2024-11-15T05:54:30-06:00 2024-06-30 202153727 SB AND COMPANY LLC 10200 GRAND CENTRAL AVENUE SUITE 250 OWINGS MILLS MD 21117 990 2023-07-01 832643429 NEIGHBORHOOD IMPACT INVESTMENT FUND INC NEIG 4102183437 1040 PARK AVENUE 310 BALTIMORE MD 21201 MARK KAUFMAN PRESIDENT AND CEO 4102183437 2024-11-14 1 0 TIANA WYNN P00997288 4105840060 2023 2024-10-15 13:58:12Z MARK KAUFMAN 1040 PARK AVENUE 310 BALTIMORE MD 21201 10363482 0 X HTTPS://WWW.BALTIMORENIIF.ORG/ X 2018 MD DELIVER CAPITAL AND PROMOTE EQUITABLE GROWTH IN BALTIMORE'S DISINVESTED NEIGHBORHOODS. 14 14 7 14 0 0 2155640 8003038 131978 1275961 1264400 1084483 17320 0 3569338 10363482 100000 3735950 0 0 562699 953993 0 0 90496 1592948 1388033 2255647 6077976 1313691 4285506 57985292 63033777 51768703 51751083 6216589 11282694 NEIGHBORHOOD IMPACT INVESTMENT FUND, INC. (NIIF) MOBILIZES CAPITAL AND LEVERAGES PARTNERSHIPS TO SUPPORT COMMUNITY DEVELOPMENT, DRIVE ECONOMIC OPPORTUNITY, AND PROMOTE EQUITY IN BALTIMORE'S DISINVESTED NEIGHBORHOODS. 0 0 5420186 3735950 1275961 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. 5420186 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 17 0 1 7 0 0 0 0 0 0 0 0 0 0 0 X 14 14 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 BOARD CHAIR 2.00 X X 0 0 0 JALAL JAY GREENE TREASURER UNTIL 3/19/24 2.00 X X 0 0 0 JOYCE MOSKOVITZ SECRETARY (LEFT 3/19/24) 2.00 X X 0 0 0 MARY MILLER MEMBER 2.00 X 0 0 0 SONJA WELLS MEMBER 1.00 X 0 0 0 MARC BROADY MEMBER 1.00 X 0 0 0 AUGIE CHIASERA MEMBER 1.00 X 0 0 0 LINDA SORDEN MEMBER/SECRETARY 3/19/24 1.00 X X 0 0 0 JOHN HAMILTON MEMBER 1.00 X 0 0 0 ERNST VALERY MEMBER (LEFT 3/19/24) 1.00 X 0 0 0 FT BURDEN MEMBER 1.00 X 0 0 0 PAUL TAYLOR MEMBER 1.00 X 0 0 0 LORI GLASS MEMBER 1.00 X 0 0 0 COLIN TARBERT MEMBER 1.00 X 0 0 0 MICHAEL GAINES MEMBER 3/19/24 1.00 X 0 0 0 MICHAEL POKORNY MEMBER 3/19/24 1.00 X 0 0 0 ANNIE MILLI MEMBER 3/19/24 1.00 X 0 0 0 MARK KAUFMAN PRESIDENT AND CEO 40.00 X 170025 0 6154 PATRICIA CHANDLER CHIEF FINANCIAL OFFICER/TREASURER 3/19/2024 12.00 X 53505 0 0 RYAN RATTANNI CHIEF LENDING OFFICER/VICE PRESIDENT 3/19/24 40.00 X 124200 0 4179 SAMMY NDIYO CONTROLLER 40.00 X 121201 0 17409 468931 0 27742 3 0 1 0 FORSYTH STREET ASSET MANAGEMENT LLC 588 BROADWAY SUITE 1208 NEW YORK NY 10012 FINANCIAL ADVISORS: FUND MANAGEMENT,LOAN 384290 1 4957678 3045360 8003038 INTEREST INCOME ON LOA 1078115 1078115 LOAN INCOME AND OTHER 561499 197846 197846 1275961 1084483 1084483 10363482 1275961 0 1084483 3735950 3735950 496673 270923 188926 36824 298863 198588 77059 23216 18900 11931 5400 1569 79257 40545 32269 6443 60300 36018 19790 4492 4171 2537 1634 364861 309000 55861 108393 55933 36460 16000 25935 25935 25306 2352 22954 58853 11995 46858 1457 1060 397 32971 32971 29108 15247 11909 1952 PROVISION FOR LOAN LOSS 645239 645239 LOAN SERVICING FEES 82149 82149 UNUSED FEES (FUNDERS) 8871 8871 ALL OTHER EXPENSES 719 719 6077976 5420186 567294 90496 1670529 3323864 988265 503900 21576928 22652196 50956 44399 33655428 35499203 1000000 43186 10215 57985292 63033777 68703 51083 51700000 51700000 51768703 51751083 X 4661949 10782694 1554640 500000 6216589 11282694 57985292 63033777 4285506 780599 0 X 0 1 X 1 1 1 X 3000000 94516 2661743 2155640 8003038 15914937 198563 495532 770335 1036226 1272528 3773184 3198563 590048 3432078 3191866 9275566 19688121 0 0 0 19688121 1001074 266630 16639 367899 1084482 2736724 1001074 266630 16639 367899 1084482 2736724 23 3432 3455 4199637 856701 3448717 3559765 10363480 22428300 0.87780 0.12200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 11150479 780597 6400 786997 10363482 0 10363482 6084376 6400 6400 6077976 0 6077976 