2020-11-09T13:35:05-06:00 2019-12-31 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2019-01-01 136532871 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC NATI 2126821106 ONE BATTERY PARK PLAZA NO 710 NEW YORK NY 10004 DANIEL MARSH III PRESIDENT AND CEO 2126821106 2020-11-09 1 LORI ROTHE YOKOBOSKY CPA P01273422 2122970400 2020-11-08 209.59.243.22 2020-11-09 09:45:33 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F9BA0E82A6D947CC92540FBC56E8B73643681DA5 2019 2021-01-29 14:40:06Z THE NATIONAL DEVELOPMENT COUNCIL DANIEL MARSH III ONE BATTERY PARK PLAZA NO 710 NEW YORK NY 10004 11217565 0 X WWW.NDCONLINE.ORG X 1972 NY THE MISSION OF THE NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT, INC. DBA (CONT. ON SCHEDULE O) THE NATIONAL DEVELOPMENT COUNCIL (NDC), IS TO CREATE ECONOMIC OPPORTUNITY, AFFORDABLE HOUSING AND TO STRENGTHEN COMMUNITIES IN UNDERSERVED AREAS ACROSS THE UNITED STATES. 9 9 89 9 0 0 4663809 5745990 5475241 5403773 39085 47252 0 20550 10178135 11217565 301006 557006 0 0 5078653 5241728 0 0 132620 4734547 4176907 10114206 9975641 63929 1241924 12741704 13795338 6818882 7961890 5922822 5833448 X THE THREE PRIMARY EXEMPT PURPOSES OF THE NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT DBA THE NATIONAL DEVELOPMENT COUNCIL ARE TO:- ENCOURAGE AND FOSTER BUSINESS OWNERSHIP BY MEMBERS OF DISADVANTAGED GROUPS. (CONT. ON SCHEDULE O)- CONDUCT PROGRAMS TO INFORM AND AID COMMUNITIES IN OBTAINING AND UTILIZING GOVERNMENTAL AND OTHER FUNDS FOR SUPPORT OF LOCAL ECONOMIC DEVELOPMENT.- PROVIDE QUALITY HOUSING FOR LOW INCOME PERSONS. 0 0 2340420 557006 1756240 ENCOURAGE AND FOSTER BUSINESS OWNERSHIP BY MEMBERS OF DISADVANTAGED GROUPS:THROUGH NDC'S SMALL BUSINESS LENDING UNIT, WE HAVE ASSISTED MORE THAN 610 SMALL BUSINESSES OWNED BY DISADVANTAGED INDIVIDUALS OR LOCATED IN LOW-INCOME CENSUS TRACTS ACROSS THE NATION BY PROVIDING LOAN CAPITAL AND BUSINESS COUNSELING. NDC HAS EXTENDED OVER $241 MILLION IN SMALL BUSINESS FINANCING AT BELOW MARKET INTEREST RATES AND WITH ATTRACTIVE TERMS. THE BUSINESS COUNSELING IS PROVIDED AT NO COST TO THE SMALL BUSINESSES. OVER THE LAST SEVERAL YEARS, OUR SMALL BUSINESS LOAN FUND HAS RECEIVED NATIONAL RECOGNITION FROM A VARIETY OF INSTITUTIONS:(CONT. ON SCHEDULE O) 2494321 1871726 INFORM AND AID COMMUNITIES IN OBTAINING AND UTILIZING GOVERNMENTAL FUNDS FOR SUPPORT OF LOCAL ECONOMIC DEVELOPMENT:NDC CONDUCTS TRAINING AND PROVIDES COUNSELING AND TECHNICAL ASSISTANCE TO DISADVANTAGED COMMUNITIES FOR SUPPORT OF LOCAL ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT.DURING THE YEAR, NDC WORKED WITH MORE THAN 100 COMMUNITIES PROVIDING TECHNICAL ASSISTANCE AND GUIDANCE IN CARRYING OUT ECONOMIC AND COMMUNITY DEVELOPMENT STRATEGIES, PROGRAMS AND PROJECTS AND IN DEVELOPING PUBLIC FACILITIES. (CONT. ON SCHEDULE O) 2175187 1796356 TO PROVIDE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES:NDC CONDUCTS TRAINING AND PROVIDES COUNSELING AND TECHNICAL ASSISTANCE TO DISADVANTAGED COMMUNITIES AND NONPROFIT ORGANIZATIONS IN SUPPORT OF PROVIDING HOUSING FOR LOW-INCOME PERSONS. DURING THE YEAR, NDC WORKED WITH MORE THAN 100 COMMUNITIES AND NONPROFIT ORGANIZATIONS AND PROVIDED TRAINING TO MORE THAN 2,800 PRACTITIONERS IN HOUSING DEVELOPMENT FOR LOW-INCOME PERSONS AND IN LOW-INCOME COMMUNITIES. (CONT. ON SCHEDULE O) 7009928 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 43 0 1 89 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X ADAM ENNIS 2126821106 ONE BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 GARY PERLOW BOARD MEMBER 2.15 0.55 X 0 0 0 JAMIE BLOSSER BOARD MEMBER 1.11 0.22 X 0 0 0 JOHN DOWNS BOARD MEMBER 2.15 0.55 X 0 0 0 MACKENSIE CANTER BOARD MEMBER 1.11 0.22 X 0 0 0 MARILYN STRICKLAND BOARD MEMBER 1.11 0.22 X 0 0 0 PATRICK DUGGAN BOARD MEMBER 1.11 0.22 X 0 0 0 SAUNDRA JOHNSON HUDSON CHAIRWOMAN 2.15 0.55 X X 0 0 0 SETH BONGARTZ SECRETARY 2.15 0.55 X X 0 0 0 TOMASITA DURAN BOARD MEMBER 2.15 0.55 X 0 0 0 DANIEL MARSH III PRESIDENT & CEO 44.00 11.00 X 304996 0 97682 GERTRUDE SCRIVEN TREASURER 47.50 2.50 X 180883 0 45436 ADAM ENNIS CFO 15.00 35.00 X 182060 0 59420 ANN VOGT PRODUCT MANAGER 7.15 47.85 X 302341 