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← COMMUNITY REINVESTMENT FOUNDATION INC

Form 990 for tax year 2023

Filed by COMMUNITY REINVESTMENT FOUNDATION INC.

Totals

Total revenue
$276,266
Total expenses
$916,520
Contributions and grants received
$213,399
Grants paid
$900,000
Program service revenue
$0
Investment income
-$1,006
Other revenue
$63,873
Total assets, end of year
$5,134,394
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$5,134,394
Program services expenses (Part IX)
$916,520
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$916,520

Program services were 100.0% 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

    $213,399

  • 3 · Investment income

    total $120,008 · excluded $120,008

  • 7b · Less cost or other basis and sales expenses

    securities $121,014

  • 7c · Gain or loss

    securities -$121,014

  • 7d · Net gain or loss

    total -$121,014 · excluded -$121,014

  • 11a · Other revenue: INCOME FROM PARTERNSHIPS

    total $63,873 · related or exempt $63,873

  • 11e · Other revenue, total

    $63,873

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $900,000 · program services $900,000

  • 11c · Fees: accounting

    total $16,500 · program services $16,500

  • 13 · Office expenses

    total $20 · program services $20

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $45,836 · end of year $83,771

  • 2 · Savings and temporary cash investments

    beginning of year $958,483 · end of year $67,163

  • 4 · Accounts receivable

    beginning of year $549,528 · end of year $378,420

  • 7 · Other notes and loans receivable

    beginning of year $4,184,687 · end of year $4,549,982

  • 10a · Land, buildings and equipment: cost or other basis

    $36,114

  • 10c · Land, buildings and equipment, net

    beginning of year $36,114 · end of year $36,114

  • 13 · Investments: program-related

    end of year $18,944

  • 27 · Net assets without donor restrictions

    beginning of year $5,774,648 · end of year $5,134,394

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS AND FAMILIES.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES.

  • CRF SUPPORTS MULTIPLE LOW-INCOME HOUSING PROPERTIES BY PROVIDING OVERSIGHT OF EACH PROPERTY'S MANAGEMENT TEAM THROUGH THE DEVELOPMENT OF POLICIES AND PROCEDURES, DEVELOPMENT OF SOCIAL PROGRAMS AND SERVICES FOR THE RESIDENTS AND ENSURES COMPLIANCE WITH PROGRAM REGULATIONS AS WELL AS WITH OTHER GOVERNMENT AGENCIES TO MEET ITS CHARITABLE PURPOSE.

    Expenses $916,520 · Grants $900,000 · Revenue $63,873

As filed on the 2023 return.

Listed in Part VII

  • David Cooper

    PRESIDENT

    Total calculated
    $213,304
    From this org
    $0
    From related orgs
    $213,304
    Other
    $0
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,175 related
    Bonus
    $0 + $48,129 related
    Other
    $0 + $10,000 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $213,304 related

  • Tim Shrout

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Tim Paino

    SECRETARY AND TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Adam Bocik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • William Tibbetts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Erik Cooper

    VICE PRESIDENT

    Total calculated
    $182,341
    From this org
    $0
    From related orgs
    $182,341
    Other
    $0
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $114,414 related
    Bonus
    $0 + $47,907 related
    Other
    $0 + $20,020 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $182,341 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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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 13
DESCRIBE THE PROCESS OF RELATED ORGANIZATION TO DETERMINE AND APPROVE COMPENSATION ALL COMPENSATION FOR TOP MANAGEMENT POSITIONS, EXCLUSIVE OF THE PRESIDENT, IS PRESENTED TO THE BOARD OF DIRECTORS BY RECOMMENDATION OF THE PRESIDENT THROUGH THE ANNUAL BUDGETING PROCESS. COMPENSATION FOR THE PRESIDENT IS DETERMINED BY THE BOARD OF DIRECTORS AFTER CONSIDERATION OF COMPENSATION PAID BY COMPARABLE ORGANIZATIONS.

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

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GLASSWATER CREEK SERVICE PROVIDER OF LAFAYETTE LLC

    SERVICE PROVIDER · IN · income -$21 · assets $332,672

    Directly controlled by CRF AFFORDABLE INC

  • GLASSWATER CREEK SERVICE PROVIDER OF PLAINFIELD LLC

    SERVICE PROVIDER · IN · income $0 · assets $328,576

    Directly controlled by CRF AFFORDABLE INC

  • GLASSWATER CREEK SERVICE PROVIDER OF WHITESTOWN

    SERVICE PROVIDER · IN · income $0 · assets $116,894

    Directly controlled by CRF AFFORDABLE INC

  • CRF DEVELOPMENT JEFFERSONVILLE

    SERVICE PROVIDER · IN · income $0 · assets $0

    Directly controlled by CRF AFFORDABLE INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ELGIN MANOR APTS LP

    RELATED · AFFORDABLE HOUSING · IN · share of income -$68,938 · share of assets $7,383,020

  • CLOVERLEAF II LP

    RELATED · AFFORDABLE HOUSING · IN · share of income -$210,253 · share of assets $8,731,942

  • GLASSWATER CREEK OF LAFAYETTE LLC

    RELATED · AFFORDABLE HOUSING · IN · share of income -$68 · share of assets $2,048

  • GLASSWATER CREEK OF PLAINFIELD LLC

    RELATED · AFFORDABLE HOUSING · IN · share of income $109 · share of assets $2,426

  • GLASSWATER CREEK OF WHITESTOWN LLC

    RELATED · AFFORDABLE HOUSING · IN · share of income -$211 · share of assets $2,255

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CLOVERLEAF II HOLDINGS INC

    C · AFFORDABLE HOUSING · IN · 100% owned · share of income -$11 · controlled entity

    Directly controlled by CRF INC

  • ELGIN MANOR HOLDINGS INC

    C · AFFORDABLE HOUSING · IN · 100% owned · controlled entity

    Directly controlled by CRF INC

  • GLASSWATER CREEK - LAFAYETTE MM INC

    C · AFFORDABLE HOUSING · IN · 100% owned · share of income -$67 · controlled entity

    Directly controlled by CAH INC

  • GLASSWATER CREEK - PLAINFIELD MM INC

    C · AFFORDABLE HOUSING · IN · 100% owned · share of income $22 · controlled entity

    Directly controlled by CAH INC

  • GLASSWATER CREEK - WHITESTOWN MM INC

    C · AFFORDABLE HOUSING · IN · 100% owned · share of income -$211 · controlled entity

    Directly controlled by CAH INC

Provenance

Return type
form_990
Tax year
2023
Filed
31 October 2024
IRS schema version
2023v5.1
Source object
202403069349300900

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