2013-08-27T11:19:08-05:00 2012-12-31 362938874 OSTROW REISIN BERK & ABRAMS LTD 455 N CITYFRONT PLAZA DRIVE SUITE 1500 CHICAGO IL 606115313 990 2012-01-01 367120987 NATIONAL COMMUNITY INVESTMENT FUND NATI 3128815826 135 N LASALLE STREET NO 2040 CHICAGO IL 60603 SAURABH NARAIN 3128815826 2013-08-23 1 JAMES G QUAID P00641738 3126707444 2012 2016-02-24 21:20:13Z SAURABH NARAIN 135 N LASALLE STREET NO 2040 CHICAGO IL 60603 7355067 0 X WWW.NCIF.ORG X 1995 IL NCIF'S MISSION IS TO INCREASE THE NUMBER AND CAPACITY OF DOMESTIC, DEPOSITORY CDFI'S THAT ARE BOTH EFFECTIVE AGENTS OF LOCAL COMMUNITY DEVELOPMENT IN DISTRESSED MARKETS AND SOUND FINANCIAL INSTITUTIONS. 4 2 0 0 0 0 0 1006814 2124143 3138334 -447909 -17641 25022 2522560 1701256 6650067 0 0 0 0 65000 65000 0 0 3800 1144012 1195279 1209012 1260279 492244 5389788 21314589 21558851 14132935 11514765 7181654 10044086 X SEE SCHEDULE 0 0 0 896873 311253 SEE SCHEDULE O 47908 2724814 SEE SCHEDULE O 42705 102267 SEE SCHEDULE O DEPOSIT REFERRAL SOURCES FOR CDFIS - DURING 2012, NCIF CONTINUED WORK THAT WAS ORIGINALLY SUPPORTED BY THE F.B. HERON FOUNDATION AND THE CDFI FUND TO CREATE THE SOCIAL PERFORMANCE METRICS, A POSITIVE SCREEN THAT DETAILS THE ACTIVITY OF EVERY DOMESTIC BANK WITHIN LOW TO MODERATE INCOME COMMUNITIES. USING THIS SUITE OF TRANSPARENT METRICS, NCIF ADVOCATED FOR THE INDUSTRY AT VARIOUS INDUSTRY EVENTS TO COMMUNICATE THE USE OF THE METRICS IN ORDER TO DRIVE MORE SOCIALLY RESPONSIBLE AND MAINSTREAM CAPITAL INTO THE COMMUNITY DEVELOPMENT BANKING SECTOR. NCIF CONTINUES TO WORK DILIGENTLY TO DIRECT INVESTMENT CAPITAL INTO MISSION ORIENTED BANKING INSTITUTIONS, INCLUDING CDBIS, THAT SERVE UNDERSERVED AND ECONOMICALLY VULNERABLE POPULATIONS. 987486 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 X 22 0 0 0 0 0 0 0 0 X 4 2 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X JOE MROCZEK 3128815882 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 DAVID MCGRADY 1.50 X 15000 0 0 CARLTON JENKINS 1.20 X 11250 0 0 MARY TINGERTHAL 1.20 X 11250 0 0 CHARLES VAN LOAN 1.20 X 11250 0 0 SAURABH NARAIN 40.00 X 0 0 0 WESTON MAHER 40.00 X 0 0 0 JOSEPH MROCZEK 40.00 X 0 0 0 48750 0 0 0 0 0 0 0 1006814 1006814 NMTC FEE INCOME 525990 2724814 2724814 INCOME FROM INVESTMENT 900099 248737 248737 CONFERENCE SPONSORSHIP 900099 102267 102267 INTEREST ON CDS 900099 29799 29799 INTEREST ON LOANS 522291 24717 24717 8000 8000 3138334 43859 43859 22400 0 22400 22400 22400 643500 705000 -61500 -61500 -61500 GAIN ON SETTLEMENT OF LOAN PAYOFF 900099 2500000 2500000 OTHER INCOME 900099 160 160 2500160 6650067 3138334 0 2504919 X 65000 65000 27325 27325 28000 28000 130442 81442 49000 54807 41105 13702 47542 32086 15456 42704 42704 163558 163558 3706 3706 40911 8182 32729 PERSONNEL - PEO 584999 547124 34075 3800 MEMBERSHIP DUES AND FEE 32858 32858 38427 38427 1260279 987486 268993 3800 3119329 3976603 72814 555844 33803 45397 1299963 178200 39289 47199 22705 6642 17010 16063 1699338 1192251 14985227 15501323 47816 45971 21314589 21558851 279580 304543 13853355 11210222 14132935 11514765 X 4335494 8194793 2846160 1849293 7181654 10044086 21314589 21558851 X 5389788 -1530489 -996867 X 0 1 X 1 1 1 