2024-07-15T20:20:14-05:00 2023-09-30 941254756 HOOD & STRONG LLP 60 SO MARKET ST STE 200 SAN JOSE CA 95113 990 2022-10-01 943032394 COMMUNITY VISION CAPITAL & CONSULTING COMM 4153928215 870 MARKET STREET 677 SAN FRANCISCO CA 94102 WIL O MENDOZA VICE PRESIDENT OF FINANCE 4153928215 2024-07-11 1 WIL MENDOZA 999009999 0 MAGA E KISRIEV P01008919 4089988400 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CATHERINE HOWARD 870 MARKET STREET 677 SAN FRANCISCO CA 94102 14581390 0 X HTTPS://COMMUNITYVISIONCA.ORG/ X 1987 CA PROVIDING FINANCING AND FINANCIAL EXPERTISE TO STRENGTHEN LOW-INCOME COMMUNITIES. 10 9 62 25 0 0 7225412 3851529 5084298 5338741 979075 1213698 0 0 13288785 10403968 224467 164494 0 0 6171205 6085586 0 0 618715 5282473 7639734 11678145 13889814 1610640 -3485846 119686017 129891649 82179276 92196482 37506741 37695167 X COMMUNITY VISION CAPITAL & CONSULTING PROMOTES ECONOMIC JUSTICE AND ALLEVIATES POVERTY BY INCREASING THE FINANCIAL RESILIENCE AND SUSTAINABILITY OF COMMUNITY-BASED NONPROFITS AND ENTERPRISES. THROUGH FLEXIBLE FINANCIAL PRODUCTS AND SOUND ADVICE, WE CREATE OPPORTUNITIES TO MAKE SOCIALLY RESPONSIBLE INVESTMENTS THAT REVITALIZE NORTHERN CALIFORNIA COMMUNITIES. 0 0 8379698 104494 4050291 CAPITAL SOLUTIONS: SINCE 1987, COMMUNITY VISION HAS MADE 654 LOANS TOTALING $322 MILLION TO NONPROFITS AND SOCIAL ENTERPRISES SERVING DISINVESTED COMMUNITIES IN NORTHERN AND CENTRAL CALIFORNIA, LEVERAGING OVER $1.9 BILLION IN ADDITIONAL PROJECT FUNDING. THESE LOANS HAVE HELPED CREATE OR PRESERVE 8,007 AFFORDABLE HOUSING UNITS FOR LOW-INCOME FAMILIES AND INDIVIDUALS, AND FINANCED OVER 4.9 MILLION SQUARE FEET OF NEIGHBORHOOD-SERVING COMMERCIAL AND RESIDENTIAL SPACE. THESE LOANS HAVE ALSO HELPED CREATE OR PRESERVE 24,446 PERMANENT AND CONSTRUCTION JOBS, AND HELPED FINANCE PROJECTS BY ORGANIZATIONS THAT SERVE OVER 1.8 MILLION INDIVIDUALS. AT THE END OF FY23, COMMUNITY VISION MANAGED A PORTFOLIO OF 105 LOANS WORTH $85 MILLION TO 87 ORGANIZATIONS. DURING FY23, COMMUNITY VISION CLOSED 34 LOANS TOTALING $39 MILLION. 2576577 60000 856646 REAL ESTATE SOLUTIONS (RES): SINCE THE INCEPTION OF OUR CONSULTING & TRAINING PROGRAM, COMMUNITY VISION HAS PROVIDED 1,163 REAL ESTATE AND FINANCIAL MANAGEMENT CONSULTING ENGAGEMENTS AND SERVED 5,519 ORGANIZATIONS THROUGH WORKSHOPS ON THESE TOPICS. DURING FY23, THE PROGRAM COMPLETED 63 CONSULTING ENGAGEMENTS, AND REACHED OVER 219 ORGANIZATIONS THROUGH 15 WORKSHOPS. RES ALSO MANAGES THE CALCORE PROGRAM, A FIVE-YEAR STATE-WIDE INITIATIVE THAT BRINGS TOGETHER COHORTS OF COMMUNITY-BASED DEVELOPERS, WITH A FOCUS ON BLACK, INDIGENOUS, PEOPLE OF COLOR-LED (BIPOC) REAL ESTATE ORGANIZATIONS, PARTICULARLY COMMUNITY DEVELOPMENT CORPORATIONS (CDCS) AND COMMUNITY LAND TRUSTS (CLTS). 615713 0 0 COMMUNICATIONS AND IMPACT: COMMUNITY VISION CONDUCTS ONGOING EVALUATION OF PROGRAMS AND INITIATIVES. WE DEVELOP AND DISTRIBUTE INFORMATION ABOUT OUR PROGRAMS BOTH INTERNALLY AND EXTERNALLY VIA MULTIPLE CHANNELS. 