2012-05-15T09:19:47-05:00 2011-06-30 ARTHUR J GIGLIO CPA 250 EAST HARTSDALE AVENUE SUITE 34 HARTSDALE NY 10530 990 2010-07-01 132792409 THE COMMUNITY PRESERVATION CORPORATION COMM 2128695300 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 100167943 KEVIN MORAN 2128695300 2012-05-07 1 ROGER DEVRIES 9147237743 2012-05-07 2010 2016-02-24 21:20:13Z MICHAEL D LAPPIN 28 EAST 28TH STREET 9TH FLOOR NEW YORK NY 100167943 70218874 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 14 173 0 0 0 495703 2682766 73727524 66992996 44253 342249 0 0 74267480 70018011 750525 2385002 0 0 16150042 17456710 0 0 0 55954781 107822439 72855348 127664151 1412132 -57646140 1486967980 1281599138 1388891315 1217361519 98076665 64237619 TO COMBAT COMMUNITY DETERIORATION, PROMOTE THE GENERAL WELFARE, AND LESSEN THE BURDENS OF GOVERNMENT BY PROVIDING FINANCING FOR LOW & MODERATE INCOME HOUSING. 0 0 118125229 2385002 67335245 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 37 YEARS OF EXISTENCE, CPC HAS FINANCED THE REHABILITATION OR CONSTRUCTION OF 142,681 AFFORDABLE HOUSING UNITS. DURING THE YEAR ENDED JUNE 30, 2011, CPC ORIGINATED $272,339,586 OF PUBLIC AND PRIVATE FUNDS REPRESENTING FINANCING ON 3,036 UNITS. 118125229 1 1 0 1 0 0 0 0 1 0 1 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 0 1 3796 0 1 173 1 1 1 0 0 0 0 0 0 0 0 0 X 15 14 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 D LAPPIN 13.10 X X 264892 1272959 56538 MICHAEL HEGARTY 2.00 X X 35000 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 ALEXANDER BV JOHNSON 1.00 X 0 0 0 PHILIP L MILSTEIN 1.00 X 0 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 0 0 0 JOHN M MCCARTHY 34.70 X 424314 243409 57906 CAROLYN AU 35.00 X 240013 73909 49410 CHRISTOPHER BETTS 35.00 X 175705 0 39458 MARY A BRENNAN 35.00 X 350722 73909 45701 ROSE BROWNE 35.00 X 185023 36955 20762 RICHARD P CONLEY 35.00 X 224545 73909 41139 BRUCE DALE 35.00 X 215666 73909 50646 ALICE DUNN 28.60 X 294796 65819 37830 JACK GREENE 35.00 X 337135 73909 33503 CHRISTOPHER R HOOKE 35.00 X 263678 0 19544 DIANNA LOOK 35.00 X 209654 73909 45976 THOMAS P MCGRATH 34.00 X 235939 81206 47869 DOUGLAS L OLCOTT 35.00 X 166176 0 37556 ANITA PINS 35.00 X 215638 0 31840 ROBERT RIGGS 35.00 X 225034 74000 44097 SADIE MCKEOWN 35.00 X 232125 73909 50452 RICHARD A KUMRO 17.10 X 188357 327357 50584 HELENE S RUDOLPH 35.00 X 183642 0 34883 RONALD SCHIFERL 18.60 X 228244 200384 31298 BARBARA BAER 15.30 X 79640 102394 18919 RICHARD BONVICINO 28.60 X 212841 47521 25942 LYNN BRADLEY 35.00 X 140002 0 22539 CLARE CASHELL 32.50 X 92463 7868 37613 CECELIA DOYLE 28.60 X 130217 29074 10295 OKSANA GABER 35.00 X 97929 0 27742 ERICA LAKE 23.10 X 69309 35499 37712 SUSAN MCCLURE 28.60 X 204081 45566 36111 KATHLEEN MURPHY 26.00 X 90663 31638 24961 CHRISTOPHER O'KEEFE 28.60 X 163589 36524 28082 ANDREW PADIAN 35.00 X 136263 0 20609 NICHOLAS PETRAGNANI 35.00 X 143033 0 31477 BRENDA RATLIFF 27.60 X 108206 52295 23752 JAMES RYKOWSKI 35.00 X 138877 0 38118 MARY F SCHOUENBORG-PADEN 35.00 X 127799 0 26193 ANNEMARIE UEBBING 35.00 X 