10504 3227 7277 12201 3415 8786 16063 EQUITY INVESTMENTS IN CDFIS 10420174 C INVESTMENT IN NCIF CAPITAL, LLC 13651 C CERTIFICATES OF DEPOSIT 5067498 C 15501323 6650067 0 6650067 0 6650067 2257146 996867 996867 1260279 0 1260279 PART XII, LINE 2D - OTHER ADJUSTMENTS: INTEREST - AMORTIZATION OF DISCOUNT 721,837. LOSS ON WRITE-OFF OF UNAMORTIZED DEBT DISCOUNT 275,030. DAVID MCGRADY BOARD CHAIRMAN 0 NCIF INVESTMENT - NCIF MADE AN EQUITY INVESTMENT IN CFBANC CORPORATION DURING 2010. THE CHAIRMAN OF THE BOARD, DAVID MCGRADY, IS ALSO THE VICE CHAIRMAN AT CFBANC CORPORATION.DAVID RAISES CAPITAL AND OPERATING SUPPORT FORM FOUNDATIONS, BANKS AND OTHER INVESTORS FOR CDFIS AND NONPROFIT ORGANIZATIONS. THE CAPITAL AND OPERATING SUPPORT MAY BE RAISED FROM EXISTING OR POTENTIAL INVESTORS IN OR SUPPORTERS OF NCIF.DAVID MAY FROM TIME TO TIME PROVIDE CONSULTING SERVICES TO PARTIES WITH WHOM NCIF MAY HAVE A BUSINESS RELATIONSHIP; AND AN ACTIVE ADVISOR TO A NUMBER OF NEW MARKET TAX CREDIT INVESTORS, ALLOCATEES AND QALICBS. 0 CARLTON JENKINS BOARD TRUSTEE 0 NCIF INVESTMENT - NCIF PURCHASED PREFERRED EQUITY IN ONEUNITED BANK DURING 2011. 0 ORGANIZATION MISSION STATEMENT FORM 990, PART III, LINE 1, MISSION STATEMENT: NATIONAL COMMUNITY INVESTMENT FUND (NCIF) IS AN INDEPENDENT NON-PROFIT TRUST FUND WITH $21.5 MILLION IN TOTAL ASSETS AND $173 MILLION IN ALLOCATION OF NEW MARKETS TAX CREDITS FROM THE CDFI FUND. NCIF INVESTS THIS PRIVATE CAPITAL IN AND ENABLES KNOWLEDGE TRANSFER TO DOMESTIC DEPOSITORY INSTITUTIONS THAT INCREASE ACCESS TO FINANCIAL SERVICES IN UNDERSERVED COMMUNITIES. OVER THE PAST SEVERAL YEARS, NCIF HAS REINFORCED ITS POSITION AS THE LARGEST PRIVATE EQUITY SOURCE AND SOCIAL INVESTOR THAT SUPPORTS MISSION ORIENTED BANKING INSTITUTIONS, INCLUDING COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). AS A WHOLE, NCIF REFERS TO THESE INSTITUTIONS AS COMMUNITY DEVELOPMENT BANKING INSTITUTIONS (CDBIS). TO ACHIEVE THIS, NCIF PURSUES A COMPREHENSIVE FOUR-PART BUSINESS STRATEGY AS FOLLOWS - ALL THESE ACTIVITIES COMPLEMENT EACH OTHER TO HELP BUILD A ROBUST AND HIGH IMPACT CDFI BANKING INDUSTRY: 1.PROVIDER OF PATIENT CAPITAL: NCIF PROVIDES CAPITAL DIRECTLY AND MAKES REFERRALS TO OTHER CO-INVESTORS; 2.DEPOSIT REFERRAL SOURCE: NCIF IS CREATING A DEPOSITS PLATFORM FOR INVESTORS TO MAKE DEPOSITS IN BANKS IDENTIFIED USING THE NCIF SOCIAL PERFORMANCE METRICS AND THAT HAVE A STRONG MISSION OF ECONOMIC DEVELOPMENT; 3.ASSIST IN GENERATING EARNING ASSETS: NCIF USES THE NEW MARKETS TAX CREDIT PROGRAM TO HELP CDBIS MAKE LOANS TO END BORROWERS THAT THE BANKS WOULD NOT HAVE OTHERWISE BEEN ABLE TO MAKE. THESE HIGH IMPACT LOANS ALSO EARN INTEREST AND FEE INCOME THEREBY ADDING TO THEIR BOTTOM-LINE AND SHAREHOLDER VALUE. NCIF EARNS FEES ON ITS ALLOCATION PLACEMENT. THE TRANSACTIONS HAVE A DIRECT IMPACT ON IMPROVING LOW-INCOME COMMUNITIES; AND 4.IMPROVE EFFICIENCY AND IMPACT: THE NCIF NETWORK AND ANNUAL COMMUNITY DEVELOPMENT BANKING CONFERENCE ARE USED TO FACILITATE THE TRANSFER OF KNOWLEDGE AND BEST PRACTICES. PROGRAM SERVICE STATEMENT FORM 990, PART III, LINE 4A PROVIDER OF PATIENT CAPITAL - AS OF 12/31/2012, NCIF'S PORTFOLIO CONSISTS OF PROGRAM-RELATED