2012-08-14T08:50:13-05:00 2011-12-31 362938874 OSTROW REISIN BERK & ABRAMS LTD 455 N CITYFRONT PLAZA DRIVE SUITE 1 CHICAGO IL 606115313 990 2011-01-01 367120987 NATIONAL COMMUNITY INVESTMENT FUND NATI 3128815826 135 N LASALLE STREET NO 2040 CHICAGO IL 60603 SAURABH NARAIN 3128815826 2012-07-26 1 JAMES G QUAID P00641738 3126707444 2011 2016-02-24 21:20:13Z SAURABH NARAIN 135 N LASALLE STREET NO 2040 CHICAGO IL 60603 2245693 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 750000 0 1372070 2124143 154967 -447909 0 25022 2277037 1701256 0 0 0 0 65000 65000 0 0 3630 1312216 1144012 1377216 1209012 899821 492244 20942882 21314589 13961391 14132935 6981491 7181654 X SEE SCHEDULE O 0 0 843919 253954 SEE SCHEDULE O 45814 1787397 SEE SCHEDULE O 44205 82792 SEE SCHEDULE O 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. 933938 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 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 26 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 WESTON MAHER 3128815882 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 DAVID MCGRADY 3.00 X 20000 0 0 CARLTON JENKINS 2.00 X 15000 0 0 MARY TINGERTHAL 2.00 X 15000 0 0 CHARLES VAN LOAN 2.00 X 15000 0 0 SAURABH NARAIN 40.00 X 0 0 0 WESTON MAHER 40.00 X 0 0 0 65000 0 0 0 0 0 0 0 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 5040 5040 2124143 50488 50488 22400 0 22400 22400 22400 46040 544437 -498397 -498397 -498397 OTHER INCOME 900099 2622 2622 2622 1701256 2124143 0 -422887 65000 65000 25754 25754 28000 28000 110950 67950 43000 49866 37399 12467 69309 43432 25877 171750 171750 2807 2807 37674 7535 30139 PERSONNEL - PEO 525429 483399 38400 3630 MEMBERSHIP DUES AND FEE 30310 30310 92163 92163 1209012 933938 271444 3630 0 3119329 3629551 72814 106559 33803 1451036 1299963 33705 39289 19946 2936 7616 17010 2627011 1699338 13032379 14985227 55025 47816 20942882 21314589 184411 279580 13776980 13853355 13961391 14132935 X 3418956 4335494 3562535 2846160 6981491 7181654 20942882 21314589 X 492244 -292081 X 0 1 1 X 1 1 7745 1678 6067 12201 1258 10943 17010 EQUITY INVESTMENTS IN CDFIS 12158033 C INVESTMENT IN NCIF CAPITAL, LLC 9339 C CERTIFICATES OF DEPOSIT 2817855 C 14985227 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 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 NCIF MANAGEMENT LLC 135 S LASALLE SUITE 2040 CHICAGO IL 60603 273626124 PROVIDE INVESTMENT ADVISORY, ADMINISTRATIVE AND MANAGEMENT SERVICES IL 22400 280489 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 CAPITAL LLC 135 S LASALLE STREET SUITE 2040 CHICAGO IL 60603 161645178 MANAGE CDES IL NATIONAL COMMUNITY INVESTMENT FUND C 100 100 1.00000 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0