Form990
Click to see attachment
Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
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OMB No. 1545-0047
2019
Open to Public Inspection
A For the 2019 calendar year, or tax year beginning 01-01-2019 , and ending 12-31-2019
BCheck if applicable:
CName of organization
NEF COMMUNITY INVESTMENTS INC
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
10 S RIVERSIDE PLAZA SUITE 1700
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60606
D Employer identification number

36-4229337
E Telephone number

G Gross receipts $ 50,719,100
F Name and address of principal officer:
MATTHEW REILEIN
10 S RIVERSIDE PLAZA SUITE 1700
CHICAGO,IL60606
I
Tax-exempt status: ( 4 ) LeftBullet (insert no.) or
J
Website:MediumBullet
N/A
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:  
L Year of formation: 1998
M State of legal domicile: IL
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: NEF COMMUNITY INVESTMENTS, INC. ASSISTS NEF, INC. IN THE DEVELOPMENT AND PRESERVATION OF HIGH-QUALITY LOW INCOME RENTAL HOUSING BY MANAGING INVESTMENTS IN QUALIFYING PROJECTS.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 4
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 0
5 Total number of individuals employed in calendar year 2019 (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 39 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 0 0
9 Program service revenue (Part VIII, line 2g) ......... 42,703,889 50,657,166
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 15,728 61,934
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 9,099 0
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 42,728,716 50,719,100
Expenses; 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) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 35,201,033 31,802,966
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 35,201,033 31,802,966
19 Revenue less expenses. Subtract line 18 from line 12....... 7,527,683 18,916,134
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 29,468,298 37,105,717
21 Total liabilities (Part X, line 26)............. 8,737,059 7,747,863
22 Net assets or fund balances. Subtract line 21 from line 20..... 20,731,239 29,357,854
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
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Signature of officer Date
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Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet

Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2019)
Form 990 (2019)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: NEF COMMUNITY INVESTMENTS, INC. ASSISTS NATIONAL EQUITY FUND, INC. IN THE DEVELOPMENT AND PRESERVATION OF HIGH-QUALITY LOW-INCOME RENTAL HOUSING BY ESTABLISHING AND MANAGING INVESTMENT FUNDS THAT ATTRACT CAPITAL FOR INVESTMENT IN HOUSING PROJECTS QUALIFYING FOR LOW-INCOME HOUSING TAX CREDITS AND CONDUCTING RELATED ACTIVITIES.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 28,296,971 including grants of $   ) (Revenue $ 50,657,166 )
NEF COMMUNITY INVESTMENTS, INC. (NEFCI) SERVES AS THE GENERAL PARTNER OR MANAGING MEMBER AND SERVES AS THE SOLE MEMBER OF LIMITED LIABILITY COMPANIES WHICH SERVE AS THE GENERAL PARTNER AND MANAGING MEMBER OF INVESTOR LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES THAT ACQUIRE LIMITED PARTNER OR NON-MANAGING MEMBER INTERESTS IN PROJECT PARTNERSHIPS OR PROJECT LIMITED LIABILITY COMPANIES THAT ACQUIRE, OWN, CONSTRUCT, REHABILITATE AND OPERATE LOW-INCOME HOUSING PROJECTS. IN ADDITION, NEFCI PROVIDES AND FACILITATES ASSET MANAGEMENT SERVICES TO SUPPORT SUCH INVESTMENTS IN 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 expensesMediumBullet28,296,971
Form 990 (2019)
Form 990 (2019)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A.....................
1
 
No
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? ...
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........
4
 
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C, Part III..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment..............
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment...................
11a
 
No
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment.......
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment.......
11c
Yes
 
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment............
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
11e
 
No
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I(see instructions) ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....
21
 
No
Form 990 (2019)
Form 990 (2019)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part III.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in lines 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...
35b
 
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable ..
1a
0
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
 
 
Form 990 (2019)
Form 990 (2019)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
0
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
 
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
 
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see instructions and file Form 4720, Schedule N.
15
 
No
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
Form 990 (2019)
Form 990 (2019)
Page 6
Part VI
Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
4
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
0
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
 
No
b
Other officers or key employees of the organization ................
15b
 
No
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
Yes
 
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filedMediumBullet
18
Section 6104 requires an organization to make its Form 1023 (or 1024-A if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletALEX DENJA10 S RIVERSIDE PLAZA SUITE 1700   CHICAGO,IL60606 (312) 360-0400
Form 990 (2019)
Form 990 (2019)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(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
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) JOSEPH HAGAN......................................................................
PRESIDENT EMERITUS
 18.00
.................
22.00 		X   X       0 1,426,968 356,041
(2) JUDY SCHNEIDER......................................................................
SVP & ASST SEC. (AND DIREC
 19.00
.................
21.00 		X   X       0 518,346 51,895
(3) MARK SIRANOVIC......................................................................
SVP (AND DIRECTOR)
 18.00
.................
22.00 		X   X       0 504,251 52,780
(4) MATTHEW REILEIN......................................................................
PRESIDENT & CEO (AND DIREC
 18.00
.................
22.00 		X   X       0 225,319 14,586
(5) ALEX DENJA......................................................................
SVP, COO, CFO
 18.00
.................
22.00 		    X       0 540,463 54,172
(6) KEVIN D BOES......................................................................
SVP
 2.70
.................
37.30 		    X       0 434,999 58,641
(7) MICHAEL ROGERS......................................................................
SVP & SECRETARY
 18.00
.................
22.00 		    X       0 439,582 49,329
(8) PETER HARRISON......................................................................
SVP
 18.00
.................
22.00 		    X       0 460,306 52,200
(9) REENA BRAMBLETT......................................................................
SVP
 18.00
.................
22.00 		    X       0 439,143 23,959
(10) KAREN PRZYPYSZNY......................................................................
FORMER SVP
 36.00
.................
4.00 		          X 0 340,605 45,873
(11) GREGORY SCHULER......................................................................
FORMER SVP & ASST SECRETAR
 0.00
.................
40.00 		          X 0 237,279 21,642