INVESTMENTS OF $10.6 MILLION IN 25 CDBIS THROUGHOUT THE NATION. WITH THE SUPPORT OF NCIF'S INVESTMENTS, PORTFOLIO INSTITUTIONS REPORTED ORIGINATING OVER $490.1 MILLION IN DEVELOPMENT LOANS IN LOW INCOME COMMUNITIES OR TO LOW INCOME BORROWERS DURING THE MOST RECENT YEAR OF ANALYSIS (FY 2010). THESE CDBIS PROVIDE CREDIT PRODUCTS, DEVELOPMENT SERVICES AND RETAIL FINANCIAL SERVICES IN ECONOMICALLY VULNERABLE COMMUNITIES AND HELP IN PROVIDING ALTERNATIVES TO PAYDAY LENDERS, CHECK CASHERS AND SUBPRIME LENDERS. PROGRAM SERVICE STATEMENT FORM 990, PART III, LINE 4B ASSIST IN GENERATING EARNING ASSETS THROUGH THE NEW MARKETS TAX CREDITS PROGRAM - EXPENSES RELATING TO THE ONGOING OPERATION OF NCIF'S NEW MARKETS TAX CREDITS (NMTC) PROGRAM. THE NMTC PROGRAM WAS CREATED TO CATALYZE MUCH NEEDED ECONOMIC DEVELOPMENT INVESTMENT INTO ECONOMICALLY DISTRESSED, LOW-INCOME COMMUNITIES. NCIF HAS BEEN AWARDED A TOTAL OF $173 MILLION IN NMTC ALLOCATIONS ACROSS THE 2003, 2008, 2009 AND 2012 PROGRAM YEARS. AS OF DECEMBER 31, 2012, NCIF HAS CLOSED 11 DEALS UTILIZING ALL PRIOR $128 MILLION OF ITS NMTC ALLOCATION. NCIF DOES NOT ALLOCATE HUMAN CAPITAL EXPENSES INTO NMTC AND OTHER BUSINESS LINES. APART FROM DIRECT EXPENSES, ALL OTHER EXPENSES ARE BOOKED IN 4(A). PROGRAM SERVICE STATEMENT FORM 990, PART III, LINE 4C THE NCIF NETWORK - NCIF OPERATES THE NCIF NETWORK FOR PROVIDING BEST PRACTICES IN RISK MANAGEMENT, VALUATION, GOVERNANCE AND DEVELOPMENT IMPACT ANALYSIS. THE PREMIER EVENT OF THE NCIF NETWORK IS THE ANNUAL DEVELOPMENT BANKING CONFERENCE WHICH BRINGS TOGETHER CHIEF EXECUTIVES FROM CDBI BANKS, THRIFTS AND CREDIT UNIONS TO SHARE BEST PRACTICES AND FOR PEER TO PEER NETWORKING. THE 2012 CONFERENCE WAS ATTENDED BY OVER 170 INDIVIDUALS, INCLUDING CHIEF EXECUTIVE OFFICERS AND SENIOR STAFF MEMBERS FROM OVER 50 BANKS, THRIFTS AND CREDIT UNIONS. THE THEME OF THE EVENT WAS "RESPONSIBLE BANKING, STRONG COMMUNITIES" AND SESSIONS FROM THE EVENT FOCUSED ON MEASURING THE IMPACT OF COMMUNITY DEVELOPMENT BANKS AND COMMUNICATING THAT IMPACT, RAISING CAPITAL, PARTNERSHIPS AMONG CDBI BANKS, OPPORTUNITIES AND CHALLENGES OF CDBI BANKING, AND THE INTERSECTION OF FINANCIAL TECHNOLOGY AND COMMUNITY DEVELOPMENT. ON AN ANNUAL BASIS, NCIF PRODUCES AN ANNUAL REPORT ON CDFI BANKS THAT HAS BECOME THE DEFINITIVE SOURCE FOR INFORMATION ON THE SECTOR. PROFESSIONAL EMPLOYER ORGANIZATION FORM 990, PART V, LINE 2A AND PART VII: NCIF HAS DELEGATED THE SERVICES OF NCIF TO NCIF MANAGEMENT LLC. THE EMPLOYEES OF NCIF MANAGEMENT LLC ARE EMPLOYEES OF INSPERITY, A PROFESSIONAL EMPLOYER ORGANIZATION (PEO). THIS INCLUDES THE CHIEF EXECUTIVE AND THE MANAGER OF OPERATIONS AND CONTROL. FORM 990, PART VI, SECTION A, LINE 3 NCIF SIGNED A SERVICE AGREEMENT WITH NCIF MANAGEMENT LLC FOR THE PURPOSE OF PROVIDING INVESTMENT ADVISORY, ADMINISTRATIVE, AND MANAGEMENT SERVICES TO NCIF. NCIF MANAGEMENT LLC IS A 100% OWNED SUBSIDIARY OF NCIF. THE TRUSTEES CONTINUE TO HAVE FULL RESPONSIBILITY FOR MANAGING NCIF. