2023-02-15T10:15:42-06:00 2022-06-30 221478099 COHNREZNICK LLP 14 SYLVAN WAY PARSIPPANY NJ 070543801 990 2021-07-01 133711803 PRIMARY CARE DEVELOPMENT CORPORATION PRIM 2124373940 45 BROADWAY SUITE 530 NEW YORK NY 10006 LOUISE COHEN CEO 2124373940 2023-02-06 1 LOUISE COHEN 999009999 LORI ROTHE YOKOBOSKY CPA P01273422 9732283500 2023-02-06 0 AAL1 IAL1 2021 2023-03-07 01:45:13Z LOUISE COHEN 45 BROADWAY SUITE 530 NEW YORK NY 10006 18058469 0 X WWW.PCDC.ORG X 1993 NY PCDC BUILDS, EXPANDS, AND STRENGTHENS EQUITABLE ACCESS TO QUALITY PRIMARY CARE. (SEE SCH O)FOUNDED IN 1993, PRIMARY CARE DEVELOPMENT CORPORATION ("PCDC") BUILDS, EXPANDS, AND STRENGTHENSEQUITABLE ACCESS TO QUALITY PRIMARY CARE THROUGH CAPITAL INVESTMENT,PRACTICE TRANSFORMATION, AND POLICY AND ADVOCACY. 20 20 62 19 0 0 15261916 6487397 7804042 10426466 188926 273568 450017 -19505 23704901 17167926 0 0 0 0 7590081 8309221 0 0 41358 4077212 4444100 11667293 12753321 12037608 4414605 129317637 131968263 74204461 73259375 55113176 58708888 X PCDC IS CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) BY THE UNITED STATES DEPARTMENT OF THE TREASURY AND HAS RECEIVED A FOUR-STAR IMPACT PERFORMANCE RATING WITH POLICY PLUS AND AN AA+ FINANCIAL STRENGTH RATING FROM THE CDFI RATING AGENCY AERIS. PCDC HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE TO BE A "PUBLICLY SUPPORTED ORGANIZATION OF THE TYPE DESCRIBED IN SECTION 509(A)(1) OF THE CODE. 0 0 4774406 8145383 CAPITAL INVESTMENT: PCDC OFFERS AFFORDABLE AND FLEXIBLE FINANCIAL PRODUCTS TO SUPPORT PRIMARY CARE PRACTICES' CAPITAL PROJECTS AND BUSINESS EXPANSION IN UNDERSERVED COMMUNITIES ACROSS THE COUNTRY. THESE INCLUDE TRADITIONAL FINANCING, NEW MARKETS TAX CREDITS (NMTC) FINANCING, A COMMUNITY HEALTH CARE REVOLVING CAPITAL FUND FOR NEW YORK STATE, AND OTHER TARGETED LOAN AND FINANCING OPTIONS FOR PRIMARY CARE PROVIDERS. SINCE ITS INCEPTION, PCDC HAS EXPERIENCED NO LOAN LOSSES IN ITS PORTFOLIO.TO DATE, PCDC HAS FINANCED MORE THAN $1.42 BILLION OF PRIMARY CARE PROJECTS THROUGH DIRECT INVESTMENT AND LEVERAGE, TRANSFORMING MORE THAN 2.6 MILLION SQUARE FEET OF SPACE. THIS HAS CREATED MORE THAN 6,700 CONSTRUCTION JOBS AND CREATED OR PRESERVED MORE THAN 12,500 PERMANENT JOBS IN LOW-INCOME COMMUNITIES. ON AN ANNUAL BASIS, THIS HAS RESULTED IN CREATING CAPACITY FOR MORE THAN 4.6 MILLION ESTIMATED MEDICAL VISITS FOR OVER 1.3 MILLION ESTIMATED PATIENTS ACROSS THE U.S. 3879335 1403083 CLINICAL & QUALITY PARTNERS: PCDC STRENGTHENS SERVICE DELIVERY AND FACILITATES PRACTICE TRANSFORMATION THROUGH TECHNICAL ASSISTANCE THAT MEETS THE UNIQUE NEEDS OF EACH CLIENT. PCDC HELPS PROVIDERS TO UNDERSTAND THEIR CHALLENGES; DEVELOP AND IMPLEMENT STRATEGIES FOR CHANGE; DEFINE CLEAR AND MEASURABLE OUTCOMES; AND SUSTAIN LONG-TERM IMPROVEMENTS. TO