2026-07-02T07:57:54-05:00 2025-09-30 941254756 HOOD & STRONG LLP 2580 N 1ST ST STE 460 SAN JOSE CA 95131 990 2024-10-01 943032394 COMMUNITY VISION CAPITAL & CONSULTING COMM 4153928215 870 MARKET STREET 677 SAN FRANCISCO CA 94102 WIL O MENDOZA VICE PRESIDENT OF FINANCE 4153928215 2026-06-26 1 1 MAGA E KISRIEV P01008919 4089988400 2024 2025-03-06 01:10:19Z CATHERINE HOWARD 870 MARKET STREET 677 SAN FRANCISCO CA 94102 39678445 0 X HTTPS://COMMUNITYVISIONCA.ORG/ X 1987 CA PROVIDING FINANCING AND FINANCIAL EXPERTISE TO STRENGTHEN LOW-INCOME COMMUNITIES. 11 11 40 26 0 0 17580905 9630641 5594997 6875908 1441430 2018563 5000 318744 24622332 18843856 128588 145362 0 0 5683657 5579638 0 18969 162623 10766665 17242225 16578910 22986194 8043422 -4142338 161816185 171647430 112664111 125065471 49152074 46581959 X COMMUNITY VISION CAPITAL & CONSULTING PROMOTES ECONOMIC JUSTICE AND ALLEVIATES POVERTY BY INCREASING THE FINANCIAL RESILIENCE AND SUSTAINABILITY OF COMMUNITY-BASED NONPROFITS AND ENTERPRISES. THROUGH FLEXIBLE FINANCIAL PRODUCTS AND SOUND ADVICE, WE CREATE OPPORTUNITIES TO MAKE SOCIALLY RESPONSIBLE INVESTMENTS THAT REVITALIZE NORTHERN CALIFORNIA COMMUNITIES. 0 0 18902054 139363 6206740 CAPITAL SOLUTIONS: SINCE 1987, COMMUNITY VISION HAS MADE 697 LOANS TOTALING $398 MILLION TO NONPROFITS AND SOCIAL ENTERPRISES SERVING DISINVESTED COMMUNITIES IN NORTHERN AND CENTRAL CALIFORNIA, LEVERAGING OVER $2.16 BILLION IN ADDITIONAL PROJECT FUNDING. THESE LOANS HAVE HELPED CREATE OR PRESERVE 8,166 AFFORDABLE HOUSING UNITS FOR LOW-INCOME FAMILIES AND INDIVIDUALS, AND FINANCED OVER 5.9 MILLION SQUARE FEET OF NEIGHBORHOOD-SERVING COMMERCIAL AND RESIDENTIAL SPACE. THES LOANS HAVE ALSO HELPED CREATED OR PRESERVE 29,881 PERMANENT AND CONSTRUCTION JOBS, AND HELPED FINANCE PROJECTS BY ORGANIZATIONS THAT SERVE OVER 6 MILLION INDIVIDUALS. AT THE END OF FY25, COMMUNITY VISION MANAGED A PORTFOLIO OF 91 LOANS WORTH $120 MILLION TO 80 ORGANIZATIONS. DURING THE COURSE OF FY25, COMMUNITY VISION CLOSED 18 LOANS TOTALING $50 MILLION. 1369061 6000 1035606 REAL ESTATE SOLUTIONS (RES): SINCE THE INCEPTION OF OUR CONSULTING & TRAINING PROGRAM, COMMUNITY VISION HAS PROVIDED 1,383 REAL ESTATE AND FINANCIAL MANAGEMENT CONSULTING ENGAGEMENTS AND SERVED 8,964 PARTICIPANTS THROUGH WORKSHOPS ON THESE TOPICS. DURING FY25, THE PROGRAM COMPLETED 75 CONSULTING ENGAGEMENTS, AND HOSTED 18 WORKSHOPS. RES ALSO MANAGES THE CALCORE PROGRAM, A FIVE-YEAR STATE-WIDE INITIATIVE THAT BRINGS TOGETHER COHORTS OF COMMUNITY-BASED DEVELOPERS, WITH A FOCUS ON BLACK, INDIGENOUS, PEOPLE OF COLOR-LED (BIPOC) REAL ESTATE ORGANIZATIONS, PARTICULARLY COMMUNITY DEVELOPMENT CORPORATIONS (CDCS) AND COMMUNITY LAND TRUSTS (CLTS). 784575 0 0 COMMUNICATIONS AND IMPACT: COMMUNITY VISION CONDUCTS ONGOING EVALUATION OF PROGRAMS AND INITIATIVES. WE DEVELOP AND DISTRIBUTE INFORMATION ABOUT OUR PROGRAMS BOTH INTERNALLY AND EXTERNALLY VIA MULTIPLE CHANNELS. 