2025-03-03T18:08:35-06:00 2024-12-31 113066459 CERINI & ASSOCIATES LLP 3340 VETERANS MEMORIAL HWY BOHEMIA NY 11716 990 2024-01-01 260283588 THE DISABILITY FUND INC DISA 5163993020 265 SUNRISE HIGHWAY 1-701 ROCKVILLE CENTRE NY 11570 CHARLES D HAMMERMAN PRESIDENT & CEO 5163993020 2025-03-03 1 0 KENNETH CERINI P00223556 6315821600 2025-03-03 2024 2025-03-06 01:10:19Z DISABILITY OPPORTUNITY FUND CHARLES D HAMMERMAN 265 SUNRISE HIGHWAY 1-701 ROCKVILLE CENTRE NY 11570 8314371 0 X WWW.THEDOF.ORG X 2007 NY AS A NATIONALLY CERTIFIED CDFI, DOF'S MISSION IS TO PROVIDE FINANCIAL PRODUCTS, TECHNICAL ASSISTANCE, EQUITY INVESTMENT AND FINANCIAL ADVISORY SERVICES THAT IMPROVE THE QUALITY OF LIFE AND BUILD PERSONAL WEALTH FOR PEOPLE WITH DISABILITIES AND THEIR FAMILIES, AND SUPPORT ORGANIZATIONS SERVING THIS MARKET. 12 12 1 0 1003356 0 6576123 5519517 1062637 1768998 67949 1003356 434293 22500 8141002 8314371 2787850 1907073 0 0 506332 556886 0 0 170948 3158956 3385244 6453138 5849203 1687864 2465168 71678926 70573996 56587529 53017431 15091397 17556565 X AS A NATIONALLY CERTIFIED CDFI, DOF'S MISSION IS TO PROVIDE FINANCIAL PRODUCTS, TECHNICAL ASSISTANCE, EQUITY INVESTMENT AND FINANCIAL ADVISORY SERVICES THAT IMPROVE THE QUALITY OF LIFE AND BUILD PERSONAL WEALTH FOR PEOPLE WITH DISABILITIES AND THEIR FAMILIES, AND SUPPORT ORGANIZATIONS SERVING THIS MARKET. 0 0 5441248 1907073 1427212 COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) PROVIDING TECHNICAL AND FINANCIAL SERVICES TO INDIVIDUALS AND ORGANIZATIONS SERVING THE DISABILITY MARKET THROUGHOUT THE UNITED STATES, WITH A FOCUS ON AFFORDABLE HOUSING, SCHOOLS AND VOCATIONAL TRAINING CENTERS. 5441248 1 1 0 0 0 0 0 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 11 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X CHARLES D HAMMERMAN 5163993020 265 SUNRISE HIGHWAY SUITE 45 ROCKVILLE CENTRE NY 11570 LARUE GIBSON CHAIR 1.00 X X 0 0 0 LUIS DONOSO VICE CHAIR 1.00 X X 0 0 0 JUSTIN MANASTER ASSISTANT SECRETARY 1.00 X X 0 0 0 CINNAMON CHAMBERS LEWIS SECRETARY 1.00 X X 0 0 0 DIANA TUROFF TREASURER 1.00 X X 0 0 0 JAZMINE DA COSTA BOARD MEMBER 1.00 X 0 0 0 DAVID SWEENY BOARD MEMBER 1.00 X 0 0 0 D EDWARD GREENE BOARD MEMBER 1.00 X 0 0 0 CARL JENKINS BOARD MEMBER 1.00 X 0 0 0 ISAAC WELLS BOARD MEMBER 1.00 X 0 0 0 ANNE C FLANNERY BOARD MEMBER 1.00 X 0 0 0 PETER SCHAEFFING BOARD MEMBER 1.00 X 0 0 0 CHARLES D HAMMERMAN PRESIDENT & CEO 40.00 X 537055 0 0 537055 0 0 1 0 1 0 0 2940000 2579517 5519517 LOAN FEES & RELATED INTEREST 525990 1298904 1298904 RENTAL INCOME 532000 470094 470094 1768998 1003356 1003356 MISCELLANEOUS REVENUE 900099 22500 22500 22500 8314371 1791498 1003356 0 1907073 1907073 537055 429644 53705 53706 19831 15297 2622 1912 979881 783905 97988 