COMMUNITY REINVESTMENT FUND INC: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- COMMUNITY REINVESTMENT FUND INC (EIN 41-1616861)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2014-02-10
- IRS object ID
- 201430419349300248
- Schema version
- 2012v2.3
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2014-02-10T15:00:18-06:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Grant Thornton LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1400 US BANK PLAZA N 200 S 6TH ST | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 554021459 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411616861 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COMMUNITY REINVESTMENT FUND INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % SCOTT YOUNG | InCareOfName |
| Name Control | COMM | NameControl |
| Phone | 6123383050 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET MALL | AddressLine1 |
| Address Line2 | Suite 1700W | AddressLine2 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 554022903 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Scott Young | Name |
| Title | CFO | Title |
| Phone | 6123052565 | Phone |
| Date Signed | 2014-01-23 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6123320001 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | FRANK ALTMAN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 Nicollet Mall | AddressLine1 |
| City | Suite W | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 28108299 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.CRFUSA.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1988 | YearFormation |
| State Legal Domicile | MN | StateLegalDomicile |
| Activity Or Mission Description | To improve the lives of disadvantaged people and strenghten distressed communities through innovative finance. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 17 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 16 | NbrIndependentVotingMembers |
| Total Nbr Employees | 52 | TotalNbrEmployees |
| Total Nbr Volunteers | 17 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Contributions Grants Prior Year | 708333 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 3289620 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 27132635 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 24818679 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 0 | InvestmentIncomePriorYear |
| Investment Income Current Year | 0 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 27840968 | TotalRevenuePriorYear |
| Total Revenue Current Year | 28108299 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 6291726 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 6927988 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 63134 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 20000 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 602769 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 18810173 | OtherExpensePriorYear |
| Other Expenses Current Year | 26665785 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 25165033 | TotalExpensesPriorYear |
| Total Expenses Current Year | 33613773 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2675935 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -5505474 | RevenuesLessExpensesCY |
| Total Assets BOY | 289953325 | TotalAssetsBOY |
| Total Assets EOY | 260763575 | TotalAssetsEOY |
| Total Liabilities BOY | 292262392 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 266896086 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | -2309067 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | -6132511 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | SEE SCHEDULE O. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 28995342 | Expense |
| Revenue | 23006063 | Revenue |
| Description | SEE SCHEDULE O. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1962980 | Expense |
| Revenue | 1812615 | Revenue |
| Description | SEE SCHEDULE O. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 30958322 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | true | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | false | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | true | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | true | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 58 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 52 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 17 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 16 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | false | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | true | InvestmentInJointVenture |
| Written Policy Or Procedure | true | WrittenPolicyOrProcedure |
