2024-11-06T19:33:22-05:00 2023-12-31 860257194 WALKER & ARMSTRONG LLP 1850 N CENTRAL AVE STE 400 PHOENIX AZ 850044624 990 2023-01-01 860837146 COMMUNITY INVESTMENT CORPORATION COMM 5205291766 2033 E GRANT RD TUCSON AZ 85719 DANIEL KNEE EXECUTIVE DIRECTOR 5205291766 2024-11-06 true true STEVEN L TAIT P00017643 6022301040 2024-11-06 2023 2024-10-15 13:58:12Z DANIEL KNEE 2033 E GRANT RD TUCSON AZ 85719 2069939 false X WWW.COMMUNITYINVESTMENTCORPORATION.COM X 1996 AZ TO CREATE A BETTER LIFE FOR THE RESIDENTS OF OUR COMMUNITY THROUGH VARIOUS PROGRAMS TARGETING ECONOMIC DEVELOPMENT OPPORTUNITIES. TO SECURE STRATEGIC INVESTMENTS IN OUR COMMUNITIES THAT SERVE PUBLIC PURPOSE, ENHANCE EMPLOYMENT OPPORTUNITIES, AND LEVERAGE ITS CAPITAL WITH A REASONABLE RATE OF RETURN. 3 3 23 3 0 28504494 1131098 585729 732427 21290 205138 21705 1276 29133218 2069939 25852405 460537 0 1905305 1808538 0 0 3200233 826016 30957943 3095091 -1824725 -1025152 7216465 6396809 2917219 3122715 4299246 3274094 X TO CREATE A BETTER LIFE FOR THE RESIDENTS OF OUR COMMUNITY THROUGH VARIOUS PROGRAMS TARGETING ECONOMIC DEVELOPMENT OPPORTUNITIES. TO SECURE STRATEGIC INVESTMENTS IN OUR COMMUNITIES THAT SERVE PUBLIC PURPOSE, ENHANCE EMPLOYMENT OPPORTUNITIES, AND LEVERAGE ITS CAPITAL WITH A REASONABLE RATE OF RETURN. false false 828871 CIC PROVIDED LOANS AND FINANCIAL ASSISTANCE IN PIMA COUNTY AND THE INTERCONNECTED REGIONAL ECONOMY OF SOUTHERN ARIZONA TO BUSINESSES THAT WERE UNABLE TO OBTAIN SUCH THROUGH AND/OR THAT HAVE BEEN HISTORICALLY UNDERSERVED BY TRADITIONAL CAPITAL ACCESS INSTITUTIONS. LOANS WERE MADE ON THE BASIS OF SERVING THE PUBLIC PURPOSE OF SUPPORTING LOCAL AND REGIONAL ECONOMIC DEVELOPMENT WHICH INCLUDES BUSINESS AND EMPLOYMENT CREATION/RETENTION. 938629 460537 CIC'S HOME OWNERSHIP SUPPORT SERVICES EMPOWER FIRST-TIME HOMEBUYERS ACROSS ARIZONA, PARTICULARLY IN PIMA COUNTY, BY PROVIDING ESSENTIAL FINANCIAL ASSISTANCE. THROUGH OUR MORTGAGE CREDIT CERTIFICATE (MCC) PROGRAM, INCOME- QUALIFIED BUYERS CAN REDUCE THEIR ANNUAL MORTGAGE INTEREST BY CLAIMING UP TO 2,000 AS A FEDERAL TAX CREDIT. THIS BENEFIT IS RENEWABLE EACH YEAR, ADDING UP TO POTENTIAL SAVINGS OF OVER 50,000 ACROSS THE LIFE OF THE MORTGAGE. THE MCC PROGRAM IS FUNDED BY THE PIMA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY. IN ADDITION TO THE MCC PROGRAM, WE ADMINISTER DOWN PAYMENT ASSISTANCE IN COLLABORATION WITH THE INDUSTRIAL DEVELOPMENT AUTHORITES (IDAS) OF PIMA COUNTY AND THE CITY OF TUCSON. THIS PROGRAM PROVIDES BETWEEN 2% AND 5% OF THE PURCHASE PRICE TO ELIGIBLE HOMEBUYERS, REDUCING THE FINANCIAL BURDEN OF UPFRONT COSTS AND MAKING THE PATH TO HOMEOWNERSHIP MORE ACCESIBLE. 