DATE, PCDC HAS WORKED WITH MORE THAN 3,000 PRIMARY CARE ORGANIZATIONS (INCLUDING PROVIDING TECHNICAL ASSISTANCE TO OVER 5,000 PRACTICES NATIONWIDE) AND TRAINED MORE THAN 17,000 PROVIDERS AND STAFF. PCDC'S SERVICES INCLUDE BUSINESS AND STRATEGIC PLANNING, OPERATIONAL ANALYSIS, PROJECT MANAGEMENT, PRACTICE COACHING AND FACILITATION, AND STAFF TRAINING IN THE FOLLOWING AREAS (NON-EXHAUSTIVE): - PRACTICE TRANSFORMATION AND MEDICAL HOME RECOGNITIONS TO IMPLEMENT AND SUSTAIN PATIENT-CENTERED MEDICAL HOME RECOGNITION AND OTHER TRANSFORMATION INITIATIVES. - EFFICIENCY AND PATIENT ACCESS TO EXPAND ACCESS AND MAXIMIZE ENCOUNTER VOLUME THROUGH IMPROVED WORKFLOWS, APPOINTMENT AVAILABILITY, AND OTHER INITIATIVES. - PRIMARY & BEHAVIORAL HEALTH CARE INTEGRATION TO IMPLEMENT WHOLE-PERSON APPROACHES TO CARE AND INTEGRATE BEHAVIORAL HEALTH AND PRIMARY CARE. - HIV PREVENTION AND TREATMENT TO SUPPORT HEALTH CARE ORGANIZATIONS TO INTEGRATE HIV PREVENTION AND TREATMENT BEST PRACTICES INTO THEIR CLINICAL SETTINGS. - CARE MANAGEMENT AND COORDINATION TO BUILD AND DEPLOY CARE TEAMS FOR EFFECTIVE CARE MANAGEMENT, POPULATION MANAGEMENT, AND REFERRAL TRACKING. - OPERATIONS IMPROVEMENT AND FINANCIAL SUSTAINABILITY TO DEVELOP AND EXECUTE EFFECTIVE BUSINESS AND STAFFING PLANS AS WELL AS ENHANCE BILLING AND CODING PRACTICES. - TELEMEDICINE TRAINING & ASSISTANCE TO IMPLEMENT AND IMPROVE VIRTUAL CARE DURING AND BEYOND THE COVID-19 PANDEMIC. 1675744 907595 STRATEGY & PUBLIC AFFAIRS: PCDC AIMS TO DEVELOP, SHAPE, AND CONTRIBUTE TO A NARRATIVE THAT EDUCATES AND CHANGES NORMS IN SUPPORT OF HIGH-QUALITY PRIMARY CARE FOR ALL INDIVIDUALS AND FAMILIES. WORKING WITH POLICYMAKERS, TRADE ASSOCIATIONS, HEALTH CARE ORGANIZATIONS, MEDIA OUTLETS, AND INDUSTRY LEADERS, PCDC ADVOCATES FOR POLICIES THAT WILL IMPROVE OUTCOMES AND REDUCE COSTS AND DISPARITIES THROUGH STRONGER AND MORE EQUITABLE PRIMARY CARE. PCDC ALSO REGULARLY PROVIDES THOUGHT LEADERSHIP AND EXPERTISE THROUGH MEETINGS WITH POLICYMAKERS, PUBLIC TESTIMONY, AND COMMENTARY ON KEY POLICY ISSUES.PCDC SUPPORTS THIS WORK WITH RIGOROUS RESEARCH TO BUILD THE EVIDENCE BASE ON DISPARITIES IN ACCESS TO AND AVAILABILITY OF PRIMARY CARE, INCLUDING REGULARLY PUBLISHED REPORTS WHICH ARE FREQUENTLY CITED IN LEADING LOCAL AND NATIONAL MEDIA. 10329485 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 50 0 1 62 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 NY AL AK AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MS NH NJ ND OH OK OR PA RI SC TN UT VA WV WI MN MO NM NC X X DAN LEHMAN 2124373927 45 BROADWAY SUITE 530 NEW YORK NY 10006 CAROL RAPHAEL VICE CHAIR 1.00 X X 0 0 0 CAROLYN TAIN BOARD MEMBER 1.00 X 0 0 0 CHRISTOPHER KOLLER BOARD MEMBER 1.00 X 0 0 0 DAVID A GOULD CHAIR 1.00 X X 0 0 0 DAVID A MANKO BOARD