2024-05-15T10:48:49-05:00 2023-06-30 221478099 COHNREZNICK LLP 14 SYLVAN WAY PARSIPPANY NJ 070543801 990 2022-07-01 650545058 FLORIDA COMMUNITY LOAN FUND INC FLOR 4072460846 800 N MAGNOLIA AVE 106 ORLANDO FL 32803 TAMMY THOMAS CHIEF FINANCIAL OFFICER 4072460846 2024-05-15 1 TAMMY THOMAS 999009999 1 LORI ROTHE YOKOBOSKY CPA P01273422 9732283500 2024-05-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z IGNACIO ESTEBAN 800 N MAGNOLIA AVE 106 ORLANDO FL 32803 15185807 0 X WWW.FCLF.ORG X 1994 FL TO PROVIDE LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT ORMISSION-FOCUSED FOR-PROFIT ORGANIZATIONS TO DEVELOP AFFORDABLE HOUSING,SUPPORTIVE HOUSING (WHICH INCLUDES SOCIAL SERVICES FOR RESIDENTS),COMMUNITY FACILITIES, AND ECONOMIC DEVELOPMENT PROJECTS THAT HAVE ADIRECT AND MEASURABLE IMPACT TO LOW INCOME PERSONS THROUGHOUT THE STATEOF FLORIDA. 11 11 23 11 0 0 2895520 7698288 6323254 6976936 162219 510583 0 0 9380993 15185807 0 0 0 0 2454299 2852490 0 0 327021 2898042 5254507 5352341 8106997 4028652 7078810 127872101 147904543 81533591 94522198 46338510 53382345 X VISION: OPPORTUNITY AND DIGNITY EXIST FOR EVERY PERSON AND COMMUNITY IN FLORIDA.MISSION: OUR EXPERTISE AND CAPITAL MAKE PROJECTS SUCCESSFUL AND HELP ORGANIZATIONS IMPROVE LIVES AND COMMUNITIES.TO PROVIDE LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT ORMISSION-FOCUSED FOR-PROFIT ORGANIZATIONS TO DEVELOP AFFORDABLE HOUSING,SUPPORTIVE HOUSING (WHICH INCLUDES SOCIAL SERVICES FOR RESIDENTS),COMMUNITY FACILITIES, AND ECONOMIC DEVELOPMENT PROJECTS THAT HAVE ADIRECT AND MEASURABLE IMPACT TO LOW INCOME PERSONS THROUGHOUT THE STATEOF FLORIDA. 0 0 6828751 6976936 TO PROVIDE LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT OR MISSION-FOCUSED FOR-PROFIT ORGANIZATIONS TO DEVELOP AFFORDABLE HOUSING, SUPPORTIVE HOUSING (WHICH INCLUDES SOCIAL SERVICES FOR RESIDENTS), COMMUNITY FACILITIES, AND ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE IMPACT TO LOW INCOME PERSONS THROUGHOUT THE STATE OF FLORIDA. 6828751 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 73 0 1 23 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 0 1 1 1 0 FL X TAMMY THOMAS CFO 4072460846 800 N MAGNOLIA AVE NO 106 ORLANDO FL 32803 IGNACIO ESTEBAN CHIEF EXECUTIVE OFFICER 40.00 X 309422 0 26542 NELSON BLACK CHIEF LENDING OFFICER 40.00 X 258604 0 19600 TAMMY THOMAS CHIEF FINANCIAL OFFICER 40.00 X 257030 0 17920 JOY BEATON DIR OF GOV'T RELATIONS 40.00 X 197145 0 18100 JAMES WALKER COMM DEV LOAN OFFICER 40.00 X 150747 0 20403 JANET DEGUEHERY COMM & MKG MGR 40.00 X 132040 0 19600 JENNIFER RAINEY LOAN PORTFOLIO MANAGER 40.00 X 129399 0 20248 DWAYNE RANKIN COMM DEV LOAN OFFICER 40.00 X 117486 0 20020 RANDALL SIMMONS CONTROLLER 40.00 X 117879 0 19600 CLAIRE RALEY CHAIR 2.00 X X 0 0 0 MARILYN DRAYTON VICE-CHAIR (UNTIL 2/23) 1.50 X X 0 0 0 GERMAINE SMITH-BAUGH 2ND VICE CHAIR 1.50 X X 0 0 0 JUDITH RIMBEY TREASURER, BOARD MEMBER 2.00 X X 0 0 0 VICTOR RIVERA SECRETARY 1.50 X X 0 0 0 ANA CASTILLA BOARD MEMBER 0.50 X 0 0 0 ANNIE NEASMAN BOARD MEMBER 0.50 X 0 0 0 DAVID R PUNZAK BOARD MEMBER 0.50 X 0 0 0 ERNEST CONEY BOARD MEMBER 0.50 X 0 0 0 JACK HUMBURG BOARD MEMBER 1.50 X 0 0 0 JOHN TALMADGE BOARD MEMBER 0.50 X 0 0 0 TINA BROWN BOARD MEMBER 1.50 X 0 0 0 1669752 0 182033 11 0 1 0 0 6400000 1298288 7698288 LOAN INTEREST AND FEES 522291 6976936 6976936 6976936 359735 359735 150848 0 150848 150848 150848 15185807 6976936 0 510583 915530 614913 220217 80400 1376786 924713 331168 120905 211963 142364 50985 18614 140265 94208 33740 12317 207946 139666 50019 18261 15463 15463 77510 77510 14485 14485 582061 565118 16227 716 59549 28288 31261 268695 181162 69310 18223 315539 229298 63176 23065 1986366 1986366 44579 32395 8925 3259 PROVISION FOR LOAN LOSS 1417771 1417771 LOAN FORGIVENESS EXPENS 300000 300000 MEMBERSHIP AND TRAINING 66435 66435 106054 106054 8106997 6828751 951225 327021 1155 1342 