2019-11-11T10:33:07-06:00 2018-12-31 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2018-01-01 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 2019-11-11 1 LORI ROTHE YOKOBOSKY CPA P01273422 2122970400 2019-11-11 209.3.217.20 2019-11-11 09:28:51 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0FC5460241256066D74A2C5C66FD8B85E1F8608D 2018 2020-03-31 21:24:44Z THE NATIONAL DEVELOPMENT COUNCIL DANIEL MARSH III ONE BATTERY PARK PLAZA NO 710 NEW YORK NY 10004 10178135 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. 5 5 79 5 0 24983 4375706 4663809 5318990 5475241 -272943 39085 1626 0 9423379 10178135 932918 301006 0 0 5196964 5078653 0 0 0 4394437 4734547 10524319 10114206 -1100940 63929 13881386 12741704 7209646 6818882 6671740 5922822 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 2529848 301006 1288666 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) 1189246 2056939 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) 3502869 2129636 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) 7221963 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 45 0 1 79 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 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 2.20 0.50 X 0 0 0 JOHN DOWNS BOARD MEMBER 2.20 0.50 X 0 0 0 ROBERT DAVENPORT OUTGOING BOARD MEMBER 11.75 13.75 X 0 0 0 SAUNDRA JOHNSON HUDSON CHAIRWOMAN 2.20 0.50 X X 0 0 0 SETH BONGARTZ SECRETARY 2.20 0.50 X X 0 0 0 TOMASITA DURAN BOARD MEMBER 2.20 0.50 X 0 0 0 DANIEL MARSH III PRESIDENT 49.50 5.50 X 329896 0 81401 GERTRUDE SCRIVEN TREASURER 47.50 2.50 X 169060 0 27091 ADAM ENNIS CFO 6.00 44.00 X 179853 0 49302 ANN VOGT PRODUCT MANAGER 7.15 47.85 X 306308 0 37697 KEVIN GREMSE REGIONAL MANAGER 47.00 3.00 X 194205 0 49190 ANGELA BUTLER PRODUCT MANAGER 40.50 10.50 X 181342 0 62803 CHARLEY DEPEW SENIOR DIRECTOR 47.00 3.00 X 182469 0 53351 JANE CAMPBELL SENIOR DIRECTOR 43.20 1.80 X 213752 0 47555 STEPHANIE DUGAN PRODUCT MANAGER 47.00 3.00 X 190986 0 42990 THOMAS JACKSON PRODUCT MANAGER 47.00 3.00 X 178478 0 21561 2126349 0 472941 39 0 1 0 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 AUDITING AND TAX SERVICES 273360 SHALLO GALLUSCIO AND BIANCHI 21 NORTH SEVENTH STREET HUDSON NY 12534 ACCOUNTING SERVICES 210000 2 3701467 962342 4663809 TECHNICAL ASSISTANCE 541900 3397754 3397754 TRAINING REVENUE 541900 1997106 1997106 LOAN INTEREST 541900 80381 80381 5475241 39085 39085 10178135 5475241 0 39085 301006 301006 1424003 1133748 290255 2548154 2033052 515102 225011 157030 67981 643778 524565 119213 237707 190386 47321 95026 95026 207087 207087 129993 129993 3404 3404 759334 