Totals
- Total revenue
- $383,331
- Total expenses
- $338,588
- Contributions and grants received
- $185,000
- Grants paid
- $0
- Program service revenue
- $198,331
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $9,828,456
- Total liabilities, end of year
- $6,099,570
- Net assets or fund balances, end of year
- $3,728,886
- Program services expenses (Part IX)
- $291,374
- Management and general expenses
- $47,214
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $291,374
Program services were 86.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$185,000
-
2a · Program service revenue: INTEREST ON LOANS
total $179,843 · related or exempt $179,843
-
2b · Program service revenue: LOAN SERVICE FEES
total $18,488 · related or exempt $18,488
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $9,310 · program services $9,310
-
8 · Pension plan contributions
total $744 · program services $744
-
10 · Payroll taxes
total $985 · program services $985
-
11a · Fees: management
total $262,067 · program services $214,853 · management and general $47,214
-
13 · Office expenses
total $550 · program services $550
-
20 · Interest
total $10,684 · program services $10,684
-
24a · Other expenses: BAD DEBTS
total $27,103 · program services $27,103
-
24b · Other expenses: LOAN SERVICING FEES
total $26,685 · program services $26,685
-
24c · Other expenses: TAXES & LICENSES FEE
total $460 · program services $460
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $509,540 · end of year $243,298
-
2 · Savings and temporary cash investments
beginning of year $531,285 · end of year $871,930
-
3 · Pledges and grants receivable
beginning of year $75,000 · end of year $0
-
4 · Accounts receivable
beginning of year $1,310,193 · end of year $52,847
-
7 · Other notes and loans receivable
beginning of year $7,213,765 · end of year $8,589,342
-
14 · Intangible assets
beginning of year $64,074 · end of year $71,039
-
24 · Unsecured notes and loans payable
beginning of year $591,779 · end of year $617,224
-
25 · Other liabilities
beginning of year $5,427,935 · end of year $5,482,346
-
27 · Net assets without donor restrictions
beginning of year $3,509,235 · end of year $3,728,886
-
28 · Net assets with donor restrictions
beginning of year $174,908 · end of year $0
Mission and programs · 2023
Mission
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.
Activities or mission (Part I)
CDCLI FUNDING CORP. OFFERS RESIDENTIAL LOAN PRODUCTS WHICH ASSIST FIRST-TIME BUYERS IN PURCHASING A HOME AND EXISTING HOMEOWNERS WITH NEEDED REPAIRS & IMPROVEMENTS.
-
PROGRAM SERVICE EXPENSES INCURRED IN CONNECTION WITH OVERSEEING ALL OPERATIONAL ASPECTS OF THE CDFI. OUTREACH, EDUCATION, LOAN PROCESS, UNDERWRITING, CLOSING AND LOAN MANAGEMENT.
Expenses $291,374 · Revenue $198,331
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Anne-Marie ScheidtANNE-MARIE SCHEIDT
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Brian ClarkeBRIAN CLARKE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
James CoughlanJAMES COUGHLAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Theresa SandersTHERESA SANDERS
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Gwen O'SheaGWEN O'SHEA
PRESIDENT/CEO
- Total calculated
- $418,431
- From this org
- $0
- From related orgs
- $370,074
- Other
- $48,357
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $309,269 related
- Bonus
- $0 + $57,430 related
- Other
- $0 + $3,375 related
- Deferred
- $0 + $29,291 related
- Nontaxable benefits
- $0 + $19,066 related
- Filer's total
- $0 + $418,431 related
-
Alan HeitnerALAN HEITNER
CFO/TREASURER
- Total calculated
- $226,241
- From this org
- $0
- From related orgs
- $209,634
- Other
- $16,607
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $200,248 related
- Bonus
- $0 + $8,800 related
- Other
- $0 + $586 related
- Deferred
- $0 + $16,607 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $226,241 related
-
Allison NorrisALLISON NORRIS
EXECUTIVE SECRETARY
- Total calculated
- $40,115
- From this org
- $0
- From related orgs
- $36,661
- Other
- $3,454
- Hours/week
- 2 + 38 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- 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.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
COMMUNITY DEV CORP OF LONG ISLAND INC
501(C)(3) · SRVC PROVIDER · NY
-
CDCLI HOUSING DEVELOPMENT FUND CORP
501(C)(3) · REAL ESTATE · NY
Directly controlled by CDCLI
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
WRC-E MANAGER LLC
REAL ESTATE · NY
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CARMAN PLACE HOUSING DEVELOPMENT FUND COMPANY INC
C · REAL ESTATE · NY
-
CATHEDRAL PLACE HOUSING DEVELOPMENT FUND
C · HOUSING · NY
-
CDC BAYWIND CORPORATION
C · REAL ESTATE · NY
-
CDC COPIAGUE COMMONS INC
C · REAL ESTATE · NY
-
CDC NEW CASSEL INC
C · REAL ESTATE · NY
-
CDC PECONIC CROSSING INC
C · REAL ESTATE · NY
-
CDC PORT JEFFERSON CROSSING INC
C · REAL ESTATE · NY
-
CDC VINEYARD VIEW INC
C · REAL ESTATE · NY
-
CDC WINCORAM COMMONS INC
C · REAL ESTATE · NY
-
CDC WRC-E INC
C · REAL ESTATE · NY
-
TWIN OAKS HOUSING DEVELOPMENT FUND CO
C · HOUSING · NY
-
VINEYARD VIEW HOUSING DEVELOPMENT FUND
C · REAL ESTATE · NY
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413209349319991
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