NCCLF 2011 Annual Report - Northern California Community Loan ...

Northern California Community Loan Fund
2011 Annual Report

...on what we do in the present
Tammy Anderson, (center) project manager at Woolf
House shares a hug with tenants Maria Galan (left)
and Diane Bunag (right).
IMPACT: PReSeRVING AFFORDABle HOuSING FOR SeNIORS
TODCO Woolf House
Since 1971, Tenants and Owners Development
Corporation (TODCO) has provided affordable
housing and services geared to seniors in the
South of Market area of San Francisco. TODCO’s
first two housing projects, known as Woolf House
I and Woolf House II, opened in 1979 and 1982,
respectively, providing a total of 182 rental units
for very low-income seniors.
“Their willingness to work with us
on the loan increase has made them an
invaluable partner to us.”
By 2007, however, these units needed extensive
renovation and upgrades, especially to meet
current ADA accessibility standards. The $12.7
million project cost originally was to be financed
by the California Housing Finance Agency
(CalHFA), and NCCLF planned to provide a
$1 million predevelopment loan. When CalHFA’s
bond rating fell with the economic downturn,
the project was delayed until 2010, causing a
significant increase in the predevelopment costs.
“NCCLF was gracious enough to loan us an
additional $500,000 so we could meet the
additional predevelopment costs caused by the
delay,” says Hector Buergos, the development
project manager at TODCO. “Their willingness to
work with us on the loan increase has made them
an invaluable partner to us.”
The renovations to Woolf House have been
transformative. Sixteen ADA-compliant units
were added, and an additional elevator has
eased delays for the residents trying to get to
the dining room at meal time. New plumbing
and paint sparkle in the kitchen and hallways,
and the recreational room stands ready for its
transformation. The renovations have not only
improved the building, they’ve improved the
quality of life for the senior citizens who live there.
IMPACT: AN eDuCATION CeNTeR FOR CHIlDReN
Richmond Maritime Child Development Center
Children are playing and learning once again in the restored Richmond Maritime Development
Center, a building rich with history. One of the first publicly-funded childcare centers for
working mothers in the United States, the Center opened its doors in 1943 to provide childcare
for mothers working in the shipyards during World War II. When the war ended in 1945, the
shipyards abruptly closed, causing such severe damage to the local economy that Richmond has
struggled to overcome it throughout its post-war history.
The Center provided childcare for many years, but eventually closed in 2004. With the help of a
$9 million allocation of New Market Tax Credits through NCCLF, it re-opened in August 2011 as
the Richmond Maritime Child Development Center. Now, it is part of the Rosie the Riveter World
War II Home Front Memorial National Historic Park, which commemorates the role women and
minorities played during the war effort.
The Center is now home to Richmond College Prep, a K-5 charter school. It also houses the
Richmond Community Foundation. The Center’s spacious community room is available to local
residents and community groups.
Students participate in a small, group reading session
at the Richmond Maritime Child Development Center.
And, beginning in May 2012, the public will be
welcomed to tour the Center, including an exhibit
of toys and furniture from the original Center.
“This is proof that when different
organizations work together, we can make
positive, permanent change to our community.”
“Seeing the transformation of the Maritime
Center has been an amazing experience,” says
Marsha Mathers-Thrift, the executive director of
the Rosie the Riveter Trust. “This is proof that
when different organizations work together, we
can make positive, permanent change to our
community.”
Mahatma Gandhi
IMPACT: ReVITAlIzING THe CeNTRAl MARKeT AReA
Mid-Market Arts Program
Over the years, NCCLF has worked with multiple community-based arts groups in
partnership with the Grants for the Arts program, by providing financial, leasing and other
technical assistance to nonprofit arts organizations throughout the Bay area. Recently,
NCCLF has been working with arts organizations that want to move to or
remain in the burgeoning Central Market Arts district.
Carlos Chavarria (left) mentors Junaid Iqbal at
SF Camerawork’s First Exposures program.
The Luggage Store Gallery, a nonprofit artistrun
multidisciplinary arts organization, is one of
those groups. The Luggage Store provides space
for local artists to gather and show their work,
organizes exhibitions and performing arts events,
arts education and public art programs for the
region’s diverse artists and residents. NCCLF
oversaw the renovation of its bottom floor rental
space and helped secure multiple funding sources
for the organization. We continue to work as an
advisor with the Luggage Store.
