2025-04-28T13:25:03-05:00 2024-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2024-01-01 133154100 LEVITICUS 2523 ALTERNATIVE FUND INC LEVI 9149094498 220 WHITE PLAINS ROAD 415 TARRYTOWN NY 10591 GREGORY MAHER EXECUTIVE DIRECTOR 9149094498 2025-04-28 1 1 CAITLIN LIMOGES CPA P01633588 5083669100 2025-04-28 2024 2025-03-06 01:10:19Z GREGORY MAHER 220 WHITE PLAINS ROAD 415 TARRYTOWN NY 10591 15772383 0 X WWW.LEVITICUSFUND.ORG X 1983 NY THE LEVITICUS 25:23 ALTERNATIVE FUND IS ROOTED IN FAITH AND THE CALL FOR ACCESS TO ECONOMIC IMPROVEMENT. THE FUND PROVIDES FLEXIBLE CAPITAL, EXPERTISE, AND SUPPORT TO PROPEL THE GROWTH OF HEALTHIER COMMUNITIES. LEVITICUS CREATES OPPORTUNITIES FOR VULNERABLE, LOW-INCOME PEOPLE TO THRIVE AND LIVE WITH DIGNITY. 17 16 16 23 0 0 4896742 9058626 4553910 6199839 339876 510080 117125 3838 9907653 15772383 0 0 0 0 1717820 2034936 0 0 80559 2433234 3494187 4151054 5529123 5756599 10243260 91814753 136483847 57375040 91800874 34439713 44682973 X THE LEVITICUS 25:23 ALTERNATIVE FUND IS ROOTED IN FAITH AND THE CALL FOR ACCESS TO ECONOMIC IMPROVEMENT. THE FUND PROVIDES FLEXIBLE CAPITAL, EXPERTISE, AND SUPPORT TO PROPEL THE GROWTH OF HEALTHIER COMMUNITIES. LEVITICUS CREATES OPPORTUNITIES FOR VULNERABLE, LOW-INCOME PEOPLE TO THRIVE AND LIVE WITH DIGNITY. 0 0 4808443 6203677 THE LEVITICUS FUND'S FLEXIBLE CAPITAL AND TECHNICAL ASSISTANCE SUPPORTED A WIDE RANGE OF COMMUNITY DEVELOPMENT PROJECTS SERVING LOW-INCOME INDIVIDUALS AND FAMILIES. IN 2024, OUR LENDING INCLUDED 17 CLOSED LOANS, WITH 2 PREVIOUSLY CLOSED LOANS RECEIVING ADDITIONAL FINANCING:14 LOANS TOTALING $38,232,479, WHICH PARTIALLY FINANCED 1,122 UNITS OF AFFORDABLE AND SUPPORTIVE RENTAL HOUSING, PLUS AN ADDITIONAL 264 TRANSITIONAL AND EMERGENCY SHELTER UNITS.1 LOAN TOTALING $2,000,000, WHICH PARTIALLY SUPPORTED THE RESIDENT PURCHASE OF A 61-UNIT MANUFACTURED HOME COMMUNITY.4 LOANS TOTALING $4,850,000, WHICH PARTIALLY SUPPORTED EXPANDED PROGRAM-DELIVERY SPACE FOR THREE NONPROFIT ORGANIZATIONS. 4808443 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 1 1 0 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 0 0 0 0 1 49 0 1 16 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X GREGORY MAHER 9149094498 220 WHITE PLAINS ROAD SUITE 415 TARRYTOWN NY 10591 MR GREGORY MAHER EXECUTIVE DIRECTOR 40.00 X X 266036 0 55608 SR ROSEMARY JEFFRIES RSM BOARD PRESIDENT 0.50 X X 0 0 0 MS DARLENE ROBINSON BOARD VICE PRESIDENT 0.50 X X 0 0 0 MR RONALD ROSADO ABAD BOARD TREASURER 0.50 X X 0 0 0 SR ELLENRITA PURCARO OP BOARD SECRETARY 0.50 X X 0 0 0 SR PEGGY SCARANO OP BOARD MEMBER 0.50 X 0 0 0 MS ELAINE DOVAS BOARD MEMBER 0.50 X 0 0 0 MS BECKY KOCH BOARD MEMBER 0.50 X 0 0 0 MR DAN LETENDRE BOARD MEMBER 0.50 X 0 0 0 MR JOSEPH REILLY BOARD MEMBER 0.50 X 0 0 0 MS ELIZABETH TORRES BOARD MEMBER 0.50 X 0 0 0 MR JONATHAN HUMMEL BOARD MEMBER 0.50 X 0 0 0 MR JONATHAN VAZCONES BOARD MEMBER 0.50 X 0 0 0 MS MARIA FERREIRA LMSW BOARD MEMBER 0.50 X 0 0 0 MS ARIEL GARCIA BOARD MEMBER 0.50 X 0 0 0 MS MELODY MARAVILLAS BOARD MEMBER 0.50 X 0 0 0 MS JUSTINE MCPHERSON BOARD MEMBER 0.50 X 0 0 0 MS SHONA ST ANGELO BOARD MEMBER (UNTIL 5/2024) 0.50 X 0 0 0 MR JOSE RIVERA FINANCE DIRECTOR 40.00 X 179199 0 14376 MR KEVIN MCQUEEN DIRECTOR OF LENDING 40.00 X 150839 0 23983 MS SOHAM DHESI SENIOR INVESTMENT OFFICER 40.00 X 141743 0 31828 MS KAYLA JEFFREY SENIOR INVESTMENT OFFICER 40.00 X 103956 0 19370 MS MARYANN SORESE IMPACT MEASUREMENT & COMPLIANCE OFFICER 40.00 X 103861 0 10439 MS HELEN DAVIS LOAN MANAGER 40.00 X 102798 0 10108 1048432 0 165712 7 0 1 0 0 9058626 9058626 INTEREST, PROJECT LOANS 523000 5245373 5245373 COMMITMENT/CLOSING FEE 523000 954466 954466 6199839 510080 510080 OTHER FEES 900099 3838 3838 3838 15772383 6203677 0 510080 515219 