TY 2011 Form 990

Part X Balance Sheet
	1	Cashnon-interest-bearing ..........	0	1	0
2	Savings and temporary cash investments .......	0	2	0
3	Pledges and grants receivable, net .........	0	3	0
4	Accounts receivable, net .........	0	4	0
5	Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
	Schedule L ..........	0	5	0
6	Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
	Schedule L ..........	0	6	0
7	Notes and loans receivable, net .............	0	7	0
8	Inventories for sale or use ..............	0	8	0
9	Prepaid expenses and deferred charges ............	0	9	0
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a
b	Less: accumulated depreciation. .....	10b		0	10c
11	Investments—publicly traded securities ..........	0	11	0
12	Investments—other securities. See Part IV, line 11 ......	0	12	0
13	Investments—program-related. See Part IV, line 11 ..	0	13	0
14	Intangible assets .........	0	14	0
15	Other assets. See Part IV, line 11 ...........	15,465,861	15	6,022,881
16	Total assets. Add lines 1 through 15 (must equal line 34)...	15,465,861	16	6,022,881
	17	Accounts payable and accrued expenses .	0	17	0
18	Grants payable ..........	0	18	0
19	Deferred revenue ..........	618,352	19	489,590
20	Tax-exempt bond liabilities ..........	0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D..	0	21	0
22	Payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........	0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..	0	23	0
24	Unsecured notes and loans payable to unrelated third parties ....	0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.....	0	25	0
26	Total liabilities. Add lines 17 through 25.....	618,352	26	489,590
		Organizations that follow SFAS 117, check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets .....	14,847,509	27	5,533,291
28	Temporarily restricted net assets .....	0	28	0
29	Permanently restricted net assets .....	0	29	0
	Organizations that do not follow SFAS 117, check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds .....		30
31	Paid-in or capital surplus, or land, building or equipment fund .....		31
32	Retained earnings, endowment, accumulated income, or other funds		32
33	Total net assets or fund balances .....	14,847,509	33	5,533,291
34	Total liabilities and net assets/fund balances .....	15,465,861	34	6,022,881

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet

Attach to Form 990. SchDMd Bullet

See separate instructions.

OMB No. 1545-0047

2011

Open to Public Inspection

Name of the organization

New York Equity Fund Inc

Employer identification number

36-4041986

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .......
2	Aggregate contributions to (during year) ...
3	Aggregate grants from (during year) ...
4	Aggregate value at end of year .......

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................

Yes No

Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................

Yes No

In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.

If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:

(i)

Revenues included in Form 990, Part VIII, line 1 ........................ SchDMd Bullet

(ii)

Assets included in Form 990, Part X .............................. SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958), relating to these items:

Revenues included in Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990

Cat. No. 52283D

Schedule D (Form 990) 2011

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No

If "Yes," explain the arrangement in Part XIV and complete the following table:


c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Did the organization include an amount on Form 990, Part X, line 21? .....................

Yes No

If “Yes,” explain the arrangement in Part XIV.

Part V

Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.

		(a)Current Year	(b)Prior Year	(c)Two Years Back	(d)Three Years Back	(e)Four Years Back
1a	Beginning of year balance ....
b	Contributions ........
c	Net investment earnings, gains, and losses ...
d	Grants or scholarships .....
e	Other expenditures for facilities and programs ........
f	Administrative expenses ....
g	End of year balance ......

Provide the estimated percentage of the year end balance (line 1g) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

Temporarily restricted endowment SchDMd Bullet

The percentages in lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) unrelated organizations ........................

3a(i)

(ii) related organizations ........................

3a(ii)

If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIV the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value
1a	Land .................
b	Buildings ................
c	Leasehold improvements ............
d	Equipment ................
e	Other .................
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......

Schedule D (Form 990) 2011

Page 3

Part VII

InvestmentsOther Securities. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)		(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

InvestmentsProgram Related. See Form 990, Part X, line 13.

(a) Description of investment type		(b) Book value	(c) Method of valuation: Cost or end-of-year market value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets. See Form 990, Part X, line 15.

(a) Description				(b) Book value
(1) INTERCOMPANY RECEIVABLE				250,000
(2) Due From NEF Inc, net				5,457,836
(3) Due From Affiliates				315,045






Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........				6,022,881

Part X

Other Liabilities. See Form 990, Part X, line 25.

1.(a) Description of Liability		(b) Book value
Federal Income Taxes		0









Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		0
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).

Schedule D (Form 990) 2011

Page 4

Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1	Total revenue (Form 990, Part VIII, column (A), line 12) ....................	1
2	Total expenses (Form 990, Part IX, column (A), line 25) .....................	2
3	Excess or (deficit) for the year. Subtract line 2 from line 1 .............	3
4	Net unrealized gains (losses) on investments ..........................	4
5	Donated services and use of facilities .............................	5
6	Investment expenses ...................................	6
7	Prior period adjustments ..................................	7
8	Other (Describe in Part XIV.) .................................	8
9	Total adjustments (net). Add lines 4 through 8 .........................	9
10	Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 .........	10

Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1	Total revenue, gains, and other support per audited financial statements .......		1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains on investments ..........	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIV.) ............	2d
e	Add lines 2a through 2d .....................		2e
3	Subtract line 2e from line 1.....................		3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIV.) ...........	4b
c	Add lines 4a and 4b.......................		4c
5	Total Revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......		5

Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1	Total expenses and losses per audited financial statements .............		1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIV.) ............	2d
e	Add lines 2a through 2d......................		2e
3	Subtract line 2e from line 1.....................		3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIV.) ............	4b
c	Add lines 4a and 4b.......................		4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5

Part XIV

Supplemental Information

Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.

Identifier	Return Reference	Explanation
FIN 48	Schedule D, Part X	In June 2006, the FASB issued guidance on accounting for uncertain tax positions. The guidance clarifies the accounting for uncertainty in income taxes by creating a framework for how companies should recognize, measure, present and disclosure in their financial statements uncertain tax positions that they have taken or expect to take in a tax return. The guidance is effective for fiscal years begins after December 15, 2008 and was adopted by the Corporation beginning January 1, 2009. The Corporation's policy is to evaluate potential uncertain tax positions and it believes it has no unrecognized tax benefits as of December 31, 2011 and 2010.

Schedule D (Form 990) 2011

Additional Data

Software ID:
Software Version:

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet

Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet

Attach to Form 990. SchJMediumBullet

See separate instructions.