MEMBER 1.00 X 0 0 0 DIANA MASON BOARD MEMBER 1.00 X 0 0 0 DUDLEY BENOIT BOARD MEMBER 1.00 X 0 0 0 GARY M JACOBS BOARD MEMBER 1.00 X 0 0 0 HELEN ARTEAGA LANDAVERDE BOARD MEMBER 1.00 X 0 0 0 HENRY CHUNG BOARD MEMBER 1.00 X 0 0 0 JOHN RUGGE SECRETARY 1.00 X X 0 0 0 JORGE R PETIT BOARD MEMBER 1.00 X 0 0 0 LORI SCOTT BOARD MEMBER 1.00 X 0 0 0 MARK LEVINE BOARD MEMBER (OUTGOING 12/21) 1.00 X 0 0 0 MATT SIEGLER EX OFFICIO BOARD MEMBER 1.00 X 0 0 0 PABLO BRAVO BOARD MEMBER 1.00 X 0 0 0 SARAH GELFAND BOARD MEMBER (OUTGOING 6/22) 1.00 X 0 0 0 SCOTT MORGAN TREASURER 1.00 X X 0 0 0 SUZETTE E GORDON BOARD MEMBER 1.00 X 0 0 0 UDAI TAMBAR BOARD MEMBER 1.00 X 0 0 0 YVETTE P TEOFAN BOARD MEMBER 1.00 X 0 0 0 DANIEL LEHMAN EXE VP/CFO (INCOMING 5/21) 40.00 X 173256 0 1111 LOUISE COHEN CEO 40.00 X 378574 0 21218 MICHAEL ROSEN CFO (OUTGOING 5/21) 40.00 X 155096 0 15661 ANNE DYJAK MNG DIR, CAP INV (OUTGOING 7/21) 40.00 X 154501 0 8610 CYNTHIA SUMMERS MANAGING DIR SPA (INCOMING 2/21) 40.00 X 203226 0 3063 GITA RAO CHIEF CREDIT OFFICER 40.00 X 198862 0 51604 ISAAC KASTENBAUM VP CQP 40.00 X 231166 0 28490 WILLIAM O'BRIEN CHIEF LENDING OFFICER 40.00 X 209335 0 52103 AMY BARNETT DIR OF ADMINISTRATION 40.00 X 158383 0 33079 ANDREW PHILLIP S DIR CLIN & P HLTH (OUTGOING 12/21) 40.00 X 178226 0 24165 DEBORAH JOHNSON SR DIR CQP 40.00 X 172434 0 15721 NANCY LAGER SR DIR, CAPITAL INVESTMENT 40.00 X 176778 0 26449 SHUK HAN LEUNG SR. DIR OF FINANCE 40.00 X 174536 0 38542 2564373 0 319816 26 0 1 0 MCCARTER & ENGLISH LLP 222 E 46TH ST RM 403 NEW YORK NY 10017 LEGAL SERVICES 205697 KOYA LEADERSHIP PARTNERS LLC 29 GREEN STREET NEWBURY PORT MA 01950 RECRUITMENT 178000 HADEN GROUP LLC 825 EIGHTH AVE 31ST FLR NEW YORK NY 10017 IT SERVICES 118721 3 160946 4501418 1825033 6487397 PROGRAM FEES 900099 7021518 7021518 INTEREST ON LOANS 900099 3404948 3404948 10426466 295416 295416 819595 841443 -21848 -21848 -21848 29030 160946 49100 -20070 -20070 MISC. INCOME 900099 565 565 565 17167926 10427031 0 253498 1996806 1323317 663925 9564 4987068 4139257 837921 9890 213200 173083 39913 204 569505 465188 102557 1760 542642 431624 109892 1126 818925 797812 21113 76666 76666 64750 64750 797127 694755 93206 9166 162379 119612 42493 274 272382 191393 75613 5376 548647 421227 125832 1588 135278 124808 10004 466 50615 29302 21313 1259771 1259771 74426 57709 16491 226 82366 500 81866 OTHER EXPENSES 128740 91929 36811 BANK & MISCELLANEOUS 76753 55270 19765 1718 PROVISION FOR DOUBTFUL 45000 45000 DUES & SUBSCRIPTION 27059 19962 7097 -176784 -176784 12753321 10329485 2382478 41358 60550252 65548829 1271389 1219385 718165 967623 52867878 52768908 150814 103130 679243 493436 256846 185807 8627702 6967366 24260 26844 4850331 4180371 129317637 131968263 1842105 1669572 1655341 1596941 