2025-05-07T13:15:26-07:00 2024-06-30 030483170 C E A SCHOLTES AND ASSOCIATES 106 TUNBRIDGE ROAD BALTIMORE MD 21212 990 2023-07-01 465504308 HCPI DEVELOPMENT FUND INC CENTRAL BALTIMORE FUTURE FUND HCPI 4107091495 25 EAST 20TH STREET BALTIMORE MD 21218 MICHAEL POKORNY Chairman 2025-05-07 true true CHRIS SCHOLTES CPA P01607734 4103230010 2023 2025-03-06 01:10:19Z MICHAEL POKORNY 1369888 false X CBFUTUREFUND.ORG X 2013 MD TO INCREASE ECONOMIC ACTIVITY, DECREASE THE INCIDENCE OF VACANT PROPERTIES, AND PROMOTE COMMUNITY DEVELOPMENT INVESTMENTS BENEFITING LOW TO MODERATE INCOME COMMUNITIES IN TEN CENTRAL BALTIMORE NEIGHBORHOODS THAT HAVE LONG SUFFERED DETERIORATION AND BLIGHT. 8 7 0 10 0 54484 1093158 115271 243769 5947 20464 1103 12497 176805 1369888 0 0 24443 1236 0 0 105281 401337 129724 402573 47081 967315 4573582 8803873 669228 3929704 3904354 4874169 THE PURPOSE OF THE CENTRAL BALTIMORE FUTURE FUND IS TO STIMULATE INCLUSIVE ECONOMIC GROWTH AND ATTRACT INVESTMENT IN THE TEN CENTRAL BALTIMORE NEIGHBORHOODS BY: 1 PARTNERING WITH REINVESTMENT FUND TO MAKE LOANS TO TRANSFORMATIONAL HIGH IMPACT COMMERCIAL, RESIDENTIAL AND NEIGHBORHOOD DEVELOPMENT PROJECTS 2 ACQUIRING AND OFFERING TO DEVELOPERS VACANT AND BLIGHTED PROPERTIES FOR REDEVELOPMENT AND 3 PROVIDING ADVISORY SERVICES TO MEMBERS OF THE PUBLIC THAT FACILITATE A DECREASE OF VACANT AND ABANDONED PROPERTIES IN WAYS THAT SUPPORT COMMUNITY PLANS AND OBJECTIVES. false false 322392 256266 THE PURPOSE OF THE CENTRAL BALTIMORE FUTURE FUND IS TO STIMULATE INCLUSIVE ECONOMIC GROWTH AND ATTRACT INVESTMENT IN THE TEN CENTRAL BALTIMORE NEIGHBORHOODS BY: 1 PARTNERING WITH REINVESTMENT FUND TO MAKE LOANS TO TRANSFORMATIONAL HIGH IMPACT COMMERCIAL, RESIDENTIAL AND NEIGHBORHOOD DEVELOPMENT PROJECTS 2 ACQUIRING AND OFFERING TO DEVELOPERS VACANT AND BLIGHTED PROPERTIES FOR REDEVELOPMENT AND 3 PROVIDING ADVISORY SERVICES TO MEMBERS OF THE PUBLIC THAT FACILITATE A DECREASE OF VACANT AND ABANDONED PROPERTIES IN WAYS THAT SUPPORT COMMUNITY PLANS AND OBJECTIVES. 322392 true true false false false false false false true false true false false false false true false true false false false false false false false false false false false true false false false false false false false false false false false false true true true false false false true 5 0 false 0 false false false false false false false 0 false false false false false false false X 8 7 false false false false false true true true true false false true true true true true true false false false MD X X ASHLEY WALLACE CO CBP 4107091495 25 EAST 20TH STREET BALTIMORE MD 21218 ELLEN JANES Secretary/ED of Related Org 5.00 40.00 X X 0 173056 0 Michael Pokorny Chairman 1.00 0.00 X X 0 0 0 Leon Pinkett III Treasurer 1.00 0.00 X X 0 0 0 Amy Bonitz Director 2.00 0.00 X 0 0 0 Tamir Ezzat Director 2.00 0.00 X 0 0 0 Peter Jackson Director 1.00 0.00 X 0 0 0 Joseph McNeely Chair emeritus 1.00 0.00 X 0 0 0 Ernst Valery Director 0.25 0.00 X 0 0 0 173056 0 false true false 0 1085159 7999 1093158 RENTAL INCOME 531120 243769 243769 243769 20464 20464 0 0 0 0 0 0 0 OTHE INCOME 900099 12497 12497 12497 1369888 256266 20464 0 0 0 0 1236 1112 124 0 0 0 0 0 115214 94780 20434 0 0 0 0 0 0 0 35109 28127 6982 0 0 137411 137411 0 0 0 51701 51701 0 58541 58541 0 OTHER OPERATING EXPENSES 3361 2421 940 0 402573 322392 80181 0 1041013 951826 870433 800139 54484 1094388 13074 11373 0 0 637899 657923 0 12517 67751 5447383 323577 1884162 5123806 0 60000 0 0 0 96667 4573582 8803873 57671 125520 611557 518151 3286033 669228 3929704 X 3734747 4874169 169607 3904354 4874169 4573582 8803873 X 967315 2500 X false true X false false X 256210 1276434 54484 1093158 2680286 0 0 256210 1276434 54484 1093158 2680286 0 2680286 10383 9495 10927 5947 20464 57216 0 1384 2005 1103 12497 16989 2754491 960038 0.97310 0.97100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 2394820 2394820 3052563 323577 2728986 5123806 X 1703085 333197 333197 1369888 1369888 735770 333197 333197 402573 402573 Part IV, Line 2b: Explanation of escrow account liability In January 2018, the Organization received $500,000 from the City of Baltimore to be held by the Organization in a separately maintained escrow account. Any interest accrued on the funds within the escrow account shall become part of the escrow account. The Organization has agreed to hold and disburse the funds on behalf of the City of Baltimore in accordance with the terms of the guarantee agreement. The escrow liability balance including interest totaled $518,151 and $516,557 as of June 30, 2024 and 2023, respectively. As part of a purchase and sale agreement entered during 2021, the Organization is holding in escrow to be released to the buyer of 3100 Greenmount Avenue upon completion of the obligations outlined in the purchase and sale agreement. The escrow is non-interest bearing. The escrow liability balance