Form 990 (2019)
Form 990 (2019)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(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
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;


























1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)...........MediumBullet 0 5,567,261 781,118
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization MediumBullet0
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
NATIONAL EQUITY FUND INC

10 S RIVERSIDE PL STE 1700
CHICAGO,IL60606 		CONSULTING FEES 31,760,947
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet1
Form 990 (2019)
Form 990 (2019)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and similar amounts not included above1f  
g Noncash contributions included in lines 1a - 1f:$ 1g  
h Total. Add lines 1a-1f.......MediumBullet  
Program Service RevenueAmt Business Code
2a LOW INC HOUSING REVENUE 541610 50,657,166 50,657,166    
b
c
d
e
f All other program service revenue.        
g Total. Add lines 2a–2f .....MediumBullet 50,657,166
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ......MediumBullet 61,934     61,934
4 Income from investment of tax-exempt bond proceedsMediumBullet        
5 Royalties...........MediumBullet        
(ii) Personal (i) Real
6a Gross rents     6a
b Less: rental expenses     6b
c Rental income or (loss)     6c
d Net rental income or (loss).......MediumBullet        
(ii) Other (i) Securities
7a Gross amount from sales of assets other than inventory     7a
b Less: cost or other basis and sales expenses     7b
c Gain or (loss)     7c
d Net gain or (loss).........MediumBullet        
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a  
b Less: direct expenses ... 8b  
c Net income or (loss) from fundraising events..MediumBullet      
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..MediumBullet        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..MediumBullet        
Business Code Miscellaneous Revenue
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet  
12 Total revenue. See instructions.....MediumBullet 50,719,100 50,657,166 0 61,934
Form 990 (2019)
Form 990 (2019)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
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 domestic organizations and domestic governments. See Part IV, line 21 ....    
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ...........    
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............    
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ...........        
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........        
7 Other salaries and wages........        
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....        
9 Other employee benefits .......        
10 Payroll taxes ...........        
11 Fees for services (non-employees):        
a Management ......        
b Legal .........        
c Accounting ........... 11,216   11,216  
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ......        
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 31,760,947 28,293,742 3,467,205  
12 Advertising and promotion ....        
13 Office expenses ....... 27,574   27,574  
14 Information technology ......        
15 Royalties ..        
16 Occupancy ...........        
17 Travel ............        
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings ....        
20 Interest ...........        
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization ..        
23 Insurance ...        
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a MISCELLANEOUS EXPENSES 3,229 3,229    
b
c
d
e All other expenses        
25 Total functional expenses. Add lines 1 through 24e 31,802,966 28,296,971 3,505,995 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 MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2019)
Form 990 (2019)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 1,447,855 1 4,563,661
2 Savings and temporary cash investments .........   2  
3 Pledges and grants receivable, net ......   3  
4 Accounts receivable, net .............   4 5,023,134
5 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ...........   7  
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ......   9  
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a  
b Less: accumulated depreciation 10b     10c  
11 Investments—publicly traded securities .   11  
12 Investments—other securities. See Part IV, line 11 .....   12  
13 Investments—program-related. See Part IV, line 11 .. 9,478,706 13 7,713,067
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 18,541,737 15 19,805,855
16 Total assets. Add lines 1 through 15 (must equal line 33)... 29,468,298 16 37,105,717
Liabilities 17 Accounts payable and accrued expenses ..... 7,870,747 17 6,873,551
18 Grants payable ...   18  
19 Deferred revenue ......... 866,312 19 874,312
20 Tax-exempt bond liabilities .........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ..   24  
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   25  
26 Total liabilities. Add lines 17 through 25.. 8,737,059 26 7,747,863
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here MediumBullet and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 20,731,239 27 29,357,854
28 Net assets with donor restrictions ...........   28  
Organizations that do not follow FASB ASC 958, check here MediumBullet and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 20,731,239 32 29,357,854
33 Total liabilities and net assets/fund balances ........ 29,468,298 33 37,105,717
Form 990 (2019)
Form 990 (2019)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
50,719,100
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
31,802,966
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
18,916,134
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
20,731,239
5
Net unrealized gains (losses) on investments ...............
5
 
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
4,710,481
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
-15,000,000
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
29,357,854
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2019)
Form 990 (2019)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," on 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 Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
NEF COMMUNITY INVESTMENTS INC
 