557459 0 431804 CAPITALIZATION: COMMUNITY VISION WAS FOUNDED BY COMMUNITY RESIDENTS AS A VEHICLE TO CHANNEL CAPITAL FROM SOCIALLY RESPONSIBLE AND MISSION MOTIVATED INVESTORS TO PROJECTS THAT BENEFIT LOW INCOME PEOPLE. WE PROVIDE EDUCATION ON SUSTAINABLE, SOCIALLY RESPONSIBLE INVESTING. AT THE END OF FY2023 INVESTMENTS MADE BY OVER 300 BANKS, FOUNDATIONS, INDIVIDUALS, RELIGIOUS ORGANIZATIONS, NONPROFIT ORGANIZATIONS AND HOSPITAL SYSTEMS INTO OUR REVOLVING LOAN FUND TOTALED $81 MILLION.NEW MARKETS TAX CREDIT: COMMUNITY VISION HAS RECEIVED A TOTAL OF $212 MILLION IN NEW MARKETS TAX CREDIT (NMTC) ALLOCATION FOR USE IN OUR NORTHERN AND CENTRAL CALIFORNIA SERVICE AREA. WE HIGHLY LEVERAGE AND INVEST TAX CREDIT CAPITAL IN HIGH IMPACT BUSINESSES AND NONPROFITS IN QUALIFYING LOW-INCOME COMMUNITIES, CREATING JOBS AND SPURRING ADDITIONAL ECONOMIC DEVELOPMENT. OUR NMTC PROGRAM HAS HELPED TO CREATE OR PRESERVE 5,637 JOBS, CREATED 1,038,826 SQUARE FEET OF COMMUNITY FACILITY SPACE, HELPED TO DEVELOP 84 UNITS OF AFFORDABLE HOUSING AND LEVERAGED AN ADDITIONAL $340 MILLION IN PRIVATE INVESTMENT. OVER 962,000 INDIVIDUALS ACROSS 8 COUNTIES SPANNING NORTHERN AND CENTRAL CALIFORNIA WILL BE SERVED BY THE PROJECTS DEVELOPED USING THESE FUNDS. 557459 0 431804 12129447 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 257 0 1 62 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X WIL O MENDOZA 4153928215 870 MARKET ST SUITE 677 SAN FRANCISCO CA 94102 PATRICIA GOPAUL BOARD CHAIR 4.00 X X 0 0 0 JOHN CHAN TREASURER 4.00 X X 0 0 0 DAVID ELSAESSER SECRETARY 4.00 X X 0 0 0 ANITA ADDISON BOARD MEMBER 4.00 X 0 0 0 NIKKI BEASLEY BOARD MEMBER 4.00 X 0 0 0 ANDRE MADEIRA BOARD MEMBER 4.00 X 0 0 0 BRYAN IGNOZZI BOARD MEMBER 4.00 X 0 0 0 JAMES SNYDER BOARD MEMBER (THRU 1/1/23) 4.00 X 0 0 0 CAROLYN JOHNSON BOARD MEMBER 4.00 X 0 0 0 LUISA MEDINA BOARD MEMBER 4.00 X 0 0 0 PAMELA MERCHANT BOARD MEMBER/CONSULTANT 4.00 X 8625 0 0 CATHERINE HOWARD PRESIDENT 40.00 X 241162 0 31835 WILFREDO O MENDOZA CFO 40.00 X 115157 0 13883 SABRINA KELLEY DIR OF EXTERNAL RELATIONS 40.00 X 166732 0 27178 SAUL ETTLIN SENIOR ADVISOR TO THE PRESIDENT 40.00 X 165550 0 30335 JONATHAN TAYLOR DR OF CAPITAL SOLUTIONS (THRU 1/23) 40.00 X 183732 0 25336 GRAYTON HUANG CONTROLLER 40.00 X 150851 0 9926 DANIEL MCDONALD SENIOR BUSINESS DEVELOPMENT OFFICER 40.00 X 143762 0 10253 1175571 0 148746 21 0 1 0 THE NORFUS FIRM POB 11177 MIAMI FL 33101 HR AND DEI CONSULTING 281927 NIXON PEABODY 300 S GRAND AVE 4100 LOS ANGELES CA 90071 LEGAL SERVICES 201941 2 1741165 2110364 3851529 INTEREST ON COMMUNITY LOANS 813319 4050291 4050291 LOAN FEES/NMTC FEES 813319 786253 786253 CONSULTING AND FISCAL AGENT FEES 813319 502197 502197 5338741 1023536 1023536 4367584 4177422 190162 190162 190162 10403968 5338741 0 1213698 164494 164494 514353 282894 128588 102871 4555692 3778356 445436 331900 201634 167414 21328 12892 443407 362752 50032 30623 370500 297323 42383 30794 511326 482437 20924 7965 81693 10208 71102 383 39431 39431 658592 511766 132280 14546 100005 79239 7216 13550 356977 328660 17681 10636 323102 260662 41826 20614 342289 281096 41929 19264 78297 55072 13072 