2024-12-03T16:53:02-06:00 2024-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2023-07-01 222524015 NEW HAMPSHIRE COMMUNITY LOAN FUND INC NEWH 6032246669 7 WALL STREET CONCORD NH 03301 STEVE SALTZMAN PRESIDENT AND CEO 6032246669 2024-11-07 1 1 MATTHEW MCGINNIS CPA P01585083 5083669100 2024-11-07 2023 2024-10-15 13:58:12Z STEVE SALTZMAN 7 WALL STREET CONCORD NH 03301 28234948 0 X WWW.COMMUNITYLOANFUND.ORG X 1983 NH OUR MISSSION IS TO PROVIDE SYSTEMATICALLY EXCLUDED PEOPLE AND COMMUNITIES, IN NEW HAMPSHIRE AND BEYOND, WITH THE FINANCIAL, HUMAN, AND CIVIC RESOURCES THEY NEED TO BE ECONOMICALLY SECURE. WE DO THIS BY PROVIDING LOANS, CAPITAL, AND COACHING;COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS ANDPUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TOSOLVE PROBLEMS. OUR CORE FOCUS AREAS ARE AFFORDABLE HOMEOWNERSHIP, QUALITY JOB CREATION AND PRESERVATION, ENERGY EFFICIENCY SOLUTIONS, AND ACCESS TO CHILDCARE.ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRSTCOMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION AND ISRECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT,FINANCIAL STRENGTH, AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHESTHONOR IN OUR FIELD. 17 16 62 21 0 0 3518824 10855047 10876065 14536098 252142 859613 93632 1764593 14740663 28015351 553124 6889013 0 0 5387653 5971173 0 0 409740 6340559 7824827 12281336 20685013 2459327 7330338 189182393 220225049 148233689 163402410 40948704 56822639 X OUR MISSSION IS TO PROVIDE SYSTEMATICALLY EXCLUDED PEOPLE AND COMMUNITIES, IN NEW HAMPSHIRE AND BEYOND, WITH THE FINANCIAL, HUMAN, AND CIVIC RESOURCES THEY NEED TO BE ECONOMICALLY SECURE.WE DO THIS BY PROVIDING LOANS, CAPITAL AND TECHNICAL ASSISTANCE; COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS AND PUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TO SOLVE PROBLEMS.ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRST COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION AND IS RECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT, FINANCIAL STRENGTH AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE 2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHEST HONOR IN OUR FIELD. 1 0 4362675 6500 12822397 AFFORDABLE HOUSING - SEE SCHEDULE O 5435694 CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O 9418664 6882513 3278528 BUSINESS FINANCE - SEE SCHEDULE O 143040 183415 1. SINCE 1984, OUR COMMUNITY SERVICES FINANCING HAS SUPPORTED ESSENTIAL SERVICES, INCLUDING CENTER- AND HOME-BASED CHILD DEVELOPMENT SERVICES, BY HELPING NONPROFIT ORGANIZATIONS BUY, RENOVATE, OR BUILD FACILITIES. THE COMMUNITY LOAN FUND HAS MADE 136 COMMUNITY SERVICES LOANS TOTALING OVER $36.8 MILLION. IN FY2024, THE COMMUNITY LOAN FUND MADE 3 COMMUNITY SERVICES LOANS FOR $876,000.2. SINCE 2023, USDA IS PARTNERING WITH THE COMMUNITY LOAN FUND TO MAKE AVAILABLE $186,705,000 IN GRANTS THROUGH TWO NATION-WIDE PROGRAMS: THE LOCAL MEAT CAPACITY