2021-09-28T11:42:02-07:00 2020-12-31 030483170 CEA Scholtes and Associates 106 Tunbridge Rd Baltimore MD 21212 990 2020-01-01 465504308 HCPI DEVELOPMENT FUND INC CENTRAL BALTIMORE FUTURE FUND HCPI 4107091495 25 EAST 20TH STREET BALTIMORE MD 21218 JOSEPH MCNEELY Chairman 2021-09-28 true JOSEPH MCNEELY 999009999 CHRIS SCHOLTES CPA P01607734 4103230010 2 AAL1 IAL1 FAL1 2020 2022-09-23 18:48:47Z JOSEPH MCNEELY 25 EAST 20TH STREET BALTIMORE MD 21218 501626 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 670000 256210 208620 208147 5648 -174115 5698 1384 889966 291626 0 0 68032 82644 0 0 189277 207208 257309 289852 632657 1774 4237717 4056869 757826 575204 3479891 3481665 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 236081 24531 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. 236081 true true false false false false false false true false true false false false true 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 false false false false true 5 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 false false 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 68176 0 0 ANDREW FRANK Chairman 5.00 0.00 X X 0 0 0 DAVID STROUSE Vice President 3.00 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 BILL COLE Director 1.00 0.00 X 0 0 0 JALAL GREENE Director 1.00 0.00 X 0 0 0 JOSEPH MCNEELY 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 68176 0 false false false 0 169000 87210 256210 RENTAL INCOME 531120 208147 208147 208147 10885 10885 0 0 0 25000 210000 -185000 -185000 -185000 0 0 0 OTHER INCOME 900099 1384 1384 1384 291626 24531 10885 0 0 0 0 66189 59570 6619 0 0 2957 2661 296 8460 7614 846 5038 4534 504 0 1083 1083 33987 33987 0 0 0 10800 10800 0 13463 4036 9427 0 0 80010 80010 0 0 0 502 502 0 41942 41942 0 BAD DEBT EXPENSE 17946 17946 OTHER OPERATING EXPENSES 6232 4766 1466 PAYROLL PROCESSING FEES 1243 1119 124 0 289852 236081 53771 0 368968 515021 761217 765727 210000 38869 6352 5755 0 0 382466 315436 0 33546 31307 2549103 164349 2475168 2384754 0 0 0 0 0 4237717 4056869 40505 51878 507321 510326 210000 13000 757826 575204 X 3479891 3481665 3479891 3481665 4237717 4056869 1774 X false true X false false X 1355000 346891 730920 670000 256210 3359021 0 0 1355000 346891 730920 670000 256210 3359021 0 3359021 429 664 1850 20463 10383 33789 0 4344 5698 1384 11426 3404236 899814 0.98670 0.99140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true 472710 472710 2076393 164349 1912044 2384754 REFUNDABLE ADVANCE - PPP LOAN 13000 13000 X 572293 71169 210000 281169 291124 502 502 291626 570519 71169 210000 281169 289350 502 502 289852 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, 2020 AND 2019. 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 $210000 Part XII, Line 2d: Other expenses and losses per audited F/S COST OF PROPERTY HELD FOR SALE $210000 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. 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