When Hospitality House needed a temporary
home for their Community Arts Program (CAP)
while the original site was undergoing renovations,
NCCLF helped re-locate them to the available
rental space at the Luggage Store Gallery. CAP
is the only free-of-charge fine arts studio for homeless and poor
artists in San Francisco. They supply the materials and space
necessary to create, house, exhibit, and sell their artwork. Since
their move to the emerging Central Market Arts district, art
sales have tripled, art opening attendance has increased, the
number of people stopping to view the art in the windows has
quadrupled, and neighborhood businesses and organizations
are starting to exhibit the art in their spaces. With the increased
publicity since moving to the Mid-Market area, Hospitality House
is now looking to remain permanently at the new location.
“NCCLF was there for us throughout the entire process,
providing invaluable guidance right up to opening day
in our new Mid-Market space.”
SF Cameraworks is a nonprofit arts organization that encourages
emerging artists to explore film and related media. Its First
Exposures program uses art education to develop transferable
skills and foster supportive intergenerational relationships
between artists and under-served Bay Area youth. When the
organization moved to the Mid-Market area, they turned to
NCCLF for guidance. “NCCLF’s real estate consulting services
were an invaluable resource in the planning of our relocation,”
says Hal Fischer, treasurer at SF Cameraworks. “The staff is
knowledgeable and experienced - they could speak directly
to the opportunities and challenges. NCCLF was there for us
throughout the entire process, providing invaluable guidance
right up to opening day in our new Mid-Market space.”
Because of our work in the Mid-Market area, we were chosen as
one of the lead advisors for the Mayor’s Central Market Economic
Strategy on how to enhance the creative arts community. The
Strategy is an action plan on how to revitalize and restore the area
to its position as a vital commercial center. NCCLF was one of the
lead advisors Although the strategy is long-term, NCCLF’s impact
is already visible in the Mid-Market arts community.
Darryl Smith, curator of the Luggage Store
Gallery, looks out on the Mid-Market
neighborhood from the gallery rooftop.
Artist Marion Hunt works on a drawing
at Hospitality House’s Community Arts
Program in the Mid-Market area.
870 Market Street
Suite 677
San Francisco, CA 94102
Tel: 415.392.8215
Fax: 415.392.8216
Central Valley Office
4949 E. Kings Canyon Road
Suite 108
Fresno, CA 93727
559.452.0327
www.ncclf.org
Photography
Cover photo: Julio Martinez
All photos on this side: Julio Martinez

A Message from
NCCLF ’s President
and Chair
“The future depends on what we do in the
present.” Gandhi’s seemingly simple observation
is surprisingly useful to all of us who work for
a better future for low-income people and
communities. More than a mere statement of fact,
it actually presents a challenge: if we want a better
future, what are we willing to do right now to
make it happen?
This Annual Report describes NCCLF’s answer to that challenge; how we provide financing and
financial expertise to the community-based organizations that are the true change agents in distressed
communities.
All you need to know about what NCCLF does in service to the future is right here in this Annual
Report. We rely on our dedicated investors - banks, religious communities, philanthropic foundations,
and hundreds of individuals - to lend us the capital so often unavailable in poor communities. We put
those investments to work to build affordable housing, support and expand health care, and create new
opportunities through job training, child care, and charter schools. The community services we support
and strengthen enable low-income people to grow, study and learn, find good jobs, and care for their
families. What we do in the present restores dignity, rebuilds neighborhoods, and renews and revitalizes
entire communities.
We at NCCLF are proud of our work, and are honored to work with our nonprofit clients and community
partners who share our commitment to economic and social justice. Without these collaborative
partners, “practical visionaries” as we call them, NCCLF could not do its work. With gratitude and
admiration for their unswerving commitment to a better future, we dedicate this report to them.