| States Where Copy Of Return Is Filed | AL | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | AK | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | AZ | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | AR | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | CO | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | CT | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | DC | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | FL | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | GA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | HI | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | ID | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | IL | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | KS | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | KY | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | ME | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | MD | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | MI | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | MN | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | MS | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | NH | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | NJ | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | NM | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | NY | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | NC | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | ND | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | OK | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | OR | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | PA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | RI | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | SC | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | TN | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | UT | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | VA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | WA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | WV | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | WI | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | SCOTT YOUNG | NamePerson |
| Telephone Number | 6123052565 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET SUITE 1700 W | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (26 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| FRANK ALTMAN | ||||||||
| CEO | 40.0 | X | X | 641068 | 0 | 44612 | ||
| KIM LATIMER-NELLIGAN | ||||||||
| CHAIR | 1.0 | X | 0 | 0 | 0 | |||
| MARY KAISER | ||||||||
| Secretary | 1.0 | X | 0 | 0 | 0 | |||
| ALTON M BATHRICK | ||||||||
| TREASURER | 1.0 | X | 0 | 0 | 0 | |||
| REZA AGHAMIRZADEH | ||||||||
| Vice-Chair | 1.0 | X | 0 | 0 | 0 | |||
| JIM BAIRD | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| MICHAEL BANNER | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| TONY BROWN | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| KARL EGGE | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| WARREN HANSON | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| JAMES R KLEIN | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| DAVID SCHECK | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| GERALD THOLE | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| MIKE CHRISTENSON | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| CALVIN L HOLMES | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| SALLI MARTYNIAK | ||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | |||
| JAMES J SOLEM | ||||||||
| Director | 1.0 | X | 0 | 0 | 0 | |||
| SCOTT YOUNG | ||||||||
| VICE PRESIDENT - CFO | 40.0 | X | 591300 | 0 | 28612 | |||
| RICHARD HEBL | ||||||||
| VICE PRESIDENT | 40.0 | 225527 | 0 | 19743 | X | |||
| WARREN McLEAN | ||||||||
| VICE PRESIDENT | 40.0 | 236758 | 0 | 28482 | X | |||
| COLLEEN SCHWARZ | ||||||||
| VICE PRESIDENT | 40.0 | 306215 | 0 | 10298 | X | |||
| DAN KOMAREK | ||||||||
| CHIEF CREDIT OFFICER | 40.0 | 265015 | 0 | 28479 | X | |||
| JENNIFER NOVAK | ||||||||
| Director Structured Finance | 40.0 | 262031 | 0 | 28454 | X | |||
| DAWN JOHNSON | ||||||||
| DIRECTOR OF ASSET MANAGEMENT | 40.0 | 282923 | 0 | 9920 | X | |||
| Nicholas Elders | ||||||||
| Director of IT | 40.0 | 147923 | 0 | 21127 | X | |||
| Mary Sullivan | ||||||||
| Servicing Manager | 40.0 | 141442 | 0 | 9672 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 3100202 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 229399 | TotalOtherCompensation |
| Number Individuals GT100 K | 11 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| PERKINS COIE | |||||
| 131 S DEARBORN ST | CHICAGO | IL | 60609 | LEGAL | 583846 |
| GRANT THORNTON | |||||
