2012-11-08T14:34:55-06:00 2012-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2011-07-01 222524015 NEW HAMPSHIRE COMMUNITY LOAN FUND NEWH 6032246669 7 WALL STREET CONCORD NH 03301 JULIANA EADES 6032246669 2012-11-01 1 THOMAS WASHBURN CPA P00537319 5083669100 2012-10-31 2011 2016-02-24 21:20:13Z JULIANA EADES 7 WALL STREET CONCORD NH 03301 9423429 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 OWN HOMES, HAVE 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 AND 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. 13 12 55 36 0 0 7474106 4203462 4567066 4813074 -54776 134314 557 0 11986953 9150850 496726 1757352 0 0 3695798 3746768 13031 0 134249 7111444 4372298 11316999 9876418 669954 -725568 80334100 83468454 60754480 63794046 19579620 19674408 X TO SERVE AS A CATALYST, LEVERAGING FINANCIAL, HUMAN AND CIVIC RESOURCES TO ENABLE TRADITIONALLY UNDERSERVED PEOPLE TO OWN HOMES, HAVE 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 AND 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 4628601 1218158 3883312 AFFORDABLE HOUSING - SEE SCHEDULE O 2258939 0 538 CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O 1434968 70997 401589 ECONOMIC OPPORTUNITY - SEE SCHEDULE O 489467 468197 339403 COMMUNITY FACILITIESSINCE 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 FY 12, THE COMMUNITY LOAN FUND MADE SIX COMMUNITY FACILITIES LOANS TOTALING $1.9 MILLION, SUPPORTING 134 JOBS AND CREATING OR IMPROVING EIGHT HOUSING UNITS AND 57,426 SQUARE FEET OF FACILITIES SPACE.ONE OF THOSE LOANS WAS TO A STATEWIDE NONPROFIT THAT ENCOURAGES THE HUMANE TREATMENT OF ANIMALS BY PROVIDING SHELTER, ADOPTION, EDUCATION, AND OTHER SERVICES. FOLLOWING THE RECOMMENDATIONS OF A COMPREHENSIVE ENERGY AUDIT, WE LOANED $175,350 IN JANUARY 2012 TO HELP FINANCE ENERGY IMPROVEMENTS THAT INCLUDED INSULATING AND AIR-SEALING THE BUILDINGS AND INSTALLING A WOOD PELLET BOILER AND A SOLAR THERMAL HOT WATER SYSTEM. THE LOAN SUPPORTED 33 JOBS AND 24,000 SQUARE FEET OF NONPROFIT FACILITY SPACE. 489467 468197 339403 8811975 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 0 1 365 0 1 55 1 0 0 0 0 0 0 0 0 0 0 X 13 12 0 1 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 DEBBY 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 114280 0 23607 BONNIE SCADOVA 40.00 X 87651 0 23991 201931 0 47598 1 0 0 0 FAIRHAVEN ASSOCLLC PO BOX 544 PEMBROKE NH 03275 INTERIM PROGRAM MANAGEMENT 126900 1 2561936 1641526 81797 4203462 INTEREST FROM LOANS 531390 4491470 4491470 FEE AND OTHER INCOME 531390 222154 222154 RENTAL INCOME 531120 99450 99450 4813074 220643 220643 186250 272579 -86329 -86329 -86329 9150850 4726745 0 220643 1394137 1394137 363215 363215 253678 160296 79533 13849 2751995 2184355 493183 74457 76468 60792 13594 2082 425400 341539 72068 11793 239227 188140 44108 