46213640 46213640 24493375 23779222 74204461 73259375 X 28372673 35089185 26740503 23619703 55113176 58708888 129317637 131968263 4414605 -818893 0 X X 0 1 X 1 1 1 X 3853234 3196866 4354066 15261916 6487397 33153479 3853234 3196866 4354066 15261916 6487397 33153479 290681 32862798 317035 347997 335439 260218 295416 1556105 190985 32705 53040 450017 29595 756342 35465926 47785390 0.92660 0.64960 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISC INCOME - 2020 AMOUNT: $ 450,017. 2021 AMOUNT: $ 565. FUNDRAISING EVENTS - 2017 AMOUNT: $ 190,985. 2018 AMOUNT: $ 32,705. 2019 AMOUNT: $ 53,040. 2021 AMOUNT: $ 29,030. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 156008 0 0 156008 0 PART II-B, LINE 1: LOBBYING ACTIVITIES INCLUDE OUTREACH TO LOCAL, STATE, AND FEDERAL ELECTED AND APPOINTED OFFICIALS AS WELL AS THEIR RELEVANT AGENCY, DEPARTMENT, AND OFFICE STAFF TO THEM ON PRIMARY CARE ISSUES AND IN NEW YORK CITY AND NEW YORK STATE TO OBTAIN FUNDING FOR PCDC-LED INITIATIVES THAT EXPAND ACCESS TO STRENGTHEN PRIMARY CARE. 375168 282995 92173 120737 79256 41481 183338 131185 52153 185807 DUE TO THIRD PARTY 19565773 DUE TO NEW YORK CITY 487937 DEFERRED RENT 170266 RESERVES AND DEPOSITS PAYABLE 3555246 23779222 X 16423715 -818892 25582 -793310 17217025 -49100 -49100 17167925 12828003 25582 49100 74682 12753321 0 12753321 PART X, LINE 2: PCDC HAS NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2022 AND 2021 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRASING EXPENSES -49,100. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRASING EXPENSES 49,100. GALA 189976 160946 29030 49100 189976 160946 29030 49100 49100 -20070 X X X X X 0 0 0 0 0 0 0 1 0 LOUISE COHEN CEO 332886 0 43402 0 2286 0 18863 0 2355 0 399792 0 0 0 WILLIAM O'BRIEN CHIEF LENDING OFFICER 197943 0 10618 0 774 0 10991 0 41112 0 261438 0 0 0 ISAAC KASTENBAUM VP CQP 226034 0 4988 0 144 0 0 0 28490 0 259656 0 0 0 GITA RAO CHIEF CREDIT OFFICER 188346 0 10246 0 270 0 10492 0 41112 0 250466 0 0 0 SHUK HAN LEUNG SR. DIR OF FINANCE 165158 0 8964 0 414 0 9031 0 29511 0 213078 0 0 0 CYNTHIA SUMMERS MANAGING DIR SPA (INCOMING 2/21) 201783 0 1250 0 193 0 0 0 3063 0 206289 0 0 0 NANCY LAGER SR DIR, CAPITAL INVESTMENT 171215 0 4375 0 1188 0 10252 0 16197 0 203227 0 0 0 ANDREW PHILLIP S DIR CLIN & P HLTH (OUTGOING 12/21) 173670 0 4394 0 162 0 9108 0 15057 0 202391 0 0 0 AMY BARNETT DIR OF ADMINISTRATION 147749 0 8348 0 2286 0 8079 0 25000 0 191462 0 0 0 DEBORAH JOHNSON SR DIR CQP 167680 0 4340 0 414 0 8851 0 6870 0 188155 0 0 0 DANIEL LEHMAN EXE VP/CFO (INCOMING 5/21) 172849 0 0 0 407 0 0 0 1111 0 174367 0 0 0 MICHAEL ROSEN CFO (OUTGOING 5/21) 128342 0 26259 0 495 0 7800 0 7861 0 170757 0 0 0 ANNE DYJAK MNG DIR, CAP INV (OUTGOING 7/21) 150813 0 2500 0 1188 0 7693 0 917 