2023-11-14T15:09:55-08:00 2023-04-30 820467399 Rudd & Company PLLC 725 S Woodruff Ave Idaho Falls ID 83401 990 2022-05-01 820461980 IDAHO COMMUNITY REINVESTMENT CORPORATION IDAH 2088696890 PO BOX 2002 BOISE ID 83701 JEFFREY JONES President 2023-11-14 true JEFFREY JONES 999009999 true SCOTT BOND P00211925 2085299276 0 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z PO BOX 2002 BOISE ID 837012002 712106 false X N/A X 1993 ID THE CORPORATION SHALL EXIST TO PROVIDE FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE DEVELOPMENT OF AFFORDABLE HOUSING IN THE STATE OF IDAHO AND TO OTHERWISE SUPPORT COMMUNITY DEVELOPMENT AND REDEVELOPMENT NEEDS. 11 11 0 12 0 0 719239 710330 2442 1776 0 721681 712106 0 0 38925 53627 0 0 661938 661244 700863 714871 20818 -2765 13168892 11334749 11802909 9971531 1365983 1363218 THE CORPORATION SHALL EXIST TO PROVIDE FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE DEVELOPMENT OF AFFORDABLE HOUSING IN THE STATE OF IDAHO AND TO OTHERWISE SUPPORT COMMUNITY DEVELOPMENT AND REDEVELOPMENT NEEDS. false false 614491 710330 SINCE INCEPTION, ICRC HAS PROVIDED LONG-TERM FINANCING AND RELATED REFINANCING ACTIVITIES FOR 2,093 MULTI-FAMILY AFFORDABLE HOUSING UNITS IN THE STATE OF IDAHO. THE PRIMARY FOCUS OF THESE UNITS IS TO PROVIDE HOUSING FOR TENANTS EARNING FROM 30% TO 60% OF THE AREA MEDIAN INCOME. ICRC'S PRIMARY MISSION IS PROVIDING FINANCING TO SUPPORT AFFORDABLE HOUSING BY ACTIVELY MARKETING COMPETITIVE LOAN PRODUCTS TO ENCOURAGE DEVELOPERS TO PROVIDE MULTIFAMILY AND SENIOR AFFORDABLE HOUSING IN IDAHO. 614491 true false false false false false false false false false true false true false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true X 3 0 true 0 false false false false false false false 0 false false false false false false false X 11 11 false false false false true true true true true false false true true true true true false true false false X BOB BARBER 2088696890 PO BOX 2002 BOISE ID 837012002 MATTHEW T FAST Executive Dir. 10.00 0.00 X 53627 0 0 MATTHEW GILGEN PAST PRESIDENT 2.00 0.00 X X 0 0 0 JEFFREY JONES President 1.00 0.00 X X 0 0 0 MICHAEL TRUEBA Treasurer 1.00 0.00 X X 0 0 0 DEANNA WATSON GOVERNMENT REP. 1.00 0.00 X X 0 0 0 MIKE MORRISON LOAN COMMITTEE 2.00 0.00 X X 0 0 0 DAVID FREW Director 0.30 0.00 X 0 0 0 DAVID HALL Director 0.30 0.00 X 0 0 0 JANE PAVEK ALT. CHAIRCOM 0.30 0.00 X 0 0 0 LISA STODDARD Director 0.30 0.00 X 0 0 0 MIKE SAUTEBIN Director 0.30 0.00 X 0 0 0 SUNNY SHAW Director 0.30 0.00 X 0 0 0 53627 0 false false false 0 0 FUNDRAISING INCOME 522291 4809 4809 INTEREST & FEES ON LOANS 522291 614292 614292 PENALTIES & LATE FEES 522291 28743 28743 SERVICING FEES INCOME 522291 62486 62486 710330 1776 1776 0 0 0 0 0 0 0 0 712106 710330 1776 0 0 0 0 53627 53627 0 0 0 0 0 0 0 18883 18883 0 0 0 0 2505 2505 1039 1039 0 0 0 1951 1951 0 0 590163 590163 0 0 0 LOAN SERVICING COSTS 24328 24328 LOAN PORTFOLIO MONITOR 22137 22137 BANK CHARGES 238 238 0 714871 614491 100380 0 524774 1077280 863640 259462 0 0 0 0 0 0 0 50000 50000 0 0 11723955 9903723 0 56523 44284 13168892 11334749 5715 8927 11740325 9916876 56869 45728 11802909 