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED IN DETAIL BY AT LEAST TWO EMPLOYEES OF THE NCIF MANAGEMENT LLC AND IS PRESENTED TO THE TRUSTEES FOR THEIR REVIEW BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES AND OFFICERS OF THE NCIF MANAGEMENT LLC COMPLETE ANNUAL QUESTIONNAIRES DISCLOSING ANY CONFLICT OF INTEREST. THE DETERMINATION OF WHETHER A CONFLICT EXISTS IS ON A SELF-MONITORED BASIS BY EACH INDIVIDUAL. THE BOARD IS ADOPTING A FORMAL POLICY FOR REVIEWING AND AFFIRMING ACTIONS WHEN THERE IS A CONFLICT OF INTEREST. WHERE A CONFLICT EXISTS THAT INDIVIDUAL WOULD BE EXCLUDED FROM PARTICIPATION IN VOTING AND DECISION MAKING. ON AN ONGOING BASIS, THESE INDIVIDUALS WOULD RECUSE THEMSELVES FROM ANY NEW BUSINESS MATTERS WHERE A CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 DURING 2010, THE TRUSTEES ENGAGED A CONSULTING FIRM TO REVIEW AND DETERMINE COMPENSATION FOR THE CHIEF EXECUTIVE. STAFF COMPENSATION IS DETERMINED BY THE CHIEF EXECUTIVE, BASED ON COMPARABLES RECEIVED FROM INSPERITY, SIMILAR ORGANIZATIONS, AND PAST COMPENSATION STRUCTURE AT SHOREBANK. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE GENERAL PUBLIC. THE FINANCIAL STATEMENTS ARE PUBLICLY DISCLOSED ON THE ORGANIZATION'S WEBSITE. OTHER FEES FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 81,442. MANAGEMENT AND GENERAL EXPENSES 49,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 130,442. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: INTEREST ON AMORTIZATION OF DISCOUNT -721,837. LOSS ON WRITE-OFF OF UNAMORTIZED DEBT DISCOUNT -275,030. NCIF MANAGEMENT LLC 135 S LASALLE SUITE 2040 CHICAGO IL 60603 273626124 PROVIDE INVESTMENT ADVISORY, ADMINISTRATIVE AND MANAGEMENT SERVICES IL 22400 585212 NATIONAL COMMUNITY INVESTMENT FUND NCIF NEW MARKETS CAPITAL FUND I CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 043730582 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND II CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 043730590 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND III CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 043730551 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND IV CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 383791768 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND V CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 383791769 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND VI CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 383791770 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND VII CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 383791771 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND VIII CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 453342249 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND IX CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 453342421 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND X CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 453342611 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF NEW MARKETS CAPITAL FUND XI CDE LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 453342735 INVESTING IN LOW-INCOME COMMUNITIES DE N/A NCIF CAPITAL LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 161645178 MANAGE CDES IL NATIONAL COMMUNITY INVESTMENT FUND C 228 13904 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0