2024-11-11T14:55:42-06:00 2023-12-31 420714325 RSM US LLP 920 5TH AVENUE SUITE 2800 SEATTLE WA 98104 990 2023-01-01 465384846 CRAFT3 FUTURE FUND CRAF 8882312170 42 7TH STREET 100 ASTORIA OR 97103 MARK STEVENSON CFO 8882312170 2024-11-11 1 0 SUE ROBISON P00560072 2062814444 2024-11-11 2023 2024-10-15 13:58:12Z BRUCE BROOKS INTERIM CEO 42 7TH STREET 100 ASTORIA OR 97103 405349 0 X WWW.CRAFT3.ORG X 2014 WA TO STRENGTHEN ECONOMIC, ECOLOGICAL AND FAMILY RESILIENCE IN PACIFIC NORTHWEST COMMUNITIES. 12 12 0 12 0 0 0 0 268323 402820 0 0 0 2529 268323 405349 0 0 0 0 0 0 0 0 0 -60797 12274 -60797 12274 329120 393075 4295544 6138445 1356 1178 4294188 6137267 TO STRENGTHEN ECONOMIC, ECOLOGICAL AND FAMILY RESILIENCE IN PACIFIC NORTHWEST COMMUNITIES. 0 0 12274 0 405349 PROVIDING BUSINESS SUPPORT, MARKETING ASSISTANCE AND HIGH RISK NON-BANK CREDIT TO BUSINESSES SPECIFIC TO SHARIA COMPLIANT FINANCING AND INDIVIDUALS IN WASHINGTON AND OREGON; IMPROVING THE PHYSICAL AND ECONOMIC ENVIRONMENTS THROUGH ENERGY EFFICIENCY MISSION-BASED LENDING. 12274 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 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 1 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 OR X MARK STEVENSON CFO 8882312170 42 7TH STREET NO 100 ASTORIA OR 97103 PAUL BENOIT BOARD CHAIR 1.00 2.00 X X 0 0 0 JO ANN KAUFFMAN BOARD MEMBER 1.00 2.00 X 0 0 0 RONALD GRZYWINSKI BOARD MEMBER 1.00 2.00 X 0 0 0 ALEXA KELLY BOARD MEMBER 1.00 2.00 X 0 0 0 ALAN OKAGAKI BOARD MEMBER 1.00 2.00 X 0 0 0 STAN AMY BOARD MEMBER 1.00 2.00 X 0 0 0 WALT KRUMBHOLZ BOARD MEMBER 1.00 2.00 X 0 0 0 SHIVON BRITE BOARD MEMBER 1.00 2.00 X 0 0 0 MARY HOUGHTON BOARD MEMBER 1.00 2.00 X 0 0 0 LINDA NETTEKOVEN BOARD MEMBER 1.00 2.00 X 0 0 0 ANDREA CAUPAIN SANDERSON BOARD MEMBER 1.00 2.00 X 0 0 0 LEE WINSLETT BOARD MEMBER 1.00 2.00 X 0 0 0 ADAM ZIMMERMAN CHIEF EXECUTIVE OFFICER 4.00 40.00 X 0 301065 24311 BRUCE BROOKS PRESIDENT 4.00 40.00 X 0 218814 31950 RONALENE MONTEITH CHIEF CREDIT OFFICER, EVP 4.00 40.00 X 0 175002 30103 MARK STEVENSON NEW MARKETS TAX CREDIT DIRECTOR, EVP 4.00 40.00 X 0 163438 36225 JANE REPENSEK CHIEF FINANCIAL OFFICER 4.00 40.00 X 0 147160 5283 SONYA LYNN CHIEF OPERATING OFFICER 4.00 40.00 X 0 143849 24915 MICHAEL DICKERSON INNOVATION AND EVALUATION DIRECTOR 4.00 40.00 X 0 208803 14551 0 1358131 167338 0 0 1 0 KENNETH BERNARD CAGE DBA CAGE CONSTRUCTI 755 OAKHURST DR PACIFIC DE 97048 CONSTRUCTION SERVICES 128167 1 LENDING ACTIVITIES 522291 402820 402820 402820 LOAN LOSS PROVISION 522291 2529 2529 2529 405349 405349 0 0 4330 4330 6194 6194 LOAN SERVICING COSTS 1750 1750 12274 12274 0 0 155491 1604175 24516 26757 4115537 4507513 4295544 6138445 1356 1178 1356 1178 X 4294188 6137267 4294188 6137267 4295544 6138445 X 393075 1450004 X 0 1 X 1 0 X X X 1 CRAFT3 911662698 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 X PART X, LINE 2: CRAFT3 IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CRAFT3 IS SUBJECT TO CERTAIN BUSINESS AND OCCUPATION TAXES, WHICH APPLY EQUALLY TO FOR-PROFIT AND NONPROFIT BUSINESSES, IMPOSED BY STATE AND LOCAL TAXING AUTHORITIES. THE