2024-11-14T13:13:34-06:00 2023-12-31 420714325 RSM US LLP 6 S Patterson Blvd Dayton OH 45402 990 2023-01-01 461051875 Cleveland Development Advisors Community Reinvestment Fund Inc CLEV 2165922274 1240 Huron Road 300 Cleveland OH 44115 Yvette M Ittu President & CEO 2165922274 2024-11-12 1 1 Karen O Crim P00368385 9372980201 2024-11-12 2023 2024-10-15 13:58:12Z Yvette M Ittu 1240 Huron Road 300 Cleveland OH 44115 9946832 0 X www.clevelanddevelopmentadvisors.com X 2012 OH To promote community development and revitalization by supporting and providing investment capital for low-income communities and low-income persons in Northeast Ohio to create sustainable neighborhoods and communities through neighborhood redevelopment and small business growth through collaboration and inclusivity with public, private and not-for-profit partners. 15 15 0 19 -19357 0 960000 5608480 3259578 3851236 73910 466138 0 20978 4293488 9946832 490400 255600 0 0 0 0 0 0 0 3008146 4111834 3498546 4367434 794942 5579398 34461878 46140522 15861073 21961211 18600805 24179311 X To build inclusive and thriving neighborhoods in Northeast Ohio by providing innovative financing solutions and technical assistance to catalytic real estate and business development projects. In carrying out this mission, CDA-CRF shall be operated exclusively for religious, charitable, scientific, literary or educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. 0 0 1839323 0 2707432 Management Services:CDA-CRF provides management services to Cleveland Development Advisors, Inc. (CDA), an affiliate of the Organization. CDA is a real estate and business development finance organization that invests privately-funded capital and New Markets Tax Credit (NMTC) allocations into catalytic projects designed to advance economic and community development projects throughout Cleveland. CDA's investment funds include i) Cleveland Development Partnership II LP (CDP II), ii) Advance Cleveland Development Fund, LLC (ACDF), Opportunity CLE Loan Fund, LLC (OCLF) and iii) Cleveland New Markets Investment Fund II, LLC (CNMIF II) (collectively, CDA's Investment Funds). CDP II and ACDF, as well as OCLF, the newest investment fund which closed in December 2023, provide a source of private sector financing for developers, owners, and operators of significant real estate projects in Cleveland, Ohio and Cuyahoga County, Ohio, in order to promote development and advance community priorities. CNMIF II is a community development entity (CDE) certified by the U.S. Treasury's Community Development Financial Institutions Fund (CDFI Fund) that has received a total of $340 million in NMTC allocations since 2007. CNMIF II provides investment capital for low-income communities and low-income persons consistent with the NMTC Program and CDA's priorities. Since 1989, CDA's Investment Funds have invested more than $549 million in 173 projects that have resulted in 8,000 new housing units and 14.3 million square feet of commercial space, which have generated over $4.3 billion of total development. Since 1989, CDA's Investment Funds have created over 9,300 permanent jobs and 9,600 construction jobs.The investments made by CDA's Investment Funds in 2023 include the following: The Midtown Collaboration Center (MCC): CNMIF II provided $10 million of Federal NMTC allocation to MCC. MCC is a flagship economic development and community engagement project led by The Cleveland Foundation. This 95,000 square-foot facility builds upon the momentum of the several other CNMIF II NMTC finance projects along The Health-Tech Corridor including UH's Center for Women & Children, Dave's Market and Eatery, and MAGNET. MCC's comprehensive economic development hub will offer a spectrum of services to neighborhood residents- ranging from financing support, business development and community programming to workforce development. The diverse tenant mix includes healthcare providers and researchers, technology-focused organizations that includes an interactive media lab and software training center, educational institutions, lending center focusing on minorities and women, JumpStart's offices, Cleveland's first black owned brewery and music and food venue, and community-oriented spaces. The project is expected to house over 150 employees, further strengthening the local economy. University Settlement Inc (US).: CNMIF II provided $7 million Federal NMTC allocation paired with $1 million of State of Ohio NMTCs to finance the new headquarters of University Settlement, a social service provider in the Broadway-Slavic Village neighborhood. With over 30% of the neighborhood population at or below the poverty level, University Settlement provides programs that protect and educate children, advance literacy and job readiness, provide nutritious and sustaining meals, strengthen families and serve the elderly. US partnered with the NRP Group, the largest developer of affordable housing in the country, to complete the $20 million mixed-use development known