2024-04-23T14:21:20+00:00 2023-12-31 390859910 Baker Tilly US LLP 225 South 6th St Suite 2300 Minneapolis MN 55402 990 2023-01-01 411380923 Family Housing Fund FAMI 6123759644 310 4TH AVENUE SOUTH 9000 MINNEAPOLIS MN 55415 Ellen K Sahli President 6123759644 2024-04-23 true Ellen Sahli 999009999 true Karen A Gries P00078514 6128764500 2024-05-15 2023 2023-04-26 12:10:37Z ELLEN K SAHLI 310 4TH AVENUE SOUTH 9000 MINNEAPOLIS MN 55415 8395011 false X www.fhfund.org X 1980 MN To help the affordable housing network adapt to the needs of families in complex and constantly changing conditions. 20 20 9 23 0 0 7394692 3685678 634128 527989 62189 600187 8839 82096 8099848 4895950 7114852 2999593 0 976774 1105026 0 186567 1697468 1618569 9789094 5723188 -1689246 -827238 49343044 49428287 1730526 1172632 47612518 48255655 X THE FAMILY HOUSING FUND (The Fund) IS A NONPROFIT INTERMEDIARY ORGANIZATION WHOSE MISSION IS TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS. false false 1894189 1353400 BUILDING EQUITY The Fund supports individuals in purchasing small multifamily homes (2-4 unit properties) and sustaining success as owner-occupant landlords. This program aims to reduce racial wealth disparities by prioritizing engagement with Black, Indigenous, and People of Color homebuyers and helping them onto an accelerated wealth building path. As part of this initiative, the Fund supports training options specific to small multifamily homeownership and provides a variety of financial supports, including down payment assistance loans, post-purchase loans, and a post-purchase savings incentive. 2023 marked the third year of the three-year pilot of this initiative. By the end of 2023, 478 individuals were served by at least one component of the Building Equity initiative, 111 of whom purchased a home with support from the Fund and its partners. As an outgrowth of the Building Equity initiative, the Fund's "Valuing Homes in Black Communities" project has engaged more than 70 aspiring homebuyers, homeowners, and nonprofit partner organizations to develop innovative strategies for advancing homeownership and wealth building opportunities for Black/African American households. Through this engagement, the Fund seeks to develop and implement new approaches and tools for addressing racial disparities in homeownership as well as home valuation. 1119104 542000 EXPAND OPPORTUNITIES The Fund aims to improve housing stability, reduce evictions and displacement, improve housing choice, and ensure access to quality, affordable homes. To accomplish this, the Fund leads and coordinates activities to systematically address threats to housing stability and choice, in partnership with public and private partners. This includes convening partners across private, nonprofit, and public sectors to develop strategies for expanding access to emergency financial assistance, identify and address the impacts of corporate-owned single-family rental homes, disrupt discriminatory tenant screening practices, and improve the quality of the housing stock across the Twin Cities region. In 2023, the Fund engaged with more than 400 stakeholders to increase public will for emergency financial assistance, approximately 140 renters to examine single-family rental homes, and two jurisdictions to protect renters experiencing habitability issues. 