274925 484409 5774 3230 2544 280571 222378 58193 716495 548919 167576 357163 286240 70923 702516 594432 108084 316575 316575 126479 97947 28532 181411 181411 TRAINING SITES 375775 375775 EQUIPMENT LEASE AND MAI 160395 128545 31850 SUBS. AND MEMBERSHIPS 98841 79214 19627 TEMPORARY EMPLOYEES 89749 71927 17822 127959 68651 59308 10114206 7221963 2892243 0 919483 386297 2182038 643504 1641465 2385355 8038043 8038043 51800 52700 1348579 1020040 409755 328539 497493 728630 108000 149822 33309 28814 13881386 12741704 1164284 601946 159044 164655 5886318 6052281 7209646 6818882 X 5682273 5261380 989467 661442 6671740 5922822 13881386 12741704 X 63929 -12720 -800127 X X 0 1 X 1 0 X 2881261 4089562 4616744 4375706 4663809 20627082 5705203 5525288 5481765 5318990 5475241 27506487 8586464 9614850 10098509 9694696 10139050 48133569 1250000 3409562 4297869 3834170 3450702 16242303 0 1250000 3409562 4297869 3834170 3450702 16242303 31891266 255729 215571 124010 13754 39085 648149 255729 215571 124010 13754 39085 648149 33112 1626 34738 8842193 9830421 10255631 9710076 10178135 48816456 0.65330 0.98430 0.01330 0.01500 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DISTRIBUTION FROM PARTNERSHIP - 2016 AMOUNT: $ 33,112. MISCELLANEOUS - 2017 AMOUNT: $ 1,626. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 129993 129993 9984213 10114206 655710 163928 0 0 789111 694669 676216 655710 2815706 4223559 125446 104305 140437 129993 500181 197278 173667 169054 163928 703927 1055891 202452 56920 145532 1146127 963120 183007 328539 ACCRUED NON-QUALIFIED PENSION LIABILITY 720625 ACCRUED DEFINED BENEFIT PLAN PENSION LIABILITY 4567620 DEFERRED RENT 454169 DUE TO AFFILIATES 309867 6052281 X 10165415 -12720 -12720 10178135 0 10178135 10114206 0 10114206 0 10114206 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, 2018 AND 2017. THE ORGANIZATION FILES FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WITH THE INTERNAL REVENUE SERVICE ANNUALLY. AT DECEMBER 31, 2018, THE ORGANIZATION'S FORM 990 FOR THE YEARS ENDED 2015 THROUGH 2018 REMAIN ELIGIBLE FOR EXAMINATION BY THE IRS. 1 EDISON DEVELOPMENT CORP 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 463757191 501(C)(3) 64671 OPERATING SUPPORT GREATER SALT LAKE DEVELOPMENT CORP 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 463784495 501(C)(3) 80000 OPERATING SUPPORT NDC COMMUNITY IMPACT LOAN FUND 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 133678913 501(C)(3) 100000 OPERATING SUPPORT NDC SUPPORT I INC 1 BATTERY PARK PLAZA SUITE 710 NEW YORK NY 10004 134156877 501(C)(3) 56335 OPERATING SUPPORT 4 