2014-05-07T08:13:36-05:00 2013-06-30 133034831 ARTHUR J GIGLIO CPA 250 EAST HARTSDALE AVENUE SUITE 34 HARTSDALE NY 10530 990 2012-07-01 132792409 THE COMMUNITY PRESERVATION CORPORATION COMM 2128695300 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 100167943 KEVIN MORAN 2128695300 2014-04-23 1 ROGER DEVRIES P00233256 9147237743 2014-04-23 2012 2015-11-30 17:44:51Z RAFAEL E CESTERO 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 100167943 45812427 0 X WWW.COMMUNITYP.COM X 1974 NY TO COMBAT COMMUNITY DETERIORATION, PROMOTE THE GENERAL WELFARE, AND LESSEN THE BURDENS OF GOVERNMENT BY PROVIDING FINANCING FOR LOW & MODERATE INCOME HOUSING. 15 15 150 0 0 15373 2259072 850 49454141 40770426 230974 795711 0 0 51944187 41566987 2460359 3000 0 0 15319544 12418364 0 0 0 58597137 36085115 76377040 48506479 -24432853 -6939492 1152788419 804834724 1111768376 751673987 41020043 53160737 TO COMBAT COMMUNITY DETERIORATION, PROMOTE THE GENERAL WELFARE, AND LESSEN THE BURDENS OF GOVERNMENT BY PROVIDING FINANCING FOR LOW & MODERATE INCOME HOUSING. 0 0 39866701 3000 41566137 THE COMMUNITY PRESERVATION CORPORATION (CPC) IS A PRIVATE NOT-FOR-PROFIT MORTGAGE LENDER SPECIALIZING IN THE FINANCING OF LOW AND MODERATE INCOME HOUSING. CPC'S MISSION IS TO WORK WITH GOVERNMENT TO PRESERVE AND DEVELOP AFFORDABLE HOUSING IN NEW YORK, NEW JERSEY, AND CONNECTICUT. IN ITS 38 YEARS OF EXISTENCE, CPC HAS FINANCED THE REHABILITATION OR CONSTRUCTION OF 147,358 AFFORDABLE HOUSING UNITS. DURING THE YEAR ENDED JUNE 30, 2013, CPC ORIGINATED $161,916,094 OF PUBLIC AND PRIVATE FUNDS REPRESENTING FINANCING ON 2,105 UNITS. 39866701 1 0 0 1 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 1 2765 0 1 150 1 1 1 0 0 0 0 0 0 0 0 0 X 15 15 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 NY X KEVIN MORAN 2128695300 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 100167943 MICHAEL HEGARTY 1.00 X X 0 0 0 RICHARD C DEZEGO 1.00 X 0 0 0 THOMAS GARBUTT 1.00 X 0 0 0 TODD A GOMEZ 1.00 X 0 0 0 RICHARD M GUNTHEL 1.00 X 35000 0 0 ROBERT J MUELLER 1.00 X 15000 0 0 GREGORY R REIMERS 1.00 X 0 0 0 ARTHUR H SETER 1.00 X 0 0 0 JOHN SOMERS 1.00 X 15000 0 0 BRUCE A BEAL 1.00 X 0 0 0 D KENNETH PATTON 1.00 X 0 0 0 ANDERS TOMSON 1.00 X 0 0 0 MICHAEL J WECHSLER 1.00 X 0 0 0 ALAN WEINER 1.00 X 0 0 0 RONALD POE 1.00 X 0 0 0 RAFAEL E CESTERO 22.30 12.70 X 382565 217538 25903 SADIE MCKEOWN 35.00 0.00 X 244320 0 66198 KEVIN T MORAN 28.90 6.10 X 213380 45272 36744 RICHARD A KUMRO 16.60 18.40 X 132886 146875 58703 CAROLYN AU 35.00 0.00 X 215123 0 38670 CHRISTOPHER P BETTS 35.00 0.00 X 130016 0 24475 RICHARD P CONLEY 35.00 0.00 X 226078 0 49212 BRUCE S DALE 35.00 0.00 X 195159 0 49646 ALICE J DUNN 29.50 5.50 X 375652 69971 22361 CHRISTOPHER R HOOKE 35.00 0.00 X 156706 0 36305 DIANNA LOOK 35.00 0.00 X 300784 0 24382 MIRIAM T KULNIS 35.00 0.00 X 176436 0 7282 THOMAS P MCGRATH 17.80 17.20 X 168959 52980 47521 DOUGLAS L OLCOTT 35.00 0.00 X 165960 0 43467 NICHOLAS V PETRAGNANI JR 35.00 0.00 X 147247 0 38066 ROBERT L RIGGS 35.00 0.00 X 186658 0 45855 DAVID ROTHBERG 22.70 12.30 X 66800 35969 5706 ALEXANDRA M SEWELL 35.00 0.00 X 73905 0 250 MICHAEL A WALSH 35.00 0.00 X 212038 0 19050 BARBARA A BAER 