0 58952 ANGELA BUTLER PRODUCT MANAGER 38.00 12.00 X 177282 0 74015 CHARLEY DEPEW SENIOR DIRECTOR 47.00 3.00 X 185042 0 70013 JOHN PALYO PRODUCT MANAGER 5.00 47.00 X 215703 0 62837 KEVIN GREMSE REGIONAL MANAGER 47.00 3.00 X 188420 0 65590 STEPHANIE DUGAN PRODUCT MANAGER 45.00 5.00 X 189990 0 57444 1926717 0 591389 44 0 1 0 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 AUDITING AND TAX SERVICES 126265 1 4277257 1468733 5745990 TECHNICAL ASSISTANCE 541900 3204287 3204287 TRAINING REVENUE 541900 1968604 1968604 MANAGEMENT INCOME 541900 150500 150500 LOAN INTEREST 541900 80382 80382 5403773 47252 47252 MISC INCOME 900099 20550 20550 20550 11217565 5424323 0 47252 X 557006 557006 1115363 845862 264854 4647 2878097 2183969 682117 12011 285174 197444 86118 1612 709061 550215 156180 2666 254033 195232 57930 871 43733 43733 199425 199425 3900 3900 1154044 548393 503111 102540 224403 171173 52286 944 449560 342924 104746 1890 405819 309558 94555 1706 641594 515705 123498 2391 173245 173245 110646 84401 26245 139736 139736 TRAINING SITES 214891 214891 SUBS. AND MEMBERSHIPS 103062 78616 24013 433 EQUIPMENT LEASE AND MAI 88255 67321 20563 371 TEMPORARY EMPLOYEES 87473 66724 20381 368 137121 80494 56457 170 9975641 7009928 2833093 132620 386297 345102 643504 1539122 2385355 2481443 8038043 8038043 52700 305836 1348579 1130686 328539 217893 728630 839085 149822 28814 28814 12741704 13795338 601946 978674 164655 249806 6052281 6733410 6818882 7961890 X 5261380 4897678 661442 935770 5922822 5833448 12741704 13795338 X 1241924 67294 -1398592 X X 0 1 X 1 0 X 4089562 4616744 4375706 4663809 5745990 23491811 5525288 5481765 5318990 5475241 5403773 27205057 9614850 10098509 9694696 10139050 11149763 50696868 3409562 4297869 3834170 3450702 4277257 19269560 0 3409562 4297869 3834170 3450702 4277257 19269560 31427308 215571 124010 13754 39085 47252 439672 215571 124010 13754 39085 47252 439672 33112 1626 20550 55288 9830421 10255631 9710076 10178135 11217565 51191828 0.61390 0.65330 0.00860 0.01330 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DISTRIBUTION FROM PARTNERSHIP - 2016 AMOUNT: $ 33,112. MISCELLANEOUS - 2017 AMOUNT: $ 1,626. 2019 AMOUNT: $ 20,550. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125000 125000 9849641 9974641 648732 162183 0 0 694669 676216 655710 648732 2675327 4012991 104305 140437 129993 125000 499735 173667 169054 163928 162183 668832 1003248 202452 92996 109456 1146127 1037690 108437 217893 ACCRUED NON-QUALIFIED PENSION LIABILITY 927487 ACCRUED DEFINED BENEFIT PLAN PENSION LIABILITY 5326425 DEFERRED RENT 472023 DUE TO AFFILIATES 7475 6733410 X 11280959 67294 67294 11213665 3900 3900 11217565 9971741 0 9971741 3900 3900 9975641 PART X, LINE 2: THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ORGANIZATION, AMONG OTHERS. THERE ARE NO UNCERTAIN TAX POSITIONS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018. THE ORGANIZATION FILES FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WITH THE INTERNAL REVENUE SERVICE ANNUALLY. AT DECEMBER 31, 2019, THE ORGANIZATION'S FORM 990 FOR THE YEARS ENDED 2016 THROUGH 2019 REMAIN ELIGIBLE FOR EXAMINATION BY THE IRS. 1 HORSES HEALING HEARTS 2300 HIGH RIDGE ROAD SUITE 365 BOYNTON BEACH FL 33426 271386140 501(C)(3) 25000 OPERATING SUPPORT GREATER SALT LAKE DEVELOPMENT CORP 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 463784495 501(C)(3) 104000 OPERATING SUPPORT NDC COMMUNITY IMPACT LOAN FUND 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 133678913 501(C)(3) 340000 OPERATING SUPPORT NDC SUPPORT I INC 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 134156877 501(C)(3) 51756 OPERATING SUPPORT CITY GARDEN MONTESSORI 1618 TOWER GROVE AVENUE ST LOUIS MO 63110 850292161 501(C)(3) 25000 OPERATING SUPPORT LA CASA INC 800 S WALNUT STREET LAS CRUCES NM 88001 431671014 501(C)(3) 10000 OPERATING SUPPORT 6 0 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS BY REQUIRING THE GRANTEE TO PROVIDE PERIODIC REPORTS THAT DESCRIBE THE USE OF THE GRANT FUNDS. THE ORGANIZATION ALSO SHARES BOARD MEMBERS WHO CAN MONITOR THE USE OF FUNDS. X X X X X 0 1 0 0 0 0 0 0 0 DANIEL MARSH III PRESIDENT & CEO 