869968 722193 Activate More Housing Champions The Fund increases public will for housing solutions by supporting advocacy efforts, producing and publishing research, and elevating housing success stories through its strategic communications. The Fund also strengthens the local ecosystem of housing organizations and resources by providing support to community-based partner organizations. In 2023, the Fund published four reports of research and hosted three virtual events with the public to share housing learnings. 880764 382000 527989 The Fund serves as the Fiscal Sponsor to support Nonprofit initiatives. THE FUND ALSO CONTINUES TO WORK WITH LOCAL GOVERNMENTS, NONPROFIT ORGANIZATIONS, AND THE MORTGAGE COMPANY INDUSTRY TO HELP LOW AND MODERATE-INCOME FAMILIES BECOME SUCCESSFUL HOMEOWNERS. THE FUND MAINTAINS RESOURCES TO IDENTIFY EMERGING ISSUES THAT AFFECT THE AFFORDABLE HOUSING NETWORK AND TO HELP DEVELOP STRATEGIES TO ADDRESS THESE ISSUES. THE FUND EXPANDS PUBLIC UNDERSTANDING OF THE VALUE OF AFFORDABLE HOUSING AND PUBLIC WILL TO PRESERVE AND PRODUCE AFFORDABLE HOUSING IN THE CONTEXT OF A COMPREHENSIVE REGIONAL DEVELOPMENT APPROACH THAT SERVES ALL COMMUNITIES AND THEIR RESIDENTS. THE FUND SUPPORTS HOMEOWNERSHIP EDUCATION, COUNSELING, AND TRAINING (HECAT), EQUIPPING A NETWORK OF HOMEOWNERSHIP ADVISORS TO ASSIST FAMILIES BEFORE THEY PURCHASE THEIR HOMES, AT THE TIME OF PURCHASE, AND AFTER THE FAMILY HAS PURCHASED A HOME. THE FUND WORKS WITH PRIVATE AND PUBLIC PARTNERS TO FUND HECAT. THE FUND ALSO CONTINUES TO MANAGE ITS PORTFOLIO OF AFFORDABLE HOMEOWNERSHIP LOANS FROM SEVERAL PAST HOMEOWNERSHIP PROGRAMS. THESE PROGRAMS PROVIDED AFFORDABLE, SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES TO LOW- AND MODERATE-INCOME FAMILIES. Increase Supply This program area aims to increase housing choice and affordability by expanding new approaches to housing development and preservation in the Twin Cities region. The Fund informs local policy throughout the region to preserve and produce housing, while also exploring and supporting new tools for expanding the supply of quality, affordable homes. The Fund has established a $2 million development/acquisition fund for 2-4 unit properties, promoted the development of accessory dwelling units to 202 homeowners, and supported local public entities in planning for the creation of nearly 892 new public housing units. 880764 382000 527989 4764025 true true false true false false false false false true false true false true true true false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false true 16 0 9 true false false false false false false false false false false false false X 20 20 false false false false false true false true true false false true true true true true true false false false MN X ELLEN K SAHLI 6123759644 310 4TH AVE SOUTH STE 9000 MINNEAPOLIS MN 55415 ALENE TCHOURUMOFF CHAIRPERSON 3.0 X X 0 0 0 ANDREA BRENNAN VICE PRESIDENT 3.0 X X 0 0 0 CRAIG KLAUSING VICE PRESIDENT 3.0 X X 0 0 0 D'ANGELOS SVENKESON VICE PRESIDENT 3.0 X X 0 0 0 JOHN QUINCY VICE PRESIDENT/TREASURER 3.0 X X 0 0 0 REBECCA NOECKER VICE PRESIDENT 3.0 X X 0 0 0 Aarica Coleman DIRECTOR 2.0 X 0 0 0 Amy McCulloch DIRECTOR 2.0 X 0 0 0 Amy Stezel DIRECTOR 2.0 X 0 0 0 Anisha Murphy DIRECTOR 2.0 X 0 0 0 Bill Droste DIRECTOR 2.0 X 0 0 0 Blanca Martinez Gavina DIRECTOR 2.0 X 0 0 0 Danielle Grant DIRECTOR 2.0 X 0 0 0 Elena Gaarder DIRECTOR 2.0 X 0 0 0 Jamal Osman DIRECTOR 2.0 X 0 0 0 John DeCramer DIRECTOR 2.0 X 0 0 0 Jonathan Weinhagen DIRECTOR 2.0 X 0 0 0 Kasey Kier DIRECTOR 2.0 X 0 0 0 Kizzy Downie DIRECTOR 2.0 X 0 0 0 Lisa Goodman DIRECTOR 2.0 X 0 0 0 Mitra Jalali DIRECTOR 2.0 X 0 0 0 Nichol Dehmer DIRECTOR 2.0 X 0 0 0 Travis Bistodeau DIRECTOR 2.0 X 0 0 0 ELLEN SAHLI PRESIDENT 40.0 X 232891 0 46709 FUMIKO SALONE DIRECTOR OF