35.00 0.00 X 60284 0 2554 MARY LYNN BRADLEY 35.00 0.00 X 47502 0 2822 CLARE R CASHELL 29.40 5.60 X 77337 14625 9449 TRACY M CONLEY 35.00 0.00 X 77565 0 11459 MELANIE A CROCCO 35.00 0.00 X 88949 0 25305 ANDREW J D'AGOSTINO 35.00 0.00 X 89890 0 19043 JAIME SHARROCK 24.90 10.10 X 86423 34872 17705 CECELIA ELLEN DOYLE 29.50 5.50 X 86945 16195 10137 JEFFREY B ELY 29.50 5.50 X 35417 6597 2169 OKSANA GABER 35.00 0.00 X 94441 0 36159 ANDREA D GLADSTONE 35.00 0.00 X 149646 0 41654 SUSAN L GOLDBERGER 35.00 0.00 X 65440 0 1275 RENEE JIN 3.90 31.10 X 15750 124252 31923 PATRICK B LOCKHART 28.00 7.00 X 124580 31145 35793 SUSAN C MCCLURE 29.40 5.60 X 201168 38042 56950 CHRISTOPHER D O'KEEFE 29.40 5.60 X 153997 29122 29708 FL ANDREW PADIAN 35.00 0.00 X 132881 0 33116 HELENE S RUDOLPH 35.00 0.00 X 162999 0 39078 MARY SCHOUENBORG-PADEN 35.00 0.00 X 120815 0 28933 DANIEL J WHEELER 35.00 0.00 X 142449 0 37743 WILLIAM A BURKE 21.20 13.80 X 155757 101893 35725 THERESA CROTTY 35.00 0.00 X 140283 0 21860 SUSAN M POLLOCK 0.00 35.00 X 0 255417 36798 LEON SHNAYDER 29.40 5.60 X 108011 20426 34648 DEBORAH A WIDERKEHR 8.40 26.60 X 40109 127040 24650 KATHLEEN A DUNN 0.30 34.70 X 4298 453108 27289 FRANK CREAMER 35.00 0.00 X 417947 0 577 MICHAEL D LAPPIN 35.00 0.00 X 1021175 0 3823 JOHN M MCCARTHY 35.00 0.00 X 513982 0 3123 8251712 1821339 1301264 35 1 1 0 CAPSTONE ADVISORY GROUP LLC 250 PEHLE AVENUE SADDLE BROOK NJ 07663 CONSULTING 2591149 KPMG LLP PO BOX 120001 DALLAS TX 75312 AUDITORS 1062500 IBM CORPORATION PO BOX 643600 PITTSBURGH PA 15264 INFORMATION TECHNOLOGY 878933 SIMPSON THACHER & BARTLETT LLC 425 LEXINGTON AVENUE NEW YORK NY 10017 LEGAL 757680 KIRKLAND & ELLIS LLP 601 LEXINGTON AVENUE NEW YORK NY 10022 LEGAL 751235 12 850 850 MORTGAGE LOAN INTEREST 522292 27935654 27935654 SERVICING FEES 522390 7016132 7016132 MORTGAGE LOAN COMMITMENT FEES 522292 2195467 2195467 GAIN ON SALE OF LOANS 522292 1819164 1819164 PENALTY & LATE CHARGES 522390 1758849 1758849 45160 45160 40770426 205655 205655 185920 185920 0 4649576 4059520 590056 590056 590056 41566987 41566137 0 0 3000 3000 6407500 3898994 2508506 4375524 3123901 1251623 398257 295750 102507 499484 377461 122023 737599 500518 237081 749206 749206 760017 760017 14107 14107 1158272 393181 765091 112383 3595 108788 547173 294029 253144 873887 639084 234803 1728965 1170249 558716 204970 138734 66236 30846 20878 9968 23298557 23298557 2283364 1986611 296753 421243 421243 OTHER LOAN-RELATED EXPE 1966822 1966822 LOAN LOSS RESERVE INCRE 1074210 1074210 REO PROPERTY EXPENSES 532602 532602 UNRELATED BUSINESS INCO 9248 9248 319243 134418 184825 48506479 39866701 8639778 0 205986458 170881465 78213872 63486684 1760323 1251418 506331 544200 7583563 4292857 4301942 3290706 32239362 44175157 792901938 492817592 9395889 11842000 27482304 16545502 1152788419 804834724 6792663 4668201 210339421 189453500 494407921 332898697 370609786 200028335 29618585 24625254 1111768376 751673987 X 41020043 53160737 41020043 53160737 1152788419 804834724 X -6939492 1992000 17088186 X X 0 1 X 1 0 X 31010 58843 2682766 2259072 850 5032541 76002911 73727524 66992996 49454141 40770426 306947998 76033921 73786367 69675762 51713213 40771276 311980539 0 