2014-08-12T08:43:28-05:00 2013-12-31 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 208146583 990 2013-01-01 520192004 ENTERPRISE COMMUNITY LOAN FUND INC % CRAIG MELLENDICK ENTE 4109640552 11000 BROKEN LAND PARKWAY Suite 700 COLUMBIA MD 21044 craig mellendick cfo 4109640552 2014-05-30 true 3016529100 2013 2015-11-30 17:44:51Z craig mellendick 11000 BROKEN LAND PARKWAY 700 COLUMBIA MD 21044 9726401 false X WWW.ENTERPRISECOMMUNITY.COM X 1990 MD to deliver innovative financial products AND TECHNICAL ASSISTANCE TO ORGANIZAtiONS TO ACQUIRE, DEVELOP, AND PRESERVE QUALITY AFFORDABLE HOUSING AND TO REVITALIZE COMMUNITIES. 6 5 18 0 1988959 1502917 6658550 6638793 344260 1584691 0 0 8991769 9726401 0 0 0 0 1432889 1325110 0 0 0 7089184 4588869 8522073 5913979 469696 3812422 147516517 153171768 117022059 119518889 30494458 33652879 ENTERPRISE COMMUNITY LOAN FUND DELIVERS INNOVATIVE FINANCIAL PRODUCTS AND TECHNICAL ASSISTANCE TO MISSION-ALIGNED ORGANIZATIONS TO ACQUIRE, DEVELOP AND PRESERVE QUALITY AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES, AND TO REVITALIZE THEIR COMMUNITIES BY PROVIDING ACCESS TO GOOD JOBS, QUALITY AFFORDABLE HOUSING, FIRST-RATE SCHOOLS, TRANSPORTATION AND HEALTHY LIVING ENVIRONMENTS. false false 5366514 6638793 Enterprise Community Loan Fund was formed to promote decent, safe, and affordable housing for low-income persons and families in furtherance of its mission and that of its parent organization, Enterprise Community Partners. Enterprise Community Partners and Enterprise Community Loan Fund believe that the provision of decent, safe, and affordable housing is the first step in enabling low income persons and families to break out of the cycle of poverty, and is also a means to combat community deterioration and revitalize distressed neighborhoods. In furtherance of these purposes, Enterprise Community Loan Fund provides loans to nonprofit developers and select mission-aligned for profit developers to support the overall development and financing of low income housing units and community space. Loans are also provided to other types of non-profit community based groups working to revitalize their community. Access to adequate funding is one of the greatest challenges facing community-based organizations. Enterprise Community Loan Fund has provided loans to support the overall development and financing of low income housing units and community space. The making of loans and directly providing capacity-building and "borrower readiness" expertise that effectively positions borrowers to successfully obtain financing is an important program activity of Enterprise Community Loan Fund in furtherance of its mission and that of Enterprise Community Partners. Enterprise Community Loan fund is a federally certified Community Development Financial Institution. It is also one of the largest nonprofit CDFIs in the country. Enterprise Community Loan Fund has participated in conferences, seminars, workshops and other training programs sponsored by its parent organization, Enterprise Community Partners, and other organizations. These conferences were attended by persons representing organizations involved in the low-income housing and community development fields. Through such conferences, seminars, workshops, online webinars etc., Enterprise Community Loan Fund communicated educational information, provided market analyses, organizational assessments, and business and strategic planning. They also offered training regarding the financial tools available to nonprofit-sponsored housing projects, as well as information regarding the development, financing structure, and oversight of low-income housing projects and community facilities in a manner that will meet the long-term needs of low-income residents and their communities. Enterprise Community Loan Fund served as an information resource for nonprofit groups involved in the acquisition, development, ownership, and management of low-income housing and community facilities. In this capacity, it responded to inquiries from nonprofits, typically local, community-based organizations that needed information or had questions about specific issues involving the provision of decent, safe, affordable housing to low-income persons and facilities. Enterprise Community Loan Fund was not compensated for this activity. 