2011-02-11T12:22:13-06:00 2010-06-30 McDONALD JACOBS PC 520 SW YAMHILL STE 500 PORTLAND OR 97204 990 2009-07-01 931037330 NETWORK FOR OREGON AFFORDABLE HOUSING NETW 5032233211 1020 SW TAYLOR STREET No 585 PORTLAND OR 97205 WILLIAM A VAN VLIET 5032233211 2011-02-09 1 Sang Ahn 5032270581 2009 2016-02-24 21:20:13Z WILLIAM A VAN VLIET 1020 SW TAYLOR STREET SUITE 585 PORTLAND OR 97205 5445740 0 X www.noah-housing.org X 1990 OR FACILITATE AFFORDABLE HOUSING 13 13 11 13 0 0 241184 272054 4761719 5162668 92074 11018 0 5094977 5445740 53000 0 766700 734865 0 19636 4031595 4192522 4798295 4980387 296682 465353 112577289 113806591 109663351 110427300 2913938 3379291 NOAH is a community development corporation, serving communities within the State of Oregon. The purposes of the corporation are to develop and implement programs to provide opportunities for community members of low and moderate income to obtain housing that is affordable and appropriate and to engage in other non-profit activities that encourage economic development within the community. 0 0 3872562 4484376 NOAH Permanent Loan Program:NOAH PROVIDES FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING IN THE STATE OF OREGON. DURING FISCAL YEAR 2009/2010, TEN (10) PERMANENT LOANS WERE CLOSED AND THE TOTAL DOLLAR VALUE OF THESE LOANS FUNDED WAS $6,873,389. 356357 53000 135549 NOAH PARTNERS WITH THE STATE OF OREGON HOUSING & COMMUNITY SERVICES DEPARTMENT TO FUND PREDEVELOPMENT LOANS. DURING FISCAL YEAR 2009-2010, FIVE (5) LOANS TOTALING $1,553,540 WERE FUNDED IN THIS PROGRAM TO PAY COSTS ASSOCIATED WITH ACQUISITION AND DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS. 322077 529824 NOAH PRESERVATION LOAN PROGRAM:NOAH MAKES LOANS THROUGH OREGON HOUSING ACQUISITION FUND (OHAF) WHICH HAS BEEN CREATED THROUGH INVESTMENTS BY THE STATE OF OREGON, SEVERAL FOUNDATIONS, AND BY THE NOAH MULTI-BANK CONSORTIA. EACH INVESTOR IN THE FUND HAS UNIQUE INVESTMENT CRITERIA AND TERMS. BY DRAWING FUNDS FROM EACH INVESTOR TO CREATE PROJECT SPECIFIC FUNDING, NOAH IS ABLE TO MIX THE STRENGTHS OF THE FUNDERS TO MEET MORE BORROWERS' NEEDS AND PROVIDE FINANCING TO PRESERVE AFFORDABLE HOUSING PROJECTS THROUGHOUT OREGON.ACCESS TO NOAH'S PRESERVATION LOANS IS LIMITED TO NON-PROFIT ORGANIZATIONS AND TO FOR-PROFIT ORGANIZATIONS THAT COMMIT TO OPERATE THE PROPERTY AS AFFORDABLE, THEREBY PROVIDING A PUBLIC BENEFIT COMPARABLE TO THAT PROVIDED BY NON-PROFITS. THESE LOANS TARGET THE ACQUISITION AND PRESERVATION OF FEDERALLY RENT-SUBSIDIZED UNITS THAT ARE AT RISK OF CONVERSION TO MARKET RATES. DURING FISCAL YEAR 2009/2010, ONE (1) OHAF LOAN WAS CLOSED AND THE TOTAL DOLLAR VALUE OF THE LOAN FUNDED WAS $1,890,500. 