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 323800 0 0 0 6096 0 55248 0 26153 0 411297 0 0 0 GERTRUDE SCRIVEN TREASURER 165479 0 0 0 3581 0 10368 0 16723 0 196151 0 0 0 ADAM ENNIS CFO 179610 0 0 0 243 0 11400 0 37902 0 229155 0 0 0 ANN VOGT PRODUCT MANAGER 302744 0 0 0 3564 0 20155 0 17542 0 344005 0 0 0 KEVIN GREMSE REGIONAL MANAGER 193377 0 0 0 828 0 11888 0 37302 0 243395 0 0 0 ANGELA BUTLER PRODUCT MANAGER 180652 0 0 0 690 0 17776 0 45027 0 244145 0 0 0 CHARLEY DEPEW SENIOR DIRECTOR 180410 0 0 0 2059 0 14249 0 39102 0 235820 0 0 0 JANE CAMPBELL SENIOR DIRECTOR 208083 0 0 0 5669 0 31646 0 15909 0 261307 0 0 0 STEPHANIE DUGAN PRODUCT MANAGER 189593 0 0 0 1393 0 15637 0 27353 0 233976 0 0 0 THOMAS JACKSON PRODUCT MANAGER 176260 0 0 0 2218 0 17073 0 4488 0 200039 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 16,000 JOBS AND 11,500 OF THOSE JOBS ARE CONSIDERED FILLED BY LOW AND MODERATE-INCOME PERSONS. - 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. NDC IS CURRENTLY NEGOTIATING WITH EDA TO ACQUIRE FUNDS TO EXPAND THE LENDING FOOTPRINT. - NDC THROUGH ITS CDFI, NDC COMMUNITY IMPACT LOAN FUND HAS ENTERED INTO A LENDING PARTNERSHIP WITH THE NATIONAL URBAN LEAGUE, THE URBAN EMPOWERMENT FUND AND LOCAL URBAN LEAGUE CHAPTERS TO MAKE LOANS AVAILABLE TO AFRICAN-AMERICAN BORROWERS IN SELECTED URBAN MARKETS ACROSS THE UNITED STATES. IN 2018, THE GREATER CLEVELAND CAPITAL ACCESS FUND AND THE CAPITAL ACCESS FUND EXPANDED TO BROWARD COUNTY, FL MADE 19 LOANS TOTALING $2,271,500. 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 2018, GAF MADE 30 LOANS TOTALING $13,146,000. THE FOLLOWING ARE 2018 EXAMPLES OF BUSINESSES NDC'S SBA 7A SMALL BUSINESS LOAN PROGRAM HAS ASSISTED: PRIME FOR DIME: PRIME FOR THE DIME INC. ("PFD"), LOCATED IN BROOKLYN, NEW YORK, IS A BEAUTY PRODUCTS DISTRIBUTOR IN OPERATION SINCE 2015. THE COMPANY HAS RELATIONSHIPS WITH HIGH-QUALITY, LOW-COST, BEAUTY PRODUCT MANUFACTURERS LOCATED ABROAD. IN TURN, PFD LEVERAGES THOSE RELATIONSHIPS TO BUY STRAIGHT FROM THE SOURCE AND THEN TO SELL ONLINE. HISTORICALLY, THE COMPANY FOCUSED ON SALES OF HIGH-QUALITY PERFUMES, WHICH IN TURN THEY RETAIL ON AMAZON AND OTHER ONLINE MARKETS. GAF PROVIDED A LOAN OF $300,000 TO FUND PERMANENT WORKING CAPITAL TO ASSIST THE COMPANY WITH ITS EVER-GROWING RECEIVABLES. GIFTS OF LOVE FAMILY DAYHOME: GIFTS OF LOVE FAMILY DAYHOME ("SBC", "GIFTS OF LOVE") IS IN THE WHITEHAVEN NEIGHBORHOOD OF MEMPHIS, TENNESSEE SERVING PARENTS/GUARDIANS OF CHILDREN FROM 5 MONTHS OF AGE TO 12 YEARS. GIFTS OF LOVE RECEIVED A LOAN OF $350,000 TO PURCHASE THE BUILDING THAT THEY PREVIOUSLY LEASED PROVIDING THE BUSINESS