652908 CIC'S BOND COMPLIANCE PROGRAM SERVED 61 DIFFERENT PUBLIC SCHOOLS OR SCHOOL NETWORKS THROUGH 75 SEPARATE BOND AGREEMENTS GENERATING NEARLY 210,000 IN REVENUES. BOND COMPLIANCE SERVICES CONSIST OF SUPPORTING BOND RECIPIENTS (SCHOOLS) WITH THEIR CONTRACTUAL OBLIGATIONS TO PROVIDE CONTINUING DISCLOSURE INFORMATION TO THE ELECTRONIC MUNICIPAL MARKET ACCESS (EMMA) WEBSITE. THESE DISCLOSURES SERVE AN ESSENTIAL ROLE FOR A PROPERLY AND EFFICIENTLY FUNCTIONING BOND MARKET BY ENHANCING TRANSPARENCY FOR INVESTORS AND IN THE BOND MARKET AT LARGE, AS WELL AS HELPING PRESERVE/ENHANCE SCHOOLS' BOND RATINGS. 2420408 true true false false false false false false false false true false false false true false true false false false false false false false false false false false true false false false false false false true true false false false false false false true false false false true 28 0 false 23 true false false false false false false false false X 3 3 false false false false false false false true true false false true true true true true true true false false X X X COMMUNITY INVESTMENT CORPORATION 5205291766 2033 E GRANT ROAD TUCSON AZ 85719 DANIEL KNEE EXECUTIVE DI 40.00 X 141399 0 0 CAROLINE NELSON CHIEF OPERAT 40.00 X 102781 0 0 NICHOLAS HENRY CHIEF STRATE 40.00 X 91092 0 0 JOHN H PAYNE PRESIDENT 10.00 X X 0 0 0 STEVEN RUSSO CORPORATE CO 10.00 X 0 0 0 KENNETH M SILVERMAN TREASURER 10.00 X X 0 0 0 JEFF SINGLETON SECRETARY 10.00 X X 0 0 0 335272 2 false false false 528154 602944 1131098 HOME OWNERSHIP ASSISTANCE 372558 372558 SCHOOL SERVICES PROGRAM 210452 210452 LOAN SERVICING PROGRAM 149417 149417 732427 205138 205138 OTHER INCOME 1276 1276 1276 2069939 733703 205138 460537 460537 335272 192379 142893 1172070 868479 303591 184854 148238 36616 116342 85720 30622 33003 14703 18300 21688 9662 12026 19381 19381 30782 24951 5831 82358 78945 3413 21315 17590 3725 19292 15495 3797 17537 12267 5270 13032 13032 49944 39955 9989 BAD DEBT EXPENSE 192755 192755 COMPUTER EXPENSE 132521 129349 3172 MISCELLANEOUS 89261 57136 32125 BUILDING EXPENSE 81814 62754 19060 21333 9493 11840 3095091 2420408 674683 0 259617 66465 3817520 1885231 26886 89548 219770 75946 1570941 2058092 9297 6835 437696 95655 355073 342041 957361 1872651 7216465 6396809 153150 182911 149446 121930 114572 2492693 2825232 2917219 3122715 X 4299246 3070826 203268 4299246 3274094 7216465 6396809 -1025152 X false true X false true true X X 1 INDUSTRIAL DEVELOPMENT AUTHORITY OF PIMA COUNTY 860445981 6 true 0 0 1 0 true false false false false false false false false false false false false false false true RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 76639 76639 327674 65123 262551 33383 30532 2851 342041 NOTES PAYABLE - RELATED PARTIES 