Fulcrum Communities

“PART VI, SECTION B, Line 11b: Describe the process the organization used to review this form 990 The form and all addenda were circulated to all members of the board of directors, and the materials were subsequently discussed and approved in a board meeting.”

“PART VI, SECTION C, Line 19 The organization provided copies of its governance documents to the State of Colorado as part of a tax-exempt bond issuance process. Those documents are subject to public disclosure through the public hearing process pertaining to the bond issuance.”

“No differences in voting rights or oversight responsibilities between directors of the board”

“PART VI, SECTION A, Line 2 Scott Davis and Shanna Nichols are both directors on the organizations board, and they are siblings.”

“PART VI, SECTION A, Line 9 The directors of the organization can be reached at the following addresses. Scott Davis, 31385 Burn Ln, Evergreen, CO 80439 Stephen McCullough, 1792 Scarlet Oak Trail, Oshkosh, WI 54904 Shanna Nichols,16007 Sorrento Dr, Woodway, TX 76712 Mark Schumacher, 7946 S Eudora Cir, Centennial, CO 80122”

“The Following are New Programs as of 2024 that did not have activity in 2023. CODE: 1001 - STATEREG. This ongoing effort is focused on developing and maintaining an effective regulatory relationship with the State of Colorado. The primary agency of the state through which this relationship is managed is the Colorado Housing Finance Authority (CHFA). The objective outcomes of this program are principally (a) the Regulatory Agreement governing how Fulcrum must operate, including the types of households to be served, the rents to be charged, and the state compliance reporting required by CHFA and (b) the approval by CHFA of the issuance of tax-exempt bonds to finance Fulcrums acquisitions of affordable housing units. CODE: 1002 - PORTMGT. This ongoing effort is focused on creating reliable sourcing relationships with Colorado builders, identifying housing products that meet the needs of the households Fulcrum is chartered to serve, managing the mix of properties in Fulcrums portfolio to best match the needs of the community, and contracting for acquiring new properties on good terms. The objective outcomes of this program are the growth of units in Fulcrums portfolio, the compliance of that portfolio with the mix requirements set forth in the Regulatory Agreement with CHFA, and a high level of occupancy indicating a good match between the portfolio and the needs of the community.”

“PART IX, Line 11g $106,505 Property Acquisition Fees paid to Century Communities (builder) $ 795 Banking Fees and Design Consulting Fees $107,300 Total Line 11g”