2013-11-11T08:32:55-06:00 2013-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2012-07-01 222524015 NEW HAMPSHIRE COMMUNITY LOAN FUND INC NEWH 6032246669 7 WALL STREET CONCORD NH 03301 JULIANA EADES 6032246669 2013-11-01 1 THOMAS WASHBURN CPA P00537319 5083669100 2013-10-25 2012 2016-02-24 21:20:13Z JULIANA EADES 7 WALL STREET CONCORD NH 03301 10720834 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 HOUSING, 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. 14 13 58 33 0 0 4203462 4680786 4813074 5185291 134314 71473 0 508866 9150850 10446416 1757352 2119978 0 0 3746768 3918190 0 0 157680 4372298 3475942 9876418 9514110 -725568 932306 83468454 87926503 63794046 67575165 19674408 20351338 X TO SERVE AS A CATALYST, LEVERAGING FINANCIAL, HUMAN AND CIVIC RESOURCES TO ENABLE TRADITIONALLY UNDERSERVED PEOPLE TO ATTAIN AFFORDABLE HOUSING, 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, 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 5219195 2104595 5191460 AFFORDABLE HOUSING - SEE SCHEDULE O 2476888 0 0 CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O 725544 0 418027 ECONOMIC OPPORTUNITY - SEE SCHEDULE O 158788 15383 312737 SINCE 1984, OUR COMMUNITY FACILITIES FINANCING HAS SUPPORTED ESSENTIAL SERVICES, WITH A SPECIAL FOCUS ON NONPROFIT AND HOME-BASED CHILD DEVELOPMENT SERVICES, BY HELPING NONPROFIT ORGANIZATIONS BUY, RENOVATE, OR BUILD FACILITIES.IN FISCAL YEAR 13, THE COMMUNITY LOAN FUND MADE TWO COMMUNITY FACILITIES LOANS TOTALING $103,000, SUPPORTING 36 JOBS AND CREATING OR PRESERVING 203 CHILD CARE SPACES AND MORE THAN 15,000 SQUARE FEET OF SPACE.ONE LOAN WAS TO THE KINGSTON CHILDREN'S CENTER, WHICH HAS PROVIDED FOR 41 YEARS FOR THE EARLY EDUCATION NEEDS OF ITS COMMUNITY, REGARDLESS OF CHILDREN'S ABILITIES AND FAMILIES' INCOME AND NON-TRADITIONAL SCHEDULES. ALMOST ALL OF ITS CHILDREN ARE FROM WORKING FAMILIES, FOR WHOM PRESCHOOL EDUCATION AND CHILD CARE ARE ESSENTIAL. WHEN THE CHILDREN'S CENTER BADLY NEEDED TO INSULATE AND RESHINGLE ITS 130-YEAR-OLD WALLS, A HANDFUL OF LOCAL BUSINESSES CONTRIBUTED CASH AND VOLUNTEERS. THE COMMUNITY LOAN FUND FOUND AN ENERGY-EFFICIENCY GRANT AND MADE A LOAN TO COMPLETE THE PROJECT.THE WORK WAS FINISHED IN LATE WINTER AND ITS BENEFITS WERE FELT IMMEDIATELY. PREVIOUSLY DRAFTY ROOMS WERE WARM AND COMFORTABLE. THE OIL FURNACE AND THE AIR CONDITIONING DON'T COME ON NEARLY AS OFTEN A BIG FACTOR IN KEEPING TUITION AFFORDABLE. 