| 200 S 6TH ST | MINNEAPOLIS | MN | 55402 | ACCOUNTING | 251186 |
| NOVOGRADAC COMPANY LLP | |||||
| PO BOX 7833 | SAN FRANCISCO | CA | 94120 | ACCOUNTING | 193641 |
| CLEAR NORTH TECHNOLOGIES | |||||
| 3650 ANNAPOLIS LANE N SUITE 110 | PLYMOUTH | MN | 55447 | INFORMATION TECH | 230228 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
| All Other Contributions | 3289620 | AllOtherContributions |
| Total Contributions | 3289620 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| LOAN SERVICING INTEREST INCOME | 525990 | 17793068 | 17793068 |
| LOAN SERVICING TRANSACTION FEES | 525990 | 5324077 | 5324077 |
| PREPAYMENT PENALTY INCOME | 525990 | 51827 | 51827 |
| OTHER INCOME | 525990 | 1649707 | 1649707 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 24818679 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 28108299 | TotalRevenueColumn |
| Related Or Exempt Function Income | 24818679 | RelatedOrExemptFunctionIncome |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2218992 | Total |
| Program Services | 1806788 | ProgramServices |
| Management And General | 123237 | ManagementAndGeneral |
| Fundraising | 288967 | Fundraising |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3398962 | Total |
| Program Services | 2890915 | ProgramServices |
| Management And General | 378960 | ManagementAndGeneral |
| Fundraising | 129087 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 171492 | Total |
| Program Services | 143401 | ProgramServices |
| Management And General | 15330 | ManagementAndGeneral |
| Fundraising | 12761 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 747281 | Total |
| Program Services | 624873 | ProgramServices |
| Management And General | 66800 | ManagementAndGeneral |
| Fundraising | 55608 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 391261 | Total |
| Program Services | 327171 | ProgramServices |
| Management And General | 34975 | ManagementAndGeneral |
| Fundraising | 29115 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 421468 | Total |
| Management And General | 421468 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 411186 | Total |
| Management And General | 411186 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20000 | Total |
| Fundraising | 20000 | Fundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 787931 | Total |
| Program Services | 594262 | ProgramServices |
| Management And General | 192554 | ManagementAndGeneral |
| Fundraising | 1115 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 139911 | Total |
| Program Services | 97405 | ProgramServices |
| Management And General | 37483 | ManagementAndGeneral |
| Fundraising | 5023 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 431088 | Total |
| Program Services | 188065 | ProgramServices |
| Management And General | 226433 | ManagementAndGeneral |
| Fundraising | 16590 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 187545 | Total |
| Program Services | 166480 | ProgramServices |
| Management And General | 13801 | ManagementAndGeneral |
| Fundraising | 7264 | Fundraising |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 64240 | Total |
| Program Services | 55968 | ProgramServices |
| Management And General | 4361 | ManagementAndGeneral |
| Fundraising | 3911 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14415924 | Total |
| Program Services | 14415924 | ProgramServices |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 337239 | Total |
| Program Services | 235686 | ProgramServices |
| Management And General | 81422 | ManagementAndGeneral |
| Fundraising | 20131 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| EMPLOYEE OVERHEAD | 122217 | 102197 | 10925 | 9095 |
| DUES/SUBSCRIPTIONS | 57631 | 5793 | 47747 | 4091 |
| PROVISION FOR LOAN LOSSES | 8448058 | 8448058 | ||
| SERVICING FEES | 439193 | 439193 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 402154 | Total |
| Program Services | 416143 | ProgramServices |
| Management And General | -14000 | ManagementAndGeneral |
| Fundraising | 11 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33613773 | Total |
| Program Services | 30958322 | ProgramServices |
| Management And General | 2052682 | ManagementAndGeneral |
| Fundraising | 602769 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50 | BOY |
| EOY | 50 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23364266 | BOY |
| EOY | 27977547 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 264209734 | BOY |
| EOY | 229091944 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 3910514 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 3096176 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 500063 | BOY |
