2024-06-05T08:58:56-05:00 2023-12-31 943108253 NOVOGRADAC & COMPANY LLP 5 GREAT VALLEY PARKWAY SUITE 319 MALVERN PA 19355 990 2023-01-01 262335395 CITY FIRST HOMES INC CITY 2027454490 1701 RHODE ISLAND AVE NW 3-103 WASHINGTON DC 20036 OSWALDO ACOSTA PRESIDENT & CEO 2027454490 2024-06-04 1 OSWALDO ACOSTA 999009999 0 DAYLE R DALLING P01695822 6102324810 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z X HOMES BY CFE OSWALDO ACOSTA 1701 RHODE ISLAND AVE NW STE 3-103 WASHINGTON DC 20036 72969 0 X HOMESBYCFE.ORG X 2007 DC CITY FIRST HOMES (DBA HOMES BY CFE) INCREASES HOMEOWNERSHIP FOR LOW- TO MODERATE-INCOME HOUSEHOLDS, STRENGTHENING DISINVESTED COMMUNITIES AND HELPING TO BUILD GENERATIONAL WEALTH AND OPPORTUNITY. 10 9 0 0 0 0 477000 0 0 0 2665 12370 109625 60599 589290 72969 14115 28587 0 0 0 0 0 0 84600 290190 306749 304305 335336 284985 -262367 4426453 7035465 0 3001977 4426453 4033488 CITY FIRST HOMES (DBA HOMES BY CFE) INCREASES HOMEOWNERSHIP FOR LOW- TO MODERATE-INCOME HOUSEHOLDS, STRENGTHENING DISINVESTED COMMUNITIES AND HELPING TO BUILD GENERATIONAL WEALTH AND OPPORTUNITY. 0 0 243146 28587 CITY FIRST HOMES SUPPORTS AFFORDABLE HOUSING IN THE DISTRICT OF COLUMBIA AND PROVIDES PRE-AND POST-PURCHASE HOMEBUYER SUPPORT, RESALE ASSISTANCE, AND POST-PURCHASE HOMEOWNER SUPPORT VIA THE SHARED APPRECIATION PURCHASE ASSISTANCE PROGRAM. IN 2022, CFH LAUNCHED A MORTGAGE PROGRAM, SET UP AS A SPECIAL PURPOSE CREDIT PROGRAM (SPCP) UNDER THE EQUAL CREDIT OPPORTUNITY ACT, AIMED AT BLACK AND LATINO FIRST-TIME HOMEOWNERS IN DC AND REBRANDED ITSELF AS "HOMES BY CFE". 243146 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 X 10 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DC X OSWALDO ACOSTA PRESIDENT AND CEO 2027454490 1701 RHODE ISLAND AVE NW STE 3-301 WASHINGTON DC 20036 OSWALDO ACOSTA PRESIDENT AND CHIEF EXECUTIVE OFFICER 40.00 0.00 X X 0 351733 0 MARY ANN DONOVAN DIRECTOR 1.00 0.00 X 0 0 0 PRIYA JAYACHANDRAN DIRECTOR 1.00 0.00 X 0 0 0 LORI CHATMAN DIRECTOR 1.00 0.00 X 0 0 0 AMBER KUCHAR-BELL DIRECTOR 1.00 0.00 X 0 0 0 SHANNON SCOTT DIRECTOR 1.00 0.00 X 0 0 0 BRIAN ARGRETT CHAIRMAN 1.00 0.00 X 0 0 0 DAVID MCGRADY VICE-CHAIRMAN 1.00 0.00 X 0 0 0 DR WILLIAM LONGBRAKE TREASURER 1.00 0.00 X 0 0 0 CHUCK MUCKENFUSS SECRETARY 1.00 0.00 X 0 0 0 0 351733 0 0 0 1 0 0 12370 12370 RESALES INCOME 900099 38099 38099 OTHER REVENUE 900099 22500 22500 60599 72969 0 0 72969 X 28587 28587 7050 7050 282000 197400 84600 13948 6358 7590 STAFF TRAINING 3751 3751 0 0 335336 243146 7590 84600 2576677 2801138 1500000 1928 13049 1847023 2719791 825 1487 4426453 7035465 1799 3000000 0 178 0 3001977 X 4426453 4033488 4426453 4033488 4426453 7035465 X -262367 -130598 X X 0 1 X 1 0 X 186808 971528 477000 0 1635336 186808 971528 477000 1635336 1635336 68720 39035 10161 2665 12370 132951 1768287 0.92480 0.91400 X 0 INTERCOMPANY PAYABLE 178 178 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THIS RETURN. 0 0 0 0 0 0 0 0 0 OSWALDO ACOSTA PRESIDENT AND CHIEF EXECUTIVE OFFICE 0 298733 0 53000 0 0 0 0 0 0 0 351733 0 0 FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIP AT BROADWAY FINANCIAL CORPORATION - BRIAN ARGRETT, DAVID MCGRADY, MARY ANN DONOVAN, WILLIAM LONGBRAKE. BUSINESS RELATIONSHIP AT CITY FIRST ENTERPRISES INC. - BRIAN ARGRETT, DAVID MCGRADY, WILLIAM LONGBRAKE, CHUCK MUCKENFUSS. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS RETURN. CFE AUDIT COMMITTEE IS GIVEN A COPY OF RETURN TO REVIEW. AUDIT COMMITTEE SUBMITS COMMENTS TO MANAGEMENT. MANAGEMENT DISCUSSES RETURN WITH TAX PREPARER TO INCORPORATE ANY CHANGES; FINAL DRAFT PREPARED & DISCUSSED WITH AUDIT COMMITTEE. THE FINAL DRAFT, REFLECTING ANY NECESSARY CORRECTIONS, IS PROVIDED TO THE BOARD FOR REVIEW AND FINAL APPROVAL; THEN THE RETURN IS FILED BY THE PREPARER. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS FOR CONFLICT OF INTEREST ISSUES THAT ARE REFERRED TO ITS LAWYERS AS NEEDED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS COMPARABLE PAY DATA, CONSIDERS QUALIFICATIONS OF THE CANDIDATE(S) AND FORMALIZES ITS COMPENSATION DECISIONS THROUGH A FORMAL BOARD OF DIRECTORS VOTE THAT IS RECORDED IN BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 197,400. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 84,600. TOTAL EXPENSES 282,000. FORM 990, PART XI, LINE 9: ADOPTION OF ACCOUNTING GUIDANCE -130,610. OTHER ADJUSTMENTS 12. FORM 990, PARI XII, LINE 2C CITY FIRST ENTERPRISES INC, WHICH IS THE SOLE MEMBER OF CITY FIRST HOMES INC., MAINTAINS AN AUDIT COMMITTEE THAT HAS THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. CITY FIRST ENTERPRISES INC 1701 RHODE ISLAND AVE NW WASHINGTON DC 20036 522101165 TO PROMOTE COMMUNITY DEVELOPMENT BY PROVIDING AFFORDABLE HOUSING. DC 501(C)(3) 509(A)(2) N/A 0 BROADWAY FINANCIAL CORPORATION 5055 WILSHIRE BOULEVARD SUITE 500 LOS ANGELES CA 90036 954547287 BANK HOLDING COMPANY THAT CONDUCTS OPERATIONS THROUGH CITY FIRST BANK DC C 0.09180 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 CITY FIRST ENTERPRISES INC Q 282000 CASH CITY FIRST ENTERPRISES INC R 178 CASH