2024-10-29T13:49:00-05:00 2023-12-31 221478099 COHNREZNICK LLP 525 NORTH TRYON STREET CHARLOTTE NC 28202 990 2023-01-01 030264092 COOPERATIVE FUND OF THE NORTHEAST INC COOP 8008187833 PO BOX 970 WATERTOWN MA 02471 MICHA JOSEPHY EXECUTIVE DIRECTOR 8008187833 2024-10-28 1 1 LORI ROTHE YOKOBOSKY CPA P01273422 7043329100 2024-10-08 2023 2024-10-15 13:58:12Z KIMBERLY R LYLE PO BOX 970 WATERTOWN MA 02471 4114478 0 X WWW.COOPERATIVEFUND.ORG X 1975 MA TO ADVANCE COMMUNITY BASED, COOPERATIVE AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES. 11 11 15 12 0 0 2941650 1642492 1659226 2242412 167456 229574 0 0 4768332 4114478 11000 0 0 0 1134060 1483041 0 0 23474 1521189 1755528 2666249 3238569 2102083 875909 47930923 50443237 35160069 36796474 12770854 13646763 : CFNE'S MISSION IS TO WORK FOR ECONOMIC, SOCIAL, AND RACIAL JUSTICE BY ADVANCING COMMUNITY BASED, COOPERATIVE, AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES. 0 0 2694130 2242412 IN FURTHERANCE OF THIS MISSION, CFNE MAKES LOANS, PROVIDES OTHER ALTERNATIVE FINANCING, AND OFFERS TECHNICAL ASSISTANCE TO COOPERATIVE ORGANIZATIONS AND SIMILAR ENTERPRISES WITH A PREFERENCE TO ASSISTING COOPERATIVES IN LOW INCOME COMMUNITIES, AND BY OFFERING AN INVESTMENT OPPORTUNITY THAT PROMOTES SOCIALLY CONSCIOUS ENTERPRISE. 2694130 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 405 0 1 15 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 0 0 1 1 1 1 1 1 1 0 MA X X MICHA JOSEPHY 8008187833 PO BOX 970 WATERTOWN MA 02471 ALIANA PINEIRO TRUSTEE 4.00 X 0 0 0 AMETHYST CAREY TRUSTEE 4.00 X 5000 0 0 ANDY DANFORTH TREASURER 4.00 X X 0 0 0 BONNIE HUDSPETH VICE-PRESIDENT 4.00 X X 3333 0 0 CLARK ARRINGTON TRUSTEE 4.00 X 0 0 0 DANIEL ROSS TRUSTEE 4.00 X 0 0 0 DUKE BOUCHARD TRUSTEE 4.00 X 0 0 0 JON RESKE TRUSTEE 4.00 X 0 0 0 JONAH FERTIG-BURD CLERK 4.00 X X 0 0 0 JUAN LEYTON TRUSTEE 4.00 X 0 0 0 KIMBERLY R LYLE PRESIDENT 4.00 X X 5000 0 0 MARILYN SCHOLL OUTGOING TRUSTEE 4.00 X 0 0 0 MATTHEW FEINSTEIN OUTGOING TRUSTEE 4.00 X 0 0 0 SUSAN ELLIS OUTGOING TRUSTEE 4.00 X 0 0 0 DORIAN GREGORY DEPUTY EXECUTIVE DIRECTOR 40.00 X 136600 0 9948 MICHA JOSEPHY EXECUTIVE DIRECTOR 40.00 X 148960 0 10319 CAROLYN EDSELL-VETTER PROGRAM DIRECTOR 40.00 X 108280 0 9098 407173 0 29365 3 0 1 0 WARNER NORCROSS JUDD LLP 150 OTTAWA AVE NW SUITE 1500 GRAND RAPIDS MI 49503 LEGAL SERVICES 146813 1 1360047 282445 1642492 INTEREST ON PROGRAM LO 900099 2115546 2115546 OTHER PROGRAM LOAN FEE 900099 126866 126866 2242412 229574 229574 4114478 2242412 0 229574 319160 223412 92556 3192 1010416 707291 293021 10104 17662 12363 5122 177 37032 25922 10740 370 98771 69139 28644 988 164512 136545 27967 32263 26778 5485 102713 86099 9832 6782 31245 31245 16544 11784 2899 1861 60644 45483 15161 86021 64516 21505 644817 644817 9297 4648 4649 TECHNICAL ASSISTANCE 395557 395557 UNFUNDED COMMITMENT EXP 181513 181513 ADDITION TO LOSS RESERV 16867 16867 DUES AND