OMB No. 1545-0047

2011

Open to Public Inspection

Name of the organization

New York Equity Fund Inc

Employer identification number

36-4041986

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all the expenses described above? If "No," complete Part III to explain....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....

Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? ...............

Yes

Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........

Participate in, or receive payment from, an equity-based compensation arrangement? ........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.

For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 5a or 5b, describe in Part III.

For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 6a or 6b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................

If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990

Cat. No. 50053T

Schedule J (Form 990) 2011

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and column (E) for that individual.

(A) Name		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation reported as deferred in prior Form 990
(A) Name		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation reported as deferred in prior Form 990
(1) KEVIN BOES	(i) (ii)	0 196,532	0 146,000	0 3,270	0 23,000	0 25,044	0 393,846	0 0
(2) ALEX DENJA	(i) (ii)	0 167,852	0 35,000	0 270	0 19,550	0 23,724	0 246,396	0 0
(3) THOMAS FLANAGAN	(i) (ii)	0 140,273	0 25,000	0 1,290	0 16,257	0 7,418	0 190,238	0 0
(4) JOSEPH HAGAN	(i) (ii)	0 323,932	0 350,000	0 6,290	0 28,175	0 22,644	0 731,041	0 0
(5) PETER HARRISON	(i) (ii)	0 190,505	0 100,000	0 690	0 22,348	0 25,404	0 338,947	0 0
(6) LAWRENCE HOWARD SEREDA	(i) (ii)	0 196,035	0 90,000	0 1,290	0 17,442	0 23,415	0 328,182	0 0
(7) MARK SIRANOVIC	(i) (ii)	0 189,018	0 125,000	0 10,690	0 22,348	0 26,892	0 373,948	0 0
(8) KAREN PRZYPYSZNY	(i) (ii)	0 165,085	0 120,000	0 5,690	0 19,232	0 23,724	0 333,731	0 0
(9) GREGORY SCHULER	(i) (ii)	0 193,265	0 125,000	0 6,290	0 22,348	0 22,644	0 369,547	0 0
(10) PATRICK MAHER	(i) (ii)	0 120,742	0 0	0 237	0 12,994	0 9,496	0 143,469	0 0
(11) DENISE NOTICE-SCOTT	(i) (ii)	0 167,844	0 0	0 1,290	0 17,826	0 9,975	0 196,935	0 0
(12) RICHARD MANSON	(i) (ii)	142,632	0 0	0 664	0 15,251	0 24,011	0 182,558	0 0
(13) DARRELL HUBBARD	(i) (ii)	0 107,650	0 0	0 0	0 19,639	0 0	0 127,289	0 0

Schedule J (Form 990) 2011

Page 3

Part III

Supplemental Information

Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.

Identifier	Return Reference	Explanation
SCHEDULE J, PART 1, LINE 4A	SEVERANCE PAYMENTS	DARRELL HUBBARD WAS PAID SEVERANCE OF $107,650 IN 2011.

Schedule J (Form 990) 2011

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE N
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Liquidation, Termination, Dissolution or Significant Disposition of Assets

Complete if the organization answered "Yes" to Form 990, Part IV, lines 31 or 32 or Form 990-EZ, line 36.
bullet

Attach certified copies of any articles of dissolution, resolutions or plans.
bullet

Attach to Form 990 or 990-EZ.

OMB No. 1545-0047

2011

Open to Public
Inspection

Name of the organization
New York Equity Fund Inc

Employer identification number
36-4041986

Part I

Liquidation, Termination or Dissolution. Complete if the organization answered "Yes" to Form 990, Part IV, line 31, or Form 990-EZ, line
36. Use Part III if additional space is needed. Click to see attachment

1(a)Description of asset(s) distributed or transaction expenses paid	(b)Date of distribution	(c)Fair market value of asset(s) distributed or amount of transaction expenses	(d)Method of determining FMV for asset(s) distributed or transaction expenses	(e)EIN of recipient	(f)Name and address of recipient	(g)IRC section of recipient(s) (if tax-exempt) or type of entity

Yes

Did or will any officer, director, trustee, or key employee of the organization:

Become a director or trustee of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .

Become an employee of, or independent contractor for, a successor or transferee organization? . . . . . . . . . . . . . . . .

Become a direct or indirect owner of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . .

Receive, or become entitled to, compensation or other similar payments as a result of the organization's liquidation, termination, or dissolution? . . . . .

If the organization answered "Yes" to any of the questions in this line, provide the name of the person involved and explain in Part III. bullet

For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.

Cat. No. 50087Z

Schedule N (Form 990 or 990-EZ) 2011

Page 2

Part I

Liquidation, Termination or Dissolution (continued)

Note. If the organization distributed all of its assets during the tax year, then Form 990, Part X, column (B), line 16 (Total assets), and line 26 (Total liabilities), should equal -0-.

Yes

Did the organization distribute its assets in accordance with its governing instrument(s)? If “No,” describe in Part III . . . . . . . . . . .

Is the organization required to notify the attorney general or other appropriate state official of its intent to dissolve, liquidate, or terminate? . . . . . .

If “Yes,” did the organization provide such notice? . . . . . . . . . . . . . . . . . . . . . . . . . .

Did the organization discharge or pay all of its liabilities in accordance with state laws? . . . . . . . . . . . . . . . . .

Did the organization have any tax-exempt bonds outstanding during the year? . . . . . . . . . . . . . . . . . . . .

Did the organization discharge or defease all of its tax-exempt bond liabilities during the tax year in accordance with the Internal Revenue Code and state laws? .

If ‘Yes’ to line 6b, describe in Part III how the organization defeased or otherwise settled these liabilities. If “No,” explain in Part III.

Part II

Sale, Exchange, Disposition or Other Transfer of More Than 25% of the Organization's Assets. Complete if the organization answered "Yes" to Form 990, Part IV, line 32, or Form 990-EZ, line 36. Use Part III if additional space is needed.

1(a)Description of asset(s) distributed or transaction expenses paid	(b)Date of distribution	(c)Fair market value of asset(s) distributed or amount of transaction expenses	(d)Method of determining FMV for asset(s) distributed or transaction expenses	(e)EIN of recipient	(f)Name and address of recipient	(g)IRC section of recipient(s) (if tax-exempt) or type of entity
CAPITAL CONTRIBUTIONS TO AFFILIATE	12-31-2011	10,000,000	CASH	36-3490231	NATIONAL EQUITY FUND INC 120 S RIVERSIDE PLAZA CHICAGO,IL60606	501(C)(4)

Yes

Did or will any officer, director, trustee, or key employee of the organization:

Become a director or trustee of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .

Become an employee of, or independent contractor for, a successor or transferee organization? . . . . . . . . . . . . . . . .

Become a direct or indirect owner of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .

Receive, or become entitled to, compensation or other similar payments as a result of the organization’s significant disposition of assets? . . . . . . .

If the organization answered "Yes" to any of the questions in this line, provide the name of the person involved and explain in Part III.

Schedule N(Form 990 or 990-EZ) 2011

Schedule N (Form 990 or 990-EZ) 2011

Page 3

Part III

Supplemental Information. Complete to provide the information required by Parts I and II,
and any additional information.

Identifier	Return Reference	Explanation

Schedule N (Form 990 or 990-EZ) 2011

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.

OMB No. 1545-0047

2011

Open to Public
Inspection

Name of the organization

New York Equity Fund Inc

Employer identification number

36-4041986

Identifier	Return Reference	Explanation
PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE	SECTION A. LINES 6 & 7A	National Equity Fund, Inc. is the parent and sole voting member of NYEF, Inc. National Equity Fund, Inc. is a section 501(c)(4) tax-exempt organization whose mission is to facilitate low-income housing development and community development. National Equity Fund, Inc. approves and appoints all board members to NYEF, Inc.'s board.
PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE	SECTION B. LINE 11	The Form 990 for New York Equity Fund, Inc. is prepared by an independent accounting firm based on information provided the organization. The draft return is then reviewed by the finance and legal departments, and any appropriate changes are made. The final draft of the return is then sent for review and approval to the audit committee of the board of directors of National Equity Fund, Inc., the parent organization of New York Equity Fund, Inc. The directors of New York Equity Fund, Inc., who all also serve as directors of National Equity Fund, Inc., have delegated responsibility to review the Form 990 to the audit committee of the parent organization. A copy of the final Form 990 is made available to the full board of directors of New York Equity Fund, Inc. prior to filing with the Internal Revenue Service.
PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE	SECTION B. LINE 12	NYEF, INC. has a conflict of interest policy covering its board members and officers. All Directors and Officers are required to certify their compliance with the Company's Conflict of Interest Policy, and disclose any potential conflicts annually. Any changes in status during the year should immediately be reported to the individual's supervisor or the Legal Department. The general counsel is responsible for reviewing the certifications and any disclosures. If a potential conflict of interest is reported, it is the general counsel's responsibility to determine whether or not a conflict does, in fact, exist and to review the situation with the CEO, the Chairman of the Board, and the Chairman of the Audit Committee to determine how the issue should be resolved. A conflicted officer or Board member would be excluded from participating in deliberations and decisions concerning the matter.
PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE	SECTION B. LINE 15	New York Equity fund, inc. does not have any employees. Its operations are carried out by employees of its parent organization, national equity fund, inc., a section 501(c)(4) tax-exempt organization. New York Equity Fund, inc. does not reimburse national equity fund for the compensation related to these employees. Compensation for senior management is determined by the personnel committee of National Equity Fund, Inc.'s board of directors. No individuals with a conflict of interest may be involved in the compensation determination process. National Equity Fund, Inc. periodically engages independent compensation consultants to provide comparability data for similarly qualified persons in functionally comparable positions at similarly situated organizations. The minutes of the personnel committee document the committee's deliberations and decisions regarding compensation. Due to the clarification of the instructions for line 15 in 2010, the organization must answer "no" since compensation is not paid directly from the organization.
PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE	SECTION C. LINE 19	NYEF, Inc.'s consolidated financial statements are available on the website of its parent organization, National Equity Fund, inc. it does not currently make its governing documents or conflict of interest policy available to the public.
PART XI, LINE 5	Other Changes in Net Assets/Fund balance	CAPITAL CONTRIBUTIONS TO AFFILIATE $ (10,000,000)
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:JOSEPH HAGAN TITLE:PRESIDENT & CEO & DIRECTOR HOURS:39
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:ANDREW DITTON TITLE:DIRECTOR HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:ELIZABETH PUGH TITLE:DIRECTOR HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:KEVIN BOES TITLE:SVP HOURS:18
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:ALEX DENJA TITLE:SVP & CFO HOURS:38
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:THOMAS FLANAGAN TITLE:SECRETARY HOURS:38
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:PETER HARRISON TITLE:SVP HOURS:38
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:LAWRENCE (HOWARD) SEREDA TITLE:SVP HOURS:38
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:MARK SIRANOVIC TITLE:SVP HOURS:38
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:KAREN PRZYPYSZNY TITLE:SVP HOURS:38
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:GREGORY SCHULER TITLE:SVP & ASSISTANT SECRETARY HOURS:38
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:PATRICK MAHER TITLE:FORMER ASST SECRETARY HOURS:39
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:RICHARD MANSON TITLE:FORMER VICE PRESIDENT HOURS:35
HOURS DEVOTED FOR RELATED ORGANIZATION	FORM 990 PART VII	NAME:DENISE NOTICE-SCOTT TITLE:FORMER EXECUTIVE DIRECTOR HOURS:39

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2011

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBullet

Attach to Form 990. MediumBullet

See separate instructions.

OMB No. 1545-0047

2011

Open to Public Inspection

Name of the organization

New York Equity Fund Inc

Employer identification number

36-4041986

Part I

Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)

(a) Name, address, and EIN of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity

Part II

Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled organization
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1) Community Housing Preservation Corp 120 S RIVERSIDE PLAZA 15TH FLOOR Chicago,IL60606 27-0280127	SUPPORT	OR	501(c)(3)	11a, Type I	Oregon Corp		No
(2) LOCAL INITIATIVES MANAGED ASSET CORPORAT 501 Seventh Avenue NEW YORK,NY10018 11-2848981	LOW-INC HOUSI	NY	501(c)(3)	9	LISC		No
(3) LOCAL INITIATIVES SUPPORT CORPORATION 501 Seventh Avenue NEW YORK,NY10018 13-3030229	COMMUNITY DEV	NY	501(c)(3)	7	NA		No
(4) NATIONAL EQUITY FUND INC 120 S RIVERSIDE PLAZA 15TH FLOOR CHICAGO,IL60606 36-3490231	LOW-INC HOUSI	IL	501(c)(4)	N/A	LISC		No
(5) NEF COMMUNITY INVESTMENTS INC 120 S RIVERSIDE PLAZA 15TH FLOOR CHICAGAO,IL60606 36-4229337	LOW-INC HOUSI	IL	501(c)(4)	N/A	NEF Inc		No
(6) Oregon Corp for Affordable Housing 120 S RIVERSIDE PLAZA 15TH FLOOR Chicago,IL60606 93-1113844	LOW-INC HOUSI	OR	501(c)(3)	9	NEF Inc		No
(7) THE RETAIL INITIATIVE INC 501 Seventh Avenue NEW YORK,NY10018 13-3690780	LOW-INC HOUSI	NY	501(c)(3)	9	LISC		No

