 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. FIVE MEMBERS OF THE BOARD OF DIRECTORS HAVE PROVIDED LOANS TOTALING $241,268 TO THE COMMUNITY LOAN FUND. ELEVEN EMPLOYEES HAVE PROVIDED LOANS TOTALING $118,711 TO THE COMMUNITY LOAN FUND. ALL BOARD MEMBERS AND STAFF ARE TYPICALLY DONORS TO THE COMMUNITY LOAN FUND. ONE MEMBER OF THE BOARD OF DIRECTORS IS ALSO A BOARD MEMBER OF AN ORGANIZATION THAT HAS A LOAN FROM THE COMMUNITY LOAN FUND TOTALING $182,635. THE TRANSACTIONS ARE PART OF THE COMMUNITY LOAN FUND'S NORMAL COURSE OF BUSINESS AND ARE OPEN TO THE PUBLIC AT LARGE.