Low Income Investment Fund in San Francisco, California (CA)

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Low Income Investment Fund
Employer Identification Number (EIN)942952578
Name of OrganizationLow Income Investment Fund
In Care of NameRoxanne Huey
Address100 Pine St Ste 1800, San Francisco, CA 94111-5204
ActivitiesOther housing activities
SubsectionCharitable Organization
Ruling Date10/1986
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2013
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$195,548,781
Amount of Income$27,937,254
Form 990 Revenue Amount$19,451,378
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Expense Reduction Support


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Amount of income in 2013: $27,937,254
Low Income Investment Fund: 

 $27,937,254
Other organizations performing similar types of work: 

 $1,681,305

Assets in 2013: $195,548,781
This organization: 

 $195,548,781
Other organizations performing similar types of work: 

 $2,824,193

Expenses in 2013: $14,193,809
Low Income Investment Fund: 

 $14,193,809
Other organizations performing similar types of work: 

 $1,277,915

Income to expenses ratio in 2013: 2.0
This organization: 

 2.0
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 84.9%
Low Income Investment Fund: 

 84.9%
Other organizations performing similar types of work: 

 90.3%

Number of employees in 2013: 66
Low Income Investment Fund: 

 66
Other organizations performing similar types of work: 

 8

Employees paid over $100,000 in 2013: 36.4%
Low Income Investment Fund: 

 36.4%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 27.1%
Low Income Investment Fund: 

 27.1%
Other organizations performing similar types of work: 

