2012-05-14T18:13:57-05:00 2011-12-31 341862269 CBIZ MHM LLC 3 BETHESDA METRO CENTER SUITE 600 BETHESDA MD 20814 990 2011-01-01 542058754 THE NATURAL CAPITAL INVESTMENT FUND C/O THE CONSERVATION FUND NATU 7035256300 1655 NFORT MYER DRIVE NO 1300 ARLINGTON VA 222093199 DAVID PHILLIPS JR 7035256300 2012-05-14 1 JEFFREY E SABOT P00159255 3019513636 2011 2016-02-24 21:20:13Z DAVID PHILLIPS JR 1655 N FORT MYER DR ARLINGTON VA 22209 1924914 0 X WWW.WVNCIF.ORG X 2001 MD SEE SCHEDULE O. 8 4 0 0 0 0 1340946 1571585 278083 344793 7454 8536 0 0 1626483 1924914 0 0 0 0 0 0 0 0 11770 1163751 1133467 1163751 1133467 462732 791447 7721808 10395799 2624767 4507311 5097041 5888488 NCIF IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT PROVIDES FINANCIAL AND TECHNICAL ASSISTANCE TO SUPPORT DEVELOPMENT OF NATURAL RESOURCE-BASED BUSINESSES. 0 0 1070269 344793 PROVIDED SUPPORT FOR BUSINESS DEVELOPMENT TO NATURAL RESOURCE-BASED ENTERPRISES AND PARTNERED WITH GOVERNMENT ENTITIES TO PROVIDE INCENTIVES TO BUSINESSES TO ENGAGE IN SOUND ENVIRONMENTAL PRACTICES. 1070269 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 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 0 1 0 0 0 0 1 27 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD NC TN WV X X MICHAEL COX 7035256300 1655 N FORT MYER DRIVE SUITE 1300 ARLINGTON VA 222093199 X DAVID K PHILLIPS JR 3.00 X X 0 243771 38711 JOSEPH A HANKINS 3.00 X 0 156524 33841 ERIK J MEYERS 10.00 X X 0 172946 22057 GAT CAPERTON 3.00 X 0 0 0 RUTH KATHARINA JOSECK 3.00 X 0 0 0 BECKY ANDERSON 3.00 X 0 0 0 ARCHIE HART 3.00 X 0 0 0 MICHELE J SAGER 3.00 X X 0 118489 30971 MARTEN JENKINS 37.50 X 0 113870 32011 0 805600 157591 0 0 1 0 THE CONSERVATION FUND 1655 N FORT MYER DRIVE ARLINGTON VA 222093199 MANAGEMENT SERVICES 633000 1 386015 1185570 1571585 INTEREST INC FROM NR 522299 218376 218376 PROG & CONTR FEE INC 541900 126417 126417 344793 8536 8536 1924914 344793 0 8536 633000 611549 13407 8044 31654 31654 198452 191727 4203 2522 387 371 10 6 11667 11200 350 117 36846 35397 906 543 2178 2178 66631 66631 LOAN LOSS RESERVE 105499 105499 TELEPHONE AND UTILITIES 13988 13438 344 206 UNCOLLECTED GRANT REVEN 8215 8215 BANK FINANCE FEES 7489 7195 184 110 17461 16869 370 222 1133467 1070269 51428 11770 4727474 6176937 474639 333786 13000 5500 2493059 3856784 13636 22792 7721808 10395799 470156 668304 2152076 3839007 2535 0 2624767 4507311 X 157729 1279962 1950439 1736952 2988873 2871574 5097041 5888488 7721808 10395799 791447 0 X 0 1 1 X 1 1 X X X 0 0 0 THE CONSERV FUND 521388917 7 1 0 1 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 NOTES RECEIVABLE - FINANCING FOR NATURAL RESOURCE-BASED COMPANIES 3856784 C 3856784 1924914 1133467 791447 791447 1924914 0 1924914 0 1924914 1133467 0 1133467 0 1133467 SCHEDULE D, PART VIII: NCIF LENDS MONEY TO STARTUP AND NATURAL RESOURCE-BASED COMPANIES IN THE APPALACHIAN REGION OF THE U.S. INCLUDING THE STATES OF WEST VIRGINIA, NORTH CAROLINA, AND VIRGINIA. THE TOTAL AMOUNT OF THE NOTES RECEIVABLE, NET OF ALLOWANCE FOR POSSIBLE LOSSES AT DECEMBER 31, 2011 IS $3,856,784. ALL LOANS REQUIRE BOARD APPROVAL. THE LOAN BALANCES RANGE FROM $2,500 TO $250,000. THE NOTES HAVE VARIOUS INTEREST RATES AND MATURITY DATES, WITH THE LATEST NOTE MATURING IN 2029. SCHEDULE D, PART X, LINE 2: NCIF HAS ADOPTED ASC TOPIC 740-10 WHICH PRESCRIBES MEASUREMENT AND DISCLOSURE REQUIREMENTS FOR CURRENT AND DEFERRED INCOME TAX PROVISIONS. THE TOPIC PROVIDES FOR A CONSISTENT APPROACH IN IDENTIFYING AND REPORTING UNCERTAIN TAX PROVISIONS. IT IS MANAGEMENT'S BELIEF THAT NCIF DOES NOT HOLD ANY UNCERTAIN TAX POSITIONS. NCIF'S RETURNS FOR 2011, 2010, 2009 AND 2008 ARE SUBJECT TO EXAMINATION BY THE IRS GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. X X X X X 0 0 0 0 0 0 0 0 0 DAVID K PHILLIPS JR 0 189181 0 53900 0 690 0 19700 0 19011 0 282482 0 53900 JOSEPH A HANKINS 0 135201 0 20100 0 1223 0 14350 0 19491 0 190365 0 20100 ERIK J MEYERS 0 149866 0 21100 0 1980 0 15060 0 6997 0 195003 0 21100 SUPPLEMENTAL INFORMATION PART III COMPENSATION - EMPLOYER 403B CONTRIBUTIONS ARE RECORDED IN PART II COLUMN C "DEFERRED COMPENSATION". ORGANIZATION MISSION STATEMENT FORM 990, PART I, LINE 1: NCIF IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT PROVIDES FINANCIAL AND TECHNICAL ASSISTANCE TO SUPPORT DEVELOPMENT OF NATURAL RESOURCE-BASED BUSINESSES. FORM 990, PART VI, SECTION B, LINE 11 THE INDEPENDENT AUDITING FIRM ENGAGED TO CONDUCT AN ANNUAL AUDIT OF THE FINANCIAL STATEMENTS AND POSITION OF THE NATURAL CAPITAL INVESTMENT FUND (NCIF) IS ENGAGED TO ASSIST IN THE PREPARATION OF THE FORM 990. THE PRESIDENT, THE CHIEF FINANCIAL OFFICER AND STAFF OF THE CONSERVATION FUND, NCIF'S PARENT ORGANIZATION, DIRECTLY PARTICIPATE IN THE PREPARATION OF THE FORM, DRAFTING RESPONSES TO QUESTIONS AND REVIEWING THE FORM 990 IN DRAFT. A DRAFT COPY OF THE FORM 990 IS SENT TO THE MEMBERS OF THE BOARD OF DIRECTORS, REQUESTING COMMENTS AND QUESTIONS FROM THEM. SUBSEQUENT TO THE REVIEW AND REVISION PROCESS OF THE BOARD AND MANAGEMENT, THE FORM 990 IS FINALZED AND FILED WITH THE IRS. COPIES OF THE FORM ARE PROVIDED ARE THEN MADE AVAILABLE FOR PUBLIC INSPECTION. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT POLICY COPIES ARE PROVIDED TO EACH DIRECTOR AND OFFICER AT A REGULAR BOARD MEETING EACH YEAR, TYPICALLY AT THE FIRST MEETING OF THE YEAR. EACH SUCH PERSON MUST SIGN TO INDICATE HE/SHE HAS READ THE POLICY AND UNDERSTANDS HIS/HER DUTIES UNDER IT. FORM 990, PART VI, SECTION B, LINE 15 NATURAL CAPITAL INVESTMENT FUND DOES NOT HAVE ANY DIRECT EMPLOYEES. EMPLOYEES OF THE CONSERVATION FUND PERFORM THE PROGRAM AND MANAGEMENT DUTIES. THE CONSERVATION FUND USES AN OUTSIDE THIRD PARTY COMPENSATION STUDY TO EVALUATE COMPENSATION LEVELS FOR ITS PRESIDENT AND KEY OFFICIALS. THE CONSERVATION FUND'S GOVERNANCE COMMITTEE APPROVES COMPENSATION AMOUNTS FOR THE PRESIDENT AND KEY OFFICIALS. FORM 990, PART VI, SECTION C, LINE 19 FORM 990, PART VI, SECTION C, LINE 19: NCIF MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. COMPENSATION OF OFFICERS: FORM 990, PART VII, SECTION A: THE NATURAL CAPITAL INVESTMENT FUND IS A SUPPORTING ORGANIZATION TO THE CONSERVATION FUND. ALL COMPENSATED OFFICERS AND DIRECTORS LISTED ARE FULL-TIME EMPLOYEES--37.5 HOURS PER WEEK--OF THE CONSERVATION FUND. HOURS NOT SPENT WORKING BY OFFICERS ON THE AFFAIRS OF NATURAL CAPITAL INVESTMENT FUND ARE SPENT WORKING FOR THE CONSERVATION FUND OR ANOTHER RELATED ORGANIZATION, SUSTAINABLE CONSERVATION, INC. COMPENSATION LISTED IN BOX E OF PART VII, SECTION A AND SCHEDULE J PART II IS PAID BY THE CONSERVATION FUND TO THESE INDIVIDUALS. THE NATURAL CAPITAL INVESTMENT FUND PAYS THE CONSERVATION FUND AN ANNUAL MANAGEMENT FEE WHICH INCLUDES PAYMENT FOR THE USE OF THESE EMPLOYEES. MR. JENKINS DEVOTES HIS TIME TO THE AFFAIRS OF THE NATURAL CAPITAL INVESTMENT FUND. PERMANENTLY RESTRICTED NET ASSETS FORM 990, PART X, LINE 29: NCIF RECEIVES CONTRIBUTIONS AND LOANS FROM VARIOUS ORGANIZATIONS THAT ARE INTENDED TO BE USED AS LOAN CAPITAL FOR PROGRAM RELATED LOANS IN ACCORDANCE WITH NCIF'S STATED MISSION. THE PRINCIPAL OF THESE LOANS IS REQUIRED TO REMAIN INVESTED IN NCIF'S PROGRAM RELATED LOANS TO START-UP BUSINESSES IN PERPETUITY. THE LOAN CAPITAL REVOLVING FUND, WHICH MAKES UP PERMANENTLY RESTRICTED NET ASSETS, IS REPLENISHED AS THE LOAN PRINCIPAL IS REPAID. ONLY INTEREST INCOME RECEIVED ON THE LOANS CAN BE USED BY NCIF FOR OPERATING PURPOSES. IN THE EVENT THAT A NOTE RECEIVABLE OR PROGRAM INVESTMENT FUNDED BY PERMANENTLY RESTRICTED ASSETS BECOMES UNCOLLECTIBLE, THE UNCOLLECTIBLE AMOUNT IS WRITTEN OFF AGAINST THE FUND VIA A TRANSFER TO UNRESTRICTED NET ASSETS. THE CONSERVATION FUND 1655 N FORT MYER DRIVE ARLINGTON VA 22209 521388917 CONSERVATION MD 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 THE CONSERVATION FUND N 633000 AMOUNT ACCRUED O