2025-01-21T09:12:40-06:00 2024-09-30 020327524 NATHAN WECHSLER & COMPANY PA 70 COMMERCIAL STREET 4TH FLOOR CONCORD NH 03301 990 2023-10-01 020455162 CAPITAL REGIONAL DEVELOPMENT COUNCIL CAPI 6034961875 20 MONTGOMERY STREET PO BOX 664 CONCORD NH 03301 RYAN AUDLEY PRESIDENT 6034961875 2025-01-15 1 0 ORESTE J MOSCA P00366101 6032245357 2025-01-15 2023 2024-10-15 13:58:12Z RYAN AUDLEY 20 MONTGOMERY STREET PO BOX 664 CONCORD NH 03301 1890957 0 X WWW.CRDC-NH.COM X 1954 NH TO PROVIDE ECONOMIC DEVELOPMENT SERVICES IN THE STATE OF NEW HAMPSHIRE. 7 7 5 8 0 0 41222 41222 933414 943959 35059 83045 0 0 1009695 1068226 0 0 0 0 699670 724241 0 0 0 221795 238880 921465 963121 88230 105105 14908735 14334114 4550104 3894694 10358631 10439420 THE ORGANIZATION'S MISSION IS PRIVATE SECTOR JOB CREATION/RETENTION AND PRIVATE PROPERTY TAX BASE ENHANCEMENT. CORE ACTIVITIES INCLUDE SMALL BUSINESS LENDING, REAL ESTATE DEVELOPMENT, AND ECONOMIC DEVELOPMENT CONSULTING. 0 0 568706 943959 CRDC OFFERS PROGRAMS FOR FINANCING SMALL BUSINESSES THROUGH A VARIETY OF BUSINESS LOAN PROGRAMS SOURCED FROM THE U.S. SMALL BUSINESS ADMINISTRATION, THE US DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT, THE US ENVIRONMENTAL PROTECTION AGENCY, THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. LENDING PROGRAMS ARE DESIGNED TO CREATE NEW JOBS OR PRESERVE EXISTING JOBS, EXPAND EXPORTS, AID RURAL DEVELOPMENT, INCREASE PRODUCTIVITY AND COMPETITIVENESS AND MODERNIZE OR UPGRADE FACILITIES TO MEET HEALTH, SAFETY AND ENVIRONMENTAL REQUIREMENTS. 568706 0 1 0 0 0 0 0 0 0 1 0 0 0 0 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 1 12 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NH X STEPHEN HEAVENER 6034961875 20 MONTGOMERY STREET PO BOX 664 CONCORD NH 03301 DAVID PETERSON VICE PRESIDENT 2.00 X X 0 0 0 JAMES GOODHUE DIRECTOR 2.00 X 0 0 0 JAMES LYNCH DIRECTOR 2.00 X 0 0 0 JANET ACKERMAN DIRECTOR 2.00 X 0 0 0 JOE CONWAY TREASURER 2.00 X X 0 0 0 KEN KOORNNEEF DIRECTOR 2.00 X 0 0 0 RYAN AUDLEY PRESIDENT 2.00 X X 0 0 0 THOMAS SULLIVAN SECRETARY 2.00 X X 0 0 0 STEPHEN A HEAVENER EXECUTIVE VICE PRESIDENT 40.00 X 196938 0 5383 JENNIFER BOULANGER SENIOR LOAN OFFICER 40.00 X 169781 0 4643 CHARLES GILBOY BUSINESS DEVELOPMENT AND LOAN OFFICER 40.00 X 103875 0 9963 470594 0 19989 3 0 1 0 0 41222 41222 FINANCING PROGRAM 522291 886335 886335 PROCESSING FEES 522291 50999 50999 CONSULTING INCOME 522291 6625 6625 943959 55635 55635 850141 822731 27410 27410 27410 1068226 943959 0 83045 X 381560 236204 145356 267240 150877 116363 8141 4791 3350 21242 12500 8742 46058 27462 18596 10201 6083 4118 38500 22956 15544 9325 9325 5223 3114 2109 3165 1887 1278 5659 3373 2286 25625 15279 10346 16604 9901 6703 6281 3745 2536 3352 1998 1354 51325 30603 20722 