NATIONAL COMMUNITY INVESTMENT FUND IRRV TR: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- NATIONAL COMMUNITY INVESTMENT FUND IRRV TR (EIN 36-7120987)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-08-14
- IRS object ID
- 201222279349300737
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-08-14T08:50:13-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 362938874 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | OSTROW REISIN BERK & ABRAMS LTD | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 455 N CITYFRONT PLAZA DRIVE SUITE 1 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 606115313 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 367120987 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NATIONAL COMMUNITY INVESTMENT FUND | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NATI | NameControl |
| Phone | 3128815826 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 N LASALLE STREET NO 2040 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60603 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | SAURABH NARAIN | Name |
| Title | CHIEF EXECUTIVE | Title |
| Phone | 3128815826 | Phone |
| Date Signed | 2012-07-26 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JAMES G QUAID | Name |
| PTIN | P00641738 | PTIN |
| Phone | 3126707444 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | SAURABH NARAIN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 N LASALLE STREET NO 2040 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60603 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 2245693 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.NCIF.ORG | WebSite |
| Type Of Organization Trust | X | TypeOfOrganizationTrust |
| Year Formation | 1995 | YearFormation |
| State Legal Domicile | IL | StateLegalDomicile |
| Activity Or Mission Description | 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. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 4 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 2 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 750000 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 1372070 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 2124143 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 154967 | InvestmentIncomePriorYear |
| Investment Income Current Year | -447909 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 25022 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 2277037 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1701256 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 65000 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 65000 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 3630 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1312216 | OtherExpensePriorYear |
| Other Expenses Current Year | 1144012 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1377216 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1209012 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 899821 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 492244 | RevenuesLessExpensesCY |
| Total Assets BOY | 20942882 | TotalAssetsBOY |
| Total Assets EOY | 21314589 | TotalAssetsEOY |
| Total Liabilities BOY | 13961391 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 14132935 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 6981491 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 7181654 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | SEE SCHEDULE O | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 843919 | Expense |
| Revenue | 253954 | Revenue |
| Description | SEE SCHEDULE O | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 45814 | Expense |
| Revenue | 1787397 | Revenue |
| Description | SEE SCHEDULE O | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 44205 | Expense |
| Revenue | 82792 | Revenue |
| Description | SEE SCHEDULE O | Description |
Activity Other ActivityOther (2 entries)
| DescriptionDescription |
|---|
| DEPOSIT REFERRAL SOURCES FOR CDFIS - DURING 2011, 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. |
| ADVOCACY - NCIF HAS BEEN AN ADVOCATE FOR THE COMMUNITY DEVELOPMENT BANKING AND FINANCE INDUSTRY VIA TRADE ASSOCIATIONS (THE CDFI COALITION, THE NMTC COALITION), AND WITH INVESTORS (SRI IN THE ROCKIES, GLOBAL IMPACT INVESTING NETWORK). WE BELIEVE THAT THIS WORK HAS INCREASED THE PROFILE OF THE INDUSTRY, RESULTING IN THE FLOW OF CAPITAL AND OTHER RESOURCES OF FUNDING FOR THE SECTOR. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 933938 | TotalProgramServiceExpense |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 1 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 0 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Info In Schedule O Part V | X | InfoInScheduleOPartV |
| Number Forms Transmitted With1096 | 26 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 4 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 2 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | IL | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WESTON MAHER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3128815882 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 S LASALLE STREET SUITE 2040 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60603 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (6 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|