298900 0 0 0 6096 0 62297 0 35385 0 402678 0 0 0 GERTRUDE SCRIVEN TREASURER 178596 0 0 0 2287 0 25651 0 19785 0 226319 0 0 0 ADAM ENNIS CFO 181817 0 0 0 243 0 14549 0 44871 0 241480 0 0 0 ANN VOGT PRODUCT MANAGER 298777 0 0 0 3564 0 36971 0 21981 0 361293 0 0 0 ANGELA BUTLER PRODUCT MANAGER 176592 0 0 0 690 0 21923 0 52092 0 251297 0 0 0 CHARLEY DEPEW SENIOR DIRECTOR 182983 0 0 0 2059 0 22569 0 47444 0 255055 0 0 0 JOHN PALYO PRODUCT MANAGER 214682 0 0 0 1021 0 23004 0 39833 0 278540 0 0 0 KEVIN GREMSE REGIONAL MANAGER 187592 0 0 0 828 0 19256 0 46334 0 254010 0 0 0 STEPHANIE DUGAN PRODUCT MANAGER 187852 0 0 0 2138 0 24348 0 33096 0 247434 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, NO CONTRIBUTIONS WERE MADE DURING THE YEAR. - DANIEL MARSH III - GERTRUDE SCRIVEN FORM 990, PART III, LINE 4A CONTINUATION: - NDC'S TWO CDFI'S THE GROW AMERICA FUND AND NDC COMMUNITY IMPACT LOAN FUND OPERATE IN FIVE OF THE TEN MOST DISTRESSED CITIES IN AMERICA. CLEVELAND, BUFFALO, NEWARK, CINCINNATI, AND SAN BERNARDINO HAVE DISTRESS RATINGS FROM 93.6 TO 99.9 OUT OF 100 ACCORDING TO THE ECONOMIC INNOVATION GROUP DISTRESSED COMMUNITY INDEX. BUSINESSES FINANCED BY NDC HAVE CREATED OVER 16,400 JOBS AND APPROXIMATELY 11,700 OF THOSE JOBS ARE CONSIDERED FILLED BY LOW AND MODERATE-INCOME PERSONS. - THE US SMALL BUSINESS ADMINISTRATION HAS ACKNOWLEDGED GAF AS A MISSION-BASED LENDER CARRYING OUT OUR MISSION TO MAKE CREDIT AVAILABLE TO DISADVANTAGED BUSINESSES AND HELPING THOSE BUSINESSES TO SUCCEED THROUGH OUR TECHNICAL ASSISTANCE. GAF IS ALSO AN SBA PREFERRED LENDER. - IN FURTHERANCE OF NDC'S AND GAF'S MISSION, JPMORGAN CHASE AWARDED NDC'S SMALL BUSINESS LENDING UNIT TWO GRANTS TOTALING $8.3 MILLION TO MAKE SMALL BUSINESS LOANS IN DISTRESSED AND UNDERSERVED COMMUNITIES ACROSS THE COUNTRY. WORKING WITH LOCAL CDFIS, CDE'S AND CDCS, NDC PROVIDES TECHNICAL ASSISTANCE AND FINANCE TRAINING AND USES NDC'S GROW AMERICA FUND TO MAKE LOANS TO SMALL BUSINESSES WHO INVEST IN THEIR COMMUNITIES AND CREATE JOBS. THE $33 MILLION IN FINANCING EXTENDED THROUGH THE CHASE PROGRAM HAS PROVIDED APPROPRIATELY PRICED CAPITAL TO OVER 41 SMALL BUSINESSES WHO HAVE CREATED OR RETAINED OVER 1,500 JOBS. IN ADDITION TO THE CHASE FUNDING, NDC HAS RECEIVED GRANTS AND PRIS FROM MORGAN STANLEY, DISCOVER BANK, THE FORD FOUNDATION, THE CLEVELAND COMMUNITY FOUNDATION, THE BURTON D. MORGAN FOUNDATION, THE LONGWOOD FOUNDATION, TACOMA COMMUNITY FOUNDATION, THE SEATTLE FOUNDATION AND THE CDFI FUND TO SUPPORT SMALL BUSINESS LENDING IN DISTRESSED COMMUNITIES. - GAF HAS RECEIVED OVER $8 MILLION IN GRANTS FROM THE CDFI FUND IN RECOGNITION OF CARRYING OUT ITS MISSION. IN 2018 WE RECEIVED A $600 THOUSAND GRANT FROM THE CDFI FA PROGRAM. - IN 2015, AND 2017 THE UNITED STATES DEPARTMENT OF COMMERCE, ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) MADE TWO CREDIT FACILITIES TOTALING $1.6 MILLION AVAILABLE AT A 0% RATE OF INTEREST TO MAKE LOANS TO DISADVANTAGED BUSINESSES IN DISTRESSED COMMUNITIES IN WASHINGTON STATE. IN 2016, NDC MADE ITS FIRST LOAN IN THE PROGRAM AND IS CONTINUING TO LEND UNDER THAT PROGRAM. IN 2019 NDC EXPANDED ITS LENDING UNDER THE PROGRAM AND IS LOOKING TO EXPAND EDA LENDING IN 2020. NDC IS CURRENTLY NEGOTIATING WITH EDA TO ACQUIRE FUNDS TO EXPAND THE LENDING FOOTPRINT FROM WASHINGTON TO NORTHER CALIFORNIA. - NDC THROUGH ITS CDFI, NDC COMMUNITY IMPACT LOAN FUND HAS COMPLETED ITS LENDING PARTNERSHIP WITH THE NATIONAL URBAN LEAGUE, THE URBAN EMPOWERMENT FUND AND LOCAL URBAN LEAGUE CHAPTERS WHICH MADE LOANS AVAILABLE TO AFRICAN-AMERICAN BORROWERS IN SELECTED URBAN MARKETS ACROSS THE UNITED STATES. IN 2019, THE GREATER CLEVELAND CAPITAL ACCESS FUND EXPENDED ALL ITS CAPITAL AND IS NOW RECYCLING THE REPAID PRINCIPAL TO MAKE LOANS UNDER SIMILAR TERMS TO OTHER QUALIFIED BUSINESSES IN THE GREATER CLEVELAND MARKET. NDC CILF IS UNDERTAKING THIS LENDING INITIATIVE WITHOUT DIRECT SUPPORT OF THE URBAN LEAGUE BUT WITH RECYCLED FUNDS AND ADMINISTRATIVE FUNDING FROM THE KELLOGG FOUNDATION. IN BROWARD COUNTY FLORIDA, NDC CILF HAS MET ITS LENDING GOALS AND HAS ACQUIRED $500,000 IN REVOLVING LOAN CAPITAL THROUGH A GRANT FROM BROWARD