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RE: CDFI for school rehab/childcare development

Wed, 2018-10-31 11:04
From : Communities>>Open Forum
Hi Stewart, Several of our clients might be interested in this. I would need to know a bit more about the project and organization supporting it to suggest the right groups.  If you'd like to discuss, give me a call at the number below. Good luck! Best, Peter ------------------------------ Peter Schaeffing High Impact Financial Analysis Albany NY 518-599-0482 ------------------------------

RE: CDFI for school rehab/childcare development

Wed, 2018-10-31 09:41
From : Communities>>Open Forum
Hi Stewart, I am a TKPK resident and work at the Washington Area Community Investment Fund (Wacif). We have invested in childcare centers and could be something we would be interested in. I'd love to connect you with our Director of Lending to better understand their plans and the need. Send me a note: kfryatt@wacif.org ------------------------------ Kevin Fryatt Director of Finance and Administration Washington Area Community Investment Fund ------------------------------

RE: CDFI for school rehab/childcare development

Wed, 2018-10-31 09:38
From : Communities>>Open Forum
Good morning! You should reach out to Abigail Suarez with Capital Impact Partners. She can be reached at  asuarez@capitalimpact.org or (703) 647-2323. ------------------------------ Christopher Earley VP of Development, Mid-Atlantic Region Michaels Development Company Washington DC (202) 838-8050 ------------------------------

RE: Request for Article on CDFI Financials

Tue, 2018-10-30 21:52
From : Communities>>Open Forum
​Lance, Thank you!  I just downloaded the report, I look forward to seeing the differences between banks and credit unions.  It looks like great information, I now have enough to keep me busy a while. Thanks! ------------------------------ Michelle Lacombe CPA National Credit Union Administration (NCUA) Baton Rouge LA (703)609-5934 ------------------------------

RE: Request for Article on CDFI Financials

Tue, 2018-10-30 21:50
From : Communities>>Open Forum
​Jenny, There is some wonderful information available!  I intend to call to see if I can access the 2017 report; however, I was able to download a comparison report for banks and credit unions from 2015.  Which I intend to read. Thank you! ------------------------------ Michelle Lacombe CPA National Credit Union Administration (NCUA) Baton Rouge LA 70808 (703)609-5934 ------------------------------

RE: Request for Article on CDFI Financials

Tue, 2018-10-30 21:43
From : Communities>>Open Forum
​Seth, This is fantastic! Do you also have access to a similar article concerning banks?  I would love to see if the differences are drastic as the majority of banks are for profit. I plan to read this and share with my peers! Thanks! ------------------------------ Michelle Lacombe CPA National Credit Union Administration (NCUA) Baton Rouge LA (703)609-5934 ------------------------------

RE: Pacific NW/ Alaska/ West Coast CDFI Experienced CPA Auditors/ Firms

Tue, 2018-10-30 14:47
From : Communities>>Open Forum
Caprice, Peterson Sullivan LLC in Seattle has been our audit firm since inception and I recommend that you include it on your RFP list. The firm has a large NFP client base and, to my knowledge, audits at least three CDFIs in the Pacific NW.  Please feel free to contact me directly ( nng@rvcdf.org ) and I can connect you with our audit partner as well as share a list of Seattle area audit firms that we considered in our last round of RFPs in 2016. Most regional PNW firms have Alaska clients. Be sure [More]

CDFI for school rehab/childcare development

Tue, 2018-10-30 14:43
From : Communities>>Open Forum
Hello, a group of organizers in Takoma Park, MD on the DC border are looking at purchasing a small school built in 1933 to rehab for a professional daycare location and I am trying to link them with an appropriate CDFI, who could engage on this project with us. Unlike many projects I engage in this one is right in my town/neighborhood and I know the place and players well. I would love to see this happen and paring with a CDFI (or more than one) would one ideal. I know you/they are out there! Thanks [More]

RE: Pacific NW/ Alaska/ West Coast CDFI Experienced CPA Auditors/ Firms

Tue, 2018-10-30 14:17
From : Communities>>Open Forum
Hi Caprice, We use a local CPA firm, McDonald Jacobs.  They are familiar with CDFI's and non-profits,  If you're interested, you can reach out to Jessica Yoder  jessica@mcdonaldjacobs.com . ------------------------------ Kala Biittner Finance Director Portland Housing Center (503) 797-4014 ------------------------------

RE: Race to Lead: Confronting the Nonprofit Racial Leadership Gap

Tue, 2018-10-30 11:25
From : Communities>>Open Forum
Thanks for sharing this! It is an interesting report that challenges assumptions about aspiration and leadership attainment for people of color. Last week we hosted Sean and Frances from the Building Movement Project in Milwaukee, along with 9 other partners/sponsors. They presented on the research, and we had a really engaging discussion with them, and at tables about what it means, our expectations and norms in the sector, the implicit biases that can impact the work of people and organizations, [More]