3087200 4109666 1258689 1304450 631491 10391496 3087200 4109666 1258689 1304450 631491 10391496 301589043 187866 44253 336178 178108 205655 952060 187866 44253 336178 178108 205655 952060 76221787 73830620 70011940 51891321 40976931 312932599 0.96380 0.95870 0.00300 0.00500 X 0 1 0 1 10000 0 0 1 165000 0 0 175000 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: LOBBYING IS NOT A SUBSTANTIAL PART OF THE ACTIVITIES OF THE CORPORATION. DURING THE FISCAL YEAR ENDED JUNE 30, 2013, OFFICERS OF THE CORPORATION DID LOBBY WITH RESPECT TO FEDERAL, STATE, AND LOCAL LEGISLATION RELATING TO AFFORDABLE HOUSING ISSUES, AND THE CORPORATION, FOR PART OF THE YEAR, RETAINED THE SERVICES OF LEGAL COUNSEL TO REPRESENT ITS INTERESTS WITH RESPECT TO LEGISLATION. DIRECT LOBBYING EXPENSES OF THIS NATURE FOR THE FISCAL YEAR ENDED JUNE 30, 2013, TOTALED LESS THAN $15,000. LOBBYING EXPENSES OF CORPORATION OFFICERS FOR THE PERIOD (INCLUDING REIMBURSEMENT OF TRAVEL EXPENSES AND A PER HOUR PRORATION OF OFFICERS' SALARIES) ARE ESTIMATED TO HAVE BEEN LESS THAN $150,000 AND EXPENSES FOR MAILINGS ARE ESTIMATED AT LESS THAN $10,000. THE CORPORATION'S TOTAL LOBBYING EXPENDITURES FOR THE FISCAL YEAR ENDED JUNE 30, 2013, ARE THEREFORE ESTIMATED TO HAVE BEEN LESS THAN $175,000. 0 1 X 74891 68346 6545 533890 417965 115925 6974782 3806546 3168236 3290706 CPC RESOURCES INC & CPC NOMINEE 1 INC 44175157 C 44175157 CONSTRUCTION LOANS 146274726 C CONSTRUCTION LOAN PARTICIPATIONS 164028394 C PERMANENT MORTGAGE LOANS 23388541 C PERMANENT LOAN PARTICIPATIONS 159125931 C 492817592 DUE TO PARTICIPANTS 24625254 24625254 X 85798739 56421197 56421197 29377542 12189445 12189445 41566987 75650045 39333011 39333011 36317034 12189445 12189445 48506479 PART IV, LINE 2B: THE CORPORATION MAKES CONSTRUCTION LOANS AND PERMANENT MORTGAGE LOANS TO BORROWERS FOR LOW AND MODERATE INCOME HOUSING. IN CONJUNCTION WITH THOSE LOANS, THE CORPORATION HOLDS BORROWER FUNDS IN ESCROW FOR THE PAYMENT OF REAL ESTATE TAXES, PROPERTY INSURANCE PREMIUMS, INSPECTION FEES, AND OTHER LOAN-RELATED ITEMS. IN ADDITION, THE CORPORATION HOLDS FUNDS BELONGING TO NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT AND CERTAIN OTHER GOVERNMENT AGENCIES, WHICH PARTICIPATE IN CERTAIN OF THE CORPORATION'S LOANS, FOR FUTURE LOAN ADVANCES TO BORROWERS ON BEHALF OF THOSE AGENCIES. AT JUNE 30, 2013, THE CORPORATION HELD APPROXIMATELY $127 MILLION OF BORROWER ESCROW FUNDS AND APPROXIMATELY $63 MILLION OF GOVERNMENT AGENCY FUNDS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE CORPORATION USES A MORE-LIKELY THAN NOT THRESHOLD FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR TO BE TAKEN IN A TAX RETURN. IN ACCORDANCE WITH THE ACCOUNTING GUIDANCE ON THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE CORPORATION ASSESSED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS AS OF JUNE 30, 2013, WHICH ARE FROM JULY 1, 2009 THROUGH JUNE 30, 2012. THE CORPORATION CONCLUDED THAT IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS TO BE RECOGNIZED AT THIS TIME. IF THERE ARE INTEREST AND PENALTIES ON TAX POSITIONS, THE CORPORATION'S POLICY IS TO CLASSIFY THESE AS GENERAL AND ADMINISTRATIVE EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCOME OF NON-EXEMPT SUBSIDIARIES INCLUDED IN CONSOLIDATED AUDIT 56,421,197. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS UNREALIZED LOSS ON FMV OF LOANS 9,176,000. RECLASS FAIR VALUE ADJUSTMENT - REO 1,648,391. RECLASS FAIR VALUE ADJUSTMENT - MSR 1,365,054. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF NON-EXEMPT SUBSIDIARIES INCLUDED IN CONSOLIDATED AUDIT 39,333,011. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS UNREALIZED LOSS ON FMV OF LOANS 9,176,000. RECLASS FAIR VALUE ADJUSTMENT - REO 1,648,391. RECLASS FAIR VALUE ADJUSTMENT - MSR 1,365,054. 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE CORPORATION MAKES GRANTS FROM ITS OWN FUNDS FROM TIME TO TIME TO NON-PROFITS WITH WHICH THE CORPORATION COLLABORATES IN CARRYING OUT ITS TAX-EXEMPT PURPOSES. EXAMPLES INCLUDE THE NEW YORK HOUSING CONFERENCE, THE NATIONAL ASSOCIATION OF AFFORDABLE HOUSING LENDERS, THE CITIZENS HOUSING AND PLANNING COUNCIL, AMONG MANY OTHERS. THE GRANTS ARE RELATIVELY MODEST IN AMOUNT, AND HELP MEET THE OPERATING BUDGETS OF THE GRANTEES. THE CORPORATION ALSO DEPLOYS FUNDS AWARDED TO IT IN THE EARLY 2000'S UNDER THE U.S. TREASURY'S COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI) PROGRAM. THE CORPORATION'S AWARDS FROM CDFI TOTALED $5,000,000 OVER THE COURSE OF THE PROGRAM, AND WERE EXPENDED IN GRANTS AND LOANS TO PROPERTIES IN TARGET AREAS WHERE THE CORPORATION WAS ALSO AN ACTIVE LENDER. THE PURPOSES, AMOUNTS, AND PROPERTIES WERE IDENTIFIED IN REGULAR REPORTS SUBMITTED TO THE U.S. TREASURY DURING THE AWARDS' REQUIRED REPORTING PERIOD, WHICH HAS NOW EXPIRED. WHEN FUNDS FROM THE ORIGINAL CDFI GRANTS WERE DISBURSED AS LOANS ON INDIVIDUAL PROPERTIES, AND THOSE LOANS WERE SUBSEQUENTLY REPAID, THE CORPORATION HAS RE-DEPLOYED THE FUNDS FOR COMMUNITY DEVELOPMENT PURPOSES. THE CORPORATION ALSO MAKES PASS-THROUGH GRANTS UNDER A NEW YORK STATE WEATHERIZATION ASSISTANCE PROGRAM. X X X X X 1 1 1 0 0 0 0 0 0 RAFAEL E CESTERO 195644 111249 175313 99688 11608 6601 2838 1614 13675 7776 399078 226928 0 0 SADIE MCKEOWN 226972 0 0 0 17348 0 34125 0 32073 0 310518 0 0 0 KEVIN T MORAN 198656 42148 0 0 14724 3124 15434 3275 14878 3157 243692 51704 0 0 RICHARD A KUMRO 121509 134300 0 0 11377 12575 17784 19656 10100 11163 160770 177694 0 0 CAROLYN AU 212086 0 0 0 3037 0 23297 0 15373 0 253793 0 0 0 CHRISTOPHER P BETTS 102698 0 0 0 27318 0 11700 0 12775 0 154491 0 0 0 RICHARD P CONLEY 206828 0 0 0 19250 0 29900 0 19312 0 275290 0 0 0 BRUCE S DALE 163809 0 0 0 31350 0 20383 0 29263 0 244805 0 0 0 ALICE J DUNN 115862 21581 0 0 259790 48390 15507 2888 3343 623 394502 73482 0 0 CHRISTOPHER R HOOKE 143652 0 6128 0 6926 0 17906 0 18399 0 193011 0 0 0 DIANNA LOOK 88607 0 0 0 212177 0 12350 0 12032 0 325166 0 0 0 MIRIAM T KULNIS 161429 0 0 0 15007 0 1563 0 5719 0 183718 0 0 0 THOMAS P MCGRATH 150793 47059 0 0 18166 5921 22501 7139 12645 5236 204105 65355 0 0 DOUGLAS L OLCOTT 142148 0 0 0 23812 0 22432 0 21035 0 209427 0 0 0 NICHOLAS V PETRAGNANI JR 138736 0 0 0 8511 0 19031 0 19035 0 185313 0 0 0 ROBERT L RIGGS 169054 0 0 0 17604 0 25145 0 20710 0 232513 0 0 0 MICHAEL A WALSH 134109 0 0 0 77929 0 3438 0 15612 0 231088 0 0 0 ANDREA D