For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) 2011

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Predominant income(related, unrelated, excluded from tax under sections 512-514)	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code VUBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity		(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code VUBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No
(1) CALIFORNIA EQUITY FUND 1990 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3738507	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(2) CALIFORNIA EQUITY FUND 1991 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3794783	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(3) CALIFORNIA EQUITY FUND 1992 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3843751	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(4) CALIFORNIA EQUITY FUND 1993 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3885995	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(5) CALIFORNIA EQUITY FUND 1994 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3961576	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(6) CALIFORNIA EQUITY FUND 1994 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3997618	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(7) CALIFORNIA EQUITY FUND 1995 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4025432	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(8) CALIFORNIA EQUITY FUND 1996 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4089379	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(9) CALIFORNIA EQUITY FUND 1997 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4159240	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(10) CALIFORNIA EQUITY FUND 1998 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4234307	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(11) CALIFORNIA EQUITY FUND 1999 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4296157	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(12) CALIFORNIA EQUITY FUND 2000 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4380675	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(13) CALIFORNIA EQUITY FUND 2002 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 94-3427611	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(14) CALIFORNIA EQUITY FUND 2003 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0233867	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(15) CALIFORNIA EQUITY FUND 2004 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-1384513	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(16) CHICAGO EQUITY FUND 1995 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4039330	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(17) CHICAGO EQUITY FUND 1996 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4098780	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(18) CHICAGO EQUITY FUND 1997 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4186158	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(19) CHICAGO EQUITY FUND 1998 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4282144	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(20) CHICAGO EQUITY FUND 2000 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4325575	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(21) CHICAGO EQUITY FUND 2001 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4416840	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(22) CHICAGO EQUITY FUND 2002 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 30-0066665	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(23) CHICAGO EQUITY FUND 2003 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 30-0149138	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(24) CHICAGO EQUITY FUND 2004 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 32-0106888	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(25) PRESERVATION LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-5160740	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(26) NATIONAL EQUITY FUND 1988 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3602378	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(27) NATIONAL EQUITY FUND 1990 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3725144	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(28) NATIONAL EQUITY FUND 1991 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3793575	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(29) NATIONAL EQUITY FUND 1992 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3843752	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(30) NATIONAL EQUITY FUND 1993 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3878944	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(31) NATIONAL EQUITY FUND 1994 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3958151	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(32) NATIONAL EQUITY FUND 1995 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4025434	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(33) NATIONAL EQUITY FUND 1995 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4025433	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(34) NATIONAL EQUITY FUND 1996 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4094851	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(35) NATIONAL EQUITY FUND 1996 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4097771	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(36) NATIONAL EQUITY FUND 1997 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4188807	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(37) NATIONAL EQUITY FUND 1997 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4192679	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(38) NATIONAL EQUITY FUND 1999 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4262821	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(39) NATIONAL EQUITY FUND 1999 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4284872	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(40) NATIONAL EQUITY FUND 2000 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4373745	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(41) NATIONAL EQUITY FUND 2001 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4437162	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(42) NATIONAL EQUITY FUND 2002 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 75-3045298	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(43) NATIONAL EQUITY FUND 2003 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0083344	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(44) NATIONAL EQUITY FUND 2004 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-1909507	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(45) NATIONAL EQUITY FUND 2005 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-3052057	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(46) NATIONAL EQUITY FUND 2006 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-4587136	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(47) NATIONAL EQUITY FUND 2006 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-5575038	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(48) NATIONAL EQUITY FUND 2007 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-8189381	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(49) NATIONAL EQUITY FUND 2007 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-8864796	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(50) NATIONAL EQUITY FUND 2008 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-1775928	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(51) NATIONAL EQUITY FUND 2008 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-2740220	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(52) NATIONAL EQUITY FUND 2009 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-4818735	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(53) NATIONAL EQUITY FUND 2011 INV FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-2642927	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(54) NATIONAL EQUITY FUND 2011 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-3062097	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(55) GS-NYEF 2009 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-1086070	LOW INCOME HOUS	DE	NA	RELATED	-3	342,097		No	0	Yes		0 %
(56) NEW YORK EQUITY FUND 1988 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3602373	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(57) NEW YORK EQUITY FUND 1989 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3680405	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(58) NEW YORK EQUITY FUND 1990 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3744662	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(59) NEW YORK EQUITY FUND 1992 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3831681	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(60) NEW YORK EQUITY FUND 1993 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3924008	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(61) NEW YORK EQUITY FUND 1994 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3970081	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(62) NEW YORK EQUITY FUND 1995 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4033218	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(63) NEW YORK EQUITY FUND 1995 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4047569	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(64) NEW YORK EQUITY FUND 2000 LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4187874	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(65) NEW YORK EQUITY FUND 2000 SERIES II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4190655	LOW INCOME HOUS	NY	NA	RELATED	-598	99,875		No	0	Yes		0 %
(66) NEW YORK EQUITY FUND 2001 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4402575	LOW INCOME HOUS	DE	NA	RELATED	-7	2,456,497		No	0	Yes		0 %
(67) NEW YORK EQUITY FUND 2002 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 72-1536444	LOW INCOME HOUS	DE	NA	RELATED	-4	2,440,299		No	0	Yes		0 %
(68) NEW YORK EQUITY FUND 2003 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0335458	LOW INCOME HOUS	DE	NA	RELATED	-5	2,506,595		No	0	Yes		0 %
(69) NEW YORK EQUITY FUND 2004 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 80-0132471	LOW INCOME HOUS	DE	NA	RELATED	-5	2,803,300		No	0	Yes		0 %
(70) NEW YORK EQUITY FUND 2005 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-3760899	LOW INCOME HOUS	DE	NA	RELATED	-5	2,741,838		No	0	Yes		0 %
(71) NEW YORK EQUITY FUND 2006 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-5705331	LOW INCOME HOUS	DE	NA	RELATED	-4	2,248,564		No	0	Yes		0 %
(72) NEW YORK EQUITY FUND 2008 LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-2775151	LOW INCOME HOUS	DE	NA	RELATED	-2	340,505		No	0	Yes		0 %
(73) HOMESTEAD EQUITY FND III PROPRIET FND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 76-0720406	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(74) HOMESTEAD EQUITY FUND A - OREGON LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1309851	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(75) HOMESTEAD EQUITY FUND A - WASHINGTON LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1309850	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(76) HOMESTEAD EQUITY FUND B - OREGON LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 74-3068676	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(77) HOMESTEAD EQUITY FUND II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1305114	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(78) HOMESTEAD EQUITY FUND III LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-0018664	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(79) HOMESTEAD EQUITY FUND IV LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 72-1552615	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(80) HOMESTEAD EQUITY FUND IX LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-2021135	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(81) HOMESTEAD EQUITY FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1278206	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(82) HOMESTEAD EQUITY FUND V LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0912383	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(83) HOMESTEAD EQUITY FUND VI LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-3624501	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(84) HOMESTEAD EQUITY FUND VII LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-0796373	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(85) HOMESTEAD EQUITY FUND VIII LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-3897389	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(86) HOMESTEAD NORTHERN CALIFORNIA FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-4596836	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(87) HOMESTEAD PRESERVATION LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-3520887	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(88) HOMESTEAD WESTERN COMMUNITIES FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0912505	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(89) OREGON EQUITY FUND II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1169181	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(90) OREGON EQUITY FUND III LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1231023	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(91) OREGON EQUITY FUND IV LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1258939	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(92) BOF AMERICA CHIF LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4401581	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(93) BANC OF AMERICA CHIF II LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0296106	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(94) BANC OF AMERICA CHIF III LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-3697681	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(95) BANK OF AMERICA CHIF IV LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-1851404	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(96) BANK OF AMERICA CHIF V LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-3751207	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(97) BANK OF AMERICA CHIF VI LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-3402632	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(98) CITIGROUP CCDE INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4425650	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(99) COVINGTON INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-1490747	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(100) CRESCENT COMMUNITY INVESTMENT FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-0859985	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(101) FIFTH THIRD INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 95-3427804	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(102) FIRST CHICAGO LEASING IF LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-1005813	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(103) FNBC LEASING INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-5046285	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(104) FOUR EIGHTY-ONE HOUSING INVESTMENT FUND 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-0711050	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(105) JP MORGAN CHASE LOW-INCOME HF LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4406946	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(106) KEY CDC INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 95-4893445	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(107) KEY USA INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 95-4893448	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(108) METLIFE INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4426157	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(109) MLI INVESTMENT FUND II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-2554858	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(110) MS SHARED INVESTMENT FUND I LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-1490797	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(111) MS SINGLE INVESTOR FUND I LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-1499871	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(112) NAHIF XVII - NEF LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 90-6061443	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(113) NAHIF XX - NEF LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-1651241	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(114) NATIONAL AFFORDABLE HOUSIN INV XVIII-NEF 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0973916	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(115) NATIONAL AFFORDABLE HOUSING INV I LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-1177748	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(116) NATIONAL AFFORDABLE HOUSING INV XIV-NEF 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0690738	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(117) NATIONAL CITY INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 95-4893437	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(118) NEF AFFORD HOUS INVST FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-0719219	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(119) NEF AFFORD HOUS INVST