Employer identification number

36-4229337
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
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? ............
6
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? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
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.
Held at the End of the 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 7/25/06, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, 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" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB 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 XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB 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)
Revenue included on Form 990, Part VIII, line 1 .........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
2
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 FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2019

Schedule D (Form 990) 2019
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
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?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on 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 ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Term endowment SchDMd Bullet  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
 
(ii) Related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. 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).)..SchDMdBullet 0
Schedule D (Form 990) 2019

Schedule D (Form 990) 2019
Page 3
Part VII
Investments—Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. 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........    
(3)Other
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)INVESTMENTS IN AFFILIATES 7,713,067 C
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet 7,713,067
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)DUE FROM NEF INC, NET 16,725,458
(2)DUE TO AFFILIATES, NET 2,980,397
(3)OTHER RECEIVABLES 100,000
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 19,805,855
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet  
2. Liability for uncertain tax positions. In Part XIII, 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 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2019

Schedule D (Form 990) 2019
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
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 (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 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 XIII.) ........... 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 XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
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 XIII.) ............ 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 XIII.) ............ 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 XIII
Supplemental Information
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, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(4) OF THE U.S. INTERNAL REVENUE CODE (THE CODE). AS A 501(C)(4) CORPORATION, CONTRIBUTIONS TO NEF ARE NOT TAX DEDUCTIBLE. THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE ORGANIZATION'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER INTERNAL REVENUE CODE SECTION 511. AS A RESULT OF THE TAX CUTS AND JOBS ACT, QUALIFIED TRANSPORTATION FRINGE BENEFITS PROVIDED TO EMPLOYEES ARE NOW TREATED AS UNRELATED BUSINESS INCOME. THE ORGANIZATION RECOGNIZED UNRELATED BUSINESS INCOME TAX LIABILITIES OF $42,178 AND $53,052 FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 AND THESE AMOUNTS ARE INCLUDED IN OFFICE AND ADMINISTRATIVE EXPENSES IN THE ACCOMPANYING CONSOLIDATED STATEMENTS OF ACTIVITIES. THE UNRELATED BUSINESS INCOME TAX LIABILITIES ARE ENTIRELY RELATED TO QUALIFIED TRANSPORTATION FRINGE BENEFITS PROVIDED TO EMPLOYEES. ON DECEMBER 20, 2019, H. R. 1865 FURTHER CONSOLIDATED APPROPRIATIONS ACT, 2020 (THE "ACT") WAS SIGNED INTO LAW AS PART OF A SPENDING BILL TO FUND THE GOVERNMENT THROUGH SEPTEMBER 2020. THE ACT REPEALS THE "QUALIFIED TRANSPORTATION FRINGE BENEFITS TAX" PAID BY TAX EXEMPT EMPLOYERS. THE CORPORATION EXPECTS TO RECEIVE A FULL REFUND IN 2020 FOR TAXES PAID FOR QUALIFIED TRANSPORTATION FRINGE BENEFITS. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2016 REMAIN OPEN.
Schedule D (Form 990) 2019


Additional Data


Software ID:  
Software Version:  




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" on Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990.
SchJMediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
NEF COMMUNITY INVESTMENTS INC
 
Employer identification number

36-4229337
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .........
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ..
2
 
 
3
Indicate which, if any, of the following the filing organization used 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.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
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), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported on 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 ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2019

Schedule J (Form 990) 2019
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 on 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 (E) amounts for that individual.
(A) Name and Title (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 in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1JOSEPH HAGAN
PRESIDENT EMERITUS 		(i)

(ii)		 0
-------------
364,758 		0
-------------
1,060,000 		0
-------------
2,210 		0
-------------
332,200 		0
-------------
24,307 		0
-------------
1,783,475 		0
-------------
833,333
2JUDY SCHNEIDER
SVP & ASST SEC. (AND DIREC 		(i)

(ii)		 0
-------------
226,366 		0
-------------
290,000 		0
-------------
1,980 		0
-------------
26,554 		0
-------------
26,977 		0
-------------
571,877 		0
-------------
0
3MARK SIRANOVIC
SVP (AND DIRECTOR) 		(i)

(ii)		 0
-------------
222,961 		0
-------------
280,000 		0
-------------
1,290 		0
-------------
26,439 		0
-------------
29,374 		0
-------------
560,064 		0
-------------
0
4MATTHEW REILEIN
PRESIDENT & CEO (AND DIREC 		(i)

(ii)		 0
-------------
225,219 		0
-------------
0 		0
-------------
100 		0
-------------
0 		0
-------------
20,812 		0
-------------
246,131 		0
-------------
0
5ALEX DENJA
SVP, COO, CFO 		(i)

(ii)		 0
-------------
260,163 		0
-------------
280,000 		0
-------------
300 		0
-------------
30,306 		0
-------------
25,839 		0
-------------
596,608 		0
-------------
0
6KEVIN D BOES
SVP 		(i)

(ii)		 0
-------------
274,549 		0
-------------
160,000 		0
-------------
450 		0
-------------
32,200 		0
-------------
28,107 		0
-------------
495,306 		0
-------------
0
7MICHAEL ROGERS
SVP & SECRETARY 		(i)