0 163111 0 0 0 PART I, LINE 7 THE CEO AND CFO BONUSES WERE DETERMINED AND AWARDED BY THE BOARD OF DIRECTORS FOLLOWING THE END OF THE FISCAL YEAR, BASED ON ORGANIZATIONAL FINANCIAL RESULTS AND INDIVIDUAL PERFORMANCE AS EVALUATED DURING THE ANNUAL REVIEW PROCESS. BONUSES FOR ALL OTHER STAFF, INCLUDING OTHER KEY EMPLOYEES, WERE DETERMINED AND AWARDED BASED ON ORGANIZATIONAL FINANCIAL RESULTS AND INDIVIDUAL PERFORMANCE AS WELL, IN ACCORDANCE WITH A BOARD-APPROVED BONUS PLAN STRUCTURE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY PCDC AND REVIEWED BY PCDC'S INDEPENDENT ACCOUNTING FIRM. THE 990 IS THEN REVIEWED BY THE FINANCE & AUDIT COMMITTEE AND RECOMMENDED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE RETURN IS CIRCULATED TO THE BOARD OF DIRECTORS IN ADVANCE OF THE MEETING. AFTER APPROVAL THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BOARD MEMBERS REVIEW PCDC'S WRITTEN POLICY AND ATTEST THAT THEY HAVE READ AND WILL ABIDE BY THE POLICY BY SIGNING AN ANNUAL AFFIRMATION OF POLICY ON INTERESTED DIRECTORS. WHEN A DIRECTOR OF PCDC HAS AN INTEREST IN A PCDC MATTER THAT DIRECTOR DISCLOSES THEIR INTEREST TO THE BOARD PRIOR TO ANY DISCUSSION OR VOTE REGARDING THE MATTER; AND THE INTERESTED DIRECTOR ABSENTS HIM OR HERSELF FROM THE DISCUSSION AND/OR VOTES CONCERNING THE MATTER. CONFLICTS ARE REPORTED IN THE BOARD MINUTES. A LIST OF BOARD MATTERS IS COMPILED ANNUALLY FOR BOARD MEMBERS TO REVIEW AND REAFFIRM THEIR DISCLOSURE (S) DURING THE YEAR. SIMILARLY, ALL EMPLOYEES OF PCDC ANNUALLY REVIEW PCDC'S CONFIDENTIALITY AND CONFLICT OF INTEREST POLICIES AND SIGN A STATEMENT ACKNOWLEDGING THEY HAVE RECEIVED, READ AND WILL ABIDE BY THE POLICIES. ANY CONFLICT OF INTERESTS ARE REQUIRED TO BE IMMEDIATELY DISCLOSED TO THE CHIEF EXECUTIVE OFFICER. EMPLOYEES ALSO ANNUALLY REAFFIRM IN WRITING ANY CONFLICT(S), AND DISCLOSURE(S) THEREOF, DURING THE PRIOR YEAR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION COMPARABLE DATA IS COMPILED, EITHER INTERNALLY OR BY AN INDEPENDENT CONSULTANT, ON THE CHIEF EXECUTIVE OFFICER (CEO), CHIEF FINANCIAL OFFICER (CFO) AND KEY EMPLOYEES AND IS REVIEWED BY THE GOVERNANCE COMMITTEE (GC). THE COMPARABLE COMPENSATION DATA IS BASED ON MARKET ANALYSIS AND COMPARISON OF 990S FROM OTHER ORGANIZATIONS WITH SIMILAR MISSIONS, PROGRAMS, BALANCE SHEETS, AND BUDGETS. RECOMMENDATION OF CEO'S AND CFO'S COMPENSATION IS MADE BY THE GC TO THE BOARD FOR ITS DISCUSSION AND APPROVAL. THE GC PROPOSES COMPENSATION AND DETERMINES THE REASONABLENESS OF COMPENSATION IN A PROCESS THAT INCLUDES PERFORMANCE APPRAISALS AND THE REVIEW OF COMPARATIVE COMPENSATION DATA. THE BOARD MAKES THE FINAL DECISION IN AN EXECUTIVE SESSION WITH NO STAFF PRESENT. KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE CEO ANNUALLY BASED PRIMARILY ON PERFORMANCE APPRAISALS AND COMPARABLE COMPENSATION DATA AND IS REVIEWED BY THE GC. FORM 990, PART VI, SECTION C, LINE 19 PCDC'S CONSOLIDATED AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ITS TAX RETURNS INCLUDING FINANCIAL STATEMENTS ARE AVAILABLE TO PUBLIC ONLINE THROUGH THE IRS, GUIDESTAR AND NYS CHARITIES BUREAU WEBSITES. 