158788 15383 312737 8580415 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 1 388 0 1 58 1 0 0 0 0 0 0 0 0 0 0 X 14 13 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 1.00 X X 0 0 0 JOHN FLANDERS 1.00 X 0 0 0 RAY GIROUX 1.00 X X 0 0 0 CHRISTINA HILL 1.00 X 0 0 0 LAURA JAMISON 1.00 X 0 0 0 SARA VARELA 1.00 X 0 0 0 DEBORAH MILLER 1.00 X X 0 0 0 LOIS PARRIS 1.00 X X 0 0 0 PAULA ROGERS 1.00 X X 0 0 0 RANDY ROODY 1.00 X X 0 0 0 MICHAEL SWACK 1.00 X 0 0 0 EDWARD TOMEY 1.00 X 0 0 0 JULIANA EADES 40.00 X X 115988 0 18821 TOM BUNNELL 1.00 X 0 0 0 DAN MULLER 1.00 X 0 0 0 PAUL SPANG 1.00 X 0 0 0 BONNIE SCADOVA 40.00 X 95134 0 17087 211122 0 35908 1 0 0 0 0 3166042 1514744 542389 4680786 INTEREST FROM LOANS 531390 4918362 4918362 TRAINING, LOAN AND OTHER FEE 531390 166753 166753 RENTAL INCOME 531120 100176 100176 5185291 142090 142090 203801 274418 -70617 -70617 -70617 LOAN LOSS RECOVERY 900099 508866 508866 508866 10446416 5623540 0 142090 1574951 1574951 545027 545027 254021 160733 62691 30597 2948578 2620632 237480 90466 78321 69829 6148 2344 375420 251124 118412 5884 261850 227003 25270 9577 14119 14076 43 48145 32097 14965 1083 6041 6041 291785 220204 66865 4716 28338 28338 297596 251008 42818 3770 67313 52879 13427 1007 112359 57303 52809 2247 112653 105067 7089 497 27362 22653 4655 54 2104941 2104941 189511 108906 77315 3290 81675 42442 37632 1601 PROPERTY EXPENSES 55759 55759 TRAINING 38345 29402 8439 504 9514110 8580415 776015 157680 9780430 11096742 930224 596966 327358 476316 26491 42019 5693710 1180592 4584672 4513118 7568665 6294254 60169313 64801482 81301 105606 83468454 87926503 1507220 1630197 1211551 771428 51475275 57073540 9600000 8100000 63794046 67575165 X 7747227 8849460 4234600 4048293 7692581 7453585 19674408 20351338 83468454 87926503 932306 -255376 0 X X 0 1 X 1 1 1 X 5375662 3452998 7474108 4203462 4680786 25187016 5375662 3452998 7474108 4203462 4680786 25187016 2408081 22778935 191293 145285 146943 151560 142090 777171 11623 1602 557 13782 25977969 18003889 0.87690 0.87100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 932 5109 6041 9810934 9816975 640849 160212 0 0 524733 715850 643821 640849 2525253 3787880 15876 9977 5563 6041 37457 131183 178963 160955 160212 631313 946970 409 191 930 932 2462 321461 321461 4709502 722754 3986748 647177 457838 189339 15570 15570 4513118 LOANS RECEIVABLE 62815425 F ROC USA 1520592 F OTHER PROGRAM-RELATED EQUITY INVESTMENTS 465465 F 64801482 EQUITY EQUIVALENTS PAYABLE 8100000 8100000 X 6038626 -255376 72505 -4224919 -4407790 10446416 0 10446416 5361696 72505 72505 5289191 4224919 4224919 9514110 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COMMUNITY LOAN FUND FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD, WHICH REQUIRES THE COMMUNITY LOAN FUND TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF JUNE 30, 2013, THE COMMUNITY LOAN FUND DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT. THE COMMUNITY LOAN FUND DOES NOT EXPECT THAT THE AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT TWELVE MONTHS. INFORMATION RETURNS FILED FOR THE PRIOR THREE YEARS REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE STATE OF NEW HAMPSHIRE. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST EXPENSE -2,104,941. PASS THROUGH GRANTS TO OTHERS -2,119,978. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,104,941. PASS THROUGH GRANTS TO OTHERS 2,119,978. 1 COMMUNITY ACTION PROGRAM BELKNAP-MERRIMACK COUNTIES INC PO BOX 1016 2 INDUSTRIAL PARK DRIVE DRIVE CONCORD NH 03302 020270376 501C3 1559568 CASH WEATHERIZATION CHILD DEVELOPMENT COUNCIL DBA KINGSTON CHILDREN'S CENTER 12 CHURCH ST KINGSTON NH 03848 237173500 501C3 15383 CASH ENERGY EFFICIENT IMPROVEMENTS IDA MATCHED SAVINGS GRANTS 77 368101 MANUFACTURED HOUSING INFILL GRANTS 13 176926 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 10 93522 FAIR MARKET VALUE X NON-CASH GRANTS INCENTIVE TO PAY BACK LOAN BEFORE 1 400000 FAIR MARKET VALUE X NON-CASH GRANTS CONVERTED FROM LOANS PAYABLE BY DO 7 48867 FAIR MARKET VALUE 0 1 0 PROGRAM SERVICE STATEMENT FORM 990, PT. III, LINE 4A FOUR COMMUNITY LOAN FUND PROGRAMS ADDRESS NEW HAMPSHIRE'S NEED FOR HOUSING FOR WORKING FAMILIES AND FOR FAMILIES WITH LOW INCOMES. 1. ROC-NH PROVIDES LOANS, ALONG WITH EDUCATIONAL AND TECHNICAL SUPPORT, TO BUILD LONG-TERM VALUE AND SECURITY FOR RESIDENTS OF NEW HAMPSHIRE'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, 2013, 105 RESIDENT-OWNED COMMUNITIES IN NEW HAMPSHIRE WERE HOME TO 5,750 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2013, THE COMMUNITY LOAN FUND, THROUGH ROC-NH, MADE 18 LOANS TOTALING $10,067,000. IN DOING SO, IT PRESERVED 96 HOUSING UNITS AND PROVIDED 20,248 HOURS OF TECHNICAL ASSISTANCE TO RESIDENT-OWNED COMMUNITIES. IN MAY 2013, THE RESIDENTS OF SILVER FOX ESTATES IN PEMBROKE, N.H. SAW THREE YEARS OF WORK PAY OFF WHEN THEY PURCHASED THEIR 21-UNIT COMMUNITY. SILVER FOX HOMEOWNERS COOPERATIVE BECAME NEW HAMPSHIRE'S 105TH RESIDENT-OWNED MANUFACTURED-HOME COMMUNITY. USING FUNDING, EDUCATION AND TECHNICAL ASSISTANCE AND TRAINING FROM THE NEW HAMPSHIRE COMMUNITY LOAN FUND, RESIDENTS HAD ORGANIZED AND FORMED THE COOPERATIVE IN NOVEMBER 2010 IN ORDER TO CONVERT THEIR PRIVATELY OWNED PARK TO RESIDENT OWNERSHIP. THE COOPERATIVE THEN NEGOTIATED FOR THE FINAL PURCHASE PRICE OF $675,000 BEFORE FINALIZING THE DEAL WITH A MORTGAGE FROM THE COMMUNITY LOAN FUND. "NOW THE MEMBERS OF THE COMMUNITY CAN LOOK FORWARD TO MAKING THE NECESSARY UPGRADES TO HAVE A HOME OF WHICH WE CAN BE PROUD", SAID CO-OP PRESIDENT. 2. BECAUSE THEY ARE RELATIVELY AFFORDABLE AND AVAILABLE IN RURAL COMMUNITIES, MANUFACTURED HOMES ARE, FOR SOME NEW HAMPSHIRE FAMILIES, THE HOUSING OPTION OF LAST RESORT. THEY ALSO PROVIDE AN AFFORDABLE OPTION FOR ELDER 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 DON'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 NEARLY $30 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 1.88 PERCENT. DURING FY 13, WELCOME HOME LOANS PROVIDED $5 MILLION IN FINANCING TO 109 HOMEOWNERS. EIGHTY-FOUR HOMEOWNERS WERE IN 48 RESIDENT-OWNED COMMUNITIES, 25 ON THEIR OWN LAND. 