COUNTY WHICH IT WILL LEND TO QUALIFIED MINORITY BUSINESSES LOCATED IN THE COUNTY. EXAMPLES OF THE LOANS MADE INCLUDE: - TAYLOR TOTS, A DAY CARE PROVIDER IN BROWARD COUNTY, FLORIDA - MOBITES, A GOURMET MOBILE FOOD TRUCK IN CLEVELAND, OHIO - SOUTHERN CUSTOM IRON ART, A METAL FABRICATOR IN BROWARD COUNTY, FLORIDA IN 2019, GAF MADE 28 LOANS TOTALING $11,737,200. THE FOLLOWING ARE 2019 EXAMPLES OF BUSINESSES NDC'S SBA 7A SMALL BUSINESS LOAN PROGRAM HAS ASSISTED: MIDDLE BAR: MIDDLE BAR IS A BOUTIQUE BEVERAGE COMPANY WITH A LINE OF CRAFT COCKTAIL MIXERS AND ACCOUTREMENTS FOR THE HOME AND PROFESSIONAL MIXOLOGIST'S. THE COMPANY IS IN ENGLEWOOD, CALIFORNIA. GAF PROVIDED A $150,000 LOAN WHICH THE COMPANY WILL USE FOR PERMANENT WORKING CAPITAL. COUNTERMEASURES: AN AFRICAN AMERICAN OWNED SECURITY COMPANY LOCATED IN NEW CASTLE, DELAWARE. THE BUSINESS HAS BEEN OPERATING SINCE 2014 BUT HAS NEVER BEEN ABLE TO SECURE THE RIGHT CAPITAL WHICH WOULD ALLOW THEM TO GROW. GAF PROVIDED A $300,000 LOAN TO REFINANCE HIGH COST DEBT SAVING THE COMPANY MORE THAN $36,000 IN DEBT SERVICE PER YEAR. CUSTOM PC COMPUTERS: A COMPANY STARTED IN 2002 TO PROVIDE COMPUTER REPAIRS AND NETWORK SERVICES IN THE CITY OF CINCINNATI. THE COMPANY HAS EXPANDED TO PROVIDE SURVEILLANCE CAMERAS AND SYSTEMS IN ADDITION TO THEIR REPAIR BUSINESS. GAF PROVIDED A $105,000 LOAN TO REFINANCE HIGH COST FINTECH DEBT THEREBY SAVING THE COMPANY OVER $6,000 A YEAR IN DEBT SERVICE THAT THE COMPANY COULD THEN USE TO EXPAND THEIR GROWING BUSINESS. RJ'S DEMOLITION AND DISPOSAL (RJ'S) WAS STARTED IN 1999 AS A LICENSED DEMOLITION CONTRACTOR. SOLEMATE: IS A RETAIL BUSINESS THAT FOCUSES ON THE SALE OF SPECIALTY JEANS AND HIGH- END SNEAKERS. THE BUSINESS IS IN BROOKLYN, NY AND AT THE TIME OF THE LOAN HAD BEEN IN BUSINESS FOR THREE YEARS. THE OWNER HAD BEEN UNABLE TO FIND SUITABLY PRICED LOAN CAPITAL AND CAME TO GAF IN A FINAL EFFORT TO FUND HIS EXPANDING COMPANY. PORTABLE CHEF: IS A MEAL PREPARATION AND DELIVERY SERVICE LOCATED IN NEW YORK CITY. THE COMPANY HAS BEEN IN OPERATION FOR OVER FIVE YEARS AND PROVIDES HIGHLY NUTRITIOUS, CUSTOM PREPARED MEALS TAILORED TO A CLIENT'S SPECIFICATIONS. THIS IS AN ESPECIALLY USEFUL SERVICE FOR CLIENTS ON A DIET OR THOSE WITH SPECIFIC DIETARY RESTRICTIONS. THE COMPANY PREPARES MEALS AND MAKES DELIVERIES THROUGHOUT NEW YORK CITY'S FIVE BOROUGHS. WIREBIRDS: FORMED IN 2011, WIREBIRDS LLC IS AN ONLINE AUCTION PLATFORM FOR COMMERCIAL PRINTERS, BOOKBINDERS AND OTHER RELATED TRADES WHO WISH TO DISPOSE OF OR ACQUIRE EQUIPMENT FOR THEIR OPERATIONS. GAF PROVIDED A LOAN OF $610,000 TO PURCHASE A BUILDING TO HOUSE ITS BUSINESS. VIRTAIR: ESTABLISHED IN 2014 AND PROVIDES HOSPITALS AND OTHER MEDICAL CLINICS WITH THE TIMELY DELIVERY OF OXYGEN, OXYGEN TANKS AND SUPPLY TO NEW YORK CITY METROPOLITAN HOSPITALS. CLINICS AND NURSING HOMES. FORM 990, PART III, LINE 4B CONTINUATION: THROUGH THESE SERVICES, NDC ACHIEVED FINANCING FOR PROJECTS AND PROGRAMS, WITH GOVERNMENT AND PRIVATE SECTOR FUNDS, MORE THAN $2 BILLION. IN 2019, NDC ADDED THE FOLLOWING NEW TECHNICAL ASSISTANCE CLIENTS: - ANNA JULIO EPISCOPAL SCHOOL, RICHMOND, VA - BUILD FUND LCC, INDIANAPOLIS, IN - CITY OF HARTFORD, CT - ISLIP IDA, ISLIP, NY - LEXINGTON MARKET, BALTIMORE, MD - MONTEFIORE HOSPITAL, NYACK, NY - VILLAGE OF MOUNT KISKO, NY - TOWN OF MONROE, NY - UNIVERSITY FOR THE VIRGIN ISLANDS, RESEARCH AND DEVELOPMENT, USVI - WILMINGTON ALLIANCE, WILMINGTON, DE NDC SOCIAL INFRASTRUCTURE: STATE OF WASHINGTON DATA PROCESSING CENTER (FYI)- OLYMPIA, WA IN 2008, HEDC THROUGH A SPECIAL PURPOSE ENTITY FINANCED AND BUILT A FACILITY FOR THE STATE OF WASHINGTON THAT HOUSES ADMINISTRATIVE OFFICES AND THE STATES DATA PROCESSING CENTER. THE PROJECT CONSISTED OF TWO BUILDINGS THAT ARE OCCUPIED BY STATE AGENCIES. BUILDING ONE IS A FIVE-STORY 202,000 SQUARE FOOT OFFICE BUILDING THAT HOUSES VARIOUS STATE OFFICES AND THE BUILDING TWO IS A TWO STORY 167,000 SQUARE FOOT FACILITY THAT HOUSES THE STATE'S DEPARTMENT OF INFORMATION SERVICES. THE TOTAL COST OF THE PROJECT WAS $376,000,000 AND WAS FINANCED WITH 82-26 TAX EXEMPT BONDS. IN 2019, HEDC REFUNDED THE BONDS TO LOWER THE INTEREST RATE