2017-11-15T15:13:24-06:00 2016-12-31 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2016-01-01 112933129 NDC HOUSING & ECONOMIC DEVELOPMENT corporation NDCH 2126821106 ONE BATTERY PARK PLAZA No 710 new york NY 10004 Robert W Davenport Chairman 2126821106 2017-11-14 1 THOMAS LANNING P00851654 2122970400 2017-11-14 209.3.217.20 2017-11-14 17:25:29 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 60BF0225ED9631091DB686CFA622195BA7284DF5 2016 2021-01-29 14:40:06Z Robert W Davenport ONE BATTERY PARK PLAZA No 710 new york NY 10004 10690359 0 X n/a X 1988 VA NDC Housing and Economic Development Corporation was organized for the following charitable purposes: to construct new and support existing safe and adequate low-income housing for disadvantaged persons; thereby assisting generally in the alleviation of housing shortages throughout the United States; to stimulate economic development in economically distressed areas of the country; and to assist in the erection and maintenance of public buildings, monuments or facilities; to lessen the burdens of governments; and to promote social welfare. 13 0 0 13 0 0 3381174 1715000 3278752 8711376 37250 84615 330266 179368 7027442 10690359 871864 4108247 0 0 3890679 3258320 0 0 0 1317832 2337754 6080375 9704321 947067 986038 13877566 17430967 1747803 4315166 12129763 13115801 X NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION WAS ORGANIZED FOR THE FOLLOWING CHARITABLE PURPOSES:a. to construct new low income housing and to develop, manage, operate, promote, fund, and support existing low income housing for persons of limited financial means, handicapped persons, elderly persons, and other persons in need of safe adequate affordable housing and to assist generally in the alleviation of housing shortages throughout the US.b. to assist in the erection and maintenance of public buildings, monuments, facilities, or works; to lessen the burdens of government; and to promote social welfare. 0 0 6436786 4108247 7409334 TO CONSTRUCT NEW LOW INCOME HOUSING AND TO DEVELOP, MANAGE, OPERATE, PROMOTE, FUND, AND SUPPORT EXISTING LOW INCOME HOUSING FOR PERSONS OF LIMITED FINANCIAL MEANS, HANDICAPPED PERSONS, ELDERLY PERSONS, AND OTHER PERSONS IN NEED OF SAFE ADEQUATE AFFORDABLE HOUSING AND TO ASSIST GENERALLY IN THE ALLEVIATION OF HOUSING SHORTAGES THROUGHOUT THE US. LOW INCOME HOUSING: 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 A TOTAL OF 9,000 UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE LOW INCOME HOUSING TOTALING $1.5 BILLION OF INVESTMENT IN LOW INCOME COMMUNITIES IN 30 STATES ACROSS THE NATION. In 2016 through our low income housing development and investment activities, HEDC constructed or renovated 194 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 $23 million. The following is a sampling of HEDC affordable housing projects completed in 2016:Lincoln Senior Housing Caliente, Panaca and Pioche, NVThis acquisition/rehabilitation of 52 units in these historic and colorful communities in rural Lincoln County, Nevada provides affordable housing for seniors at 30, 40 and 50% AMI. Lincoln Senior is one of only two affordable housing properties in 10,000-plus square mile Lincoln County. All units have project based RD rental assistance. Renovations provided for extensive upgrades to the units as well as energy efficiency measures including state of the art heat