GRANT PROGRAM AND THE MEAT AND POULTRY PROCESSING EXPANSION PROGRAM. THE PROGRAMS AIM TO PROMOTE FAIRER, MORE COMPETITIVE AND MORE RESILIENT MEAT AND POULTRY SUPPLY CHAINS. THE COMMUNITY LOAN FUND WILL HELP USDA ADMINISTER THE PASS THROUGH GRANTS OVER SIX YEARS (2024-2029). THESE REGRANTING ACTIVTIES ARE MANAGED UNDER THE COMMUNITY LOAN FUND'S SUSTAINABLE FOOD SYSTEMS PROGRAM (SFSP). IN FY2024, THE COMMUNITY LOAN FUND DISBURSED $6,882,513 IN PASS THROUGH GRANTS. 11985 OTHER PROGRAMS 143040 195400 19360073 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 534 0 1 62 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X BONNIE SCADOVA 6032246669 7 WALL STREET CONCORD NH 03301 STEVE SALTZMAN PRESIDENT & CEO 40.00 X X 217829 0 31824 KATHLEEN REARDON TREASURER 1.00 X X 0 0 0 JAMIE RICHARDSON BOARD CHAIR 1.00 X X 0 0 0 ANDRE GARRON VICE TREASURER 1.00 X X 0 0 0 BETSY MCNAMARA CHAIR (UNTIL 12/23) 1.00 X X 0 0 0 SID PRABHAKAR VICE CHAIR 1.00 X X 0 0 0 KIM CAPEN VICE TREASURER (UNTIL 12/23) 1.00 X X 0 0 0 JIM KEROUAC SECRETARY 1.00 X X 0 0 0 LIZ LAROSE VICE SECRETARY 1.00 X X 0 0 0 PAULA ROGERS SECRETARY (UNTIL 12/23) 1.00 X X 0 0 0 MICHAEL SWACK EMERITUS 1.00 X 0 0 0 ALI SEKOU MEMBER 1.00 X 0 0 0 DON BRUEGGEMANN MEMBER 1.00 X 0 0 0 MARK FICKLE MEMBER 1.00 X 0 0 0 JOSEPH GERAKOS MEMBER 1.00 X 0 0 0 PAMELA ROTHGABER MEMBER 1.00 X 0 0 0 VICTORIA STAUNCHES MEMBER 1.00 X 0 0 0 COLBY MEEHAN MEMBER 1.00 X 0 0 0 LIONEL LOVELESS MEMBER 1.00 X 0 0 0 RUDY GLOCKER MEMBER 1.00 X 0 0 0 ALLISON GRAPPONE MEMBER (UNTIL 11/23) 1.00 X 0 0 0 PAM LAFLAMME MEMBER (UNTIL 12/23) 1.00 X 0 0 0 BONNIE SCADOVA CHIEF FINANCIAL OFFICER 40.00 X 193243 0 29471 KATHARINE COTE VP OF EXTERNAL RELATIONS 40.00 X 112759 0 20686 SARAH MARCHANT CHIEF OF STAFF & VP OF ROC 40.00 X 154757 0 33176 KATHLEEN PARADIS VP OF RESIDENTIAL LENDING & COMPLIANCE 40.00 X 109475 0 36940 LORI ALBERT CONTROLLER 40.00 X 101883 0 27685 889946 0 179782 6 0 1 0 0 1320 9704352 1149375 298930 10855047 INTEREST FROM LOANS 531390 11596558 11596558 GRANT ADMINISTRATION FEES 531390 2451348 2451348 LOAN RELATED FEES 531390 425104 425104 TRAINING AND OTHER FEES 531390 63088 63088 14536098 888436 888436 3750 0 3750 3750 3750 167360 196183 -28823 -28823 -28823 27780 1320 23414 4366 4366 PROGRAM RELATED DEV. INVEST. 900099 1756477 1756477 1756477 28015351 16296325 0 863979 6889013 6889013 519356 307013 186375 25968 4365957 3997510 155992 212455 243580 224253 7400 11927 487597 440073 24771 22753 354683 314621 23062 17000 114766 108670 5467 629 105305 76196 26068 3041 91038 91038 834470 669761 146904 17805 8373 8352 19 2 603538 436189 80734 86615 43087 32367 9508 1212 150756 85565 63065 2126 140226 131210 8030 986 47943 46964 872 107 4510318 4510318 261162 150639 106919 3604 142163 83480 56770 1913 LOAN LOSS PROVISION 536805 536805 STAFF TRAINING 104537 89696 13244 1597 TECHNICAL ASSISTANCE 74833 74833 PROVISION FOR CREDIT LO 55507 55507 20685013 19360073 