899865 0 0 CAPITALIZATION: COMMUNITY VISION WAS FOUNDED AS A VEHICLE TO CHANNEL CAPITAL FROM SOCIALLY RESPONSIBLE AND MISSION MOTIVATED INVESTORS TO PROJECTS THAT BENEFIT LOW-INCOME PEOPLE. WE PROVIDE EDUCATION ON SUSTAINABLE, SOCIALLY RESPONSIBLE INVESTING. AT THE END OF FY2025, INVESTMENTS MADE BY OVER 330 BANKS, FOUNDATIONS, INDIVIDUALS, RELIGIOUS ORGANIZATIONS, NONPROFIT ORGANIZATIONS AND HOSPITAL SYSTEMS INTO OUR REVOLVING LOAN FUND TOTALED $114.2 MILLION.NEW MARKETS TAX CREDITS: COMMUNITY VISION HAS RECEIVED A TOTAL OF $212 MILLION IN NEW MARKETS TAX CREDIT (NMTC) ALLOCATIONS FOR USE IN OUR CALIFORNIA SERVICE AREA. WE HIGHLY LEVERAGE AND INVEST TAX CREDIT CAPITAL IN HIGH IMPACT BUSINESSES AND NONPROFITS IN QUALIFYING LOW-INCOME COMMUNITIES, CREATING JOBS AND SPURRING ADDITIONAL ECONOMIC DEVELOPMENT. OUR NMTC PROGRAM HAS HELPED TO CREATED OR PRESERVE 5,637 JOBS, CREATED 1,038,826 SQUARE FEET OF COMMUNITY FACILITY SPACE, HELPED TO DEVELOP 84 UNITS OF AFFORDABLE HOUSING AND LEVERAGED AN ADDITIONAL $340 MILLION IN PRIVATE INVESTMENT. OVER 962,000 INDIVIDUALS ACROSS 8 COUNTIES SPANNING CALIFORNIA ARE SERVED BY THE PROJECTS DEVELOPED USING THESE FUNDS. 899865 0 0 21955555 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 253 0 1 40 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X WIL O MENDOZA 4153928215 870 MARKET ST SUITE 677 SAN FRANCISCO CA 94102 ANITA ADDISON BOARD CHAIR 15.00 X X 0 0 0 JOHN CHAN TREASURER 15.00 X X 0 0 0 DAVID ELSAESSER SECRETARY 15.00 X X 0 0 0 ANDY MADEIRA BOARD MEMBER 15.00 X 0 0 0 CAROLYN JOHNSON BOARD MEMBER 15.00 X 0 0 0 BHAVANI DARYANANI BOARD MEMBER 15.00 X 0 0 0 NIKKI BEASLEY BOARD MEMBER 15.00 X 0 0 0 ESTELLA SANCHEZ BOARD MEMBER (THRU 4/30/25) 15.00 X 0 0 0 DAVID DILL BOARD MEMBER 15.00 X 0 0 0 ERIC WEAVER BOARD MEMBER 15.00 X 0 0 0 PATRICIA GOPAUL BOARD MEMBER 15.00 X 0 0 0 C LEA SALEM BOARD MEMBER 15.00 X 0 0 0 LUISA MEDINA BOARD MEMBER (THRU 1/31/25) 15.00 X 0 0 0 PAMELA MERCHANT BOARD MEM/CONSULTANT (THRU 3/31/25) 15.00 X 6400 0 0 CATHERINE HOWARD PRESIDENT 40.00 X 303333 0 34936 WILFREDO MENDOZA VP OF FINANCE/CFO 40.00 X 205686 0 29763 SABRINA KELLEY DIRECTOR OF EXTERNAL RELATIONS 40.00 X 208292 0 29301 SCOTT SPORTE DIRECTOR OF CREDIT 40.00 X 191279 0 28010 SAUL ETTLIN SENIOR ADVISOR TO THE PRESIDENT 40.00 X 197472 0 33620 DANIEL MCDONALD SENIOR BUSINESS DEVELOPMENT OFFICER 40.00 X 161679 0 9746 GRAYTON HUANG CONTROLLER 40.00 X 166497 0 9411 AMANDA BORNSTEIN INTERIM DIR OF CATALYTIC CONSULTING 40.00 X 169522 0 21850 NATHANIEL SCHAFFRAN DIRECTOR OF BUSINESS 40.00 X 147352 0 27689 1757512 0 224326 16 0 1 0 NONPROFIT HR SOLUTIONS LLC 1441 L STREET NW SUITE 620 WASHINGTON DC 20005 HR CONSULTING 197433 THE NEXT US 1502A SANCHEZ STREET SAN FRANCISCO CA 94131 CONSULTING 112638 TECHSPERIENCE LLC 766 WALKER AVENUE OAKLAND CA 94610 IT SERVICE 100992 3 33509 5663195 3933937 9630641 INTEREST ON COMMUNITY LOANS 813319 5840302 5840302 LOAN FEES/NMTC FEES 813319 764133 764133 CONSULTING AND FISCAL AGENT FEES 813319 271473 271473 6875908 1888359 1888359 12300 0 12300 12300 12300 20899699 20769495 130204 130204 130204 5100 33509 65094 -59994 -59994 LOAN