5366514 true true false false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 17 0 true 18 true false false false false false false false false false false false false false X 6 5 false false false false false false false true true false false true true true true true true true true false CA MD NM X X CRAIG MELLENDICK 4107726016 11000 BROKEN LAND PARKWAY STE 700 columbia MD 21044 ROBERT TSIEN DIRECTOR 1.0 X DOROTHY BROADMAN DIRECTOR 1.0 X RON GRZYWINSKI DIRECTOR 1.0 X SCOTT HOEKMAN DIRECTOR 1.0 X TERRI LUDWIG DIRECTOR, CHAIRMAN 1.0 37.0 X X 0 493610 50690 charles werhane director 1.0 39.0 X 0 19635 FAITH THOMAS SECRETARY 1.0 37.0 X 0 254264 39174 CHARLOTTE CROW TREASURER/VICE PRESIDENT 38.0 0.0 X 192198 0 40283 LORI CHATMAN PRESIDENT 38.0 0.0 X 247519 0 21005 MIchael MCNEELY VICE PRESIDENT 5.0 33.0 X 0 330948 19539 ANTONIETA RAMOS VICE PRESIDENT 38.0 X 184156 0 44096 KEITH FAIREY ASSISTANT SECRETARY 1.0 37.0 X 0 209267 38767 OYESHOLA OLATOYE ASSISTANT SECRETARY 1.0 37.0 X 0 204152 38242 LINDA SORDEN SENIOR LENDER 38.0 0.0 X 118363 27249 TIMOTHY MARTIN chief credit officer 38.0 X 169583 36192 JAMES CLARKE SENIOR LENDER 38.0 X 119593 15632 DANIELLE HAMMANN SENIOR LENDER 38.0 X 111825 24081 VICTORIA BARRECA LENDER 38.0 X 107692 12175 WILLIAM FREY former assistant secretary 0.0 38.0 X 0 223972 34847 ABBY JO SIGAL FORMER ASSISTANT SECRETARY 38.0 X 0 259490 36270 1250929 1975703 497877 8 true true false 0 110000 1392917 1502917 FEE INCOME 531110 622240 622240 MISCELLANEOUS 531110 96857 96857 INTEREST ON PROG 531110 6065301 6065301 RELATED INVESTMENT-TOAH/BAY AREA K-1 531390 -177286 -177286 RELATED INVESTMENT-GSAF, LLC K-1 531390 31681 31681 6638793 387268 387268 0 0 0 0 0 1197423 1197423 1197423 1197423 0 0 0 0 9726401 6638793 1584691 0 0 0 0 623873 491325 132548 0 521616 410793 110823 0 179621 131025 48596 0 0 0 0 0 0 0 0 1201 1057 144 65618 57744 7874 0 0 170378 149933 20445 51116 44982 6134 0 7472 6575 897 3153123 3153123 250000 250000 1836 1616 220 0 PROFESSIONAL FEES 1118835 892183 226652 0 MISCELLANEOUS -63333 -55733 -7600 0 BAD DEBTS -173478 -173478 OTHER EXPENSE 6101 5369 732 5913979 5366514 547465 0 0 0 28901704 31046015 0 0 893113 2149218 0 0 0 0 106039669 113886758 0 0 0 19000 322391 322391 1837 10610491 5916185 931064 0 51240 57773 0 0 87399 96819 147516517 153171768 1114332 795052 0 0 0 0 0 0 0 0 0 0 0 0 109154279 114556399 6753448 4167438 117022059 119518889 X 21136919 27567909 9357539 6084970 0 0 30494458 33652879 147516517 153171768 X 3812422 -616851 -37150 X false true X true false X X X false false false ENTERPRISE COMMUNITY PARTNERS INC 521231931 07 true true true 250000 1 250000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3770 3770 318621 318621 0 DEPOSITS HELD FOR OTHERS 3844714 DUE TO PARENT 316275 DUE TO AFFILIATE 6449 4167438 X 9072400 -616851 -616851 9689251 37150 37150 9726401 5913979 5913979 5913979 schedule D part X, question 2 Loan Fund has received a determination letter from the Internal Revenue Service ("IRS") to be treated as a tax exempt entity pursuant to section 501(c)(3) of the Internal Revenue Code (the "Code"). Loan Fund did not have any unrelated business income during the years ended December 31, 2013 and 2012. Accordingly, no provision or benefit for income taxes has been recorded in the accompanying consolidated financial statements. Loan Fund is required to file and does file tax returns with the IRS. Income tax returns filed by the Loan Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2010 remain open for examination. TOAH