(ii)		 0
-------------
218,292 		0
-------------
220,000 		0
-------------
1,290 		0
-------------
25,488 		0
-------------
25,777 		0
-------------
490,847 		0
-------------
0
8PETER HARRISON
SVP 		(i)

(ii)		 0
-------------
218,326 		0
-------------
240,000 		0
-------------
1,980 		0
-------------
25,859 		0
-------------
29,867 		0
-------------
516,032 		0
-------------
0
9REENA BRAMBLETT
SVP 		(i)

(ii)		 0
-------------
207,853 		0
-------------
230,000 		0
-------------
1,290 		0
-------------
23,959 		0
-------------
3,346 		0
-------------
466,448 		0
-------------
0
10KAREN PRZYPYSZNY
FORMER SVP 		(i)

(ii)		 0
-------------
188,625 		0
-------------
150,000 		0
-------------
1,980 		0
-------------
22,032 		0
-------------
25,393 		0
-------------
388,030 		0
-------------
0
11GREGORY SCHULER
FORMER SVP & ASST SECRETAR 		(i)

(ii)		 0
-------------
189,690 		0
-------------
45,379 		0
-------------
2,210 		0
-------------
21,642 		0
-------------
345 		0
-------------
259,266 		0
-------------
0
Schedule J (Form 990) 2019

Schedule J (Form 990) 2019
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
PART I, LINE 4B NATIONAL EQUITY FUND, INC. AWARDS A LONGEVITY BONUS ACCRUED FOR AN ELIGIBLE EMPLOYEE. IN 2019, $1,000,000 WAS PAID TO JOSEPH HAGAN. $833,333 WAS ACCRUED ON PRIOR YEARS' FORM 990.
Schedule J (Form 990) 2019

Additional Data


Software ID:  
Software Version:  
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 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Name of the organization
NEF COMMUNITY INVESTMENTS INC
 
Employer identification number

36-4229337
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 6 NATIONAL EQUITY FUND, INC, IS THE PARENT AND SOLE VOTING MEMBER OF NEF COMMUNITY INVESTMENTS, 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 NEF COMMUNITY INVESTMENTS, INC'S BOARD.
FORM 990, PART VI, SECTION A, LINE 7A SAME AS LINE 6 EXPLANATION.
FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 FOR NEF COMMUNITY INVESTMENTS, INC. IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY 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 NEF COMMUNITY INVESTMENTS, INC. THE DIRECTORS OF NEF COMMUNITY INVESTMENTS, INC. HAVE DELEGATED RESPONSIBILITY TO REVIEW THE FORM 990 TO THE AUDIT COMMITTEE OF THE PARENT ORGANIZATION. A COPY OF THE FINAL FORM 990 WAS SENT TO EACH MEMBER OF THE FULL BOARD OF NEF COMMUNITY INVESTMENTS, INC. PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C NEF COMMUNITY INVESTMENTS, 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 ORGANIZATION'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.
FORM 990, PART VI, SECTION B, LINE 15 NEF COMMUNITY INVESTMENTS, 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. NEF COMMUNITY INVESTMENTS, 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 INSTRUCTIONS FOR LINE 15, THE ORGANIZATION MUST ANSWER "NO" SINCE COMPENSATION IS NOT PAID DIRECTLY FROM THE ORGANIZATION.
FORM 990, PART VI, SECTION C, LINE 19 NEF COMMUNITY INVESTMENTS, 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.
FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 28,293,742. MANAGEMENT AND GENERAL EXPENSES 3,467,205. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,760,947.
FORM 990, PART XI, LINE 9: CAPITAL CONTRIBUTIONS TO NATIONAL EQUITY FUND, INC. -15,000,000.
FORM 990, PART XII, LINE 2C: NO CHANGES FROM PRIOR YEAR RETURN.
FORM 990, PART XI, LINE 8: DURING 2019, THE CORPORATION ADOPTED ACCOUNTING STANDARDS UPDATE 2014-09, REVENUE FROM CONTRACTS WITH CUSTOMERS, AND ACCOUNTING STANDARD UPDATE 2016-02, LEASES. AS A RESULT, BEGINNING NET ASSETS WERE RESTATED. THE NET EFFECT OF THESE RESTATEMENTS IS PRESENTED ON FORM 990, PART XI AS A PRIOR PERIOD ADJUSTMENT.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019


Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990.
MediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
NEF COMMUNITY INVESTMENTS INC
 
Employer identification number

36-4229337
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) 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
(1) BOACHIF FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-3402669 		LOW INCOME HOUSING DE 0 -10,486 NEF COMMUNITY INVESTMENTS INC
 
(2) MS FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-3716762 		LOW INCOME HOUSING DE 0 -6,067 NEF COMMUNITY INVESTMENTS INC
 
(3) NATIONAL EQUITY FUND 2009 LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-4818669 		LOW INCOME HOUSING DE 121,470 1,275,595 NEF COMMUNITY INVESTMENTS INC
 
(4) NEF 2011 FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-2642828 		LOW INCOME HOUSING IL 138,108 1,197,050 NEF COMMUNITY INVESTMENTS INC
 
(5) NEF 2011 LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3062048 		LOW INCOME HOUSING IL 185,559 4,873,898 NEF COMMUNITY INVESTMENTS INC
 