REPAYMENT 900099 366438 366438 366438 18843856 7242346 0 1970869 145362 145362 1280103 986732 253905 39466 3303881 3088532 165721 49628 237180 217418 15783 3979 424482 387124 29938 7420 333992 297495 29825 6672 164042 86728 76535 779 98485 6353 92128 4 18969 18969 38958 38958 445646 415538 16277 13831 59065 48173 7121 3771 175917 166525 8112 1280 280495 249016 27912 3567 366744 342653 20970 3121 75236 59116 8775 7345 110430 93305 15899 1226 2638063 2638063 43642 38741 4264 637 114002 73348 40108 546 PROVISION FOR LOAN LOSS 12518049 12518049 BAD DEBT EXPENSE 47520 47520 FEES AND LICENSES 39831 24448 15001 382 26100 25316 784 22986194 21955555 868016 162623 22665096 9448007 22939847 9931882 460000 1625000 654546 1023051 84034094 100787641 179652 164600 2891068 408650 2498895 2482418 21231343 34478916 2199837 2041487 94800 100800 4858075 9563628 161816185 171647430 1794330 1857281 3925228 644520 20000 25000 103316122 114201733 3608431 8336937 112664111 125065471 X 43382062 41411784 5770012 5170175 49152074 46581959 161816185 171647430 -4142338 1572223 0 X 0 1 X 1 1 1 X 14317131 7225412 3851529 17580905 9630641 52605618 14317131 7225412 3851529 17580905 9630641 52605618 5230476 47375142 586940 1041465 1023536 1449805 1900659 6002405 5100 5100 58613123 29100863 0.80830 0.85180 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING EVENTS - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 5,100. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 11250 11250 22935986 22947236 1000000 250000 0 0 731372 842519 977084 1000000 3550975 5326463 7500 7110 2930 11250 28790 182843 210630 244271 250000 887744 1331616 123954 118777 5177 339215 289873 49342 2427899 2427899 2482418 FUNDS HELD IN TRUST 7454920 DEPOSITS 10893 OTHER LONG TERM RECEIVABLES 1279711 OPERATING LEASE RIGHT-OF-USE ASSET 818104 9563628 FUNDS HELD IN TRUST 7454920 OTHER LIABILITIES 20755 OPERATING LEASE LIABILITY 861262 8336937 X 20554300 1572223 112085 1684308 18869992 38958 -65094 -26136 18843856 23124415 112085 65094 177179 22947236 38958 38958 22986194 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FROM CALIFORNIA FRANCHISE AND/OR INCOME TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. AS OF SEPTEMBER 30, 2025, MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD MAINTAINED ITS TAX-EXEMPT STATUS AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE RECLASSED TO REVENUE -65,094. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE RECLASSED TO REVENUE 65,094. X X X 1 HAYSE GROUP INC 1874 BROOKTREE WAY PLEASANTON CA 94566 GRANT WRITING 0 0 18969 -18969 18969 -18969 CA ANNUAL SPRING EVENT 38609 33509 5100 28828 26427 4440 5399 38609 33509 5100 28828 26427 4440 5399 65094 -59994 1 YOUTH RADIO 1701 BROADWAY AVENUE OAKLAND CA 94612 943180825 501(C)(3) 25000 0 GENERAL OPERATING SUPPORT MALONGA ARTS COLLECTIVE 1428 ALLICE STREET SUITE 201 OAKLAND CA 94612 883751876 501(C)(3) 6000 0 GENERAL OPERATING SUPPORT FIRST NATIONS DEVELOPMENT 2432 MAIN STREET LONGMONT CA 80501 541254491 501(C)(3) 42181 0 GENERAL OPERATING