TAXES ARE ASSESSED ON A PERCENTAGE OF CRAFT3'S REVENUES. CRAFT3 HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022. UNRELATED BUSINESS INCOME TAX, IF ANY, IS INSIGNIFICANT AND NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. ALL CRAFT3 SUBSIDIARIES ARE ORGANIZED AS LLCS. NET INCOME FROM THE LLCS IS PASSED THROUGH TO CRAFT3, WHICH IS A NONPROFIT CORPORATION ORGANIZED UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). NO LIABILITY HAS BEEN RECORDED FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 OR 2022, AND MANAGEMENT BELIEVES NO MATERIAL UNCERTAIN TAX POSITIONS HAVE BEEN TAKEN. 0 0 0 0 0 0 0 0 0 ADAM ZIMMERMAN CHIEF EXECUTIVE OFFICER 0 278783 0 21842 0 440 0 16416 0 7895 0 325376 0 0 BRUCE BROOKS PRESIDENT 0 202739 0 15635 0 440 0 14841 0 17109 0 250764 0 0 MICHAEL DICKERSON INNOVATION AND EVALUATION DIRECTOR 0 194443 0 14000 0 360 0 12447 0 2104 0 223354 0 0 RONALENE MONTEITH CHIEF CREDIT OFFICER, EVP 0 161893 0 12669 0 440 0 12445 0 17658 0 205105 0 0 MARK STEVENSON NEW MARKETS TAX CREDIT DIRECTOR, EVP 0 150023 0 12975 0 440 0 11706 0 24519 0 199663 0 0 SONYA LYNN CHIEF OPERATING OFFICER 0 133129 0 10280 0 440 0 6751 0 18164 0 168764 0 0 JANE REPENSEK CHIEF FINANCIAL OFFICER 0 146800 0 0 0 360 0 0 0 5283 0 152443 0 0 PART I, LINE 3 COMPENSATION IS PAID BY RELATED ORGANIZATION, CRAFT3, WHICH USES THE FOLLOWING METHODS: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A PUBLIC ACCOUNTING FIRM WITH ASSISTANCE FROM THE CONTROLLER IN PROVIDING DATA. THE RETURN IS THEN REVIEWED BY CRAFT3'S CFO AND CONTROLLER AND PROVIDED TO THE BOARD TO REVIEW BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST IS A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER, DIRECTOR, COMMITTEE MEMBER, STAFF, OR CONSULTANTS OF THE ORGANIZATION OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALL CRAFT3 EMPLOYEES AND DIRECTORS AGREE TO ABIDE BY THE CONFLICT OF INTEREST POLICY RULES BY READING THE EMPLOYEE POLICY HANDBOOK UPON HIRE. ALL EMPLOYEES AND DIRECTORS ARE REQUIRED TO SIGN THE POLICY ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ANNUAL AUDITED FINANCIAL STATEMENTS ARE ACCESSIBLE ON THE COMPANY WEBSITE: WWW.CRAFT3.ORG. FORM 990, PART XI, LINE 9: IMPACT ON NET ASSETS DUE TO ADOPTION OF ASC 326 1,450,004. CRAFT3 42 7TH STREET 100 ASTORIA OR 97103 911662698 LENDING WA 501(C)(3) LINE 7 N/A 0 CRAFT3 INVESTMENT II LLC 42 7TH STREET 100 ASTORIA OR 97103 201179589 LENDING WA N/A 0 0 CRAFT3 INVESTMENT X LLC 409 MAYNARD AVENUE S SUITE 200 SEATTLE WA 98104 813835904 LENDING WA N/A 0 0 CRAFT3 INVESTMENT XI LLC 409 MAYNARD AVENUE S SUITE 200 SEATTLE WA 98104 821550360 LENDING WA N/A 0 0 CRAFT3 INVESTMENT XII LLC 409 MAYNARD AVENUE S SUITE 200 SEATTLE WA 98104 821570912 LENDING WA N/A 0 0 CRAFT3 INVESTMENT XIV LLC 409 MAYNARD AVENUE S SUITE 200 SEATTLE WA 98104 850538526 LENDING WA N/A 0 0 CRAFT3 INVESTMENT XIII LLC 409 MAYNARD AVENUE S SUITE 200 SEATTLE WA 98104 821583020 LENDING WA N/A C 0 WINDFARM INVESTMENTS 42 7TH STREET 100 ASTORIA OR 97103 271496444 LENDING WA N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0