| EOY | 814338 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1406196 | BOY |
| EOY | 1406196 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 473016 | BOY |
| EOY | 1473500 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 289953325 | BOY |
| EOY | 260763575 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5853130 | BOY |
| EOY | 6886410 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4501000 | BOY |
| EOY | 3339000 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 252475213 | BOY |
| EOY | 228686603 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 29433049 | BOY |
| EOY | 27984073 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 292262392 | BOY |
| EOY | 266896086 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -3277926 | BOY |
| EOY | -7505658 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 968859 | BOY |
| EOY | 1373147 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -2309067 | BOY |
| EOY | -6132511 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 289953325 | BOY |
| EOY | 260763575 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -5505474 | ReconcilationRevenueExpenses |
| Reconcilation Prior Adjustment | -546891 | ReconcilationPriorAdjustment |
| Reconcilation Other Changes | 2228921 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type2 | X | SupportingOrg509a3Type2 |
| Certification Checkbox | X | CertificationCheckbox |
| Contrib By Controlling Individual | false | ContribByControllingIndividual |
| Contribution By Related Party | false | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | false | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation (10 entries)
| EINEIN | Type Of OrganizationTypeOfOrganization | Listed In Governing DocListedInGoverningDoc | AmountAmount |
|---|---|---|---|
| LOW INCOME INVESTMENT FUND | |||
| 942952578 | 07 | false | $250 |
| CALIFORNIA COMMUNITY REINVESTMENT CORPORATION | |||
| 954207717 | 09 | false | $250 |
| BAY AREA DEVELOPMENT COMPANY | |||
| 953457545 | 0 | false | $250 |
| LOS ANGELES LOCAL DEVELOPMENT CORPORATION | |||
| 953532380 | 09 | false | $250 |
| CITY OF MPLS COMMUNITY PLANNING & ECONOMIC DEVELOPMENT DEPT | |||
| 000000000 | 06 | false | $0 |
| NCB CAPITAL IMPACT | |||
| 521290127 | 07 | false | $0 |
| FORWARD COMMUNITY INVESTMENTS | |||
| 391815578 | 07 | false | $100 |
| GREATER MINNESOTA HOUSING FUND | |||
| 411836919 | 0 | false | $100 |
| CHICAGO COMMUNITY LOAN FUND | |||
| 363762123 | 07 | false | $200 |
| OHIO COMMUNITY DEVELOPMENT FINANCE FUND | |||
| 311229532 | 07 | false | $100 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 10 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 1500 | SumOfAmounts |
| General Explanation | CRF IS A NOT-FOR-PROFIT FINANCIAL SERVICES CORPORATION THAT PROVIDES NEW LOAN CAPITAL FOR COMMUNITY BASED DEVELOPMENT ORGANIZATIONS (I.E. 501(C)(3) ENTITIES) AND GOVERNMENTAL ENTITIES. CRF SUPPORTS A CLASS OF BENEFICIARY ORGANIZATIONS THAT INCLUDE SECTION 501(C)(3) LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS (SECTION 170(B)(1)(VI) ORGANIZATIONS) AND UNITS OF FEDERAL, STATE, COUNTY OR MUNICIPAL GOVERNMENT, OR DULY CONSTITUTED AGENCIES THEREOF (SECTION 170(B)(1)(A)(V) ORGANIZATIONS) THAT FOCUS THEIR LENDING ACTIVITIES AT ECONOMICALLY DISTRESSED OR DECLINING AREAS, DISADVANTAGED PERSONS, NEIGHBORHOOD OR COMMUNITY REVITALIZATION, OR OTHER SECTION 501(C) CHARITABLE PURPOSES. | GeneralExplanation |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | true | IncludedOnFS |
| Current Year Minus3 Years | CurrentYearMinus3Years | |
| Current Year Minus4 Years | CurrentYearMinus4Years | |
| Land | Land | |
| Buildings | Buildings | |
| Leasehold Improvements | LeaseholdImprovements |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3910514 | OtherCostOrOtherBasis |
| Depreciation | 3096176 | Depreciation |
| Book Value | 814338 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Land Buildings | OtherLandBuildings | |
| Total Of Book Value Land Buildings | 814338 | TotalOfBookValueLandBuildings |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | SCHEDULE D: ESCROW, CUSTODIAL | Identifier |
| Return Reference | ESCROW LIABILITY ON BALANCE SHEET | ReturnReference |
| Explanation | REPRESENTS FUNDS HELD IN TRUST FOR BORROWERS. | Explanation |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | X | MailSolicitations |
| Email Solicitations | X | EmailSolicitations |
| Phone Solicitations | X | PhoneSolicitations |
| In Person Solicitations | X | InPersonSolicitations |
| Solicitation Of Non Govt Grants | X | SolicitationOfNonGovtGrants |
| Solicitation Of Govt Grants | X | SolicitationOfGovtGrants |
| Special Fundraising Events | X | SpecialFundraisingEvents |