as 5115 at the Rising, which represents the largest capital investment made in the Slavic Village neighborhood in more than 25 years. The mixed-use development includes 78 apartments and 10 townhomes owned and operated by NRP, as well as the 20,000 SQF ground floor space for University's Settlement's headquarters. Additionally, the development fosters collaboration and opportunity for training programs and education by housing Workforce Development and AmeriCorps, as well as Cuyahoga Community College who will have a classroom for Tri-C Access Center. CentroVilla 25: CNMIF II provided $10.5 million in Federal NMTC allocation paired with $1 million of State of Ohio NMTCs to finance the adaptive reuse of a 32,500 SQF vacant warehouse in Cleveland's Clark-Fulton neighborhood into a vibrant hub for Latino culture and economic growth. The mixed-use project is led by The Northeast Ohio Hispanic Center for Economic Development (NEOHCED) and will feature 20 micro-retail areas, a commercial kitchen, office space, a Hispanic focused prepared foods store, an outdoor plaza, and areas for arts and cultural events. Centro Villa 25 aims to stimulate economic growth by supporting small businesses, creating jobs, and fostering a strong sense of community. 1685244 0 1168409 Loans:The Organization began lending activity in 2017 utilizing its cash resources generated from successfully managing CDA Investment Funds and leveraging those funds to create greater impact. CDA-CRF became a certified Community Development Financial Institution (CDFI) by the CDFI Fund in 2018, with a focus on most distressed neighborhoods in the City of Cleveland and surrounding neighborhoods; but can also serve Cuyahoga County and its surrounding counties. CDA-CRF is refining its lending priorities to match gaps in the greater Cleveland lending landscape to create sustainable loan products with the ability to advance Cleveland by supporting neighborhood redevelopment and small business growth through collaboration and inclusivity. The focus of the organization's lending activity is on real estate development including community facilities, job creation projects and acquisition and predevelopment and does include small business loans focusing on real-estate like financing for tenant improvements and furniture, fixtures and equipment (FF&E). CDA-CRF has been able to expand its loan and grant products to increase access to capital to emerging and underserved developers by providing a loan and grant product specifically for the predevelopment and acquisition needs of emerging and underserved developers who are focused on investing in real estate projects located in low-income communities in Cleveland, Ohio. The predevelopment and acquisition products compliments CDA-CRF's development services. In 2023, CDA-CRF made it first three acquisition and predevelopment loans. Below are highlights of those loans:MLK Plaza: CDA-CRF provided a $1.5 million acquisition loan for the redevelopment of Martin Luther King Jr. Plaza in Cleveland's Hough neighborhood is underway (February 6, 2023). The project is being developed by Dr. Gina Merritt and will transform the site into a mixed-use development with housing and commercial space. Built in 1972 after the Hough Riots, the plaza has since declined and the project will revitalize the space with a market hall featuring affordable spaces for Black-owned businesses paired with a partnership with Cuyahoga Community College that will support aspiring business owners.ArKiTainer: CDA-CRF was able to provide a $300,000 predevelopment loan to minority-owned firm WRJ (December 11, 2023). The $6.3 million project known as ArKiTainer Infill Development is bringing 40 new housing units built from repurposed shipping containers to Cleveland's St. Clair-Superior neighborhood. This innovative project will provide sustainable duplex-style homes while contributing to the area's revitalization. Located within an Opportunity Zone, the project aligns with neighborhood plans and collaborates with Shoreway Commerce Park to offer workforce housing. The ArKiTainer Infill Development showcases a unique solution to address housing needs and promote economic advancement.Variety Theater: CDA-CRF is funding the revival of the Variety Theater Complex in Westown by providing a $300,000 predevelopment loan to developer Kelly Flamos (Mahall's) (December 22, 2023). The historic renovation will transform the complex into a mixed-use space featuring a 2,000-capacity live music venue, five storefronts for local/minority-owned businesses, and 12 affordable housing units. This project builds upon prior public investments in streetscape improvements and marquee restoration, aligning with the Westown CDC and Ward 11's long-term revitalization strategy for the area.The highlights of the loans made by CDA-CRF in 2023 include:Cleveland Rape Crisis Center Buildout: CDA has played a key role in revitalizing the Clark-Fulton neighborhood by investing in the Pivot Center for Arts, Dance and