2016-11-01T07:54:32-05:00 2015-12-31 133923842 MBAF CPAS LLC 400 COLUMBUS AVE S LOBBY 2ND FL VALHALLA NY 10595 990 2015-01-01 133154100 LEVITICUS 2523 ALTERNATIVE FUND INC LEVI 9149094498 220 WHITE PLAINS ROAD NO 125 TARRYTOWN NY 10591 GREGORY MAHER EXECUTIVE DIRECTOR 9149094498 2016-10-28 1 MARC TAUB CPA P00236664 9147410800 2015 2017-02-10 21:41:12Z X GREGORY MAHER 220 WHITE PLAINS ROAD NO 125 TARRYTOWN NY 10591 4651068 0 X WWW.LEVITICUSFUND.ORG X 1983 NY PROVIDE LOANS TO ORGANIZATIONS FOR THE BENEFIT OF ECONOMICALLY DISADVANTAGED INDIVIDUALS, FAMILIES AND COMMUNITIES. 14 14 5 21 0 0 1383921 3314603 1001905 1255777 32536 30520 45572 50168 2463934 4651068 0 504326 0 0 485212 444987 0 0 22235 733165 956163 1218377 1905476 1245557 2745592 25896978 30196006 20200743 21754179 5696235 8441827 X THE LEVITICUS 25:23 ALTERNATIVE FUND, INC. IS A NOT-FOR-PROFIT FINANCIAL INTERMEDIARY MOTIVATED BY FAITH THAT OFFERS INVESTORS A SOCIALLY-RESPONSIVE MEANS TO SERVE LOW-INCOME NEIGHBORHOODS. THE FUND PROVIDES FLEXIBLE CAPITAL AND FINANCIAL SERVICES FOR THE DEVELOPMENT OF AFFORDABLE HOUSING AND COMMUNITY FACILITIES, INCLUDING CHILD CARE AND EARLY LEARNING CENTERS, THROUGHOUT NEW YORK, NEW JERSEY AND CONNECTICUT. 0 0 1778556 504326 1305945 LEVITICUS' FLEXIBLE CAPITAL SUPPORTS COMMUNITY DEVELOPMENT PROJECTS SERVING LOW-INCOME, AT-RISK INDIVIDUALS AND FAMILIES. IN 2015, LENDING ACTIVITIES INCLUDED THE FOLLOWING CLOSED LOANS: 10 LOANS TOTALING $4,811,181 WHICH PARTIALLY FINANCED 252 UNITS OF AFFORDABLE AND SUPPORTIVE HOUSING; 1 LOAN TOTALING $225,000 WHICH PARTIALLY FINANCED START-UP COSTS FOR A NEW CHARTER PUBLIC SCHOOL SERVING 346 CHILDREN FROM PREDOMINANTLY LOW-INCOME FAMILIES; AND 1 LOAN TOTALING $250,000 THAT PARTIALLY FINANCED FACADE RESTORATION TO A DETERIORATED HISTORIC BUILDING AND IMPROVED PUBLIC GREEN SPACE. 1778556 1 1 0 0 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 0 0 0 0 1 5 0 1 5 1 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X GREGORY MAHER 9149094498 220 WHITE PLAINS ROAD SUITE 125 TARRYTOWN NY 10591 MR CHARLES JOHNSTON BOARD MEMBER 0.50 X 0 0 0 MS LINDA HINCKEN TREASURER THROUGH JUNE 2015 0.50 X X 0 0 0 SR GERALDINE KENNEDY SECRETARY 0.50 X X 0 0 0 MR SALVATORE DEL BENE BOARD MEMBER 0.50 X 0 0 0 MR DERRICK A LOVETT PRESIDENT THRU JUN '15; BOARD MEMBER 0.50 X X 0 0 0 MR JOSEPH REILLY BOARD MEMBER 0.50 X 0 0 0 MS CATHERINE ROWAN PRESIDENT SINCE JUNE 2015 0.50 X X 0 0 0 MR RICHARD O'BRIEN BOARD MEMBER 0.50 X 0 0 0 MR JUSTIN TOWEY TREASURER SINCE JUNE 2015 0.50 X X 0 0 0 MR MICHAEL SENA VICE PRESIDENT SINCE JUNE 2015 0.50 X X 0 0 0 REV JULIUS WALLS BOARD MEMBER 0.50 X 0 0 0 SR PEGGY SCARANO BOARD MEMBER 0.50 X 0 0 0 MR DAN LETENDRE BOARD MEMBER 0.50 X 0 0 0 SR ELLENRITA PURCARO BOARD MEMBER 0.50 X 0 0 0 MS DARLENE ROBINSON BOARD MEMBER 0.50 X 0 0 0 MR GREGORY MAHER EXECUTIVE DIRECTOR 40.00 X 177858 0 48837 177858 0 48837 1 0 1 0 0 2500000 814603 3314603 INTEREST PROJECT LOANS 900099 1252094 1252094 NMTC FEES 900099 3683 3683 1255777 30520 30520 COMMITMENT/CLOSING FEE 900099 50168 50168 50168 4651068 1305945 0 30520 504326 504326 226695 194958 22669 9068 164684 141628 16468 6588 25981 22345 2598 1038 5379 4217 129 1033 22248 19133 2225 890 2569 2307 262 29750 29750 40321 35596 4725 13214 13214 28170 23121 4074 975 48701 41883 4870 1948 13904 13209 695 10178 5870 4308 526877 526877 6471 6471 1280 1152 128 PROVISION FOR LOAN LOSS 122110 122110 STIPENDS 103981 91502 12479 DUES AND SUBSCRIPTIONS 8637 8637 1905476 1778556 104685 22235 1408218 1495173 2167769 2509560 460844 2535505 4750 