(6) NEF 2012 FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
80-0796633 		LOW INCOME HOUSING IL 157,988 863,647 NEF COMMUNITY INVESTMENTS INC
 
(7) NEF 2013 FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1704716 		LOW INCOME HOUSING IL 114,580 322,720 NEF COMMUNITY INVESTMENTS INC
 
(8) NEF 2014 FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4783243 		LOW INCOME HOUSING IL 444,775 -1,145,667 NEF COMMUNITY INVESTMENTS INC
 
(9) NEF 2014 REGIONAL FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1743650 		LOW INCOME HOUSING IL 0 -1,149 NEF COMMUNITY INVESTMENTS INC
 
(10) NEF 2015 REGIONAL FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0471706 		LOW INCOME HOUSING IL 0 -1,108 NEF COMMUNITY INVESTMENTS INC
 
(11) NEF 2016 REGIONAL FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
28-2987334 		LOW INCOME HOUSING IL 0 -6,329 NEF COMMUNITY INVESTMENTS INC
 
(12) NEF 2017 REGIONAL FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4856605 		LOW INCOME HOUSING IL 0 -4,955 NEF COMMUNITY INVESTMENTS INC
 
(13) NEF 2018 FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
 LOW INCOME HOUSING IL 0 -228 NEF COMMUNITY INVESTMENTS INC
 
(14) NEF 2018 REGIONAL FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
 LOW INCOME HOUSING IL 0 -2,918 NEF COMMUNITY INVESTMENTS INC
 
(15) NEF 2019 FUND MANAGER
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
 LOW INCOME HOUSING IL 0 -508 NEF COMMUNITY INVESTMENTS INC
 
(16) NEF ASSET MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0529102 		LOW INCOME HOUSING IL 0 -1,043 NEF COMMUNITY INVESTMENTS INC
 
(17) NEF ENCANTO POINTE MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3343479 		LOW INCOME HOUSING IL 0 0 NEF COMMUNITY INVESTMENTS INC
 
(18) NEF FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4865472 		LOW INCOME HOUSING IL 0 -4,843 NEF COMMUNITY INVESTMENTS INC
 
(19) NEF INVESTMENT FUND MANAGER
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
 LOW INCOME HOUSING IL 0 -2,718 NEF COMMUNITY INVESTMENTS INC
 
(20) NEF INVESTMENT PARTNERS LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
 LOW INCOME HOUSING IL 0 0 NEF COMMUNITY INVESTMENTS INC
 
(21) NEF KEY FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0469967 		LOW INCOME HOUSING IL 0 -858 NEF COMMUNITY INVESTMENTS INC
 
(22) NEF NEIGHBORHOOD REVITALIZATION FUND II MGR LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-4033150 		LOW INCOME HOUSING DE 0 0 NEF COMMUNITY INVESTMENTS INC
 
(23) NEF ORCHARD WESTCHASE MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3343375 		LOW INCOME HOUSING IL 0 0 NEF COMMUNITY INVESTMENTS INC
 
(24) NEF PRESERVATION FUND MANAGER LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4794560 		LOW INCOME HOUSING IL 4,043,657 4,044,144 NEF COMMUNITY INVESTMENTS INC
 
(25) NYC DMH LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
80-0947697 		LOW INCOME HOUSING IL 266,134 264,854 NEF COMMUNITY INVESTMENTS INC
 
(26) NYEF HOLDINGS LLC
10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2536193 		LOW INCOME HOUSING IL 0 -825 NEF COMMUNITY INVESTMENTS INC
 
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 entity?
Yes No
(1)LOCAL INITIATIVES MANAGED ASSET CORP
28 LIBERTY STREET 34TH FLOOR

NEW YORK,NY10005
11-2848981 		COMMUNITY DEVELOPMENT NY 501(C)(3) LINE 10 LISC
 
 
No
(2)LOCAL INITIATIVES SUPPORT CORPORATION
28 LIBERTY STREET 34TH FLOOR

NEW YORK,NY10005
13-3030229 		COMMUNITY DEVELOPMENT NY 501(C)(3) LINE 7 N/A
 
No
(3)NATIONAL EQUITY FUND INC
10 S RIVERSIDE PLAZA STE 1700

CHICAGO,IL60606
36-3490231 		LOW INCOME HOUSING IL 501(C)(4)   LISC
 
 
No
(4)NEW YORK EQUITY FUND INC
10 S RIVERSIDE PLAZA STE 1700

CHICAGO,IL60606
36-4041986 		LOW INCOME HOUSING IL 501(C)(4)   NEF INC
 
 
No
(5)OREGON CORP FOR AFFORDABLE HOUSING
10 S RIVERSIDE PLAZA STE 1700

CHICAGO,IL60606
93-1113844 		LOW INCOME HOUSING OR 501(C)(3) LINE 10 NEF INC
 
 
No
(6)THE RETAIL INITIATIVE INC
28 LIBERTY STREET 34TH FLOOR

NEW YORK,NY10005
13-3690780 		COMMUNITY DEVELOPMENT NY 501(C)(3) LINE 10 LISC
 
 
No


For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
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 V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) ACD MIDWEST FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4849878 		LOW INCOME HOUSING IL NEFCI
  		RELATED -230 27,830   No   Yes   0.010 %
(2) ACD MIDWEST FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-3620204 		LOW INCOME HOUSING IL NEF INVESTMENT FUND MANAGER LLC
  		RELATED -3 2,053,920   No   Yes   0.010 %
(3) ALSTON LAKE LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0740773 		LOW INCOME HOUSING SC N/A
                  