Expression which is successful historic renovation of formal industrial building into a thriving arts hub. CDA-CRF provided additional investment into the Pivot Center by providing a $475,000 loan that financed the office buildout for the Cleveland Rape Crisis Center's expansion of at the Pivot Center (March 27, 2023). This project provides a new home for the organization that provides essential survivor services and is expected to attract further investment in the area.Shaker Square: CDA-CRF was able to pair a private related investment it received from The Cleveland Foundation with its own resources to provide a $2 million loan to finance capital improvements of Shaker Square which is undergoing a revitalization (July 26, 2023). This historic Cleveland landmark, which faced financial hardship and physical deterioration, will be improved by local owners aiming to enhance its aesthetics, functionality, and occupancy rates. Community-driven planning will guide the renovation, which includes incorporating green space and preserving the Square's legacy.University Settlement Capital Campaign Bridge Loan: CDA-CRF provided a $905,192 million loan to University Settlement, Inc. to help bridge future capital campaign pledges that were secured at the time the construction financing closed for University Settlement's new headquarters located in the mixed-use development known as 5115 at the Rising in the Slavic Village neighborhood (July 27, 2023). The capital campaign bridge loan was a critical and crucial piece necessary for University Settlement to secure and close on the overall construction financing of its new headquarters. University Settlement's new headquarters will increase services to families, children, and people in need at its new facility, increasing the annual individuals served by 20%. Hawthorne School Redevelopment: CDA-CRF is supporting the historic renovation of Hawthorne School in Cleveland's West Park which is being transformed into 37 market-rate apartments. CDA-CRF made a $5.5 million loan to the $14.9 million project which is being led by Sustainable Community Associates (November 9, 2023). The adaptive reuse will preserve the building's history and green space while offering diverse housing options. The redevelopment is expected to boost the Lorain Avenue commercial corridorHispanic Business Center Capital Campaign Bridge Loan: CDA-CRF provided a $612,891 loan to The Northeast Ohio Hispanic Center for Economic Development (NEOHCED) to help bridge future capital campaign pledges that were secured at the time construction financing closed for the renovation of a vacant warehouse in Cleveland's Clark-Fulton neighborhood into a vibrant hub for Latino culture and economic growth, known as CentroVilla25. The capital campaign bridge loan was critical in order to move the $12.3 million project forward. NEOHCED is committed to equitable asset building in Cleveland's Latino, and other underserved communities, by providing economic and entrepreneurial technical assistance, training and advocacy. NEOHCED is a host organization to the Small Business Development Centers (SBDC) program and the Northeast Ohio Hispanic Chamber of Commerce (NEO Hispanic Chamber). The CentroVilla25 mixed-use project will not only house NEOHCED office, but will include office space of neighborhood serving organizations including CHN Housing Partners; a commercial kitchen available for neighborhood restaurants, caterers and food trucks; 20 kiosk style micro-retail spaces available to lease to small and local businesses, a lounge and community space available for programming and events. 255600 255600 -24605 Equity Investments & Grants:CDA-CRF is the 99.9% owner of CNMIF II, a certified CDE under the NMTC Program investing in low-income communities and low-income persons. To date, CNMIF II has received a total of $340 million of Federal NMTC allocation and $35.8 million of Ohio NMTC allocations, and in turn invested into 39 projects totaling over $1.0 billion in development costs. These projects have provided rehabilitation and construction of over 3.4 million square feet of commercial space and 942 housing units with 25% of those units qualifying as affordable under the NMTC Program, creating over 4,900 construction jobs and 5,100 permanent jobs. CDA-CRF is a 4.6% limited partner in CDP II, which to date, has made 92 investments by providing over $156 million in financing into 77 projects totaling over $2.1 billion in development costs. The financing of these projects has provided construction and rehabilitation of over 5.6 million square feet in commercial space and over 3,100 housing units; creating nearly 2,300 permanent jobs and over 3,000 construction jobs. CDA-CRF is a 3.77% Class A Investor in ACDF, which to date, has provided over $82.6 million in financing into 29 projects totaling over $679 million in development costs. The financing of these projects has provided construction and rehabilitation of over 2.5 million square feet commercial and