20222043 22235241 389 78757 69050 9066 9707 1500225 1226335 1499 128813 177847 25896978 30196006 45551 21087 11970 17966 20028817 21493000 114405 222126 20200743 21754179 X 4911850 7620298 784385 821529 5696235 8441827 25896978 30196006 2745592 0 X X 0 1 X 1 1 1 X 189943 596598 103544 1383921 3314603 5588609 683280 790066 834755 1047477 1305945 4661523 873223 1386664 938299 2431398 4620548 10250132 0 0 0 10250132 59393 41067 49355 32536 30520 212871 59393 41067 49355 32536 30520 212871 932616 1427731 987654 2463934 4651068 10463003 0.97970 0.96330 0.02030 0.03670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 56615 48741 7874 22142 20309 1833 9707 INTEREST PAYABLE 117051 DEFERRED RENT 526 COLLATERAL ON PROJECT NOTE RECEIVABLE 104549 222126 X 4651068 0 4651068 0 4651068 1905476 0 1905476 0 1905476 PART X, LINE 2: THE ORGANIZATION IS ORGANIZED UNDER THE NOT-FOR-PROFIT CORPORATION LAW OF THE STATE OF NEW YORK. THE ORGANIZATION HAS BEEN GRANTED EXEMPTION FROM FEDERAL INCOME TAXATION PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ACCOUNTING STANDARD FOR UNCERTAINTY IN INCOME TAXES PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. THE ORGANIZATION MAY BE SUBJECT TO AUDIT BY TAX AUTHORITIES. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS TAX RETURNS. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED FOR EACH YEAR. MANAGEMENT BELIEVES THAT ITS TAX-EXEMPT STATUS WOULD BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION FILES INFORMATIONAL RETURNS IN THE FEDERAL JURISDICTION. THE ORGANIZATION IS GENERALLY NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE INTERNAL REVENUE SERVICE FOR RETURNS FILED BEFORE 2012. 1 NORTH HAVEN SUSTAINABLE HOUSING PO BOX 373 NORTH HAVEN ME 04853 203828493 501(C)(3) 500000 TO PROVIDE FINANCING FOR AFFORDABLE ELDERCARE PROJECTS IN THE NEW ENGLAND REGION THAT ASSIST LOW-INCOME SENIOR HOUSEHOLDS. 1 PART I, LINE 2: LEVITICUS GENERALLY DOES NOT PROVIDE GRANTS. HOWEVER, DURING 2015 IT ORIGINATED A FORGIVABLE LOAN TO AN ORGANIZATION AND REQUIRED THAT EACH YEAR, OVER THE TEN YEAR LOAN TERM, THE ORGANIZATION PROVIDES LEVITICUS WITH A BRIEF ANNUAL NARRATIVE REPORT ON THE STATUS OF THE PROJECT DETAILING HOW MANY RESIDENTS WERE QUALIFYING FOR MAINECARE AND ANY ISSUES IN THE OCCUPANCY OR OPERATIONS OF THE PROJECT THAT MIGHT ADVERSELY IMPACT THE AGREED UPON PURPOSE OF THE PROJECT. X X 0 0 0 0 0 0 0 0 0 MR GREGORY MAHER EXECUTIVE DIRECTOR 177858 0 0 0 0 0 27024 0 21813 0 226695 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS ELECT THE ORGANIZATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE ORGANIZATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY AT THE FIRST BOARD MEETING OF THE YEAR, ALL BOARD MEMBERS COMPLETE, SIGN AND SUBMIT A CONFLICT OF INTEREST STATEMENT. THE STATEMENT OUTLINES THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND REQUIRES BOARD MEMBERS TO STATE IN WRITING ALL KNOWN CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PERIODICALLY REVIEWS SALARIES FOR ALL OFFICER AND KEY EMPLOYEE POSITIONS, INCLUDING THE EXECUTIVE DIRECTOR POSITION. SALARIES ARE COMPARED TO COMPARABLE POSITIONS IN OTHER CHARITABLE ORGANIZATIONS, INCLUDING THOSE IN THE ORGANIZATION'S SECTOR, USING DATA FROM SALARY REVIEWS CONDUCTED BY THIRD PARTY ORGANIZATIONS. THE COMPARATIVE FINDINGS ARE PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS FOR DISCUSSION AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990'S ARE AVAILABLE ON GUIDESTAR.ORG. THE ORGANIZATION'S FORM 1023, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.