(4) BANC OF AMERICA CHIF II LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0296106 		LOW INCOME HOUSING DE N/A
                  
(5) BANC OF AMERICA CHIF III LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-3697681 		LOW INCOME HOUSING DE N/A
                  
(6) BANK OF AMERICA CHIF IV LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-1851404 		LOW INCOME HOUSING DE N/A
                  
(7) BANK OF AMERICA CHIF IX LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-3979094 		LOW INCOME HOUSING IL BOACHIF FUND MANAGER
  		RELATED -571 21,790   No   Yes   0.010 %
(8) BANK OF AMERICA CHIF VI LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-3402632 		LOW INCOME HOUSING DE BOACHIF FUND MANAGER
  		RELATED -423 9,007   No   Yes   0.010 %
(9) BANK OF AMERICA CHIF VII LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-0885709 		LOW INCOME HOUSING IL BOACHIF FUND MANAGER
  		RELATED -175 861   No   Yes   0.010 %
(10) BANK OF AMERICA CHIF VIII LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0829863 		LOW INCOME HOUSING IL BOACHIF FUND MANAGER
  		RELATED -637 21,112   No   Yes   0.010 %
(11) BANK OF AMERICA CHIF X LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-1011322 		LOW INCOME HOUSING IL BOACHIF FUND MANAGER
  		RELATED -45 23,356   No   Yes   0.010 %
(12) BANK OF AMERICA CHIF XI LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-2463274 		LOW INCOME HOUSING IL BOACHIF FUND MANAGER
  		RELATED -5 8,615   No   Yes   0.010 %
(13) BELLE HAVEN LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-3927517 		LOW INCOME HOUSING MN N/A
                  
(14) BOA ADDABBO INVESTMENT FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
56-1762616 		COMMUNITY DEV DE N/A
                  
(15) BOA BARTLETT YARD INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
56-1762616 		COMMUNITY DEV DE N/A
                  
(16) BOA FCE INVESTMENT FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-4940840 		COMMUNITY DEV DE N/A
                  
(17) BOA GOODWILL CHARLOTTE INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
56-1762616 		COMMUNITY DEV DE N/A
                  
(18) BOA RUMRILL PARK INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
56-1762616 		COMMUNITY DEV DE N/A
                  
(19) BOA URBAN CORPS INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
56-1762616 		COMMUNITY DEV DE N/A
                  
(20) BOA WATERFIRE INVESTMENT FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
56-1762616 		COMMUNITY DEV DE N/A
                  
(21) CALIFORNIA EQUITY FUND 2002 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
94-3427611 		LOW INCOME HOUSING DE N/A
                  
(22) CALIFORNIA EQUITY FUND 2003 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0233867 		LOW INCOME HOUSING DE N/A
                  
(23) CALIFORNIA EQUITY FUND 2004 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-1384513 		LOW INCOME HOUSING DE N/A
                  
(24) CALIFORNIA EQUITY FUND 2013 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1695178 		LOW INCOME HOUSING DE NEFCI
  		RELATED -202 2,823   No   Yes   0.010 %
(25) CALIFORNIA EQUITY FUND 2014 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2484320 		LOW INCOME HOUSING IL NEFCI
  		RELATED -261 24,663   No   Yes   0.010 %
(26) CALIFORNIA EQUITY FUND 2015 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1756884 		LOW INCOME HOUSING IL NEFCI
  		RELATED -211 6,974   No   Yes   0.010 %
(27) CALIFORNIA EQUITY FUND 2016 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
81-1109151 		LOW INCOME HOUSING IL NEF 2016 REGIONAL FUND MANAGER LLC
  		RELATED -527 220,433   No   Yes   0.010 %
(28) CALIFORNIA EQUITY FUND 2017 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
37-1849245 		LOW INCOME HOUSING IL NEF 2017 REGIONAL FUND MANAGER LLC
  		RELATED -322 3,112,542   No   Yes   0.010 %
(29) CALIFORNIA EQUITY FUND 2018 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
82-4072163 		LOW INCOME HOUSING IL NEF 2018 REGIONAL FUND MANAGER LLC
  		RELATED -365 2,919,646   No   Yes   0.010 %
(30) CALIFORNIA EQUITY FUND 2019 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-2877793 		LOW INCOME HOUSING IL NEF 2019 REGIONAL FUND MANAGER LLC
  		RELATED -88 2,023,418   No   Yes   0.010 %
(31) CAPITAL ACCESS FUND OF CLEVELAND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-4452390 		COMMUNITY DEV DE N/A
                  
(32) CAPITOL THEATRE INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-4094343 		COMMUNITY DEV DE N/A
                  