SUPPORT SOGOREA TE LAND TRUST 2501 HARRISON STREET OAKLAND CA 94612 824415931 501(C)(3) 42181 0 GENERAL OPERATING SUPPORT SOUTHWEST FRESNO DEVELOPMENT CORPORATION 1424 W CALIFORNIA STREET FRESNO CA 93706 813670858 501(C)(3) 30000 0 GENERAL OPERATING SUPPORT 5 0 PART I, LINE 2: INITIAL, INTERIM AND FINAL REPORTS BY ALL GRANTEES INCLUDING RECIPIENTS OF FORGIVABLE LOANS. IF THE LOAN IS FORGIVEN BECAUSE A PROJECT DOES NOT MOVE FORWARD IT CONVERTS TO A GRANT. X X X 0 0 0 0 0 0 0 0 0 CATHERINE HOWARD PRESIDENT 273333 0 30000 0 0 0 12100 0 22836 0 338269 0 0 0 SABRINA KELLEY DIRECTOR OF EXTERNAL RELATIONS 208292 0 0 0 0 0 9249 0 20052 0 237593 0 0 0 WILFREDO MENDOZA VP OF FINANCE/CFO 200686 0 5000 0 0 0 9171 0 20592 0 235449 0 0 0 SAUL ETTLIN SENIOR ADVISOR TO THE PRESIDENT 192472 0 5000 0 0 0 8924 0 24696 0 231092 0 0 0 SCOTT SPORTE DIRECTOR OF CREDIT 186279 0 5000 0 0 0 8738 0 19272 0 219289 0 0 0 AMANDA BORNSTEIN INTERIM DIR OF CATALYTIC CONSULTING 164522 0 5000 0 0 0 8086 0 13764 0 191372 0 0 0 GRAYTON HUANG CONTROLLER 157897 0 5000 0 3600 0 7887 0 1524 0 175908 0 0 0 NATHANIEL SCHAFFRAN DIRECTOR OF BUSINESS 147352 0 0 0 0 0 7421 0 20268 0 175041 0 0 0 DANIEL MCDONALD SENIOR BUSINESS DEVELOPMENT OFFICER 156679 0 5000 0 0 0 7850 0 1896 0 171425 0 0 0 PAMELA MERCHANT BOARD MEMBER TO FUND CAPITAL POOL FOR COMMUNITY AND ECONOMIC DEV. PROJECTS FINANCING X 20000 20000 0 1 1 KIRBY SACK SPOUSE OF BOARD MEMBER TO FUND CAPITAL POOL FOR COMMUNITY AND ECONOMIC DEV. PROJECTS FINANCING X 5000 5000 0 1 1 25000 SCHEDULE L, PART II, LOANS FROM INTERESTED PERSONS: AT THE END OF FY2025, INVESTMENTS MADE BY OVER 330 BANKS, FOUNDATIONS, INDIVIDUALS, RELIGIOUS ORGANIZATIONS, NONPROFIT ORGANIZATIONS AND HOSPITAL SYSTEMS INTO OUR REVOLVING LOAN FUND TOTALED $114.2 MILLION. ONE MEMBER OF THE BOARD OF DIRECTORS CHOSE TO SUPPORT THE ORGANIZATION'S MISSION BY LENDING MONEY TO THE ORGANIZATION'S CAPITAL POOL. ADDITIONALLY, SEVERAL BOARD MEMBERS ARE AFFILIATED WITH INSTITUTIONS THAT INVEST IN THE ORGANIZATION'S REVOLVING LOAN POOL. THESE LOANS ARE INCLUDED IN NOTES PAYABLE ON THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THESE LOANS WERE ACCEPTED ON TERMS THAT CONFORM TO THE ORGANIZATION'S STANDARD POLICIES FOR ACCEPTING LOANS INTO THE INVESTMENT POOL. DURING FY2025, COMMUNITY VISION HAD OUTSTANDING NOTES AS FOLLOWS:PAMELA MERCHANTBOARD MEMBERLOAN MADE TO COMMUNITY VISION: $20,000 AT 0%KIRBY SACKSPOUSE OF BOARD MEMBERLOAN MADE TO COMMUNITY VISION: $5,000 AT 0% FORM 990, PART VI, SECTION B, LINE 11B ALL BOARD MEMBERS RECEIVED A COPY OF THE FORM 990 BEFORE IT WAS FILED. BOARD MEMBERS WERE ENCOURAGED TO REVIEW THE FORM 990 AND FORWARD THEIR QUESTIONS TO THE VICE PRESIDENT OF FINANCE OR TO COMMUNITY VISION'S ACCOUNTING FIRM WHO ADDRESSED THESE QUESTIONS. THE FINANCE COMMITTEE REVIEWED THE FORM IN DETAIL PRIOR TO FILING AND RECOMMENDED THE FILING OF THE RETURN TO THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ALL STAFF AND BOARD MEMBERS COMPLETE A DISCLOSURE FORM ANNUALLY. DISCUSSION AND DISCLOSURE