WITH A PERMANENT HOME. RJ DEMOLITION AND INDUSTRIAL SHOP: RJ'S DEMOLITION AND DISPOSAL (RJ'S) WAS STARTED IN 1999 AS A LICENSED DEMOLITION CONTRACTOR. WHILE ORIGINALLY GENERATING MOST OF ITS REVENUES THROUGH DEMOLITION AND TRASH HAULING SERVICES FOR LARGE AND SMALL CONTRACTORS AROUND LOS ANGELES & SURROUNDING COUNTIES, RJ'S NOW OPERATES FOUR RETAIL HOME IMPROVEMENT SUPPLY STORES IN THE SOUTH BAY AS ITS PRINCIPAL SOURCE OF REVENUE. THE COMPANY IS ALSO ENGAGED IN THE RECYCLING AND RESALE OF GREEN WASTE WITH RECYCLING CENTER OPERATIONS AND SERVICES BEING PROVIDED AT THE INGLEWOOD AND GARDENA LOCATIONS. 2018 GROWTH PLANS INCLUDE CENTRALIZING AND EXPANDING THE RECYCLING CENTER OPERATIONS AT A NEW LOCATION IN BAKERSFIELD, CA. GAF PROVIDED A LOAN OF $1,030,000 TO ACQUIRE THE PERMITTING NECESSARY TO INSTALL SOLAR PANELS ON ITS INGLEWOOD FACILITY PROVIDING THE COMPANY WITH SIGNIFICANT ENERGY COST SAVINGS. GAF ALSO PROVIDED FUNDS TO EXPAND THE COMPANY'S RECYCLING SERVICES. CSA HEATING AND AIR: ESTABLISHED IN THE GREATER SALT LAKE CITY AREA IN 2014, CSA HEATING & AIR PROVIDES A COMPLETE HVAC SOLUTION FOR HOMES AND BUSINESSES INCLUDING GEOTHERMAL SYSTEMS. THE OWNERS BELIEVE THAT CONTINUING EDUCATION, FOR ALL THEIR REPAIR TECHNICIANS AND BUILDING CREWS, BRINGS THEIR CUSTOMERS MORE EFFICIENT AND INFORMED SERVICE. GAF PROVIDED A $500,000 LOAN TO REFINANCE OF SHORT TERM, HIGH INTEREST LOANS FROM PREDATORY ONLINE LENDERS AND PROVIDED NEW PERMANENT WORKING CAPITAL TO FUND CONTINUED GROWTH. PULP FOODS: FOUNDED IN 2016, PULP FOODS LLC IS A TEA/COFFEE ROASTER AND WHOLESALER LOCATED IN SAN ANTONIO, TEXAS. THE COMPANY DISTRIBUTES OUT OF ITS OWN LABEL BUT SPECIALIZES IN PRIVATE LABEL AND CONTRACT ROASTING AS WELL. PULP ALSO DISTRIBUTES COFFEE EQUIPMENT TO COFFEE SHOPS IN NEED. GAF PROVIDED A LOAN OF $125,000 TO PURCHASE TWO COMMERCIAL ESPRESSO MACHINES FOR ITS TASTING ROOM, TO REFINANCE SOME OF ITS POORLY STRUCTURED DEBT, FOR LEASEHOLD IMPROVEMENTS RELATED TO THEIR EXPANSION, AND FOR PERMANENT WORKING CAPITAL. JJ MINK: DOING BUSINESS AS JOJO CARLONI'S, JJ MINK IS AN ITALIAN FULL-SERVICE RESTAURANT. THE RESTAURANT OUTGREW ITS OLD LOCATION IN OLMSTED TOWNSHIP, OHIO AND USED GAF FINANCING TO RELOCATE TO BEREA, OHIO WHERE IT NOW OCCUPIES A MUCH BIGGER SPACE AND INCREASED ITS DINING CAPACITY FROM 7 TO 30 TABLES. THE BEREA LOCATION REMAINS A FULL SERVICE, FAMILY FRIENDLY, ITALIAN RESTAURANT THAT SERVES FAMILY RECIPES. THE RESTAURANT OFFERS HIGH QUALITY, NATURAL FOOD SELECTIONS AS AFFORDABLE AS POSSIBLE. ITALIAN WINES AND BEERS WILL BE OFFERED, AND THE ATMOSPHERE WILL BE QUAINT AND CASUAL. PIZZAS WILL