(33) CATHAY SHARED INVESTMENT FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
37-1761153 		LOW INCOME HOUSING IL NEFCI
  		RELATED -243 27,998   No   Yes   0.010 %
(34) CATHAY SHARED INVESTMENT FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2562487 		LOW INCOME HOUSING IL NEFCI
  		RELATED -197 15,402   No   Yes   0.010 %
(35) CATHAY SHARED INVESTMENT FUND III LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0534451 		LOW INCOME HOUSING IL NEF FUND MANAGER LLC
  		RELATED -203 90,452   No   Yes   0.010 %
(36) CATHAY SHARED INVESTMENT FUND IV LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-2113642 		LOW INCOME HOUSING IL NEF INVESTMENT FUND MANAGER LLC
  		RELATED -13 273,826   No   Yes   0.010 %
(37) CHASE NMTC AVONDALE INVESTMENT

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
36-4731461 		COMMUNITY DEV DE N/A
                  
(38) CHASE NMTC BRUNSWICK INVESTMENT

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
30-0756611 		COMMUNITY DEV DE N/A
                  
(39) CHASE NMTC EMMI ROTH INVESTMENT

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-0666418 		COMMUNITY DEV DE N/A
                  
(40) CHASE NMTC LISC CHARTER SCHOOL

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
80-0868715 		COMMUNITY DEV DE N/A
                  
(41) CHASE NMTC PASEO VERDE INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3529801 		COMMUNITY DEV DE N/A
                  
(42) CHICAGO EQUITY FUND 2000 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4325575 		LOW INCOME HOUSING IL NEFCI
  		RELATED -363 240,588   No   Yes   0.010 %
(43) CHICAGO EQUITY FUND 2001 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4416840 		LOW INCOME HOUSING IL NEFCI
  		RELATED -7 1,025   No   Yes   0.010 %
(44) CHICAGO EQUITY FUND 2002 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0066665 		LOW INCOME HOUSING IL NEFCI
  		RELATED -33 233,588   No   Yes   0.010 %
(45) CHICAGO EQUITY FUND 2003 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0149138 		LOW INCOME HOUSING IL NEFCI
  		RELATED 93,403 530,807   No   Yes   4.760 %
(46) CHICAGO EQUITY FUND 2004 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0106888 		LOW INCOME HOUSING IL NEFCI
  		RELATED -38,601 1,243,790   No   Yes   7.610 %
(47) CIBC BANK USA AFFORDABLE HOUSING

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
37-1841929 		LOW INCOME HOUSING IL NEFCI
  		RELATED -762 4,737,460   No   Yes   0.010 %
(48) CITIGROUP CCDE INVESTMENT FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4425650 		LOW INCOME HOUSING DE N/A
                  
(49) COMMUNITY COLLABORATIVE AFFORDABLE HOUSING PRESERVATION FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0555226 		LOW INCOME HOUSING DE N/A
                  
(50) COVINGTON INVESTMENT FUND LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-1490747 		LOW INCOME HOUSING DE NEFCI
  		RELATED 130 152   No   Yes   0.010 %
(51) CRESCENT COMMUNITY INVESTMENT FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-0859985 		LOW INCOME HOUSING DE N/A
                  
(52) FIFTH THIRD INVESTMENT FUND LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
94-3427804 		LOW INCOME HOUSING DE NEFCI
  		RELATED -1 494,385   No   Yes    
(53) FNBC LEASING INVESTMENT FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-5046285 		LOW INCOME HOUSING DE N/A
                  
(54) FOUR EIGHTY-ONE HOUSING INVESTMENT FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-0711050 		LOW INCOME HOUSING DE NEFCI
  		RELATED -495 4,314,474   No   Yes   0.010 %
(55) FOUR EIGHTY-ONE HOUSING INVESTMENT FUND II

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3754747 		LOW INCOME HOUSING IL NEFCI
  		RELATED -341 72,397   No   Yes   0.010 %
(56) FOUR EIGHTY-ONE HOUSING INVESTMENT FUND III

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-0929576 		LOW INCOME HOUSING IL NEFCI
  		RELATED -257 60,411   No   Yes   0.010 %
(57) FOUR EIGHTY-ONE HOUSING INVESTMENT FUND IV

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0449544 		LOW INCOME HOUSING IL NEFCI
  		RELATED -872 1,266,726   No   Yes   0.010 %
(58) FOUR EIGHTY-ONE HOUSING INVESTMENT FUND V

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
37-1895553 		LOW INCOME HOUSING IL NEFCI
  		RELATED -133 1,192,770   No   Yes   0.010 %
(59) FRESH FOODS INVESTMENT FUND (I

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-2906384 		COMMUNITY DEV DE N/A
                  
(60) GOOD JOBS INVESTMENT FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-4882566 		COMMUNITY DEV DE N/A
                  
(61) GRC NMTC INVESTMENT FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-2898225 		COMMUNITY DEV DE N/A
                  
(62) GROW INDIANAPOLIS FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-2399355 		COMMUNITY DEV DE N/A
                  
(63) GS-NYEF 2009 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-1086070 		LOW INCOME HOUSING DE N/A
                  
(64) HARBOR VIEW PHASE I

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
56-2281877 		LOW INCOME HOUSING DE N/A
                  
(65) HAWAII AFFORDABLE HOUSING FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0966297 		LOW INCOME HOUSING IL NEF 2017 REGION
  		RELATED -49 186   No   Yes   0.010 %
(66) HEALTHY FUTURES FQHC FINANCING II