| Agreement Ref Fundraising | true | AgreementRefFundraising |
Fundraiser Activity Information FundraiserActivityInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Individual | Redwood Philanthropic Advisr 3109 W | NameOfIndividual |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3109 W 50th St Suite 296 | AddressLine1 |
| City | Minneapolis | City |
| State | MN | State |
| ZIP Code | 55410 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | Consulting | Activity |
| Fundraiser Control Of Funds | false | FundraiserControlOfFunds |
| Gross Receipts | 0 | GrossReceipts |
| Amount Retained By Contractor | 20000 | AmountRetainedByContractor |
| Net To Organization | 0 | NetToOrganization |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Gross Receipts | 0 | TotalGrossReceipts |
| Total Retained By Contractors | 20000 | TotalRetainedByContractors |
| Total Net To Organization | 0 | TotalNetToOrganization |
| Licensed States | AL | LicensedStates |
| Licensed States | AK | LicensedStates |
| Licensed States | AZ | LicensedStates |
| Licensed States | AR | LicensedStates |
| Licensed States | CA | LicensedStates |
| Licensed States | CO | LicensedStates |
| Licensed States | CT | LicensedStates |
| Licensed States | DC | LicensedStates |
| Licensed States | FL | LicensedStates |
| Licensed States | GA | LicensedStates |
| Licensed States | HI | LicensedStates |
| Licensed States | ID | LicensedStates |
| Licensed States | IN | LicensedStates |
| Licensed States | IA | LicensedStates |
| Licensed States | KS | LicensedStates |
| Licensed States | KY | LicensedStates |
| Licensed States | ME | LicensedStates |
| Licensed States | MD | LicensedStates |
| Licensed States | MA | LicensedStates |
| Licensed States | MI | LicensedStates |
| Licensed States | MN | LicensedStates |
| Licensed States | MS | LicensedStates |
| Licensed States | MT | LicensedStates |
| Licensed States | NE | LicensedStates |
| Licensed States | NV | LicensedStates |
| Licensed States | NH | LicensedStates |
| Licensed States | NJ | LicensedStates |
| Licensed States | NM | LicensedStates |
| Licensed States | NY | LicensedStates |
| Licensed States | NC | LicensedStates |
| Licensed States | ND | LicensedStates |
| Licensed States | OH | LicensedStates |
| Licensed States | OK | LicensedStates |
| Licensed States | OR | LicensedStates |
| Licensed States | PA | LicensedStates |
| Licensed States | RI | LicensedStates |
| Licensed States | SC | LicensedStates |
| Licensed States | SD | LicensedStates |
| Licensed States | TN | LicensedStates |
| Licensed States | TX | LicensedStates |
| Licensed States | UT | LicensedStates |
| Licensed States | VT | LicensedStates |
| Licensed States | VA | LicensedStates |
| Licensed States | WA | LicensedStates |
| Licensed States | WV | LicensedStates |
| Licensed States | WI | LicensedStates |
| Licensed States | WY | LicensedStates |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (11 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FRANK ALTMAN | ||||||||||||||
| CEO | 306908 | 0 | 334160 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 641068 | 0 | 0 | 0 |
| RICHARD HEBL | ||||||||||||||
| VICE PRESIDENT | 167027 | 0 | 58500 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 225527 | 0 | 0 | 0 |
| SCOTT YOUNG | ||||||||||||||
| VICE PRESIDENT - CFO | 314000 | 0 | 277300 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 591300 | 0 | 0 | 0 |
| WARREN McLEAN | ||||||||||||||
| VICE PRESIDENT | 178758 | 0 | 58000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 236758 | 0 | 0 | 0 |
| COLLEEN SCHWARZ | ||||||||||||||
| VICE PRESIDENT | 236215 | 0 | 70000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 306215 | 0 | 0 | 0 |
| DAN KOMAREK | ||||||||||||||
| CHIEF CREDIT OFFICER | 178015 | 0 | 87000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 265015 | 0 | 0 | 0 |
| JENNIFER NOVAK | ||||||||||||||
| Director Structured Finance | 172031 | 0 | 90000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 262031 | 0 | 0 | 0 |
| DAWN JOHNSON | ||||||||||||||
| DIRECTOR OF ASSET MANAGEMENT | 196923 | 0 | 86000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 282923 | 0 | 0 | 0 |
| Nicholas Elders | ||||||||||||||
| Director of IT | 106923 | 0 | 41000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 147923 | 0 | 0 | 0 |
| Mary Sullivan | ||||||||||||||
| Servicing Manager | 122442 | 0 | 19000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 141442 | 0 | 0 | 0 |
| BRIAN BURKE | ||||||||||||||
| NATIONAL DIRECTOR OF SBA | 127439 | 0 | 36000 | 0 | 14624 | 0 | 0 | 0 | 0 | 0 | 178063 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| PART III: STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS | LINE 1: BRIEFLY DESCRIBE THE ORGANIZATION'S MISSION | To improve the lives of disadvantaged people and strengthen distressed communities through innovative finance. |