 43.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesNo
Was the organization included in consolidated, independent audited financial statements for the tax year?NoYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?YesNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?YesYes
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10967866
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return5866
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$2,379,441$2,446,080
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$214,578$266,964
Total number of individuals who received more than $100,000 of reportable compensation from the organization1315
Total number of independent contractors who received more than $100,000 of compensation from the organization89
Statement of Revenue
201120122013
Total revenue$28,997,116$30,044,608$19,451,378
Contributions, Gifts, Grants and Other Similar Amounts$16,402,862$15,849,844$5,280,960
Program Service Revenue$11,919,028$13,202,803$13,315,454
Other Financial Vehicles $6,568,860$7,437,857
Other Financial Vehicles $3,595,424$1,736,933
Other Financial Vehicles $2,459,032$2,885,884
Other Financial Vehicles $579,487$1,254,780
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$494,728$546,490$463,038
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$119,592$385,138$24,364
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $17,154,109$17,610,137 / $2,587,800$8,510,240 / $0
Less: cost or other basis and sales expenses (Securities / Other)$0 / $17,034,517$17,261,983 / $2,550,816$8,485,876 / $0
Gain or (loss) (Securities / Other)$0 / $119,592$348,154 / $36,984$24,364 / $0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$60,906$60,333$367,562
523000$52,365$8,878
Other Financial Vehicles $7,968$346,614
900099$0$12,070
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$13,463,752$16,932,258$14,193,809
Grants and other assistance to domestic organizations and domestic governments$1,968,812$559,515
Grants and other assistance to domestic individuals$90,819$39,000
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$0$1,784,013$1,902,561
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$6,380,414$5,008,228$3,896,816
Pension plan accruals and contributions$0$144,864
Other employee benefits$0$308,978
Payroll taxes$0$0$399,957
Fees for services (non-employees)
Management$252,453$114,163
Legal$278,289$282,300
Accounting$44,822$174,455
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$101,562$102,442
Other$2,639,774$1,154,082
Advertising and promotion$0$0
Office expenses$423,962$557,959
Information technology$0$0
Royalties$0$0
Occupancy$732,355$728,485
Travel$343,886$387,796
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$35,809$35,531
Interest$1,053,960$1,194,456
Payments to affiliates$0$0
Depreciation, depletion, and amortization$165,341$182,525
Insurance$0$147,170
Other expenses$1,517,158$879,314
Other expenses$101,202$381,636
Other expenses$254,312$175,746
Other expenses$72,096$91,108
Other expenses$63,405$352,950
Balance Sheet
201120122013
Total assets$166,189,220$192,789,956$195,548,781
Cash - non-interest-bearing$9,334,827$1,776,325
Savings and temporary cash investments$37,394,308$39,242,700
Pledges and grants receivable, net$7,045,734$3,501,970
Accounts receivable, net$1,825,994$838,855
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$119,495,121$132,017,176
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$492,346$506,576
Land, buildings, and equipment: cost or other basis$399,735$301,195
Investments - publicly traded securities$16,045,160$16,370,943
Investments - other securities$0$0
Investments - program-related$68,473$73,161
Intangible assets$0$0
Other assets$688,258$919,880
Total liabilities$104,072,926$117,906,388$116,583,931
Accounts payable and accrued expenses$3,065,191$2,902,698
Grants payable$1,810,170$2,712,787
Deferred revenue$0$814,520
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$13,777,669$15,019,300
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$87,897,454$99,219,454$95,022,438
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$33,904$112,188
Total net assets or fund balances$62,116,294$74,883,568$78,964,850
Unrestricted net assets$32,686,482$35,421,513
Temporarily restricted net assets$42,197,086$43,543,337
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$42,169,377
Subtotal Support$49,414,488
Gifts, grants, contributions, and membership fees received$49,414,488
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$7,245,111
Total Support$52,248,610
Public Support$49,414,488
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$2,834,122
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$65,912,627
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$9,305,847$11,965,900$13,733,346$10,594,580$13,827,034$13,634,885$17,667,978$27,619,679
Contributions, gifts, grants, and similar amounts received$4,840,963$7,276,236$7,048,087$3,028,018$5,188,462$3,470,476$3,394,974$9,824,369