FUND LP II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-2395998	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(120) NEF AFFORDABLE HOUSING INV FUND III LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-1682803	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(121) NEF COMMUNITY INVESTMENT FUND II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-1309458	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(122) NEF COMMUNITY INVESTMENT FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4406954	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(123) NEF FIRST NIAGARA INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-2756618	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(124) NEF HEARTLAND FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0083309	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(125) NEF INVESTMENT PARTNERS FUND I LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-0186285	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(126) NEF INVESTMENT PARTNERS FUND II LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-2772231	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(127) NEF INVESTMENT PARTNERS FUND III LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-3343649	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(128) NEF NATIONAL COMMUNITY INV FUND II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-1167950	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(129) WFCIH INVESTMENT FUND II LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-1167950	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(130) NEF NATIONAL COMMUNITY INVESTMENT FUND L 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-1312355	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(131) NEF NEIGHBORHOOD REVITALIATION FUND I 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-0186322	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(132) NEF NEIGHBORHOOD REVITALIZ FUND II LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-4033192	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(133) NEF NEW YORK SPECIAL TAX CREDIT FUND 200 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-0365747	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(134) NEF ORCHARD WESTCHASE MIDDLE TIER FD LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-3343435	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(135) NEF ENCANTO POINTE MIDDLE TIER FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-3343607	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(136) NEWARK COMMUNITY INVESTMENT FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4424438	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(137) NORTHERN CALIFORNIA INVESTMENT FUND I LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-3077326	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(138) ONE ECONOMY FUND I LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-2660021	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(139) STANDARD FUND I LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 45-2066675	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(140) STATE FARM GOOD NEIGHBOR FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-1973833	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(141) TD BANKNORTH HOUSING INVESTMENT FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-4417284	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(142) THE LA QUINTA EQUITY FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 26-2400960	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(143) US AFFORDABLE HOUSING CIF II LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-4417160	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(144) US AFFORDABLE HOUSING CIF LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 94-3414697	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(145) WASHINGTON MUTUAL CIF LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4419044	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(146) WFCIH INVESTMENT FUND I LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-2007684	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(147) WINTRUST COMMUNITY INVESTMENT FUND LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-2440641	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(148) CARMEN ALLENDE HOUSES 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 13-3796506	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(149) CASA PUEBLA INVESTORS LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4473104	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(150) CDC TAX CREDIT I 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4140910	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(151) CDC TAX CREDIT III 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4235882	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(152) CL DELLUMS (OAKLAND) 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 94-3194785	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(153) DEBORAH'S PLACE III INVESTORS LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4261308	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(154) GLADYS MCCOY APARTMENTS LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 93-1211950	LOW INCOME HOUS	OR	NA	RELATED	0	0		No	0		No	0 %
(155) HARRY DERIENZO HOUSES 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 13-3665255	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(156) MAURY SENIOR RETIREMENT 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 54-1984348	LOW INCOME HOUS	VA	NA	RELATED	0	0		No	0		No	0 %
(157) MCCLELLAN PLACE APARTMENTS 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 71-0781493	LOW INCOME HOUS	AZ	NA	RELATED	0	0		No	0		No	0 %
(158) MERIDIAN STRATFORD 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 38-3628164	LOW INCOME HOUS	MI	NA	RELATED	0	0		No	0		No	0 %
(159) NEW YORK ACQUISITION FUND LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 22-3928216	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(160) PHILLIP C DEAN APARTMENTS 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 38-3684910	LOW INCOME HOUS	MI	NA	RELATED	0	0		No	0		No	0 %
(161) RAUL MORALES TERRACE 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 13-3796501	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(162) REBECCA WALKER COMPLEX 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-3954083	LOW INCOME HOUS	ID	NA	RELATED	0	0		No	0		No	0 %
(163) SOUTH LOOP INVESTORS LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 36-4243402	LOW INCOME HOUS	IL	NA	RELATED	0	0		No	0		No	0 %
(164) TOTCO HOMES 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 34-1823570	LOW INCOME HOUS	OH	NA	RELATED	0	0		No	0		No	0 %
(165) CLUB NOVA APARTMENTS LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 16-1636753	LOW INCOME HOUS	NC	NA	RELATED	0	0		No	0		No	0 %
(166) HORIZON VILLAGE ONE LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0014388	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(167) HARBOR VIEW PHASE I 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 56-2281877	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(168) HILLCREST COMMONS LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-0433943	LOW INCOME HOUS	DE	NA	RELATED	0	0		No	0		No	0 %
(169) 335 GREENACRE ROAD LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-2376845	LOW INCOME HOUS	SC	NA	RELATED	0	0		No	0		No	0 %
(170) PROGRESSIVE FREMONT LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 58-2529371	LOW INCOME HOUS	SC	NA	RELATED	0	0		No	0		No	0 %
(171) COLLEGE PARK HOUSING ASSOCIATES A CA LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 87-0756697	LOW INCOME HOUS	CA	NA	RELATED	0	0		No	0		No	0 %
(172) ETH NEP LP (FORT WASHINGTON) 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 27-3054643	LOW INCOME HOUS	NY	NA	RELATED	0	0		No	0		No	0 %
(173) MOUNTAIN VIEW TERRACE APTS LLC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 86-0932708	LOW INCOME HOUS	AZ	NA	RELATED	0	0		No	0		No	0 %
(174) UNIVERSITY DALE APARTMENTS LP 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606 20-1389113	LOW INCOME HOUS	MN	NA	RELATED	0	0		No	0		No	0 %
(175) 60 VALLEY INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-4169561	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(176) ACHIEVEMENT ACADEMY INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5854903	COMMUNITY DEV	MO	NA	RELATED	0	0		No	0		No	0 %
(177) ASBURY INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-2008414	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(178) BLOOM LAKE NEW MARKETS INVESTMENT FD LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-1276053	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(179) CFCL INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-8396418	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(180) CHASE NMTC CTK LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-4815316	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(181) CHASE NMTC CUCS LLC (CUCS IF) 501 SEVENTH AVENUE NEW YORK,NY10018 20-8203584	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(182) CHASE NMTC WINTERS BUILDING LLC 501 SEVENTH AVENUE NEW YORK,NY10018 27-0226436	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(183) CORAL NEW HAVEN ASSOCIATES II LLC 501 SEVENTH AVENUE NEW YORK,NY10018 06-1526805	COMMUNITY DEV	CT	NA	RELATED	0	0		No	0		No	0 %
(184) EAST HARLEM ABYSSINIAN TRIANGLE LLC 501 SEVENTH AVENUE NEW YORK,NY10018 13-3874719	COMMUNITY DEV	NY	NA	RELATED	0	0		No	0		No	0 %
(185) HOPE STREET INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-8212251	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(186) LISCBOA NM 40 INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-2667429	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(187) MGM INV FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3464214	COMMUNITY DEV	MO	NA	RELATED	0	0		No	0		No	0 %
(188) NEW MARKETS INVESTMENT 37 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1283428	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(189) NEW MARKETS INVESTMENT 38 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1283547	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(190) NEW MARKETS INVESTMENT 39 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1283590	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(191) NEW MARKETS INVESTMENT 40 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1283633	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(192) NEW MARKETS INVESTMENT 41 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1283743	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(193) NEW MARKETS INVESTMENT 43 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1284340	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(194) NEW MARKETS INVESTMENT 44 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1284745	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(195) NEW MARKETS INVESTMENT 47 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-1284910	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(196) NEW MARKETS INVESTMENT 53 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-3667103	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(197) NEW MARKETS INVESTMENT 54 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-3667492	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(198) NEW MARKETS INVESTMENT 55 LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-3667554	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(199) NEW MARKETS INV I LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-0192507	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(200) NEW MARKETS INV II LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-0192519	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(201) NEW MARKETS INV III LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-0192549	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(202) NEW MARKETS INV IV LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-0192561	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(203) NEW MARKETS INV IX LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-1582167	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(204) NEW MARKETS INV V LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-0192571	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(205) NEW MARKETS INV VI LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-1582060	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(206) NEW MARKETS INVVII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-1582099	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(207) NEW MARKETS INVVIII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-1582135	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(208) NEW MARKETS INV X LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3164710	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(209) NEW MARKETS INVXI LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158031	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(210) NEW MARKETS INV XII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158120	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(211) NEW MARKETS INV XIII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158182	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(212) NEW MARKETS INVESTMENT XIV LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158233	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(213) NEW MARKETS INVESTMENT XIX LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158430	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(214) NEW MARKETS INVESTMENT XV LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158279	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(215) NEW MARKETS INVESTMENT XVI LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158319	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(216) NEW MARKETS INVESTMENT XVII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158359	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(217) NEW MARKETS INVESTMENT XVIII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3158395	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(218) NEW MARKETS INVESTMENT XX LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200245	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(219) NEW MARKETS INVESTMENT XXI LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200280	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(220) NEW MARKETS INVESTMENT XXII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200310	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(221) NEW MARKETS INVESTMENT XXIII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200340	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(222) NEW MARKETS INVESTMENT XXIV LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200364	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(223) NEW MARKETS INVESTMENT XXIX LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200500	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(224) NEW MARKETS INVESTMENT XXV LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200396	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(225) NEW MARKETS INVESTMENT XXVI LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200422	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(226) NEW MARKETS INVESTMENT XXVI LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-8307117	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(227) NEW MARKETS INVESTMENT XXVII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200447	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(228) NEW MARKETS INVESTMENT XXVIII LLC 501 SEVENTH AVENUE NEW YORK,NY10018 90-0370007	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(229) NEW MARKETS INVESTMENT XXX LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200545	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(230) NEW MARKETS INVESTMENT XXXI LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200571	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(231) NEW MARKETS INVESTMENT XXXIV LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-5200657	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(232) NM 44 PYRAMID INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 26-3487837	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(233) NMI XVI INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 04-3844149	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(234) NMI XXX INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-8401857	COMMUNITY DEV	MO	NA	RELATED	0	0		No	0		No	0 %
(235) NORTHWEST HARVEST INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-8059574	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(236) PIKE'S PLACE INV FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 61-1497318	COMMUNITY DEV	MO	NA	RELATED	0	0		No	0		No	0 %
(237) SPOKANE Y INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-8401940	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(238) TANGERINE PLAZA INVESTMENT FUND LLC 501 SEVENTH AVENUE NEW YORK,NY10018 20-3937882	COMMUNITY DEV	DE	NA	RELATED	0	0		No	0		No	0 %
(239) VICTORY SQUARE LIMITED PARTNERSHIP 501 SEVENTH AVENUE NEW YORK,NY10018 51-0389589	COMMUNITY DEV	PA	NA	RELATED	0	0		No	0		No	0 %
(240) WEST ALLIS INVESTMENT FUND 501 SEVENTH AVENUE NEW YORK,NY10018 20-1952870	COMMUNITY DEV	MO	NA	RELATED	0	0		No	0		No	0 %
(241) THE RETAIL INITIATIVE 1994 LP 501 SEVENTH AVE 7TH FL NEW YORK,NY10018	LOW INCOME HOUS	NY	TRI INC	RELATED				No			No