Mary A. Rogier Kirke Wilson
President Chair, Board of Directors
SOCIAl IMPACT: BRINGING New CAPITAl TO COMMuNITIeS IN NeeD
All photos on this page: Roy Manzaneres
Mary A. Rogier, NCCLF President Kirke Wilson, Chair, NCCLF
Board of Directors
Our Vision
NCCLF envisions
financially strong and
culturally vibrant
communities where
each person has
access to decent
jobs, homes, health
care, education, and
economic opportunities.
We work in partnership
with individuals and
organizations who
share our vision of
sustainable communities
and social and
economic justice.
CONDeNSeD STATeMeNT OF FINANCIAl POSITION
Year ended September 30, 2011
ASSETS
General Fund Loan Fund Total
Cash and Investments $ 4,481,945 $ 17,963,672 $ 22,445,617
Loans to Community Borrowers $ $ 15,247,927 $ 15,247,927
Other Assets $ 2,109,534 $ 811,454 $ 2,920,988
TOTAL ASSETS $ 6,591,479 $ 34,023,053 $ 40,614,532
LIABILITIES AND NET ASSETS
Interest and accounts payable $ 345,051 $ 473 $ 345,524
Notes Payable to Community Investors $ $ 27,140,500 $ 27,140,500
Other Liabilities $ 1,936,196 $ $ 1,936,196
TOTAL LIABILITIES $ 2,281,247 $ 27,140,973 $ 29,422,220
Unrestricted Net Assets $ 4,078,429 $ 6,882,080 $ 10,960,509
Temporarily restricted Net Assets $ 231,803 $ 231,803
TOTAL NET ASSETS $ 4,310,232 $ 6,882,080 $ 11,192,312
TOTAL LIABILITIES & NET ASSETS $ 6,591,479 $ 34,023,053 $ 40,614,532
CONDeNSeD STATeMeNT OF ACTIVITIeS AND CHANGeS IN NeT ASSeTS
Year ended September 30, 2011
Unrestricted Temporarily Restricted Total
SUPPORT AND REVENUE
Grants and contributions $ 1,775,593 $ 215,000 $ 1,990,593
Interest and investment income $ 696,440 $ $ 696,440
New Markets Tax Credit Income $ 403,440 $ 403,440
Consulting and other Fee Income $ 347,741 $ $ 347,741
Net assets released from restrictions $ 374,490 $ (374,490) $-
TOTAL SUPPORT & REVENUE
EXPENSES
Program services:
$ 3,597,704 $ (159,490) $ 3,438,214
Direct lending $ 819,200 $ $ 819,200
New Market Tax Credit $ 241,554 $ 241,554
Consulting and grant $ 877,561 $ $ 877,561
Capitalization $ 350,707 $ $ 350,707
Total Program Services
Supporting services:
$ 2,289,022 $ $ 2,289,022
Management and general $ 236,762 $ $ 236,762
Fundraising $ 255,485 $ $ 255,485
TOTAL ExPENSES $ 2,781,269 $ $ 2,781,269
Change in net assets $ 816,435 $ (159,490) $ 656,945
Net assets, beginning of year $ 10,144,074 $ 391,293 $ 10,535,367
NET ASSETS, ENd OF yEAR $ 10,960,509 $ 231,803 $ 11,192,312
The financial information provided is drawn from the Northern California Community Loan Fund’s audited financial statements.
Copies will be provided by NCCLF upon request.
ECONOMIC
DEVELOPMENT
FACILITY
HOUSING
28%
ARTS AND
EDUCATION
31%
AFFORDABLE
HOUSING
36%
HEALTH AND
HUMAN SERVICES
1%
NONPROFITS/
ASSOCIATIONS
3%
GOVERNMENT
Donors
Organizations
$50,000 and Up
Bank of America
Annie E. Casey Foundation
Citi
The Hearst Foundations
Community Development
Financial Institution Fund
$1000 - $49,000
Anonymous
Arts Symposium
Bank of the West
Bank Leumi
Borel Private Bank and Trust
Catholic Healthcare West
J. P. Morgan Chase & Co.
Comerica Bank
Equity Community Builders
Firedoll Foundation
First Republic Bank
Greene Radovsky
Maloney Share
William and Flora
Hewlett Foundation
Low Income Investment Fund
Mechanics Bank
Northern Trust, NA
San Francisco Foundation
SCM Advisors LLC
Silicon Valley Bank
Sisters of St. Joseph of Orange
State Street Foundation
Sterling Bank
U.S. Bank
Union Bank
Wells Fargo Bank
Wells Fargo of California
Insurance Services, Inc.