Contributions to donor advised funds$0$0
Direct public support$2,175,908$3,703,754$2,645,835$3,028,018$3,768,462$2,146,126$2,184,099$3,324,119
Indirect public support$0$0$0$0$100,000$0$0$0
Government contributions (grants)$2,665,055$3,572,482$4,402,252$0$1,320,000$1,324,350$1,210,875$6,500,250
Program service revenue including government fees and contracts$648,500$616,147$3,584,015$5,912,913$7,360,601$8,811,594$12,054,610$15,694,369
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$3,811,934$4,239,057$76,858$0$0$0$2,356,618$1,713,630
Dividends and interest from securities$0$0$1,817,667$1,465,065$1,283,192$1,742,490$0$0
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$-179,860$1,191,190$185,120$-12,694$-397,501$-166,312$360,753
Gross amount from sales of assets other than inventory$0$65,327,457$105,462,113$356,992,033$298,911,725$631,214,827$830,552,618$19,735,690
Less: cost or other basis and sales expenses$0$65,507,317$104,270,923$356,806,913$298,924,419$631,612,328$830,718,930$19,374,937
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$4,450$14,320$15,529$3,464$7,473$7,826$28,088$26,558
Total expenses$7,600,600$9,090,778$8,428,074$10,059,481$11,365,760$13,780,969$17,300,511$18,088,678
Program services$6,205,246$6,302,390$5,696,282$7,086,437$7,946,605$9,925,190$13,901,634$15,361,346
Management and general$1,056,358$2,454,676$2,445,304$2,662,570$2,956,562$3,402,112$2,797,809$2,113,996
Fundraising$338,996$333,712$286,488$310,474$462,593$453,667$601,068$613,336
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$17,381,471$20,491,686$26,008,236$25,539,376$28,296,724$27,846,307$28,219,156$37,618,523
Excess or (deficit) for the year$1,705,247$2,875,122$5,305,272$535,099$2,461,274$-146,084$367,467$9,531,001
Net assets or fund balances at beginning of year$15,326,818$17,381,471$20,491,686$26,008,236$25,539,376$28,296,724$27,846,307$28,219,156
Other changes in net assets or fund balances$349,406$235,093$211,278$-1,003,959$296,074$-304,333$5,382$-131,634
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$18,088,678$15,361,346$2,113,996$613,336
Grants paid from donor advised funds$0
Other grants and allocations$3,065,559
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$706,056$157,300$548,756$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$4,931,906$4,012,106$485,648$434,152
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$151,572$0$128,660$22,912
Legal fees$4,303,701$3,833,489$386,495$83,717
Supplies$0$0$0$0
Telephone$61,354$52,037$6,548$2,769
Postage and shipping$0$0$0$0
Occupancy$500,109$400,904$72,785$26,420
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$252,895$170,344$74,290$8,261
Conferences, conventions, and meetings$32,263$16,163$15,520$580
Interest$2,604,101$2,508,454$95,647$0
Depreciation, depletion, etc.$183,502$133,577$39,565$10,360
Other expenses not covered above$1,295,660$1,011,413$260,082$24,165
Balance Sheets
20002001200220032004200520062007
Total assets$72,660,345$78,409,808$87,925,271$102,603,724$126,454,026$122,685,513$135,212,472$151,954,544
Cash - non-interest-bearing$0$0$0$2,613,869$4,485,186$4,028,385$1,783,933$3,404,410
Savings and temporary cash investments$20,240,948$12,547,090$11,590,225$12,463,682$14,798,396$33,994,167$35,596,471$43,349,106
Accounts receivable less allowance for doubtful accounts$98,847$40,234$1,257,231$632,355$3,920,398$2,196,808$2,685,426$4,818,543
Pledges receivable less allowance for doubtful accounts$1,229,447$2,463,313$1,008,589$870,000$2,032,000$663,500$361,238$475,000
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$22,233,895$26,970,159$36,002,600$49,553,056$66,333,473$64,864,638$83,045,820$83,325,583
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$65,841$66,446$64,730$196,812$366,787$284,433$371,476$437,860
Investments - publicly-traded securities$5,555,077$3,476,306
Investments - other securities$28,015,588$35,351,203$36,990,842$35,253,051$33,349,658$15,623,014$4,782,928$8,036,180
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$261,765$251,450$426,064$443,383$492,172$549,317$380,213$540,348
Other assets, including program-related investments$514,014$719,913$584,990$577,516$675,956$481,251$649,890$4,091,208
Total liabilities$55,278,874$57,918,122$61,917,035$77,064,348$98,157,302$94,839,206$106,993,316$114,336,021
Accounts payable and accrued expenses$487,629$656,382$697,165$1,207,129$918,003$1,294,321$1,599,518$5,304,428
Grants payable$200,000$200,000$0$250,000$250,000$250,000$0$0
Deferred revenue$83,493$31,986$450$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$52,342,167$55,103,833$59,733,833$74,055,311$90,237,632$88,494,710$91,014,280$100,597,151
Other liabilities$2,165,585$1,925,921$1,485,587$1,551,908$6,751,667$4,800,175$14,379,518$8,434,442
Total liabilities and net assets/fund balances$72,660,345$78,409,808$87,925,271$102,603,724$126,454,026$122,685,513$135,212,472$151,954,544
Total net assets or fund balances$17,381,471$20,491,686$26,008,236$25,539,376$28,296,724$27,846,307$28,219,156$37,618,523
