Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
|
Total |
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Calendar year (or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | 5,896,070 | 4,930,126 | 5,334,478 | 5,872,948 | 3,958,900 | 25,992,522 |
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | 5,896,070 | 4,930,126 | 5,334,478 | 5,872,948 | 3,958,900 | 25,992,522 |
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. | ||||||
| 6 | Public support. Subtract line 5 from line 4. | 25,992,522 | |||||
Calendar year
(or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | 5,896,070 | 4,930,126 | 5,334,478 | 5,872,948 | 3,958,900 | 25,992,522 |
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | 2,722 | 2,003 | 1,884 | 1,153 | 902 | 8,664 |
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | 26,001,606 | |||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support. (Subtract line 7c from line 6.) | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by .035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | ||
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
||
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | ||
| 4 Amounts paid to acquire exempt-use assets | ||
| 5 Qualified set-aside amounts (prior IRS approval required) | ||
| 6 Other distributions (describe in Part VI). See instructions | ||
| 7Total annual distributions. Add lines 1 through 6. | ||
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
||
| 9 Distributable amount for 2019 from Section C, line 6 | ||
| 10 Line 8 amount divided by Line 9 amount | ||
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2019 |
(iii) Distributable Amount for 2019 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2019 from Section C, line 6 | ||||
|
2
Underdistributions, if any, for years prior to 2019 (reasonable cause required-- explain in Part VI). See instructions. |
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| 3 Excess distributions carryover, if any, to 2019: | ||||
| a From 2014....... | ||||
| b From 2015....... | ||||
| c From 2016....... | ||||
| d From 2017....... | ||||
| e From 2018....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2019 distributable amount | ||||
|
i
Carryover from 2014 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from 3f. | ||||
| 4Distributions for 2019 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2019 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from 4. | ||||
|
5
Remaining underdistributions for years prior to 2019, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
6
Remaining underdistributions for 2019. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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7 Excess distributions carryover to 2020. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2015..... | ||||
| b Excess from 2016..... | ||||
| c Excess from 2017..... | ||||
| d Excess from 2018..... | ||||
| e Excess from 2019..... | ||||
| Facts And Circumstances Test |
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| Return Reference | Explanation |
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| Software ID: | |
| Software Version: |
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK AND EMPLOYEES MUST SIGN AS HAVING READ AND UNDERSTOOD. THE POLICY IS ALSO DISCUSSED AT QUARTERLY STAFF MEETINGS. POTENTIAL CONFLICTS ARE TO BE DISCLOSED IN WRITING TO HUMAN RESOURCES WHO THEN INVESTIGATE, MAKE AN INITIAL FINDING AS TO WHETHER A CONFLICT EXISTS, AND RECOMMEND TO MANAGEMENT POTENTIAL ACTION TO REMEDY THE SITUATION. THE COMPANY HAS A WHISTLEBLOWER POLICY THAT PROTECTS INDIVIDUALS WHO IDENTIFY A CONFLICT OF INTEREST IN AN EFFORT TO ENCOURAGE OPEN DISCLOSURE OF CONFLICTS OR WRONG DOING. THIS WHISTLEBLOWER POLICY CAN BE FOUND IN THE ECDI EMPLOYEE HANDBOOK AS WELL AS OUR BOARD POLICY MANUAL. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC SINCE THERE IS NO LEGAL PROVISION TO DO SO. |