WE ARE GRATEFUL FOR THE GENEROSITY OF OUR DONORS
Up to $999
BRIDGE Housing Corporation
California Economic
Development Lending
Initiative
Franklin Templeton Bank
Tenderloin Neighborhood
Development Corporation
Individuals
$5,000 and Up
Holly Badgley and
Peter Stern
Kimo Campbell (Deceased)
S.W. Dittenhofer III
Tom Meyer and
Julie Stevenson
Gertrude Reagan
Patricia Wolfe
$1000 - $4,900
Anonymous
Clara Basile
Craig Burke and
Molly Lazarus
Susan Chamberlin
Laurie Cohen
David A. Friedman
Adrienne Hirt and
Jeffrey Rodman
Michael H. Kieschnick
Marineau Family Foundation
Paulette Jean Meyer
Sarah Nelson and
Mary A. Rogier
Pamela Merchant and
Kirby Sack
Elisabeth Hardman Rix
Susan Vickers, RSM
Our Mission
6%
ECONOMIC
DEVELOPMENT
The Northern California
Community Loan Fund promotes
economic justice and alleviates
poverty by increasing the financial
resilience and sustainability of
community-based nonprofits and
enterprises. Through flexible financial
products and sound advice, we create
opportunities to make socially
responsible investments
that revitalize
Northern California
communities.
$500 - $999
Anonymous
Elizabeth Boardman
Jean Driscoll
Samuel Hale
Holly Hayes and Carl Stern
Ann M. Hatch
Steve Oliver
Elizabeth Pigford
Margaret J. Stone
Kirke and Anne Wilson
Up to $499
Anonymous
Guy Baldwin
Angela Brasov
Alvin H. Baum, Jr.
Ann F. Cameron
Lisa Chen
John Cotton
Regina Davis
Margaret Diener, OP
Gurpal Dosanjh
David Leland Fair and
Vickie Scott Grove
Joseph Fong
Eloise Fox
Margo George
Hadley Dale Hall
John Harrington
Alfred Heller
Jim Illig
Paul Kivel
David Krimm
Bill and Maria Lambert
Olson Lee
David Lingren and
Ilana Schatz
Larry Litvak
17%
RELIGIOUS/HEALTH
ORGANIZATIONS
Robert T. Matthew, Jr.
Liana Mortazavi
Danielle McArthur and
Michael Murray
Robert C. McConnell
David A. Okazaki
Jamie Osborn and
Monica L’Esperance
Glenda Pawsey
Patrick Reed
William Roth
Jack Sawyer
Kimberly Scala and
Akaya Windwood
Marie Schutz
Sherry Simmons
Paul Sussman
Dolores Taller
Lydia Tan
Kenneth S. Taymor
Karen Weil
Sandy Weil
Mark Weisman
Ilene Weinreb
Anna Yee
In-Kind Donors
Cooley Godward Kronish, LLP
Dechert, LLP
Dreamhost
Federal Reserve Bank of San Francisco
Greene Radovsky Maloney Share & Hennigh, LLP
Google
Microsoft
Morrison & Foerster
Northern Trust, NA
Orrick, Herrington & Sutcliffe, LLP
Salesforce.com Foundation
Sherman & Sterling
28%
BANKS
20%
PERMANENT
CAPITAL
17%
FOUNDATIONS
13%
INDIVIDUALS
MEMORIAL CONTRIBUTIONS IN
HONOR OF WALTER MONASCH
Walter Monasch, an NCCLF board
member from 1989 - 1999, passed
away in August, 2011. Walter served
as Board Chair from 1996 - 1999,
a critical growth period for the
Fund. Walter was joyous about life
and we thank him for sharing that
indistinguishable joy with us and the
people we serve. We will miss him.
The following people made memorial
contributions to NCCLF in his honor:
Lois Epstein, MD
Ken Kofman
Evelyn Mabbe
Mary L. Moore
Mary A. Rogier
Peter Stern and Holly Badgley
Paul Sussman
Nora J. Thompson
Kirke and Ann Wilson
Investors
Individuals
Anonymous
Ralph Alpert
Robert Bacon
Holly Badgley and
Peter Stern
Jane Baker
Barbara Fletcher Barbour
Peter Barnes
Ted and Mary Barone
Alvin H. Baum, Jr.