pumps, a solar installation and water saving xeriscaping. Financing includes USDA 515 and 538 loans, HOME funds, LIHTC equity and renewable energy Investment Tax Credits.Mast Landing Dover, NHMast Landing is located in southeastern New Hampshire, a few miles northwest of Portsmouth and 55 miles from downtown Boston. The project is providing 52 units of affordable senior housing on a site in a newly developing area well-suited for senior housing. Services including meals, medication reminders, housekeeping and assistance in other activities are being made available to the residents by an outside provider, Abundant Blessings Homecare. "Assisted living" is intended for seniors who need some assistance in the activities of daily life but do not need to be in a health care facility. The project received allocations of both 4% and 9% Low Income Housing Tax Credits, and the New Hampshire Housing Finance Agency holds the first mortgage under its FHA Risksharing program. The sponsor, a long-established non-profit based in Portland, continues its mission to house the elderly.Carlson Crossing St Joseph, MNThis 36-unit townhome project, built in 1982 and located in a steadily growing suburb of St. Cloud, was rehabilitated by one of the state's most successful non-profit developers and development teams. Rents are restricted at 50% and units are covered by a project-based Section 8 contract. The renovation included improvements to the site and to building exteriors and unit interiors, ensuring that this family project would continue to provide safe, affordable and attractive housing for the community. 1098995 1286808 TO ASSIST IN THE ERECTION AND MAINTENANCE OF PUBLIC BUILDINGS, MONUMENTS, FACILITIES, OR WORKS TO LESSEN THE BURDEN OF GOVERNMENT AND TO PROMOTE SOCIAL WELFARE LESSENING THE BURDENS OF GOVERNMENT: HEDC ALSO PARTNERS WITH UNITS OF LOCAL GOVERNMENT TO ERECT AND MAINTAIN PUBLIC BUILDINGS, MONUMENTS, FACILITIES, AND WORKS TO LESSEN THE BURDENS OF GOVERNMENT AND TO PROMOTE SOCIAL WELFARE. IN TOTAL, HEDC HAS DEVELOPED AND FINANCED MORE THAN THIRTY PROPERTIES COSTING MORE THAN $2 BILLION ON BEHALF OF LOCAL GOVERNMENT INCLUDING PUBLIC BUILDINGS AND CITY HALLS, EDUCATIONAL AND MEDICAL RESEARCH FACILITIES, STUDENT HOUSING, AND PUBLIC INFRASTRUCTURE.DURING 2016, HEDC UNDERTOOK THE FOLLOWING PROJECTS UNDER THE MISSION OF LESSENING THE BURDENS OF GOVERNMENT. WASHINGTON BIOMEDICAL RESEARCH PROPERTIES SEATTLE, WAIN 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 INCLUDES 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 CURRENT PROPOSED PROJECT IS WASHINGTON BIOMEDICAL RESEARCH PROPERTIES 3.2 (WBRP 3.2). WBRP 3.2 WILL BE AN EIGHT-STORY, APPROXIMATELY 157,000 SF BIOMEDICAL FACILITY THAT WILL BE CONSTRUCTED OVER THE FOUNDATION AND PARKING FROM WBRF 3. TOTAL PROJECT COSTS ARE CURRENTLY ESTIMATED AT $143 MM. THE FINANCING FOR PHASE 3.2 CLOSED IN 2015 AND THE PROJECT BROKE GROUND. WHEN COMPLETED, PHASES I, II, AND III WOULD PROVIDE OVER 800,000 GSF OF RESEARCH AND OFFICE SPACE IN SUPPORT OF SCHOOL OF MEDICINE RESEARCH PROGRAMS.SCRANTON PARKING FACILITIES - SCRANTON, PAHEDC WAS REQUESTED BY THE CITY OF SCRANTON TO NEGOTIATE A LONG-TERM CONCESSION/LEASE FOR THE CITY OF SCRANTON PARKING SYSTEM, WHICH INCLUDED: 1) FIVE PARKING GARAGES CONTAINING 2659 SPACES AND APPROXIMATELY 36,000 SF OF RETAIL; 2) 1479 METERED PARKING SPACES; AND 3) 550 