ARE INCLUDED IN REGULAR BOARD AND COMMITTEE MEETINGS, AS APPROPRIATE. IF AN ACTUAL CONFLICT EXISTS, THE PERSON INVOLVED IS TO RECUSE THEMSELVES FROM TAKING ACTION ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE MANAGEMENT TEAM LED BY THE PRESIDENT AND VICE PRESIDENT OF ADMINISTRATION AND OPERATIONS REVIEWS SALARY INFORMATION FOR SIMILAR POSITIONS AT OTHER NONPROFIT AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS. THIS GROUP RECOMMENDS SALARY RANGES BASED ON COMPARABLE DATA AND OBTAINS APPROVAL FOR THOSE RANGES FROM THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. ALL DISCUSSIONS ARE DOCUMENTED CONTEMPORANEOUSLY AND A RECORD OF THE DECISIONS ARE MAINTAINED IN THE ORGANIZATION'S FILES. THE BOARD OF DIRECTORS REVIEWS THE PERFORMANCE OF THE PRESIDENT AND APPROVES THE COMPENSATION FOR THAT POSITION BASED ON COMPARABLE DATA FROM SIMILAR ORGANIZATIONS AND SALARY SURVEYS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF TIME SET FORTH IN SEC. 6104(D). CREDIT ENHANCEMENT 1 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 825526864 TO MANAGE A PROGRAM FOR FOOD ENTERPRISE RELATED FINANCING. CA 54567 1180551 COMMUNITY VISION CAPITAL & CONSULTING 3105 SAN PABLO LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 943032394 SPECIAL PURPOSE ENTITY TO HOLD NOTES RELATED TO A REAL ESTATE TRANSACTION. CA 3116718 COMMUNITY VISION CAPITAL & CONSULTING NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 18 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 474570333 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 44002 4397 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 19 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824881789 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 30002 3088 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 20 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824895633 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 45000 4626 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 21 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824904581 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 54995 1280784 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 22 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824921713 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 35014 685 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 23 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824952887 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 35000 3602 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 24 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824962734 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED 56022 29112 0 1 0.00010 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 25 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 824986555 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED -800 0 1 0.99000 NORTHERN CALIFORNIA COMMUNITY LOAN FUND NMTC SUB-CDE 26 LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 825011686 