| DAVID MCGRADY | ||||||
| CHAIRMAN | 3.00 | X | 20000 | 0 | 0 | |
| CARLTON JENKINS | ||||||
| TRUSTEE | 2.00 | X | 15000 | 0 | 0 | |
| MARY TINGERTHAL | ||||||
| TRUSTEE | 2.00 | X | 15000 | 0 | 0 | |
| CHARLES VAN LOAN | ||||||
| TRUSTEE | 2.00 | X | 15000 | 0 | 0 | |
| SAURABH NARAIN | ||||||
| CHIEF EXECUTIVE | 40.00 | 0 | 0 | 0 | X | |
| WESTON MAHER | ||||||
| VICE PRESIDENT OPERATIONS AND CONTROL | 40.00 | 0 | 0 | 0 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 65000 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| NMTC FEE INCOME | 525990 | 1787397 | 1787397 |
| INCOME FROM INVESTMENT | 900099 | 189381 | 189381 |
| CONFERENCE SPONSORSHIP | 900099 | 82792 | 82792 |
| INTEREST ON LOANS | 522291 | 41281 | 41281 |
| INTEREST ON CDS | 900099 | 18252 | 18252 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 5040 | TotalRevenueColumn |
| Related Or Exempt Function Income | 5040 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 2124143 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 50488 | TotalRevenueColumn |
| Exclusion | $50,488 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 22400 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 22400 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 22400 | TotalRevenueColumn |
| Exclusion | $22,400 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 46040 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 544437 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -498397 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -498397 | TotalRevenueColumn |
| Exclusion | -$498,397 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OTHER INCOME | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 2622 | TotalRevenueColumn |
| Exclusion | $2,622 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 2622 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1701256 | TotalRevenueColumn |
| Related Or Exempt Function Income | 2124143 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | -$422,887 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 65000 | Total |
| Management And General | 65000 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25754 | Total |
| Management And General | 25754 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 28000 | Total |
| Management And General | 28000 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 110950 | Total |
| Program Services | 67950 | ProgramServices |
| Management And General | 43000 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 49866 | Total |
| Program Services | 37399 | ProgramServices |
| Management And General | 12467 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 69309 | Total |
| Program Services | 43432 | ProgramServices |
| Management And General | 25877 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 171750 | Total |
| Program Services | 171750 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2807 | Total |
| Management And General | 2807 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 37674 | Total |
| Program Services | 7535 | ProgramServices |
| Management And General | 30139 | ManagementAndGeneral |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| PERSONNEL - PEO | 525429 | 483399 | 38400 | 3630 |
| MEMBERSHIP DUES AND FEE | 30310 | 30310 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 92163 | Total |
| Program Services | 92163 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1209012 | Total |
| Program Services | 933938 | ProgramServices |
| Management And General | 271444 | ManagementAndGeneral |
| Fundraising | 3630 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 3119329 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3629551 | BOY |
| EOY | 72814 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 106559 | BOY |
| EOY | 33803 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1451036 | BOY |
| EOY | 1299963 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33705 | BOY |
| EOY | 39289 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 19946 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 2936 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7616 | BOY |
| EOY | 17010 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2627011 | BOY |
| EOY | 1699338 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13032379 | BOY |
| EOY | 14985227 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55025 | BOY |
| EOY | 47816 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20942882 | BOY |
| EOY | 21314589 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 184411 | BOY |
| EOY | 279580 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13776980 | BOY |
| EOY | 13853355 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13961391 | BOY |
| EOY | 14132935 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3418956 | BOY |