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. WE WERE CONTACTED BY A WOMAN WHO SURVIVED DOMESTIC ABUSE SO SEVERE THAT SHE HAD BEEN HOSPITALIZED, HAD LOST MUCH OF HER HEARING AND HAD A DAMAGED JAW AND MISSING TEETH. SHE WAS EVEN HOMELESS FOR A BRIEF TIME BEFORE BEING TAKEN IN AT A LOCAL SHELTER. BECAUSE HER EX-HUSBAND HADN'T ALLOWED HER TO HAVE ANY SAVINGS, CREDIT CARDS, OR LOANS IN HER NAME, SHE HAD NO CREDIT WITH WHICH TO BUY A HOME. WHEN SHE APPLIED FOR A WELCOME HOME LOAN TO BUY A MANUFACTURED HOME IN ONE OF NEW HAMPSHIRE'S 105 RESIDENT-OWNED COMMUNITIES, SHE WAS ABLE TO SHOW THAT SHE HAD PAID HER UTILITY BILLS ON TIME FOR THE PREVIOUS YEAR. SHE RECEIVED A WELCOME HOME LOAN BASED ON THAT PAYMENT RECORD. SHE HAS MADE EVERY MORTGAGE PAYMENT ON TIME. AS A HOMEOWNER, SHE'S PAYING $175 A MONTH LESS FOR HER MORTGAGE THAN SHE DID TO RENT HER APARTMENT. 3. THE COMMUNITY HOUSING PROGRAM EXPANDS NEW HAMPSHIRE'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, COMMUNITY HOUSING HAS 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. ALTHOUGH THE PROGRAM'S MOST-CRITICAL FUNCTION IS FILLING FINANCING GAPS, IT ALSO ADVOCATES FOR LOW-INCOME HOUSEHOLDS ON HOUSING-RELATED POLICY ISSUES AND IS A LEADING MEMBER OF A STATEWIDE ADVOCACY COALITION, ONE OF MANY COLLABORATIONS IT HAS HELPED CREATE. THE GILE HILL HOUSING DEVELOPMENT IN HANOVER, N.H. WAS CALLED "MONUMENTAL", "PIONEERING", AND "THE MOST IMPORTANT AFFORDABLE HOUSING PROJECT IN NEW ENGLAND." IN A COMMUNITY WHERE RENTAL APARTMENTS ARE BOTH SCARCE AND PRICEY, TWIN PINES HOUSING TRUST, A NONPROFIT HOUSING DEVELOPER, PLANNED TO BUILD 120 RENTALS AND CONDOMINIUMS. HALF WOULD BE AFFORDABLE FOR WORKING FAMILIES, AND THE "GREEN" HOUSING, BUILT TO ENERGY STAR STANDARDS, WAS LOCATED ON A REGIONAL BUS ROUTE AND WITHIN AN EASY WALK OR BIKE RIDE OF THE AREA'S LARGEST EMPLOYER. THE COMMUNITY LOAN FUND MADE A LOAN TO LAUNCH THE PROJECT, THEN TO BRIDGE A CONSTRUCTION FINANCING SHORTFALL. WHEN THE RECESSION HIT, CONDO SALES SLOWED TO A CRAWL AND PRICES DIPPED. THE PROJECT'S OTHER MAJOR FINANCING PARTNER THREATENED TO FORECLOSE. KNOWING THE NEED FOR WORKFORCE HOUSING IN THIS COMMUNITY AND THE IMPORTANCE OF THE DEVELOPER'S WORK IN THE REGION, THE COMMUNITY LOAN FUND CHANGED ITS LOAN AGREEMENTS, DELAYED REPAYMENT AND EXTENDED FLEXIBLE CAPITAL TO KEEP THE PROJECT AFLOAT. THE COMMUNITY LOAN FUND'S PATIENCE, TECHNICAL ASSISTANCE, PARTNERSHIP AND MORAL SUPPORT WERE CRITICAL, SAID TWIN PINES EXECUTIVE DIRECTOR ANDREW WINTER. "TWIN PINES COULD NOT HAVE COMPLETED THIS EXCEEDINGLY COMPLEX AND CHALLENGING PROJECT WITHOUT THE COMMUNITY LOAN FUND BESIDE US EVERY STEP OF THE WAY." THE RESULT WILL BE 76 MORE FAMILIES IN APARTMENTS THEY CAN AFFORD, 44 MORE WHO OWN HOMES WITHIN WALKING DISTANCE TO GOOD JOBS, AND A HIGH-FUNCTIONING NONPROFIT CONTINUING TO PROVIDE AFFORDABLE HOUSING IN A MARKET THAT WOULD NOT OTHERWISE HAVE IT. SINCE 1989 THE COMMUNITY LOAN FUND HAS MADE OVER $22 MILLION IN LOANS, RESULTING IN THE CREATION OF OVER 1,379 AFFORDABLE APARTMENTS VALUED AT MORE THAN $191 MILLION. THE NONPROFIT DEVELOPERS IT SUPPORTS HAVE DEVELOPED OVER 2,000 UNITS OF AFFORDABLE HOUSING, AN INVENTORY THAT WOULD COST WELL OVER $300 MILLION TO RECREATE. 4. INDIVIDUAL DEVELOPMENT ACCOUNTS (IDA) PROVIDE MATCHED SAVINGS AND FINANCIAL TRAINING FOR PEOPLE WITH LOW INCOMES WHO WANT TO SAVE TO BUY OR REPAIR A HOME, BUY A CAR, OR TO CONTINUE THEIR EDUCATION. SINCE 2001, THE NEW HAMPSHIRE IDA PROGRAM HAS PROVIDED MORE THAN $3.1 MILLION TO MATCH THE SAVINGS OF PROGRAM PARTICIPANTS, INCLUDING MORE THAN $1.9 MILLION TO HELP 370 PEOPLE PURCHASE HOMES. ONE SAVER WAS A 42-YEAR-OLD SINGLE MOM WHOSE JOB WAS CUT TO PART-TIME DURING THE RECESSION. WITH HER EARNINGS DWINDLING, SHE FELT HER DREAM OF OWNING A HOME FOR HERSELF AND HER YOUNG DAUGHTER SLIPPING AWAY. HER ADVISER AT A LOCAL HUMAN SERVICES AGENCY AGREED THAT GETTING A COLLEGE DEGREE MIGHT RESULT IN A BETTER-PAYING JOB, WHICH WOULD ALLOW HER TO PURSUE HER OTHER LONG-TERM GOALS, INCLUDING HOMEOWNERSHIP. SHE USED HER IDA SAVINGS TO ENROLL AT A LOCAL COMMUNITY COLLEGE, WHERE SHE EARNED HER ASSOCIATES DEGREE AND RECEIVED THE PRESIDENT'S AWARD OF EXCELLENCE. SHE THEN ENROLLED AT ANOTHER NEARBY COLLEGE, WHERE SHE MADE DEAN'S LIST AND GRADUATED IN SPRING OF 2012 WITH A DEGREE IN HUMAN SERVICES. ALONG THE WAY, SHE RECEIVED A WORK PROMOTION AND A RAISE. ALTHOUGH SHE USED HER IDA SAVINGS FOR EDUCATION, THE FINANCIAL TRAINING SHE RECEIVED HELPED HER SAVE FOR AND BUY A MANUFACTURED HOME IN A NEARBY RESIDENT-OWNED COMMUNITY. "IDAS", SAID THE PARTICIPANT, "ARE A GOOD OPPORTUNITY FOR SOMEONE WITH MOTIVATION AND DRIVE TO MOVE FORWARD." "WITHOUT THE SUPPORT AND GUIDANCE I RECEIVED, I MIGHT HAVE BECOME FRUSTRATED", THE PARTICIPANT SAID. BUT BECAUSE SHE WAS ABLE TO COMPLETE THE PROGRAM, SHE SAYS, "MY LIFE HAS CHANGED A LOT! I'M VERY GRATEFUL." PROGRAM SERVICE STATEMENT 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 NEW HAMPSHIRE'S PEOPLE AND COMMUNITIES. THE COMMUNITY LOAN FUND IS NEARLY ALONE AMONG COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN ACCEPTING INVESTMENTS-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. ABIGAIL EASTERLY AND SCOTT SILBERFELD OF MANCHESTER, N.H. SAY THEY INVEST IN THE COMMUNITY LOAN FUND BECAUSE THEY WANT THEIR INVESTMENTS TO REFLECT THEIR VALUES. THEY MADE THEIR FIRST INVESTMENT AS A COUPLE, THEN EACH INVESTED SOME OF THEIR RETIREMENT SAVINGS. 