33794542 33656553 93590076 112218010 49137 44160 398223 223228 175901 174995 76048 92392 1511035 185242 206056 127872101 147904543 944947 1182050 2240000 6260520 66598644 73804737 11750000 13274891 81533591 94522198 X 45977059 47741333 361451 5641012 46338510 53382345 127872101 147904543 7078810 -34975 0 X 0 1 X 1 1 1 X 4880000 3300600 1612250 2895520 7698288 20386658 4880000 3300600 1612250 2895520 7698288 20386658 3093486 17293172 230547 355008 219149 141321 359735 1305760 21692418 13300190 0.79720 0.72130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 30000 0 0 30000 0 PART II-B, LINE 1, LOBBYING ACTIVITIES: FCLF CONDUCTS PERMITTED LOBBYING ACTIVITIES, INCLUDING USE OF A PAID CONSULTING FIRM, TO ASSIST WITH WORK IN FEDERAL AND STATE OF FLORIDA LEGISLATIVE OFFICES FOR THE CONTINUED ADVOCACY OF PROGRAMS THAT BENEFIT THE CDFI INDUSTRY (E.G., CDFI FUND APPROPRIATIONS, NEW MARKETS TAX CREDIT PROGRAM, BOND GUARANTEE PROGRAM) AND FLORIDA'S UNDERSERVED COMMUNITIES (E.G., AFFORDABLE & SUPPORTIVE HOUSING APPROPRIATIONS, HEALTHY FOOD ACCESS). 60521 20246 40275 337702 202982 134720 174995 EQUITY EQUIV INV PAY (EQ2) 11750000 OPERATING LEASE OBLIGATIONS 1524891 13274891 X 15233104 -34975 96757 61782 15171322 14485 14485 15185807 8189269 96757 96757 8092512 14485 14485 8106997 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC AND FROM STATE INCOME TAXES UNDER SIMILAR PROVISIONS OF THE FLORIDA STATUTES. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. IN ADDITION, MANAGEMENT ASSESSED WHETHER THERE WERE ANY UNCERTAIN TAX POSITIONS WHICH MAY GIVE RISE TO INCOME TAX LIABILITIES AND DETERMINED THAT THERE WERE NO SUCH MATTERS REQUIRING RECOGNITION IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE LOAN FUND IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION BY THE U.S. FEDERAL AND STATE TAX AUTHORITIES FOR YEARS BEFORE 2019. X X X X 0 0 0 0 0 0 0 1 0 IGNACIO ESTEBAN CHIEF EXECUTIVE OFFICER 257847 0 51575 0 0 0 7565 0 18977 0 335964 0 0 0 NELSON BLACK CHIEF LENDING OFFICER 215904 0 42700 0 0 0 19600 0 0 0 278204 0 0 0 TAMMY THOMAS CHIEF FINANCIAL OFFICER 215430 0 41600 0 0 0 3299 0 14621 0 274950 0 0 0 JOY BEATON DIR OF GOV'T RELATIONS 161945 0 35200 0 0 0 18007 0 93 0 215245 0 0 0 JAMES WALKER COMM DEV LOAN OFFICER 125247 0 25500 0 0 0 16369 0 4034 0 171150 0 0 0 JANET DEGUEHERY COMM & MKG MGR 109940 0 22100 0 0 0 19600 0 0 0 151640 0 0 0 PART I, LINE 7 THE EXECUTIVE COMMITTEE OF FCLF'S BOARD APPROVED OVERALL BONUS POOL. THE EXECUTIVE COMMITTEE ALSO APPROVED BONUS PAYMENT TO CEO, WHICH WAS DETERMINED BY THE COMMITTEE INDEPENDENTLY OF THE CEO. ALL OTHER BONUS PAYMENTS WERE BASED ON MANAGER'S RECOMMENDATION AND CEO APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE CFO PRESENTS THE FORM 990 TO THE BOARD OF DIRECTORS AND FINANCE COMMITTEE ELECTRONICALLY FOR REVIEW AND COMMENTS BEFORE FILING. ALL BOARD MEMBERS ARE PROVIDED A FULL COPY OF FORM 990. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS CONTINUOUSLY REVIEWED AND MAINTAINED AT ALL BOARD AND COMMITTEE MEETINGS. FOR EXAMPLE, BEFORE A CREDIT MEMO IS PRESENTED FOR APPROVAL, ANY PARTY WITH A CONFLICT DISCLOSES THE NATURE OF THE CONFLICT AND ABSTAINS FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 PERIODICALLY, THE ORGANIZATION PERFORMS A COMPLETE SALARY COMPENSATION REVIEW CONDUCTED BY A CONSULTANT AND REVIEWED/APPROVED BY THE EXECUTIVE COMMITTEE (SERVING AS THE COMPENSATION COMMITTEE). THE LAST SALARY REVIEW WAS COMPLETED IN MAY 2023, WITH STAFF SALARIES (INCLUDING CEO) RESET TO MARKET RATES AS NEEDED. ANNUALLY, THE ALLOWED SALARY RANGES FOR ALL POSITIONS ARE ADJUSTED BASED ON TRENDS IN NATIONAL SALARY BUDGETS, WITH DATA PROVIDED BY CONSULTANT. FORM 990, PART VI, SECTION C, LINE 18 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH BY IRC SECTION 6104(D). FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH BY IRC SECTION 6104(D).