| EOY | 4335494 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3562535 | BOY |
| EOY | 2846160 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6981491 | BOY |
| EOY | 7181654 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20942882 | BOY |
| EOY | 21314589 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 492244 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -292081 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule D IRS990ScheduleD
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7745 | OtherCostOrOtherBasis |
| Depreciation | 1678 | Depreciation |
| Book Value | 6067 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 12201 | OtherCostOrOtherBasis |
| Depreciation | 1258 | Depreciation |
| Book Value | 10943 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 17010 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| EQUITY INVESTMENTS IN CDFIS | 12158033 | C |
| INVESTMENT IN NCIF CAPITAL, LLC | 9339 | C |
| CERTIFICATES OF DEPOSIT | 2817855 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 14985227 | TotalOfBookValueProgramRelated |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| DAVID MCGRADY | |||
| BOARD CHAIRMAN | 0 | NCIF INVESTMENT - NCIF MADE A FOLLOW-ON EQUITY INVESTMENT IN CFBANC CORPORATION DURING 2010 AS PART OF A PORTFOLIO PURCHASED FROM AN INSTITUTIONAL INVESTOR. THE CHAIRMAN OF THE BOARD, DAVID MCGRADY, IS ALSO THE VICE CHAIRMAN AT CFBANC CORPORATION. | 0 |
| CARLTON JENKINS | |||
| BOARD TRUSTEE | 0 | NCIF INVESTMENT - NCIF PURCHASED PREFERRED EQUITY IN ONEUNITED BANK DURING 2011. THIS STOCK WAS ORIGINALLY PART OF THE PORTFOLIO PURCHASED IN 2010. HOWEVER, THE INVESTOR ONLY DECIDED TO SELL THIS PIECE IN 2011. ONE OF THE BOARD TRUSTEES, CARLTON JENKINS, OWNS COMMON STOCK IN ONEUNITED BANK. | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (11 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| ORGANIZATION MISSION STATEMENT | FORM 990, PART III, LINE 1, MISSION STATEMENT: | NATIONAL COMMUNITY INVESTMENT FUND (NCIF) IS AN INDEPENDENT NON-PROFIT TRUST FUND WITH $21.3 MILLION IN TOTAL ASSETS AND $128 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 12/31/2011, NCIF'S PORTFOLIO CONSISTS OF PROGRAM-RELATED INVESTMENTS OF $13.46 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. EXPENSE $843,919 REVENUE $253,954 |
| 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 $128 MILLION IN NMTC ALLOCATIONS ACROSS THE 2003, 2008 AND 2009 PROGRAM YEARS. AS OF DECEMBER 31, 2011, NCIF HAS CLOSED SIX DEALS UTILIZING OVER $87 MILLION IN ALLOCATION. NICF DOES NOT ALLOCATE HUMAN CAPITAL EXPENSES INTO NMTC AND OTHER BUSINESS LINES. APART FROM DIRECT EXPENSES, ALL OTHER EXPENSES ARE BOOKED IN 4(A). EXPENSE $45,814 REVENUE $1,787,397 |
| 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 2011 CONFERENCE WAS ATTENDED BY APPROXIMATELY 160 INDIVIDUALS, INCLUDING CHIEF EXECUTIVE OFFICERS AND SENIOR STAFF MEMBERS FROM OVER 50 BANKS, THRIFTS AND CREDIT UNIONS. THE THEME OF THE EVENT WAS "MISSION AND PROFIT--RAISING THE BAR" 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. EXPENSE $44,205 REVENUE $82,792 |
| 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 VICE PRESIDENT 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 KEY EMPLOYEES 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. | |
| FORM 990, PART XI, LINE 5, CHANGES IN NET ASSETS: | NET UNREALIZED GAINS ON INVESTMENTS 408,121 INTEREST ON AMORTIZATION OF DISCOUNT -716,375 RECOVERY OF LOAN LOSSES 16,173 TOTAL TO FORM 990, PART XI, LINE 5: -292,081 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NCIF MANAGEMENT LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 S LASALLE SUITE 2040 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60603 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 273626124 | EIN |
| Primary Activities | PROVIDE INVESTMENT ADVISORY, ADMINISTRATIVE AND MANAGEMENT SERVICES | PrimaryActivities |
| Legal Domicile State | IL | LegalDomicileState |
| Total Income | 22400 | TotalIncome |
| EOY Assets | 280489 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NATIONAL COMMUNITY INVESTMENT FUND | BusinessNameLine1 |
Form990 Schedule R Part III Form990ScheduleRPartIII (6 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Direct Controlling Entity NADirectControllingEntityNA |
|---|---|---|---|---|---|---|---|
| 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 |
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NCIF CAPITAL LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 S LASALLE STREET SUITE 2040 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60603 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 161645178 | EIN |
| Primary Activity | MANAGE CDES | PrimaryActivity |
| Legal Domicile State | IL | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NATIONAL COMMUNITY INVESTMENT FUND | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C | TypeOfEntity |
| Share Of Total Income | 100 | ShareOfTotalIncome |
| Share Of EOY Assets | 100 | ShareOfEOYAssets |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 1 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |