2023-11-08T16:31:38-06:00 2023-06-30 202153727 SB AND COMPANY LLC 10200 GRAND CENTRAL AVENUE SUITE 250 OWINGS MILLS MD 21117 990 2022-07-01 832643429 NEIGHBORHOOD IMPACT INVESTMENT FUND INC NEIG 4102183437 1040 PARK AVENUE 310 BALTIMORE MD 21201 MARK KAUFMAN PRESIDENT AND CEO 4102183437 2023-11-07 1 MARK KAUFMAN 999009999 0 TIANA WYNN P00997288 4105840060 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARK KAUFMAN 1040 PARK AVENUE 310 BALTIMORE MD 21201 3569338 0 X HTTPS://WWW.BALTIMORENIIF.ORG/ X 2018 MD DELIVER CAPITAL AND PROMOTE EQUITABLE GROWTH IN BALTIMORE'S DISINVESTED NEIGHBORHOODS. 13 13 8 14 0 0 2661743 2155640 126519 131978 663497 1264400 0 17320 3451759 3569338 0 100000 0 0 486625 562699 0 0 49536 889510 1592948 1376135 2255647 2075624 1313691 56038192 57985292 51771716 51768703 4266476 6216589 NEIGHBORHOOD IMPACT INVESTMENT FUND, INC. (NIIF) IS A MISSION-DRIVEN INVESTMENT FUND DEDICATED TO DELIVERING CAPITAL AND PROMOTING INCLUSIVE, EQUITABLE GROWTH IN BALTIMORE'S HISTORICALLY DISINVESTED NEIGHBORHOODS. 0 0 1739593 100000 131978 NIIF IS A NON-PROFIT ORGANIZATION CREATED TO DELIVER CAPITAL TO, AND TO PROMOTE EQUITABLE GROWTH IN, HISTORICALLY DISINVESTED NEIGHBORHOODS IN BALTIMORE. INITIALLY CAPITALIZED WITH A LONG-TERM, SUBORDINATE LOAN FROM THE CITY OF BALTIMORE, NIIF IS AN INDEPENDENT ORGANIZATION THAT WORKS IN ALIGNMENT WITH THE CITY'S NEIGHBORHOOD FOCUS AND COMMUNITY DEVELOPMENT GOALS. NIIF SUPPORTS COMMUNITIES THROUGH LOANS AND INVESTMENTS THAT CAN ACCELERATE COMMUNITY REVITALIZATION, CATALYZE BUSINESS ACTIVITY AND PROVIDE GREATER OPPORTUNITIES FOR RESIDENTS. 1739593 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 8 1 0 0 0 0 0 0 0 0 0 0 X 13 13 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X MARK KAUFMAN 4102183437 1040 PARK AVENUE SUITE 310 BALTIMORE MD 21201 ARNOLD WILLIAMS CHAIRMAN 2.00 X X 0 0 0 JOHN HAMILTON TREASURER/GOVERNANCE CHAIR 2.00 X X 0 0 0 JOYCE MOSKOVITZ SECRETARY 2.00 X X 0 0 0 MARY JOHN MILLER AUDIT CHAIR 2.00 X X 0 0 0 ERNST VALERY DIVERSITY, EQUITY AND INCLUSION CHAIR 1.00 X 0 0 0 MARC BROADY MEMBER 1.00 X 0 0 0 SONJA WELLS MEMBER 1.00 X 0 0 0 AUGIE CHIASERA MEMBER 1.00 X 0 0 0 JALAL JAY GREENE MEMBER 1.00 X 0 0 0 COLIN TARBERT MEMBER 1.00 X 0 0 0 PAUL TAYLOR MEMBER 1.00 X 0 0 0 RODNEY BOYD LEFT IN MARCH 2022 MEMBER 1.00 X 0 0 0 FAGAN HARRIS LEFT IN JANUARY 2023 MEMBER 1.00 X 0 0 0 DANA JOHNSON LEFT IN MARCH 2023 INVESTMENT CHAIR 2.00 X X 0 0 0 LINDA SORDEN STARTED MARCH 2023 MEMBER 1.00 X 0 0 0 FT BURDEN STARTED MARCH 2023 MEMBER 1.00 X 0 0 0 MARK A KAUFMAN PRESIDENT AND CHIEF EXECUTIVE OFFICER 40.00 X 155042 0 2929 LORI M GLASS CHIEF LENDING OFFICER (TERM 11/22) 40.00 X 118768 0 13042 PATTI CHANDLER CHIEF FINANCIAL OFFICER (STARTED BOARD APPROVED CF 12.00 X 37200 0 0 311010 0 15971 2 0 1 0 FORSYTH STREET ASSET MANAGEMENT LLC 588 BROADWAY SUITE 1208 NEW YORK NY 10012 FINANCIAL ADVISORS: FUND MANAGEMENT, LOA 364250 1 2155640 2155640 ORIGINATION FEE 561499 131978 131978 131978 1264400 1264400 COMMITTMENT FEE 900099 11250 11250 OTHER REVENUE 900099 6070 6070 17320 3569338 149298 0 1264400 100000 100000 298482 183633 89651 25198 199965 125693 57395 16877 2112 1547 428 137 22565 18010 3086 1469 39575 25412 10967 3196 18729 15207 3522 431633 300000 131633 3502 3502 179786 98027 81759 16493 682 15811 6012 397 5615 19958 12711 7242 5 412 211 201 32672 32672 24407 14937 6816 2654 PROVISION FOR LOAN LOSS 763419 763419 LOAN SERVICING FEES 76467 76467 SENIOR SECURED UNUSED F 9528 9528 TRAINING AND PROFESSION 2864 2682 182 7066 558 6508 2255647 1739593 466518 49536 3247638 1670529 988265 13982098 21576928 23806 50956 38708793 33655428 75857 43186 56038192 57985292 71716 68703 51700000 51700000 51771716 51768703 X 4259976 4661949 6500 1554640 4266476 6216589 56038192 57985292 1313691 636422 0 X X 0 1 X 1 0 X 1 94513 2661743 2155640 4911897 198563 80587 126519 131978 537647 198564 175100 2788262 2287618 5449544 0 0 0 5449544 436880 1001073 683073 663497 1264399 4048922 436880 1001073 683073 663497 1264399 4048922 1000 23 1023 437880 1199637 858196 3451759 3552017 9499489 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 4208658 636422 6400 642822 3565836 3502 3502 3569338 2258545 6400 6400 2252145 3502 3502 2255647 PART X, LINE 2: NIIF IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE AND IS RECOGNIZED AS SUCH BY THE INTERNAL REVENUE SERVICE. THE PROVISIONS INCLUDED IN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. NIIF PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR WHICH MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2023, THE STATUTE OF LIMITATIONS FOR FISCAL YEARS 2020 THROUGH 2023, REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION TAX RETURNS. 1 TREND WALLBROOK JUNCTION INVESTORS LLC 30 WEST MONROE STREET SUITE 510 CHICAGO IL 60603 854397318 100000 0 SECURITY SYSTEM, PROPERTY UPDATES PART I, LINE 2: GRANT WRITING -MANAGEMENT WILL ASSIGN ONE INDIVIDUAL RESPONSIBLE FOR PROPOSAL DEVELOPMENT AND SUBMISSION. THE GRANT AMOUNT WILL DETERMINE THE REVIEW AND APPROVAL PROCESS: -FOR GRANT AMOUNTS UNDER $500,000, THE CEO WILL BE RESPONSIBLE FOR REVIEW AND APPROVAL OF THE APPLICATION PRIOR TO SUBMISSION, WITH NOTIFICATION TO THE DIVERSITY EQUITY AND INCLUSION COMMITTEE ("DEI COMMITTEE"). -FOR GRANT AMOUNTS $500,000 AND UP TO $1,499,999 THE DEI COMMITTEE WILL BE RESPONSIBLE FOR REVIEW AND APPROVAL OF THE APPLICATION PRIOR TO SUBMISSION, WITH NOTIFICATION TO THE BOARD. -FOR GRANT AMOUNTS $1,500,000 AND ABOVE THE BOARD WILL BE RESPONSIBLE FOR REVIEW AND APPROVAL OF THE APPLICATION PRIOR TO SUBMISSION. -SHOULD THE GRANTOR REQUIRE BOARD APPROVAL, THE BOARD WILL REVIEW AND APPROVE THE APPLICATION PRIOR TO SUBMISSION. GRANT MANAGEMENT -MANAGEMENT WILL ASSIGN ONE INDIVIDUAL RESPONSIBLE FOR OVERSEEING GRANT COMPLIANCE, BEGINNING WITH MANAGING THE GRANT ACCEPTANCE PROCESS THROUGH GRANT CLOSEOUT, SHOULD THE GRANTOR REQUIRE BOARD APPROVAL FOR THE CONTRACT OR AGREEMENT, THE INDIVIDUAL ASSIGNED TO EACH GRANT WILL PRESENT THE GRANT AGREEMENT OR CONTRACT FOR BOARD APPROVAL AND DOCUMENT APPROVAL PRIOR TO ACCEPTANCE. PROGRAM MANAGEMENT -MANAGEMENT WILL ASSIGN ONE INDIVIDUAL RESPONSIBLE FOR IMPLEMENTING THE PROGRAM FUNDED BY THE GRANT AND MEETING PROGRAM GOALS AND OUTCOMES GRANT REPORTING -MANAGEMENT WILL ASSIGN ONE INDIVIDUAL RESPONSIBLE FOR PROGRAMMATIC REPORTING GRANT