2025-11-17T16:40:45-06:00 2024-12-31 331498605 PLANTE & MORAN PLLC 8181 E TUFTS AVE SUITE 600 DENVER CO 80237 990PF 2024-01-01 383126310 CINNAIRE CORPORATION CINN 5174828555 1118 S WASHINGTON AVENUE LANSING MI 48910 BRETT OUMDEIAN CFO 5174828555 2025-11-17 1 1 DORI J EGGETT P00645252 3037409400 2025-11-17 2024 2025-03-06 01:10:19Z X X 72188344 X 1000000 895914 895914 895914 29290 2728617 29290 29290 23039762 414997 23039762 24964966 1340201 23964966 5670724 313097 5357627 0 7829144 391464 7789998 0 2828007 141400 2686607 0 49297 0 49297 0 125345 6267 119078 0 1991714 72038 1919676 0 225889 0 225889 0 53662 0 18912 0 51469 0 51469 559755 27988 531767 0 734482 0 734482 0 3827429 0 3827429 0 23946917 952254 23312231 0 177135 177135 24124052 952254 23312231 177135 840914 387947 652735 13297884 7092188 7092188 34988363 10994081 24817804 23994282 23994282 357038 402819 402819 7457668 7477708 7477708 667280 767271 767271 7379869 7505380 7505380 206977 349497 349497 2741930 868675 653039 1873255 1873255 18565183 22725944 22725944 73402742 72188344 72188344 5993014 6009984 1866856 139809 991859 518390 926309 986913 9778038 7655096 X 0 0 0 0 63624704 64533248 63624704 64533248 73402742 72188344 63624704 840914 67630 64533248 0 64533248 PUBLICLY TRADED SECURITIES P 2712123 2699327 12796 12796 SALE OF REAL ESTATE PORTFOLIO P 16494 16494 16494 29290 29290 5392 0 5392 0 5392 14920 0 0 0 14920 143 9385 9385 0 0 0 0 0 0 0 0 0 0 0 1 1 MI IN 1 1 0 0 0 1 WWW.CINNAIRE.COM BRETT OUMEDIAN 5174828555 1118 S WASHINGTON AVENUE LANSING MI 489331062 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MARK MCDANIEL 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF EXECUTIVE OFFICER 40.00 950737 45576 0 KEVIN CRAWLEY 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF OPERATING OFFICER 40.00 606427 45576 0 DEBORAH TOBY 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF HUMAN RESOURCE OFFICER 40.00 578140 45576 0 BRETT OUMEDIAN 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF FINANCIAL OFFICER 40.00 591212 45576 0 LUCIUS VASSAR 1118 S WASHINGTON AVENUE LANSING MI 48910 CHIEF LEGAL OFFICER 40.00 469171 45576 0 SUSAN FRANK 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 378854 45576 0 JENNIFER EVERHART 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 435326 45576 0 RYAN ROBINSON 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 406991 45576 0 KATHERINE FORTH 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 350104 45576 0 DONSIA STRONG HILL 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 280965 42374 0 CHRISTOPHER LAURENT 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 299936 39650 0 SARAH GREENBERG 1118 S WASHINGTON AVENUE LANSING MI 48910 EXECUTIVE VICE PRESIDENT 40.00 322861 42252 0 WENDELL JOHNS 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 MICHAEL