97988 152617 122751 27895 1971 80211 64515 14661 1035 154327 124126 28208 1993 37878 32570 4089 1219 84319 82052 1514 753 1028929 1028929 173681 173681 67809 64532 2125 1152 PROVISION FOR LOAN LOSS 569929 569929 MEMBERSHIP FEES 30302 17350 3898 9054 UTILITIES 13744 13624 120 COMPUTER & WEB MAINTENA 11617 11270 182 165 5849203 5441248 237007 170948 4302426 2372313 14587864 9247806 23924 3456463 19299738 24907516 57988 346667 16425123 346667 6831141 6678195 6679716 10634716 96455 16304871 71678926 70573996 296175 179753 4957678 2137678 4000087 50700000 46699913 633676 0 56587529 53017431 X 15091397 15538887 2017678 15091397 17556565 71678926 70573996 2465168 0 X 0 1 X 1 1 1 X 3461526 4246696 3930204 6576123 5519517 23734066 3461526 4246696 3930204 6576123 5519517 23734066 23734066 68316 6816 106780 647821 875048 1704781 59083 22500 81583 25520430 1768998 0.93000 0.95570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 346667 346667 346667 INVESTMENTS IN PRIVATELY HELD COMPANIES AND VENTURE CAPITAL FUNDS 10634716 F 10634716 LEASED ASSETS 16304871 16304871 X 8314371 0 8314371 0 8314371 5849203 0 5849203 0 5849203 PART X, LINE 2: MANAGEMENT HAS EVALUATED THE ORGANIZATON'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAS NOT TAKEN ANY UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF ASC 740. FORM 990, SCHEDULE D, PART IX DURING THE REPORTING PERIOD, THE ORGANIZATION TRANSFERRED ITS INTEREST IN THE ASSETS OF THE SCHOOLHOUSE HOTEL (BUILDING AND IMPROVEMENTS), RETAINING THE UNDERLYING LAND, TO AN EXTERNAL PARTY IN EXCHANGE FOR A GROUND LEASE WITH THE SAME VALUE AS THE CARRYING VALUE OF THE TRANSFERRED ASSETS. THIS TRANSACTION WAS CONDUCTED AT ARM'S LENGTH, AND THE PROCEEDS FROM THE TRANSFER WERE RECOGNIZED IN ACCORDANCE WITH APPLICABLE ACCOUNTING AND REPORTING STANDARDS. THE TRANSACTION WAS APPROVED BY THE GOVERNING BODY, AND THERE WERE NO CONFLICTS OF INTEREST ASSOCIATED WITH THE TRANSFER. 1 ABBY 8 THE GREEN SUITE 15467 DOVER DE 19901 872529987 FOR PROFIT 25000 0 SUPPORT WHEELCHAIR COMPANY AKIM 634 EAGLE ROCK AVENUE WEST ORANGE NJ 07052 112499314 NOT FOR PROFIT 18000 0 SUPPORT EMPLOYMENT OF PEOPLE WITH DISABILITIES ALLEGRO FOUNDATION 419 ARDMORE ROAD CHARLOTTE NC 28029 200221482 NOT FOR PROFIT 10000 0 SUPPORT EDUCATION FOR CHILDREN WITH DISABILITIES AMERICAN HEART ASSOCIATION 145 PINELAWN ROAD MELVILLE NY 11747 135613797 NOT FOR PROFIT 10000 0 MEDICAL RESEARCH ANGEL BUTTONS 340 MAIN STREET MELROSE MA 02176 331805562 FOR PROFIT 25000 0 SUPPORT EMPLOYMENT OF PEOPLE WITH DISABILITIES CHABAD OF BROOMFIELD CO 4300 LEXI CIRCLE BROOMFIELD CO 80023 134148824 NOT FOR PROFIT 25000 0 SUPPORT SOCIALIZATION FOR PEOPLE WITH DISABILITIES DIF MANAGEMENT 265 SUNRISE HIGHWAY ROCKVILLE CENTRE NY 11570 