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, 2024 AND 2023, 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, 2024, THE STATUTE OF LIMITATIONS FOR FISCAL YEARS 2021 THROUGH 2024, 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 100146 0 SECURITY SYSTEM, PROPERTY UPDATES MEDCO MADISON PARK NORTH LLC 2002 CLIPPER PARK ROAD SUITE 105 BALTIMORE MD 21211 521376562 3504233 0 PROPERTY UPDATES FAMILY RECOVERY PROGRAM INCORPORATED 239 N GAY ST BALTIMORE MD 21202 454904725 501C(3) 18498 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS NEXT ONE UP FOUNDATION INC 502 WASHINGTON AVENUE TOWSON MD 21204 272393482 501C(3) 9498 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS 1101 1103 1105 HOLLINS AEQUO EVI LLC CO ERNST VALERY INVESTMENTS CORP 1707 N CHARLES STREET STE 200A BALTIMORE MD 21201 870891579 21603 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS AISQUITH SENIOR LLC 3601 CLARKS LANE SUITE 2A-B BALTIMORE MD 21215 932848650 12182 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS ROBERT C HUNT REVITALIZATION CENTER 1701 NORTH CHESTER STREET BALTIMORE MD 21213 931563613 501C(3) 9250 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS DRUID HEIGHTS COMMUNITY DEVELOPMENT CORPORATION INC 2140 MCCULLOH STREET BALTIMORE MD 21217 521021726 501C(3) 24475 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS HCPI DEVELOPMENT FUND INC 25 EAST 20TH STREET BALTIMORE MD 21218 465504308 7998 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS JAMES HOOPER LLC 100 EAST 23RD STREET BALTIMORE MD 21218 822088704 15981 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS 46-48 S CARROLLTON LLC 1319 WEST FAYETTE STREET BALTIMORE MD 21223 861697846 12086 0 OFFSET THE THIRD-PARTY COSTS ASSOCIATED WITH NIIF LOANS THAT CAN BE A SIGNIFICANT BURDEN TO SMALL DEVELOPERS OR SMALL PROJECTS 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 X X 0 0 0 0 0 0 0 0 0 MARK KAUFMAN PRESIDENT AND CEO 170025 0 0 0 0 0 0 0 6154 0 176179 0 0 0 ERNST VALERY BOARD DIRECTOR 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 HAS SEVERAL DIRECTORS WHO SERVE AS OFFICERS OR EMPLOYEES OF LENDING ORGANIZATIONS, BOTH NON-PROFIT AND FOR PROFIT. IN THE NORMAL COURSE, THESE ORGANIZATIONS MAY SHARE A BUSINESS RELATIONSHIP THROUGH EACH LENDING TO THE SAME COUNTERPARTY. NIIF ALSO HAS SEVERAL DIRECTORS WHO MAY SERVE AS OFFICERS AND EMPLOYEES OF ORGANIZATIONS THAT HAVE SOUGHT OR MAY SEEK TO OBTAIN PROJECT RELATED FINANCING FROM NIIF OR ENTITIES REPRESENTED BY NIIF DIRECTORS. TO THE EXTENT NIIF IS INVOLVED IN ANY SUCH TRANSACTION, THE RELATIONSHIP IS GOVERNED BY NIIF'S CONFLICT OF INTEREST POLICY. NIIF HAS A DEPOSITORY AND CREDIT RELATIONSHIP WITH M&T BANK. DIRECTOR AUGIE CHIASERA IS A SVP AND PRESIDENT OF M&T BANK'S BALTIMORE AND CHESAPEAKE REGIONS. NIIF'S BUSINESS RELATIONSHIP WITH M&T BANK IS SUBJECT TO TERMS AND CONDITIONS GENERALLY AVAILABLE TO SIMILARLY SITUATED BANKING CLIENTS. 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 REGULARLY DISCLOSE ALL CONFLICTS OF INTEREST AND PREVIOUSLY UNREPORTED CONFLICTS OF INTEREST IN WRITING ON NIIF'S DISCLOSE 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, AGREED TO COMPLY WITH THE POLICY AND HAS NO CONFLICT OF INTEREST TO REPORT CURRENT AND ANY PREVIOUSLY UNREPORTED CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 SB & COMPANY PREPARES A SUMMARY OF THE SALARIES OF OTHER EXECUTIVE DIRECTORS AT SIMILAR ORGANIZATIONS IN THE BALTIMORE AREA AND WE UTILIZE THE CDFI LOAN FUND COMPENSATION SURVEY FOR CDFI ORGANIZATIONS WITH SIMILAR STAFF SIZE, URBAN, AND PRIMARY FINANCING SECTOR FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.