BE PRODUCED VERY QUICKLY USING A TURBOCHEF PIZZA OVEN THAT WILL COOK A PIZZA IN 2 MINUTES VERSES 15-20 MINUTES. THE RESTAURANT WILL SERVICE BREAKFAST, LUNCH, DINNER, AND WEEKEND BRUNCH. GAF PROVIDED A $315,000 LOAN WHICH FUNDED $220,000 IN MACHINERY AND EQUIPMENT, $50,000 IN REFINANCING DEBT, $31,000 IN PERMANENT WORKING CAPITAL, AND $14,000 IN SOFT AND CLOSING COSTS. KONA ICE: NORCAL CONCESSION MANAGEMENT LLC DOING BUSINESS AS KONA ICE OF TRACY, CALIFORNIA WAS ESTABLISHED IN 2015. THEIR FIRST MOBILE UNIT WAS PLACED IN SERVICE EARLY IN 2015 AND A KIOSK TRAILER WAS ADDED SHORTLY THEREAFTER. THE BUSINESS OPERATES FROM MARCH THROUGH DECEMBER. THE MOBILE UNIT VISITS FAIRS AND FESTIVALS, FUNDRAISING AND OTHER PRIVATE EVENTS, AS WELL AS LOCAL BUSINESSES IN THE TRACY AREA. GAF PROVIDED A $105,000 LOAN TO REFINANCE THE ORIGINAL MOBILE UNIT AND TO PROVIDE WORKING CAPITAL. ACCUAIR MECHANICAL: STARTED IN 2015 AND BASED OUT OF SAN ANTONIO, TEXAS, THE BUSINESS COVERS A 50-MILE RADIUS DELIVERING COMMERCIAL HVA SERVICES THAT INCLUDES HEATING AND COOLING SYSTEMS, COMMERCIAL REFRIGERATION SERVICE AND COMMERCIAL BOILER SERVICES. IT WORKS EXCLUSIVELY WITH COMMERCIAL, INDUSTRIAL AND GOVERNMENT CUSTOMERS AND OFFERS INSTALLATION, MAINTENANCE AND REPAIR SERVICES TO NEARLY ANY HVA SYSTEM. GAF PROVIDED TWO LOANS. THE COMPANY UTILIZED THE FIRST LOAN OF $205,000 TO PURCHASE ADDITIONAL LAND AND AN OUT OF SERVICE FIRE STATION TO HOUSE THE GROWING BUSINESS. THE SECOND LOAN OF $330,000 REFINANCED EXISTING DEBT AND PROVIDED PERMANENT WORKING CAPITAL IN SUPPORT OF ITS OPERATIONS AS A HVAC INSTALLER AND SERVICER. ALL THE BORROWERS ILLUSTRATED ABOVE WERE UNABLE TO SECURE LOANS FROM CONVENTIONAL LENDERS UNDER SIMILAR TERMS AND CONDITIONS. IF GAF WERE UNABLE TO MAKE THE LOANS, EACH OF THE BORROWERS WOULD HAVE BEEN UNABLE TO EXPAND THEIR BUSINESSES AND CREATE JOBS. FORM 990, PART III, LINE 4B CONTINUATION: THROUGH THESE SERVICES, NDC ACHIEVED FINANCING FOR PROJECTS AND PROGRAMS, WITH GOVERNMENT AND PRIVATE SECTOR FUNDS, IN EXCESS OF $2 BILLION. A SAMPLE OF THE PROJECTS FOR WHICH NDC IS PROVIDING TECHNICAL ASSISTANCE AND TRAINING AROUND THE COUNTRY INCLUDE: - IN 2016, NDC, WORKING WITH THE CITY OF SCRANTON, PA ENTERED A 49-YEAR CONCESSION LEASE TO OPERATE AND IMPROVE THE ON-STREET AND OFF-STREET PARKING ASSETS OF THE CITY. THE CITY OF SCRANTON OPERATED UNDER EXTREME FISCAL CONSTRAINTS FOR THE LAST TWENTY YEARS. THE PARKING CONCESSION WAS PART OF A LARGER PLAN TO RESTRUCTURE THE CITY'S FINANCES AND RETURN THE COMMUNITY TO A SOUND FINANCIAL FOOTING. THE $40 MILLION TAX-EXEMPT FINANCING PROVIDED FUNDS THAT ALLOWED