Low Income Investment Fund

“The bylaws were amended to reflect that the positions of chief executive officer and president could be held by separate people.”

“Rsm us llp and the liif staff work together in gathering the required tax information necessary to complete the tax returns. The initial draft returns are reviewed by rsm and the liif finance staff; items are discussed and reviewed, with recommended changes reflected in the returns before filing. A copy of the tax return is also provided to the organization's governing body before filing.”

“All employees are required to disclose immediately interests that could give rise to conflicts. Members of the board of directors are required to annually complete conflict of interest surveys identifying potential conflicts. The results of these surveys are communicated amongst the entire board to ensure all members are aware of potential conflicts that may arise during the year. Members of loan committees must recuse themselves from decisions that could give rise to conflicts of interest. In general, conflicts of interest are limited to individual transactions which liif is considering with organizations with which a board member may have a relationship. As a result, it is relatively straightforward to monitor compliance.”

“Key employees, as defined by irs regulations and including the ceo, are included in annual compensation review and approval. An outside independent consultant conducts a review of comparable data drawn from various sources including industry data and compensation reported by similar organizations, including review of form 990 filings. These summaries are presented to the executive committee of the board of directors (comprised of independent directors) which is responsible for reviewing compensation and recommending adjustments to the board of directors who approve the adjustments. Deliberations and decisions are substantiated.”

“Liif makes available to the public its financial statements in summary form through its annual report, which is disseminated widely and available to others upon request. Liif's audited financial statements are available to the public on it's website. The organization's by-laws, form 990 filing, and conflict of interest policy are available upon request for the same period of disclosure as set forth in section 6104(d).”

“The number of volunteers is 54. The above number includes the liif board members, the non-board loan committee members, the eastern region advisory committee members, the western region advisory committee members, and the san francisco child care facilities fund program advisory committee members.”

“Low income investment fund ("liif") is dedicated to creating pathways of opportunity for low income people and communities. Serving the poorest of the poor, liif is a steward for capital invested in community-building initiatives. In so doing, liif provides a bridge between private capital markets and low income neighborhoods. Liif partners with low income communities, community based organizations, funders, and financial institutions to create a network of support to address the challenges facing low income individuals and families. Since its founding in 1984, liif has provided $2.4 billion in financing and technical assistance for projects benefiting low income communities, leveraging investments of $12 billion. Through these projects, we have served over 2.1 million people and supported: - 77,095 units of housing; - 270,500 child care spaces; - 95,661 spaces in schools for children; and - 34.5 million square feet of community facilities. Liif is headquartered in san francisco, with offices in los angeles, new york city, atlanta, and washington d.c.”

“RETURNED GRANT 516,863.”

“The process for overseeing the audit of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.”