OPERATIONS 40.0 X 137667 0 35274 KARYSSA SCHECK Development and Communications Officer 40.0 X 101991 0 17794 KRISTIN BURCH PROGRAM DIRECTOR 40.0 X 134834 0 31264 607383 0 131041 4 false true false Imagine Deliver 2429 Nicollet Ave Minneapolis MN 55404 Strategy and design facilitation 318280 CLIFTON LARSON ALLEN 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 ACCOUNTING SERVICES 156894 2 3685678 3685678 INTEREST-HOUSING LOAN 624200 520605 520605 FEE INCOME 541610 7384 7384 0 0 0 0 527989 600187 600187 0 0 3499061 3499061 0 0 0 0 Returned Grants 900099 82096 82096 0 0 0 0 82096 4895950 527989 0 682283 X 2999593 2999593 279600 161745 77992 39863 638758 369513 178177 91068 56135 30900 18373 6862 72180 39861 23402 8917 58353 35129 15016 8208 72219 57784 14435 206791 206791 84000 84000 843258 732371 109981 906 74234 44278 20037 9919 62681 37644 16747 8290 18481 4389 14092 40171 23163 11376 5632 49234 28388 13944 6902 PROVISION FOR LOAN LOSS 110667 110667 Reports and communication 51112 4600 46512 MISCELLANEOUS 5721 5721 0 0 0 0 5723188 4764025 772596 186567 1362046 164081 14707855 14240345 0 2675500 76460 316632 0 0 0 0 69696 90939 494333 436828 97676 57505 0 32923248 31819384 106063 63901 49343044 49428287 176592 350361 1067000 396000 128167 96327 0 0 358767 329944 1730526 1172632 43040007 43920003 4572511 4335652 47612518 48255655 49343044 49428287 X -827238 -432 1470807 X false true X true false X X 4 CITY OF ST PAUL 416005521 6 true 0 0 CITY OF MINNEAPOLIS 416005375 6 true 0 0 METROPOLITAN COUNCIL 416008898 6 true 0 0 MINNESOTA HOUSING FINANCE AGENCY 411599130 6 true 0 0 4 0 0 true false false false false false false false false false false false false false false true true Schedule A, Part IV, Section B, Line 2 Benefit Of Supp. Org. Other Than The One Operating The Org. As a supporting organization of government, the Family Housing Fund works collaboratively with Minnesota Housing, the Metropolitan Council, and the Cities of Minneapolis and St. Paul, supporting their housing policies and programs and delivering tested solutions to housing challenges. The four government entities appoint four members each to the Family Housing Fund Board of Directors. Appointments by government partners range from agency leadership, to elected officials, to community members. Through their appointed representation, each government agency participates in governance of the Family Housing Fund, including financial oversight and setting the strategic direction. This includes the approval of grants being awarded to organizations other than the supported organizations mentioned above. Detailed discussions during board meetings surrounding each grant award considered ensures that grants awarded by the Family Housing Fund further the exempt purpose of the family housing fund and its supported organizations. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 84000 0 84000 0 5452621 0 5536621 0 426831 0 106708 0 0 0 0 0 412197 1000000 628934 426831 2467962 3701943 84000 84000 84000 84000 336000 103049 250000 157233 106708 616990 925485 0 0 0 0 0 285471 227966 57505 208862 208862 0 57505 Net Loan Receivable 31819384 F 31819384 Loan payable - Hennepin County 264197 Lease Liability 65747 329944 X 6366325 -432 1470807 1470375 4895950 0 0 4895950 5723188 0 0 5723188 0 0 5723188 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE FUND FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE FUND FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021. THE FUND'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Gain from decrease in present