10153 55285 42431 8146 4708 1487035 1487035 39762 32824 4676 2262 225139 177850 43260 4029 PROVISION FOR LOAN LOSS 2422774 2422774 BAD DEBT EXPENSE 534048 534048 FEES AND LICENSES 383979 370112 12342 1525 13889814 12129447 1141652 618715 1874888 297721 18641251 10890901 1653333 1470000 686189 1079895 61427918 77721782 197259 239948 2936061 415409 99477 2520652 26812166 26104376 3205202 3909198 181808 241808 4906526 5415368 119686017 129891649 1487265 1563138 2116048 5029824 20026 20000 73600688 81046971 4955249 4536549 82179276 92196482 X 25393848 28675836 12112893 9019331 37506741 37695167 119686017 129891649 X -3485846 1246373 2427899 X 0 1 X 1 1 1 X 5527752 5157269 14317131 7225412 3851529 36079093 5527752 5157269 14317131 7225412 3851529 36079093 5069074 31010019 524975 422853 586940 1041465 1023536 3599769 8820 8820 39687682 28779491 0.78140 0.83720 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING EVENTS - 2018 AMOUNT: $ 8,820. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 7110 7110 13843273 13850383 842519 210630 0 0 727229 597315 731372 842519 2898435 4347653 5500 7500 7110 20110 181807 149329 182843 210630 724609 1086914 123954 91081 32873 384208 324328 59880 2427899 2427899 2520652 FUNDS HELD IN TRUST 3380209 OTHER LIABILITIES 430413 OPERATING LEASE LIABILITY 725927 4536549 X 12654875 1246373 362147 681818 2290338 10364537 39431 39431 10403968 14894348 362147 362147 14532201 39431 -681818 -642387 13889814 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FROM CALIFORNIA FRANCHISE AND/OR INCOME TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. AS OF SEPTEMBER 30, 2023, MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD MAINTAINED ITS TAX-EXEMPT STATUS AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DEBT EXTINGUISHMENT NETTED IN PROVISION FOR LOAN LOSS 681,818. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEBT EXTINGUISHMENT NETTED IN PROVISION FOR LOAN LOSS -681,818. 1 SOGOREA TE' LAND TRUST 2501 HARRISON STREET OAKLAND CA 94612 824415931 501(C)(3) 27247 0 GENERAL OPERATING SUPPORT FIRST NATIONS DEVELOPMENT INSTITUTE 2432 MAIN STREET LONGMONT CA 80501 541254491 501(C)(3) 27247 0 GENERAL OPERATING SUPPORT SOLANO ADVOCATES FOR VICTIMS OF VIOLENCE 1745 ENTERPRISE DR SUITE 1F FAIRFIELD CA 94533 611582626 501(C)(3) 30000 0 GENERAL OPERATING SUPPORT NORTHERN CALIFORNIA GRANTMAKERS 160 SPEAR STREET 360 SAN FRANCISCO CA 94105 942761355 501(C)(3) 30000 0 GENERAL OPERATING SUPPORT MALONGA ARTS COLLECTIVE 1428 ALICE STREET SUITE 201 OAKLAND CA 94612 883751876 501(C)(3) 10000 0 GENERAL OPERATING SUPPORT COMMUNITY ACTION BOARD OF SANTA CRUZ COUNTY 406 MAIN STREET STE 207 WATSONVILLE CA 95076 942523780 501(C)(3) 10000 0 GENERAL OPERATING SUPPORT YOUTH ALLIANCE 310 FOURTH STREET STE 101 HOLLISTER CA 95023 770377244 501(C)(3) 10000 0 GENERAL OPERATING SUPPORT LITTLE MANILA RISING CENTER 2154 S SAN JOACHIN STREET STOCKTON CA 95206 202661354 501(C)(3) 20000 0 GENERAL OPERATING SUPPORT 8 0 PART I, LINE 2: INITIAL, INTERIM AND FINAL REPORTS BY ALL GRANTEES INCLUDING