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING RELATED -800 0 1 0.99000 NCCLF MEMBERCO LLC 870 MARKET STREET SUITE 677 SAN FRANCISCO CA 94102 263779521 NEW MARKETS TAX CREDIT CA COMMUNITY VISION CAPITAL & CONSULTING C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 NCCLF NMTC SUB-CDE 21 LLC L 55000 CONTRACT NCCLF NMTC SUB-CDE 24 LLC L 56000 CONTRACT SCHEDULE R, PART III COMMUNITY VISION CAPITAL & CONSULTING ("COMMUNITY VISION") IS A CALIFORNIA NONPROFIT PUBLIC BENEFIT ORGANIZATION, A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI") AND A CERTIFIED COMMUNITY DEVELOPMENT ENTITY ("CDE"). SINCE 2009, THE CDE HAS RECEIVED SEVEN ALLOCATIONS OF NEW MARKETS TAX CREDIT ("NMTC") AUTHORITY UNDER SECTION 45D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE") TOTALING $218,000,000. UNDER THE RULES OF THE NMTC PROGRAM, COMMUNITY VISION AS A NONPROFIT CORPORATION MUST CREATE AND CONDUCT ITS NEW MARKETS PROGRAM THROUGH ONE OR MORE FOR-PROFIT CORPORATIONS OR LIMITED LIABILITY COMPANIES (HEREINAFTER THE "LLC"). THE LLC IS TYPICALLY REFERRED TO AS A "SUBSIDIARY", HOWEVER THE TERM "SUBSIDIARY" IS USED VERY DIFFERENTLY IN THE NEW MARKETS CREDIT PROGRAM THAN IT IS IN NORMAL CORPORATE FINANCE AND ACCOUNTING. IN THE NMTC PROGRAM, THE ECONOMIC INVESTMENT IN THIS "SUBSIDIARY" LLC IS MADE 99.99% BY A THIRD PARTY INVESTOR; AND THAT INVESTOR WILL RECEIVE ALL OF THE TAX BENEFITS. THE TERM "SUBSIDIARY" IS USED BY THE CDFI FUND TO SIGNIFY A RELATIONSHIP WHERE THE NEW FOR-PROFIT LLC IS MANAGED BY THE ALLOCATEE (COMMUNITY VISION) AND WHERE THE ALLOCATEE HAS SUFFICIENT CONTROL OVER THE OPERATIONS AND INVESTMENTS OF THE FOR-PROFIT LLC TO KEEP THE LLC IN COMPLIANCE WITH THE NEW MARKETS PROGRAM RULES. THE CDFI FUND HAS ESTABLISHED RULES TO DETERMINE WHAT CONSTITUTES CONTROL BUT, IN GENERAL, CONTROL MEANS (I) MAINTAINING MANAGEMENT CONTROL BY EITHER ACTING AS MANAGER OR OWNING A MAJORITY INTEREST AND (II) MAINTAINING INVESTMENT CONTROL (VETO POWER) OVER THE QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS ("QLICIS") MADE BY THE SUBSIDIARY CDE. IT IS COMMON IN COMMUNITY DEVELOPMENT FINANCING, SUCH AS IN FINANCING OF AFFORDABLE HOUSING, NEW MARKETS LENDING, AND HISTORIC PRESERVATION, FOR NONPROFITS TO BE MANAGING MEMBERS OR GENERAL PARTNERS OF A FOR-PROFIT ENTITY. THE LLC HAS BEEN FORMED WITH A MISSION CONSISTENT WITH THE NONPROFIT'S EXEMPT PURPOSE, AND WILL OPERATE WITHIN THE CONSTRAINTS OF THE FEDERAL NMTC PROGRAM. IN ADDITION, THE LLC CREATED TO ACT AS CONDUIT LENDER UNDER THE NMTC PROGRAM DOES NOT HAVE A SEPARATE BOARD OF DIRECTORS. ALL DECISIONS FOR THE LLC ARE MADE BY THE MEMBERS. COMMUNITY VISION IS THE MANAGING MEMBER OF THE LLC, AND ALL ACTIONS OF THE LLC IN MAKING AND HOLDING LOANS TO BORROWERS ARE MANAGED BY COMMUNITY VISION UNDER THE LLC'S OPERATING AGREEMENT WITH AN INVESTOR. ACTIONS BY COMMUNITY VISION IN THIS CAPACITY, LIKE ALL ITS OTHER LOAN ACTIVITY TO BORROWERS, ARE MANAGED BY THE STAFF AND OFFICERS OF COMMUNITY VISION UNDER THE DIRECTION OF THE BOARD OF DIRECTORS OF COMMUNITY VISION.