167028 0 27900 HILLARY WEINSTEIN 35.00 X 80076 0 17099 DANIEL J WHEELER 35.00 X 140789 0 34137 KATHLEEN A DUNN 0.50 X 5803 637030 46080 SUSAN M POLLOCK 28.60 X 144975 267717 49746 MARY E ENRIGHT 0.10 X 813 346264 36630 WILLIAM A BURKE 4.40 X 41504 286815 32650 BARRY E LIGHT 0.00 X 0 207446 35977 7462198 4953103 1517276 55 0 1 0 IBM CORPORATION PO BOX 643600 PITTSBURGH PA 15264 INFORMATION TECHNOLOGY 1107446 SCOTT W HOLCOMBE 400 EAST 71ST STREET NEW YORK NY 10021 CONSULTING 285746 ROBERT R NICOLELLA 2150 KENWOOD PLACE BELLMORE NY 11710 CONSULTING 258400 KPMG LLP PO BOX 120001 DALLAS TX 75312 AUDITORS 246000 RPI PROFESSIONAL ALTERNATIVES 10 EAST 40TH STREET NEW YORK NY 10016 CONSULTING 209541 9 2682266 500 2682766 MORTGAGE LOAN INTEREST 522292 51901576 51901576 SERVICING FEES 522390 8904164 8904164 MORTGAGE LOAN COMMITME 522292 2473445 2473445 PENALTY & LATE CHARGES 522390 1677491 1677491 GAIN ON SALE OF LOANS 522292 1615016 1615016 421304 421304 66992996 336178 336178 196144 196144 0 0 10790 4719 6071 6071 6071 70018011 67335245 0 0 2366002 2366002 19000 19000 8395387 5662568 2732819 6753674 4608810 2144864 583677 431613 152064 802766 609936 192830 921206 649357 271849 253735 253735 628135 628135 109708 109708 1104803 786147 318656 347914 106214 241700 854424 404175 450249 1188496 828087 360409 1807276 1161798 645478 281251 180801 100450 54705 35167 19538 36601362 36601362 2037889 1687398 350491 385888 385888 LOAN LOSS RESERVE INCRE 60676987 60676987 OTHER LOAN-RELATED EXPE 971123 971123 CONTRIBUTIONS 240933 160465 80468 TEMPORARY OFFICE HELP 106575 68511 38064 EMPLOYMENT AGENCY FEES 31528 31528 139707 139707 127664151 118125229 9538922 0 53912624 85588141 70561552 149599234 3642946 2252950 1069312 559454 10451684 5120473 6015489 5331211 29026934 31669202 1284333900 982056058 10717525 9330008 27687698 15212880 1486967980 1281599138 6279194 5952211 219430588 207052443 778947319 589001677 377306124 404923696 6928090 10431492 1388891315 1217361519 X 98076665 64237619 98076665 64237619 1486967980 1281599138 X -57646140 23807094 X X 0 1 1 X 0 X 110550 23400 31010 58843 2682766 2906569 74490146 89456986 76002911 73727524 66992996 380670563 74600696 89480386 76033921 73786367 69675762 383577132 0 3205663 3381902 3087200 4109666 1258689 15043120 3205663 3381902 3087200 4109666 1258689 15043120 368534012 1513083 1082481 187866 44253 336178 3163861 1513083 1082481 187866 44253 336178 3163861 76113779 90562867 76221787 73830620 70011940 386740993 0.95290 0.94840 0.00820 0.01000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 1 10000 0 0 1 260000 0 0 270000 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: LOBBYING IS NOT A SUBSTANTIAL PART OF THE ACTIVITIES OF THE CORPORATION. DURING THE FISCAL YEAR ENDED JUNE 30, 2011, OFFICERS OF THE CORPORATION DID LOBBY WITH RESPECT TO FEDERAL, STATE, AND LOCAL LEGISLATION RELATING TO AFFORDABLE HOUSING ISSUES, AND THE CORPORATION RETAINED THE SERVICES OF LEGAL COUNSEL IN ALBANY TO REPRESENT ITS INTERESTS WITH RESPECT TO STATE LEGISLATION AND IN WASHINGTON, DC, WITH RESPECT TO FEDERAL LEGISLATIONS, AS WELL AS RETAINING A CONSULTANT IN NEW YORK CITY FOR MATTERS RELATED TO LOCAL LEGISLATION. DIRECT LOBBYING EXPENSES OF THIS NATURE FOR THE FISCAL YEAR ENDED JUNE 30, 2011, TOTALED LESS THAN $110,000. 