12919 NOAH PARTNERS WITH THE STATE OF OREGON HOUSING & COMMUNITY SERVICES DEPARTMENT TO FUND PREDEVELOPMENT LOANS. DURING FISCAL YEAR 2009-2010, FIVE (5) LOANS TOTALING $1,553,540 WERE FUNDED IN THIS PROGRAM TO PAY COSTS ASSOCIATED WITH ACQUISITION AND DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS.NOAH BOND PROGRAM:NOAH ENTERED INTO AN INNOVATIVE PARTNERSHIP WITH OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT (OHCS) TO CREATE A SMALL PROJECT CONDUIT BOND FINANCING PROGRAM. THIS PROGRAM WAS ESTABLISHED TO PROVIDE FUNDS TO FINANCE THE CONSTRUCTION, REHABILITATION AND ACQUISITION OF MULTI-UNIT HOUSING IN THE STATE OF OREGON FOR PERSONS AND FAMILIES OF LOWER INCOME; WHILE LOWERING TRANSACTION AND LEGAL COSTS. THE PROGRAM'S OBJECTIVES ARE TO PROVIDE FOR ADDITIONAL FLEXIBILITY IN THE FINANCIAL STRUCTURE NEEDED FOR CONDUIT FINANCING AND TO DEVELOP AN EFFICIENT PROCESS FOR UTILIZING THIS VALUABLE RESOURCE FOR SMALLER AND RURAL PROPERTIES. THE PROGRAM, ALTHOUGH ADMINISTERED AND UNDERWRITTEN BY NOAH, REMAINS GOVERNED BY OHCS'S OREGON REVISED STATUTES CHAPTER 456.515 - 456.725 AND DIVISION 35 OF THE STATE'S OREGON ADMINISTRATIVE RULES. OHCS USES THEIR ANNUAL BOND ALLOCATION AUTHORITY TO SELL BONDS TO FINANCE AFFORDABLE HOUSING FOR LOWER INCOME OREGONIANS. THE FUNDS ARE GOVERNED BY THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. DURING FISCAL YEAR 2009-2010, ONE (1) BOND TRANSACTION WAS CLOSED AND THE DOLLAR AMOUNT OF THE LOAN WAS $3,291,546. NOAH ADMINISTERS THE OREGON HOUSING ACQUISITION PROGRAM. 12919 4550996 1 1 0 0 0 0 0 1 0 1 1 0 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 1 7 0 1 11 1 0 0 0 0 0 0 0 0 0 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR X X WILLIAM A VAN VLIET 5032233211 1020 SW TAYLOR STREET SUITE 585 PORTLAND OR 97205 DAVE CASTrICANO 0.50 X 0 0 0 CHARLOTTE BOXER 0.50 X 0 0 0 JOHN VAN LANDINGHAM 0.50 X X 0 0 0 JOHN EPSTEIN 0.50 X 0 0 0 DEAN GISVOLD 0.50 X 0 0 0 PETER HAINLEY 0.50 X 0 0 0 ANN LININGER 0.50 X 0 0 0 TERRY MORRISON 0.50 X X 0 0 0 LYNN SCHOESSLER 0.50 X 0 0 0 BARBARA B SMITH 0.50 X X 0 0 0 BRIAN STEWART 0.50 X 0 0 0 JAMES WALKER 0.50 X 0 0 0 JAN LASKEY 0.50 X 0 0 0 FRANCES JOHNSTON 0.50 X 0 0 0 WILLIAM A VAN VLIET 40.00 X 142708 0 17650 JONI-MARIE A HARTMANN 40.00 X 121772 0 13501 264480 0 31151 2 0 1 0 US BANK 110 SW FIFTH AVENUE PORTLAND OR 97204 BANKING SERVICES 110890 1 272054 272054 MORTGAGE INTEREST 531390 5147510 5147510 TAX-EXEMPT BOND PROGRA 531390 12919 12919 LOAN AND COMMITMENT FE 531390 2239 2239 5162668 11018 11018 5445740 5162668 0 11018 53000 53000 298810 168321 128721 1768 309724 174469 131855 3400 10150 5718 4432 50770 28599 22171 65411 36846 28565 13187 11977 1210 77345 55081 22264 71450 52239 4743 14468 12355 6919 5436 54867 40861 14006 49241 27575 21666 22612 12663 9949 890 890 3674413 3674413 10494 5877 4617 23000 12880 10120 FEES TO AGENT BANKS 112157 112157 PROVISION FOR LOAN LOSS 64573 64573 lOAN SERVICING 5401 5401 REGULATORY FEES 537 537 4980387 4550996 409755 19636 975883 1004637 6513385 12594967 104737036 