15306 9126 6180 19718 11757 7961 REPAIRS AND MAINTENANCE 15305 9126 6179 DUES AND SUBSCRIPTIONS 6316 3766 2550 OTHER TAXES AND FEES 3895 2322 1573 LOAN ADMINISTRATION 3080 1836 1244 963121 568706 394415 0 10111 0 4632721 4622593 45334 41822 8876796 8055016 608066 59444 519597 548622 816588 1058323 7588 7738 14908735 14334114 69000 73328 1881 4184066 3674907 295157 146459 4550104 3894694 X 4085926 4181453 6272705 6257967 10358631 10439420 14908735 14334114 X 105105 80271 -104587 X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 142354 142354 447942 44783 403159 17770 14661 3109 548622 X 1118204 80271 -20968 59303 1058901 9325 9325 1068226 1037415 83619 83619 953796 9325 9325 963121 PART X, LINE 2: THE ORGANIZATION QUALIFIES AS AN EXEMPT ORGANIZATION FROM INCOME TAX UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION; HOWEVER, CERTAIN UNRELATED BUSINESS INCOME IS SUBJECT TO FEDERAL TAXATION. FOR THE YEAR ENDED SEPTEMBER 30, 2024, THERE WAS NO LIABILITY FOR A TAX ON UNRELATED BUSINESS INCOME. THE ORGANIZATION HAS ADOPTED THE PROVISIONS OF FASB ASC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC 740). ACCORDINGLY, MANAGEMENT HAS EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THE ORGANIZATION HAD MAINTAINED ITS TAX-EXEMPT STATUS, DOES NOT HAVE ANY SIGNIFICANT UNRELATED BUSINESS INCOME AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT OR DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL OR STATE TAX AUTHORITIES FOR YEARS BEFORE 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE ADJUSTMENT -20,968. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 9,325. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE ADJUSTMENT 83,619. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 9,325. X X X X X 0 0 0 0 0 0 0 0 0 STEPHEN A HEAVENER EXECUTIVE VICE PRESIDENT 179438 0 17500 0 0 0 5383 0 0 0 202321 0 0 0 JENNIFER BOULANGER SENIOR LOAN OFFICER 154781 0 15000 0 0 0 4643 0 0 0 174424 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS IN DETAIL PRIOR TO FILING. QUESTIONS ARE ADDRESSED TO THE PREPARER AND RESOLVED IN A TIMELY MANNER. A FINAL DRAFT VERSION OF THE RETURN IS PROVIDED TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT LEAST ANNUALLY, EACH DIRECTOR AND OFFICER OF CAPITAL REGIONAL DEVELOPMENT COUNCIL (CRDC) COMPLETES A WRITTEN CONFLICT OF INTEREST DISCLOSURE. EACH DISCLOSURE IS MADE WITHIN 60 DAYS OF THE BEGINNING OF THE ORGANIZATION'S FISCAL YEAR AND FOR NEWLY ELECTED DIRECTORS AND OFFICERS, AT THE TIME OF THEIR ELECTION OR AT THE FIRST BOARD MEETING SUCH NEWLY ELECTED DIRECTOR OR OFFICER ATTENDS. THE CONFLICT OF INTEREST FORMS DISCLOSE ANY RELATIONSHIPS THE DIRECTOR OR OFFICER OR ANY MEMBER OF HIS OR HER IMMEDIATE FAMILY MAY HAVE WITH CRDC'S