6979 84000 84000 4208 4040 145 23 96376 75614 17885 2877 5563 5543 17 3 306233 256293 43393 6547 23698 23698 263240 241421 16357 5462 81002 65476 13505 2021 98596 58735 37824 2037 84623 80185 3914 524 54547 53335 1038 174 2023151 2023151 158651 97637 57807 3207 85192 50972 32515 1705 LOAN LOSS PROVISION 917475 917475 PROPERTY EXPENSES 55147 55147 TRAINING 30596 26779 3308 509 9876418 8811975 930194 134249 11398572 9780430 4103091 930224 559399 327358 0 24670 26491 5627099 1042427 4627711 4584672 8533689 7568665 51036068 60169313 50900 81301 80334100 83468454 1152046 1507220 432696 1211551 49569738 51475275 9600000 9600000 60754480 63794046 X 7128937 7747227 4952483 4234600 7498200 7692581 19579620 19674408 80334100 83468454 X -725568 820356 X X 0 1 1 X 1 1 X 3382643 5375662 3452998 7474108 4203462 23888873 3382643 5375662 3452998 7474108 4203462 23888873 2045320 21843553 436928 191293 145285 146943 151560 1072009 103313 11623 1602 557 117095 25077977 21696068 0.87100 0.90560 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 930 4633 5563 9870855 9876418 643821 160955 0 0 551420 524733 715850 643821 2435824 3653736 4467 15876 9977 5563 35883 137885 131183 178963 160955 608986 913479 0 409 191 930 1530 321461 321461 4704830 602641 4102189 551023 439786 111237 49785 49785 4584672 LOANS RECEIVABLE 58173630 F ROC USA 1526184 F OTHER PROGRAM-RELATED EQUITY INVESTMENTS 469499 F 60169313 EQUITY EQUIVALENTS PAYABLE 9600000 9600000 9150850 9876418 -725568 820356 820356 94788 5274878 820356 1650 -4697978 -3875972 9150850 0 9150850 5180090 1650 1650 5178440 4697978 4697978 9876418 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2012, 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 XII, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR LOSS ON LOANS AND GUARANTIES -917,475. INTEREST EXPENSE -2,023,151. PASS THROUGH -1,757,352. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 2,023,151. PROVISION FOR LOSS ON LOANS AND GUARANTIES 917,475. PASS THROUGH 1,757,352. 1 COMMUNITY ACTION PROGRAM BELKNAP-MERRIMACK COUNTIES INC PO BOX 1016 2 INDUSTRIAL PARK DRIVE DRIVE CONCORD NH 03302 020270376 669571 CASH ENERGY EFFICIENCY IMPROVEMENTS BEARCAMP VALLEY SCHOOL & CHILDRENS CENTER 27 DURRELL RD TAMWORTH NH 03886 020270074 15000 CASH ENERGY EFFICIENCY IMPROVEMENTS MERRIMACK VALLEY DAY CARE SERVICES 19 NO FRUIT ST CONCORD NH 03302 026019236 15000 CASH ENERGY EFFICIENCY IMPROVEMENTS DOVER CHILDREN'S CENTER 43 BACK RIVER RD DOVER NH 03820 020303815 14517 CASH ENERGY EFFICIENCY IMPROVEMENTS FAMILIES IN TRANSITION 122 MARKET ST MANCHESTER NH 03101 020475414 231883 CASH ENERGY EFFICIENCY IMPROVEMENTS GREAT BAY KIDS CO INC 81 NEW HAMPSHIRE AVE PORTSMOUTH NH 03801 020272439 15384 CASH ENERGY EFFICIENCY IMPROVEMENTS GREEN MOUNTAIN CHILDRENS CENTER 90 CHARLESTOWN RD