9971531 X 1365983 1363218 1365983 1363218 13168892 11334749 -2765 X false true X true false X 0 1031221 824715 739108 719239 710330 4024613 0 0 0 1031221 824715 739108 719239 710330 4024613 0 0 4024613 5681 8856 4636 2442 1776 23391 0 5681 8856 4636 2442 1776 23391 0 0 1036902 833571 743744 721681 712106 4048004 0.99420 0.99430 0.00580 0.00570 X 50000 50000 50000 9903723 INTEREST PAYABLE 44172 SERVICING FEE PAYABLE 1556 45728 X 712106 712106 712106 714871 714871 714871 Part X : FIN48 Footnote PART X, LINE 2:MANAGEMENT BELIEVES THAT THE CORPORATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE CORPORATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. Form 990, Part VI, Section B, Line 11b THE VICE PRESIDENT/AUDIT COMMITEE CHAIR OF ICRC, JEFFREY JONES, WILL EMAIL THE ENTIRE COMPLETED FORM 990 TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO ITS FILING BY EIDE BAILLY, WITH A REQUEST THAT BOARD MEMBERS RESPOND WITHIN 5 BUSINESS DAYS IF THEY HAVE QUESTIONS OR CONCERNS. Form 990, Part VI, Section C, Line 19 No documents available to the public. FORM 990, PART V, LINE 2: THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES. THE EXECUTIVE DIRECTOR IS COMPENSATED AS AN INDEPENDENT CONTRACCTOR AND IS ISSUED A FORM 1099. FORM 990, PART VI, SECTION A, LINE 1A THE GOVERNING BODY DELEGATES BROAD AUTHORITY TO THE EXECUTIVE COMMITTEE FOR THE DAILY OPERATIONAL MANAGEMENT OF THE ORGANIZATION. THE EXECUTIVE COMMITTEE CONSISTS OF THE PRESIDENT, VICE PRESIDENT, SECRETARY/TREASURER, AUDIT CHAIR, AND EXECUTIVE DIRECTOR. AUTHORIZATION TO COMMIT LOANS TO DEVELOPERS IS THE RESPONSIBILITY OF THE LOAN COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6: THE ORGANIZATION HAS ONE CLASS OF MEMBERS FORM 990, PART VI, SECTION A, LINE 7A: THE MEMBER FINANCIAL INSTITUTIONS ELECT THE MEMBERS OF THE BOARD OF DIRECTORS. VOTING POWER IS WEIGHTED ANNUALLY DEPENDING ON THE PERCENTAGE OF IDAHO DOMESTIC DEPOSIT ACCOUNTS EACH MEMBER REPORTS TO THE FDIC AS OF JUNE 30. FORM 990, PART VI, SECTION A, LINE 7B: WRITTEN MEMBER APPROVAL IS REQUIRED FOR AMENDMENTS TO CERTAIN DEFINITIONS, COMMITMENTS TO FUND LOANS, CONSENT TO BE BOUND BY THE BYLAWS, AND AMENDMENTS TO THE CONSENT SECTION. FORM 990, PART VI, SECTION B, LINE 12C: THE CONFLICT OF INTEREST POLICY COVERS CURRENT BOARD MEMBERS, OFFICERS, AND LOAN COMMITTEE MEMBERS. IF A CONFLICT ARISES DURING THE YEAR, IT IS ADDRESSED AT A BOARD MEETING. IF IT NEEDS IMMEDIATE ATTENTION, THE EXECUTIVE DIRECTOR HANDLES IT. IF THE EMPLOYER OF A LOAN COMMITTEE MEMBER IS FINANCING THE CONSTRUCTION PORTION OF A DEVELOPER LOAN, THAT MEMBER ABSTAINS FROM VOTING ON THE ICRC LOAN. FORM 990, PART VI, SECTION B, LINE 15A: COMPENSATION FOR EXECUTIVE DIRECTOR POSITION IS SET BY THE EXECUTIVE COMMITTEE AND REVIEWED ON AN ANNUAL BASIS. ICRC RELIES ON THE EXECUTIVE COMMITTEE'S EXPERIENCE IN THE BANKING AND NON-PROFIT INDUSTRIES TO DETERMINE REASONABLENESS OF COMPENSATION FOR THE EXECUTIVE DIRECTOR POSITION. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION'S ARTICLES OF INCORPORATION ARE FILED WITH THE IDAHO SECRETARY OF STATE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.