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PCDC RELATED 1 989 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXVIII LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 824907042 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 4 996 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXX LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852534624 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 1 549 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXXI LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852568577 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 1 622 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXXII LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852615152 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 1 999 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXXIII LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852647296 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 599 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXXIV LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852667723 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXXV LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852701908 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 1000 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXXVI LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852709023 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 0 1 0.00010 PCDC HEALTH OPPORTUNITIES FUND XXXVII LLC C/O PCDC 45 BROADWAY NEWYORK NY 10006 852560563 HEALTH CARE NMTC PROGRAM LOANS NY PCDC RELATED 0 1 0.99000 0 1 0 0 0 0 1 0 0 0 0 1 0 1 1 0 0 0 0 FORM 990, SCHEDULER - PART III: BETWEEN FISCAL YEARS 2007 AND 2022, THE ORGANIZATION WAS AWARDED $378 MILLION IN NMTC ALLOCATION TO FINANCE THE CONSTRUCTION OF HEALTH CENTERS IN LOW-INCOME COMMUNITIES. THE PROGRAM, ADMINISTERED BY THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, A BRANCH OF THE U.S. DEPARTMENT OF THE TREASURY, REQUIRES THAT NONPROFIT AWARD RECIPIENTS CREATE A FOR-PROFIT ENTITY OR ENTITIES THROUGH WHICH THE TAX CREDIT ALLOCATION FLOWS. PURSUANT TO THE AMENDED OPERATING AGREEMENTS FOR ACTIVE NMTC LLCS, THE ORGANIZATION RETAINS A 0.01% OWNERSHIP INTEREST WHEN AN INVESTOR MEMBER IS IDENTIFIED IN EACH ENTITY. AT THAT TIME, THE INVESTOR MEMBER BECAME THE 99.99% OWNER MAKING THE NECESSARY QUALIFIED EQUITY INVESTMENT ("QEI") IN THE LLC