PUBLICALLY-LEASED PARKING SPACES. HEDC WORKING WITH THE CITY OF SCRANTON SUCCESSFULLY NEGOTIATED THE LEASE AND WILL BE RESPONSIBLE 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. THE CONSIDERATION AMOUNT GENERATED BY A CONCESSIONAIRE/LEASE AGREEMENT IS BEING USED BY THE CITY, IN COMBINATION WITH PROCEEDS FROM A GENERAL OBLIGATION ISSUANCE, TO DEFEASE OR REDEEM ALL OUTSTANDING DEBT ASSOCIATED WITH THE PARKING AUTHORITY. THIS WILL FREE THE CITY OF THE ON-GOING LIABILITY AND FREE MUNICIPAL REVENUES FOR OTHER CRITICAL NEEDS AND OBLIGATIONS. 688157 194602 TO INITIATE AND CARRY OUT ACTIVITIES TO STIMULATE ECONOMIC DEVELOPMENT IN THE ECONOMICALLY DEPRESSED AREAS OF THE US. IN PARTICULAR, TO UNDERTAKE ACTIVITIES THAT:- RELIEVE POVERTY AND LESSEN NEIGHBORHOOD TENSION CAUSED BY A LACK OF JOBS IN DETERIORATED AND DEPRESSED AREAS BY PROVIDING TRAINING OPPORTUNITIES FOR THE UNEMPLOYED AND CREATING JOB OPPORTUNITIES FOR DISADVANTAGED GROUPS.- COMBAT COMMUNITY DETERIORATION AND ELIMINATE BLIGHT BY UNDERTAKING ACTIVITIES THAT STIMULATE THE ESTABLISHMENT OF NEW BUSINESSES AMONG DISADVANTAGED GROUPS AND WHICH REHABILITATE AND REVIVE EXISTING BUSINESSES OPERATED BY DISADVANTAGED GROUPS.STIMULATE ECONOMIC DEVELOPMENT IN ECONOMICALLY DEPRESSED AREAS - HEDC WORKS WITH NONPROFIT ORGANIZATIONS AND SERVICE PROVIDERS AND UNITS OF LOCAL GOVERNMENT TO STIMULATE ECONOMIC DEVELOPMENT IN 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 86 PROJECTS TOTALING OVER $1.7 BILLION OF NEW INVESTMENT, CREATED OVER 8,600 PERMANENT JOBS FOR DISADVANTAGED INDIVIDUALS, AND BROUGHT BADLY NEEDED GOODS AND SERVICES TO LOW INCOME COMMUNITIES.HIGHLIGHTS OF HEDC PROJECTS THAT COMPLETED IN 2016 INCLUDED:ROSWELL PARK CANCER INSTITUTE - BUFFALO, NYROSWELL PARK CANCER INSTITUTE (RPCI), IS AMERICA'S FIRST CANCER CENTER FOUNDED IN 1898 BY DR. ROSWELL PARK. THE NON-PROFIT INSTITUTE HAS BEEN PROVIDING HOSPITAL CARE TO A MEDICALLY UNDERSERVED AREA IN BUFFALO, NY FOR OVER 100 YEARS. IN 2016, WITH THE ASSISTANCE OF THE NDC AND THE NMTC PROGRAM, RPCI COMPLETED A 140,000 SQUARE FOOT CLINICAL SCIENCE CENTER (CSC) BUILDING ON ITS CAMPUS. THE 11-STORY CSC BUILDING CONNECTS THE MAIN HOSPITAL TO A NEW RESEARCH CENTER AND EXPANDS THE INSTITUTE'S CANCER PREVENTION PROGRAM SPACE BY 100%. BENEFITS INCLUDE SPACE FOR ADMINISTRATIVE OFFICES PREVIOUSLY HELD IN THE MAIN HOSPITAL AND SPACE FOR UP TO 10,000 ADDITIONAL COMMUNITY MAMMOGRAM SCREENINGS TO BE PERFORMED EACH YEAR. THE INSTITUTE IS WORKING WITH SEVERAL AREA NONPROFIT AND GOVERNMENTAL ORGANIZATIONS TO RECRUIT LOW-INCOME EMPLOYEES TO FILL JOBS CREATED BY THE PROJECT. WEBPAGEFX HARRISBURG , PA IN 2016, HEDC UNDER THE NMTC PROGRAM ASSISTED WEBPAGEFX A FULL-SERVICE DIGITAL MARKETING AGENCY THAT WAS EXPERIENCING RAPID CLIENT AND EMPLOYEE GROWTH WHICH RESULTED IN IT OUTGROWING ITS CURRENT LEASED SPACE, IN ACQUIRING AND RENOVATING A NEIGHBORING OFFICE STRUCTURE BUILT IN THE 1960S. THE PROJECT CREATED 9 CONSTRUCTION FTES AND IS PROJECTED TO CREATE 100 FTES OVER A FIVE-YEAR PERIOD. 