has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of income and deductions are passed through and are reported by Loan Fund on its tax return. TOAH's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, TOAH is not required to take any tax positions in order to qualify as a pass-through entity. TOAH is required to and does file tax returns with the Internal Revenue Service. Income tax returns filed by TOAH are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2011 remain open. Accordingly, these consolidated financial statements do not reflect a provision for income taxes and TOAH has no other tax positions which must be considered for disclosure. SCHEDULE D PART XI LINE 2D AND 4B TOTAL TAX TO GAAP DIFFERENCE FOR SUBSIDIARY INVESTMENT IN ECLF TOAH MEMBER, llc/bay AREA AND K-1 INVESTMENT IN GSAF, LLC IS $37,150. X X false false false false false false false true false FAITH THOMAS SECRETARY 0 212622 0 40000 0 1642 0 19539 0 19635 0 293438 0 0 CHARLOTTE CROW TREASURER/VICE PRESIDENT 173091 0 17465 1642 14435 0 25848 0 232481 0 0 0 LORI CHATMAN PRESIDENT 210917 0 35000 0 1602 0 19005 0 2000 0 268524 0 0 0 WILLIAM FREY former assistant secretary 0 196140 0 25500 0 2332 0 16916 0 17931 0 258819 0 0 MIchael MCNEELY VICE PRESIDENT 0 248858 0 80000 0 2090 0 19539 0 0 0 350487 0 0 ABBY JO SIGAL FORMER ASSISTANT SECRETARY 0 205838 0 53000 0 652 0 19539 0 16731 0 295760 0 0 TERRI LUDWIG DIRECTOR, CHAIRMAN 0 382320 0 110600 0 690 0 19539 0 31151 0 544300 0 0 ANTONIETA RAMOS VICE PRESIDENT 168407 0 14947 0 802 0 14155 0 29941 0 228252 0 0 0 KEITH FAIREY ASSISTANT SECRETARY 0 175231 0 33383 0 653 0 15801 0 22966 0 248034 0 0 TIMOTHY MARTIN chief credit officer 155880 13403 300 12311 0 23881 0 205775 0 0 0 OYESHOLA OLATOYE ASSISTANT SECRETARY 0 169424 0 34096 0 632 0 15337 0 22905 0 242394 0 0 part I questIon 7 officers and key employees have a performance bonus plan based on achieving certain financial targets and other individual performance criteria. part vi section B question 11 THE BOARD IS GIVEN A COPY OF THE ForM 990 TO REVIEW, AND IT IS DISCUSSED IN THE BOARD MEETING AND APPROVED IN ADVANCE OF FILING. part vi section B question 12C An annual conflict of interest disclosure exercise is performed by the organization each January. This exercise requires each employee to read the business ethics policy and complete the conflict of interest disclosure form identifying any possible conflicts known by the employee. The Chief Audit Executive reviews and approves the document content and follows up on any concerns with the employee. New employees are also required to complete the conflict of interest disclosure form upon hiring. A log is maintained of any documented conflicts for future referencing. On an annual basis, all directors acknowledge their familiarity with the Loan Fund Conflict of Interest Policy and complete a Disclosure Statement. The completed statements are reviewed by the General Counsel. Any issues noted are referred to the Board or appropriate committee. part vi section B question 15 The process for determining compensation for the President and other Officers of Enterprise Community Loan Fund is as follows. The Chairman of the Board approves the President's compensation, utilizing comparability data. The Chairman also reviews and approves the President's recommendations for the other Officer's compensation, utilizing comparability data. part vi Section C - question 19 no documents available to the public. disclosure 2013 INVEST IN ECLF TOAH MEMBER, LLC/BAY AREA AND GSAF, LLC GAAP/TAX DIFFERENCE ($37,150). ENTERPRISE COMMUNITY PARTNERS INC 11000 broken land parkway COLUMBIA MD 21044 521231931 AFF. HOUSING MD 501(C)(3) 509(a)(1) NA false ECLF TOAH MEMLLC 11000 broken land parkway COLUMBIA MD 21044 275305396 FINANCING DE ECLF RELATED 5765 59035 false false 0.99990 false true true false true false false false false false true false true false false true false false false