852259408 FOR PROFIT 80000 0 ECONOMIC DEVELOPMENT AND EMPLOYMENT OF PEOPLE WITH DISABILITIES FAISON CENTER 5311 MARKET ROAD RICHMOND VA 23230 030387451 NOT FOR PROFIT 25000 0 SUPPORT HOUSING FOR PEOPLE WITH DISABILITIES FLOREO 3336 QUESADA STREET NW WASHINGTON DC 20015 811380182 FOR PROFIT 70000 0 AUTISM EDUCATION RESEARCH FOUNDATION COMMUNITIES (ZILKER) 3000 S IH35 AUSTIN TX 78704 471524782 NOT FOR PROFIT 10000 0 SUPPORT HOUSING FOR PEOPLE WITH DISABILITIES FOUNDATION COMMUNITIES MARY LEE PROJECT 3000 S IH35 AUSTIN TX 78704 471524782 NOT FOR PROFIT 20000 0 SUPPORT HOUSING FOR PEOPLE WITH DISABILITIES GABRIELLE'S ANGEL FOR CANCER REESEARCH 430 WEST 14TH STREET NEW YORK NY 10014 133916689 NOT FOR PROFIT 14520 0 SUPPORT CANCER RESEARCH HARLEM UNITED 306 LENOX AVENUE NEW YORK NY 10027 133461695 NOT FOR PROFIT 10000 0 SUPPORT HOUSING FOR PEOPLE WITH DISABILITIES HEROES TO HEROES PO BOX 741577 BOYNTON BEACH FL 33474 272037965 NOT FOR PROFIT 10100 0 SUPPORT VETERANS WITH DISABILITIES HOMIES LAB LLC 30550 ESTERO STREET TEMECULA CA 92592 881057872 FOR PROFIT 25000 0 SUPPORT HOUSING FOR PEOPLE WITH DISABILITIES INCLUSION INTERNATIONAL 17 OVAL WAY LONDON LONDON UK SE115RR NOT FOR PROFIT 50000 0 SUPPORT PUBLIC POLICY FOR PEOPLE WITH DISABILITIES INFINITE ACCESS 226 WEST 26TH STREET NEW YORK NY 10001 991901191 FOR PROFIT 50000 0 SUPPORT OF CDFI ACTIVITIESIN DISABILITIES INSPIRED COMMUNITY 1864 ADAM CLAYTON POWELL NEW YORK NY 10026 872925213 NOT FOR PROFIT 5459 0 SUPPORT SERVICES FOR PEOPLE WITH DISABILITIES ITINERIS 2050 ROCKROSE AVENUE SUITE A BALTIMORE MD 21211 261441638 NOT FOR PROFIT 10000 0 SUPPORT EMPLOYMENT OF PEOPLE WITH DISABILITIES KAREN'S HOPE 3553 KENORA PLACE SEAFORD NY 11783 465582630 NOT FOR PROFIT 6000 0 SUPPORT SERVICES FOR PEOPLE WITH DISABILITIES MAUI CALM 1254 S KIHEI ROAD KIHEI HI 96753 873445071 NOT FOR PROFIT 20000 0 SUPPORT SERVICES FOR PEOPLE WITH DISABILITIES NATIONAL DISABILITY FINANCE COALITION 3913 OLIVER STREET HYATTSVILLE MD 20782 841781082 NOT FOR PROFIT 26000 0 SUPPORT OF CDFI ACTIVITY IN DISABILITIES NOD 77 WATER STREET NEW YORK NY 10005 521238307 NOT FOR PROFIT 6950 0 SUPPORT POLICY FOR PEOPLE WITH DISABILITIES NORTH AMERICAN JOURNEYS DBA TRAVELABILITY 3030 BRIDGEWAY 305 SAUSALITO CA 94965 680436037 NOT FOR PROFIT 25000 0 SUPPORT SERVICES FOR PEOPLE WITH DISABILITIES NYC AUTISM CHARTERS SCHOOLS 433 EAST 100TH STREET NEW YORK NY 10029 352255995 NOT FOR PROFIT 20000 0 EDUCATION CHILDREN WITH AUTISM OPYA 400 CONCAR DRIVE SAN MATEO CA 94402 475250981 FOR PROFIT 50000 0 SUPPORT SERVICES FOR PEOPLE WITH DISABILITIES PAT CAIRO FAMILY FOUNDATION 40 PARKWORLD DRIVE WEST VALLEY STREAM NY 11580 113261298 NOT FOR PROFIT 10000 0 SUPPORT CANCER RESEARCH PEACEFUL FRUITS LLC 101 E TUSCARAWAS