103 FTES WERE RETAINED. THE PROJECT IS PROJECTED TO PROVIDE COMMUNITY WEB SOFTWARE PROGRAMMING TRAINING 30-50 INDIVIDUALS PER MONTH AND COMMUNITY INTERNET MARKETING TRAINING 35-60 INDIVIDUALS PER QUARTER. CAPITAL ACCESS FUND THE CAPITAL ACCESS FUND (CAF) IS A STRATEGIC ALLIANCE OF CILF AND THE NATIONAL URBAN LEAGUE TO CREATE ACCESS TO CAPITAL FOR MINORITY COMMUNITIES WHO FACE THESE 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, CAF 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. FOR EXAMPLE, WAVERLY WILLIS WAS HOMELESS IN PART AS A RESULT OF THE GREAT RECESSION. STRUGGLING TO GET BACK ON HIS FEET, WAVERLY BEGAN CUTTING HAIR TO EARN A LIVING. HE STARTED WORKING WITH THE URBAN LEAGUE OF GREATER CLEVELAND WHO MENTORED HIM THROUGH THEIR ENTREPRENEURSHIP CENTER. HOWEVER, WAVERLY COULD NOT QUALIFY FOR BANK DEBT TO SUPPORT AND EXPAND HIS FLEDGLING BUSINESS. THROUGH THE CAPITAL ACCESS FUND, CILF STRUCTURED EXPANSION FINANCING THAT PERMITTED WAVERLY TO ACQUIRE THE NEARLY VACANT BUILDING HE RENTED IN A LOW-INCOME NEIGHBORHOOD, RENOVATE IT, AND EXPAND HIS BUSINESSES. TODAY, WAVERLY HAS SIX BARBER CHAIRS, PROVIDING EMPLOYMENT FOR OTHER LOW-INCOME COMMUNITY RESIDENTS, AND IS RENOVATING THE STOREFRONT NEXT TO HIM INTO A BEAUTY PARLOR. THE CAFGC A JOINT INITIATIVE OF NDC AND THE NATIONAL URBAN LEAGUE RECOGNIZES CILF AS ITS PRIMARY LENDING TOOL TO MAKE LOANS TO MINORITY ENTREPRENEURS. IN 2016, CILF HEDC'S NEWLY CERTIFIED CDFI, PROVIDED SIX LOANS TOTALING $150,500 TO SMALL MINORITY ENTREPRENEURS AS PART OF THE CAPITAL ACCESS FUND OF GREATER CLEVELAND (CAFGC).NDC COMMUNITY DEVELOPMENT LOAN FUND (NDC CILF) NDC CAPITAL ACCESS FUND IN 2016, ONE OF HEDC'S SUBORDINATE ENTITIES, NDC COMMUNITY DEVELOPMENT LOAN FUND (NDC CILF) BECAME A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION. NDC CILF'S PRIMARY MISSION FOLLOWS HEDC'S MISSION. NDC CILF'S SMALL BUSINESS LOANS ARE BEING MADE TO SMALL BUSINESSES THAT OTHERWISE LACK ACCESS TO CREDIT AND CAPITAL, AND THEY CREATE JOBS FOR LOW INCOME RESIDENTS OF COMMUNITY NEIGHBORHOODS. THESE BUSINESSES ALSO CREATE WEALTH IN THE COMMUNITY FOR THE BUSINESS OWNERS. MOST OF THE SMALL BUSINESS LOANS ARE MADE TO BUSINESSES WHO ARE NOT ELIGIBLE FOR SBA FINANCING DUE TO WEAKER CREDIT, LACK OF BUSINESS AND/OR CREDIT HISTORY, OR INABILITY TO MEET REGULATORY REQUIREMENTS. APPLICANTS WILL BE SMALL BUSINESS OWNERS OR INDIVIDUALS STARTING A SMALL BUSINESS. THE MAJORITY OF THE BUSINESSES WILL BE LOCATED IN LOW INCOME COMMUNITIES OR THE BUSINESSES WILL BE OWNED BY MINORITY INDIVIDUALS.NDC CILF'S COMMUNITY FACILITY LOANS ARE BEING MADE TO ORGANIZATIONS THAT PROVIDE SERVICES PRIMARILY TO LOW INCOME COMMUNITY RESIDENTS. THE TYPES OF FACILITIES THAT WILL BE FINANCED INCLUDE CHILD CARE FACILITIES, HEALTH CARE FACILITIES, SOCIAL SERVICE AGENCIES, YOUTH ORGANIZATIONS, LIKE BOYS AND GIRLS CLUBS AND OTHER ORGANIZATIONS THAT SERVE LOW INCOME AND SPECIAL NEEDS POPULATIONS. THE APPLICANTS WILL BE NON-PROFIT ORGANIZATIONS PROVIDING THE SOCIAL SERVICES OR DEVELOPERS PROVIDING THE FACILITIES FOR THESE NON-PROFIT ORGANIZATIONS.NDC CILF WILL ALSO MAKE LOANS TO ORGANIZATIONS DEVELOPING AFFORDABLE HOUSING. THE HOUSING WILL SERVE INDIVIDUALS AND FAMILIES AT 80% OF AREA MEDIAN INCOME OR LESS, EITHER THROUGH HOMEOWNERSHIP OR THROUGH DEVELOPMENT OR RENOVATION OF AFFORDABLE RENTAL HOUSING. THE APPLICANTS WILL BE AFFORDABLE HOUSING DEVELOPERS, BOTH NONPROFIT AND FOR PROFIT.NDC CILF WILL ALSO MAKE REAL ESTATE LOANS FOR PROJECTS BEING CONSTRUCTED OR RENOVATED IN LOW INCOME NEIGHBORHOODS. IN MANY OF THE COMMUNITIES WHERE NDC WORKS, DEVELOPERS ARE UNABLE TO FIND COMMERCIAL LOANS FOR DEVELOPMENTS IN REDEVELOPMENT AREAS AND OTHER LOW INCOME COMMUNITIES. IN THESE AREAS, DEVELOPMENT COSTS ARE HIGHER THAN APPRAISED VALUE AND COMMERCIAL LENDERS ARE UNABLE TO PROVIDE SUFFICIENT CAPITAL TO DEVELOPERS TO ALLOW DEVELOPMENT TO PROGRESS. IN THESE LOW INCOME NEIGHBORHOODS, NDC CILF WILL MAKE LOANS TO NON-PROFIT AND FOR-PROFIT DEVELOPERS OF REAL ESTATE PROJECTS, THAT WILL INCREASE COMMUNITY VIABILITY BY PROVIDING SPACE FOR NEEDED COMMERCIAL SERVICES INCLUDING GROCERY STORES, GENERAL MERCHANDISE STORES, RESTAURANTS, PHARMACIES AND ALL THE OTHER NECESSARY COMPONENTS NEEDED FOR STRONG NEIGHBORHOODS. 