RE: Request for Article on CDFI Financials

Tue, 2018-10-30 11:14
From : Communities>>Open Forum
Hi Michelle, In addition to OFN's Side by Side and Inclusiv's recent report, OFN published a report last year that analyzes 20 years of trends among CDFI banks and credit unions, including financial ratios.  The report is available here . ------------------------------ Lance Loethen Vice President, Research Opportunity Finance Network Philadelphia PA (215) 320-4343 ------------------------------

RE: Pacific NW/ Alaska/ West Coast CDFI Experienced CPA Auditors/ Firms

Tue, 2018-10-30 10:33
From : Communities>>Open Forum
​This year NeighborWorks Capital solicited proposals for audit services as a best practice every 5 years. We solicited 6 firms and only received response from 3. We are a national CDFI and raise capital from regional and national financial institutions. It is important to our investors to have a timely audit that also transparently describes the CDFI specific disclosures in our footnotes. It also critical that your organization is the right size compared to the firms client base so you have their [More]

RE: Request for Article on CDFI Financials

Mon, 2018-10-29 21:31
From : Communities>>Open Forum
Hi Michelle,  I'm assuming you are looking at this through a CDFI credit union lens.  In addition to OFN's Side by Side report, I recommend taking a look at the recently published report from /inclusive/ (formerly National Federation of Community Development Credit Unions).  The report includes financial ratios between CDFI credit unions and non-CDFI credit unions. The report is attached.   ------------------------------ Seth Julyan Senior Vice President, Membership Opportunity Finance Network Philadelphia [More]

Files Attached Document
RE: Request for Article on CDFI Financials

RE: Request for Article on CDFI Financials

Mon, 2018-10-29 13:10
From : Communities>>Open Forum
Not exactly what you are looking for, but the OFN Peer to Peer reports might help you frame up your own analysis: https://ofn.org/articles/compare-your-cdfi-performance-ofn-side-side ------------------------------ Jenny Rottmann Genesis Fund Brunswick ME (207) 844-2035 ------------------------------

RE: Pacific NW/ Alaska/ West Coast CDFI Experienced CPA Auditors/ Firms

Mon, 2018-10-29 11:46
From : Communities>>Open Forum
Caprice, Novogradac is good and well know in this space. Armanino is another good choice.  Armanino works with many of our CDFI customers that use our loan servicing software.  Contact info for Armanino is here:  Jason.Gilbert@amllp.com Consulting for ERP & MS Dynamics, Tax & Audit | Armanino ArmaninoLLP remove preview Consulting for ERP & MS Dynamics, Tax & Audit | Armanino Armanino is California's largest independent audit, tax, consulting & business management firm, providing [More]

RE: Origination Software for underwriting needs

Mon, 2018-10-29 09:24
From : Communities>>Open Forum
We use encompass and have for some years.  It is a very powerful program that we do not use to it's fullest extent.   But I am happy to let you know my thoughts.  Csemans@nhsbaltimore.com ------------------------------ Cathy Semans Director of Lending Neighborhood Housing Services of Baltimore Baltimore MD (802) 299-6129 ------------------------------

RE: Recommended CPA/Audit Firms with CDFI Experience

Mon, 2018-10-29 09:16
From : Communities>>Open Forum
We have been very happy with OConnor Davies  https://www.pkfod.com/ Our audit partner has been Barbara Van Bergen who works out of the White Plains, NY office, but I don't believe we are the only CDFI that the firm audits so there are likely other partners in the company who have familiarity with the industry.  Our team has gone out of its way to understand CDFI reporting including securing memos from OFN etc.  They are a company with branches all over the country, or at least the East coast I believe. [More]

RE: Lending secured by a residence

Fri, 2018-10-26 11:27
From : Communities>>Open Forum
Will this be a 2nd lien position? You can email me directly if you would like more information regarding documentation, although may vary by state. callinikov@cvky.org. I agree with the previous response regarding HMDA reporting, that should not apply. ------------------------------ Cathy Allinikov Quality Control Manager Community Ventures Corporation Lexington KY (859) 231-0054 ------------------------------

RE: Recommended CPA/Audit Firms with CDFI Experience

Fri, 2018-10-26 10:59
From : Communities>>Open Forum
I would suggest contacting Diana Letsinger, a CPA with Novogradac & Company.   Novogradac is a national professional services organization that consists of affiliates and divisions providing professional services that include certified public accounting, valuation and consulting with more than 25 offices nationwide. Diana's contact information is 562.256.2350 or  Diana.Letsinger@novoco.com . ------------------------------ Bob Ibanez Senior Public Policy Manager Novogradac & Company LLP Jacksonville [More]

RE: Lending secured by a residence

Fri, 2018-10-26 10:54
From : Communities>>Open Forum
Hi Bill, If the loan is 'owner occupied' (meaning that the borrower will be living in the property), that loan would fall under RESPA.  With your volume though, you don't have to worry about HMDA.  HMDA reporting is required if you are originating 25+ loans per month. ------------------------------ A.J. Poulin Applied Business Software, Inc. www.themortgageoffice.com 800.833.3343 ------------------------------

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