GLADSTONE 144084 0 0 0 5562 0 18429 0 23225 0 191300 0 0 0 RENEE JIN 13822 109044 0 0 1928 15208 2096 16536 1495 11796 19341 152584 0 0 PATRICK B LOCKHART 109149 27287 0 0 15431 3858 16565 4141 12070 3017 153215 38303 0 0 SUSAN C MCCLURE 179286 33904 0 0 21882 4138 27025 5111 20868 3946 249061 47099 0 0 CHRISTOPHER D O'KEEFE 139579 26395 0 0 14418 2727 18764 3548 6220 1176 178981 33846 0 0 FL ANDREW PADIAN 124607 0 0 0 8274 0 17688 0 15428 0 165997 0 0 0 HELENE S RUDOLPH 146482 0 0 0 16517 0 22168 0 16910 0 202077 0 0 0 DANIEL J WHEELER 132899 0 0 0 9550 0 19133 0 18610 0 180192 0 0 0 WILLIAM A BURKE 140704 92046 0 0 15053 9847 20237 13238 1360 890 177354 116021 0 0 THERESA CROTTY 122619 0 0 0 17664 0 15553 0 6307 0 162143 0 0 0 SUSAN M POLLOCK 0 200874 0 0 0 54543 0 15535 0 21263 0 292215 0 0 LEON SHNAYDER 107832 20392 0 0 179 34 11448 2165 17690 3345 137149 25936 0 0 DEBORAH A WIDERKEHR 34240 108450 0 0 5869 18590 5241 16599 674 2136 46024 145775 0 0 KATHLEEN A DUNN 1210 127600 0 0 3088 325508 177 18673 79 8360 4554 480141 0 0 FRANK CREAMER 82595 0 0 0 335352 0 0 0 577 0 418524 0 0 0 MICHAEL D LAPPIN 19796 0 0 0 1001379 0 2604 0 1219 0 1024998 0 0 0 JOHN M MCCARTHY 13619 0 0 0 500363 0 1977 0 1146 0 517105 0 0 0 PART I, LINES 4A-C SCHEDULE J, LINE 4A - SEVERANCE PAYMENTS: FROM THE FROM RELATED ORGANIZATION ORGANIZATION BARBARA A BAER 38,538 - MARY LYNN BRADELY 26,596 - CLARE R CASHELL 49,449 9,351 FRANK CREAMER 329,231 - CECELIA ELLEN DOYLE 13,909 2,591 ALICE J DUNN 238,563 44,437 KATHLEEN A DUNN 2,725 287,275 MICHAEL D LAPPIN 993,478 - DIANNA LOOK 190,000 - JOHN M MCCARTHY 496,679 - MICHAEL A WALSH 63,462 - VARIOUS DIRECTORS DIRECTORS ABOUT HALF OF THE CORPORATION'S DIRECTORS AT ANY GIVEN TIME ARE INCUMBENT SENIOR OFFICIALS OF FINANCIAL INSTITUTIONS THAT ARE MEMBERS OF, PROVIDE CREDIT TO, AND/OR HAVE TRANSACTIONS WITH THE CORPORATION IN THE ORDINARY COURSE OF BUSINESS, SUCH AS PURCHASING LOAN PARTICIPATIONS. IN ADDITION, IN 2008 A LOAN FUND MANAGED BY ONE OF THE DIRECTORS OF THE CORPORATION AND OF ITS SUBSIDIARY, CPC RESOURCES INC., LOANED FUNDS TO THE SUBSIDIARY. THAT LOAN WAS REPAID IN 2012. 0 FORM 990, PART VI, SECTION A, LINE 2 CHRISTOPHER O'KEEFE IS THE NEPHEW OF KATHLEEN A. DUNN. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS FOUR CLASSES OF MEMBERS: CLASS A CONSISTS OF FOUNDING COMMERCIAL BANKS AND IS A CLOSED CLASS; CLASS B CONSISTS SOLELY OF THE NEW YORK STATE BANKERS ASSOCIATION; CLASS C CONSISTS OF LIFE INSURANCE COMPANIES; CLASS D CONSISTS OF FINANCIAL INSTITUTIONS AND OTHERS THAT DO NOT FIT WITHIN THE OTHER THREE CLASSES. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBERSHIP CLASS HAS THE RIGHT TO VOTE FOR TWO OF THE CORPORATION'S DIRECTORS (THE REMAINDER OF THE BOARD BEING ELECTED AT-LARGE BY THE BOARD ITSELF), AND UNDER NEW YORK LAW THE MEMBERS ALSO HAVE CERTAIN RIGHTS TO VOTE ON MAJOR ISSUES SUCH AS MERGERS AND DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7B UNDER NEW YORK LAW, THE MEMBERS HAVE CERTAIN RIGHTS TO VOTE ON MAJOR ISSUES SUCH AS MERGERS AND DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING, A DRAFT COPY OF FORM 990 WAS REVIEWED FOR COMPLETENESS AND ACCURACY BY MEMBERS OF THE