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, 2011, ARE THEREFORE ESTIMATED TO HAVE BEEN LESS THAN $270,000. 0 1 221939 186784 35155 1929674 1541334 388340 8300071 3392355 4907716 5331211 CONSTRUCTION LOANS, NET OF RESERVE 325029992 C CONSTRUCTION LOAN PARTICIPATIONS 382856226 C PERMANENT MORTGAGE LOANS 47265689 C PERMANENT LOAN PARTICIPATIONS 226904151 C 982056058 DUE TO PARTICIPANTS 10431492 10431492 70018011 127664151 -57646140 20223827 3583267 23807094 -33839046 108760730 42830719 42830719 65930011 4088000 4088000 70018011 162823603 39247452 39247452 123576151 4088000 4088000 127664151 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, 2011, THE CORPORATION HELD APPROXIMATELY $126 MILLION OF BORROWER ESCROW FUNDS AND APPROXIMATELY $81 MILLION OF GOVERNMENT AGENCY FUNDS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: EFFECTIVE JULY 1, 2009, 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, 2011, WHICH ARE FROM JULY 1, 2007 THROUGH JUNE 30, 2010. 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 8 - OTHER ADJUSTMENTS: EQUITY IN NON-EXEMPT SUBSIDIARIES 3,583,267. PART XII, LINE 2D - OTHER ADJUSTMENTS: INCOME OF NON-EXEMPT SUBSIDIARIES INCLUDED IN CONSOLIDATED AUDIT 42,830,719. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS UNREALIZED LOSS ON FMV OF LOANS 4,088,000. PART XIII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF NON-EXEMPT SUBSIDIARIES INCLUDED IN CONSOLIDATED AUDIT 39,247,452. PART XIII, LINE 4B - OTHER ADJUSTMENTS: RECLASS UNREALIZED LOSS ON FMV OF LOANS 4,088,000. 1 BOULEVARD APARTMENTS LLC 112 HIGH STREET HOOSICK FALLS NY 12090 223892567 30000 CDFI GRANT UNDER NEW YORK STATE PROGRAM GENEVA GENERAL HOUSING DEVELOPMENT FUND CO INC 260 NORTH STREET GENEVA NY 14456 222816883 501(C)(3) 195690 COST WEATHERIZATION IMPROVEMENTS NEW YORK STATE WEATHERIZATION GRANT CANANDAIGUA GENERAL HOUSING DEVELOPMENT FUND CORP INC 80 PARRISH STREET CANANDAIGUA NY 14424 222415151 501(C)(3) 326799 COST WEATHERIZATION IMPROVEMENTS NEW YORK STATE WEATHERIZATION GRANT TWO PLUS FOUR MANAGEMENT COMPANY INC 6320 FLY ROAD SYRACUSE NY 13057 161140398 64828 COST WEATHERIZATION IMPROVEMENTS NEW YORK STATE WEATHERIZATION GRANT WATERTOWN ASSOCIATES LLC 207 WEALTHEA AVENUE WATERTOWN NY 13601 141628442 354353 COST WEATHERIZATION IMPROVEMENTS NEW YORK STATE WEATHERIZATION GRANT AUBURN HOUSING AUTHORITY 20 THORNTON AVENUE AUBURN NY 13021 156002494 CITY OF AUBURN 804556 COST WEATHERIZATION IMPROVEMENTS NEW YORK STATE WEATHERIZATION GRANT SYRACUSE HOUING AUTHORITY 427 TULLY STREET SYRACUSE NY 13204 156001224 CITY OF SYRACUSE 589776 COST WEATHERIZATION IMPROVEMENTS NEW YORK STATE WEATHERIZATION GRANT 4 CDFI GRANTS UNDER NEW YORK STATE PROGRAM 7 19000 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 0 1 1 0 1 0 1 0 0 MICHAEL D LAPPIN 176934 294889 37500 62500 50458 