915200 409740 14123354 20359033 993131 1369819 680746 822166 176118 257591 6433468 2980931 3656870 3452537 2589240 2000647 166802934 191898256 160000 65000 189182393 220225049 1991377 2191268 204522 186958 133388919 149332953 12648871 11691231 148233689 163402410 X 32771274 44364266 8177430 12458373 40948704 56822639 189182393 220225049 X 7330338 -274499 8818096 X X 0 1 X 1 1 1 X 2630489 2857705 4915040 2626783 10855047 23885064 2630489 2857705 4915040 2626783 10855047 23885064 5878 23879186 325648 200388 189911 265142 892186 1873275 25758339 58881582 0.92700 0.89370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2417 88621 91038 20589841 20680879 1000000 250000 0 0 696338 696509 764067 1000000 3156914 4735371 250 58375 85735 91038 235398 174085 174127 191017 250000 789229 1183844 17475 2977 2417 22869 0 0 321461 321461 4968816 2092940 2875876 1143191 887991 255200 3452537 LOANS RECEIVABLE 186603825 C ROC USA 5029452 F OTHER PROGRAM-RELATED EQUITY INVESTMENTS 264979 F 191898256 EQUITY EQUIVALENTS PAYABLE 11600000 NON-RECOURSE PARTICIPATION 35724 ALLOWANCE FOR UNFUNDED COMMITMENTS - CREDIT LOSSES 55507 11691231 X 15776757 -274499 -11987509 -12262008 28038765 -23414 -23414 28015351 8716784 23414 23414 8693370 11991643 11991643 20685013 PART X, LINE 2: THE COMMUNITY LOAN FUND ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COMMUNITY LOAN FUND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS AT JUNE 30, 2024. THE COMMUNITY LOAN FUND'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANT EXPENSE -6,889,013. INTEREST EXPENSE -4,510,318. LOAN LOSS PROVISION -592,312. RETURNED GRANT 4,134. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -23,414. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 23,414. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS EXPENSE 6,889,013. INTEREST EXPENSE 4,510,318. 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X X X X 0 0 0 0 0 0 0 0 0 STEVE SALTZMAN PRESIDENT & CEO 217829 0 0 0 0 0 10993 0 20831 0 249653 0 0 0 BONNIE SCADOVA CHIEF FINANCIAL OFFICER 182243 0 11000 0 0 0 9947 0 19524 0 222714 0 0 0 SARAH MARCHANT CHIEF OF STAFF & VP OF ROC 143007 0 11750 0 0 0 8201 0 24975 0 187933 0 0 0 X 5 50725 FMV 0 1 0 FORM 990, PART III, LINE 4A: THREE COMMUNITY LOAN FUND PROGRAMS ADDRESS N.H.'S NEED FOR HOUSING FOR WORKING FAMILIES, SENIORS, AND FAMILIES WITH LOW INCOMES. 1. ROC-NH PROVIDES LOANS, ALONG WITH EDUCATIONAL AND TECHNICAL ASSISTANCE, TO BUILD LONG-TERM VALUE AND SECURITY FOR RESIDENTS OF N.H.'S MANUFACTURED-HOME COMMUNITIES BY HELPING THEM PURCHASE, MANAGE, AND IMPROVE THEIR COMMUNITIES AS COOPERATIVE CORPORATIONS. AS OF JUNE 30, 2024, 150 RESIDENT-OWNED COMMUNITIES IN N.H. WERE HOME TO 9,053 (PRIMARILY LOW-INCOME) HOUSEHOLDS. DURING FISCAL YEAR 2024, THE COMMUNITY LOAN FUND MADE 23 LOANS TOTALING NEARLY $13.8 MILLION. IN DOING SO, IT PRESERVED 145 HOUSING UNITS AND PROVIDED 15,022 HOURS OF TECHNICAL ASSISTANCE TO RESIDENT-OWNED COMMUNITIES. 