totaled $0 and $95,000 as of June 30, 2024 and 2023, respectively. Part X : FIN48 Footnote THE ORGANIZATION IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INERNAL REVENUE CODE. THEREFORE, THERE IS NO PROVISION FOR INCOME TAXES IN THESE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION'S EVALUATION ON JUNE 30, 2024 REVEALED NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE CONSOLIDATED FINANCIAL STATEMENTS. THE PREVIOUS THREE (3) TAX YEARS REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE ORGANIZATION DOES NOT BELIEVE THAT ANY REASONABLY POSSIBLE CHANGES WILL OCCUR WITHIN THE NEXT TWELVE (12) MONTHS THAT WILL HAVE A MATERIAL IMPACT ON THE CONSOLIDATED FINANCIAL STATEMENTS. false false false false false false false false false ELLEN JANES Secretary/ED of Related Org 173056 173056 Form 990, Part VI, Section A, Line 7a As detailed in the organization's 1023, the board of directors of the HCPI Development Fund is elected by the board of directors of the non-profit, 501c3 Central Baltimore Partnership. Form 990, Part VI, Section A, Line 7b As detailed in the organization's 1023, the board of directors of the HCPI Development Fund is elected by the board of directors of the non-profit, 501c3 Central Baltimore Partnership. Form 990, Part VI, Section B, Line 11b THE FORM 990 IS DISTRIBUTED TO THE ENTIRE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING. Form 990, Part VI, Section B, Line 12c THE ORGANIZATION CONTINUOUSLY MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY. EACH BOARD MEMBER ANNUALLY SIGNS A CONFLICT OF INTEREST STATEMENT STATING THEY HAVE NO CONFLICT OF INTEREST RELATING TO ISSUES SUBJECT TO BOARD ACTION AND APPROVAL. IN ADDITION, ANY PAYMENTS OF ANY EXTERNAL PARTY RELATED TO A BOARD MEMBER IS DISCLOSED TO THE ENTIRE BOARD IF A CONFLICT IS PERCEIVED THAT A BOARD MEMBER DOES NOT BELIEVE IS A CONFLICT, IT WOULD BE DISCUSSED BY THE EXECUTIVE COMMITTEE, AND IF NECESSARY IT MIGHT CHOOSE TO REQUIRE THE BOARD MEMBER TO RECUSE HIM/HERSELF FROM ANY DISCUSSION OR BOARD ACTION. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. A COPY OF THE FORM 990 IS ALSO AVAILABLE ONLINE VIA WWW. GUIDESTAR.ORG. Form 990, Part XI, Line 9 NONCONTROLLING INTEREST - MEMBER CONTRIBUTION = $2500 FORM 990, PART VI, SECTION B, LINE 15A THERE WERE NO COMPENSATED EMPLOYEES IN 2023. PAYROLL ENTRY IS CARRIED OVER FROM TERMINATION OF ED FROM PREVIOUS YEAR. SCHEDULE A, PART II THE ORGANIZATION CHANGED ITS FISCAL YEAR ON THE PREVIOUSLY FILED FORM 990, FILING A SHORT PERIOD RETURN FOR THE PERIOD 1/1/2023 UNTIL 06/30/2023. THE INFORMATION PRESENTED ON SCHEDULE A, PART II FOR TAX YEARS 2023, 2022, 2021, 2020, AND 2019 IS FOR THE YEARS ENDED 6/30/24, 6/30/23, 12/31/22, 12/31/21 AND 12/31/2020, RESPECTIVELY. BALTIMORE COMMUNITY LLC 25 EAST 20TH STRET BALTIMORE MD 21218 320479920 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 227091 2323021 HCPI DEVELOPMENT FUND INC HCPI CONSULTING LLC 25 EAST 20TH STREET BALTIMORE MD 21218 352547010 CONSULTING SERVICES FOR COMMUNITY MD HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 2 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 300960416 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD -5691 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 3 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 364852259 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD -15046 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 4 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 371842313 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD -352 -69463 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 5 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 320512013 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 9025 332073 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 7 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 371843244 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 166415 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 9 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 300960412 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 10 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 364853153 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD HCPI DEVELOPMENT FUND INC CENTRAL BALTIMORE PARTNERSHIP INC 25 EAST 20TH STREET SUITE 140 BALTIMORE MD 21218 262842736 NEIGHBORHOODS REVITALIZATION MD 501C3 7 NA false NORTH AVENUE MARKET DEVELOPMENT LLC 25 EAST 20TH STREET BALTIMORE MD 21218 933043487 REDEVELOPMENT MD HCPI RELATED false true 0.50000 false false false false false false false false false false false false true false false false false false false PART V, LINE 1M THE RELATED TAX EXEMPT ORGANIZATION CBP, LISTED IN SCHEDULE R, PART II, HELPS RAISE MONEY FOR THE FILING ORGANIZATION THROUGH APPLICATIONS FOR FUNDING, AND CONDUCTS COMMUNITY AND STAKEHOLDER OUTREACH FOR PROJECTS.