2025-02-24T17:54:41-06:00 2024-06-30 930900579 MCDONALD JACOBS PC 121 SW SALMON ST STE 1100 PORTLAND OR 97204 990 2023-07-01 931037330 NETWORK FOR OREGON AFFORDABLE HOUSING NETW 5032233211 1750 S HARBOR WAY 245 PORTLAND OR 972015167 WILLIAM A VAN VLIET EXECUTIVE DIRECTOR 5032233211 2025-02-24 1 0 SANG AHN P00540880 5032270581 2023 2025-03-06 01:10:19Z WILLIAM A VAN VLIET 1750 S HARBOR WAY 245 PORTLAND OR 972015167 10856730 0 X WWW.NOAH-HOUSING.ORG X 1990 OR NOAH STRENGTHENS COMMUNITIES THROUGH FLEXIBLE FINANCING, STRATEGIC PARTNERSHIPS, AND CREATIVE SOLUTIONS THAT BUILD AND PRESERVE AFFORDABLE HOUSING IN OREGON. 12 12 18 23 0 0 945527 3171000 6967951 7258160 156654 426089 0 0 8070132 10855249 0 2275000 0 0 1942212 2171256 0 0 11407 5811815 5565294 7754027 10011550 316105 843699 219824620 246199442 196026977 221558100 23797643 24641342 X NOAH IS A CERTIFIED NONPROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) THAT WAS ESTABLISHED TO INCREASE THE STATE'S SUPPLY OF AFFORDABLE HOUSING WHILE STRENGTHENING OREGON COMMUNITIES. (CONTINUED ON SCH O)NOAH STRENGTHENS COMMUNITIES THROUGH FLEXIBLE FINANCING, STRATEGIC PARTNERSHIPS, AND CREATIVE SOLUTIONS THAT BUILD AND PRESERVE AFFORDABLE HOUSING IN OREGON. NOAH OFFERS A VARIETY OF LOAN PRODUCTS TO SUPPORT THE ACQUISITION, RENOVATION AND CONSTRUCTION OF AFFORDABLE HOUSING PROPERTIES THAT PRIMARILY SERVE HOUSEHOLDS WHO EARN BELOW 60% OF THE AREA MEDIAN INCOME. THROUGH ITS SUBSIDIARY, MPOWER OREGON, NOAH FOCUSES ON STRATEGIES FOR SUSTAINABLE, AFFORDABLE HOUSING, SPECIFICALLY THROUGH COORDINATION AND FINANCING OF EFFICIENCY UPGRADES IN MULTI-FAMILY PROPERTIES. NOAH ALSO FACILITATES THE OREGON HOUSING PRESERVATION PROJECT, A STATEWIDE COLLABORATION OF PUBLIC AND PRIVATE STAKEHOLDERS DEDICATED TO PRESERVING OREGON'S AT-RISK, PUBLICLY SUBSIDIZED HOUSING. 0 0 8647847 2275000 6795938 PERMANENT LOAN PROGRAM:NOAH PROVIDES FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING IN THE STATE OF OREGON. DURING FISCAL YEAR 2023/2024, FIFTEEN (15) PERMANENT LOANS WERE CLOSED. THE TOTAL DOLLAR VALUE OF THESE LOANS WAS $37.7MM AND CREATED OR PRESERVED 828 UNITS OF HOUSING. IN ADDITION, ACTIVITY FOR THE YEAR INCLUDED ELEVEN (11) COMMITMENTS TOTALING $24MM AND 359 UNITS AND FOURTEEN (14) LOANS IN PROCESS WITH A VALUE OF $26MM. 431726 499738 PRESERVATION LOAN PROGRAM:THESE LOANS TARGET THE ACQUISITION AND PRESERVATION OF (1) FEDERALLY RENT-SUBSIDIZED UNITS THAT ARE AT RISK OF CONVERSION TO MARKET RATES, (2) PROPERTIES FOR CONVERSION TO AFFORDABLE, (3) MANUFACTURD HOME PARKS, AND (4) LAND IN DESIREABLE LOCATIONS TO PRESERVE FOR DEVELOPMENT OF AFFORDABLE HOUSING. DURING FISCAL YEAR 2023/2024, THERE WERE THREE (3) NEW LOANS MADE UNDER THIS LOAN PROGRAM WITH A VALUE OF $6.5MM. IN ADDITION, ACTIVITY FOR THE YEAR INCLUDED WORK ON LOANS IN PROCESS OF $13MM. (CONTINUED ON SCH O) PREDEVELOPMENT LOAN PROGRAM:THESE LOANS PROVIDE CAPITAL FOR BOTH LAND ACQUISITION AND PREDEVELOPMENT ACTIVITES. DURING FISCAL YEAR 2023/2024, TWO (2) NEW LOANS WERE CLOSED UNDER THIS PROGRAM WITH A VALUE OF $1.2MM AND THERE WERE NO LOANS IN PROCESS. OTHER/GAP LOANS: THESE LOANS PROVIDE NOAH FLEXIBLE CAPITAL FOR LOANS NOT APPROPRIATE FOR BANK-SOURCE FUNDING. ONE (1) OTHER/GAP LOANS WAS CLOSED DURING FISCAL YEAR 2023/2024 WITH A TOTAL VALUE OF $666K . 