99863683 305974 307740 93466 57902 45011 35564 112577289 113806591 499694 581702 1369006 2710000 898422 947439 4000000 4000000 98354355 97647559 4500000 4500000 41874 40600 109663351 110427300 X 2913938 3379291 2913938 3379291 112577289 113806591 X 0 1 1 X 0 X 339250 539243 90689 241184 272054 1482420 3307451 3756820 4259016 4792538 5162665 21278490 3646701 4296063 4349705 5033722 5434719 22760910 20000 20000 20000 222296 209442 491738 0 20000 20000 20000 222296 209442 491738 22269172 66086 97094 96858 61255 11018 332311 66086 97094 96858 61255 11018 332311 3712787 4393157 4446563 5094977 5445737 23093221 0.96430 0.98020 0.01440 0.01650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 898422 898422 0 67776 32212 35564 25690 25690 0 35564 CUSTOMER DEPOSITS 40600 40600 5445740 4980387 465353 0 465353 1706754 0 1706754 3738986 3738986 5445740 1241401 0 1241401 3738986 3738986 4980387 Part IV, Line 1b: CUSTOMER ESCROW ACCOUNTS Part XII, Line 4b - Other Adjustments: INTEREST EXPENSE NETTED AGAINST REVENUES PROVISION FOR LOAN LOSS NETTED AGAINST REVENUES Part XIII, Line 4b - Other Adjustments: INTEREST EXPENSE NETTED AGAINST REVENUES PROVISION FOR LOAN LOSS NETTED AGAINST REVENUES 1 COTTONWOOD I RENEWAL LLC 2316 SE WILLARD STREET MILWAUKIE OR 97222 263775450 11000 REPLACE WINDOWS WITH ENERGY EFFICIENT VINYL WINDOWS COTTONWOOD II RENEWAL LLC 2316 SE WILLARD STREET MILWAUKIE OR 97222 263777801 12000 REPLACE WINDOWS WITH ENERGY EFFICIENT VINYL WINDOWS ROSELYN RENEWAL LLC 2316 SE WILLARD STREET MILWAUKIE OR 97222 263778073 12000 HVAC SYSTEM TO IMPROVE AIR QUALITY REACH COMMUNITY DEVELOPMENT INC 1135 SE SALMON STREET PORTLAND OR 97214 930813981 501(C)(3) 15000 ENERGY START LIGHTING AT WALNUT PARK PROJECT 1 3 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: PURSUANT TO THE TERMS OF A MEMORANDUM OF UNDERSTANDING DATED MAY 1, 2009 ("MOU"), NOAH PROVIDES FUNDING FOR THE GREEN PILOT PROGRAM INITIATIVE. THE MOU DESCRIBES THE PURPOSES FOR WHICH FUNDS MAY BE GRANTED AND OUTLINES PROCESS. FORMAL APPLICATION AND DRAW REQUEST FORMS DOCUMENT QUALIFIED EXPENSES. X 0 0 0 0 0 0 0 0 0 WILLIAM A VAN VLIET 122708 0 20000 0 0 0 11405 0 6245 0 160358 0 0 0 MEYER MEMORIAL TRUST to capitalize noah's oregon housing acquistition fund X 4000000 4000000 0 1 1 4000000 Form 990, Part VI, Section B, line 11 Review of Form 990. Each member of the Board of Directors shall be provided a copy of NOAH's Form 990 for review before it is filed with the IRS. The Audit Committee shall conduct a review of the Form 990 and shall report to the Board in a timely fashion the results of its review of the Form 990. The Board shall take any additional action that it feels appropriate. Form 990, Part VI, Section B, line 12c 1. ON AN ANNUAL BASIS, THE SECRETARY OF THE CORPORATION OR THE SECRETARY'S DESIGNEE SHALL DEVELOP AND MAINTAIN A LIST OF INSIDERS WHO ENGAGE