2025-11-14T10:50:22-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 1305 WALT WHITMAN ROAD SUITE 210 MELVILLE NY 11747 990 2024-01-01 113418906 CDCLI FUNDING CORPORATION CDCL 6314711215 1660 WALT WHITMAN ROAD 130 MELVILLE NY 11747 GWEN O'SHEA PRESIDENT /CEO 6314711215 2025-11-12 1 1 ZACHARY SEGAL P01511850 5163365500 2025-11-12 2024 2025-03-06 01:10:19Z GWEN O'SHEA 1660 WALT WHITMAN ROAD 130 MELVILLE NY 11747 540097 0 X WWW.CDCLI.ORG X 1997 NY CDCLI FUNDING CORP. OFFERS RESIDENTIAL LOAN PRODUCTS WHICH ASSIST FIRST-TIME BUYERS IN PURCHASING A HOME AND EXISTING HOMEOWNERS WITH NEEDED REPAIRS & IMPROVEMENTS. 6 5 1 5 0 0 185000 297477 198331 242620 0 0 0 0 383331 540097 0 0 0 0 11039 10988 0 0 0 327549 376002 338588 386990 44743 153107 9828456 12460862 6099570 8578869 3728886 3881993 X CDCLI FUNDING CORPORATION IS A NOT-FOR-PROFIT CORPORATION THAT IS CERTIFIED BY THE U.S. DEPARTMENT OF TREASURY AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION.THE ENTITY OFFERS VARIOUS LOAN PRODUCTS TO UNDER-RESOURCED AND UNDER-FINANCED INDIVIDUALS, COMMUNITIES AND DEVELOPMENTS. 0 0 350811 242620 PROGRAM SERVICE EXPENSES INCURRED IN CONNECTION WITH OVERSEEING ALL OPERATIONAL ASPECTS OF THE CDFI. OUTREACH, EDUCATION, LOAN PROCESS, UNDERWRITING, CLOSING AND LOAN MANAGEMENT. 350811 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 1 0 NY X SHARON SABBA FIERSTEIN 6314711215 1660 WALT WHITMAN ROAD MELVILLE NY 11747 ANNE-MARIE SCHEIDT BOARD MEMBER/CHAIR 1.00 2.00 X X 0 0 0 BRIAN CLARKE BOARD MEMBER 1.00 2.00 X 0 0 0 GWEN O'SHEA PRESIDENT/CEO 2.00 38.00 X X 0 400444 43070 JAMES COUGHLAN BOARD MEMBER 1.00 2.00 X 0 0 0 RICHARD ROBERTS BOARD MEMBER 1.00 2.00 X 0 0 0 THERESA SANDERS BOARD MEMBER/VICE CHAIR 1.00 2.00 X X 0 0 0 ALAN HEITNER CFO/ TREASURER (UNTIL AUGUST 2024) 2.00 38.00 X 0 168154 10101 ALLISON NORRIS SECRETARY 2.00 38.00 X 0 83281 12428 MARIAN CONWAY TREASURER (AS OF SEPTEMBER 2024) 2.00 38.00 X 0 0 0 0 651879 65599 0 0 0 0 0 245000 52477 297477 INTEREST ON LOANS 525990 223080 223080 LOAN SERVICE FEES 525990 19540 19540 242620 540097 242620 0 0 9296 9296 738 738 954 954 282652 246473 36179 409 409 521 521 41188 41188 BAD DEBTS 50851 50851 TAXES & LICENSES FEE 381 381 386990 350811 36179 0 243298 250471 871930 435342 52847 63538 8589342 11639174 71039 72337 9828456 12460862 617224 538679 5482346 8040190 6099570 8578869 X 3728886 3881993 3728886 3881993 9828456 12460862 153107 0 X 0 1 X 1 1 1 X 750000 150000 1313000 185000 297477 2695477 750000 150000 1313000 185000 297477 2695477 2695477 71288 153422 213404 198331 223080 859525 7844 7844 3562846 485144 0.75660 0.77650 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: BAD DEBT RECOVERY - 2021 AMOUNT: $ 7,844. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO RELATED PARTY 7968307 OTHER LIABILITIES 71883 8040190 X 540097 0 540097 0 540097 386990 0 386990 0 386990 PART X, LINE 2: FUNDING CORP. IS INCORPORATED AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NEW YORK AND IS CLASSIFIED AS A 501(C)(3) ORGANIZATION, WHICH IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(A) OF THE IRC. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023. FUNDING CORP. HAS NOT TAKEN AN UNSUBSTANTIATED TAX POSITION THAT WOULD REQUIRE PROVISION OF A LIABILITY UNDER FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. UNDER ASC 740-10, AN ORGANIZATION MUST RECOGNIZE THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. FUNDING CORP. DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. FUNDING CORP. HAS FILED INTERNAL REVENUE SERVICE FORM 990 TAX RETURNS, AS REQUIRED, AND ALL OTHER APPLICABLE RETURNS IN JURISDICTIONS WHEN IT IS REQUIRED. FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. FUNDING CORP.'S FEDERAL AND STATE INFORMATIONAL RETURNS PRIOR TO FISCAL YEAR 2021 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS. 0 0 0 0 0 0 0 0 0 GWEN O'SHEA PRESIDENT/CEO 0 333518 0 64322 0 2604 0 28522 0 14548 0 443514 0 0 ALAN HEITNER CFO/ TREASURER (UNTIL AUGUST 2024) 0 118621 0 7500 0 42033 0 10101 0 0 0 178255 0 0 PART I, LINE 3 PRESIDENT AND CHIEF EXECUTIVE OFFICER, GWEN O'SHEA, RECEIVES COMPENSATION FROM COMMUNITY DEVELOPMENT CORPORATION OF LONG ISLAND INC, A RELATED ORGANIZATION. COMMUNITY DEVELOPMENT CORPORATION OF LONG ISLAND INC USES COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS FORWARDED TO THE FULL BOARD FOR REVIEW AND PRESENTED AND DISCUSSED BY THE BOARD AT THE NEXT BOARD MEETING PRIOR TO FINALIZING. FORM 990, PART VI, SECTION B, LINE 12 EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF COMMITTEE WITH BOARD DELEGATED POWERS IS REQUIRED TO SIGN AN ANNUAL STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, READ AND UNDERSTOOD IT AND HAS AGREED TO COMPLY WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICER OR KEY EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. 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