Jesse Bean
Benjamin Bear and
Nancy Noah-Bear
Laurie Bernstein
Iris Biblowitz
Richard Billington and
Dorrit Billman
Joani Blank
Elizabeth Boardman
Peter Brastow
William and Victoria Bruckner
Richard Bernius - Busgang Trust
Erin Callahan
Kimo Campbell
Carol Cavanaugh
Chechanover Family Trust
Cory Cherk and
Chris Davidson
Joanie Ciardelli
Mary Ann Cobb
Gabriel D. Speyer
Cordes Family Foundation
Cotton Family Trust
Linda Dallin and
Paul Sussman
Judith Dambowic
S. W. Dittenhofer III
Paul Drescher and
Roberta Friedman
Marta Drury
James R. Eitel
Caroline L. Everts
Michael S. Falk
Susan Frank
Alexandra Freidus
David Friedman
Max Meyer Friedman
Meryl Meyer Friedman
Mary Ford and Robert Lewis
Richard Galloway and
Zoia Horn
Elspeth Gilmore
Marty Glick and
Judy Zollman
Lenore Goldman
Gray Family Trust
Staff
Mary A. Rogier
President
Jonathan Austin
Real Estate Consultant
Guy Baldwin
Business Systems Analyst
Leiasa Beckham
Real Estate Consultant
Lori Campbell
Financial Management Consultant
Board of Directors
Elizabeth Boardman
Community Activist
Ann F. Cameron
Senior Vice President/Banking Manager
Northern Trust Bank
Regina Davis, Executive Director
San Francisco Housing Development Corp.
Thomas Collishaw (Chair)
Vice President, Director of Development
Self-Help Enterprises
John Chan, Vice President, US Bank
Arthur Dyson, Architect, AIA, IAA
WE ARE GRATEFUL FOR THE COMMITMENT OF OUR INVESTORS AND FINANCIAL PARTNERS
Deborah Gray
Michael and Claire Gray
Patricia GoPaul
Marion E. Greene Trust
Ilene L. Gusfield
Hadley Dale Hall and
L. Warde Laidman
Mike Hannigan
Holly Hayes and Carl Stern
Alice Henry
Adam Hochschild
Lisa Honig
Glenda Hope
Martha Hyde
David Jaber
Lona Jupiter
Karuna Trust
Gunther Kay Non Marital Trust
Paul Kivel and Mary Luckey
Joseph Kresse
Suzanne LaFetra
Alan B. Lans
Karen Larsen
Jennifer Leeds
Stephen L. Leeds
Myra Levy and Charlie Varon
Richard D. Lewis, Jr.
Conny Lindley
David Lingren and Ilana Schatz
Oliver H.P. Lloyd
Longinotti Revocable Living Trust
Sara C. Lovell
Shan Magnuson
Stephen Matchett
Arlene Mayerson
Danielle McArthur and
Michael Murray
Adair McClatchy
Chris McCluney
Robert C. McConnell
Pamela Merchant
Kate Meyer
Paulette Meyer
Mark Morris and Karen Weil
Phyllis Murphey
Suse Nakata
Zaitlin-Nienberg Family Living Trust
Susan Lynn and Sorca M. O’Connor
Henry Obermayer
Daniel Van Olst
Jeffrey A. Ordower
Wendy Oser
Alma En Paz
Hanna Pitkin
Elizabeth Jane Rankow Trust
Rhine Living Trust
Charlotte Rieger
Ross Culverwell
Director of Lending
Teresa Davis
Consulting Program Analyst
Shobna Dhewant
Senior Loan Office
Kelly Ehrenfeld
Loan Associate
Kavita Gobburi
Loan Officer
Maureen DeCoste
Development/Marketing Associate
Moy Eng, Executive Director
Community Schools of Music and Arts
Pat GoPaul, Esq., Vice President
Impact Community Capital
Andy Madeira, Vice President
Community Development Banking
JP Morgan Chase Bank, N.A.