CLAREMONT NH 03743 223032403 5000 CASH ENERGY EFFICIENCY IMPROVEMENTS KEENE DAY CARE CENTER 86 WOOD ST KEENE NH 03431 020301063 15000 CASH ENERGY EFFICIENCY IMPROVEMENTS LITTLE ARROWS CHILD CARE SERVICES 365 SOUTH ST MILFORD NH 03055 223200995 15384 CASH ENERGY EFFICIENCY IMPROVEMENTS OSSIPEE CONCERNED CITIZENS INC PO BOX 426 CENTER OSSIPEE NH 03814 510138791 15384 CASH ENERGY EFFICIENCY IMPROVEMENTS CROSS ROADS HOUSE INC 600 LAFAYETTE RD PORTSMOUTH NH 03801 222549963 89993 CASH ENERGY EFFICIENCY IMPROVEMENTS HAMPSHIRE HILLS RACQUET & HEALTH CLUB INC 50 EMERSON RD MILFORD NH 03055 020306025 20838 CASH ENERGY EFFICIENCY IMPROVEMENTS JOURNEYS IN EDUCATION INC DBA MARIPOSA MUSEUM 26 MAIN STREET PETERBOROUGH NH 03458 020527431 11000 CASH ENERGY EFFICIENCY IMPROVEMENTS KHEOPS INTERNATIONAL INC 232 ROUTE 3 COLEBROOK NH 03576 593217467 10000 CASH ENERGY EFFICIENCY IMPROVEMENTS MILES SMITH FARM 56 WHITEHOUSE RD LOUDON NH 03307 274194971 15681 CASH ENERGY EFFICIENCY IMPROVEMENTS NH SOCIETY FOR THE PROTECTION OF ANIMALS 104 PORTSMOUTH AVE STRATHAM NH 03885 026000614 68450 CASH ENERGY EFFICIENCY IMPROVEMENTS WLR INC DBA NORTH WOODS MANUFACTURING 140 PROSPECT ST LANCASTER NH 03584 270886050 8386 CASH ENERGY EFFICIENCY IMPROVEMENTS RIVERBEND COMMUNITY MENTAL HEALTH INC 3-5 NORTH STATE ST CONCORD NH 03301 020264383 135069 CASH ENERGY EFFICIENCY IMPROVEMENTS IDA MATCHED SAVINGS GRANTS 77 348911 ENERGY EFFICIENCY IMPROVEMENT GRANTS 2 14304 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 6 81797 FAIR MARKET VALUE 0 1 0 PROGRAM SERVICE STATEMENT PT III, LINE 4A AFFORDABLE HOUSING 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-HOUSING 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, 2012, 102 RESIDENT-OWNED COMMUNITIES IN NEW HAMPSHIRE WERE HOME TO 5,658 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2012, THE COMMUNITY LOAN FUND, THROUGH ROC-NH, MADE 14 LOANS TOTALING $5,675,000. IN DOING SO, IT PRESERVED 201 HOUSING UNITS AND PROVIDED 24,576 HOURS OF TECHNICAL ASSISTANCE TO RESIDENT-OWNED COMMUNITIES. IN FEBRUARY 2012, THE RESIDENTS OF BIG W MOBILE HOME PARK IN DERRY PURCHASED THEIR 54-UNIT PARK AND BECAME NEW HAMPSHIRE'S 100TH RESIDENT-OWNED MANUFACTURED-HOUSING COMMUNITY. FIVE YEARS EARLIER, USING FUNDING, TRAINING AND TECHNICAL ASSISTANCE FROM THE COMMUNITY LOAN FUND AND ROC-NH, RESIDENTS HAD ORGANIZED AND FORMED FOXY TERRACE COOPERATIVE, INC. AND BEGUN PLANNING TO CONVERT THEIR PRIVATELY OWNED PARK TO RESIDENT OWNERSHIP. THE COOPERATIVE NEGOTIATED OFF AND ON WITH THE PARK OWNERS BEFORE FINALIZING THE DEAL WITH A MORTGAGE LOAN FROM THE COMMUNITY LOAN FUND. AS A RESULT, RESIDENTS NOW HAVE THE STABILITY OF KNOWING THE LAND WONT BE SOLD FROM UNDER THEIR HOMES, AND HAVE THE POWER TO MANAGE THEIR COMMUNITY'S RULES, RENTS, IMPROVEMENTS AND REPAIRS. TO