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$9,305,847$11,965,900$13,733,346$10,594,580$13,827,034$13,634,885$17,667,978$27,619,679
Total revenue, gains, and other support per audited financial statements$10,215,684$12,170,346$13,974,927$9,377,592$13,866,148$13,272,765$17,561,872$27,460,086
Other expenses$1,041,393$426,958$441,084$-935,825$336,354$-136,833$102,237$-116,633
Net unrealized gains on investments$349,406$235,093$211,278$-1,003,959$296,074$-304,333$5,382$-131,633
Donated services and use of facilities$691,987$191,865$229,806$68,134$40,280$167,500$96,855$15,000
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$131,556$222,512$199,503$281,163$297,240$225,287$208,343$42,960
Investment expenses$131,556$222,512$199,503$281,163$297,240$225,287$208,343$42,960
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$7,600,600$9,090,778$8,428,074$10,059,481$11,365,760$13,780,969$17,300,511$18,088,678
Total expenses and losses per audited financial statements$8,161,031$9,060,131$8,458,377$9,846,452$11,108,800$13,723,182$17,189,023$18,060,718
Other revenue$691,987$191,865$229,806$68,134$40,280$167,500$96,855$15,000
Donated services and use of facilities$691,987$191,865$229,806$68,134$40,280$167,500$96,855$15,000
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$131,556$222,512$199,503$281,163$297,240$225,287$208,343$42,960
Investment expenses$131,556$222,512$199,503$281,163$297,240$225,287$208,343$42,960
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$303,756$19,920$62,247
40$245,000$28,428$10,048
40$157,300$21,461$16,005
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings16
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200672
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$2,100,941$15,694,369
Program service revenue
Program service revenue 1000000$000$0$596,668
Program service revenue 2000000$000$0$746,381
Program service revenue 3000000$000$0$8,083,690
Program service revenue 4000000$000$0$6,267,630
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,713,630$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$360,753$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$26,558$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
999999999100%$385,565$8,695,209
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$120,420$4,907$3,668
$153,817$7,237$8,824
$138,550$18,083$2,604
$134,080$5,733$1,502
$110,865$4,205$0
Total number of other employees paid over $50,00036
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$5,400
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$6,544,226$9,305,847$10,919,001$12,748,347$11,172,657$19,792,126$14,032,386$17,834,290
Gifts, grants, and contributions received$3,217,988$4,840,963$5,990,863$8,471,275$3,166,157$7,220,462$3,470,476$3,394,974
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$606,218$648,500$674,761$2,367,018$6,537,789$11,280,999$8,811,594$12,054,610
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$2,711,929$3,811,934$4,239,057$1,894,525$1,465,065$1,283,192$1,742,490$2,356,618
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$8,091$4,450$14,320$15,529$3,646$7,473$7,826$28,088
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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1Low Income Investment Fund100 Pine St Ste 1800, San Francisco, CA 94111-5204CA1986-10$27,937,254
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3Alabama Business Charitable Trust Fund IncPO BOX 2641, Birmingham, AL 35291-0001AL1992-05$9,557,141
4Energy Services Inc1225 S Park St, Madison, WI 53715-2101WI1984-03$7,269,371
5Cincinnati Development Fund Inc1100 Walnut St, Cincinnati, OH 45202-7225OH1989-09$5,483,331
6Indiana Utility Rate Payer Tr55 Monument Cir Ste 800, Indianapolis, IN 46204-2951IN1999-07$4,489,497
7Okaloosa Community Development Corporation204 Cloverdale Blvd, Ft Walton Bch, FL 32547-1406FL1994-12$1,688,950
8Westminster Foundation Inc1305 Bobby Ln, Westlake, OH 44145-6916OH1998-07$1,328,666
9Affordable Housing Community Development CorporationPO BOX 264, Henderson, TN 38340-0264TN1995-08$812,861
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12Victorine Q Adams Fuel Fund IncPO BOX 1898, Baltimore, MD 21203MD1979-03$409,677
13Capital Affordable Housing Funding Corporation255 Orange St, Albany, NY 12210-2400NY1991-06$336,162
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15Utility Emergency Services Fund1617 John F Kennedy Blvd Ste 840, Philadelphia, PA 19103-1808PA1983-06$2,846,422
16Stovall Development CorporationC/O 8616 La Tijera Blvd, Los Angeles, CA 90045CA1966-03$1,823,494
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Number of organizations performing similar types of work
Alabama1
California3
Connecticut2
Delaware1
Florida1
Georgia1
Illinois6
Indiana2
Massachusetts1
Maryland2
Michigan1
Missouri1
Montana2
New Hampshire1
New Jersey1
Nevada1
New York4
Ohio3
Oregon2
Pennsylvania3
Tennessee1
Texas2
Washington1
Wisconsin1
Total44

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