915570 11944 19906 9258 15430 286094 1308295 0 0 JOHN M MCCARTHY 321627 2430 44663 338 58024 240641 31611 239 25861 195 481786 243843 0 0 CAROLYN AU 189829 0 30000 0 20184 73909 27710 0 21700 0 289423 73909 0 0 CHRISTOPHER BETTS 132910 0 22000 0 20795 0 20189 0 19269 0 215163 0 0 0 MARY A BRENNAN 226942 0 80000 0 43780 73909 31850 0 13851 0 396423 73909 0 0 ROSE BROWNE 136319 0 15000 0 33704 36955 20586 0 176 0 205785 36955 0 0 RICHARD P CONLEY 178968 0 22000 0 23577 73909 25870 0 15269 0 265684 73909 0 0 BRUCE DALE 165495 0 15000 0 35171 73909 26130 0 24516 0 266312 73909 0 0 ALICE DUNN 200971 44871 57224 12776 36601 8172 21323 4761 9602 2144 325721 72724 0 0 JACK GREENE 229847 0 70000 0 37288 73909 31850 0 1653 0 370638 73909 0 0 CHRISTOPHER R HOOKE 157266 0 100000 0 6412 0 1928 0 17616 0 283222 0 0 0 DIANNA LOOK 157557 0 30000 0 22097 73909 23920 0 22056 0 255630 73909 0 0 THOMAS P MCGRATH 186300 5762 21340 660 28299 74784 27710 857 18723 579 282372 82642 0 0 DOUGLAS L OLCOTT 134038 0 12500 0 19638 0 20215 0 17341 0 203732 0 0 0 ANITA PINS 168771 0 20000 0 26867 0 24908 0 6932 0 247478 0 0 0 ROBERT RIGGS 163968 0 33000 0 28066 74000 24411 0 19686 0 269131 74000 0 0 SADIE MCKEOWN 181710 0 27000 0 23415 73909 27183 0 23269 0 282577 73909 0 0 RICHARD A KUMRO 124498 130882 41438 43563 22421 152912 15527 16323 9133 9601 213017 353281 0 0 HELENE S RUDOLPH 144037 0 20000 0 19605 0 21515 0 13368 0 218525 0 0 0 RONALD SCHIFERL 125100 109830 74550 65450 28594 25104 6310 5540 10356 9092 244910 215016 0 0 BARBARA BAER 70645 90829 6563 8438 2432 3127 7440 9566 837 1076 87917 113036 0 0 RICHARD BONVICINO 142872 31899 61311 13689 8658 1933 2616 584 18591 4151 234048 52256 0 0 LYNN BRADLEY 112849 0 5500 0 21653 0 17415 0 5124 0 162541 0 0 0 CECELIA DOYLE 92236 20594 16758 3742 21223 4738 6233 1392 2183 487 138633 30953 0 0 SUSAN MCCLURE 171722 38341 12262 2738 20097 4487 10184 2274 19336 4317 233601 52157 0 0 CHRISTOPHER O'KEEFE 127412 28447 22072 4928 14105 3149 18465 4123 4491 1003 186545 41650 0 0 ANDREW PADIAN 118514 0 10000 0 7749 0 3089 0 17520 0 156872 0 0 0 NICHOLAS PETRAGNANI 113664 0 22000 0 7369 0 15437 0 16040 0 174510 0 0 0 BRENDA RATLIFF 73915 19945 15750 4250 18541 28100 12285 3315 6420 1732 126911 57342 0 0 JAMES RYKOWSKI 119179 0 5500 0 14198 0 18148 0 19970 0 176995 0 0 0 MARY F SCHOUENBORG-PADEN 107840 0 12000 0 7959 0 15347 0 10846 0 153992 0 0 0 ANNEMARIE UEBBING 143837 0 5500 0 17691 0 21184 0 6716 0 194928 0 0 0 DANIEL J WHEELER 117332 0 15000 0 8457 0 16939 0 17198 0 174926 0 0 0 KATHLEEN A DUNN 3795 250487 1269 83731 739 302812 475 31375 212 14018 6490 682423 0 0 SUSAN M POLLOCK 50032 156451 73573 16427 21370 94839 7408 23207 4666 14465 157049 305389 0 0 MARY E ENRIGHT 620 193736 96 29904 97 122624 91 28541 26 7972 930 382777 0 0 WILLIAM A BURKE 29195 201756 6953 48047 5356 37012 4026 27824 101 699 45631 315338 0 0 BARRY E LIGHT 0 174861 0 8000 0 24585 0 26325 0 9652 0 243423 0 0 PART I, LINES 4B-C SCHEDULE J, LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PAYMENTS: FROM THE FROM RELATED