8223938 1 1 0 0 0 0 0 0 0 0 0 0 0 1 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 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 0 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X adam ennis 2126821106 one battery park plaza suite 710 new york NY 10004 Adam Ennis board Member/CFO 32.50 17.50 X X 0 148757 42811 Angela Butler board member 1.00 49.00 X 0 150892 35890 Ann Vogt Sec/Tres/board Member 32.45 22.55 X X 0 279959 37766 Daniel Marsh III Pres/board member 5.50 49.50 X X 0 245298 249449 David J Trevisani board member 25.00 25.00 X 0 167240 45834 Gertrude Scriven board member 1.00 49.00 X 0 148669 114728 Ingrid Nardoni board member 42.50 7.50 X 0 150070 46617 John Palyo board member 1.00 49.00 X 0 210777 49885 Kevin Gremse board member 1.00 49.00 X 0 199760 49022 Patricia Thomson board member 4.00 48.00 X 0 206401 101658 Robert W Davenport Chairman/board member 2.85 54.15 X X 0 1597292 338260 Stephanie Dugan board member 3.00 47.00 X 0 162057 46586 Thomas Jackson board member 1.00 49.00 X 0 166280 50616 0 3833452 1209122 0 0 1 0 Waterstone Capital Partners 32158 Camino Capistrano Suite A San Juan Capistrano CA 92675 Consulting 316500 Law Office of Mark D Foster 4835 LBJ Freeway Suite 424 DALLAS TX 75244 Legal and acquisition fees 305000 CohnReznick LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 Auditing & TAX SERVICES 196855 3 1710000 5000 1715000 managment fees econ dev projects 541610 8711376 8711376 8711376 84615 84615 recovery of bad debt 900099 106129 106129 new market tax credits 900099 72590 72590 OTHER REVENUE 900099 649 649 179368 10690359 8890744 0 84615 4108247 4108247 2464975 1927406 537569 166292 123002 43290 512266 378909 133357 114787 88653 26134 146857 146857 263774 263774 890456 808966 81490 106648 88682 17966 330021 278577 51444 353877 288962 64915 Bad debt expense 113897 113897 fees 110808 110808 Equipment lease and mai 17830 15051 2779 Subsciptions and member 3586 3586 9704321 8223938 1480383 0 5160107 3360774 48917 993617 3208880 7174537 274712 274712 10000 5174950 5627327 13877566 17430967 27477 53873 13711 49826 1706615 4211467 1747803 4315166 X 12129763 13115801 12129763 13115801 13877566 17430967 986038 0 X X 0 1 X 1 0 X 540587 300000 1320000 3381174 1715000 7256761 8097435 7393713 4159605 3278752 8711376 31640881 8638022 7693713 5479605 6659926 10426376 38897642 0 0 0 38897642 118541 58816 33980 37250 84615 333202 118541 58816 33980 37250 84615 333202 2382 40220 179368 221970 8756563 7752529 5515967 6737396 10690359 39452814 0.98590 0.98260 0.00840 0.01630 X Schedule A, Part III, Line 12, Explanation of Other Income: other revenue - 2014 Amount: $ 2,382. 2015 Amount: $ 2,970. 2016 Amount: $ 649. recovery of bad debt - 2015 Amount: $ 37,250. 2016 Amount: $ 106,129. NEW MARKET TAX CREDITS - 2016 Amount: $ 72,590. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 advances receivable from affiliates 5627327 5627327 payable to the national development council 2943291 advances payable 1268176 4211467 X 10690359 0 10690359 0 10690359 9704321 0 9704321 0 9704321 Part X, Line 2: The Organization is exempt from federal income taxes pursuant to Section 501(c)(3) of the Internal Revenue Code. The Organization is also exempt from state and local taxes. 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, 2016 and 2015. The Organization files Form 990, Return of Organization Exempt from Income Tax, with the Internal Revenue Service annually. At December 31, 2016, the Organization's Forms 990 for the years ended 2014 through 2016 remain open for examination by the IRS. 1 National Council for Community Development one battery park plaza suite 710 new york NY 10004 136532871 501(c)(3) 4050000 Support general operations TES PROPERTIES one battery park plaza suite 710 new york NY 10004 261159878 501(c)(3) 11500 Support general operations TSB PROPERTIES one battery park plaza suite 710 new york NY 10004 200741062 501(c)(3) 18000 Support general operations KINGSBOROUGH HOUSING DEVELOPMENT FUND CO INC one battery park plaza suite 710 new york NY 10004 141734500 501(c)(3) 25447 Support general operations 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. 0 1 0 0 0 0 0 0 0 Adam Ennis board Member/CFO 0 148541 0 0 0 216 0 7305 0 35506 0 191568 0 0 Angela Butler board member 0 150532 0 0 0 360 0 13450 0 22440 0 186782 0 0 Ann Vogt Sec/Tres/board Member 0 278375 0 0 0 1584 0 20415 0 17351 0 317725 0 0 Daniel Marsh III Pres/board member 0 242250 0 0 0 3048 0 214049 0 35400 0 494747 0 0 David J Trevisani board member 0 166208 0 0 0 1032 0 10808 0 35026 0 213074 0 0 Gertrude Scriven board member 0 145621 0 0 0 3048 0 97227 0 17501 0 263397 0 0 Ingrid Nardoni board member 0 148486 0 0 0 1584 0 12061 0 34556 0 196687 0 0 John Palyo board member 0 210417 0 0 0 360 0 13984 0 35901 0 260662 0 0 Kevin Gremse board member 0 199208 0 0 0 552 0 13996 0 35026 0 248782 0 0 Patricia Thomson board member 0 203353 0 0 0 3048 0 67065 0 34593 0 308059 0 0 Robert W Davenport Chairman/board member 0 470438 0 0 0 1126854 0 320565 0 17695 0 1935552 0 1125000 Stephanie Dugan board member 0 161025 0 0 0 1032 0 11873 0 34713 0 208643 0 0 Thomas Jackson board member 0 165248 0 0 0 1032 0 15464 0 35152 0 216896 0 0 Part I, Line 4b CERTAIN SENIOR MANAGEMENT OFFICIALS PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THERE WERE NO CONTRIBUTIONS DURING THE YEAR. During 2016 Robert Davenport received a distribution from a SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, this amount was included in his w-2 and reported on Schedule J, Part II, Column (iii). SCHEDULE J PART II, Column C: AMOUNTS IN COLUMN C INCLUDE THE ALLOCATED EXPENSE FOR THE DEFINED BENEFIT PLAN. form 990, Part III, LINE 1 CONTINUATION: c. to initiate and carry out activities to stimulate economic development in the economically depressed areas of the US. In particular, to undertake activities that: - relieve poverty and lessen neighborhood tension caused by a lack of jobs in deteriorated and depressed areas by providing training opportunities for the unemployed and creating job opportunities for disadvantaged groups. - combat community deterioration and eliminate blight by undertaking activities that stimulate the establishment of new businesses among disadvantaged groups and which rehabilitate