residential space and over 2,000 housing units; creating over 90 permanent jobs and 550 construction jobs. CDA-CRF is a 10.7% Class B Investor in Opportunity CLE Loan Fund (OCLF), as of December 31, 2023. During 2023, CDA-CRF continued to work on the capitalization of this $40 million loan fund that will provide capital to support transformative, strategic and catalytic projects that provide a positive social and economic return in targeted low-income communities across Northeast Ohio with a focus in Cuyahoga County, Ohio. CDA-CRF also serves as the managing member of OCLF. 470333 0 0 Development Services:CDA-CRF was part of the Opportunity CLE Neighborhood collaborative which began in 2019, which highlighted significant gaps in Cleveland's development ecosystem, especially for emerging developers of color. Since 2019, CDA-CRF has focused on strengthening partnerships with community development corporations, developers, and other stakeholders to initiate a city-wide collaborative to advance equitable development by promote emerging and underserved developers in Cleveland as well as building its own Development Services platform that promotes equitable development and focuses on the following main components which includes 1) training and education through the Cleveland Equitable Development Initiative (CLE EDI); 2) providing financial and staff support to the Equitable Development Ecosystem Collaborative (EDEC); 3) providing financial support to emerging and underserved developers by CDA-CRF directly paying for professional consultants to advise the emerging developers on their projects through CDA-CRF's Developer In Residence (DIR) program. Cleveland Equitable Development Initiative (CLE-EDI): After two years of focusing on developing and refining a Cleveland based training program focused on emerging and underserved developers, including minority developers of color, with its partners Capital Impact Partners (CIP), a national CDFI, and Village Capital Corporation (VCC) a local Cleveland based CDFI, the inaugural cohort for CLE EDI launched in 2023. The CLE-EDI was designed to bolster the ranks of successful emerging developers, including minority real estate developers in Cleveland, Ohio, by providing them with the knowledge and tools needed to shape the city's future. The 1st CLE-EDI cohort, began in October 2023 and included 15 participants, that committed to engage in an intensive 8-month curriculum designed to foster a more inclusive and equitable real estate development landscape in Cleveland. CLE-EDI will provide comprehensive training in real estate development, finance, and community engagement, complemented by mentorship from seasoned industry professionals. The inaugural cohort members will graduate from program in June 2024. Developer in Residency: CDA-CRF continued in 2023 to apply for various grant programs and engage with partners and developers to understand the technical assistance support that developers need during the predevelopment and acquisition stages of a real estate development project. CDA-CRF continues to develop its DIR program in order to offer technical assistance support directly through payment to 3rd parties with development experience or professional services needed in predevelopment stages of a real estate project. The technical assistance support will be provided by CDA-CRF through trusted advisors, mentorship or professional services. 470333 0 0 4250500 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 24 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 1 0 OH X Yvette M Ittu 2165922274 1240 Huron Road 300 Cleveland OH 44115 X Renee Csuhran Chair 2.00 0.00 X X 0 0 0 Robert O'Brien Vice Chair 2.00 0.00 X X 0 0 0 Rudy Bentlage Treasurer 1.00 0.00 X X 0 0 0 Debby Berry Director 1.00 0.00 X 0 0 0 Keith S Burgess Director 1.00 0.00 X 0 0 0 Robert Eckardt Director 1.00 0.00 X 0 0 0 Jeff Epstein Director 1.00 0.00 X 0 0 0 David Jenkins Director 1.00 0.00 X 0 0 0 Kevin Johnson Director 1.00 0.00 X 0 0 0 Vickie Johnson Director 1.00 0.00 X 0 0 0 Robert Likes Director 1.00 0.00 X 0 0 0 Quentin L McCorvey Sr Director 1.00 0.00 X 0 0 0 Maria Spangler Director 1.00 0.00 X 0 0 0 Michael J Taylor Director until 6/14/23 1.00 0.00 X 0 0 0 Jeffrey J Wild Director 1.00 0.00 X 0 0 0 Brian Williams Director 1.00 0.00 X 0 0 0 Yvette M Ittu President & CEO 4.00 0.00 X 0 0 0 Robert D Labes Secretary 3.00 0.00 X 0 0 0 Margaret S Callesen Assistant Secretary 3.00 0.00 X 0 0 0 0 0 0 0 0 0 0 Greater Cleveland Partnership 1240 Huron Road E Suite 200 Cleveland OH 44115 Accounting & Management Services 1707625 Blooming Venture LLC 9930 Dellwood Avenue Columbia MD 21046 Consulting Services 200000 Squire Patton Boggs (US) LLP 2550 M Street NW Washington DC 20037 Legal Services 112265 3 4870000 738480 143480 5608480 Management Services 523940 2707432 2707432 Interest Income-Loans 900001 1056246 1056246 Loan Fees 900001 112163 112163 Equity Invstmts/Grants 900001 -24605 -5248 -19357 3851236 466138 466138 20978 20978 