WHILE THE ORGANIZATION REMAINS THE MANAGING MEMBER. IN THE INDEMNIFICATION AGREEMENTS WITH EACH INVESTOR THE ORGANIZATION AGREES TO INDEMNIFY INVESTORS IF THERE IS A LOSS OF NMTC RELATED TO THEIR QEI TRIGGERED BY CERTAIN RECAPTURE EVENTS AS DEFINED UNDER THE CODE. THE INDEMNIFICATION AMOUNTS VARY WITH EACH AGREEMENT. ABSENT GROSS OR WILLFUL MISCONDUCT, THE ORGANIZATION'S LIABILITY IS SUBJECT TO THE AFOREMENTIONED INDEMNIFICATION LIMIT IN EACH AGREEMENT WITH AN ESTIMATED AMOUNT TOTALING $18.9 MILLION. THE ORGANIZATION HAS SYSTEMATIC MONITORING PROCEDURES IN PLACE TO AVOID RECAPTURE EVENTS THROUGH TRACKING AND TESTING OF TRANSACTION PAYMENTS, REVIEW OF QUARTERLY FINANCIAL STATEMENTS, CONFIRMATION OF COMPLIANCE CERTIFICATES AND REGULAR MEETINGS OF THE ORGANIZATION NMTC ADVISORY BOARD. UNDER THE TERMS OF THE AMENDED OPERATING AGREEMENTS, THE ORGANIZATION MADE A PROPORTIONAL EQUITY CONTRIBUTION BASED ON EACH QEI AND THE ORGANIZATION'S .01% MEMBERSHIP INTEREST IN EACH NMTC LLC IN DECEMBER 2013, THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH TWO OTHER CDFI'S TO FORM HEALTHCO AS A FINANCING VEHICLE TO PROVIDE INDIRECT FACILITY FINANCING FOR FQHC'S. THE ORGANIZATION IS ONE OF THREE EQUAL MEMBERS AT 33.33%. UNDER THE LIMITED LIABILITY COMPANY AGREEMENT, ANY INCOME OR EXPENSE OF HEALTHCO IS SHARED EQUALLY BY THE THREE MEMBERS. IN JUNE 2022, ALL MEMBERS APPROVED TO THE VOLUNTARY DISSOLUTION OF THE LLC. THE UNWIND PROCESS IS EXPECTED TO COMPLETE IN FISCAL YEAR 2023. DURING THE YEAR 2022, PCDC PFS01 LLC WAS FORMED TO SERVE AS THE INTERMEDIARY ORGANIZATION FOR A PAY FOR SUCCESS ("PFS") INITIATIVE. UNDER THIS PFS MODEL, INVESTORS AND FUNDERS PROVIDE UPFRONT CAPITAL NECESSARY TO SUPPORT COMMUNITY-BASED INTERVENTIONS FOR MEDICAID BENEFICIARIES ENROLLED IN A MANAGED CARE HEALTH PLAN. THESE INTERVENTIONS ARE DESIGNED TO REDUCE UNNECESSARY HEALTHCARE UTILIZATION AND THEREFORE COSTS. THE MEDICAID MANAGED CARE HEALTH PLAN THEN REPAYS THE INVESTORS BASED ON SAVINGS REALIZED FROM IMPROVED OUTCOMES. PCDC PFS01, LLC IS THE BORROWING ENTITY THAT RECEIVES FUNDS FROM THE INVESTORS AND DISBURSES FUNDS TO SERVICE PROVIDERS IN ACCORDANCE WITH THE "PAY FOR SUCCESS" AGREEMENT. THE INVESTOR HAS NO RECOURSE TO PCDC PFS01, LLC EXCEPT FOR THE AMOUNTS IN THE PROJECT OPERATING ACCOUNT. RECEIPTS AND DISBURSEMENTS OF FUNDS ARE IN ACCORDANCE WITH THE APPROVED PROJECT PLAN. THESE FUNDS ARE RECOGNIZED AS AGENCY TRANSACTIONS. AS OF JUNE 30, 2022, CASH AND DUE TO SPONSOR OF $1,399 ARE INCLUDED IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. SCHEDULE R, PART IV: PCDC HAS A LESS THAN 50% OWNERSHIP IN SEVERAL LLC ENTITIES. AS THE OWNERSHIP IS LESS THAN 50%, PCDC IS NOT DEEMED TO HAVE CONTROL, AND THEREFORE ENTITES ARE NOT LISTED ON SCHEDULE R, PART IV.