North Carolina Community Development Initiative Capital Inc

“Section b. Policies general information pertaining to the consolidated group policies: with respect to the policies and procedure disclosures herein, the organization adheres to the formal policies adopted by its affiliate organization, nccdi, in all material respects. Line 13 - whistleblower policy the whistleblower, electronic communications, document retention, confidentiality and conflict of interest policies are distributed and discussed with each employee upon hire. The employee reads and signs the policies. Copies of the signed policies are kept in the employee's personnel file and a copy is provided to the employee.”

“For 2016, the officers of nccdic will coordinate the form 990 review on behalf of the board of directors and will contact the external cpa firm as needed for any inquiries raised during the review process.”

“On an annual basis, the conflict of interest policy will be distributed to the board of directors. There will be a full explanation of the policy followed by a discussion of what items could constitute a conflict of interest. All in attendance will be asked if they have or know of a conflict of interest. If yes, that member will be asked to recuse themselves from the discussion and the vote. The chief executive officer will follow up with any board member not in attendance. All discussion will be documented in the minutes.”

“On an annual basis, the performance and compensation of the chief executive officer are evaluated by the personnel and executive committees of the board of directors. The personnel and executive committees meet with the chief executive officer to review the year's activities and then further discussion is held in a closed session (without the presence of the chief executive officer) to determine whether a compensation adjustment (whether via salary or benefits) is merited. Prior to the meeting with the chief executive officer, the finance department provides the personnel committee with a copy of the most recent salary schedule and relevant market data (compensation research report) to ensure the chief executive officer's compensation is comparable to other similar organizations. After the evaluation, the personnel and executive committees report to the full board and this report is documented in the minutes of the meeting.”

“On an annual basis, the performance and compensation of the staff is evaluated by the chief executive officer. The chief executive officer meets with the staff, individually to review the year's activities and discuss goals. Prior to the meeting, the finance department provides the chief executive officer with a copy of the most recent staff salary schedule and relevant market data (compensation research report) to ensure staff compensation is comparable to other similar organizations.”

“The organization's governing documents, conflicts of interest policy and financial statements are available to the public upon request.”

“Section a - officer, directors, trustees, key employees, highest compensated employees the compensation reported on part vii, column (e) are amounts reported to the irs on the employee's w-2 from the organization's affiliate, nccdi. There are no amounts reported in column (d), "direct" reportable compensation from the organization. However, there are amounts reported as officer compensation expense on part ix, line 5. The amounts reported on part ix reflect the organization's share of allocated salaries between the organization and it's affiliate, nccdi. All salaries are paid through nccdi and therefore reported on the employee's nccdi form w-2. The organization itself does not pay salaries and therefore does not provide any forms w-2. See schedule r for details.”

“North carolina community development initiative capital, inc. Is a statewide public-private partnership that provides leadership and capital investment to high-performance community development corporations (cdc's) as well as other community based economic development endeavors, (i.e. Social enterprises) to improve the well being and quality of life for people in low resource communities.”

“Part iv, line 28c - certain board members of this organization are also board members of the related organization north carolina community development initiative, inc. ("nccdi"), ein: 56-1845590 and whose respective businesses or organizations with which they hold executive positions were party to business transactions with the consolidated tax exempt group. These transactions are listed in detail on the sch. L disclosures included on the 12/31/16 form 990 of the related organization. It is the position of both organizations that these business transactions were conducted at "arms-length- and in the normal course of business.”

“Unrealized loan loss reserve -564,279”