AND THEREBY SIGNIFICANTLY REDUCED THE RENT PAID TO FYI BY THE STATE OF WASHINGTON. COMMUNITY DEVELOPMENT PROPERTIES SCRANTON- SCRANTON, PA IN 2016 HEDC WORKING WITH THE CITY OF SCRANTON SUCCESSFULLY NEGOTIATED A LONG-TERM CONCESSION/LEASE FOR THE CITY OF SCRANTON PARKING SYSTEM, WHICH INCLUDED: 1) FIVE PARKING GARAGES CONTAINING 2,659 SPACES AND APPROXIMATELY 36,000 SF OF RETAIL; 2) 1,479 METERED PARKING SPACES; AND 3) 550 PUBLICLY-LEASED PARKING SPACES. HEDC ASSUMED RESPONSIBILITY FOR THE LEASE, OPERATION, MAINTENANCE AND CAPITAL REPAIR OF THE ENTIRETY OF THE PUBLIC PARKING SYSTEM FOR FORTY YEARS THROUGH ONE OF ITS' SUBSIDIARY CORPORATIONS CDP SCRANTON (CDPS). THE CONSIDERATION AMOUNT GENERATED BY A CONCESSIONAIRE/LEASE AGREEMENT WAS USED BY THE CITY, IN COMBINATION WITH PROCEEDS FROM A GENERAL OBLIGATION ISSUANCE, REDEEM ALL OUTSTANDING DEBT ASSOCIATED WITH THE PARKING AUTHORITY. THIS ALLOWED THE CITY TO BE FREE OF THE ON-GOING LIABILITY AND HAS FREED UP MUNICIPAL REVENUES FOR OTHER CRITICAL NEEDS AND OBLIGATIONS. IN 2017 CDPS CONTINUED ITS WORK WITH THE CITY TO UPGRADE THE GARAGES WITH ENHANCED LIGHTING AND TO IDENTIFY A NEW ON STREET PARKING SYSTEM. IN 2018, CDPS STABILIZED THE FORMERLY BANKRUPT PARKING SYSTEM WHICH IS NOW OPERATING AT A 1.4:1 DEBT COVERAGE RATIO. ADDITIONALLY, CDPS CONTRACTED WITH A FIRM TO DESIGN A NEW AUTOMATED ON-STREET REVENUE COLLECTION SYSTEM THAT WHEN INSTALLED, WILL IMPROVE REVENUE COLLECTION, OPERATING EFFICIENCY, AND THE OVERALL CUSTOMER PARKING EXPERIENCE. THE NEW ON-STREET REVENUE CONTROL SYSTEM WAS INSTALLED IN 2019. IN ADDITION, THE CONTRACTS FOR GARAGE RECONSTRUCTION WERE LET AND WORK COMMENCED ON THE DEMOLITION AND IMPROVEMENT OF SELECTED GARAGES. THESE EFFORTS WILL PROVE TO FURTHER THE CITY'S PLAN TO CONTINUE THE REVITALIZATION OF DOWNTOWN SCRANTON. NDC SMALL BUSINESS LENDING: NDC COMMUNITY IMPACT LOAN FUND (MCI) CLEVELAND, OH AND BROWARD COUNTY, FL THE CAPITAL ACCESS FUND (CAF), RENAMED NDC MULTI-CULTURAL INVESTMENT, IS AN OUTGROWTH OF A FORMER STRATEGIC ALLIANCE BETWEEN NDC CILF, THE NATIONAL URBAN LEAGUE, LOCAL URBAN LEAGUE CHAPTERS AND MORGAN STANLEY TO CREATE ACCESS TO CAPITAL FOR MINORITY COMMUNITIES WHO FACE BARRIERS TO ECONOMIC OPPORTUNITY AND PARTICIPATION IN THE AMERICAN ECONOMY. BUILT UPON A BASE OF FLEXIBLE PATIENT CAPITAL WITH AFFORDABLE INTEREST RATES AND SOUND TECHNICAL ASSISTANCE AND BUSINESS SUPPORT SERVICES, MCI NURTURES MINORITY BUSINESSES INTO SUCCESSFUL BUSINESSES. MANY STUDIES HAVE DOCUMENTED THAT MINORITY OWNED SMALL BUSINESSES EXPERIENCE HIGHER LOAN DENIAL RATES AND PAY HIGHER INTEREST RATES THAN WHITE-OWNED BUSINESSES EVEN AFTER CONTROLLING FOR DIFFERENCES IN CREDITWORTHINESS. BECAUSE OF THESE DENIAL RATES, MINORITY OWNED BUSINESS MUST RELY MORE UPON OWNER'S EQUITY AND LESS ON BANK DEBT. YET, THESE MINORITY BUSINESSES HAVE LESS EQUITY BECAUSE THEIR WEALTH BASE IS SMALLER. AS A RESULT, MINORITY SMALL BUSINESSES LAUNCH WITH LESS TOTAL CAPITALIZATION THAN CONVENTIONAL BUSINESSES. WITH INADEQUATE CAPITALIZATION, THESE BUSINESSES SUFFER A HIGHER FAILURE RATE THAN WHITE-OWNED BUSINESSES. CILF, HEDC'S CERTIFIED NATIONAL CDFI HAS PROVIDED OVER 30 LOANS TOTALING MORE THAN $3,200,000 TO MINORITY SMALL BUSINESS ENTREPRENEURS AS PART OF THE FORMER CAPITAL ACCESS FUND OF GREATER CLEVELAND (CAFGC) AND CAPITAL ACCESS FUND OF FLORIDA (CAFFL). IN 2019, NDCCILF INCORPORATED THE MISSION OF PROVIDING ACCESS TO CAPITAL TO MINORITY AND WOMEN ENTREPRENEURS INTO ITS COMPLETE SUITE OF PROGRAMS. CILF IS CURRENTLY RAISING CAPITAL FOR MINORITY LENDING WHICH IT ANTICIPATES DEPLOYING IN 2020. IN 2019, CILF RECEIVED A $3 MILLION EQ2 INVESTMENT FROM DISCOVER BANK THAT IT IN TURN LOANED TO THE DELAWARE INNOVATION SPACE, A SCIENCE AND TECHNOLOGY INCUBATOR DEVELOPED IN PARTNERSHIP WITH DUPONT AND THE UNIVERSITY OF DELAWARE. THE BUILDING WAS DONATED TO THE DE NOVO NONPROFIT FOR THIS VENTURE BY DUPONT AND IS LOCATED ON THE GROUNDS OF THEIR EXPERIMENTAL STATION IN WILMINGTON, DELAWARE. THE LOAN PROVIDED BY CILF WILL BE USED TO PROVIDE LOW-COST, PATIENT FUNDING TO EARLY STAGE COMPANIES LOOKING TO UTILIZE STATE OF THE ART LAB FACILITIES TO INCUBATE