2011-11-15T13:29:44-06:00 2010-12-31 MBAF-ERE CPAS LLC 400 COLUMBUS AVEELOBBY 2ND FL VALHALLA NY 10595 990 2010-01-01 133154100 LEVITICUS 2523 ALTERNATIVE FUND INC LEVI 9146069003 33 W MAIN STREET NO 205 ELMSFORD NY 10523 DAVID C RAYNOR 9146069003 2011-09-19 1 9147410800 2010 2016-03-07 17:11:31Z DAVID C RAYNOR 33 W MAIN STREET NO 205 ELMSFORD NY 10523 672168 0 X WWW.LEVITICUSFUND.ORG X 1983 NY PROVIDE LOANS TO ECONOMICALLY DISADVANTAGED. 13 13 4 27 0 0 2158782 193693 123401 388468 70753 66073 42544 23934 2395480 672168 0 0 0 0 381623 390098 0 0 19010 200139 332577 581762 722675 1813718 -50507 15713862 15463773 11510797 11311153 4203065 4152620 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 631424 PROMOTE ACTIVITIES AIMED AT MEETING THE BASIC HUMAN NEEDS OF THE ECONOMICALLY DISADVANTAGED. LOANS ARE MADE TO QUALIFIED APPLICANTS TO FINANCE PROJECTS. 2010 NEW LENDING ACTIVITY WAS AS FOLLOWS: 6 LOANS TOTALING $1,367,029 TO NOT-FOR-PROFIT HOUSING ORGANIZATIONS, PARTIALLY FINANCING 12 UNITS OF AFFORDABLE HOUSING; 2 LOANS FOR $197,000 FOR THE DEVELOPMENT OF A SOCIAL SERVICE FACILITY AND A CHILD CARE CENTER SERVING 90 CHILDREN WITH LOW-INCOME FAMILIES. 631424 1 1 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 0 1 27 0 4 1 0 0 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 NY X X DAVID RAYNOR 9146069003 33 W MAIN STREET ROOM 205 ELMSFORD NY 10523 MS SONDRA FORD X 0 0 0 MR JOHN WILSON X 0 0 0 MS LINDA HINCKEN X 0 0 0 SR MARY HEYSER X 0 0 0 MR JOSEPH H CRUICKSHAN X 0 0 0 SR ALICA V FEELEY RDC X 0 0 0 MR SALVATORE DEL BENE X 0 0 0 SR ELIZABETH HASSELT OP X 0 0 0 MR DERRICK A LOVETT X 0 0 0 SR KATHLEEN PHELAN OP CFRE X 0 0 0 MS CATHERINE ROWAN X 0 0 0 MR RICHARD O'BRIEN X 0 0 0 MR JUSTIN TOWEY X 0 0 0 MR DAVID RAYNOR 40.00 X 98400 0 0 98400 0 0 0 0 0 0 0 193693 193693 INTEREST PROJECT LOANS 900099 667018 667018 LESS:INTEREST COST 900099 -278550 -278550 388468 66073 66073 COMMITMENT/CLOSING FEE 900099 23934 23934 23934 672168 412402 0 66073 98400 84624 9840 3936 183372 157701 18337 7334 51391 44196 5139 2056 56935 48964 5694 2277 6755 6080 675 14861 12781 1486 594 42994 36975 4299 1720 10828 10828 7711 4436 3275 7960 7960 1278 1099 128 51 PROVISION FOR DOUBTFULL 121441 121441 STIPENDS 63315 55717 7598 0 PROFESSIONAL FEES 39948 25966 13982 0 TELEPHONE 5870 5049 587 234 DUES AND SUBSCRIPTIONS 3415 3415 0 0 6201 4192 1876 133 722675 631424 72241 19010 203682 204825 10571994 9745956 63611 31821 24362 31790 4787488 5379484 126336 101718 15713862 15463773 25000 31019 11448182 11237835 37615 42299 11510797 11311153 X 3874800 3590685 328265 561935 4203065 4152620 15713862 15463773 X -50507 62 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 41469 24797 16672 22142 7024 15118 31790 SECURITIES AND OTHER INVESTMENTS 5379484 F 5379484 INTEREST PAYABLE 36048 DEFERRED RENT 703 DEFERRED REVENUE 5548 42299 672168 722675 -50507 62 62 -50445 672230 62 62 672168 0 672168 722675 0 722675 0 722675 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION ADOPTED 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. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 62. FORM 990, PART XI, LINE 2C THERE ARE NO CHANGES IN POLICY OR PROCEDURES TO REVIEW THE WORK OF INDEPENDENT AUDITORS FROM PRIOR YEAR.