2012-03-01T08:52:01-05:00 2011-06-30 Grant Thornton LLP 500 US BANK PLAZA N 200 S 6TH ST MINNEAPOLIS MN 554021459 990 2010-07-01 411616861 COMMUNITY REINVESTMENT FUND INC COMM 6123383050 801 NICOLLET MALL MINNEAPOLIS MN 554022903 Scott Young 6123052565 2012-02-01 true 6123320001 2010 2016-02-24 21:20:13Z FRANK ALTMAN 801 NICOLLET SUITE 1700 W MINNEAPOLIS MN 55402 30004377 false X WWW.CRFUSA.COM X 1988 MN Work with local development lenders to enable them to increase their impact on the lives of people and their communities. 21 20 45 21 0 0 1551260 1397275 17086278 7020575 20210111 21686527 600731 -100000 39448380 30004377 0 0 0 0 4498946 5093673 0 63134 617097 36206487 29535130 40705433 34691937 -1257053 -4687560 351674563 306969137 352185579 312167713 -511016 -5198576 X SEE SCHEDULE O. false false 3023785 7500969 SEE SCHEDULE O. 1697184 1050527 SEE SCHEDULE O. 27413090 933671 32134059 true true false false false false false true false true false false false false false false true false false false false false true false false false false false true false false false false false false false false false false false false true true false false false false true 39 0 45 true false false false false false false false false false false X 21 20 false false false false false false false true true false false true true true true false true true false false AL AK AZ AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OK OR PA RI SC TN UT VA WA WV WI X CASEY DZIEWECZYNSKI 6123052570 801 NICOLLET SUITE 1700 W MINNEAPOLIS MN 55402 FRANK ALTMAN 40.0 X X 553023 0 28962 JAMES J SOLEM 1.0 X KIM LATIMER-NELLIGAN 1.0 X MARY KAISER 1.0 X ALTON M BATHRICK 1.0 X REZA AGHAMIRZADEH 1.0 X JIM BAIRD 1.0 X FRANK BALLESTEROS 1.0 X MICHAEL BANNER 1.0 X TONY BROWN 1.0 X ANN DONOVAN 1.0 X KARL EGGE 1.0 X WARREN HANSON 1.0 X JAMES R KLEIN 1.0 X KRISTEN MOY 1.0 X DAVID SCHECK 1.0 X GERALD THOLE 1.0 X MIKE CHRISTENSON 1.0 X WARREN HANSON 1.0 X CALVIN L HOLMES 1.0 X SALLI MARTYNIAK 1.0 X EUGENE SWANZEY 1.0 X SCOTT YOUNG 40.0 X 513655 0 35012 RICHARD HEBL 40.0 X 205889 0 22107 WARREN McLEAN 40.0 X 235495 0 28610 COLLEEN SCHWARZ 40.0 X 304753 0 20518 DAN KOMAREK 40.0 X 227561 0 27367 JENNIFER NOVAK 40.0 X 185237 0 25906 DAWN JOHNSON 40.0 X 223538 0 15657 Nicholas Elders 40.0 X 112173 0 10696 Mary Sullivan 40.0 X 135116 0 13356 2696440 0 228191 10 false true false PERKINS COIE 131 S DEARBORN ST CHICAGO IL 60609 LEGAL 131497 GRANT THORNTON 200 S 6TH ST MINNEAPOLIS MN 55402 ACCOUNTING 254545 Haberman Associates 130 1st Ave North MINNEAPOLIS MN 55401 Marketing 106898 3 1397275 1397275 LOAN SERVICING TRANSACTION FEES 525990 6995445 6995445 OTHER INCOME 25130 25130 7020575 21686527 23027332 0 0 0 0 0 0 RETURNED PLEDGE 525990 -100000 -100000 -100000 30004377 6920575 23027332 0 0 0 0 1813937 1425917 113123 274897 0 2492700 1999463 382805 110432 133524 106811 14991 11722 362756 230868 87193 44695 290756 215448 52415 22893 0 230527 230527 393942 393942 0 63134 63134 0 877528 652211 222384 2933 0 127563 85569 36593 5401 0 0 458533 216653 218635 23245 158715 137987 6464 14264 0 95246 79942 7239 8065 17640131 17640131 0 371824 241708 104088 26028 0 PROVISION FOR LOAN LOSSES 8745191 8745191 ORGANIZATION COSTS 85400 85400 EMPLOYEE OVERHEAD 82498 57953 18209 6336 DUES/SUBSCRIPTIONS 42664 4928 34684 3052 MISCELLANEOUS 225368 207879 17489 34691937 32134059 1940781 617097 50 50 26246861 14340834 323202363 290624464 2891105 2489556 546757 401549 1678532 1602240 351674563 306969137 4363294 5050639 2025106 1728000 311120690 287158887 34676489 18230187 352185579 312167713 X -1757189 -6504365 1246173 1305789 -511016 -5198576 351674563 306969137 -4687560 X false true true X false X X false false false LOW INCOME INVESTMENT FUND 942952578 07 false 0 CALIFORNIA COMMUNITY REINVESTMENT CORPORATION 954207717 09 false 0 BAY AREA DEVELOPMENT COMPANY 953457545 0 false 0 LOS ANGELES LOCAL DEVELOPMENT CORPORATION 953532380 09 false 0 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 0 GREATER MINNESOTA HOUSING FUND 411836919 0 false 0 CHICAGO COMMUNITY LOAN FUND 363762123 07 false 0 OHIO COMMUNITY DEVELOPMENT FINANCE FUND 311229532 07 false 0 10 0 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) (A) (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) (3) charitable purposes. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true 2891105 2489556 401549 401549 SCHEDULE D, Part IV: ESCROW, CUSTODIAL ESCROW LIABILITY ON BALANCE SHEET REPRESENTS FUNDS HELD IN TRUST FOR BORROWERS. Schedule D, Part X FIN 48 (ASC 740) Footnote No uncertain tax positions. X X X X X X true Redwood Philanthropic Advisr 3109 W 50th St Suite 296 Minneapolis MN 55410 Consulting false 0 63134 0 0 63134 0 AL AK AZ AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OK OR PA RI SC TN UT VA WA WV WI X X X X X false false false false false false false false false FRANK ALTMAN 294897 0 258126 11000 17962 581985 0 RICHARD HEBL 164889 0 41000 9522 12585 227996 0 SCOTT YOUNG 273655 0 240000 14325 20687 548667 0 WARREN McLEAN 180495 0 55000 10741 17869 264105 0 COLLEEN SCHWARZ 238753 0 66000 9704 10814 325271 0 DAN KOMAREK 187561 0 40000 6731 20636 254928 0 JENNIFER NOVAK 125237 0 60000 5316 20590 211143 0 DAWN JOHNSON 185538 0 38000 8704 6953 239195 0 PART III: STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS LINE 1: BREIFLY DESCRIBE THE ORGANIZATION'S MISSION To transform the community development finance system by accessing capital markets on behalf of local development lenders to enable them to increase their impact on the lives of people and their communities. PART III: STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS LINE 4A: PROGRAM SERVICE ACTIVITY 1 As a non-profit, mission driven organization, CRF provides otherwise unavailable loan capital to communities, small businesses, entrepreneurs, non-profit organizations and housing organizations. During FY 2011, CRF provided financing totaling $77.2 million in 4 states. The loans provided by CRF resulted in the creation or retention of more than 569 jobs and the creation of 1,000 education slots. Additionally, projects that improve low-income communities are an integral part of CRF's mission driven lending, and in FY 2011, 100% of CRF's financing was made in low-income communities. PART III: STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS LINE 4B: PROGRAM SERVICE ACTIVITY 2 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 11, CRF provided contract loan servicing for 37 community development lenders, a volume of approximately 5,100 loans amounting to $93,700,000. In addition, CRF serviced approximately 730 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 11, CRF provided servicing for 27 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 & MANAGEMENT LINE 11 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 12(C) 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 provide 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. PART VI: GOVERNANCE, MANAGEMENT & DISCLOSURE SECTION B: POLICIES: LINE 15 THE BOARD DETERMINES COMPENSATION BASED ON A STUDY PERFORMED BY AN INDEPENDENT COMPENSATION CONSULTANT IN 2007 FROM WHICH AN INCENTIVE BONUS STRUCTURE WAS IMPLEMENTED. OTHER OFFICERS RECEIVE MERIT BASED RAISES AND BONUSES. PART VI: GOVERNANCE, MANAGEMENT & DISCLOSURE SECTION C: DISCLOSURE: LINE 19 AVAILABLE UPON REQUEST. Form 990 Part III: Program Services Other Program Services Other program services relates to servicing all other loans. 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