RECIPIENTS OF FORGIVABLE LOANS. IF THE LOAN IS FORGIVEN BECAUSE A PROJECT DOES NOT MOVE FORWARD IT CONVERTS TO A GRANT. X X X 0 0 0 0 0 0 0 0 0 CATHERINE HOWARD PRESIDENT 241162 0 0 0 0 0 10235 0 21600 0 272997 0 0 0 JONATHAN TAYLOR DR OF CAPITAL SOLUTIONS (THRU 1/23) 180732 0 3000 0 0 0 8512 0 16824 0 209068 0 0 0 SAUL ETTLIN SENIOR ADVISOR TO THE PRESIDENT 160550 0 5000 0 0 0 7967 0 22368 0 195885 0 0 0 SABRINA KELLEY DIR OF EXTERNAL RELATIONS 163732 0 3000 0 0 0 8002 0 19176 0 193910 0 0 0 GRAYTON HUANG CONTROLLER 145851 0 5000 0 0 0 7526 0 2400 0 160777 0 0 0 DANIEL MCDONALD SENIOR BUSINESS DEVELOPMENT OFFICER 140762 0 3000 0 0 0 7313 0 2940 0 154015 0 0 0 PAMELA MERCHANT BOARD MEMBER TO FUND CAPITAL POOL FOR COMMUNITY AND ECONOMIC DEV. PROJECTS FINANCING X 20000 20000 0 1 1 20000 SCHEDULE L, PART II, LOANS FROM INTERESTED PERSONS: AT THE END OF FY2023 COMMUNITY VISION HAD 383 LOANS IN THIS POOL FROM BANKS, CORPORATIONS, INDIVIDUALS, RELIGIOUS GROUPS, HEALTH SYSTEMS AND NONPROFIT ORGANIZATIONS. ONE MEMBER OF THE BOARD OF DIRECTORS CHOSE TO SUPPORT THE ORGANIZATION'S MISSION BY LENDING MONEY TO THE ORGANIZATION'S CAPITAL POOL. THIS LOAN WAS INCLUDED IN NOTES PAYABLE ON THE ACCOMPANYING FINANCIAL STATEMENTS. THE LOAN WAS ACCEPTED ON TERMS THAT CONFORM TO THE ORGANIZATION'S STANDARD POLICIES FOR ACCEPTING LOANS INTO THE INVESTMENT POOL. DURING FY2023, COMMUNITY VISION HAD OUTSTANDING NOTES AS FOLLOWS:PAMELA MERCHANTBOARD MEMBERLOAN MADE TO COMMUNITY VISION: $20,000 AT 0% FORM 990, PART VI, SECTION B, LINE 11B ALL BOARD MEMBERS RECEIVED A COPY OF THE FORM 990 BEFORE IT WAS FILED. BOARD MEMBERS WERE ENCOURAGED TO REVIEW THE FORM 990 AND FORWARD THEIR QUESTIONS TO THE VICE PRESIDENT OF FINANCE OR TO COMMUNITY VISION'S ACCOUNTING FIRM WHO ADDRESSED THESE QUESTIONS. THE FINANCE COMMITTEE REVIEWED THE FORM IN DETAIL PRIOR TO FILING AND RECOMMENDED THE FILING OF THE RETURN TO THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ALL STAFF AND BOARD MEMBERS COMPLETE A DISCLOSURE FORM ANNUALLY. DISCUSSION AND DISCLOSURE ARE INCLUDED IN REGULAR BOARD AND COMMITTEE MEETINGS, AS APPROPRIATE. IF AN ACTUAL CONFLICT EXISTS, THE PERSON INVOLVED IS TO RECUSE THEMSELVES FROM TAKING ACTION ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE MANAGEMENT TEAM LED BY THE PRESIDENT REVIEWS SALARY INFORMATION FOR SIMILAR POSITIONS AT OTHER NONPROFIT AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS. THIS GROUP RECOMMENDS SALARY RANGES BASED ON COMPARABLE DATA AND OBTAINS APPROVAL FOR THOSE RANGES FROM THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. ALL DISCUSSIONS ARE DOCUMENTED CONTEMPORANEOUSLY AND A RECORD OF THE DECISIONS ARE MAINTAINED IN THE ORGANIZATION'S FILES. THE BOARD OF DIRECTORS REVIEWS THE PERFORMANCE OF THE PRESIDENT AND APPROVES THE COMPENSATION FOR THAT POSITION BASED ON COMPARABLE DATA FROM SIMILAR ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF TIME SET FORTH IN SEC. 6104(D). FORM 990, PART XI, LINE 9: LOAN PURCHASE AGREEMENT NET ASSETS TRANSFER 2,427,899. CREDIT ENHANCEMENT 1 