2020-09-15T12:05:00-05:00 2020-04-30 450250958 EIDE BAILLY LLP 877 W MAIN ST STE 800 BOISE ID 83702 990 2019-05-01 820461980 Idaho Community Reinvestment Corporation IDAH 2088696890 PO Box 2002 Boise ID 837012002 Deanna Watson President 2088507893 2020-09-11 1 Kim Hunwardsen CPA P00484560 2083447150 2020-09-11 216.147.181.48 2020-09-11 11:07:28 MD P 99DE7F0055664D0EF045F5175E4DD0F280CDACD0 97EB6110309024483FFE98DE47929FE8D7110B9D 2019 2021-01-29 14:40:06Z Deanna Watson PO Box 2002 Boise ID 837012002 833571 0 X N/A X 1993 ID To provide financing and technical assistance to facilitate development of affordable housing 12 12 0 14 0 0 0 0 1031221 824715 5681 8856 -4539 0 1032363 833571 0 0 0 0 0 0 0 0 0 979771 773876 979771 773876 52592 59695 15449448 14035686 14172581 12699124 1276867 1336562 The corporation shall exist to provide financing and technical assistance to facilitate development and preservation of affordable housing in the State of Idaho and to otherwise support community development and redevelopment needs. 0 0 729151 824715 Since inception, ICRC has provided long-term financing and related refinancing activities for 2,063 multi-family affordable housing units in the State of Idaho. The primary focus for these units is 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. 729151 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 0 0 0 X Bob Barber 2088696890 1385 Pioneer Rd Weiser ID 83672 X X Deanna Watson President 2.00 X X 0 0 0 Matthew Gilgen Vice President 1.00 X X 0 0 0 Michael Trueba Secretary/Treasurer 1.00 X X 0 0 0 Jane Pavek Immediate Past President 1.00 X X 0 0 0 Jeffrey Jones Audit Committee Chair 1.00 X X 0 0 0 Bryan Churchill Loan Committee Chair 2.00 X X 0 0 0 Jason Wey Director (Until 01/2020) 0.30 X 0 0 0 James Allen Director 0.30 X 0 0 0 Melanie Gygli Director 0.30 X 0 0 0 James Brennan Director (Until 02/2020) 0.30 X 0 0 0 Mike Morrison Director 0.30 X 0 0 0 Lisa Stoddard Director (Joined 06/2019) 0.30 X 0 0 0 Sunny Shaw Director (Joined 06/2019) 0.30 X 0 0 0 Mike Sautebin Director (Joined 01/2020) 0.30 X 0 0 0 0 0 0 0 0 0 0 0 Loan Interest Income 522291 722311 722311 Loan & Servicing Fees 522291 82538 82538 Penalties and Late Fee 522291 19866 19866 824715 8856 8856 833571 824715 0 8856 11745 11745 2225 2225 691 691 1379 1379 693424 693424 4395 4395 Loan Servicing Costs 29727 29727 Loan Portfolio Monitor 24290 24290 Loan Origination Fee Se 6000 6000 773876 729151 44725 0 371337 448238 902718 910485 21205 0 14082468 12613874 71720 63089 15449448 14035686 2740 2470 14097058 12632222 72783 64432 14172581 12699124 X 1276867 1336562 1276867 1336562 15449448 14035686 59695 0 X 0 1 X 1 0 X 1376899 1171569 1094262 1031221 824715 5498666 1376899 1171569 1094262 1031221 824715 5498666 0 0 0 5498666 3107 3122 3724 5681 8856 24490 3107 3122 3724 5681 8856 24490 1380006 1174691 1097986 1036902 833571 5523156 0.99560 0.99710 0.00440 0.00290 X 0 Real Estate Loans Receivable 12604088 C Infrastructure Loans Receivable 9786 C 12613874 Servicing Fee Payable 2347 Interest Payable 62085 64432 X 833571 0 833571 0 833571 773876 0 773876 0 773876 Part X, Line 2: The Corporation is organized as an Idaho nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3), and qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(viii) and has been determined not to be private foundation under Sections 509(a)(2). ICRC is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Corporation is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. We have determined the Corporation is not subject to unrelated business income tax and have not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. Form 990, Part VI, Section A, line 1 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 and the Audit Chair. 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 11b The Audit 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 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 C, line 19 The Organization's Articles of Incorporation are filed with the Idaho Secretary of State. Other documents are available upon request. Form 990, Part VII, Section A, Line 1a: During the current year, the Executive Director position remained vacant. All administrative activities of the Organization were overseen by the Board of Directors. The Corporation is in the process of finalizing the contract for a new Executive Director for the 2020 tax year.