ORGANIZATION ORGANIZATION CAROLYN AU 5,100 - CHRISTOPHER P BETTS 3,500 - MARY A BRENNAN 18,700 - ROSE BROWNE 3,500 - WILLIAM A BURKE 1,568 10,832 RICHARD P CONLEY 4,300 - BRUCE DALE 3,600 - ALICE DUNN 17,004 3,796 KATHLEEN A DUNN 378 24,922 MARY E ENRIGHT 20 6,180 JACK GREENE 15,100 - RICHARD A KUMRO 11,261 11,839 MICHAEL D LAPPIN 30,563 50,937 DIANNA LOOK 4,700 - JOHN M MCCARTHY 33,050 250 THOMAS P MCGRATH 4,171 129 SADIE MCKEOWN 4,600 - DOUGLAS L OLCOTT 2,200 - ANITA PINS 4,200 - SUSAN M POLLOCK 13,897 3,103 ROBERT L RIGGS 5,400 - HELENE S RUDOLPH 3,300 - RONALD SCHIFERL 16,188 14,212 SCHEDULE J, LINE 4C - EQUITY-BASED COMPENSATION PAYMENTS: FROM THE FROM RELATED ORGANIZATION ORGANIZATION CAROLYN AU - 73,909 MARY A BRENNAN - 73,909 ROSE BROWNE - 36,955 RICHARD P CONLEY - 73,909 BRUCE DALE - 73,909 KATHLEEN A DUNN - 254,062 MARY E ENRIGHT - 92,386 JACK GREENE - 73,909 RICHARD A KUMRO - 129,341 MICHAEL D LAPPIN - 831,473 DIANNA LOOK - 73,909 JOHN M MCCARTHY - 240,203 THOMAS P MCGRATH - 73,909 SADIE MCKEOWN - 73,909 SUSAN M POLLOCK - 73,909 BRENDA RATLIFF - 23,097 ROBERT L RIGGS - 74,000 PART I, LINE 5 THE PAYMENTS DETAILED IN THE RESPONSE TO ITEM 4A ABOVE WERE BASED ON THE REVENUE OF A RELATED ORGANIZATION FROM A SPECIFIC INVESTMENT AND ARE INCLUDED IN THE COMPENSATION FROM RELATED ORGANIZATIONS REPORTED IN PART II. PART I, LINE 6 THE PAYMENTS DETAILED IN THE RESPONSE TO ITEM 4A ABOVE WERE BASED ON THE REVENUE OF A RELATED ORGANIZATION FROM A SPECIFIC INVESTMENT AND ARE INCLUDED IN THE COMPENSATION FROM RELATED ORGANIZATIONS REPORTED IN PART II. 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. 0 JOHN M MCCARTHY EXECUTIVE V.P. & CHIEF OPERATING OFFICER MR. MCCARTHY SERVES AS CHAIRMAN OF THE HOUSING PARTNERSHIP DEVELOPMENT CORPORATION (HPDC), A NON-PROFIT ENTITY WHOSE PURPOSES INCLUDE DEPLOYING STATE HOUSING SUBSIDIES TO APPROVED PROJECTS. A FEW PROJECTS RELATED TO THE ORGANIZATION AND TO CPC RESOURCES INC. (CPCR), THE ORGANIZATIONS WHOLLY-OWNED NON-EXEMPT SUBSIDIARY, HAVE RECEIVED THESE SUBSIDIES. MR. MCCARTHY IS SUBJECT TO WRITTEN CONFLICT OF INTEREST POLICIES OF BOTH THE ORGANIZATION AND HPDC AND HAS NOT TAKEN PART IN HPDC DECISIONS TO DEPLOY, NOR IN DECISIONS OF THE ORGANIZATION OR CPCR TO SEEK, THESE SUBSIDIES. 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 MCGLAGAN 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 5: PRIOR PERIOD ADJUSTMENTS: 20,223,827. EQUITY IN NON-EXEMPT SUBSIDIARIES 3,583,267. TOTAL TO FORM 990, PART XI, LINE 5: 23,807,094. 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. SUPPLEMENT TO SCHEDULE R, PART V, TRANSACTIONS WITH RELATED ORGANIZATIONS. CPC NOMINEE 1, INC. (CPCN) IS A DELAWARE CORPORATION OWNED 100% BY THE ORGANIZATION. IT WAS FORMED FOR THE PURPOSE OF TEMPORARILY HOLDING TITLE TO REAL ESTATE ACQUIRED BY THE ORGANIZATION THROUGH LOAN FORECLOSURES. AT JUNE 30, 2011, IT OWNED ONLY ASSETS WHICH CONSIST OF REAL ESTATE IN NEW YORK STATE. ONCE THESE ASSETS ARE DISPOSED OF CPCN WILL BE FORMALLY DISSOLVED. 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