value discount of loans receivable - 1470807 true African Career Education & Resources 6800 78th Ave N Ste 101 Minneapolis MN 55445 471207676 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign Agate Housing and Services Inc 2309 Nicollet Avenue Minneapolis MN 55404 010639118 501(C)(3) 60000 0 N/A N/A Emergency Financial Assistance Redesign and Metro Inn Motel Brandt Jens Kluge LP 1360 Energy Park Dr Suite 210 Saint Paul MN 55108 411706530 Other 642193 0 N/A N/A Capital improvements Buildwealth MN 2121 Plymouth Ave N Minneapolis MN 55411 251918239 501(C)(3) 1292400 0 N/A N/A Building equity down payment assistance Central Lutheran Church 333 S 12th St Minneapolis MN 55404 410693942 501(C)(3) 14000 0 N/A N/A Emergency Financial Assistance Redesign CommonBond Communities 1080 Montreal Ave St Paul MN 55116 411260469 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign Community Mediation & Restorative Service Inc 9220 Bass Lake RD Suite 270 New Hope MN 55428 411484089 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign Community Stabilization Project 501 Dale St N 203 Saint Paul MN 55103 411729493 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign District 2 Community Council 1365 Prosperity Ave St Paul MN 55106 411239770 501(C)(3) 10000 0 N/A N/A Research on Single Family Rental Homes District 6 Planning Council 171 Front Ave St Paul MN 55117 411286435 501(C)(3) 25000 0 N/A N/A Research on Single Family Rental Homes Greater Twin Cities United Way 404 S Eighth St Minneapolis MN 55404 411973442 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign Home Line 8011 34th Ave S 126 Bloomington MN 55425 411941115 501(C)(3) 150000 0 N/A N/A Support the hotline and education & training program Hope Community 611 E Franklin Ave Minneapolis MN 55404 411292817 501(C)(3) 10000 0 N/A N/A Valuing homes in black communities Housing Justice Center 275 E 4th St Suite 590 Saint Paul MN 55101 411930525 501(C)(3) 133000 0 N/A N/A Emergency Financial Assistance Redesign, Renters reclaim the record HousingLink 1400 Van Buren St NE Suite 215 Minneapolis MN 55413 411873314 501(C)(3) 125000 0 N/A N/A Emergency Financial Assistance Redesign, 2023 project support Lutheran Social Service of Minnesota 2485 Como Ave St Paul MN 55108 410872993 501(C)(3) 12000 0 N/A N/A Building equity referral partner Metropolitan Consortium of Community Developers 3137 Chicago Ave Minneapolis MN 55407 411658654 501(C)(3) 5000 0 N/A N/A Sponsorship Minnesota Coalition for the Homeless 2233 University Avenue West Suite St Paul MN 55114 411601248 501(C)(3) 15000 0 N/A N/A Regional expert network, sponsorship Minnesota Housing Partnership 2446 University Ave Suite 140 St Paul MN 55114 411649643 501(C)(3) 22000 0 N/A N/A Emergency Financial Assistance Redesign, data collection and analysis Minnesota Multi Housing Association 7900 Xerxes Ave S Minneapolis MN 55431 410961625 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign MN Homeownership Center 1000 Payne Ave Suite 200 Saint Paul MN 55130 411741817 501(C)(3) 135000 0 N/A N/A HECAT Model Cities 839 University Ave W Saint Paul MN 55104 411687873 501(C)(3) 10000 0 N/A N/A Valuing homes in black communities Neighborhood Development Alliance 481 Wabasha St S Saint Paul MN 55107 411658636 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign Neighborhood House 179 Robie St E Saint Paul MN 55107 410693916 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign NeighborWorks Home Partners 533 Dale Street N St Paul MN 55103 411386089 501(C)(3) 22000 0 N/A N/A Valuing homes in black communities, building