IN OR ARE REASONABLY LIKELY TO ENGAGE IN TRANSACTIONS THAT CONSTITUTE CONFLICTS OF INTEREST WITH THE CORPORATION DURING THE YEAR. 2. THE OFFICERS, DIRECTORS AND KEY EMPLOYEES SHALL EACH YEAR DISCLOSE INTERESTS THAT COULD GIVE RISE TO A CONFLICT OF INTEREST UNDER THIS POLICY. SUCH DISCLOSURE SHALL BE MADE ON A DISCLOSURE AND ACKNOWLEDGMENT FORM SIMILAR TO THE ONE ATTACHED TO THIS POLICY AND SHALL BE FILED WITH THE SECRETARY OR THE SECRETARY'S DESIGNEE. 3. THE SECRETARY OR THE SECRETARY'S DESIGNEE SHALL MONITOR AND ENFORCE COMPLIANCE WITH THIS POLICY BY REVIEWING THE LIST OF INSIDERS AND THE DISCLOSURE AND ACKNOWLEDGMENT FORMS EACH YEAR AND BY BRINGING POTENTIAL OR ACTUAL CONFLICTS TO THE ATTENTION OF THE PRESIDENT OF THE BOARD. THE PRESIDENT SHALL DISCLOSE CONFLICTS TO THE BOARD AS THEY ARISE AND ENSURE THAT THE PROCEDURES IN THIS POLICY ARE FOLLOWED. 4. THE SECRETARY OR THE SECRETARY'S DESIGNEE SHALL CONVEY THE LIST OF INSIDERS IDENTIFIED ABOVE TO THE EXECUTIVE DIRECTOR AND SHALL INSTRUCT THE EXECUTIVE DIRECTOR TO NOTIFY THE BOARD IF THE EXECUTIVE DIRECTOR OR ANY EMPLOYEE PLANS TO ENGAGE IN A TRANSACTION WITH AN INSIDER THAT CONSTITUTES A CONFLICT OF INTEREST, INCLUDING PAYMENT OR REIMBURSEMENT FOR BUSINESS OR TRAVEL EXPENSES OF THE INSIDER AND/OR MEMBERS OF THE INSIDER'S FAMILY NOT MADE PURSUANT TO AN ACCOUNTABLE PLAN UNDER IRS REG. 1.62-2(C)(2). IF SO, THE BOARD SHALL MONITOR THE TRANSACTION TO ENSURE THAT IT COMPLIES WITH THE PROCEDURE IN SECTION 2 ABOVE. Form 990, Part VI, Section B, line 15 NOAH'S EXECUTIVE COMMITTEE, ACTING WITH AUTHORITY DELEGATED BY THE FULL BOARD, ESTABLISHES COMPENSATION LEVELS FOR ALL EMPLOYEES ANNUALLY. THE EXECUTIVE DIRECTOR MAKES INITIAL RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE, WHICH THEN DELIBERATES AND MAKES FINAL COMPENSATION DECISIONS. NOAH OPERATES SIMILARLY TO A COMMERCIAL REAL ESTATE LENDING DIVISION OF A COMMERCIAL BANK, AND NOAH'S EXECUTIVE COMMITTEE INCLUDES SEVERAL SENIOR MANAGERS OF SIMILAR LENDING DIVISIONS OF COMMERCIAL BANKS. THESE DIRECTORS BRING EXTENSIVE EXPERIENCE AND KNOWLEDGE OF COMPENSATION LEVELS FOR POSITIONS OF COMPARABLE RESPONSIBILITY. THIS PROCESS HAS BEEN USED SINCE AT LEAST 1999. Form 990, Part VI, Section C, line 19 NOAH shall make its Articles of Incorporation, any amendments or restatements to the Articles, and its most recent three years of the Form 990 available to the public for inspection and copying upon request. NOAH does not have to disclose the name and address of any contributor to the organization. NOAH has determined that it is not in the best interest of NOAH to make any additional documents or information available to the public. The documents described above shall be available for inspection upon request at the NOAH office during regular business hours. FORM 990, PART XI, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.