THEIR PRODUCT OR PROCESS. REPAID PRINCIPAL WILL BE DEPLOYED TO FUND ADDITIONAL SMALL BUSINESS AND NONPROFIT BORROWERS THAT MEET DISCOVERS CRA NEEDS IN THE STATE OF DELAWARE. ALSO, IN 2019, CILF CAPITALIZED AN AFFORDABLE HOUSING PREDEVELOPMENT LOAN FUND THAT IT LENDS TO QUALIFIED LIHTC DEVELOPERS TO WHO NEED FUNDS TO PAY FOR SOFT COST ASSOCIATED WITH ASSEMBLING A LIHTC APPLICATION TO OBTAIN CREDITS. THE CAPITAL ACCESS FUND (CAF), RENAMED NDC MULTI-CULTURAL LENDING, IS A STRATEGIC ALLIANCE OF NDC CILF, THE NATIONAL URBAN LEAGUE AND LOCAL URBAN LEAGUE CHAPTERS TO CREATE ACCESS TO CAPITAL FOR MINORITY COMMUNITIES WHO FACE BARRIERS TO ECONOMIC OPPORTUNITY AND PARTICIPATION IN THE AMERICAN ECONOMY. BUILT UPON A BASE OF FLEXIBLE PATIENT CAPITAL WITH AFFORDABLE INTEREST RATES AND SOUND TECHNICAL ASSISTANCE AND BUSINESS SUPPORT SERVICES, MCL NURTURES MINORITY BUSINESSES INTO SUCCESSFUL BUSINESSES. MANY STUDIES HAVE DOCUMENTED THAT MINORITY OWNED SMALL BUSINESSES EXPERIENCE HIGHER LOAN DENIAL RATES AND PAY HIGHER INTEREST RATES THAN WHITE-OWNED BUSINESSES EVEN AFTER CONTROLLING FOR DIFFERENCES IN CREDITWORTHINESS. BECAUSE OF THESE DENIAL RATES, MINORITY OWNED BUSINESS MUST RELY MORE UPON OWNER'S EQUITY AND LESS ON BANK DEBT. YET, THESE MINORITY BUSINESSES HAVE LESS EQUITY BECAUSE THEIR WEALTH BASE IS SMALLER. AS A RESULT, MINORITY SMALL BUSINESSES LAUNCH WITH LESS TOTAL CAPITALIZATION THAN CONVENTIONAL BUSINESSES. WITH INADEQUATE CAPITALIZATION, THESE BUSINESSES SUFFER A HIGHER FAILURE RATE THAN WHITE-OWNED BUSINESSES. NDC IS CONTINUING ITS WORK WITH SALT LAKE, SALT LAKE COUNTY AND WITH A DIVERSE GROUP OF STAKEHOLDERS IN SALT LAKE'S LOW INCOME COMMUNITIES, ZION AND SYNCHRONY BANKS AND FOUNDATIONS INCLUDING AMERICAN EXPRESS, THE UTAH FOUNDATION, NEIGHBORWORKS, AND MORGAN STANLEY TO CREATE A LOCALLY FOCUSED COMMUNITY DEVELOPMENT CORPORATION WHOSE MISSION IS TO CREATE ECONOMIC OPPORTUNITY FOR LOW INCOME RESIDENTS BY STIMULATING INVESTMENT AND CREATING JOBS FOR THE UNEMPLOYED. NDC HAS BEEN PROVIDING TECHNICAL ASSISTANCE, TRAINING AND CAPACITY BUILDING SERVICES, MAKING SMALL BUSINESS LOANS THROUGH OUR GROW AMERICA FUND AND GREATER SALT LAKE DEVELOPMENT CORPORATION STRUCTURING AFFORDABLE HOUSING PROJECTS, AND OFFERING DEVELOPMENT SERVICES. THROUGH A CONTINUING PARTNERSHIP WITH NATIONAL COALITIONS LIKE THE NEW MARKETS TAX CREDIT COALITION, OFN, THE CDFI COALITION, THE NATIONAL RURAL HOUSING COALITION, NACEDA AND OTHERS, NDC CAN IDENTIFY AND PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO LOW-INCOME COMMUNITIES ENGAGED IN THE CREATION OF JOBS, AFFORDABLE HOUSING AND PUBLIC INFRASTRUCTURE. HEDC WORKS WITH NONPROFIT ORGANIZATIONS AND SERVICE PROVIDERS AND UNITS OF LOCAL GOVERNMENT TO STIMULATE ECONOMIC DEVELOPMENT IN THE ECONOMICALLY DEPRESSED NEIGHBORHOODS ACROSS THE NATION. WORKING THROUGH THE NEW MARKETS TAX CREDIT PROGRAM AND WITH OTHER FINANCING, HEDC CREATES EMPLOYMENT AND ENTREPRENEURIAL OPPORTUNITIES FOR DISADVANTAGED GROUPS AND INDIVIDUALS, COMBATS COMMUNITY DETERIORATION, AND ELIMINATES SLUM AND BLIGHT THROUGH NEW INVESTMENT IN LOW INCOME COMMUNITIES TO REHABILITATE AND REVITALIZE NEIGHBORHOODS. UNDER THE NEW MARKETS TAX CREDIT (NMTC) PROGRAM, HEDC HAS SPONSORED 94 PROJECTS TOTALING OVER $1.7 BILLION OF NEW INVESTMENT, CREATED OVER 9,000 PERMANENT JOBS FOR DISADVANTAGED INDIVIDUALS, AND BROUGHT BADLY NEEDED GOODS AND SERVICES TO LOW INCOME COMMUNITIES ACROSS AMERICA. FORM 990, PART III, LINE 4B CONTINUATION: IN 2018, HEDC RECEIVED A $50 MILLION ALLOCATION OF NEW MARKETS TAX CREDITS AND AIDED THE FOLLOWING PROJECTS IN 2019: PM FOUNDATION DBA URBAN COMMUNITY SCHOOL CLEVELAND, OH IN 2019, HEDC INVESTED $5 MILLION IN NEW MARKET TAX CREDIT QEI ALONG WITH $9 MILLION FROM PARTICIPATING CDE'S TO PARTIALLY FUND THE ADDITION TO THE URBAN COMMUNITY SCHOOL, A PRIVATE K THROUGH 8 SCHOOL LOCATED IN A LOW-INCOME NEIGHBORHOOD IN CLEVELAND'S NEAR WEST SIDE. THE SCHOOL SERVES 580 STUDENTS, 75% OF WHICH COME FROM FAMILIES WHOSE INCOMES ARE BELOW THE FEDERAL POVERTY LINE. THE ADDITION CONTAINS 35,535 SQUARE FEET FOR CLASSROOMS, OFFICES AND A MEDICAL CLINIC OPERATED BY METRO HEALTH AND