AVE BARBERTON OH 44203 465667935 FOR PROFIT 37500 0 SUPPORT EMPLOYMENT OF PEOPLE WITH DISABILITIES SUNNYSIDE DEVELOPMENT 1231 E DAYTON STREET MADISON WI 53703 825451776 NOT FOR PROFIT 10000 0 SUPPORT HOUSING FOR PEOPLE WITH DISABILITIES THE SCHOOLHOUSE HOTEL 125 SCHOOLHOUSE WAY WHITE SULPHUR SPRINGS WV 24986 870828309 FOR PROFIT 1000000 0 RURAL ECONOMIC DEVELOPMENT AND EMPLOYMENT OF PEOPLE WITH DISABILITIES TRILLIUM COLLECTIVE LTD 772 WEST MAIN STREET WHITE SULPHUR SPRINGS WV 24986 550694400 NOT FOR PROFIT 45000 0 EDUCATION CHILDREN WITH AUTISM WSS STRIDE 125 SCHOOLHOUSE WAY WHITE SULPHUR SPRINGS WV 24986 931628825 NOT FOR PROFIT 30000 0 RURAL ECONOMIC DEVELOPMENT AND EMPLOYMENT OF PEOPLE WITH DISABILITIES TRIPLE A & C 669 BARAKALIN LANE LEWISBURG WV 24901 851374591 FOR PROFIT 45000 0 TO SUPPORT SERVICES FOR INDIVIDUALS W/ DISBAILITIES PART I, LINE 2: THERE IS A FULL APPLICATION PROCESS INCLUDING REVIEW AND FOLLOW UP WITH THE RECIPIENTS WHO PROVIDE REPORTS ON HOW FUNDS ARE EXPENDED. X X 0 0 0 0 0 0 0 1 0 CHARLES D HAMMERMAN PRESIDENT & CEO 337055 0 200000 0 0 0 0 0 0 0 537055 0 0 0 PART I, LINE 7 CHARLES HAMMERMAN RECEIVED A BONUS OF $200,000 WHICH WAS APPROVED BY THE FINANCE COMMITTEE. DIF MANAGEMENT NANCI FREIMAN IS THE SPOUSE OF CEO TO FUND HOUSING FOR INDIVIDUALS WITH DISABILITIES X 1700280 1700087 0 1 1 DIF MANAGEMENT NANCI FREIMAN IS THE SPOUSE OF CEO TO FUND HOUSING FOR INDIVIDUALS WITH DISABILITIES X 2300000 2300000 0 1 1 4000087 DIF MANAGEMENT NANCI FREIMAN IS THE SPOUSE OF CEO 110000 GRANT GRANT PROVIDED TO FUND HOUSING FOR INDIVIDUALS WITH DISABILITIES NANCI FREIMAN SPOUSE OF PRESIDENT & CEO 979881 DOF HAS A SIGNED AN AGREEMENT WITH DIF MANAGEMENT, ("THE MANAGEMENT COMPANY") TO PROVIDE FINANCIAL REPORTING OVERSIGHT. THE SOLE MEMBER OF THE MANAGEMENT COMPANY IS RELATED TO THE BOARD PRESIDENT OF DOF. IN ADDITION, THE SOLE MEMBER IS PART OF THE ORGANIZATION'S FINANCE COMMITTEE. FOR THE YEAR ENDED DECEMBER 31, 2024, THE MANAGEMENT FEES WERE $979,881 0 NANCI FREIMAN SPOUSE OF PRESIDENT & CEO 200000 DURING JUNE OF 2023, THE ORGANIZATION TRANSFERRED THE SCHOOLHOUSE HOTEL, WV TO THE MANAGEMENT COMPANY. DOF RETAINED THE BUILDING AND GROUNDS. IN FEBRUARY 2024, DOF CONTRIBUTED $200,000 TO THE MANAGEMENT COMPANY TO HELP SUBSIDIZE THE OPERATIONS OF THE HOTEL. DURING THE YEAR ENDED DECEMBER 31, 2024, DOF TRANSFERRED THE SCHOOL HOUSE ASSETS TO AN UNRELATED ENTITY IN EXCHANGE FOR A LONG-TERM GROUND LEASE. IN CONJUNCTION WITH THIS TRANSACTION, THE MANAGEMENT COMPANY TRANSFERRED ITS OWNERSHIP INTEREST IN THE SCHOOLHOUSE HOTEL, LLC TO THE UNRELATED LESSOR. THE MANAGEMENT COMPANY IS STILL MANAGING THE OPERATIONS OF THE HOTEL 0 NANCI FREIMAN SPOUSE OF PRESIDENT & CEO 4000280 DURING FISCAL 2023, THE ORGANIZATION ALSO PROVIDED TWO LOANS TO THE MANAGEMENT COMPANY, TOTALING $4,000,280, TO FUND HOUSES FOR INDIVIDUALS WITH DISABILITIES. THESE LOANS REQUIRE 300 PAYMENTS OF INTEREST ONLY. INTEREST IS SET AT TWO PERCENT. THESE LOANS ARE UNSECURED BUSINESS LOANS AND DUE BY MARCH 1, 2048. AS OF DECEMBER 31, 2024, THE AMOUNT OWED TO DOF WAS $4,000,087. 