2020-06-05T07:01:06-05:00 2019-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2019-01-01 263703347 NATIONAL COMMUNITY STABILIZATION TRUST LLC NATI 2022233237 910 17TH STREET NW NO 500A WASHINGTON DC 20006 JULIA GORDON PRESIDENT 2022233237 2020-06-03 1 DAVID KELLEHER CPA P01059560 5083669100 2020-05-21 40.70.31.102 2020-06-03 10:24:50 ED P 2DDD31951ED2AB8CB25029F66ABAED5153B45454 1166F2FD08ABF73FAA4779C448B3D4829B6A5C9C 2019 2021-01-29 14:40:06Z JULIA GORDON 910 17TH STREET NW NO 500A WASHINGTON DC 20006 4682801 0 X STABILIZATIONTRUST.COM X LLC 2008 DC THE NATIONAL COMMUNITY STABILIZATION TRUST'S MISSION IS TO REMOVE THE BLIGHT OF VACANT, ABANDONED AND FORECLOSED RESIDENTIAL PROPERTIES TO THE STOCK OF RENTAL AND OWNERSHIP HOUSING AVAILABLE PRIMARILY TO LOW AND MODERATE INCOME FAMILIES BY FACILITATING THE TRANSFER OF FORECLOSED PROPERTY FROM FINANCIAL INSTITUTIONS TO LOCAL ORGANIZATIONS AND PROVIDING FINANCIAL ASSISTANCE TO SUPPORT STATE AND LOCAL STABILIZATION PROGRAMS. 6 5 21 5 0 0 617559 1734478 3579759 2864846 19256 46616 18202 36861 4234776 4682801 0 0 0 0 2514947 2485180 0 35000 148085 1909874 1208280 4424821 3728460 -190045 954341 11021651 3837847 8460111 321966 2561540 3515881 X THE NATIONAL COMMUNITY STABILIZATION TRUST'S MISSION IS TO REMOVE THE BLIGHT OF VACANT, ABANDONED AND FORECLOSED RESIDENTIAL PROPERTIES TO THE STOCK OF RENTAL AND OWNERSHIP HOUSING AVAILABLE PRIMARILY TO LOW AND MODERATE INCOME FAMILIES BY FACILITATING THE TRANSFER OF FORECLOSED PROPERTY FROM FINANCIAL INSTITUTIONS TO LOCAL ORGANIZATIONS AND PROVIDING FINANCIAL ASSISTANCE TO SUPPORT STATE AND LOCAL STABILIZATION PROGRAMS. 0 0 2869967 2901707 PROGRAM SERVICES INCLUDE THE TRANSFER OF FORECLOSED AND ABANDONED PROPERTIES FROM FINANCIAL INSTITUTIONS TO LOCAL HOUSING PROVIDERS AND ACCESS TO ACQUISITION AND REHABILITATION FINANCING TO SUPPORT STATE AND LOCAL COMMUNITY STABILIZATION EFFORTS. SINCE THE REO TRANSFER PROGRAM'S INCEPTION IN OCTOBER 2008, OVER 20,000 PROPERTIES HAVE BEEN TRANSFERRED TO APPROXIMATELY 976 LOCAL HOUSING PROVIDERS. THE STABILIZATION TRUST REO CAPITAL FUND WAS ESTABLISHED IN SEPTEMBER 2009 AND RECEIVED A $25 MILLION PROGRAM RELATED INVESTMENT FROM THE FORD FOUNDATION TO CAPITALIZE THE FUND AND PROVIDE CAPITAL FOR LENDING, $17.5 MILLION OF WHICH HAS BEEN RETURNED TO THE FORD FOUNDATION. TWENTY-FIVE LOANS TOTALING APPROXIMATELY $42.3 MILLION IN COMMITMENTS HAVE CLOSED. DURING 2011, THE TRUST ESTABLISHED A WHOLLY-OWNED SUBSIDIARY, NCST MORTGAGE RESOLUTIONS, LLC (NMR), A DELAWARE LIMITED LIABILITY COMPANY. NMR WILL PROVIDE SERVICES TO NCST AFFILIATES THAT ACQUIRE NON-PERFORMING MORTGAGE LOANS FROM FINANCIAL INSTITUTIONS WITH THE INTENT OF FOCUSING SERVICES AND RESOURCES TO REMEDIATE THE CURRENT BORROWER OR PROPERTIES IN A MANNER THAT EMPHASIZES OCCUPANCY AND NEIGHBORHOOD STABILITY. IN THE LAST THREE YEARS, NMR PROVIDED SERVICES TO THE MORTGAGE RESOLUTION FUND IN THE PURCHASE OF 1,071 NON-PERFORMING LOANS THROUGH 9 TRANSACTIONS WITH 6 DIFFERENT SELLERS. IN ADDITION, NMR PROVIDED SERVICES TO COMMUNITY RESTORATION CORPORATION IN THE ACQUISITION OF OVER 1200 DISTRESSED NOTES. 