NCCLF Central Valley Advisory Council
Bond Rifas Trust
Elisabeth Hardman Rix
Joan and Bill Robbins
Hirt-Rodman Family Trust
Mary A. Rogier
William Roth
Meredith Sabini
Kirby Sack
Peter S. Samis
Mark Schack
Marie Schutz
Sherri Schultz
Jane Segal
Susan Severin
Aaron/Sherman Trust
Alissa Shethar
Patricia Silver
Sally Smyth
William Stewart
Janet Stone
Dolores Taller
Wendy Tanowitz
Frances Taylor
Bonnie Thomas
Marianna Tubman
Alfred Twu
Elia and Halimah Van Tuyl
Susan Vickers, RSM
Volkmann Family
Limited Partnership
Albert Wald
Léonie Walker
Sandy Weil
James and Janet Wenninger
Robert Winant
Molly and Dennis Wuthrich
Richard Yurman
Banks
BBVA Compass
Bank of America
Bank of the West
Borel Private Bank & Trust Co.
Charles Schwab Bank
Compass Bank
First Republic
Manufacturers Bank
J. P. Morgan Chase Bank, N.A.
Northern Trust Company
Presidio Bank
U.S. Bancorp Community
Development Corporation
United Commercial Bank
United Labor Bank, Fsb
Wells Fargo Community
Development Corporation
Grayton Huang
Senior Accountant
Joanne Lee
Director of Financial Consulting
and Program Development
Eddy Lopez Jr.
Executive Assistant
Cristian Martinez
Administrative Coordinator
Janna Mancini
Development Associate
Eric Foley
Loan and Compliance Associate
Amy Rassen, President
Rassen and Associates
Ilana Schatz
Community Activist
Margaret Stone
Community Activist
Gabriela Mello, Community, Relations Officer, Citi Bank
Camille Pannu, Staff Attorney
Center on Race, Poverty & the Environment
Debbie Raven, Executive Director
Small Valley Business Corporation
Foundations
People’s Life Fund
Calvert Social Investment Foundation
Friedman Family Foundation
Erich and Hannah Sachs Foundation
Wallace Alexander Gerbode Foundation
Annie E. Casey Foundation
S.H. Cowell Foundation
The San Francisco Foundation
The California Endowment
Religious Institutions
Sisters of Charity of the
Blessed Virgin Mary
Marist Society, Inc.
California Province, Society of Jesus
Dignity Health
Sisters of St. Joseph of Orange
Sinsinawa Dominicans
Sisters of the Holy Names of Jesus
and Mary, Province of California
St. John’s Presbyterian Church-Berkeley
Congregation of the Sisters of Charity
of the Incarnate Word
Sister of Mercy of the Americas West
St. Joseph Health System
Catholic Health Initiatives
St. Ignatius Church
Mercy Investment Services, Inc.
Trinity Health Corporation
Marianist Province of the
United States
Religious Communities
Investment Fund
San Francisco Network Ministries
Nonprofits and
Government Agencies
Community Development Financial
Institutions Fund
Community Economics, Inc.
Stiles Hall
Financing Partners
Dignity Health
Enterprise Community Loan Fund
Local Initiatives Support Corporation
Low Income Investment Fund
NCB Capital Impact
New Market Tax Credit Partners
Clearinghouse CDFI
J. P. Morgan Chase Bank, N.A.
National Development Council
Nonprofit Finance Fund
San Francisco Community Investment Fund
U.S. Bank
Alice Rocha
Business Development Loan Officer
C. Lea Salem
Director of Finance and Administration
Sherry Simmons
Director of Resource Development
Joshua Simon
Director of Real Estate
Karen Sullivan
Loan Officer
David Wilkinson
Real Estate Consultant
Lydia Tan, Executive Vice President
Director, Northern California Operations
Related California
Anna Yee, Deputy Director
Chinatown Community Development Center
Kirke P. Wilson (Board Chair)
Community Activist
Tim Rios, Senior Vice President and Community
Development Manager, Wells Fargo
Dr. Vida Samiian, Dean of Arts and Humanities
California State University of Fresno
Michael Sigala, Sigala, Inc.
Dennis Woods, President, United Security Bank