EXPERIENCES 84,000 PATIENT VISITS A YEAR. ADDITIONALLY, THE CLEVELAND FOOD BANK WILL OCCUPY 115 SQUARE FEET FOR A FOOD ANNEX AND RECREATION AND STUDENT MENTORING WILL BE ADDED IN 10,000 SQUARE FEET THROUGH A PARTNERSHIP WITH URBAN SQUASH. THE TOTAL PROJECT COST WAS $17,139,949. ROCKY BOY HEALTH CENTER BOX ELDER, MT THE CHIPPEWA CREE TRIBE'S SOVEREIGN LAND IN BOX ELDER, SITUATED IN A REMOTE AREA OF THE STATE OF MONTANA. THE TRIBE'S NEED FOR MEDICAL SERVICES HAS GROW OVER THE YEARS AND THEIR CAPACITY TO PROVIDE QUALITY MEDICAL SERVICES TO ITS MEMBERS WAS HAMPERED BY THE LIMITATIONS EXTANT IN THEIR 43,000 SQUARE FOOT OUTDATED AND CLINICALLY SUBSTANDARD FACILITY. WITH THE HELP OF THE FEDERAL GOVERNMENT AND INDIAN HEALTH SERVICES, THEY DEVELOPED A PLAN TO BUILD, EQUIP AND STAFF A NEW 93,000 SQUARE FOOT STATE OF THE ART MEDICAL FACILITY THAT WILL PROVIDE SERVICES CURRENTLY ONLY AVAILABLE BY A FOUR- HOUR CAR RIDE. THE NEW FACILITY WILL SERVE OVER 1,200 MEMBERS OF THE TRIBE AND THE INFRASTRUCTURE FINANCED THROUGH THIS PROJECT WILL PROVIDE POTABLE WATER TO 300 LOW-INCOME HOMES LOCATED WITHIN THE MIDDLE DRY FORK DEVELOPMENT ZONE. HEDC PROVIDED $7.9 MILLION IN NMTC QEI FOR THIS $44.7 MILLION PROJECT. EDUCATION IN SUPPORT OF COMMUNITY REVITALIZATION, NDC CLASSROOM TRAINING: - IN 2019, NDC TRAINING DELIVERED A TOTAL OF 344 DAYS OF TRAINING TO OVER 2,900 STUDENTS DRAWN FROM NONPROFIT COMMUNITY DEVELOPMENT CORPORATIONS, COMMUNITY DEVELOPMENT FINANCE INSTITUTIONS, FEDERAL, STATE AND LOCAL GOVERNMENT, COMMUNITY FOUNDATIONS AND OTHER ORGANIZATIONS WORKING IN ECONOMIC, HOUSING AND COMMUNITY DEVELOPMENT. IN ADDITION TO NDC'S NATIONALLY RECOGNIZED CERTIFICATION TRAINING FOR HOUSING AND ECONOMIC DEVELOPMENT FINANCE PROFESSIONALS, NEW COURSES WERE DEVELOPED ON BEHALF OF THE USDA TO ENHANCE STAFF UNDERWRITING SKILLS FOR CRITICAL RURAL SMALL BUSINESS LENDING, COMMUNITY FACILITIES, INCLUDING HOSPITALS AND PUBLIC SAFETY BUILDINGS. IN ADDITION, NDC DEVELOPED A TRAINING PROGRAM FOR USDA TO TEACH UNDERWRITING AND PROJECT STRUCTURING SKILLS NECESSARY WHEN COMBINING A B&I LOAN GUARANTEE WITH NEW MARKETS TAX CREDITS. THIS COURSE WAS TAUGHT IN BOTH A CLASSROOM SETTING AND VIA WEBINAR. IN 2019, NDC WORKING AGAIN WITH THE CONNECTICUT HOUSING FINANCE AUTHORITY AND THE CONNECTICUT HOUSING AGENCY EXPANDED THE CONNECTICUT HOUSING ACADEMY TO SUPPORT THE SKILLS OF NONPROFITS WORKING TO CREATE AND PRESERVE AFFORDABLE HOUSING IN THE STATE. THE ACADEMY PROVIDES TRAINING AND TECHNICAL ASSISTANCE IN THE CREATION AND PRESERVATION OF AFFORDABLE RENTAL HOUSING TO HOUSING AUTHORITIES, NONPROFIT OWNERS, AND DEVELOPERS OF AFFORDABLE HOUSING IN THE STATE. - IN 2019, NDC RAISED CAPITAL FROM SEVERAL FOUNDATION SOURCES TO FUND THE ON-LINING OF OUR ECONOMIC DEVELOPMENT TRAINING. WE ARE STARTING WITH ED101, MOVED FORWARD WITH ED 201AND STARTED DESIGNING HD 420 AND ED 202 AND WILL EVENTUALLY OFFER BOTH OUR ECONOMIC DEVELOPMENT AND HOUSING FINANCE CERTIFICATION SERIES ON-LINE. FORM 990, PART III, LINE 4C CONTINUATION: WORKING WITH THE NATIONAL RURAL HOUSING COALITION, RURAL LISC, CDFI'S, NEIGHBORHOOD HOUSING CORPORATIONS AND VARIOUS STATE AFFORDABLE HOUSING COALITIONS, NDC PROVIDES CONTINUING TECHNICAL ASSISTANCE, TRAINING, AND FINANCIAL SUPPORT TO RURAL HOUSING ORGANIZATIONS ACROSS THE NATION. HEDC IS A NATIONAL LEADER IN LOW INCOME HOUSING THROUGH BOTH DEVELOPMENT AND INVESTMENT. WORKING IN PARTNERSHIP WITH NONPROFIT ORGANIZATIONS AND SERVICE PROVIDERS AROUND THE NATION, HEDC HAS DEVELOPED, FINANCED, OPERATED, AND/OR MANAGED OVER 11,222 UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE LOW-INCOME HOUSING TOTALING $1.7 BILLION OF INVESTMENT IN LOW INCOME COMMUNITIES IN MORE THAN 30 STATES. IN 2018, THROUGH OUR LOW-INCOME HOUSING DEVELOPMENT AND INVESTMENT ACTIVITIES, HEDC INVESTED IN 10 PROJECTS CONTAINING 956 UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE HOUSING FOR LOW INCOME PERSONS AND FAMILIES, THE ELDERLY, AND PEOPLE WITH SPECIAL NEEDS. INVESTMENT AND DEVELOPMENT ACTIVITIES TOTALED $66 MILLION. THE FOLLOWING ARE REPRESENTATIVE SAMPLES OF HEDC AFFORDABLE HOUSING PROJECTS COMPLETED IN 2018: COURTLAND ARMS NEW