FOXY TERRACE PRESIDENT RUSSELL BROOKS, THE PURCHASE MEANT THE RESIDENTS WOULD FINALLY DETERMINE THE NEEDS OF THEIR COMMUNITY, DECIDING TOGETHER "WHAT NEEDS TO GET FIXED, WHAT GETS FIXED FIRST AND HOW IT'S GOING TO BE FIXED." BECAUSE THE PURPOSE OF THE COOPERATIVE ISN'T TO PROFIT FROM THE PARK, HE SAID, "WE CAN ACTUALLY PUT THE MONEY INTO MAKING IT A BETTER COMMUNITY - A COMMUNITY EVERYBODY WANTS TO BE PROUD TO LIVE IN." 2. THE COMMUNITY LOAN FUND'S COOPERATIVE HOME LOANS PROVIDE REAL FIXED-RATE MORTGAGE PRODUCTS FOR A GROUP OF HOMEOWNERS THAT DOESN'T OTHERWISE HAVE ACCESS TO SUCH LOANS. MOST BUYERS OF MANUFACTURED HOMES HAVE TO USE PERSONAL PROPERTY LOANS, EVEN WHEN THEY HAVE SECURED THE LAND BENEATH THEIR HOMES THROUGH COOPERATIVE OWNERSHIP. 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. IN MAKING NEARLY $25 MILLION IN LOANS SINCE 2002, COOPERATIVE HOME LOANS HAVE SHOWN THESE BORROWERS TO BE BETTER-THAN-AVERAGE RISKS, WITH A CUMULATIVE LOSS RATE OF JUST 1.64 PERCENT. DURING FY 12, THE COOPERATIVE HOME LOANS PROVIDED $2.8 MILLION IN FINANCING TO 87 HOMEOWNERS IN 49 RESIDENT-OWNED COMMUNITIES THROUGHOUT THE STATE. IN 2009, OUR 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. IN OCTOBER 2011, WE WERE CONTACTED BY A MAN WHOSE WIFE HAD RECENTLY PASSED AWAY, AND WHOSE RETIREMENT INCOME HAD BEEN CUT BY TWO-THIRDS BY THE RECESSION. HE WAS STRUGGLING WHEN HE CALLED TO ASK IF THERE WAS A WAY TO REDUCE HIS COOPERATIVE HOME LOAN MORTGAGE PAYMENTS. HE HAD MADE EVERY PAYMENT ON TIME, EVEN MAKING DOUBLE PAYMENTS FOR MANY YEARS. WE HELPED HIM CALCULATE WHAT HE COULD AFFORD TO PAY BASED ON HIS NEW INCOME. WE REDUCED HIS MONTHLY PAYMENTS BY MORE THAN $500, WHICH MADE THEM AFFORDABLE. BECAUSE HIS DOUBLE PAYMENTS HAD REDUCED THE LOAN'S PRINCIPAL, EVEN WITH THE LOWER PAYMENT HE WOULD BE ABLE TO PAY OFF THE LOAN FIVE YEARS EARLIER. 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. IN FY 12, WE LENT $121,815 THROUGH COMMUNITY HOUSING TO HELP AN ORGANIZATION THAT SUPPLIES AFFORDABLE HOUSING AND OTHER SERVICES IN NEW HAMPSHIRE'S LARGEST URBAN AREA. OUR CONSTRUCTION LOAN ENABLED THE ORGANIZATION TO MAKE MUCH-NEEDED ENERGY-EFFICIENCY IMPROVEMENTS IN ONE OF ITS BUILDINGS, MAINTAINING 12 HOUSING UNITS AND 15,000 SQUARE FEET OF NONPROFIT FACILITY SPACE, WHILE SUPPORTING 52 LOCAL JOBS. 4. INDIVIDUAL DEVELOPMENT ACCOUNTS (IDA) PROVIDE MATCHED SAVINGS AND FINANCIAL EDUCATION FOR PEOPLE WITH LOW INCOMES WHO WANT TO SAVE FOR A HOME, OR FOR BUSINESS DEVELOPMENT, COLLEGE, A CAR, OR HOME REPAIR. SINCE 2001, THE NEW HAMPSHIRE IDA PROGRAM HAS PROVIDED MORE THAN $2.7 MILLION TO MATCH THE SAVINGS OF PROGRAM PARTICIPANTS, INCLUDING MORE THAN $1.7 MILLION TO HELP 343 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 - 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, SHE