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 825526864 TO MANAGE A PROGRAM FOR FOOD ENTERPRISE RELATED FINANCING. CA 796081 1443868 COMMUNITY VISION CAPITAL & CONSULTING 3105 SAN PABLO LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 943032394 SPECIAL PURPOSE ENTITY TO HOLD NOTES RELATED TO A REAL ESTATE TRANSACTION. CA 0 3153826 COMMUNITY VISION CAPITAL & CONSULTING NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE X LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 462968654 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 599 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE XI LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 800934944 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 3153 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 14 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 474524945 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 77508 7968 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 15 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 474535771 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 30012 590 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 16 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 474548038 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 37414 730 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 17 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 474557284 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 40128 4130 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 18 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 474570333 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 44002 4531 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 19 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824881789 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 30002 3091 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 20 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824895633 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 45000 4635 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 21 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824904581 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 55026 1114 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 22 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824921713 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 35014 691 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 23 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824952887 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 35000 3608 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 24 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824962734 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 56022 29122 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 25 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824986555 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED -800 0 1 0.99000 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 26 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 825011686 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED -800 0 1 0.99000 NCCLF MEMBERCO LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 263779521 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 NCCLF NMTC SUB-CDE 14 LLC L 77500 CONTRACT NCCLF NMTC SUB-CDE 21 LLC L 55000 CONTRACT NCCLF NMTC SUB-CDE 24 LLC L 56000 CONTRACT SCHEDULE R, PART III COMMUNITY VISION CAPITAL & CONSULTING ("COMMUNITY VISION") IS A CALIFORNIA NONPROFIT PUBLIC BENEFIT ORGANIZATION, A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI") AND A CERTIFIED COMMUNITY DEVELOPMENT ENTITY ("CDE"). SINCE 2009, THE CDE HAS RECEIVED SEVEN ALLOCATIONS OF NEW MARKETS TAX CREDIT ("NMTC") AUTHORITY UNDER SECTION 45D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE") TOTALING $218,000,000. UNDER THE RULES OF THE NMTC PROGRAM, COMMUNITY VISION AS A NONPROFIT CORPORATION MUST CREATE AND CONDUCT ITS NEW MARKETS PROGRAM THROUGH ONE OR MORE FOR-PROFIT CORPORATIONS OR LIMITED LIABILITY COMPANIES (HEREINAFTER THE "LLC"). THE LLC IS TYPICALLY REFERRED TO AS A "SUBSIDIARY", HOWEVER THE TERM "SUBSIDIARY" IS USED VERY DIFFERENTLY IN THE NEW MARKETS CREDIT PROGRAM THAN IT IS IN NORMAL CORPORATE FINANCE AND ACCOUNTING. IN THE NMTC PROGRAM, THE ECONOMIC INVESTMENT IN THIS "SUBSIDIARY" LLC IS MADE 99.99% BY A THIRD PARTY INVESTOR; AND THAT INVESTOR WILL RECEIVE ALL OF THE TAX BENEFITS. THE TERM "SUBSIDIARY" IS USED BY THE CDFI FUND TO SIGNIFY A RELATIONSHIP WHERE THE NEW FOR-PROFIT LLC IS MANAGED BY THE ALLOCATEE (COMMUNITY VISION) AND WHERE THE ALLOCATEE HAS SUFFICIENT CONTROL OVER THE OPERATIONS AND INVESTMENTS OF THE FOR-PROFIT LLC TO KEEP THE LLC IN COMPLIANCE WITH THE NEW MARKETS PROGRAM RULES. THE CDFI FUND HAS ESTABLISHED RULES TO DETERMINE WHAT CONSTITUTES CONTROL BUT, IN GENERAL, CONTROL MEANS (I) MAINTAINING MANAGEMENT CONTROL BY EITHER ACTING AS MANAGER OR OWNING A MAJORITY INTEREST AND (II) MAINTAINING INVESTMENT CONTROL (VETO POWER) OVER THE QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS ("QLICIS") MADE BY THE SUBSIDIARY CDE. IT IS COMMON IN COMMUNITY DEVELOPMENT FINANCING, SUCH AS IN FINANCING OF AFFORDABLE HOUSING, NEW MARKETS LENDING, AND HISTORIC PRESERVATION, FOR NONPROFITS TO BE MANAGING MEMBERS OR GENERAL PARTNERS OF A FOR-PROFIT ENTITY. THE LLC HAS BEEN FORMED WITH A MISSION CONSISTENT WITH THE NONPROFIT'S EXEMPT PURPOSE, AND WILL OPERATE WITHIN THE CONSTRAINTS OF THE FEDERAL NMTC PROGRAM. IN ADDITION, THE LLC CREATED TO ACT AS CONDUIT LENDER UNDER THE NMTC PROGRAM DOES NOT HAVE A SEPARATE BOARD OF DIRECTORS. ALL DECISIONS FOR THE LLC ARE MADE BY THE MEMBERS. COMMUNITY VISION IS THE MANAGING MEMBER OF THE LLC, AND ALL ACTIONS OF THE LLC IN MAKING AND HOLDING LOANS TO BORROWERS ARE MANAGED BY COMMUNITY VISION UNDER THE LLC'S OPERATING AGREEMENT WITH AN INVESTOR. ACTIONS BY COMMUNITY VISION IN THIS CAPACITY, LIKE ALL ITS OTHER LOAN ACTIVITY TO BORROWERS, ARE MANAGED BY THE STAFF AND OFFICERS OF COMMUNITY VISION UNDER THE DIRECTION OF THE BOARD OF DIRECTORS OF COMMUNITY VISION.