0 FORM 990, PART VI, SECTION A, LINE 2 NANCI FRIEMAN, THE CO-FOUNDER AND MEMBER OF THE BOARD, IS MARRIED TO CHARLES HAMMERMAN, CO-FOUNDER AND CEO. FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT SERVICES ARE PROVIDED THROUGH DIF MANAGEMENT I, LLC. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS SUBMITTED ELECTRONICALLY TO MEMBERS OF THE ORGANIZATION'S GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH ONE WEEK TO REVIEW THE PREPARED FORM 990 AND PROVIDE THEIR COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE MEMBERS OF MANAGEMENT IN CHARGE OF FILING THE RETURN FOR THEIR REVIEW. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT ANNUALLY MONITORS AND ENFORCES. THE BOARD CURRENTLY MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. THE SIGNED CONFLICT OF INTEREST POLICY IS SUBMITTED TO THE CEO WHO REVIEWS THE SIGNED ATTESTATIONS FOR POTENTIAL OR ACTUAL CONFLICTS. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, THE CEO WILL NOTIFY MEMBER OF MANAGEMENT OR THE GOVERNING BODY ABOUT SUCH CONFLICT AND INVESTIGATE THE CONFLICT. THE RESULTS OF THE INVESTIGATION WILL BE SUMMARIZED AND DOCUMENTED BY THE CEO AND BE REPORTED TO THE GOVERNING BODY. IF THE CEO ESTABLISHED THAT AN ACTUAL CONFLICT EXISTS, THE MEMBER OF MANAGEMENT OR THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THERE IS NO LONGER A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION HAS ESTABLISHED A WRITTEN COMPENSATION POLICY FOR THEIR BOARD TO FOLLOW IN ESTABLISHING THE COMPENSATION FOR THE CEO, OTHER OFFICERS OR KEY EMPLOYEES. THE POLICY MANDATES THAT EXECUTIVE COMPENSATION BE PERIODICALLY REVIEWED BY THE BOARD AND THAT THE BOARD SHOULD BE FREE OF CONFLICTS OF INTEREST. IN ADDITION, THE BOARD REVIEWS APPROPRIATE AND ADEQUATE DATA TO DETERMINE THE REASONABLENESS OF COMPENSATION BEING CONSIDERED. THE BOARD USES A VARIETY OF INFORMATION AND STUDIES THAT ARE AVAILABLE TO DETERMINE THAT THE APPROPRIATE LEVEL OF COMPENSATION IS BEING PAID TO ITS EXECUTIVES. THE BOARD'S DECISION REGARDING THE AMOUNT OF COMPENSATION PAID MUST BE ADEQUATELY DOCUMENTED IN THE COMTEMPORANEOUSLY WRITTEN FORMAT, DOCUMENTED WITH THE DATE OF THE DECISION, THE MEMBERS PRESENT DURING THE DECISION AND THOSE WHO VOTED ON IT, THE FULL TERMS OF THE TRANSACTION THAT WERE APPROVED AND THE COMPARABLE DATA USED AND RELIED UPON TO MAKE THE DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.