J TAYLOR 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 CHRISTINE R HOBBS 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 QUINETTA ROBERSON CONNALLY 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 AMANDULA ANDERSON 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 PAUL J WEAVER 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 FRED GREENE 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 DONALD F TUCKER 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 DERRICK COLLINS 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 SARIDA SCOTT 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 BRETT MACLEOD 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 TAMARA DUDUKOVICH 1118 S WASHINGTON AVENUE LANSING MI 48910 DIRECTOR 1.00 0 0 0 BENJAMIN STEHOUWER 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 427943 44506 0 MATTHEW HODGES 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 384913 45576 0 JOSHUA GHENA 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 374144 41913 0 PAMELA HETZ 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 294943 41658 0 SABRINA IGA 1118 S WASHINGTON AVENUE LANSING MI 48910 SENIOR VP 40.00 289431 42125 0 156 SMALL BUSINESS ASSOCIATION OF MICHIGAN 660 CASCADE WEST PARKWAY SE GRAND RAPIDS MI 49546 HEALTH INSURANCE 1909456 KUTAK ROCK LLP PO BOX 30057 OMAHA NE 68103 LEGAL 586417 CLARK HILL PLC PO BOX 3760 PITTSBURGH PA 15230 LEGAL 547667 GREATER MINNESOTA HOUSING FUND 332 MINNESOTA STREET STE 1650 ST PAUL MN 55101 CONSULTING 445385 PLANTE & MORAN PLLC 16060 COLLECTIONS CENTER DRIVE CHICAGO IL 60606 AUDIT, TAX, CONSULTING 410129 27 CINNAIRE PROVIDES EQUITY CAPITAL AND FLEXIBLE LOANS TO EXPAND AND PRESERVE AFFORDABLE HOUSING IN UNDERSERVED COMMUNITIES. THESE INVESTMENTS REVITALIZE NEIGHBORHOODS, EMPOWER INDIVIDUALS AND CREATE ECONOMIC OPPORTUNITIES. 23312231 LOANS TO ORGANIZATIONS TO ALLOW THEM TO DEVELOP AFFORDABLE HOUSING FOR LOW INCOME RESIDENTS 2624885 PARTNERSHIP INTERESTS IN LOW-INCOME HOUSING TAX CREDIT FUNDS HELD TO ADVANCE AFFORDABLE HOUSING FOR LOW-INCOME RESIDENTS 1472761 4097646 16405143 6502007 0 22907150 0 0 22907150 343607 22563543 1128177 X 177135 4097646 4274781 X 652735 1505931 1292672 429779 3881117 554825 1280041 1098771 365312 3298949 4274781 9211619 568306 4152971 18207677 177135 139417 568306 411327 1296185 4097646 9072202 0 3741644 16911492 0 0 752118 1003954 861781 713896 3331749 0 0 0 0 X ANDY'S ANGELS 3522 SCHEELE DR JACKSON MI 49202 PC GENERAL SUPPORT 500 CASA FOR KIDS INC 3303 W SAGINAW ST STE B2 LANSING MI 48917 PC GENERAL SUPPORT 2533 CHILDREN TRUST MICHIGAN 235 S GRAND AVE STE 1411 LANSING MI 48933 PC GENERAL SUPPORT 21267 CHOSEN VISION 13279 AUDREY LN GRAND LEDGE MI 48837 PC GENERAL SUPPORT 542 GREATER INDY HABITAT FOR HUMANITY 3135 N MERIDIAN ST INDIANAPOLIS IN 46208 PC