2013-09-19T10:44:52-05:00 2012-12-31 133923842 MBAF CPAS LLC 400 COLUMBUS AVEELOBBY 2ND FL VALHALLA NY 10595 990 2012-01-01 133154100 LEVITICUS 2523 ALTERNATIVE FUND INC LEVI 9146069003 33 W MAIN STREET NO 205 ELMSFORD NY 10523 DAVID C RAYNOR 9146069003 2013-09-17 1 P00093923 9147410800 2012 2016-02-24 21:20:13Z DAVID C RAYNOR 33 W MAIN STREET NO 205 ELMSFORD NY 10523 1123644 0 X WWW.LEVITICUSFUND.ORG X 1983 NY PROVIDE LOANS TO ECONOMICALLY DISADVANTAGED. 13 13 3 27 0 0 189943 596598 378770 445811 59393 41067 34191 40168 662297 1123644 0 0 0 0 374131 385180 0 0 18338 223158 465812 597289 850992 65008 272652 15932822 19182218 11715194 14691938 4217628 4490280 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, ESPECIALLY CHILD CARE CENTERS, THROUGHOUT NEW YORK, NEW JERSEY AND CONNECTICUT. 0 0 722057 485979 PROMOTE ACTIVITIES AIMED AT MEETING THE BASIC HUMAN NEEDS OF THE ECONOMICALLY DISADVANTAGED. LOANS ARE MADE TO QUALIFIED APPLICANTS TO FINANCE PROJECTS. 2012 NEW LENDING ACTIVITY WAS AS FOLLOWS: 8 LOANS TOTALING $3,851,191 PARTIALLY FINANCING 195 UNITS OF AFFORDABLE HOUSING; AND 1 LOAN TOTALING $40,760 PARTIALLY FINANCING EARLY CHILDHOOD EDUCATION FACILITIES SERVING 76 CHILDREN FROM LOW-INCOME FAMILIES. 722057 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 3 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X X DAVID RAYNOR 9146069003 33 W MAIN STREET ROOM 205 ELMSFORD NY 10523 MS SONDRA FORD 0.50 X X 0 0 0 MR JOHN WILSON 0.50 X X 0 0 0 MS LINDA HINCKEN 0.50 X X 0 0 0 SR MARY HEYSER 0.50 X X 0 0 0 MR JOSEPH H CRUICKSHANK 0.50 X 0 0 0 SR ALICE V FEELEY RDC 0.50 X 0 0 0 MR SALVATORE DEL BENE 0.50 X 0 0 0 MR DERRICK A LOVETT 0.50 X X 0 0 0 SR KATHLEEN PHELAN OP CFRE 0.50 X 0 0 0 MS CATHERINE ROWAN 0.50 X X 0 0 0 MR RICHARD O'BRIEN 0.50 X 0 0 0 MR JUSTIN TOWEY 0.50 X 0 0 0 MR MICHAEL SENA 0.50 X 0 0 0 MR DAVID RAYNOR 40.00 X 107375 0 21856 107375 0 21856 1 0 0 0 0 383373 213225 596598 INTEREST PROJECT LOANS 900099 749898 749898 LESS:INTEREST COST 900099 -304087 -304087 445811 41067 41067 COMMITMENT/CLOSING FEE 900099 40168 40168 40168 1123644 485979 0 41067 129231 111138 12923 5170 169332 145625 16933 6774 30898 26574 3089 1235 34551 29714 3455 1382 21168 18204 2117 847 5034 5034 27000 27000 22873 22873 9076 9076 15717 13517 1572 628 49755 42790 4975 1990 11684 11684 4810 4810 15174 15174 1280 1101 128 51 PROVISION FOR LOAN LOSS 200887 200887 STIPENDS 80119 70504 9615 DUES AND SUBSCRIPTIONS 8429 8429 TELEPHONE 3835 3298 384 153 10139 4498 5533 108 850992 722057 110597 18338 1572964 1701195 2839505 48967 10326948 11431662 63997 50180 21056 13817 3909062 3043225 102792 103847 15932822 19182218 26548 27618 5736 11634001 14610397 54645 48187 11715194 14691938 X 3795693 4051845 421935 438435 4217628 4490280 15932822 19182218 272652 0 X X 0 1 X 1 0 X 335205 2158782 193693 189943 596598 3474221 592152 730684 690952 683280 790066 3487134 927357 2889466 884645 873223 1386664 6961355 0 0 0 6961355 117355 70781 66135 59393 41067 354731 117355 70781 66135 59393 41067 354731 1044712 2960247 950780 932616 1427731 7316086 0.95150 0.92750 0.04850 0.07250 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 41855 36513 5342 22142 13667 8475 13817 CERTIFICATES OF DEPOSIT 3043225 F 3043225 INTEREST PAYABLE 46115 DEFERRED RENT 2072 48187 X 1123644 0 1123644 0 1123644 850992 0 850992 0 850992 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. IN ASSESSING THE REALIZABILITY OF TAX BENEFITS, MANAGEMENT CONSIDERS WHETHER IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF ANY TAX POSITION WILL NOT BE REALIZED. THE ULTIMATE REALIZATION OF SUCH TAX POSITIONS IS DEPENDENT UPON THE GENERATION OF FUTURE INCOME. MANAGEMENT CONSIDERS PROJECTED FUTURE INCOME AND TAX PLANNING STRATEGIES IN MAKING THIS ASSESSMENT. THE ORGANIZATION DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE YEAR ENDED DECEMBER 31, 2012. HOWEVER, 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 NONPROFIT STATUS WOULD BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION FILES INFORMATIONAL RETURNS IN THE UNITED STATES FEDERAL AND NEW YORK STATE JURISDICTIONS. THE ORGANIZATION IS GENERALLY NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE INTERNAL REVENUE SERVICE OR NEW YORK STATE FOR RETURNS FILED BEFORE 2009. 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 AUDIT 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 HUMAN RESOURCES COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY REVIEWS SALARIES FOR ALL POSITIONS IN THE ORGANIZATION INCLUDING THE EXECUTIVE DIRECTOR. SALARIES ARE COMPARED TO COMPARABLE POSITIONS IN OTHER ORGANIZATIONS USING DATA FROM SEVERAL SALARY SURVEYS INCLUDING THOSE CONDUCTED BY THE NONPROFIT COORDINATING COMMITTEE OF NEW YORK, GUIDESTAR, AND AN INDUSTRY MEMBERSHIP ORGANIZATION. SALARY SURVEY DATA IS SUPPLEMENTED WITH FORM 990 DATA FROM SELECTED COMPARABLE ENTITIES. THE HUMAN RESOURCES COMMITTEE PRESENTS ITS RECOMMENDATION TO THE FULL BOARD OF DIRECTORS FOR FINAL APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THERE ARE NO CHANGES IN POLICY OR PROCEDURES TO REVIEW THE WORK OF INDEPENDENT AUDITORS FROM PRIOR YEAR.