18870 MPOWER OREGON:NOAH IS SOLE MEMBER OF MPOWER OREGON LLC. MPOWER OFFERS AN INTEGRATED SOLUTION FOR LOWERING ENERGY AND WATER EXPENSES AT EXISTING AFFORDABLE MULTIFAMILY PROPERTIES THROUGH LOANS AND GRANTS. MPOWER DELIVERS IMMEDIATE SAVINGS TO OWNERS AND OCCUPANTS THROUGH PROJECT MANAGEMENT OF BUILDING UPGRADES AND ONGOING TECHNICAL SUPPORT SERVICES. 9079573 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 9 0 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR X WILLIAM A VAN VLIET 5032233211 1750 S HARBOR WAY STE 245 PORTLAND OR 97201 HOWARD WEINMAN CHAIR 0.50 X X 0 0 0 CHUCK SINKEY VICE CHAIR 0.50 X X 0 0 0 JOHN VAN LANDINGHAM SECRETARY 0.50 X X 0 0 0 MONIQUE BERTRAM TREASURER 0.50 X X 0 0 0 DEAN GISVOLD BOARD MEMBER 0.50 X 0 0 0 DUNCAN HWANG BOARD MEMBER 0.50 X 0 0 0 GINA LEON BOARD MEMBER 0.50 X 0 0 0 JAVIER MENA BOARD MEMBER 0.50 X 0 0 0 NELDA NEWTON BOARD MEMBER 0.50 X 0 0 0 BOB POWERS BOARD MEMBER 0.50 X 0 0 0 BRETT SHEEHAN BOARD MEMBER 0.50 X 0 0 0 BRIAN STEWART BOARD MEMBER 0.50 X 0 0 0 WILLIAM A VAN VLIET EXECUTIVE DIRECTOR 38.00 2.00 X 297262 0 35301 ANN REMMERS DEPUTY DIRECTOR/DIRECTOR O 40.00 X 223669 0 27941 CYNTHIA BARBER DIRECTOR OF FINANCE & ADMI 40.00 X 185235 0 15653 RACHEL BIDOU SENIOR RELATIONSHIP MANAGE 40.00 X 174469 0 25487 ROBERT PRASCH PRESERVATION DIRECTOR 40.00 X 146323 0 22364 ERIK PATTISON RELATIONSHIP MANAGER 40.00 X 142476 0 22928 1169434 0 149674 10 0 1 0 US BANK 110 SW FIFTH AVENUE PORTLAND OR 97204 AGENT BANK FEES/BANKING SERVICES 180000 1 2875000 296000 3171000 MORTGAGE INTEREST 531390 6692314 6692314 LOAN SERVICING FEES 531390 376643 376643 BOND SERVICING FEES 531390 115194 115194 OTHER FEES 531390 38519 38519 LOAN FEES 531390 35490 35490 7258160 369703 369703 57867 1481 56386 56386 56386 10855249 7314546 0 369703 2275000 2275000 344121 233724 108827 1570 1377557 935624 435649 6284 137976 93712 43635 629 126639 86012 40049 578 184963 125625 58494 844 16812 9771 7041 52824 52824 68778 41540 27040 198 138704 84899 53414 391 102106 76458 25283 365 103149 77239 25542 368 32475 30938 1537 34352 21459 12893 4014444 4014444 8051 3533 4501 17 120395 113089 7306 PROVISION FOR LOAN LOSS 613553 613553 FEES TO AGENT BANKS 180000 180000 79651 62953 16535 163 10011550 9079573 920570 11407 5591784 6898665 24411792 21093790 36852 1837719 187788904 214074713 712491 691562 247440 220290 9662 27150 1273135 1575843 219824620 246199442 479467 560664 1179017 320015 3895344 5034355 173271371 200101482 17100000 15100000 101778 441584 196026977 221558100 X 23797643 24641342 23797643 24641342 219824620 246199442 843699 0 X X 0 1 X 1 0 X 1374389 1742148 2002883 945527 3171000 9235947 5524886 6038970 6085095 6967951 7258160 31875062 6899275 7781118 8087978 7913478 10429160 41111009 0 0 0 41111009 20222 14926 12489 115770 369703 533110 20222 14926 12489 115770 369703 533110 6919497 7796044 8100467 8029248 10798863 41644119 0.98720 0.96750 0.01280 0.00520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 10000143 10000143 650007 162502 0 0 437788 470321 537076 650007 2095192 3142788 109447 117580 134269 162502 523798 785697 0 1 X 57098 29948 27150 190342 190342 0 27150 CUSTOMER DEPOSITS 92384 OPERATING LEASE LIABILITIES 349200 441584 X 6227252 0 6227252 4627997 4627997 10855249 5383553 0 5383553 4627997 4627997 10011550 PART IV, LINE 2B: CASH AND CASH EQUIVALENTS INCLUDE CASH HELD IN ESCROW FOR TAXES AND INSURANCE AND DEPOSITS FOR CLOSING EXPENSES. RESTRICTED CASH HELD IN ESCROW AND DEPOSITS TOTALED $5,126,738.86 AT JUNE 30, 2024. PART X, LINE 2: THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC TOPIC 740 ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT HAS EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS TOPIC. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSES NETTED AGAINST REVENUE 4,014,444. PROVISION FOR LOAN LOSSES NETTED AGAINST REVENUE 613,553. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSES NETTED AGAINST REVENUE 4,014,444. PROVISION FOR LOAN LOSSES NETTED AGAINST REVENUE 613,553. 1 BRATTON DEVELOPMENT LLC (SUMNER) 728 NE DEKUM PORTLAND OR 97211 850969418 510000 0 LAND ACQUISITION PROUD GROUND (DUKE) 5288 N INTERSTATE AVENUE PORTLAND OR 97217 931290320 501C3 790000 0 LAND ACQUISITION HABITAT FOR HUMANITY PORTLAND REGION (COUCH) 1478 NE KILLINGSWORTH STREET PORTLAND OR 97221 930801200 501C3 625000 0 LAND ACQUISITION NATIVE AMERICAN YOUTH AND FAMILY CENTER (NAYA) 5135 NE COLUMBIA BLVD PORTLAND OR 97218 931141536 501C3 350000 0 LAND ACQUISITION 3 1 PART I, LINE 2: THE CITY OF PORTLAND CONTRACTED WITH NOAH AS A SUBRECIPIENT FOR THE PROVISION OF GRANTS FOR LAND ACQUISITION AND PREDEVELOPMENT ACTIVITIES TO SUPPORT AFFORDABLE HOUSING DEVELOPMENT. THE CITY OF PORTLAND WILL BE RESPONSIBLE FOR THE ONGOING GRANT MONITORING. X X X 0 0 0 0 0 0 0 0 0 WILLIAM A VAN VLIET EXECUTIVE DIRECTOR 227262 0 70000 0 0 0 23771 0 11530 0 332563 0 0 0 ANN REMMERS DEPUTY DIRECTOR/DIRECTOR O 181169 0 42500 0 0 0 16411 0 11530 0 251610 0 0 0 CYNTHIA BARBER DIRECTOR OF FINANCE & ADMI 151235 0 34000 0 0 0 14814 0 839 0 200888 0 0 0 RACHEL BIDOU SENIOR RELATIONSHIP MANAGE 150844 0 23625 0 0 0 13957 0 11530 0 199956 0 0 0 ROBERT PRASCH PRESERVATION DIRECTOR 127323 0 19000 0 0 0 10943 0 11421 0 168687 0 0 0 ERIK PATTISON RELATIONSHIP MANAGER 128976 0 13500 0 0 0 11398 0 11530 0 165404 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B PURSUANT TO POLICY ADOPTED MAY 11, 2009, EACH MEMBER OF THE BOARD OF DIRECTORS SHALL BE PROVIDED A COPY OF NOAH'S FORM 990 FOR REVIEW BEFORE IT IS FILED WITH THE IRS. THE AUDIT COMMITTEE SHALL CONDUCT A REVIEW OF THE FORM 990 AND SHALL REPORT TO THE BOARD IN A TIMELY FASHION THE RESULTS OF ITS REVIEW OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL QUESTIONNAIRES ARE DISTRIBUTED TO OFFICERS, DIRECTORS AND KEY EMPLOYEES TO DETERMINE WHETHER A CONFLICT EXISTS BASED ON DEFINITIONS FROM THE INSTRUCTIONS TO FORM 990. FORM 990, PART VI, SECTION B, LINE 15 NOAH ADOPTED A PROCESS FOR DETERMINING EXECUTIVE LEVEL COMPENSATION ON MAY 11, 2009. THIS PROCESS IS UNDERTAKEN ANNUALLY AT THE END OF EACH CALENDAR YEAR. FORM 990, PART VI, SECTION C, LINE 19 PURSUANT TO POLICY ADOPTED MAY 11, 2009, NOAH MAKES ITS ARTICLES OF INCORPORATION AND ANY AMENDMENTS OR RESTATEMENTS TO THE ARTICLES AVAILABLE TO THE PUBLIC FOR INSPECTION AND COPYING UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MPOWER OREGON LLC 1750 S HARBOR WAY STE 245 PORTLAND OR 97201 460855642 PROVIDING ENERGY EFFICIENT SERVICES TO AFFORDABLE HOUSING COMMUNITIES. OR 20127 948798 NETWORK FOR OREGON AFFORDABLE HOUSING