2022-05-09T16:38:02-05:00 2021-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2021-01-01 133154100 LEVITICUS 2523 ALTERNATIVE FUND INC LEVI 9149094498 220 WHITE PLAINS ROAD 125 TARRYTOWN NY 10591 GREGORY MAHER EXECUTIVE DIRECTOR 9149094498 2022-05-02 1 GREGORY MAHER XXX-XX-XXXX JUSTIN K LEROUX CPA P01722988 5083669100 2022-05-02 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z GREGORY MAHER 220 WHITE PLAINS ROAD 125 TARRYTOWN NY 10591 6314122 0 X WWW.LEVITICUSFUND.ORG X 1983 NY PROVIDE LOANS TO ORGANIZATIONS FOR THE BENEFIT OF ECONOMICALLY DISADVANTAGED INDIVIDUALS, FAMILIES AND COMMUNITIES. 13 13 9 13 0 0 3671710 2802350 2901603 3474657 48949 32353 3987 4762 6626249 6314122 0 0 0 0 868298 1112043 0 0 95006 1931013 2216468 2799311 3328511 3826938 2985611 56805740 67729825 39617114 47681395 17188626 20048430 X THE LEVITICUS 25:23 ALTERNATIVE FUND IS ROOTED IN FAITH AND THE CALL FOR ECONOMIC JUSTICE. THE FUND CREATES OPPORTUNITIES FOR VULNERABLE, LOW-INCOME PEOPLE - ESPECIALLY THOSE HARMED BY SYSTEMIC RACIAL AND ETHNIC DISCRIMINATION - BY PROVIDING FLEXIBLE CAPITAL, EXPERTISE, AND ADVOCACY TO SUPPORT MORE EQUITABLE COMMUNITIES. 0 0 2904011 3479419 THE LEVITICUS FUND'S FLEXIBLE CAPITAL AND TECHNICAL ASSISTANCE SUPPORT A RANGE OF COMMUNITY DEVELOPMENT PROJECTS SERVING LOW-INCOME COMMUNITIES AND LOW-INCOME INDIVIDUALS AND FAMILIES. IN 2021, OUR LENDING ACTIVITIES INCLUDED THE FOLLOWING CLOSED LOANS:23 LOANS TOTALING $27,298,070, WHICH PARTIALLY FINANCED 1,535 HOUSING UNITS, INCLUDING 430 UNITS OF AFFORDABLE AND SUPPORTIVE UNITS; 1 LOAN TOTALING $2,000,000, WHICH PARTIALLY FINANCED NEW CONSTRUCTION OF A 16,000 SF FULL-SERVICE GROCERY STORE IN A USDA-DESIGNATED FOOD DESERT NEIGHBORHOOD; 1 LOAN TOTALING $2,500,000 WHICH SUPPORTED CONSTRUCTION OF A NEW 120-BED MENTAL HEALTH SHELTER FOR MEN. 2904011 1 1 0 0 0 0 0 0 0 0 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 8 0 1 9 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 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 125 TARRYTOWN NY 10591 MR GREGORY MAHER EXECUTIVE DIRECTOR 40.00 X 208023 0 47111 MR KEVIN MCQUEEN DIRECTOR OF LENDING 40.00 X 145288 0 30907 MR JOSE RIVERA FINANCE DIRECTOR 40.00 X 131133 0 10863 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 MS TONI PALAMAR BOARD TREASURER 0.50 X X 0 0 0 SR ELLENRITA PURCARO OP BOARD SECRETARY 0.50 X X 0 0 0 MS SHONA ST ANGELO BOARD MEMBER 0.50 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 REV JULIUS WALLS BOARD MEMBER 0.50 X 0 0 0 MR JONATHAN HUMMEL BOARD MEMBER 0.50 X 0 0 0 484444 0 88881 3 0 1 0 0 1826265 976085 2802350 INTEREST, PROJECT LOAN 523000 3133724 3133724 COMMITMENT/CLOSING FEE 523000 340933 340933 3474657 32353 32353 OTHER FEES 900099 4762 4762 4762 6314122 3479419 0 32353 397127 279318 105053 12756 549229 416869 87086 45274 49838 36751 9118 3969 53043 43917 7573 1553 62806 45952 12918 3936 42000 42000 153034 122867 20167 10000 33287 21220 7698 4369 37146 23681 8590 4875 50031 31894 11570 6567 1090 695 252 143 1777 150 1627 1100352 1100352 8711 8454 257 NET LOAN LOSS PROVISION 764294 764294 0 0 MISCELLANEOUS 15168 1491 13370 307 DUES AND SUBSCRIPTIONS 9578 6106 2215 1257 3328511 2904011 329494 95006 1373695 915743 5257042 10487944 12612 38680 22553 36971 82758 82758 257 0 49844158 55870390 295423 380097 56805740 67729825 87585 71129 50118 83432 39251029 47300324 228382 226510 39617114 47681395 X 14272106 16579475 2916520 3468955 17188626 20048430 56805740 67729825 2985611 -125807 0 X X 0 1 X 1 1 1 X 803438 2086780 2374205 3671710 2802350 11738483 1625245 1725729 2311501 2901603 3474657 12038735 2428683 3812509 4685706 6573313 6277007 23777218 500000 100000 600000 688398 532063 561798 501201 858746 3142206 1188398 532063 661798 501201 858746 3742206 20035012 28482 51137 85008 48949 32353 245929 28482 51137 85008 48949 32353 245929 2964 6836 3396 3987 4762 21945 2460129 3870482 4774110 6626249 6314122 24045092 0.83320 0.79310 0.01020 0.01270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31300 31300 0 51458 51458 0 0 NOTES RECEIVABLE 55870390 C 55870390 INTEREST PAYABLE 207550 DEFERRED RENT 18960 226510 X 6664130 350008 350008 6314122 0 6314122 3678519 350008 350008 3328511 0 3328511 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, 2021. X X 0 0 0 0 0 0 0 0 0 MR GREGORY MAHER EXECUTIVE DIRECTOR 198023 0 10000 0 0 0 19802 0 27309 0 255134 0 0 0 MR KEVIN MCQUEEN DIRECTOR OF LENDING 142288 0 3000 0 0 0 11400 0 19507 0 176195 0 0 0 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.