20978 9946832 3870593 -19357 487116 X 255600 255600 1642839 1617064 25775 64857 31110 33747 173955 142357 31598 220000 198444 21556 52364 52250 114 23665 20530 3135 6380 6371 9 18019 17805 214 9994 9873 121 831321 831321 70401 70259 142 Provision for Loan Loss 573581 573581 Technical Assistance 309044 309044 Devlpmnt Srvs/Outreach 85534 85488 46 Memberships/Sponsorship 29880 29403 477 4367434 4250500 116934 0 2505881 1309123 9102172 5975706 150000 190000 22467 178193 18764646 25276226 98963 10577 514270 6792826 3303479 6407871 34461878 46140522 293264 313821 500000 0 2330584 4470481 12737225 17176909 15861073 21961211 X 17664654 20008409 936151 4170902 18600805 24179311 34461878 46140522 5579398 -892 0 X 0 1 X 1 1 1 X 5690901 170200 2383265 960000 5608480 14812846 2171151 2709408 2650803 3259578 3870593 14661533 7862052 2879608 5034068 4219578 9479073 29474379 300000 350000 650000 2682187 2631632 5313819 2982187 2981632 5963819 23510560 73278 29024 4361 73910 466138 646711 73278 29024 4361 73910 466138 646711 4600 20978 25578 7935330 2913232 5038429 4293488 9966189 30146668 0.77990 0.78130 0.02150 0.00990 X Schedule A, Part III, Line 12, Explanation of Other Income: Other revenue - 2020 Amount: $ 4,600. 2023 Amount: $ 20,978. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Equity Investment in Cleveland Development Partnership II, LP 1875910 C Equity Investment in Cleveland New Markets Investments Fund II, LLC 100 C Equity Investment in Advance Cleveland Development Fund, LLC 1049563 C Equity Investment in OCLF 3482298 C 6407871 Loans Payable- Cleveland Development Partnership II 7326515 Loans Payable- Advance Cleveland Development Fund 9850394 17176909 X Part X, Line 2: CDA-CRF adopted the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, CDA-CRF may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. Examples of tax positions include the tax exempt status of CDA-CRF and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater of 50 percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, reclassification, interest and penalties on income taxes, and accounting in interim periods. At December 31, 2023 and 2022 there were no unrecognized tax benefits identified or recorded as liabilities. 1 Frontline Development Group 3333 Richmond Road Suite 135 Cleveland OH 44122 832733396 5600 0 This grant was provided to Frontline Development Group to provide predevelopment funds and was used for an owner's representative consultant for the construction of Allen Estates Phase 0 located in the Hough neighborhood of Cleveland, Ohio. The Northeast Ohio Hispanic Center for Economic Development 2511 Clark Avenue Cleveland OH 44109 341805510 501(c)(3) 250000 0 This grant was provided to The Northeast Ohio Hispanic Business Center for Economic Development to provide required equity for the construction costs associated with the renovation of the vacant building for the project known as CentroVilla25 located in the Clark-Fulton neighborhood in Cleveland, Ohio. 1 1 Part I, Line 2: CDA-CRF provides grants to organizations that promote community development on as-needed and/or as-requested basis and can include cash grants and loans converted to grants. Any outstanding loans that would be converted to a grant would be taken to the Investment Review Committee for recommendation of approval. Cash grants to organizations are presented to either the Executive Committee or the full governing board for approval. X 1 143480 GAAP Cost Basis 0 0 1 0 Part I, Column (b): Reporting the number of contributions Form 990, Part VI, Section A, line 3 The Organization has entered into a Management Agreement with The Greater Cleveland Partnership (GCP) to provide professional staffing, office space, back office services, and IT services for the day to day operating needs of the organization. The following officers were employees of GCP and therefore were compensated by GCP as employees during 2023: - Yvette M. Ittu, President. Ms. Ittu received $270,897 of reportable compensation and $27,342 of other compensation from GCP for services provided to the organization. Form 990, Part VI, Section A, line 6 The Organization's sole member is Cleveland Development Advisors, Inc. (CDA). Form 990, Part VI, Section A, line 7a The CDA Board Members and Officers serve as the Directors and Officers of the Organization. Form 990, Part VI, Section B, line 11b Staff, in conjunction with tax preparers, compiles the information needed to complete the Form 990. Upon completion, management conducts a detailed review of the return and makes final adjustments if necessary. The returns are provided to the Audit, Finance, and Executive Committees for review and comment. The final version of the Form 990 is given electronically and/or by hard copy to each board member for review prior to submission. Form 990, Part VI, Section B, line 12c The board of Directors and staff of the Organization are expected to maintain the highest ethical standards in conducting the business of the Organization. The