equity referral partner Payne-Phalen Community Council 567 Payne Ave St Paul MN 55130 411485441 501(C)(3) 25000 0 N/A N/A Research on Single Family Rental Homes Project for Pride in Living Inc 1035 East Franklin Avenue Minneapolis MN 55404 237232208 501(C)(3) 20000 0 N/A N/A Emergency Financial Assistance Redesign, valuing homes in black communities Regents of the University of Minnesota c/o Tax Management Office 2221 Minneapolis MN 55414 416007513 501(C)(3) 80000 0 N/A N/A Research on Corporate Ownership of SFR Homes Rondo CLT 1041 Selby Ave Saint Paul MN 55104 411753148 501(C)(3) 15000 0 N/A N/A Valuing homes in black communities, sponsorship Scott-Carver-Dakota CAP Agency Inc 712 Canterbury Rd S Shakopee MN 55379 410903890 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign Southern Mn Reg Legal Services 55 5th Ave E Suite 1000 Saint Paul MN 55101 411316151 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign The Alliance for Metropolitan Stability 2525 East Franklin Avenue Ste 200 Minneapolis MN 55406 411977419 501(C)(3) 10000 0 N/A N/A Emergency Financial Assistance Redesign Twin Cities Habitat for Humanity 1954 University Avenue West Saint Paul MN 55104 363363171 501(C)(3) 10000 0 N/A N/A Valuing homes in black communities Urban Homeworks Inc 2015 Emerson Avenue North Minneapolis MN 55411 411821520 501(C)(3) 20000 0 N/A N/A Emergency Financial Assistance Redesign Urban League Twin Cities 2100 Plymouth Avenue North Minneapolis MN 55411 410706915 501(C)(3) 12000 0 N/A N/A Building equity referral partner VEAP Inc 9600 Aldrich Ave S Bloomington MN 55420 416175999 501(C)(3) 25000 0 N/A N/A Research on Single Family Rental Homes 35 1 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. FILES ARE KEPT ON GRANTEES AND GRANTS ARE AWARDED TO ORGANIZATIONS SPONSORING HOUSING BENEFITING LOW TO MODERATE INCOME PERSONS. X false false false false false false false false false ELLEN SAHLI PRESIDENT 232891 0 0 0 0 0 23289 0 23420 0 279600 0 0 0 FUMIKO SALONE DIRECTOR OF OPERATIONS 127496 0 10171 0 0 0 13767 0 21507 0 172941 0 0 0 KRISTIN BURCH PROGRAM DIRECTOR 129721 0 5113 0 0 0 13483 0 17781 0 166098 0 0 0 Form 990, Part III, Line 4d Description of other program services (Expenses $ 880,764 including grants of $ 382,000)(Revenue $ 527,989) The Fund serves as the Fiscal Sponsor to support Nonprofit initiatives. THE FUND ALSO CONTINUES TO WORK WITH LOCAL GOVERNMENTS, NONPROFIT ORGANIZATIONS, AND THE MORTGAGE COMPANY INDUSTRY TO HELP LOW AND MODERATE-INCOME FAMILIES BECOME SUCCESSFUL HOMEOWNERS. THE FUND MAINTAINS RESOURCES TO IDENTIFY EMERGING ISSUES THAT AFFECT THE AFFORDABLE HOUSING NETWORK AND TO HELP DEVELOP STRATEGIES TO ADDRESS THESE ISSUES. THE FUND EXPANDS PUBLIC UNDERSTANDING OF THE VALUE OF AFFORDABLE HOUSING AND PUBLIC WILL TO PRESERVE AND PRODUCE AFFORDABLE HOUSING IN THE CONTEXT OF A COMPREHENSIVE REGIONAL DEVELOPMENT APPROACH THAT SERVES ALL COMMUNITIES AND THEIR RESIDENTS. THE FUND SUPPORTS HOMEOWNERSHIP EDUCATION, COUNSELING, AND TRAINING (HECAT), EQUIPPING A NETWORK OF HOMEOWNERSHIP ADVISORS TO ASSIST FAMILIES BEFORE THEY PURCHASE THEIR HOMES, AT THE TIME OF PURCHASE, AND AFTER THE FAMILY HAS PURCHASED A HOME. THE FUND WORKS WITH PRIVATE AND PUBLIC PARTNERS TO FUND HECAT. THE FUND ALSO CONTINUES TO MANAGE ITS PORTFOLIO OF AFFORDABLE HOMEOWNERSHIP LOANS FROM SEVERAL PAST HOMEOWNERSHIP PROGRAMS. THESE PROGRAMS PROVIDED AFFORDABLE, SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES TO LOW- AND MODERATE-INCOME FAMILIES. Increase Supply This program area aims to increase housing choice and