2022-11-14T09:10:32-08:00 2021-12-31 030483170 CEA Scholtes and Associates 106 Tunbridge Rd Baltimore MD 21212 990 2021-01-01 465504308 HCPI DEVELOPMENT FUND INC CENTRAL BALTIMORE FUTURE FUND HCPI 4107091495 25 EAST 20TH STREET BALTIMORE MD 21218 JOSEPH MCNEELY Chairman 2022-11-14 true JOSEPH MCNEELY 999009999 CHRIS SCHOLTES CPA P01607734 4103230010 2 AAL1 IAL1 FAL1 2021 2022-09-23 18:48:47Z JOSEPH MCNEELY 25 EAST 20TH STREET BALTIMORE MD 21218 1550557 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. 9 9 1 15 0 256210 1276434 208147 187623 -174115 -363416 1384 2005 291626 1102646 0 0 82644 102609 0 0 207208 223625 289852 326234 1774 776412 4056869 4959879 575204 701802 3481665 4258077 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 261082 -183283 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. 261082 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 false false false false false false false false false false false false false true true false false false true 6 0 false 1 true false false false false false false false 0 false false false false false false false X 9 9 false false false false false true true true true false false true true true true true true true false false MD X SESON TAYLOR-CAMPBELL 4107091495 25 EAST 20TH STREET BALTIMORE MD 21218 SARAH KEOGH Executive Dir. 20.00 0.00 X 68847 0 0 JOSEPH MCNEELY Chairman 5.00 0.00 X X 0 0 0 ELLEN JANES Secretary 1.00 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 AMANDA KIMBERS 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 68847 0 false false false 0 915303 361131 1276434 RENTAL INCOME 531120 187623 187623 187623 9495 9495 0 0 0 75000 447911 -372911 -372911 -372911 0 0 0 OTHER INCOME 900099 2005 2005 2005 1102646 -183283 9495 0 0 0 0 68847 61962 6885 0 0 4872 4385 487 20996 18896 2100 7894 7105 789 0 3006 3006 20245 20245 0 0 0 17825 17825 0 20494 10739 9755 0 0 109751 109751 0 0 0 0 0 41986 41986 0 OTHER OPERATING EXPENSES 8735 1827 6908 PAYROLL PROCESSING FEES 1583 1425 158 0 326234 261082 65152 0 515021 1020431 765727 883896 38869 0 5755 10934 0 0 315436 324436 0 31307 24775 2900603 205196 2384754 2695407 0 0 0 0 0 4056869 4959879 51878 74431 510326 627371 13000 575204 701802 X 3481665 4024916 233161 3481665 4258077 4056869 4959879 776412 X false true X false false X 346891 730920 670000 256210 1276434 3280455 0 0 346891 730920 670000 256210 1276434 3280455 0 3280455 664 1850 20463 10383 9495 42855 0 4344 5698 1384 2005 13431 3336741 990235 0.98310 0.98670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 472710 472710 2427893 205196 2222697 2695407 X 1550557 447911 447911 1102646 1102646 774145 447911 447911 326234 326234 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 accorance with the terms of the guarantee agreement. The escrow liability balance including interest totaled $627,371 as of December 31, 2021. 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, 2021 AND 2020. 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 $447911 Part XII, Line 2d: Other expenses and losses per audited F/S COST OF PROPERTY HELD FOR SALE $447911 Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body 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, 501(c)(3) Central Baltimore Partnership. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders 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, 501(c)(3) Central Baltimore Partnership. Form 990, Part VI, Line 11b: Form 990 Review Process THE FORM 990 IS DISTRIBUTED TO THE ENTIRE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts 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, Line 15a: Compensation Review & Approval Process - CEO, Top Management THE BOARD OF DIRECTORS AUTHORIZED THE EXECUTIVE COMMITTEE TO SEARCH FOR, INTERVIEW, CHOOSE AND NEGOTIATE TERMS OF COMPENSATION FOR AN EXECUTIVE DIRECTOR. THE EXECUTIVE COMMITTEE KEPT THE BOARD REGULARLY APPRISED OF THE PROCESS, INCLUDING REPORTING ON PROJECTED COMPENSATION AND CHOICE OF PERSON. IN DETERMINING COMPENSATION, THE EXECUTIVE COMMITTEE CONSIDERED COMPENSATION FOR COMPARABLE POSITIONS, REQUIREMENTS OF THE POSITION, TIME SPENT ON THE JOB, KNOWLEDGE TRAINING AND EXPERIENCE, AND DEGREE. THE ORGANIZATION DID NOT HAVE ANY OTHER PAID EMPLOYEES DURING CALENDAR YEAR 2019. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available 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. BALTIMORE COMMUNITY LLC 25 EAST 20TH STRET BALTIMORE MD 21218 320479920 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 194208 2161937 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 100054 95491 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 3 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 364852259 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 1 -13869 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 4 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 371842313 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 118 52271 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 5 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 320512013 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 9001 310762 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 6 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 371843222 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 780459 721229 HCPI DEVELOPMENT FUND INC BALTIMORE COMMUNITY 7 LLC 25 EAST 20TH STREET BALTIMORE MD 21218 371843244 REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT MD 489 111182 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 501(C)(3) 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 1(M) THE RELATED TAX EXEMPT ORGANIZATION (CBP), LISTED IN SCHEDULE R, PART II, HELPS RAISE MONEY FOR THE FILING ORGANIZATION THROUGH APPLICATIONS FOR FUNDING.