2023-09-12T13:45:27-07:00 2022-12-31 030483170 CEA Scholtes and Associates 106 Tunbridge Rd Baltimore MD 21212 990 2022-01-01 465504308 HCPI DEVELOPMENT FUND INC CENTRAL BALTIMORE FUTURE FUND HCPI 4107091495 25 EAST 20TH STREET BALTIMORE MD 21218 MICHAEL POKORNY Chairman 2023-09-12 true MICHAEL POKORNY 999009999 true CHRIS SCHOLTES CPA P01607734 4103230010 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z MICHAEL POKORNY 871303 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 8 1 12 0 1276434 0 187623 205228 -363416 -142275 2005 0 1102646 62953 165000 0 102609 0 0 0 223625 298757 326234 463757 776412 -400804 4959879 4532988 701802 675715 4258077 3857273 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 417792 165000 52026 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. 417792 true false 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 true false true false false false false false false false false false false false false true true false false false true 3 0 false 1 true false false false false false false false 0 false false false false false false false X 8 8 false false false false false true true true true false false true true true true true true false false false MD X ASHLEY WALLACE CO CBP 4107091495 25 EAST 20TH STREET BALTIMORE MD 21218 ELLEN JANES Secretary/ED of Related Org 1.00 40.00 X X 0 170524 0 JOSEPH MCNEELY Chairman 5.00 0.00 X X 0 0 0 SESON TAYLOR-CAMPBELL Treasurer 1.00 0.00 X X 0 0 0 LEON PINKETT III Director 1.00 0.00 X 0 0 0 THOMAS PREVAS Director 1.00 0.00 X 0 0 0 COLIN TARBERT Director 1.00 0.00 X 0 0 0 SALEM REINER Director 1.00 0.00 X 0 0 0 KRISTINA WILLIAMS Director 1.00 0.00 X 0 0 0 170524 0 false true false 0 0 RENTAL INCOME 531120 205228 205228 205228 10927 10927 0 0 0 655148 808350 -153202 -153202 -153202 0 0 0 0 62953 52026 10927 X 165000 165000 0 0 0 0 0 0 0 0 0 0 13460 13460 35240 35240 0 0 0 100278 99263 1015 0 15564 7554 8010 0 0 72493 72493 0 0 0 0 0 41986 41986 0 BAD DEBT EXPENSE 15937 15937 OTHER OPERATING EXPENSES 3799 2099 1700 0 463757 417792 45965 0 1020431 1138325 883896 887450 0 10934 13497 0 0 324436 633436 0 24775 15209 2092253 247182 2695407 1845071 0 0 0 0 0 4959879 4532988 74431 46075 627371 629640 701802 675715 X 4024916 3624112 233161 233161 4258077 3857273 4959879 4532988 -400804 X false true X false false X 730920 670000 256210 1276434 2933564 0 0 730920 670000 256210 1276434 2933564 0 2933564 1850 20463 10383 9495 10927 53118 0 4344 5698 1384 2005 13431 3000113 1018901 0.97780 0.98310 X false true X 472690 472690 1619563 247182 1372381 1845071 X 890503 19200 808350 827550 62953 62953 1291307 19200 808350 827550 463757 463757 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 $514,391 as of December 31, 2022. As part of a purchase and sale agreement entered during 2021, the Organization is holding $115,000 in escrow to be released to the buyer of 3100 Greenmount Avenue upon completion of the obligation outlined in the purchase and sale agreement. The escrow is non-interest bearing. The escrow liability balance totaled $115,249 as of December 31, 2022. Part X : FIN48 Footnote ASC 740, INCOME TAXES, PRESCRIBES A RECOGNITION THRESHOLD AND A MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AS WELL AS GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND FINANCIAL STATEMENT REPORTING DISCLOSURES. FOR THESE BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST BE MORELIKELY- THAN NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE AMOUNT RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE ORGANIZATION HAS NOT IDENTIFIED ANY UNRECOGNIZED TAX EXPOSURES. THE ORGANIZATION RECOGNIZES INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX EXPOSURES AS A COMPONENT OF INCOME TAX EXPENSE. THE ORGANIZATION DOES NOT HAVE ANY AMOUNTS ACCRUED RELATING TO INTEREST AND PENALTIES AS OF DECEMBER 31, 2022 AND 2021. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 COST OF PROPERTY HELD FOR SALE $808350 Part XII, Line 2d: Other expenses and losses per audited F/S COST OF PROPERTY HELD FOR SALE $808350 true Jubilee Baltimore Inc 25 E 20th Street Baltimore MD 21218 521222237 501(c)(3) 165000 0 Exempt contribution for redevelopment activities 1 0 Grantmaker's Description of How Grants are Used The HCPI Development Fund, Inc. (the Organization) receives monthly construction monitoring and reporting. This is achieved by copying the Organization on reporting being furnished to the lender. At least quarterly, Jubilee Baltimore will meet with the Organization representatives to provide detailed updates on the status of the project, along with the projects consultants, project manager, and/or general contractor. false false false false false false false false false ELLEN JANES Secretary/ED of Related Org 170524 170524 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 VI, Section B, Line15(a) There were no compensated employees in 2022. Payroll entry is carried over from termination of ED from previous year. BALTIMORE COMMUNITY LLC 25 EAST 20TH STRET BALTIMORE MD 21218 320479920 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 205282 1903294 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 52 8721 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 3 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 364852259 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 1 1738 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 4 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 371842313 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 175 203401 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 5 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 320512013 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 9001 335068 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 7 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 371843244 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 165541 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 8 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 384020366 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 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 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. PART I DURING FEBRUARY 2022, THE ORGANIZATION ASSIGNED THE MEMBER INTEREST IN BALTIMORE COMMUNITY 6, LLC TO A THIRD PARTY.