| FORM 990, PART XI, LINE 9: | PARTNERSHIP INCOME NOT RECOGNIZED FOR BOOK PURPOSES 259,516. |
| PART XI, LINE 8 | THE FINANCIAL INFORMATION FOR 2017 HAS BEEN RESTATED TO CORRECT ERRORS IN ACCOUNTING FOR CERTAIN AGENCY AGREEMENTS, GRANT REVENUE RECOGNITION, AND FINANCIAL STATEMENT LINE AND NET ASSET CLASSIFICATIONS. AGENCY AGREEMENTS: OVER THE PAST TWELVE YEARS ECDI HAS BEEN THE SUB RECIPIENT OF GRANTS FROM CERTAIN LOCAL GOVERNMENTAL ENTITIES, TO RECEIVE AND MANAGE FEDERAL COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) REVOLVING LOAN FUNDS AWARDED TO THOSE GOVERNMENTAL ENTITIES. THE AGREEMENTS STATE ANY REMAINING BALANCE OF CASH AND/OR LOANS RECEIVABLE FROM THE CDBG REVOLVING LOAN FUNDS ARE TO BE RETURNED TO THE GOVERNMENTAL ENTITY UPON TERMINATION OF THE GRANTS. BASED ON THE FACTS AND CIRCUMSTANCES SURROUNDING THE GRANTS, ECDI ASSESSED THE LIKELIHOOD OF GRANT TERMINATION AS REMOTE, AND RECOGNIZED GRANT REVENUE FOR THE CDBG LOAN FUNDS RECEIVED CONSISTENT WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. DURING 2018 WHILE REVIEWING THE GRANT AGREEMENTS, ECDI DETERMINED THE HISTORICAL ACCOUNTING FOR THE RECEIPT OF CDBG LOAN FUNDS AS REVENUE WAS INCORRECT. THE CONTRACTS WERE DETERMINED TO BE AGENCY AGREEMENTS WITH ECDI MANAGING THE CDBG LOAN FUNDS ON BEHALF OF THE GOVERNMENTAL ENTITIES. THE FINANCIAL STATEMENTS FOR FISCAL YEAR ENDED JUNE 30, 2017 HAVE BEEN RESTATED TO REDUCE GRANT REVENUE FOR CDBG LOAN FUNDS RECEIVED IN 2017, REDUCE INTEREST ON LOANS RECEIVABLE AND LOAN LOSS EXPENSE ATTRIBUTED TO THE CDBG LOANS, AND AGGREGATE THE AGENCY ASSETS INTO A SINGLE FINANCIAL STATEMENT LINE ITEM, WITH AN OFFSETTING AGENCY LIABILITY FROM REDUCTION OF THE PERMANENTLY RESTRICTED NET ASSETS. ECDI REVISED ITS FINANCIAL REPORTING PROCESSES TO PROPERLY ACCOUNT FOR THE AGENCY FUNDS BEGINNING IN THE FISCAL YEAR ENDED JUNE 30, 2018. CDFI GRANT REVENUE RECOGNITION: DURING 2017 ECDI RECEIVED A FEDERAL COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI) FUND ASSISTANCE AGREEMENT GRANT. ECDI ASSESSED THE LIKELIHOOD OF NOT MEETING THE CONDITIONAL PERFORMANCE REQUIREMENTS OF THE GRANT AGREEMENT AS REMOTE, AND RECOGNIZED GRANT REVENUE IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. IN JUNE 2018 THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED ADDITIONAL GUIDANCE IN ACCOUNTING STANDARD UPDATE 2018-08. BASED ON THE ADDITIONAL GUIDANCE, AND THE SIGNIFICANCE OF THE CDFI GRANT IN 2017, ECDI RE-EVALUATED THE REVENUE RECOGNITION OF THE CDFI GRANT AND DETERMINED IT WOULD BE APPROPRIATE TO RESTATE THE 2017 FINANCIAL STATEMENTS. THE FINANCIAL STATEMENTS FOR FISCAL YEAR ENDED JUNE 30, 2017 HAVE BEEN RESTATED TO REDUCE GRANT REVENUE, INCREASE DEFERRED REVENUE, AND DECREASE TEMPORARILY RESTRICTED NET ASSETS. REVENUE WILL BE RECOGNIZED AS THE CONDITIONAL PERFORMANCE REQUIREMENTS UNDER THE GRANT ARE SATISFIED. NET ASSET AND FINANCIAL STATEMENT LINE RECLASSIFICATIONS: NET ASSETS ARE CLASSIFIED AS UNRESTRICTED, TEMPORARILY RESTRICTED, OR PERMANENTLY RESTRICTED DEPENDING ON THE PRESENCE AND CHARACTERISTICS OF DONOR IMPOSED RESTRICTIONS LIMITING ECDI'S ABILITY TO USE OR DISPOSE OF CONTRIBUTED ASSETS OR THE ECONOMIC BENEFITS EMBODIED IN THOSE ASSETS. DURING 2018 ECDI DETERMINED THE CLASSIFICATION OF CERTAIN NET ASSETS AS PERMANENTLY RESTRICTED WAS NOT CONSISTENT WITH THE DONOR AGREEMENTS. THESE NET ASSETS WERE RECLASSIFIED TO EITHER TEMPORARILY RESTRICTED OR UNRESTRICTED NET ASSETS AS OF THE FIRST DAY OF THE FISCAL YEAR ENDED JUNE 30, 2017. ADDITIONALLY DURING THE PROCESS OF RESTATING THE 2017 FINANCIAL STATEMENTS CERTAIN REVENUE LINES ON THE STATEMENT OF ACTIVITIES WERE FOUND TO BE IN ERROR AND THE BALANCES HAVE BEEN CORRECTED IN CONJUNCTION WITH THE RESTATEMENT. |
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