GENERAL SUPPORT 528 GREATER LANSING AREA HOLIDAY COMMISSION PO BOX 24112 LANSING MI 48909 PC GENERAL SUPPORT 50000 HABITAT FOR HUMANITY CAPITAL REGION 1941 BENJAMIN DR LANSING MI 48906 PC GENERAL SUPPORT 7206 HAVEN HOUSE 121 WHITEHILLS DR EAST LANSING MI 48823 PC GENERAL SUPPORT 5000 HDC MIDATLANTIC 8 WEST KING ST STE 821 LANCASTER PA 17603 PC GENERAL SUPPORT 1000 HOPE NETWORK 3075 ORCHARD VISTA DR SE GRAND RAPIDS MI 49546 PC GENERAL SUPPORT 141 HOWARD UNIVERSITY MIDDLE SCHOOL OF MATHEMATICS & SCIENCE 405 HOWARD PLACE NW WASHINGTON DC 20059 PC GENERAL SUPPORT 300 KARUNA INC 703 FARNAM ST STE 207 LA CROSSE WI 54601 PC GENERAL SUPPORT 7206 MEMORIAL COMMUNITY DEVELOPMENT CORPORATION 645 CONNIE ROBINSON WY EVANSVILLE IN 47713 PC GENERAL SUPPORT 500 MICHIGAN ASSOCIATION OF UNITED WAYS 330 MARSHALL STREET STE 211 LANSING MI 48912 PC GENERAL SUPPORT 50000 NERDIT FOUNDATION 100 W 10TH ST STE 502 WILMINGTON DE 19801 PC GENERAL SUPPORT 7206 PROJECT FOR PRIDE IN LIVING 1035 E FRANKLIN AVE MINNEAPOLIS MN 55404 PC GENERAL SUPPORT 1000 STRIKEOUT BASEBALL USA 1115 CANDELA GRAND LEDGE MI 48837 PC GENERAL SUPPORT 5000 TRINITY HAVEN INC 3561 N PENNSYLVANIA ST INDIANAPOLIS IN 46205 PC GENERAL SUPPORT 7206 VOLUNTEERS OF AMERICA OHIO & INDIANA 4181 E 96TH ST INDIANAPOLIS IN 46240 PC GENERAL SUPPORT 10000 177135 0 ACQUISITION FEES 14638740 NEW MARKET TAX CREDIT FEES 269899 DEVELOPMENT AND INVESTOR FEES 6315715 CONSULTING AND UNDERWRITING 46061 INTEREST INCOME-LOANS 414997 MISCELLANEOUS 424220 DISPOSITION FEES 426237 FUND DISSOLUTION FEES 479393 LOAN LOSS ADJUSTMENT 0 BRIDGE LOAN ADMIN FEE 24500 14 895914 18 29290 0 925204 23039762 23964966 1A CINNAIRE CORPORATION IS A NONPROFIT LOW-INCOME HOUSING TAX CREDIT (LIHTC) SYNDICATOR THAT RAISES AND MANAGES EQUITY CAPITAL FROM INSTITUTIONAL INVESTORS TO SUPPORT THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE RENTAL HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES. THE ORGANIZATION PROVIDES FINANCIAL STRUCTURING, UNDERWRITING, AND LONG- TERM ASSET MANAGEMENT TO ENSURE EACH INVESTMENT DELIVERS LASTING COMMUNITY IMPACT AND PROGRAM COMPLIANCE. ALL ACTIVITIES ARE CONDUCTED EXCLUSIVELY IN FURTHERANCE OF CINNAIRE'S CHARITABLE PURPOSE TO CREATE ECONOMIC OPPORTUNITIES AND PROMOTE SAFE, STABLE, AFFORDABLE HOMES THROUGH AFFORDABLE HOUSING INVESTMENT. 0 0 0 0 0 0 0 0 0 0 X X 1 PROPERTY STABILIZATION INC 1118 S WASHINGTON AVE LANSING MI 48910 1000000 X ACCOUNTING & AUDIT 125345 6267 119078 0 PACCAR FINL CORP 165635 165635 REALTY INCOME CORP 198610 198610 PEPSIC INC 169257 169257 CONSUMERS ENERGY CO 194394 194394 APPLE INC 175924 175924 BP CAP MKTS AMER INC 165836 165836 UNITEDHEALT GRP INC 196360 196360 AMERICAN HONDA FIN CORP 173217 173217 TOTA CAP INTL 170535 170535 UNITED PARCEL SVC INC 167098 167098 TARGET CORP 167939 167939 HOME DEPOT INC 170642 