| PART III: STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS | LINE 4A: PROGRAM SERVICE | As a non-profit, mission driven organization, Community Reinvestment Fund ("CRF") provides otherwise unavailable loan capital to communities, small businesses, entrepreneurs, non-profit organizations and housing organizations. During FY 2013, CRF provided financing totaling $79 million in 15 states. The loans provided by CRF resulted in the creation or retention of more than 3,430 jobs, financing for more than 279 affordable housing units and the creation of 700 education slots. |
| PART III: STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS | LINE 4B: PROGRAM SERVICE | CRF is an active Fannie Mae servicer and is rated by Standard and Poor's. As an experienced, mission-driven organization, CRF specializes in customized projects for non-traditional portfolios and organizations. During FY 13, CRF provided contract loan servicing for 42 community development lenders, a volume of approximately 5,631 loans amounting to $133,349,000. In addition, CRF serviced approximately 715 economic development and affordable housing loans purchased from local community development lenders and placed into securitizations and structured transactions, thereby freeing up capital for re-use by the local organizations. Also during FY 13, CRF provided servicing for 58 high risk loans on formerly foreclosed homes through a collaborative program in Minneapolis and St. Paul, MN. |
| PART VI: GOVERNANCE, MANAGEMENT, & DISCLOSURE | SECTION A. GOVERNING BODY AND MANAGEMENT, LINE 7A | SUBSEQUENT TO THE INITIAL BOARD OF TRUSTEES, A MAJORITY OF THE BOARD SHALL CONSIST OF INDIVIDUALS APPOINTED OR ELECTED BY BENEFICIARY ORGANIZATIONS. PER THE ARTICLES OF INCORPORATION, THE CLASS OF BENEFICIARY ORGANIZATIONS INCLUDES SECTION 501(C)(3) LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS AND UNITS OF FEDERAL, STATE, COUNTY OR MUNICIPAL GOVERNMENT, OR DULY CONSTITUTED AGENCIES THEREOF THAT FOCUS THEIR LENDING ACTIVITIES AT ECONOMICALLY DISTRESSED OR DECLINING AREAS, DISADVANTAGED PERSONS, NEIGHBORHOOD OR COMMUNITY REVITALIZATION OR OTHER SECTION 501(C)(3) CHARITABLE PURPOSES. |
| PART VI: GOVERNANCE, MANAGEMENT & DISCLOSURE | SECTION A: GOVERNING BODY & MANAGEMENT, LINE 11B | THE 990 IS REVIEWED BY SENIOR MANAGEMENT IN DETAIL BEFORE FILING WITH THE IRS. A FINAL COPY OF THE RETURN IS SENT TO THE BOARD PRIOR TO FILING FOR A HIGH LEVEL REVIEW. |
| PART VI: GOVERNANCE, MANAGEMENT & DISCLOSURE | SECTION B: POLICIES, LINE 12C | Since CRF is a 501(C)(3) supporting organization, a majority of the governing board could qualify as potential customers. The Board has chosen not to review individual loans anymore, so there is no longer a conflict issue in that area. Certain members are affiliated with financial institutions that may be involved with a CRF transaction, and in those cases, the member abstains from any vote taken. All employees are covered under the Conflict of Interest policy. It is imperative that employees disclose the existence of any actual or potential conflicts of interest as soon as possible so that safeguards can be established. |
| PART VI: GOVERNANCE, MANAGEMENT & DISCLOSURE | SECTION B: POLICIES, LINE 15A | THE BOARD DETERMINES COMPENSATION BASED ON A STUDY PERFORMED BY AN INDEPENDENT COMPENSATION CONSULTANT. THE MOST RECENT COMPENSATION STUDY WAS COMPLETED DURING FISCAL YEAR ENDED 2013. The deliberations and decisions are documented with the human resources department. |
| PART VI: GOVERNANCE, MANAGEMENT & DISCLOSURE | SECTION C: DISCLOSURE: LINE 19 | AVAILABLE UPON REQUEST. |
| PART XI: Reconciliation of Net Assets | Line 8 | This relates to prior period adjustments from loans receivable as a result of intercompany transactions. |
| PART XI: Reconciliation of Net Assets | Line 9 | This relates to the reconciliation of current year M Adjustments to the prior year balance for disregarded entities. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (32 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|
| CRF Affordable Housing No1 | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 3452 | 14219572 | CRF Inc |
| CRF Affordable Housing No 2 | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -67275 | 38481534 | CRF Inc |
| CRF Affordable Housing No 3 | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 132101 | 73643669 | CRF Inc |
| CRF 18 LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -1829611 | 10355767 | CRF Inc |
| CRF 19 LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -3217603 | 23024435 | CRF Inc |