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 30 YEARS. "WE FEEL CONFIDENT INVESTING IN THE COMMUNITY LOAN FUND", SAID SCOTT. BOTH ARE ENTHUSIASTIC AMBASSADORS. WHAT KEEPS THEM ENERGIZED, THEY SAY, IS KNOWING HOW THEIR MONEY HELPS OTHERS SUCCEED. "IT MAKES US FEEL GOOD", SAID SCOTT. "IT'S A MISTAKE FOR ANYONE TO THINK WE'RE DOING THIS BECAUSE WE'RE HUMANITARIANS-WERE GETTING WAY MORE OUT OF THIS THAN YOU GUYS ARE! TO BE ABLE TO FIND A GOOD INVESTMENT VEHICLE AND HELP PEOPLE AT THE SAME TIME IS A WIN-WIN FOR US." INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $5 MILLION. IN A CHALLENGING ECONOMY, THE PHILANTHROPY PROGRAM BROUGHT IN $8.64 MILLION FROM 77 NEW INVESTMENTS IN FY 13, PUSHING THE TOTAL NUMBER OF INVESTORS IN THE COMMUNITY LOAN FUND TO 512. PROGRAM SERVICE STATEMENT FORM 990, PT. III, LINE 4C THE COMMUNITY LOAN FUND OFFERS FINANCING FOR BUSINESSES RANGING FROM SELF-EMPLOYED TRADESMEN TO HIGH-GROWTH, HIGH-MARGIN COMPANIES. BUSINESS BUILDER LOANS CAN BE USED TO IMPROVE OR GROW A BUSINESS. TRAINING OR TECHNICAL SUPPORT MAY BE PROVIDED BY SOME COMBINATION OF A BUSINESS PERFORMANCE COACH, CONSULTANT, AN ADVISORY BOARD OR A BUSINESS PEER GROUP. VESTED FOR GROWTH INVESTMENTS PROVIDE RISK-TOLERANT CAPITAL, BUSINESS EDUCATION, AND PEER-LEARNING OPPORTUNITIES TO HELP OWNERS OF ESTABLISHED SMALL BUSINESSES INCREASE PROFITS AND CREATE HIGHER-QUALITY JOBS. IN FISCAL YEAR 13, OUR BUSINESS FINANCE TEAM MADE SIX INVESTMENTS TOTALING NEARLY $2.24 MILLION. EIGHTEEN BUSINESS OWNERS PARTICIPATED IN CEO PEERLINK, A GROUP IN WHICH CEOS MEET MONTHLY TO SHARE BEST PRACTICES, PROVIDE SUPPORT AND SOLVE BUSINESS PROBLEMS. FOR FOUR YEARS, A FARM FAMILY HAD PROVIDED HEALTHY, ORGANIC, HEALTHY FOOD TO RESIDENTS ALONG NEW HAMPSHIRE'S SEACOAST. THEN THEY LEARNED THAT THE LEASE ON THEIR FARMLAND WOULDN'T BE RENEWED. IN FEBRUARY 2012, THE COMMUNITY LOAN FUND PROVIDED A LOAN TO HELP THEM BUY A PARCEL OF LAND ALONG A FERTILE RIVERBED AND RENOVATE AN EXISTING DAIRY FARM THERE. WE ALSO LOANED THEM MONEY TO FINANCE NEW EQUIPMENT. THE LOANS, TOTALING $500,000, SAVED 10 JOBS AND CREATED A HANDFUL OF CONSTRUCTION JOBS AND FIVE PART-TIME SEASONAL JOBS ON THE FARM, ALL WHILE PRESERVING OPEN LAND AND ENCOURAGING SUSTAINABLE FAMILY FARMING. 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 2010-2011 CEO COMPENSATION STUDY WHICH WAS MADE UP OF A POOL OF 3,500 NATION-WIDE NON-PROFIT ORGANIZATIONS WITH 501(C)3 DESIGNATIONS THAT FILE 990S. REGIONAL DATA INCLUDED EVALUATION OF SEVERAL NEW ENGLAND NON-PROFIT INSTITUTIONS SIMILAR TO THE COMMUNITY LOAN FUND IN EITHER SIZE OR ACTIVITY. THIS INFORMATION WAS LOCATED VIA RESEARCH OF THE ORGANIZATIONS' FORMS 990 FOR 2010 AND 2011. 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 GENERALLY IN LINE 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 $213,044 TO THE COMMUNITY LOAN FUND. TWELVE EMPLOYEES HAVE PROVIDED LOANS TOTALING $388,423 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 $178,060. THE TRANSACTIONS ARE PART OF THE COMMUNITY LOAN FUND'S NORMAL COURSE OF BUSINESS AND ARE OPEN TO THE PUBLIC AT LARGE.