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)
(1) NEF Assignment Corporation 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 36-4326848	Low-Income Ho	IL	NA	C CORP
(2) NEF Support Corporation 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 36-4326845	Low-Income Ho	IL	NA	C CORP
(3) NEF Mortgage Corporation 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 83-0337773	Low-Income Ho	IL	NA	C CORP
(4) NEF Community Capital Inc 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 36-4222908	Low-Income Ho	IL	NA	C CORP
(5) Community Development Advocates Inc 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 36-4009754	Low-Income Ho	IL	NA	C CORP
(6) Community Development Advocates East Inc 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 26-0807410	Low-Income Ho	IL	NA	C CORP
(7) Community Development Advocates South 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 26-0807437	Low-Income Ho	IL	NA	C CORP
(8) Community Development Advocates Midwest 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 26-0807338	Low-Income Ho	IL	NA	C CORP
(9) Community Development Advocates West Inc 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 26-0807380	Low-Income Ho	IL	NA	C CORP
(10) Community Development Advocates Central 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 26-1793642	Low-Income Ho	IL	NA	C CORP
(11) CDA TOTCO Inc 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 27-0338809	Low-Income Ho	IL	NA	C Corp
(12) Community Development Advocates TCG Inc 120 S Riverside Plaza 15th Floor CHICAGO,IL60606 27-2082864	Low-Income Ho	IL	NA	C Corp
(13) COMMUNITY DEVELOPMENT ADVOCATES LAUREL 120 S Riverside Plaza 15th Floor Chicago,IL60606 45-2769116	Low Income Hous	OH	NA	C Corp
(14) COMMUNITY DEVELOPMENT ADVOCATES DALE 120 S Riverside Plaza 15th Floor Chicago,IL60606 45-2281616	Low Income Hous	MN	NA	C Corp