CORPORATION'S MANAGMENT AND WAS ALSO SUPPLIED TO THE COMPENSATION COMMITTEE OF THE CORPORATION'S BOARD OF DIRECTORS FOR COMMENT. THE FINAL REVIEWED VERSION OF FORM 990 WAS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO THE FORM'S ELECTRONIC FILING. FORM 990, PART VI, SECTION B, LINE 12C RESPONSES ARE REVIEWED BY THE ORGANIZATION'S INDEPENDENT AUDITORS AS PART OF THE ANNUAL FINANICAL AUDIT. FORM 990, PART VI, SECTION B, LINE 15 EACH YEAR, THE CORPORATION PARTICIPATES IN MARKET SURVEYS RELEVANT TO THE COMMERCIAL REAL ESTATE FINANCIAL SERVICES INDUSTRY. THE CORPORATION BENCHMARKS ITS TOTAL COMPENSATION AGAINST COMPARABLE JOBS FOUND IN RELEVANT SURVEYS (MCLAGAN AND TOWERS WATSON). THE PEER INSTITUIONS USED AS BENCHMARKS ARE THOSE FOUND IN THE MCLAGAN MARKET SURVEY (INCLUDING OVER 100 PARTICIPANTS, INCLUDING BANKS, INSURANCE COMPANIES, ETC.). THE CORPORATION'S COMPENSATION COMMITTEE, COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS, REVIEW AND APPROVE ANNUALLY THE RECOMMENDED COMPENSATION (SALARY, ANNUAL BONUS, LONG-TERM INCENTIVE PLAN, AND EXECUTIVE RETIREMENT PLAN) FOR THE CORPORATION'S SENIOR MANAGEMENT TEAM AND TOP 25 EMPLOYEES. THE COMPENSATION COMMITTEE REVIEWS AND APPROVES THE OVERALL AMOUNTS OF SALARIES AND BONUS AWARDS BEFORE RECOMMENDATIONS ARE MADE BASED ON MARKET DATA, BUSINESS CONDITIONS AND THE OVERALL COMPETITIVE MARKETPLACE. THE CORPORATION'S BOARD OF DIRECTORS THEN REVIEWS AND APPROVES ALL COMPENSATION RECOMMENDATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE CORPORATION'S CHARTER IS A PUBLIC DOCUMENT AVAILABLE FROM THE NEW YORK SECRETARY OF STATE. A SUMMARY OF THE CORPORATION'S AUDITED FINANCIAL STATEMENTS IS INCLUDED EACH YEAR IN THE CORPORATION'S ANNUAL REPORT, WHICH IS AVAILABLE ON THE CORPORATION'S WEBSITE, AND THE FULL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. THE CORPORATION'S BY-LAWS, CONFLICT OF INTEREST POLICY AND SIMILAR DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC BUT ARE AVAILABLE TO THE CORPORATION'S MEMBERS UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: EQUITY IN NON-EXEMPT SUBSIDIARIES 17,088,186. FORM 990, PART XI, LINE 2: THE CORPORATION HAS HAD NO CHANGE FROM THE PRIOR YEAR IN THE PROCESS FOR SELECTION OF AUDITOR OR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. CPC REO LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION CPC REO NJ LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION CPC REO CT LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION CPC FUNDING SPE 1 LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 79544 498092 THE COMMUNITY PRESERVATION CORPORATION CPC FUNDING SPE 2 LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 3934 WAYNE HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 3979 ROUTE 343 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 4143 HAYWARD HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 4167 MAIN STREET HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 4173 MUNN AVENUE HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 4196 KENNEDY BLVD LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 1650000 THE COMMUNITY PRESERVATION CORPORATION 7786 MADISON AVE LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 295608 THE COMMUNITY PRESERVATION CORPORATION 7840 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 60000 THE COMMUNITY PRESERVATION CORPORATION 7861 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 153690 THE COMMUNITY PRESERVATION CORPORATION 7862 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 245152 THE COMMUNITY PRESERVATION CORPORATION 10265 ROBBINS HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 10302 SARATOGA HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 10396 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 200000 THE COMMUNITY PRESERVATION CORPORATION 10500 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 286846 0 THE COMMUNITY PRESERVATION CORPORATION 10530 SPRING STREET HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 2660000 THE COMMUNITY PRESERVATION CORPORATION 10715 PLEASANT RIDGE HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 50000 THE COMMUNITY PRESERVATION CORPORATION 48050 KENNEDY HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 86654 THE COMMUNITY PRESERVATION CORPORATION 48052 LAPIERRE HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 25632 THE COMMUNITY PRESERVATION CORPORATION 48053 LAPIERRE HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 27378 THE COMMUNITY PRESERVATION CORPORATION 48150 BOXWOOD HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 48152 CHESTNUT HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 625 THE COMMUNITY PRESERVATION CORPORATION 70045 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 70057 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 17793 0 THE COMMUNITY PRESERVATION CORPORATION 70131 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 59220 THE COMMUNITY PRESERVATION CORPORATION 70136 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 65000 THE COMMUNITY PRESERVATION CORPORATION 70164 APPLE STREET HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION 70202 CLINTON HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 32979 THE COMMUNITY PRESERVATION CORPORATION 70223 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 12442 0 THE COMMUNITY PRESERVATION CORPORATION 90003 LAFAYETTE HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 238760 THE COMMUNITY PRESERVATION CORPORATION 90011 BROAD HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 437100 THE COMMUNITY PRESERVATION CORPORATION 90012 HOLDINGS LLC 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 10016 132792409 TITLEHOLDER NY 0 0 THE COMMUNITY PRESERVATION CORPORATION CPC RESOURCES INC 28 EAST 28TH STREET NEW YORK NY 10016 133692436 INVESTMENT, CONSULTING, REAL ESTATE DEVELOPMENT NY THE COMMUNITY PRESERVATION CORPORATION C 12654626 105455442 1.00000 1 CPC NOMINEE 1 INC 28 EAST 28TH STREET NEW YORK NY 10016 133947975 REAL ESTATE NOMINEE NY THE COMMUNITY PRESERVATION CORPORATION C 25572 1595893 1.00000 1 1 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 1 0 CPC RESOURCES INC A 313350 CASH CPC RESOURCES INC D 11344503 CASH CPC RESOURCES INC J 185920 CASH CPC RESOURCES INC N 646080 CASH CPC RESOURCES INC O 3119741 CASH CPC RESOURCES INC Q 3951741 CASH CPC RESOURCES INC R 5152392 CASH