170642 DUKE ENERGY FL LLC 173140 173140 S&P GLBL INC 172439 172439 AIR PRODS & CHEMS INC 170152 170152 META PLATFORMS 200727 200727 NEXTERA ENERGY CAP HLDGS 202356 202356 LOCKHEED MARTIN CORP 172317 172317 PRINCIPA FINL GRP INC 202525 202525 BHP BILLITON FIN USA LTD 169647 169647 PHILI MORRIS INTL INC 204705 204705 COMCAST CORP NEW 171505 171505 TJ COS INC NEW 170985 170985 PB NVIDIA CORP 173367 173367 BARCLAY PLC 179858 179858 PFIZER INC 170522 170522 THERMO FISHER SCIENTIFIC 170626 170626 KIMBERLY CLARK CORP 172119 172119 SIMON PPTY GRP LP 175155 175155 PROGRESSIV CORP 165175 165175 AMERIPRISE FINL INC 161492 161492 DEUTSCH BANK 170595 170595 JOHN DEERE CAP CORP 161109 161109 CONOCOPHILLIPS 159738 159738 MARS & MCLENNAN COS INC 161351 161351 CITIGRO INC 205107 205107 TOYOTA MOTOR CREDIT CORP 162538 162538 COMWLTH EDISON CO 162542 162542 AVALONBAY CMNTYS INC 161560 161560 HONEYWEL INTL INC 162161 162161 QUALCOMM INC 162966 162966 AMERICAN EXPR CO 165881 165881 WASTE MANAGEMENT INC 175573 175573 AIR PRODUCTS & CHEMICALS INC 8121 8121 ALPHABET INC CL A 13062 13062 AMERICAN INTL GROUP INC 4514 4514 AMERICAN TOWER CORP NEW 9721 9721 APOLLO GLOBAL MANAGEMENT INC 15030 15030 APPLE INC 14524 14524 ASTRAZENECA PLC SPONSORED ADR 8124 8124 AVALONBAY COMMNTYS INC 11658 11658 BECTON DICKINSON & CO 19284 19284 BROADCOM INC 23184 23184 CAPITAL ONE FINANCIAL CORP 13374 13374 COCA-COLA COMPANY 11643 11643 COMCAST CORP CL A 16701 16701 DIAGEO PLC SPON ADR 9408 9408 DTE ENERGY CO 6158 6158 EDISON INTL 5988 5988 ENBRIDGE INC 19560 19560 EQT CORP 7700 7700 EXXON MOBIL CORP 19040 19040 FREEPORT MCMORAN INC 6207 6207 GENERAL MOTORS CO 3942 3942 GILEAD SCIENCES INC 5173 5173 HALEON PLC ADR 10055 10055 HOME DEPOT INC 9336 9336 JOHNSON & JOHNSON 7665 7665 JPMORGAN CHASE & CO 21334 21334 LINDE PLC 14235 14235 MERCK & COMPANY INC 10445 10445 META PLATFORMS INC CL A 8197 8197 METLIFE INC 12528 12528 MICROSOFT CORP 24026 24026 NESTLE S A SPON ADR REPSTG REG SHS 17647 17647 NORTHROP GRUMMAN CORP 10324 10324 ORACLE CORP 12331 12331 PNC FINANCIAL SERVICES GROUP INC 8100 8100 PPG INDUSTRIES INC 5495 5495 PROCTER & GAMBLE CO 9388 9388 PUBLIC STORAGE INC 5989 5989 RTX CORP 11341 11341 SAP SE SPON ADR 9356 9356 SEMPRA 21579 21579 T- MOBILE US INC 16996 16996 TEXAS INSTRUMENTS INC 6000 6000 TRAVELERS COS INC 16140 16140 UNILEVER PLC SPON ADR 7541 7541 UNION PACIFIC CORP 12542 12542 UNITEDHEALTH GROUP INC 8600 8600 VISA INC CL A 15170 15170 VULCAN MATERIALS COMPANY 13633 13633 WALT DISNEY CO 5345 5345 WASTE MANAGEMENT INC DEL 9686 9686 WILLIAMS COS INC DEL 19483 19483 AIR PRODUCTS & CHEMICALS INC 2030 2030 ALPHABET INC CL A 3218 3218 AMERICAN INTL GROUP INC 1165 1165 AMERICAN TOWER CORP NEW 2384 2384 APOLLO GLOBAL MANAGEMENT INC 3799 3799 APPLE INC 3756 3756 ASTRAZENECA PLC SPONSORED ADR 2031 2031 AVALONBAY