BRITAIN, CT NDC CORPORATE EQUITY FUND MADE AN EQUITY INVESTMENT OF $3,436,936 FOR THIS $7,349,352 AFFORDABLE HOUSING RENOVATION PROJECT LOCATED IN NEW BRITAIN, CONNECTICUT. THE PROJECT IS PROVIDING PERMANENT HOUSING FOR 24 FAMILIES/INDIVIDUALS. THE PROJECT WILL CONTAIN 24 ONE BEDROOM UNITS, FOUR WILL BE AVAILABLE TO RENTERS WITH INCOMES BELOW 25% OF AREA MEDIAN INCOME, SEVEN UNITS WILL BE AVAILABLE FOR RENTERS WITH INCOMES BELOW 50% OF AREA MEDIAN INCOME AND THIRTEEN UNITES WILL BE OCCUPIED BY RENTERS WITH INCOMES BELOW 60% OF AREA MEDIAN INCOME. RENTAL ASSISTANT PAYMENTS WILL BE AVAILABLE TO SELECTED RENTERS TO OFFSET RENT LOSS DUE TO OCCUPANTS HAVING INCOMES BELOW THOSE OUTLINED ABOVE. THE DEVELOPER IS CHRYSALIS CENTER REAL ESTATE CORPORATION OF HARTFORD, CONNECTICUT. NORTHERN HOTEL FORT COLLINS - CO NDC CORPORATE EQUITY FUND MADE A $2,266,622 EQUITY INVESTMENT IN A 47-UNIT SENIOR PROJECT DEVELOPED BY MJT PROPERTIES, INC OF ENGLEWOOD, COLORADO. THIS $6,671,600 PROJECT IS A RE-SYNDICATION OF THE ORIGINAL 2000/2001 RENOVATION OF THIS HISTORIC HOTEL AND IS PROVIDING 47-UNITS OF FULLY RENOVATED AFFORDABLE LIVING FOR SENIORS (55+) WHOSE INCOMES RANGE FROM 40% TO 60% OF AREA MEDIAN INCOME FOR THE FORT COLLINS SMSA. RENTS FOR THE 41ONE BEDROOM UNITS IS $595 A MONTH AND THE TWO-BEDROOM UNITS WILL RENT FOR $714 A MONTH. ST. JOSEPH'S COMMONS CLEVELAND, OH ST JOSEPH'S COMMONS APARTMENTS IS A 68-UNIT NEW CONSTRUCTION RENTAL PROPERTY LOCATED IN CLEVELAND, OHIO. THE PROJECT SPONSOR IS FRONT STEPS HOUSING SERVICES A CLEVELAND BASED NONPROFIT ENGAGED IN THE DEVELOPMENT OF AFFORDABLE HOUSING. NDC CORPORATE EQUITY FUND INVESTED $10, 613,464 IN EQUITY INTO THIS $14,041,515 PROJECT. EIGHTEEN OF THE UNITS WILL BE RENTED TO FAMILIES WHOSE INCOMES DO NOT EXCEED 30% OF THE AREA MEDIAN INCOME, TWENTY THREES UNITS TO THOSE WHOSE INCOMES DO NOT EXCEED 50% OF THE AREA MEDIAN INCOME, AND TWENTY SEVEN UNITS TO THOSE WHOSE INCOME DO NOT EXCEED 60% OF THE AREA MEDIAN INCOME. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY OUTSIDE TAX PREPARERS IN CONSULTATION WITH MANAGEMENT AND AUDITORS. A DRAFT OF THE FULL FORM 990 WAS PROVIDED TO THE ENTIRE BOARD FOR REVIEW. A COMPLETE COPY OF THE FINAL FORM 990 WAS PROVIDED TO THE ORGANIZATION'S ENTIRE BOARD BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF NDC'S BOARD OF DIRECTORS AND EXECUTIVE EMPLOYEES ARE REQUIRED ANNUALLY TO EXECUTE A CONFLICT OF INTEREST POLICY AND COMPENSATION GUIDELINES ACKNOWLEDGEMENT STATING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST POLICY AND COMPENSATION GUIDELINES. THE CONFLICT OF INTEREST POLICY AND COMPENSATION GUIDELINES REQUIRES BOARD MEMBERS AND EXECUTIVE EMPLOYEES TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST IMMEDIATELY. UPON DISCLOSURE OF A POTENTIAL CONFLICT OF INTEREST, THE CHAIRPERSON OF THE BOARD WILL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION. VIOLATIONS OF THE CONFLICT OF INTEREST POLICY CAN RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALSO, ALL BOARD MEMBERS, BY EXECUTING THE ANNUAL ACKNOWLEDGEMENT STATEMENT, CONCERNING THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES, ACKNOWLEDGE THAT NDC SHALL REMAIN FAITHFUL TO ITS CHARITABLE PURPOSES. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS OF NDC HAS A STANDING COMPENSATION REVIEW COMMITTEE, THE MEMBERS OF WHICH ARE ALL INDEPENDENT DIRECTORS. THE COMMITTEE ENGAGES A THIRD PARTY INDEPENDENT CONSULTANT TO REVIEW THE COMPENSATION OF THE PRESIDENT EVERY TWO YEARS. THE COMMITTEE REVIEWS AND DISCUSSES THE FINDINGS AT A SPECIAL SESSION WITH ALL BOARD MEMBERS PRESENT EXCEPT THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE BY REQUEST. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 548,393. MANAGEMENT AND GENERAL EXPENSES 503,111. FUNDRAISING EXPENSES 102,540. TOTAL EXPENSES 1,154,044. FORM 990, PART XI, LINE 9: CHANGES IN FUNDED STATUS OF QUALIFIED PENSION PLAN -161,016. CHANGES IN FUNDED STATUS OF NON-QUALIFIED PENSION PLAN -1,247,888. OTHER COMPONENTS OF NET PERIODIC BENEFIT COST 10,312. FROM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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