357232 141905 16082 1213478 940843 227838 44797 105514 80429 21316 3769 81275 66944 14164 167 119450 89252 25978 4220 84838 14838 70000 268993 195936 73057 39376 39376 68151 47949 15091 5111 116390 83462 26731 6197 9413 9413 19425 11072 8353 2055236 2055236 NET LOAN LOSS PROVISION 805281 805281 MISCELLANEOUS 18080 2176 15688 216 DUES AND SUBSCRIPTIONS 9004 9004 5529123 4808443 640121 80559 593473 2103419 11957158 29068974 650 15063 122000 49915 96176 140853 93000 11037 47853 78481925 103407093 720595 1623269 91814753 136483847 255466 233260 6000000 6000000 50930048 84466470 189526 1101144 57375040 91800874 X 23671834 33319094 10767879 11363879 34439713 44682973 91814753 136483847 10243260 0 X X 0 1 X 1 1 1 X 3671710 2802350 5513123 4896742 9058626 25942551 2901603 3474657 3963716 4553910 6199839 21093725 6573313 6277007 9476839 9450652 15258465 47036276 0 501201 858746 1011426 1365498 650943 4387814 501201 858746 1011426 1365498 650943 4387814 42648462 48949 32353 45609 339876 510080 976867 48949 32353 45609 339876 510080 976867 3987 4762 117125 3838 129712 6626249 6314122 9522448 9907653 15772383 48142855 0.88590 0.86320 0.02030 0.01490 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 3,987. 2021 AMOUNT: $ 4,762. 2023 AMOUNT: $ 117,125. 2024 AMOUNT: $ 3,838. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1397415 1397415 1.00000 0 0 67445 34312 33133 73408 58688 14720 47853 NOTES RECEIVABLE 103407093 C 103407093 INTEREST PAYABLE 260925 LEASE LIABILITY - OPERATING 840219 1101144 X 16353873 581490 581490 15772383 0 15772383 6110613 581490 581490 5529123 0 5529123 PART V, LINE 4: THE LEGACY FUND WAS ESTABLISHED, WITH THE PROVISIONS THAT AMOUNTS DONATED TO THE LEGACY FUND (1) WILL BE DESIGNATED AS PERMANENTLY RESTRICTED FUNDS TO BE USED TO FUND THE ORGANIZATION'S GENERAL LENDING, (2) WILL NOT BE USED TO PAY OPERATING EXPENSES, AND (3) MAY BE USED TO COVER ACTUAL LENDING LOSSES INCURRED BY THE ORGANIZATION. MEMBERS WHO DONATE ALL THEIR SUBVENTION INVESTMENTS WILL REMAIN A MEMBER OF THE ORGANIZATION IN PERPETUITY. PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT DECEMBER 31, 2024. X X 0 0 0 0 0 0 0 1 0 MR GREGORY MAHER EXECUTIVE DIRECTOR 251036 0 15000 0 0 0 26604 0 29004 0 321644 0 0 0 MR JOSE RIVERA FINANCE DIRECTOR 169199 0 10000 0 0 0 13440 0 936 0 193575 0 0 0 MR KEVIN MCQUEEN DIRECTOR OF LENDING 146839 0 4000 0 0 0 12067 0 11916 0 174822 0 0 0 MS SOHAM DHESI SENIOR INVESTMENT OFFICER 135743 0 6000 0 0 0 13574 0 18254 0 173571 0 0 0 PART I, LINE 7 ANNUALLY, THE BOARD OF DIRECTORS GIVES THE EXECUTIVE DIRECTOR A NOT TO EXCEED" AMOUNT FOR BONUSES. THE EXECUTIVE DIRECTOR THEN ALLOCATES BONUSES. BONUS AMOUNTS ARE NOT FIXED NOR ARE THEY BASED ON SALARY OR SENIORITY. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS ELECT THE ORGANIZATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE ORGANIZATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY AT THE FIRST BOARD MEETING OF THE YEAR, ALL BOARD MEMBERS COMPLETE, SIGN AND SUBMIT A CONFLICT OF INTEREST STATEMENT. THE STATEMENT OUTLINES THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND REQUIRES BOARD MEMBERS TO STATE IN WRITING ALL KNOWN CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PERIODICALLY REVIEWS SALARIES FOR ALL OFFICER AND KEY EMPLOYEE POSITIONS, INCLUDING THE EXECUTIVE DIRECTOR POSITION. SALARIES ARE COMPARED TO COMPARABLE POSITIONS IN OTHER CHARITABLE ORGANIZATIONS, INCLUDING THOSE IN THE ORGANIZATION'S SECTOR, USING DATA FROM SALARY REVIEWS CONDUCTED BY THIRD PARTY ORGANIZATIONS. THE COMPARATIVE FINDINGS ARE PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS FOR DISCUSSION AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990, 1023, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.