2. BECAUSE THEY ARE RELATIVELY AFFORDABLE AND AVAILABLE IN RURAL COMMUNITIES, MANUFACTURED HOMES ARE, FOR SOME N.H. FAMILIES, THE HOUSING OPTION OF LAST RESORT. THEY ALSO PROVIDE AN AFFORDABLE OPTION FOR OLDER COUPLES WHO ARE DOWNSIZING, YOUNG COUPLES BEGINNING FAMILIES, AND ADULTS WITH DISABILITIES WHO WISH TO LIVE INDEPENDENTLY. THE COMMUNITY LOAN FUND'S WELCOME HOME LOANS PROVIDE REAL FIXED-RATE MORTGAGE PRODUCTS FOR BUYERS OF MANUFACTURED HOMES WHO OWN THE LAND THE HOUSE WILL OCCUPY, OR WHO HAVE SECURED THE LAND THROUGH COOPERATIVE OWNERSHIP. THE GREAT MAJORITY OF THESE BUYERS DON'T HAVE ACCESS TO CONVENTIONAL MORTGAGE LOANS OR LACK THE SAVINGS FOR DOWN PAYMENT AND CLOSING COSTS. IN MAKING 1,987 LOANS TOTALING MORE THAN $104.9 MILLION SINCE 2002, WELCOME HOME LOANS HAVE SHOWN THESE BORROWERS TO BE BETTER-THAN-AVERAGE RISKS, WITH A CUMULATIVE LOSS RATE OF JUST 2.27%. DURING FY2024, WELCOME HOME LOANS PROVIDED NEARLY $9.1 MILLION IN FINANCING TO 77 BORROWERS. INCLUDED IN THAT NUMBER ARE HOMEOWNER ASSISTANCE LOANS TO HELP BUYERS WITH LOW INCOMES COVER CLOSING COSTS FOR NEW HOMES, OR PURCHASE EXISTING HOMES. IN 2009, OUR WELCOME (THEN CALLED COOPERATIVE) HOME LOANS EARNED THE COMMUNITY LOAN FUND THE HIGHEST HONOR GIVEN TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS: THE NEXT AWARD FOR OPPORTUNITY FINANCE. THE PROGRAM'S STRONG PERFORMANCE HAS ALSO ATTRACTED OTHER CONVENTIONAL RESIDENTIAL LENDERS, INCLUDING USDA, NH HOUSING FINANCE AUTHORITY AND FANNIE MAE, TO THIS EMERGING MARKET. 3. THE MULTI-FAMILY HOUSING PROGRAM PROVIDES LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT HOUSING DEVELOPMENT ORGANIZATIONS, WITH THE GOALS OF EXPANDING N.H.'S SUPPLY OF INCREASINGLY SCARCE AFFORDABLE HOUSING AND KEEPING IT PERMANENTLY AFFORDABLE. SINCE 1989, THE COMMUNITY LOAN FUND HAS MADE 191 LOANS TOTALING NEARLY $36 MILLION, RESULTING IN THE CREATION OR PRESERVATION OF 1,978 AFFORDABLE APARTMENTS VALUED AT OVER $301.2 MILLION. MULTI-FAMILY HOUSING HAS ALSO HELPED CREATE AND NURTURE A NOW-MATURE NETWORK OF NONPROFIT DEVELOPERS, WHILE ASSISTING COMMUNITY GROUPS TACKLING THEIR FIRST PROJECTS, TO CREATE CAPACITY IN ONE OF THE LEAST-AFFORDABLE STATES IN THE NATION. FORM 990, PART III, LINE 2 ON JANUARY 30, 2024, THE COMMUNITY LOAN FUND ACQUIRED THE ASSETS AND PROGRAMS OF NORTHERN COMMUNITY INVESTMENT CORPORATION (NCIC), A CDFI THAT PROVIDES COMMERCIAL LOANS AND ECONOMIC DEVELOPMENT SERVICES IN NORTHERN NEW HAMPSHIRE AND IN THE NORTHEAST KINGDOM OF VERMONT. THIS COLLABORATION CONNECTS TWO LONG-SERVING COMMUNITY DEVELOPMENT ORGANIZATIONS AND ALLOWS THE COMMUNITY LOAN FUND TO DEEPEN ITS COMMITMENT TO THE REGION AND EXPAND OUR SERVICES. NCIC NOW OPERATES AS A PROGRAM OF THE COMMUNITY LOAN FUND UNDER A NEW REGISTERED TRADE NAME, NORTHERN COMMUNITY INVESTMENT CAPITAL. THREE OF NCIC'S FIVE REMAINING STAFF JOINED THE STAFF OF THE COMMUNITY LOAN FUND. FORM 990, PART III, LINE 