board and staff conflict of interest policies are intended to provide clear guidance to ensure that the Organization's business is conducted with integrity, and in compliance with all applicable laws, and in a manner that excludes considerations of personal advantage or gain. All board and staff members shall annually receive a reminder of their agreement to comply with the policy and sign a declaration indicating their acceptance. Any violation of the board policy will subject a board member to appropriate action, up to and including, removal from the board. When questions arise concerning any aspect of this policy, board members are encouraged to contact the board chair. Violations of this policy should be reported to the board chair or the confidential and independent 24-hour helpline provider, NAVEX Global, Inc. The disinterested members of the Governance Committee shall make a determination as to whether a conflict exists and what subsequent action, if any, is appropriate. The Governance Committee shall inform the Board of such determination and action. The Board shall retain the right to modify or reverse such determination and action, and shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy. The CEO, or his/her designee shall make a determination regarding staff members as to whether a conflict exists and what subsequent action, if any, is appropriate. Any violation of the staff policy will subject the employee to discipline, up to and including, immediate discharge. When questions arise concerning any aspect of this policy, or to report violations, employees should contact the human resources department or the confidential and independent 24-hour helpline provider, NAVEX Global, Inc. Form 990, Part VI, Section B, line 15 Salaries of all staff have been subjected to review by a compensation committee created by the Greater Cleveland Partnership. The committee's responsibilities include approving compensation for employees of the organization including the President/CEO. An annual performance evaluation process is conducted for all employees. Compensation for all employees is evaluated against the market. The compensation committee utilizes the resources of an independent consulting firm in the evaluation process to provide local and national compensation comparable data. The results of the latest survey (GCP Executive Compensation Study- February 2020) provided that direct pay and indirect pay programs reflect market medians. Form 990, Part VI, Section C, line 19 A copy of the governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(D). Form 990, Part IX, Line 11a: The expenses under Line 11a, Management, represent the expenses incurred by Greater Cleveland Partnership ("GCP"), an Ohio non-profit corporation that is a section 501(c)(6) organization. CDA-CRF has contracted with GCP to assist it in providing management services for day to day operations including employees, facility space, IT, computers, etc. CDA Chain Reaction LLC 1240 Huron Road Suite 300 Cleveland OH 44115 843701059 Community Development Financing for the Chain Reaction Program OH 0 0 Cleveland Development Advisors Community Reinvestment Fund Inc Cleveland Development Partnership II 1240 Huron Road E Suite 300 Cleveland OH 44115 341769318 Real Estate Investment DE Cleveland Development Advisors Inc Excluded 85150 2247279 0 0 0.04670 Cleveland New Markets Investment Fund II LLC 1240 Huron Road E Suite 300 Cleveland OH 44115 201581963 Investment Management OH Cleveland Development Advisors Inc Excluded 321421 1331732 0 0 0.99900 Advance Cleveland Development Fund 1240 Huron Road E Suite 300 Cleveland OH 44115 461061063 Financial Investments OH Cleveland Development Advisors Inc Excluded 44132 1195626 0 0 0.02850 Opportunity CLE Loan Fund LLC 1240 Huron Road E Suite 300 Cleveland OH 44115 461062063 Real Estate Investment OH Cleveland Development Advisors Community Reinvestment Fund Inc Excluded 15708 3515708 0 0 0.10770 Cleveland Development Advisors Inc 1240 Huron Road E Suite 420 Cleveland OH 44115 341608541 Investment/Management OH N/A C 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Advance Cleveland Development Fund E 9850394 Loans Cleveland Development Partnership II E 7326515 Loans Opportunity CLE Loan Fund LLC B 3000000 FMV Part IV, Line (1) CDA Funds are as follows: CDP II - Cleveland Development Partnership II is a limited partnership and CDA, Inc. is the General Partner. CDA gets 1% of income and losses - but has no ownership Percentage of the fund. CNMIF II - Cleveland New Markets Investment Fund II, LLC is a limited liability company and CDA, Inc. is the managing member and 0.10% member. ACDF - Advance Cleveland Development Fund, LLC is a limited liability company and CDA, Inc. is the managing member and 0% member. CDP II is the class B member. OCLF - Opportunity CLE Loan Fund, LLC (OCLF) is a limited liability company and CDA-CRF is both the managing member of OCLF as well as a Class B Investor Member with 10.8% of the fund.