Schedule R (Form 990) 2011

Page 3

Part V

Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)

Note. Complete line 1 if any entity is listed in Parts II, III or IV.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .

b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

f Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

g Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

h Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

i Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .

j Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .

k Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .

l Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .

Yes

m Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .

Yes

n Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

o Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

p Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

q Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

r Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of other organization	(b) Transaction type(a-r)	(c) Amount involved	(d) Method of determining amount involved
(1)
(2)
(3)
(4)
(5)
(6)

Schedule R (Form 990) 2011

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code VUBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code VUBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No

Schedule R (Form 990) 2011

Page 5

Part VII

Supplemental Information

Complete this part to provide additional information for responses to questions on Schedule R (see instructions).

Identifier	Return Reference	Explanation

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: NEW YORK EQUITY FUND, INC. ASSISTS NEF, INC. IN THE DEVELOPMENT AND PRESERVATION OF HIGH-QUALITY LOW-INCOME RENTAL HOUSING BY ESTABLISHING AND MANAGING INVESTMENTS IN QUALIFYING HOUSING PROJECTS.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a).....	3	3
4	Number of independent voting members of the governing body (Part VI, line 1b) ....	4	2
5	Total number of individuals employed in calendar year 2011 (Part V, line 2a) ...	5	0
6	Total number of volunteers (estimate if necessary) ....	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ..	7a	0
b	Net unrelated business taxable income from Form 990-T, line 34 ..	7b

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	3,297,275	1,722,835
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	52,137	27,364
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	0	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	3,349,412	1,750,199
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	0	0
16a	Professional fundraising fees (Part IX, column (A), line 11e).....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f)....	2,583,590	1,064,417
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	2,583,590	1,064,417
19	Revenue less expenses. Subtract line 18 from line 12.......	765,822	685,782
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	15,465,861	6,022,881
21	Total liabilities (Part X, line 26).............	618,352	489,590
22	Net assets or fund balances. Subtract line 21 from line 20.....	14,847,509	5,533,291

Sign Here

	Signature of officer	Date

	Type or print name and title.