4B: THE COMMUNITY LOAN FUND IS ROOTED IN TWO BELIEFS: THE FIRST IS THAT SOME FINANCIAL OBSTACLES PEOPLE FACE ARE NOT DUE SOLELY TO LOW INCOMES, BUT ALSO TO LACK OF CREDIT. THE SECOND IS THAT MANY PEOPLE WITH CAPITAL WILL INVEST IN BASIC HUMAN NEEDS IF THERE IS A WAY TO DO SO. THE PHILANTHROPY PROGRAM WORKS ON THE SECOND PART OF THAT EQUATION. IT SEEKS TO MAKE ITS OPPORTUNITY NH INVESTMENTS A CONDUIT THROUGH WHICH PEOPLE, ORGANIZATIONS, FOUNDATIONS, AND CORPORATIONS SAFELY AND SECURELY INVEST IN N.H.'S PEOPLE AND COMMUNITIES. THE COMMUNITY LOAN FUND IS A RARITY AMONG COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN ACCEPTING INVESTMENTS IN THE FORM OF UNSECURED LOANS FROM PRIVATE INDIVIDUALS, AS WELL AS FROM INSTITUTIONS LARGE AND SMALL. INVESTMENTS ARRIVE FROM RETIREES AND COMMUNITY CHURCH GROUPS, ALL THE WAY UP TO NATIONAL FOUNDATIONS. A ROBUST EQUITY POOL HELPS THE COMMUNITY LOAN FUND MAINTAIN A 100% REPAYMENT RECORD TO ITS INVESTORS. IT'S THE "SHOCK ABSORBER" THAT CUSHIONS THEIR MONEY AGAINST THE RARE BORROWER LOAN THAT ISN'T REPAID. INVESTMENTS IN THE COMMUNITY LOAN FUND RANGE FROM $1,000 TO $7.5 MILLION. THE PHILANTHROPY PROGRAM BROUGHT IN OVER $18 MILLION FROM 20 NEW INVESTMENTS IN FY2024, BRINGING THE NUMBER OF CURRENT INVESTORS TO 634. FORM 990, PART III, LINE 4C: THE COMMUNITY LOAN FUND OFFERS FINANCING FOR ESTABLISHED BUSINESSES RANGING FROM SELF-EMPLOYED TRADESMEN TO HIGH-GROWTH, HIGH-MARGIN COMPANIES. SINCE 1984, OUR BUSINESS FINANCE PROGRAM HAS PROVIDED LOANS, INVESTMENTS, AND COACHING TO SUPPORT THE GROWTH AND RESILIENCE OF SMALL BUSINESSES AND THEIR ABILITY TO PROVIDE QUALITY JOBS. RECENT YEARS HAVE BROUGHT A SPECIAL FOCUS ON FARM AND FOOD-RELATED COMPANIES AND THOSE OWNED BY ENTREPRENEURS OF COLOR BECAUSE OF THEIR DIFFICULTY SECURING CONVENTIONAL FINANCING. SINCE 1996, OUR BUSINESS FINANCE TEAM HAS MADE 784 LOANS AND INVESTMENTS AND LOANS, TOTALING OVER $48.2 MILLION AND PRESERVING OR CREATING 2,948 JOBS. IN FY 2024, OUR BUSINESS FINANCE TEAM PROVIDED 9 LOANS TOTALING MORE THAN $6.5 MILLION, CREATING OR PRESERVING 388 JOBS. IN JANUARY 2024, THE COMMUNITY LOAN FUND ACQUIRED THE ASSETS AND PROGRAMS OF NORTHERN COMMUNITY INVESTMENT CORPORATION (NCIC), A PEER CDFI THAT PROVIDES COMMERCIAL LOANS AND ECONOMIC DEVELOPMENT SERVICES IN NORTHERN NEW HAMPSHIRE AND IN THE NORTHEAST KINGDOM OF VERMONT. THIS COLLABORATION CONNECTS TWO LONG-SERVING COMMUNITY DEVELOPMENT ORGANIZATIONS AND ALLOWS THE COMMUNITY LOAN FUND TO DEEPEN ITS COMMITMENT TO THE REGION AND TO EXPAND SERVICES. NCIC NOW OPERATES AS A PROGRAM OF THE COMMUNITY LOAN FUND UNDER A NEW REGISTERED TRADE NAME, NORTHERN COMMUNITY INVESTMENT CAPITAL. OVER FIVE MONTHS IN FY2024, NCIC PROVIDED 14 LOANS TOTALING NEARLY $1.6 MILLION, CREATING OR PRESERVING 85 JOBS IN NORTHERN N.H. AND IN THE NORTHEAST KINGDOM OF V.T.. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY STAFF AND THE AUDIT FIRM. BEFORE FILING WITH THE IRS, A DRAFT OF THE COMPLETED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS AND IS REVIEWED IN DETAIL BY THE FINANCE COMMITTEE WITH QUESTIONS ADDRESSED AND RESOLVED BY THE AUDIT FIRM. THE FINANCE COMMITTEE VOTES TO ACCEPT THE FORM 990, AND MINUTES OF THE COMMITTEE MEETING ARE PRODUCED TO DOCUMENT THE REVIEW AND THE VOTE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES EMPLOYEES AND BOARD MEMBERS TO COMPLETE ANNUAL CONFLICT OF INTEREST SURVEYS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DATA REGARDING THE TWO TOP EXECUTIVE POSITIONS WAS GATHERED NATIONALLY, REGIONALLY AND LOCALLY. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWED THE COMPENSATION WITH ASSISTANCE FROM THE HUMAN RESOURCES MANAGER. AFTER A REVIEW OF THE DATA AND DISCUSSION BY THE EXECUTIVE COMMITTEE, IT WAS DETERMINED THAT BOTH POSITIONS ARE IN A REASONABLE RANGE WITH THE DATA REVIEWED AND THAT THE COMPENSATION FOR THE TWO POSITIONS IS APPROPRIATE. COPIES OF COMPARABILITY DATA ANALYSIS ARE ON FILE, AND RECORDS OF THE EXECUTIVE COMMITTEE MEETING ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE COMMUNITY LOAN FUND'S FORM 990, YEAR-END AUDITED FINANCIAL STATEMENTS AND ANNUAL REPORTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE POSTED ON THE ORGANIZATION'S WEBSITE FOR PUBLIC NSPECTION. BYLAWS AND CONFLICT OF INTEREST POLICIES ARE ALSO AVAILABLE TO THE PUBLIC UPON REQUEST. THIS IS STATED ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: NET ASSET TRANSFER - FROM NCIC ACQUISTION 8,403,132. CUMULATIVE ADJUSTMENT FROM ADOPTION OF CECL ON JULY 1, 2023 410,830. RETURNED GRANT 4,134. FORM 990, PART XII, LINE 2C: THE COMMUNITY LOAN FUND'S AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANTS. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 26 AND PART VI-A, LINE 1B: THE COMMUNITY LOAN FUND'S BYLAWS REQUIRE THE BOARD OF DIRECTORS TO INCLUDE REPRESENTATIVES OF BORROWER ORGANIZATIONS AND INVESTORS AMONG ITS MEMBERSHIP. DONATIONS AND INVESTMENTS ARE ACCEPTED FROM EMPLOYEES, FROM INDIVIDUAL BOARD MEMBERS, OR FROM ORGANIZATIONS OF WHICH CURRENT AND FORMER MEMBERS ARE SIGNIFICANT EMPLOYEES OR BOARD MEMBERS. ALL TRANSACTION DECISIONS FOLLOW STANDARD POLICIES AND PROCEDURES INCLUDING THOSE COVERING CONFLICT OF INTEREST. THE TRANSACTIONS ARE PART OF THE COMMUNITY LOAN FUND'S NORMAL COURSE OF BUSINESS AND ARE OPEN TO THE PUBLIC AT LARGE. FOUR EMPLOYEES HAVE PROVIDED INVESTMENTS OR HAVE FAMILY MEMBERS WHO HAVE PROVIDED INVESTMENTS TOTALING $76,181 TO THE COMMUNITY LOAN FUND AS OF JUNE 30, 2024. CALEDONIA COMMUNITY LOAN FUND HOLDINGS LLC 7 WALL STREET CONCORD NH 03301 TO HOLD TWO PARCELS OF INDUSTRIAL LAND TO BE TRANSFERRED TO NHCLF IN FY25 VT 0 0 NEW HAMPSHIRE COMMUNITY LOAN FUND INC HOUSING AFFORDABILITY PARTNERSHIP LLC 7 WALL STREET CONCORD NH 03301 934422741 PARTNER WITH NH NONPROFIT AFFORDABLE HOUSING DEVELOPERS UTILIZING THE LIHTC NH 0 0 NEW HAMPSHIRE COMMUNITY LOAN FUND INC