| ML BLC LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -344946 | 20652008 | CRF Inc |
| BLC WCDE | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -2480487 | 9287097 | CRF Inc |
| NNMTCF 1 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -46 | 5418 | CRF Inc |
| NNMTCF 2 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 38 | 14654 | CRF Inc |
| NNMTCF 3 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 84 | 3265 | CRF Inc |
| NNMTCF 4 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 14 | 33928 | CRF Inc |
| NNMTCF 5 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 155 | 64179 | CRF Inc |
| NNMTCF 6 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 22 | 13308 | CRF Inc |
| NNMTCF 7 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 46 | 735 | CRF Inc |
| NNMTCF 8 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 80 | 18855 | CRF Inc |
| NNMTCF 10 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -3342 | 4339 | CRF Inc |
| NNMTCF 12 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | -598 | 2964 | CRF Inc |
| NNMTCF 13 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 25 | 3532 | CRF Inc |
| NNMTCF 14 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 11 | 107015 | CRF Inc |
| NNMTCF 15 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 11 | 78442 | CRF Inc |
| BLC Beta GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 2514 | 10427 | CRF Inc |
| NNMTCF 9 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 10 | 16 | CRF Inc |
| NNMTCF 16 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 0 | 2014 | CRF Inc |
| NNMTCF 17 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 20 | 2520 | CRF Inc |
| NNMTCF 18 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 12 | 2512 | CRF Inc |
| NNMTCF 19 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 8 | 2008 | CRF Inc |
| NNMTCF 20 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 3 | 52779 | CRF INC |
| NNMTCF 21 GP LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55401 | 411616861 | Comm Dvlpmnt | MN | 0 | 60190 | CRF Inc |
| CRF 16 LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 0 | 0 | CRF Inc |
| CRF 17 LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 0 | 0 | CRF Inc |
| CRF Small Business Loan Company LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 288341 | 7344046 | CRF Inc |
| JP BLC LLC | |||||||||
| 801 Nicollet Mall 1700W | Minneapolis | MN | 55402 | 411616861 | Comm Dvlpmnt | MN | 0 | 0 | CRF Inc |
Form990 Schedule R Part II Form990ScheduleRPartII (8 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Controlled OrgControlledOrg |
|---|---|---|---|---|---|---|---|---|---|
| Low Income Investment Fund | |||||||||
| 100 Pine Street Suite 1800 | San Francisco | CA | 94111 | 942952578 | Urban Dvlpmnt | CA | 501(c)(3) | 07 | false |
| CALIFORNIA COMMUNITY REINVESTMENT CORPOR | |||||||||
| 225 W Broadway Suite 120 | Glendale | CA | 91204 | 954207717 | Urban Dvlpmnt | CA | 501(c)(3) | 09 | false |
| Bay Area Employment Development Company | |||||||||
| 1801 Oakland Blvd Suite 100 | Walnut Creek | CA | 94596 | 953457545 | Urban Dvlpmnt | CA | 501(c)(4) | false | |
| LOS ANGELES LCD Inc | |||||||||
| 120 Wilshire Blvd No 404 | Los Angeles | CA | 90017 | 953532380 | Urban Dvlpmnt | CA | 501(c)(3) | 09 | false |
| FORWARD COMMUNITY INVESTMENTS | |||||||||
| 211 S Paterson St No 160 | Madison | WI | 53703 | 391815578 | Urban Dvlpmnt | WI | 501(c)(3) | 07 | false |
| GREATER MINNESOTA HOUSING FUND | |||||||||
| 332 Minnesota Street Suite 1201E | St Paul | MN | 55101 | 411836919 | Urban Dvlpmnt | MN | 501(c)(3) | 11 | false |
| CHICAGO COMMUNITY LOAN FUND | |||||||||
| 29 E Madison No 1700 | Chicago | IL | 60602 | 363762123 | Urban Dvlpmnt | IL | 501(c)(3) | 07 | false |
| OHIO COMMUNITY DEVELOPMENT FINANCE FUND | |||||||||
| 17 South High Street Suite 900 | Columbus | OH | 43215 | 311229532 | Urban Dvlpmnt | OH | 501(c)(3) | 07 | false |
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The National New Market Tax Credit Fund | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET MALL SUITE 1700W | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 554022903 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 753013049 | EIN |
| Primary Activity | Urban Dvlpmnt | PrimaryActivity |
| Legal Domicile State | DE | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CRF Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C Corp | TypeOfEntity |
| Share Of Total Income | 0 | ShareOfTotalIncome |
| Share Of EOY Assets | 0 | ShareOfEOYAssets |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
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