4a	(Code: ) (Expenses $ 880,806 including grants of $ ) (Revenue $ 1,750,199 )
	AS GENERAL PARTNER OR MANAGING MEMBER OF PARTNERSHIPS OR LIMITED LIABILITY COMPANIES, NEW YORK EQUITY FUND, INC. CONTROLS THE MAKING OF INVESTMENTS IN LOCAL LIMITED PARTNERSHIPS OR LIMITED LIABILITY COMPANIES THAT ACQUIRE, CONSTRUCT, OR REHABILITATE AND OPERATE LOW INCOME HOUSING PROJECTS.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses$ 880,806

(A) Name and Title	(B) Average hours per week (describe hours for related organizations in Schedule O)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)			(D) Reportable compensation from the organization (W- 2/1099-MISC)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and Title
(1) JOSEPH HAGAN PRESIDENT & CEO & DIRECTOR	2.0	X	X		0	680,222	50,299
(2) ANDREW DITTON DIRECTOR	.1	X			0	4,500	0
(3) ELIZABETH PUGH DIRECTOR	.1	X			0	15,000	0
(4) KEVIN BOES SVP	2.0		X		0	345,802	46,324
(5) ALEX DENJA SVP & CFO	2.0		X		0	203,122	41,674
(6) THOMAS FLANAGAN SECRETARY	2.0		X		0	166,563	23,155
(7) PETER HARRISON SVP	2.0		X		0	291,195	44,472
(8) LAWRENCE HOWARD SEREDA SVP	2.0		X		0	287,325	40,337
(9) MARK SIRANOVIC SVP	2.0		X		0	324,708	46,972
(10) KAREN PRZYPYSZNY SVP	2.0		X		0	290,775	41,356
(11) GREGORY SCHULER SVP & ASSISTANT SECRETARY	2.0		X		0	324,555	44,472
(12) PATRICK MAHER FORMER ASST SECRETARY	2.0			X	0	120,979	21,308
(13) RICHARD MANSON FORMER VICE PRESIDENT	2.0			X	0	143,296	37,973
(14) DARRELL HUBBARD FORMER SVP (THROUGH 6/30/2010)	0.0			X	0	107,650	19,639
(15) DENISE NOTICE-SCOTT FORMER EXECUTIVE DIRECTOR	2.0			X	0	169,134	26,740

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	0	3,474,826	484,721

(A) Name and business address	(B) Description of services	(C) Compensation
NATIONAL EQUITY FUND INC 120 S RIVERSIDE PLAZA 15TH FL CHICAGO,IL60606	LOW INCOME HOUS SERV	964,667




2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 1

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512, 513, or 514
1a	Federated campaigns..1a
b	Membership dues....1b
c	Fundraising events....1c
d	Related organizations...1d
e	Government grants (contributions)1e

f	All other contributions, gifts, grants, and similar amounts not included above1f
g	Noncash contributions included in lines 1a-1f:$
h	Total. Add lines 1a-1f.......			0
			Business Code
2a	LOW INCOME HOUSING REVENUE		541,610	1,722,835	1,722,835
b
c
d
e
f	All other program service revenue .
g	Total. Add lines 2a–2f........			1,722,835
3	Investment income (including dividends, interest
	and other similar amounts).....			27,364	27,364
4	Income from investment of tax-exempt bond proceeds..			0
5	Royalties............			0
		(i) Real	(ii) Personal
6a	Gross rents
b	Less: rental expenses
c	Rental income or (loss)
d	Net rental income or (loss).......
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory
b	Less: cost or other basis and sales expenses
c	Gain or (loss)
d	Net gain or (loss)..........			0
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities...			0
10a	Gross sales of inventory, less returns and allowances .
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..			0		0	0
Miscellaneous Revenue			Business Code
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See Instructions....			1,750,199	1,750,199	0	0

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses
1	Grants and other assistance to governments and organizations in the United States. See Part IV, line 21	0
2	Grants and other assistance to individuals in the United States. See Part IV, line 22	0
3	Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16	0
4	Benefits paid to or for members	0
5	Compensation of current officers, directors, trustees, and key employees ....	0
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	0
7	Other salaries and wages	0
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	0
9	Other employee benefits .......	0
10	Payroll taxes ...........	0
11	Fees for services (non-employees):
a	Management ......	0
b	Legal .........	14,188	11,547	2,641
c	Accounting ...........	6,750	5,357	1,393
d	Lobbying ...........	0
e	Professional fundraising. See Part IV, line 17..	0
f	Investment management fees ......	0
g	Other ..........	1,043,479	863,902	179,577
12	Advertising and promotion ....	0
13	Office expenses .......	0
14	Information technology ......	0
15	Royalties ..	0
16	Occupancy ...........	0
17	Travel ............	0
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......	0
19	Conferences, conventions, and meetings ....	0
20	Interest ...........	0
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization .....	0
23	Insurance ..............	0
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24f. If line 24f amount exceeds 10% of line 25, column (A) amount, list line 24f expenses on Schedule O.)
a
b
c
d
e
f	All other expenses
25	Total functional expenses. Add lines 1 through 24f	1,064,417	880,806	183,611	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).


			(A) Beginning of year		(B) End of year
1	Cashnon-interest-bearing ..........		0	1	0
2	Savings and temporary cash investments .......		0	2	0
3	Pledges and grants receivable, net .........		0	3	0
4	Accounts receivable, net .........		0	4	0
5	Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
	Schedule L ..........		0	5	0
6	Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
	Schedule L ..........		0	6	0
7	Notes and loans receivable, net .............		0	7	0
8	Inventories for sale or use ..............		0	8	0
9	Prepaid expenses and deferred charges ............		0	9	0
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a
b	Less: accumulated depreciation. .....	10b	0	10c
11	Investments—publicly traded securities ..........		0	11	0
12	Investments—other securities. See Part IV, line 11 ......		0	12	0
13	Investments—program-related. See Part IV, line 11 ..		0	13	0
14	Intangible assets .........		0	14	0
15	Other assets. See Part IV, line 11 ...........		15,465,861	15	6,022,881
16	Total assets. Add lines 1 through 15 (must equal line 34)...		15,465,861	16	6,022,881
17	Accounts payable and accrued expenses .		0	17	0
18	Grants payable ..........		0	18	0
19	Deferred revenue ..........		618,352	19	489,590
20	Tax-exempt bond liabilities ..........		0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D..		0	21	0
22	Payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........		0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..		0	23	0
24	Unsecured notes and loans payable to unrelated third parties ....		0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.....		0	25	0
26	Total liabilities. Add lines 17 through 25.....		618,352	26	489,590
	Organizations that follow SFAS 117, check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets .....		14,847,509	27	5,533,291
28	Temporarily restricted net assets .....		0	28	0
29	Permanently restricted net assets .....		0	29	0
	Organizations that do not follow SFAS 117, check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds .....			30
31	Paid-in or capital surplus, or land, building or equipment fund .....			31
32	Retained earnings, endowment, accumulated income, or other funds			32
33	Total net assets or fund balances .....		14,847,509	33	5,533,291
34	Total liabilities and net assets/fund balances .....		15,465,861	34	6,022,881