SUBSCRIPTIONS 8684 6513 2171 4851 3638 1213 3238569 2694130 520965 23474 3964041 7968989 15503694 4388840 61250 89714 28384241 37857997 78947 76447 47930923 50443237 352211 370760 524233 1499328 88545 212891 34195080 34713495 35160069 36796474 X 12440434 13316343 330420 330420 12770854 13646763 47930923 50443237 875909 0 X 0 1 X 1 0 X 947116 250006 1360869 2941650 1642492 7142133 947116 250006 1360869 2941650 1642492 7142133 7142133 167645 134384 122725 167456 229574 821784 7963917 8124172 0.89680 0.90490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 SOCIAL INVESTMENT NOTES, LOANS PAYABLE AND SUBORDINATE DEBT 34531982 OTHER ACCRUED LIABILITIES 181513 34713495 X 4114478 0 4114478 0 4114478 3238569 0 3238569 0 3238569 PART X, LINE 2: CFNE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND COMPARABLE STATE STATUTES. CFNE DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. ALL NONPROFIT CORPORATIONS ARE REQUIRED TO FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THERE ARE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, CFNE DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. INCOME TAX RETURNS FILED BY CFNE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2020 REMAIN OPEN. X X X 0 0 0 0 0 0 0 1 0 MICHA JOSEPHY EXECUTIVE DIRECTOR 147960 0 1000 0 0 0 4469 0 5850 0 159279 0 0 0 PART I, LINE 7 INCLUDED IN COLUMN B(II) ARE AMOUNTS REPRESENTING BONUSES. THESE AMOUNTS WERE APPROVED BY THE BOARD AND INCLUDED IN THE INDIVIDUAL'S W-2. BONNIE HUDSPETH VICE PRESIDENT, BOARD OF TRUSTEES SUPPORT OF MISSION X 5000 5694 0 1 1 MATTHEW FEINSTEIN FORMER MEMBER BOARD OF TRUSTEES SUPPORT OF MISSION X 78000 59052 0 1 1 MICHA JOSEPHY EXECUTIVE DIRECTOR SUPPORT OF MISSION X 2000 3050 0 1 1 SUSAN ELLIS FORMER MEMBER BOARD OF TRUSTEES SUPPORT OF MISSION X 2000 21570 0 1 1 ALIANA PINEIRO MEMBER, BOARD OF TRUSTEES OF CFNE AND EMPLOYEE OF INVESTOR SUPPORT OF MISSION X 100000 123525 0 1 1 212891 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE REVIEWS THE FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY BOARD AND KEY EMPLOYEES RESUBMIT FORMS DESIGNED TO IDENTIFY ALL CONFLICTS AND POTENTIAL CONFLICTS. ONCE COLLECTED ALL CONFLICTS ARE ADDRESSED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS EXECUTIVE DIRECTOR PERFORMANCE AND COMPENSATION AT OTHER COMPARABLE ENTITIES. THE BOARD THEN APPROVES EXECUTIVE COMPENSATION FOR THE COMING YEAR AND ADOPTS THAT FIGURE INTO THE BUDGET. COMPENSATION OF OTHER EMPLOYEES IS DETERMINED BY THE BOARD AND THE EXECUTIVE DIRECTOR ANNUALLY AND INCORPORATED INTO THE BUDGET. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 IS AVAILABLE ONLINE AT GUIDESTAR.ORG. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. COOPERATIVE CAPITAL FUND OF NEW ENGLAND PO BOX 970 WATERTOWN MA 02471 208980039 FINANCIAL AND EDUCATIONAL ASSISTANCE TO NONPROFITS MA 501(C)(3) LINE 7 CFNE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0