ACCOUNTING -MANAGEMENT WILL ASSIGN ONE INDIVIDUAL RESPONSIBLE FOR MANAGING THE FINANCIAL ASPECT OF THE GRANT AND COMPLETING FINANCIAL REPORTING 0 0 0 0 0 0 0 0 0 MARK A KAUFMAN PRESIDENT AND CHIEF EXECUTIVE OFFICE 155042 0 0 0 0 0 2929 0 0 0 157971 0 0 0 ERNST VALERY BOARD DIRECTOR 1253965 LOAN TO ERNST VALERY INVESTMENT FUND INC. 0 PART IV LINE 1A NIIF CLOSED A CONSTRUCTION LOAN WITH DIRECTOR ERNST VALLERY (ERNST VALLERY INVESTMENTS FUND, INC.) ON JUNE 15, 2023. ERNST VALLERY IS THE PERSONAL GUARANTOR AND CORPORATE GUARANTOR. FORM 990, PART VI, SECTION A, LINE 2 NIIF BYLAWS REQUIRE THAT THAT THE FUND HAVE BOARD MEMBERS WITH SPECIFIC BACKGROUNDS, INCLUDING AT LEAST THREE DIRECTORS WITH EXPERIENCE IN REAL ESTATE FINANCE CURRENTLY, NIIF HAS MULTIPLE DIRECTORS (AUGIE CHIASERA OF M&T BANK, JOHN HAMILTON OF MECU AND SONJA WELLS OF CITY FIRST BANK) WHO SERVE AS OFFICERS OR EMPLOYEES OF LENDING ORGANIZATIONS. IN THE NORMAL COURSE, THESE REAL ESTATE FINANCE ORGANIZATIONS MAY HAVE IN THE PAST, OR MAY IN THE FUTURE, SHARE A BUSINESS RELATIONSHIP THROUGH EACH LENDING TO THE SAME COUNTERPARTY. SUCH LENDING ORGANIZATIONS MAY ALSO HAVE A DEPOSITORY RELATIONSHIP WITH DIRECTORS EITHER INDIVIDUALLY OR THE ORGANIZATION FOR WHOM THEY ARE EMPLOYED, WHICH ARE SUJECTS TO TERMS AND CONDITIONS GENERALLY AVAILABLE TO SIMILARLY SITUATED BANKING CLIENTS. IN ADDITION, THE BYLAWS REQUIRE THAT NIIF HAVE AT LEAST ONE DIRECTOR WITH EXPERIENCE IN REAL ESTATE DEVELOPMENT OR PLANNING. THE FUND HAS TWO DIRECTORS (DIRECTOR ERNST VALERY IS CO-MANAGING MEMEBER OF SAA EVI, A REAL ESTATE DEVELOPMENT FIRM AND DIRECTOR DANA JOHNSON IS CEO OF HOMES FOR AMERICA, A NON-PROFIT DEVELOPER OF AFFORDABLE HOUSING.) WHO ARE EMPLOYED BY FOR-PROFIT AND NON-PROFIT REAL ESTATE DEVELOPMENT FIRMS. THESE REAL ESTATE DEVELOPMENT FIRMS HAVE IN THE PAST AND MAY IN THE FUTURE OBTAIN AND MAY IN THE FUTURE SEEK TO OBTAIN PROJECT RELATED FINANCING FROM LENDING ORGANIZATIONS THAT EMPLOY OTHER DIRECTORS. TO THE EXTENT NIIF IS INVOLVED IN ANY SUCH TRANSACTIONS, THE RELATIONSHIP IS GOVERNED BY NIIF'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION A, LINE 7A THE MAYOR OF THE CITY OF BALTIMORE HAS THE ABILITY TO APPOINT AND REMOVE THREE DIRECTORS TO THE NIIF BOARD. SUCH DIRECTORS DO NOT CONTROL OR HAVE THE ABILITY TO VETO ANY ACTION OF THE BOARD, WHICH IS COMPRISED OF ELEVEN TO SEVENTEEN DIRECTORS, OR CONTROL ANY OF ITS STANDING COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE BOARD FOR REVIEW AND APPROVED BY THE AUDIT COMMITTEE BEFORE BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER, EMPLOYEE, AND VOLUNTEER SHALL ANNUALLY DISCLOSE ALL CONFLICTS OF INTEREST AND PREVIOUSLY UNREPORTED CONFLICTS OF INTEREST IN WRITING ON NIIF'S DISCLOSURE FORM IN ACCORDANCE WITH THIS POLICY IN THE FORM AND SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE POLICY, READ AND UNDERSTANDS THE POLICY, AND AGREED TO COMPLY WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 A COMPARABILITY STUDY IS PERFORMED TO ASSESS THE SALARIES OF OTHER EXECUTIVE DIRECTORS AND LOAN LENDING OFFICERS AT SIMILAR ORGANIZATIONS IN THE BALTIMORE AREA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.