and revive existing businesses operated by disadvantaged groups. Form 990, Part VI, Section A, line 2 ANN VOGT, Sec/Tres/board Member, & INGRID NARDONI, BOARD MEMBER, HAVE A FAMILY RELATIONSHIP. Form 990, Part VI, Section A, line 6 National council for community development IS THE SOLE VOTING MEMBER OF NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION. Form 990, Part VI, Section A, line 7a National council for community development as THE SOLE VOTING MEMBER OF NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION has the POWER TO ELECT AND REMOVE DIRECTORS. 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 THE HEDC BOARD OF DIRECTORS AND EXECUTIVE EMPLOYEES ARE REQUIRED TO ANNUALLY EXECUTE A CONFLICT OF INTEREST AND COMPENSATION GUIDELINES ACKNOWLEDGEMENT STATING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES. THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES DOCUMENT REQUIREs BOARD MEMBERS AND EXECUTIVE EMPLOYEES TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST IMMEDIATELY. THE CHAIRPERSON OF THE BOARD WILL UPON NOTIFICATION OF SUCH AN EVENT APPOINTS 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 CONFLICT OF INTEREST AND COMPENSATION GUIDELINES DOCUMENT ACKNOWLEDGES THAT THEY SHARE THE RESPONSIBILITY OF HEDC TO REMAIN FAITHFUL TO THE ORGANIZATION'S CHARITABLE PURPOSES. Form 990, Part VI, Section C, line 19 the documents are available by request. form 990, part xii, line 2c the process has not changes from the prior year. form 990, Part IX, Lines 7-10: THE AMOUNTS REPORTED ON LINES 7-9 RELATED TO EXPENSES PAID BY THE PARENT COMPANY (NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT EIN 13-6532871) AND ALLOCATED TO THE ORGANIZATION. Part VI, 1B: ALL OF THE ORGANIZATION'S BOARD MEMBERS WORK FOR THE PARENT ORGANIZATION NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT. WHILE NONE ARE INDEPENDENT THE INDEPENDENT BOARD OF DIRECTORS OF THE PARENT OVERSEES THE ORGANiZATION'S OPERATIONS AND ACTIONS. NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION-GROUP RETURN one battery park plaza suite 710 New york NY 10004 911884698 Assist Gov/Housing VA 501(c)(3) Line 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 0 GROW AMERICA FUND INC one battery park plaza suite 710 New york NY 10004 133641265 loans at below-market rates for economic development DE 501(c)(3) Line 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 0 NDC SUPPORT I INC one battery park plaza suite 710 New york NY 10004 134156877 Assist Gov/Housing NY 501(c)(3) Line 12a, I NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 0 KINGSBOROUGH HOUSING DEVELOPMENT FUND COMPANY INC one battery park plaza suite 710 New york NY 10004 141734500 Housing NY 501(c)(3) Line 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 0 Yonkers Larkin Garage Inc one battery park plaza suite 710 New york NY 10004 800730609 Assist Gov NY 501(c)(3) Line 10 NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 0 National Council For Community Development one battery park plaza suite 710 New york NY 10004 136532871 Assist Gov/Housing NY 501(c)(3) Line 10 N/A 0 NDC RESOURCES one battery park plaza suite 710 new york NY 10004 460674188 Econ Dev/Housing/Assist Gov't DC 501(c)(3) Line 12a, I NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC 0 NDC CORPORATE EQUITY FUND III one battery park plaza suite 710 new york NY 10004 134071776 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -732 302188 0 1 0.00010 NDC CORPORATE EQUITY FUND IV one battery park plaza suite 710 new york NY 10004 134151268 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -52 -81119 0 1 0.00010 NDC CORPORATE EQUITY FUND V one battery park plaza suite 710 new york NY 10004 134195127 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -286 44201 0 1 0.00010 NDC CORPORATE EQUITY FUND VI one battery park plaza suite 710 new york NY 10004 050585420 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -476 24756 0 1 0.00010 NDC CORPORATE EQUITY FUND VII one battery park plaza suite 710 new york NY 10004 203273264 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -515 169268 0 1 0.00010 NDC CORPORATE EQUITY FUND VIII one battery park plaza suite 710 new york NY 10004 261481355 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -191 518734 0 1 0.00010 NDC CORPORATE EQUITY FUND IX one battery park plaza suite 710 new york NY 10004 264226439 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -361 5149802 0 1 0.00010 NDC CORPORATE EQUITY FUND X one battery park plaza suite 710 new york NY 10004 454281155 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -183 6230648 0 1 0.00010 NDC CORPORATE EQUITY FUND XI one battery park plaza suite 710 new york NY 10004 462764258 Low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION Development -431 8148833 0 1 0.00010 NDC CORPORATE EQUITY FUND XII one battery park plaza suite 710 new york NY 10004 473762588 low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION development -40 25575628 0 1 0.00010 NDC CORPORATE EQUITY FUND XIII one battery park plaza suite 710 new york NY 10004 813113490 low income housing NY NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION development -6 40591591 0 1 0.00010 Community Development Group Holt One Battery Park PLaza Suite 710 New York NY 10004 201643188 economic development NY N/A C 0 Community Development Group Illinois Inc One Battery Park PLaza Suite 710 New York NY 10004 201644052 economic development NY N/A C 0 Community Development Group Kentucky Inc One Battery Park PLaza Suite 710 New York NY 10004 133555220 economic development NY N/A C 0 Community Development Group Renewable Energy One Battery Park PLaza Suite 710 New York NY 10004 262989445 economic development NY N/A C 0 Community Development Group Walla Walla Inc One Battery Park PLaza Suite 710 New York NY 10004 133615889 economic development NY N/A C 0 Community Development Investor Brooklyn One Battery Park PLaza Suite 710 New York NY 10004 461534076 economic development NY N/A C 0 Community Development Group III INC One Battery Park PLaza Suite 710 New York NY 10004 203673695 economic development NY N/A C 0 NDC Green Renewable Energy Enterprise Nexus One Battery Park Plaza Suite 710 new York NY 10004 273820841 economic development NY N/A C 0 0 1 1 1 1 0 0 0 0 0 1 0 1 1 1 1 1 1 1 CDI Brooklyn Inc D 197831 Cost NDC Corporate Equity Fund II LP K 83478 Cost NDC Corporate Equity Fund IV LP K 480396 Cost NDC Corporate Equity Fund V LP K 65324 Cost NDC Corporate Equity Fund VI LP K 78712 Cost NDC Corporate Equity Fund VII LP K 109980 Cost NDC Corporate Equity Fund X LP K 236722 Cost NDC Corporate Equity Fund XI LP K 265052 Cost NDC Corporate Equity Fund XII LP K 3241481 Cost NDC Corporate Equity Fund XIII LP K 2245824 Cost