THE CITY TO MEET ITS UNFUNDED PENSION LIABILITY AND REFINANCE EXISTING DEBT. IN 2017 NDC COMMENCED THE REORGANIZATION OF THE OFF-STREET PARKING SYSTEM BY INCLUDING THE STEAM TOWN MALL IN THE PUBLIC PARKING INVENTORY. ALSO, CONSTRUCTION CONTRACTS WERE BID, AND IN 2018, AN AGREEMENT REACHED WITH THE CITY AND THE SPA TO PURCHASE AND INSTALL A NEW ON STREET METER SYSTEM. THE PARKING SYSTEM IS CURRENTLY OPERATING AT A 1.4:1 DCR AND WITH THE NEW ON-STREET REVENUE CONTROL SYSTEM PROJECTED TO COME ON LINE IN LATE 2019, WE ARE HOPEFUL THAT FINANCIAL PERFORMANCE WILL IMPROVE. - IN 2004 UNIVERSITY OF WASHINGTON SCHOOL OF MEDICINE BEGAN RENOVATING THEIR EXISTING BROTMAN BUILDING INTO A STATE-OF-THE-ART BIOMEDICAL RESEARCH FACILITY. THE UNIVERSITY WAS CHALLENGED TO DELIVER THE PROJECT IN A TIMELY AND EFFICIENT MANNER AND ASKED HEDC TO ASSIST BY UNDERTAKING THE MULTI-PHASE PROJECT ON THEIR BEHALF. THE THIRD PHASE IN UW MEDICINE'S SOUTH LAKE UNION CAMPUS CONSISTS OF THREE PHASES. PHASE 3.1 BROKE GROUND IN SUMMER 2011 AND WAS COMPLETED IN 2013. IT INCLUDED THE CONSTRUCTION OF A 138,000 SQUARE-FOOT RESEARCH LABORATORY BUILDING DIRECTLY ACROSS THE STREET FROM THE FIRST AND SECOND PHASES OF THE SOUTH LAKE UNION CAMPUS. THE NEXT PHASE OF THE PROJECT IS WASHINGTON BIOMEDICAL RESEARCH PROPERTIES 3.2 (WBRP 3.2) IS AN EIGHT-STORY, APPROXIMATELY 157,000 SF BIOMEDICAL FACILITY THAT HAS BEEN CONSTRUCTED OVER THE FOUNDATION AND PARKING FROM WBRF 3. THE FINANCING FOR PHASE 3.2 CLOSED IN 2015 AND THE PROJECT WAS COMPLETED IN EARLY SUMMER OF 2018. THE BUILDING IS CURRENTLY BEING COMMISSIONED AND WBRP 3.2 IS BUILDING OUT THE EIGHTH FLOOR WITH DOLLARS SAVED DURING THE CONSTRUCTION PROCESS. THE PHASES I, II, AND III PROVIDE OVER 800,000 GSF OF RESEARCH AND OFFICE SPACE IN SUPPORT OF SCHOOL OF MEDICINE RESEARCH PROGRAMS. - 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. - IN 2018, NDC TRAINING DELIVERED A TOTAL OF 334 DAYS OF TRAINING TO OVER 2,800 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 2018, 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 2018, NDC RAISED CAPITAL FROM SEVERAL FOUNDATION SOURCES TO FUND THE ON-LINING OF OUR ECONOMIC DEVELOPMENT TRAINING. WE ARE STARTING WITH ED101 AND WILL EVENTUALLY OFFER BOTH OUR ECONOMIC DEVELOPMENT AND HOUSING FINANCE CERTIFICATION SERIES ON-LINE. - NDC IS CONTINUING ITS WORK WITH SALT LAKE, SALT LAKE COUNTY AND THE CITY OF OGDEN, ALONG 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. 