2012-08-14T16:28:01-05:00 2011-09-30 MATTHEWS CARTER & BOYCE 11320 RANDOM HILLS ROAD SUITE 600 FAIRFAX VA 22030 990 2010-10-01 522063496 CHARTER SCHOOLS DEVELOPMENT CORPORATION CHAR 4435611280 7272 PARK CIRCLE DRIVE NO 265 HANOVER MD 21076 MICHELLE LIBERATI 4435611280 2012-08-14 1 KATHLEEN M FLAHERTY 7032183600 2010 2016-02-24 21:20:13Z FRANK D RIGGS 7272 PARK CIRCLE DRIVE NO 265 HANOVER MD 21076 11293467 0 X WWW.CSDC.ORG X 1997 DC FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS. 8 0 11 0 0 0 2752025 0 4070768 5201915 762952 749776 52979 208961 7638724 6160652 4815 0 0 0 1066590 1516500 0 0 0 4448367 5109990 5519772 6626490 2118952 -465838 71346192 83428346 39010123 51561696 32336069 31866650 CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS. 0 0 2603304 5201915 PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS. 2603304 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 17 0 1 11 1 0 0 0 0 0 0 0 0 0 0 X 8 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 1 1 MD X TIM SUMMERS 4435611280 7272 PARK CIRCLE DRIVE NO 265 HANOVER MD 21076 FRANK D RIGGS 40.00 X X 299988 0 44500 TOM NIDA 0.80 X X 0 0 3500 EMBER REICHGOTT JUNGE 0.80 X X 0 0 2300 WADE DYKE 0.80 X 0 0 1200 MICHAEL KIRKMAN 0.80 X 0 0 2500 NINA REES 0.80 X 0 0 1150 ALEX OOMS 0.80 X 0 0 1700 JIM GOENNER 0.80 X 0 0 2150 MICHELLE LIBERATI 40.00 X 115486 0 29304 REBECCA SECREST 20.00 X 74517 0 21782 TIM SUMMERS 40.00 X 84988 0 28174 ALVIN DUBIN 10.00 X 172240 0 3250 KARL JENTOFT 10.00 X 44160 0 7681 LAURA FIEMANN 40.00 X 24261 0 4512 815640 0 153703 3 0 1 0 MACDONALD AND MACDONALD PC 66 RIVER DRIVE ANNAPOLIS MD 21043 LEGAL CONSULTING 218328 1 RENTAL INCOME 900099 4396312 4396312 FEE INCOME 900099 426214 426214 CREDIT ENHANCEMENT FEE 900099 260750 260750 INSURANCE CLAIM 900099 118639 118639 5201915 471707 471707 5410884 5132815 278069 278069 278069 MISC. INCOME 900099 208961 208961 208961 6160652 5201915 0 958737 1343892 470363 873529 81092 28382 52710 2815 985 1830 1232 431 801 87469 30614 56855 67272 23545 43727 267115 93490 173625 104349 36522 67827 187579 65653 121926 933 327 606 149634 52372 97262 420744 147261 273483 138771 48570 90201 14222 4978 9244 2132991 746547 1386444 845388 295885 549503 131008 45853 85155 LOSS-SURREND. ENHANCE. 300000 300000 LOAN LOSS RESERVE 150000 150000 APPLICATION FEES 57942 20280 37662 MEALS AND ENTERTAINMENT 22549 7892 14657 CONTRACT LABOR 21309 7458 13851 98184 25896 72288 6626490 2603304 4023186 0 14468152 14948854 17181676 15647563 750000 0 621303 760793 214560 6690010 12605 14516 44598842 1844564 36272477 42754278 716651 704970 401250 401250 190938 263662 516580 1242450 71346192 83428346 1010346 1607767 36071457 48311423 1928320 1642506 39010123 51561696 X 888725 853578 31447344 31013072 32336069 31866650 71346192 83428346 X -465838 -3581 X 0 1 0 X 1 1 X 9600000 15639 2752025 12367664 9600000 15639 2752025 12367664 12367664 1379450 1897459 3646168 457433 471707 7852217 18000 52979 208961 279940 20499821 21325494 0.60330 0.72560 X 7098000 7098000 37389778 1798419 35591359 3124 385 2739 107940 45760 62180 42754278 SECURITY DEPOSITS HELD 358896 LINE OF CREDIT 1214912 DEFERRED GAIN 68698 1642506 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE CORPORATION PREVIOUSLY ELECTED TO DEFER THE ADOPTION OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10. (FORMERLY FASB INTERPRETATION NO. 48, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" OR FIN 48.) AS PERMITTED BY FASB STAFF POSITION (FSP) FIN 48-3, THE CORPORATION ADOPTED FASB ASC 740-10 FOR ITS FISCAL YEAR ENDING SEPTEMBER 30, 2010. FASB ASC 740-10 REQUIRES CHANGES IN RECOGNITION AND MEASUREMENT FOR UNCERTAIN TAX POSITIONS. THE CORPORATION HAS DETERMINED THAT IT DOES NOT CURRENTLY HAVE ANY TAX POSITIONS THAT IT CONSIDERS TO BE UNCERTAIN. IF THIS POSITION CHANGES, THE CORPORATION WILL ASSESS THE IMPACT OF ANY SUCH MATTERS ON ITS FINANCIAL POSITION AND RESULTS OF OPERATIONS. X 1 1 X X 0 0 0 0 0 0 0 0 0 FRANK D RIGGS 277988 0 22000 0 0 0 9800 0 34700 0 344488 0 0 0 ALVIN DUBIN 132240 0 40000 0 0 0 3250 0 0 0 175490 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE PRESIDENT/CEO AND THE CONTROLLER BOTH REVIEW AND APPROVE THE FORM 990 BEFORE IT IS FILED. A COPY OF THE FILED FORM 990 IS PROVIDED AT THE REQUEST OF ANY BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND STAFF ARE REQUIRED TO REPORT ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST PURSUANT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. ANY SUCH CONFLICT IS RECORDED IN THE MINUTES OF THE ORGANIZATION'S BOARD OF DIRECTORS MEETINGS, NOTING THE RECUSAL OF THE CONFLICTED PARTY FROM ANY DISCUSSION OR ACTION ON THE MATTER IN QUESTION. BOARD MEMBERS ARE ALSO REQUIRED TO INFORM THE CEO IN WRITING OF ANY POTENTIAL CONFLICT OF INTEREST. THAT CORRESPONDENCE IS RETAINED BY THE EXECUTIVE VICE PRESIDENT AS PART OF THE PERMANENT RECORDS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE PRESIDENT AND CEO, OTHER MANAGEMENT PERSONNEL AND KEY EMPLOYEES INCLUDES AN ANALYSIS OF COMPARABLE DATA FOR SIMILAR SIZED NON-PROFIT ORGANIZATIONS WORKING IN THE SAME GENERAL FIELD OBTAINED VIA A SALARY SURVEY OF WASHINGTON, D.C. BASED NONPROFITS AND A PUBLIC RECORDS SEARCH OF FORM 990S. COMPENSATION OF EXECUTIVE STAFF IS DETERMINED BASED ON THIS COMPARABLE DATA, PREVIOUS LEVEL OF APPLICABLE WORK EXPERIENCE AND ANNUAL PERFORMANCE REVIEWS. ONLY THE PRESIDENT AND CEO'S COMPENSATION IS SUBJECT TO BOARD APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 AT ITS OFFICES, THE ORGANIZATION KEEPS COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: PRIOR PERIOD ADJUSTMENTS: -3,581. 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