Neighborhood Community Development Fund

“Walter nalducci and margaret eldridge are trustees of the organization and trustees of the northside leadership conference. Mark fatla is a trustee of the organization and the executive director of northside leadership conference. The organization receives contributions from northside leadership conference.”

“The 990 is emailed to the members of the organization's finance committee and the executive director in draft form. A meeting with the preparers occurs to discuss any questions. After the review with the preparers, the board of directors formally accepts the audit reports and tax filings.”

“The organization's conflict of interest policy is updated annually, whereby board members and staff sign off on the policy. Board members having conflicts routinely recuse or abstain from voting on matters at the board of directors meetings. Staff are instructed to disclose any conflicts, per the written conflict of interest policy and the signed statements. The executive director personally reviews contracts and agreements before they are executed. The executive director personally asks staff members about this periodically, as when we have a new loan or investment application.”

“Compensation of the executive director is determined and approved by the board of directors annually.”

“Documents are available to the public upon request subject to redactions necessary to protect the confidentiality of its borrowers/investors, in accordance with the agency's privacy policy and applicable legal and regulatory standards. In addition, northside community development fund's irs form 990 is available at guidestar.org.”

“Included on part x, line 24 is a refundable advance contribution of $6,000. In april 2020, the organization qualified for and received a loan pursuant to the paycheck protection program, a program implemented by the small business administration under the coronavirus aid, relief, and economic security act. The principal amount of the loan was $81,164. The loan bears interest at a fixed rate of 1.0% per annum, has a two year term, is unsecured and guaranteed by the small business administration. The principal and interest are eligible for forgiveness under the paycheck protection program upon meeting the performance requirements of program. As of december 31, 2020 the organization had met the performance requirements for the balance of the funds, $75,164 therefore this amount has been included as revenue on part viii line 1e . The remaining amount that was not forgiven is being repaid in monthly installments including interest.”

“The process has not changed.”