affordability by expanding new approaches to housing development and preservation in the Twin Cities region. The Fund informs local policy throughout the region to preserve and produce housing, while also exploring and supporting new tools for expanding the supply of quality, affordable homes. The Fund has established a $2 million development/acquisition fund for 2-4 unit properties, promoted the development of accessory dwelling units to 202 homeowners, and supported local public entities in planning for the creation of nearly 892 new public housing units. Form 990, Part VI, Line 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL HAVE THE AUTHORITY TO ADJUST THE PRESIDENT'S COMPENSATION ON AN ANNUAL BASIS, AT THEIR DISCRETION, THROUGH ANY COMBINATION OF A PERFORMANCE-BASED SALARY INCREASE. THE EXECUTIVE COMMITTEE SHALL BASE THE PRESIDENT'S COMPENSATION ADJUSTMENTS ON CONSIDERATION OF THE PRESIDENT'S PERFORMANCE, THE ORGANIZATION'S BUDGET, MARKET CONDITIONS AND FHFUND'S FINANCIAL POSITION. THE PRESIDENT HAS THE AUTHORITY TO ESTABLISH COMPENSATION FOR ALL OTHER STAFF AND THE COMPENSATION IS BASED ON JOB DESCRIPTIONS AND PERFORMANCE REVIEWS. COMPENSATION LEVELS ARE SET BY THE PRESIDENT AND APPROVED BY THE BOARD AS PART OF THE ANNUAL BUDGET. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE BOARD OF DIRECTORS CONSISTS OF 24 MEMBERS, 4 MEMBERS ARE APPOINTED BY THE CITY OF SAINT PAUL (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE CITY OF MINNEAPOLIS (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE METROPOLITAN COUNCIL AND 4 BY THE MINNESOTA HOUSING FINANCE AGENCY. THE REMAINING 8 MEMBERS ARE APPOINTED BY THE FAMILY HOUSING FUND BOARD OF DIRECTORS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT AND THE FINANCE COMMITTEE. THE FINANCE COMMITTEE CHAIR WILL THEN PRESENT THE FORM 990 TO THE BOARD AT THE NEXT REGULAR MEETING, BEFORE THE FORM 990 IS FILED. Form 990, Part VI, Line 12c Conflict of interest policy FAMILY HOUSING FUND'S CONFLICT OF INTEREST POLICY REQUIRES THAT, PRIOR TO ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A DIRECTOR OR RESPONSIBLE PERSON WHO HAS A CONFLICT OF INTEREST DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN THE BOARD'S DISCUSSION ON THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSONS SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. SUCH DISCLOSURES WILL BE REFLECTED IN THE MINUTES OF THE MEETING. IF IT WAS NOT ENTIRELY CLEAR WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, THEN THE PERSON WITH THE POTENTIAL CONFLICT WILL DISCLOSE THE CIRCUMSTANCES TO THE PRESIDENT, THE CHAIR OR THE CHAIR'S DESIGNEE, WHO SHALL DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST. EACH RESPONSIBLE PARTY IS REQUIRED TO ANNUALLY SUBMIT A DISCLOSURE FORM IDENTIFYING THE BUSINESSES AND NONPROFIT ORGANIZATIONS OF WHICH SUCH RESPONSIBLE PERSON IS A DIRECTOR, OFFICER, EMPLOYEE OR PARTNER OR IN WHICH SUCH PERSON HAS AN OWNERSHIP INTEREST OF FIVE PERCENT OR MORE. THE POLICY IS REVIEWED ANNUALLY. Form 990, Part VI, Line 19 Required documents available to the public COPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST. Form 990, Part IX, Line 11g Other Fees Contract Services - Total Expense: 48319, Program Service Expense: 23046, Management and General Expenses: 25273, Fundraising Expenses: ; consulting fees - Total Expense: 794939, Program Service Expense: 709325, Management and General Expenses: 84708, Fundraising Expenses: 906; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Gain from decrease in present value discount of loans receivable - 1470807;