COMMNTYS INC 2860 2860 BECTON DICKINSON & CO 4764 4764 BROADCOM INC 5796 5796 CAPITAL ONE FINANCIAL CORP 3388 3388 COCA-COLA COMPANY 2926 2926 COMCAST CORP CL A 4203 4203 DIAGEO PLC SPON ADR 2415 2415 DTE ENERGY CO 1570 1570 EDISON INTL 1517 1517 ENBRIDGE INC 4922 4922 EQT CORP 1937 1937 EXXON MOBIL CORP 4841 4841 FREEPORT MCMORAN INC 1561 1561 GENERAL MOTORS CO 1012 1012 GILEAD SCIENCES INC 1293 1293 HALEON PLC ADR 2538 2538 HOME DEPOT INC 2334 2334 JOHNSON & JOHNSON 1880 1880 JPMORGAN CHASE & CO 5274 5274 LINDE PLC 3768 3768 MERCK & COMPANY INC 2885 2885 META PLATFORMS INC CL A 2342 2342 METLIFE INC 3193 3193 MICROSOFT CORP 5901 5901 NESTLE S A SPON ADR REPSTG REG SHS 4412 4412 NORTHROP GRUMMAN CORP 2816 2816 ORACLE CORP 3166 3166 PNC FINANCIAL SERVICES GROUP INC 1929 1929 PPG INDUSTRIES INC 1433 1433 PROCTER & GAMBLE CO 2347 2347 PUBLIC STORAGE INC 1497 1497 RTX CORP 2893 2893 SAP SE SPON ADR 2462 2462 SEMPRA 5439 5439 T- MOBILE US INC 4194 4194 TEXAS INSTRUMENTS INC 1500 1500 TRAVELERS COS INC 4095 4095 UNILEVER PLC SPON ADR 1928 1928 UNION PACIFIC CORP 3193 3193 UNITEDHEALTH GROUP INC 2023 2023 VISA INC CL A 3792 3792 VULCAN MATERIALS COMPANY 3344 3344 WALT DISNEY CO 1336 1336 WASTE MANAGEMENT INC DEL 2421 2421 WILLIAMS COS INC DEL 4925 4925 2520750 2520750 4956958 4956958 LAG ADJUSTMENT - JANNEY INVESTMENTS FMV 349497 349497 COMPUTER EQUIPMENT 443009 371990 71019 71019 OFFICE EQUIPMENT 0 0 FURNITURE & FIXTURES 413310 364088 49222 49222 LEASEHOLD IMPROVEMENTS 131289 71682 59607 59607 LAND IMPROVEMENTS 14540 4665 9875 9875 LOAN FEES 60000 56250 3750 3750 CAPITALIZED INVESTMENT COSTS 1679782 0 1679782 1679782 LEGAL FEES 49297 0 49297 0 SECURITY DEPOSITS 21780 21780 21780 INVESTMENT IN AFFILIATES 9115002 10587763 10587763 INTEREST RECEIVABLE 51432 149845 149845 PROGRAM-RELATED LOANS 8460358 10986830 10986830 OPERATING LEASE RIGHT OF USE ASSET 916611 979726 979726 INSURANCE 228868 0 228868 0 OFFERING & ORG ALLOWANCE 348129 0 348129 0 OFFICE EXPENSES 1193055 0 1193055 0 MARKETING/SPONSORSHIPS 987349 0 987349 0 ISF PROVISION 755881 0 755881 0 MEALS 131720 0 131720 0 GRANT EXPENSE 36000 0 36000 0 BAD DEBT EXPENSE 105931 0 105931 0 CHARITABLE EXPENSES 13985 0 13985 0 LOAN LOSS ADJUSTMENT 26511 0 26511 0 ACQUISITION FEES 14638740 14638740 NEW MARKET TAX CREDIT FEES 269899 269899 DEVELOPMENT AND INVESTOR FEES 6315715 6315715 CONSULTING AND UNDERWRITING 46061 46061 INTEREST INCOME-LOANS 414997 414997 414997 MISCELLANEOUS 424220 424220 DISPOSITION FEES 426237 426237 FUND DISSOLUTION FEES 479393 479393 BRIDGE LOAN ADMIN FEE 24500 24500 UNREALIZED GAIN ON INVESTMENTS 47437 OTHER ADJUSTMENT 20193 OPERATING LEASE LIABILITY` 926309 986913 CONSULTING 1919676 0 1919676 0 INVESTMENT MANAGEMENT EXPENSES - JANNEY 72038 72038 0 0 INCOME TAX EXPENSE 34750 0 0 0 PERSONAL PROPERTY TAX 18912 0 18912 0