1500000 DUE TO PTHS PROGRAM 825786 REFUNDABLE ADVANCES 499446 2825232 2050558 2050558 19381 19381 2069939 3075710 3075710 19381 19381 3095091 false TENANT ASSISTANCE 315 460537 THE INSURANCE HOUSE BOARD MEMBER 37488 INSURANCE false SINGLE FOCUS WEB LLC EXEC DIR SPOUSE 12371 WEBSITE DESIGN false BALANCED BOOKS LLC BUSINESS MGR 3500 ACCOUNTING SERVICES false RUSSO LAW FIRM BOARD MEMBER 28813 LEGAL SERVICES false FORM 990 - ORGANIZATION'S MISSION TO CREATE A BETTER LIFE FOR THE RESIDENTS OF OUR COMMUNITY THROUGH VARIOUS PROGRAMS TARGETING ECONOMIC DEVELOPMENT OPPORTUNITIES. TO SECURE STRATEGIC INVESTMENTS IN OUR COMMUNITIES THAT SERVE PUBLIC PURPOSE, ENHANCE EMPLOYMENT OPPORTUNITIES, AND LEVERAGE ITS CAPITAL WITH A REASONABLE RATE OF RETURN. FORM 990, PAGE 2, PART III, LINE 4B CIC'S HOME OWNERSHIP SUPPORT SERVICES EMPOWER FIRST-TIME HOMEBUYERS ACROSS ARIZONA, PARTICULARLY IN PIMA COUNTY, BY PROVIDING ESSENTIAL FINANCIAL ASSISTANCE. THROUGH OUR MORTGAGE CREDIT CERTIFICATE (MCC) PROGRAM, INCOME- QUALIFIED BUYERS CAN REDUCE THEIR ANNUAL MORTGAGE INTEREST BY CLAIMING UP TO 2,000 AS A FEDERAL TAX CREDIT. THIS BENEFIT IS RENEWABLE EACH YEAR, ADDING UP TO POTENTIAL SAVINGS OF OVER 50,000 ACROSS THE LIFE OF THE MORTGAGE. THE MCC PROGRAM IS FUNDED BY THE PIMA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY. IN ADDITION TO THE MCC PROGRAM, WE ADMINISTER DOWN PAYMENT ASSISTANCE IN COLLABORATION WITH THE INDUSTRIAL DEVELOPMENT AUTHORITES (IDAS) OF PIMA COUNTY AND THE CITY OF TUCSON. THIS PROGRAM PROVIDES BETWEEN 2% AND 5% OF THE PURCHASE PRICE TO ELIGIBLE HOMEBUYERS, REDUCING THE FINANCIAL BURDEN OF UPFRONT COSTS AND MAKING THE PATH TO HOMEOWNERSHIP MORE ACCESIBLE. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 WAS DISTRIBUTED TO THE GOVERNING BODY AND REVIEWED BY THE EXECUTIVE DIRECTOR. FORM 990, PAGE 6, PART VI, LINE 12C POTENTIAL CONFLICTS OF INTEREST AND THE ORGANIZATION'S POLICIES ARE DISCUSSED AT PERIODIC BOARD MEETINGS. THE ORGANIZATION'S COUNSEL ALSO MONITORS COMPLIANCE. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR'S SALARY IS PERIODICALLY (AT LEAST EVERY 2-3 YEARS) BENCHMARKED WITH EXECUTIVE/CEO SALARIES AT COMPARABLY SIZED (BUDGET, EMPLOYEES, SERVICES, TENURE) NONPROFIT ORGANIZATIONS ACROSS THE COUNTRY AND ADJUSTED ANNUALLY BASED ON PERFORMANCE. FORM 990, PAGE 6, PART VI, LINE 19 THE MOST RECENT YEAR AND PRIOR YEAR (BACK TO 2012) DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. INDUSTRIAL DEVELOPMENT AUTHORITY 6700 N ORACLE ROAD SUITE 100 TUCSON AZ 85704 860445981 BONDS AZ GOVT N/A false false false false true true false false false false false false false false false false false false false false INDUSTRIAL DEVELOPMENT AUTHORITY E 1500000