SAID, 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," SHE 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 PT III, LINE 4B CAPITAL PHILANTHROPY 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 SOLICITING 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. INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $5 MILLION. IN A CHALLENGING ECONOMY, THE PHILANTHROPY PROGRAM BROUGHT IN $3.44 MILLION FROM 113 NEW INVESTMENTS IN FY 12, PUSHING THE TOTAL NUMBER OF INVESTORS IN THE COMMUNITY LOAN FUND TO 502. PROGRAM SERVICE STATEMENT PT III, LINE 4C ECONOMIC OPPORTUNITY THE COMMUNITY LOAN FUND'S SMALL-BUSINESS LOANS PROVIDE FINANCING FOR BUSINESS FROM SELF-EMPLOYED TRADESMEN TO HIGH-GROWTH, HIGH-MARGIN COMPANIES. MICRO LOANS SERVE PRIMARILY SELF-EMPLOYED PERSONS AND THE SMALLEST COMPANIES. BUSINESS BUILDER LOANS CAN BE USED TO IMPROVE OR GROW A BUSINESS. AND VESTED FOR GROWTH PROVIDES RISK-TOLERANT CAPITAL, BUSINESS EDUCATION, AND PEER-LEARNING OPPORTUNITIES TO HELP OWNERS OF SMALL BUSINESSES INCREASE PROFITS AND CREATE HIGHER-QUALITY JOBS. VESTED FOR GROWTH PROVIDES EXPANSION CAPITAL WITHOUT NECESSARILY THE COLLATERAL REQUIREMENTS OF BANK DEBT AND WITHOUT THE NEED TO SELL THE BUSINESS TO PAY EQUITY INVESTORS. IT ALSO PROVIDES ACCESS TO ENHANCED MANAGEMENT CAPACITY, INDUSTRY CONTACTS, HUMAN RESOURCE DEVELOPMENT, AND OTHER BUSINESS RESOURCES THAT DRIVE THE INNOVATION AND GROWTH NEEDED TO BE SUCCESSFUL IN TODAY'S ECONOMY. IN FY 12, SMALL-BUSINESS LOANS MADE 18 INVESTMENTS TOTALING NEARLY $2.26 MILLION. TWENTY-THREE 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 A, LINE 3 FAIRHAVEN ASSOCIATES, LLC PROVIDED THE FOLLOWING SERVICES, AS OUTLINED IN WRITTEN SERVICE AGREEMENTS, DURING THE YEAR: 1. SERVING AS PRESIDENT PRO TEM OF THE COMMUNITY LOAN FUND DURING THE PRESIDENT'S SABBATICAL. THIS INCLUDED OVERALL RESPONSIBILITY FOR THE ORGANIZATION INCLUDING DAY-TO-DAY MANAGEMENT OF THE ORGANIZATION; MANAGEMENT OF ALL STAFF; AND REPORTING TO AND WORKING WITH THE BOARD OF DIRECTORS. 2. SERVING AS ACTING VICE PRESIDENT OF PHILANTHROPY INCLUDING OVERSIGHT OF ALL FUND RAISING, GRANTS MAMANGEMENT, AND INVESTOR MANAGEMENT. 3. CONSULTATION RELATIVE TO OVERALL ORGANIZATIONAL DEVELOPMENT AT THE COMMUNITY LOAN FUND INLUDING STRATEGIC PLANNING, DEVELOPMENT OF MANAGEMENT STRUCTURE, AND COACHING OF SENIOR STAFF. 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 2009 AND 2010. LOCAL (NEW HAMPSHIRE) DATA WAS FOUND IN THE 2010 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS 820,356. TOTAL TO FORM 990, PART XI, LINE 5: 820,356. PT 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 $207,392 TO THE COMMUNITY LOAN FUND. SEVENTEEN EMPLOYEES HAVE PROVIDED LOANS TOTALING $392,583 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 PUIBLIC AT LARGE.