2869967 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 9 0 1 21 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA IL MN X JULIA GORDON 2027067500 910 17TH STREET NW SUITE 500-A WASHINGTON DC 20006 ANDREW JAKABOVICS MEMBER MANAGER 0.20 X 0 0 0 LOT DIAZ CHAIR OF THE BOARD 0.20 X X 0 0 0 ROBERT GROSSINGER PRESIDENT (THROUGH 6/30/19) 40.00 X X 213513 0 7552 JULIA GORDON PRES.(AS OF 7/1/19),EVP (THRU 6/30) 40.00 X X 261109 0 9576 PAUL SINGH MEMBER MANAGER 0.20 X 0 0 0 ERIC CHATMAN MEMBER MANAGER 0.20 X 0 0 0 MICHAEL LEVINE MEMBER MANAGER (THROUGH 3/2019) 0.20 X 0 0 0 BOB COONEY MEMBER MANAGER 0.20 X 0 0 0 CARLOS ALCAZAR COO (AS OF 7/1/19) 40.00 X 155856 0 23955 ERIN PERSONS VP OF PROGRAM OPERATIONS 40.00 X 166222 0 12491 RACQUEL REDDIE COMMUNITY DEV. MGR. 40.00 X 137900 0 26588 934600 0 80162 7 0 1 0 FORSYTH STREET ADVISORS LLC 588 BROADWAY SUITE 1208 NEW YORK NY 10012 FUND MANAGEMENT SERVICES 270000 MARCUM LLP 1899 L ST NW SUITE 850 WASHINGTON DC 20036 ACCOUNTING/HR SERVICES 146333 2 1734478 1734478 REAL ESTATE SERVICE FE 531390 2184800 2184800 LOAN ORIGINATION AND O 531390 310000 310000 MANAGEMENT FEES 531390 264550 264550 INTEREST INCOME ON LOA 522291 105496 105496 2864846 46616 46616 OTHER INCOME 900099 36861 36861 36861 4682801 2901707 0 46616 544718 200435 255117 89166 1580116 1392441 174543 13132 51723 48988 2735 165833 161013 1784 3036 142790 122942 17563 2285 20000 20000 20424 20424 169885 169885 35000 35000 43078 37984 1248 3846 21354 9569 11752 33 252217 250717 1319 181 137984 129981 7037 966 55169 52033 2758 378 42083 42083 43801 43801 BAD DEBT 264340 264340 INSPECTION FEES - SDP 118335 118335 INTEREST - AMORTIZATION 10891 10891 MISCELLANEOUS 8719 8215 442 62 3728460 2869967 710408 148085 3839428 3206848 2539 101 50000 479291 511800 55827 69098 4938244 1706322 0 11021651 3837847 387833 128748 270620 152238 2549 980 7489109 310000 40000 8460111 321966 X 2297044 3244736 264496 271145 2561540 3515881 11021651 3837847 954341 0 X X 0 1 X 1 0 X 867895 455000 721152 617559 1734478 4396084 3434710 3994183 3579276 3597961 2901707 17507837 4302605 4449183 4300428 4215520 4636185 21903921 250000 656200 471400 567558 1699478 3644636 1687173 1690869 2047001 2420799 2019644 9865486 1937173 2347069 2518401 2988357 3719122 13510122 8393799 30844 17553 14695 19256 46616 128964 30844 17553 14695 19256 46616 128964 365212 187500 552712 4698661 4654236 4315123 4234776 4682801 22585597 0.37160 0.41990 0.00570 0.00450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 2549 1569 980 1 X 0 NOTES PAYABLE TO MEMBERS 40000 40000 X PART IV, LINE 2B: FUNDS HELD FOR OTHERS REPRESENT FUNDS RECEIVED BY NCST FOR THE BENEFIT OF OTHER AGENCIES. VARIOUS FINANCIAL INSTITUTIONS COLLABORATE WITH THE NATIONAL EFFORTS OF NCST TO STABILIZE NEIGHBORHOODS ACROSS THE NATION THAT HAVE BEEN SIGNIFICANTLY AFFECTED BY THE FORECLOSURE CRISIS. THESE FINANCIAL INSTITUTIONS PROVIDE FUNDS TO THE BUYING ENTITIES THAT PURCHASE PROPERTIES THROUGH THE NCST'S FIRST LOOK PROGRAM. THE FUNDS ARE APPROVED BY THE FINANCIAL INSTITUTIONS, BASED ON THE MARKET VALUE OF THE PROPERTY PURCHASED BY NCST APPROVED BUYERS. NCST OPERATES AS THE FISCAL AGENT FACILITATING THE DISBURSEMENT OF THIS GRANT FUNDING. PART X, LINE 2: NCST 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 CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AS OF DECEMBER 31, 2019, NCST HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. NCST FILES INFORMATIONAL RETURNS IN THE UNITED STATES FEDERAL JURISDICTION, AND ILLINOIS AND CALIFORNIA STATE JURISDICTIONS. THE INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE UNITED STATES FEDERAL, AND ILLINOIS AND CALIFORNIA STATE JURISDICTIONS. X X X 1 KG CONSULTING 5009 BELT ROAD NW WASHINGTON DC 20016 FUNDRAISING CONSULTING 0 0 35000 -35000 35000 -35000 X X X 0 0 0 0 0 0 0 0 0 ROBERT GROSSINGER PRESIDENT (THROUGH 6/30/19) 206013 0 7500 0 0 0 7552 0 0 0 221065 0 0 0 JULIA GORDON PRES.(AS OF 7/1/19),EVP (THRU 6/30) 244109 0 17000 0 0 0 9576 0 0 0 270685 0 0 0 CARLOS ALCAZAR COO (AS OF 7/1/19) 148356 0 7500 0 0 0 0 0 23955 0 179811 0 0 0 ERIN PERSONS VP OF PROGRAM OPERATIONS 158722 0 7500 0 0 0 10580 0 1911 0 178713 0 0 0 RACQUEL REDDIE COMMUNITY DEV. MGR. 132900 0 5000 0 0 0 5703 0 20885 0 164488 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 NCST HAS MEMBERS AS DEFINED IN THE LLC AGREEMENT. FORM 990, PART VI, SECTION A, LINE 6 NCST WAS FORMED AS A LIMITED LIABILITY COMPANY WITH SIX MEMBERS. DURING 2018, ONE MEMBER RELINQUISED IT'S MEMBERSHIP RIGHTS IN NCST, AND THEREFORE THERE WERE 5 MEMBERS AS OF DECEMBER 31, 2019. FORM 990, PART VI, SECTION A, LINE 7A NCST IS AN LLC WITH FIVE MEMBERS, EACH MEMBER HAS REPRESENTATION ON THE BOARD OF MANAGERS. THERE ARE 6 TOTAL MEMBERS OF THE BOARD OF MANAGERS, EACH OF WHOM HAS VOTING RIGHTS TO ELECT OTHER MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B MANAGEMENT AND CONTROL OF THE BUSINESS OF NCST IS GENERALLY VESTED IN ITS GOVERNING BODY; CERTAIN DECISIONS ARE SUBJECT TO THE APPROVAL OF THE MEMBERS OF NCST. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT CONTRACTOR WITH ASSISTANCE FROM AND REVIEW BY NCST OFFICERS. PRIOR TO FILING, AAF PRESENTS THE DRAFT 990 TO THE NCST AUDIT/FINANCE COMMITTEE FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND BOARD MEMBERS ARE REQUIRED TO SIGN OFF ANNUALLY ON NCST'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT, COO AND COMPTROLLER ARE OFFICERS WHICH ARE COMPENSATED. THEIR SALARIES WERE DETERMINED THROUGH BOARD DISCUSSION AND APPROVAL. NCST CONDUCTED A COMPENSATION STUDY IN 2013 TO ENSURE THAT THE CEO SALARY WAS IN-LINE WITH OTHER NON PROFITS IN THE INDUSTRY. THE STUDY AT THE TIME INDICATED THAT THE CEO SALARY WAS IN-LINE. MOST RECENTLY, LEGAL COUNSEL CONDUCTED A QUICK COMPENSATION EXERCISE WITH SIMILAR NON PROFITS USING THE PUBLIC 990 TO INDICATE THAT THE CEO SALARY FOR NCST REMAINS IN-LINE WITH OTHER NON PROFITS. THE CEO USES MARKET RATE EXAMPLES FOR SIMILAR POSITIONS TO DETERMINE THE SALARY OF THE COO AND COMPTROLLER. FORM 990, PART VI, SECTION C, LINE 19 NCST MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS HAS CHARGED THE AUDIT COMMITTEE WITH RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION PROCESS. STABILIZATION TRUST REO CAPITAL FUND LLC 910 17TH STREET NW SUITE 500-A WASHINGTON DC 20006 270905665 FINANCING OF ACQUISITIONS OF FORECLOSED PROPERTIES DC 124589 617 NATIONAL COMMUNITY STABILIZATION TRUST LLC NCST MORTGAGE RESOLUTIONS LLC 910 17TH STREET NW SUITE 500-A WASHINGTON DC 20006 383859645 SERVICE NCST AFFILIATES THAT ACQUIRE NON-PERFORMING MORTGAGE LOANS DC 1789028 4930553 NATIONAL COMMUNITY STABILIZATION TRUST LLC