CLIENTS, SERVICE PROVIDERS, OR BORROWERS. THE DIRECTORS OR OFFICERS MUST RECUSE FROM VOTING ON OR PARTICIPATING IN THE DISCUSSION OF ANY CLIENT, SERVICE PROVIDER, OR BORROWER HE OR SHE HAS A RELATIONSHIP WITH UNLESS THEY ARE ASKED TO RESPOND TO SPECIFIC QUESTIONS FROM THE BOARD. NO DIRECTOR OR OFFICER ENTERS INTO A PECUNIARY BENEFIT TRANSACTION WITH CRDC UNLESS TWO-THIRDS MAJORITY OF THE BOARD APPROVES THE TRANSACTION (THE DIRECTOR OR OFFICER WITH THE PECUNIARY BENEFIT DOES NOT PARTICIPATE IN THE VOTE). IT IS THE INTENT OF CAPITAL REGIONAL DEVELOPMENT COUNCIL TO AVOID ANY CONFLICT OF INTEREST OR THE APPEARANCE OF ANY CONFLICT OF INTEREST IN ITS BUSINESS DEALINGS. ANY POTENTIAL CONFLICTS OF INTEREST THAT SURFACE ARE REVIEWED BY THE EXECUTIVE DIRECTOR AND IN SOME CASES THE ORGANIZATION'S LEGAL COUNSEL TO ENSURE THAT IF THERE IS A CONFLICT IT IS RESOLVED ACCORDINGLY. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMPENSATION COMMITTEE IS COMPRISED OF THE ORGANIZATION'S BOARD PRESIDENT, VICE PRESIDENT, SECRETARY AND TREASURER. IN FISCAL YEARS 2013, 2014 AND 2015 THE COMPENSATION COMMITTEE ENGAGED AN INDEPENDENT HUMAN RESOURCES CONSULTANT THAT PERFORMED A COMPREHENSIVE ANALYSIS OF THE COMPENSATION PACKAGES OF COMPARABLE ECONOMIC DEVELOPMENT AND NON-TRADITIONAL LENDING ORGANIZATIONS THROUGHOUT NEW ENGLAND. BASED ON THE FINDINGS OF THIS RESEARCH THE COMMITTEE HAS DETERMINED THAT IT SECURED SUFFICIENT BASELINE INFORMATION TO BE ABLE TO APPROPRIATELY SET EXECUTIVE COMPENSATION. THE INDEPENDENT CONSULTANT IS NO LONGER BEING ENGAGED. IN PREVIOUS YEARS THE HUMAN RESOURCE CONSULTANT PREPARED AND SENT OUT A COMPREHENSIVE SURVEY TO BOARD MEMBERS, BANKERS AND KEY COLLABORATORS SERVED BY THE ORGANIZATION TO GAUGE THE EFFECTIVENESS OF THE EXECUTIVE DIRECTOR IN REPRESENTING THE ORGANIZATION IN AN EFFECTIVE AND PROFESSIONAL MANNER. THE SURVEY HAS BEEN USED FOR MORE THAN SIX PREVIOUS FISCAL YEARS. THE COMPENSATION COMMITTEE HAS DETERMINED THAT IT HAS ESTABLISHED A SUFFICIENT BASE LINE OF INFORMATION ABOUT COMPENSATION PACKAGES FROM SIMILAR ORGANIZATIONS TO GUIDE APPROPRIATE CHANGES TO THE ANNUAL COMPENSATION PACKAGE OF THE EXECUTIVE DIRECTOR. THE PRIMARY DETERMINING FACTOR IMPACTING COMPENSATION IS NOW FOCUSED ON THE SUCCESS OF REACHING DETAILED AND QUANTIFIABLE GOALS IN THE BOARD OF DIRECTORS APPROVED ANNUAL WORK PLAN. FORM 990, PART VI, SECTION C, LINE 19 CAPITAL REGIONAL DEVELOPMENT COUNCIL'S FORM 990 IS AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION AT OUR PRIMARY BUSINESS LOCATION. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 3,114. MANAGEMENT AND GENERAL EXPENSES 2,109. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,223. FORM 990, PART XI, LINE 9: LOAN LOSS RESERVE ADJUSTMENT (NET) -104,587.