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. THROUGH OUR HOUSING DEVELOPMENT AFFILIATES, NDC HAS DEVELOPED 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, NDC 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 NDC AFFORDABLE HOUSING PROJECTS COMPLETED IN 2018: PATRICIA K APARTMENTS SEATTLE, WA NDC CORPORATE EQUITY FUND MADE AN EQUITY INVESTMENT OF $10,238,174 FOR THIS $15,222,000 SUPPORTIVE HOUSING PROJECT IN SEATTLE, WASHINGTON. THE PROJECT IS PROVIDING PERMANENT SUPPORTIVE HOUSING FOR 52 INDIVIDUALS WITH MENTAL ILLNESSES. IT IS BEING DEVELOPED ALONGSIDE JUDKINS JUNCTION, A 74-UNIT PROJECT FOR LOW-WAGE WORKERS AND FAMILIES, AT THE CORNER OF 23RD AVENUE AND S. JACKSON STREET IN SEATTLE. THE SUPPORTIVE SERVICES WILL BE PROVIDED BY COMMUNITY HOUSE MENTAL HEALTH AGENCY WHICH WAS FOUNDED IN THE EARLY 1960'S. CHNHS HELPS PEOPLE WITH SEVERE AND PERSISTENT MENTAL ILLNESS INCREASE THEIR SOCIAL, VOCATIONAL AND LIFE SKILLS WITH RECOVERY AS THE PROGRAM'S OVERALL GOAL. MCGREGOR SENIOR ASSISTED LIVING EAST CLEVELAND, OH NDC MADE A $3,196,302 EQUITY INVESTMENT IN A 90 UNIT ASSISTED LIVING PROJECT DEVELOPED BY THE MCGREGOR FOUNDATION IN EAST CLEVELAND, OHIO. THIS $19,810,966 PROJECT UNDERTAKEN BY THE MCGREGOR FOUNDATION AS PART OF ITS SENIOR LIVING CAMPUS IS PROVIDING 50-UNITS OF AFFORDABLE ASSISTED LIVING FOR INDIVIDUALS WHOSE INCOME DOES NOT EXCEED 60% OF AREA MEDIAN INCOME FOR THE ELYRIA, OHIO SMSA. THE REMAINING 40-UNITS WILL BE AT MARKET RATE. RENTS FOR INCOME RESTRICTED STUDIOS IS $630 AND MONTH AND THE ONE-BEDROOM UNITS WILL RENT FOR $690 A MONTH. PENDLETON PLACE APARTMENTS MEMPHIS, TN PENDLETON PLACE APARTMENTS IS AN EXISTING RENTAL PROPERTY THAT IS BEING REHABILITATED TO CREATE 120 UNITS OF AFFORDABLE RENTAL HOUSING. BUILT IN 1950, THE PROJECT IS A PROJECT-BASED SECTION 8 FAMILY PROPERTY CONSISTING OF 18 BUILDINGS AND 120 UNITS OF TWO AND THREE-BEDROOM APARTMENTS. PENDLETON PLACE IS IN SOUTH MEMPHIS IN PROXIMITY OF THE CENTRAL BUSINESS DISTRICT AND ALL ESSENTIAL SERVICES. THE FINANCING FOR THIS PROJECT INCLUDES AN INSURED HUD 221(D)(4) MORTGAGE. NDC INVESTED $4,641,015 OF THE $15,900,00 REQUIRED TO COMPLETELY RENOVATE THE BUILDINGS. UPGRADES INCLUDE NEW ROOFS, WINDOWS, SIDING, HVAC SYSTEMS, PLUMBING AND ELECTRICAL UPGRADES, INTERIOR RENOVATIONS INCLUDE NEW KITCHENS AND BATHROOMS, FLOORING AND INTERIOR PAINT. IN ADDITION, THE DEVELOPER IS BUILDING A NEW COMMUNITY CENTER, PLAYGROUND AND PAVILION PICNIC AREA. 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 XI, LINE 9: CHANGES IN FUNDED STATUS OF QUALIFIED PENSION PLAN -631,762. CHANGES IN FUNDED STATUS OF NON-QUALIFIED PENSION PLAN -168,365. FROM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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