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1437841 		COMMUNITY DEV DE N/A
                  
(67) HEALTHY FUTURES FQHC FINANCING LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-1322575 		COMMUNITY DEV DE N/A
                  
(68) HILLCREST COMMONS LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0433943 		LOW INCOME HOUSING DE N/A
                  
(69) HOMESTEAD EQUITY FND III PROPRERTY FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
76-0720406 		LOW INCOME HOUSING OR N/A
                  
(70) HOMESTEAD EQUITY FUND A-WASHINGTON LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
93-1309850 		LOW INCOME HOUSING OR N/A
                  
(71) HOMESTEAD EQUITY FUND B-OREGON LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
74-3068676 		LOW INCOME HOUSING OR N/A
                  
(72) HOMESTEAD EQUITY FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
93-1305114 		LOW INCOME HOUSING OR N/A
                  
(73) HOMESTEAD EQUITY FUND III LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-0018664 		LOW INCOME HOUSING OR N/A
                  
(74) HOMESTEAD EQUITY FUND IV LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
72-1552615 		LOW INCOME HOUSING OR N/A
                  
(75) HOMESTEAD EQUITY FUND V LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0912383 		LOW INCOME HOUSING OR N/A
                  
(76) HOMESTEAD EQUITY FUND VI LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-3624501 		LOW INCOME HOUSING OR N/A
                  
(77) HOMESTEAD EQUITY FUND VII LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-0796373 		LOW INCOME HOUSING OR N/A
                  
(78) HOMESTEAD EQUITY FUND VIII LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-3897389 		LOW INCOME HOUSING OR N/A
                  
(79) HOMESTEAD EQUITY FUND X LIMITED

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-3889070 		LOW INCOME HOUSING DE NEFCI
  		RELATED -86 20,244   No   Yes   0.010 %
(80) HOMESTEAD EQUITY FUND XI LIMITED

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-0973765 		LOW INCOME HOUSING DE NEFCI
  		RELATED -438 45,821   No   Yes   0.010 %
(81) HOMESTEAD EQUITY FUND XII LIMITED

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-3958343 		LOW INCOME HOUSING IL NEFCI
  		RELATED -167 7,494   No   Yes   0.010 %
(82) HOMESTEAD EQUITY FUND XIII LIMITED

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
81-2165545 		LOW INCOME HOUSING IL NEF 2016 REG FUND MANAGER
  		RELATED -610 437,495   No   Yes   0.010 %
(83) HOMESTEAD EQUITY FUND XIV LIMITED

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2602407 		LOW INCOME HOUSING IL NEF 2017 REG FUND MANAGER
  		RELATED -763 313,796   No     No 0.010 %
(84) HOMESTEAD EQUITY FUND XV LIMITED PARTNERSHIP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-0926813 		LOW INCOME HOUSING IL NEF 2018 REGIONAL FUND MANAGER LLC
  		RELATED -4,692 354,678   No   Yes   5.690 %
(85) HOMESTEAD EQUITY FUND XVI LIMITED PARTNERSHIP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-2071025 		LOW INCOME HOUSING IL NEF 2019 REGIONAL FUND MANAGER LLC
  		RELATED -25 1,734,330   No   Yes   0.010 %
(86) HOMESTEAD NORTHERN CALIFORNIA

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-4596836 		LOW INCOME HOUSING OR N/A
                  
(87) HOMESTEAD PRESERVATION LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-3520887 		LOW INCOME HOUSING IL N/A
                  
(88) HOMESTEAD WESTERN COMMUNITIES

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0912505 		LOW INCOME HOUSING OR N/A
                  
(89) HORIZON VILLAGE ONE LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0014388 		LOW INCOME HOUSING DE N/A
                  
(90) JOB CREATION AND COMMUNITY REV

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-2826339 		COMMUNITY DEV DE N/A
                  
(91) JP MORGAN CHASE LOW-INCOME HF LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4406946 		LOW INCOME HOUSING DE N/A
                  
(92) KMI INVESTMENT FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
56-1762616 		COMMUNITY DEV DE N/A
                  
(93) MARTHA'S TABLE INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-0776271 		COMMUNITY DEV DE N/A
                  
(94) MLI INVESTMENT FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-2554858 		LOW INCOME HOUSING DE NEFCI
  		RELATED -148 13,637   No   Yes   0.010 %
(95) MS CTR FUND I LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4860774 		LOW INCOME HOUSING IL MS FUND MANAGER LLC
  		RELATED -5 1,496,666   No   Yes    
(96) MS CTR FUND II LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0530821 		LOW INCOME HOUSING IL MS FUND MANAGER LLC
  		RELATED -6 57,988   No   Yes    
(97) MS NMSC EQUITY FUND LLC (MSNM

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-4107516 		COMMUNITY DEV DE N/A
                  
(98) MS SHARED INVESTMENT FUND I LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-1490797 		LOW INCOME HOUSING DE NEFCI
  		RELATED -1 13,727   No   Yes    
(99) MS SINGLE INVESTOR FUND I LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-1499871 		LOW INCOME HOUSING DE MS FUND MANAGER LLC
  		RELATED -3 63,469   No   Yes    
(100) MS SINGLE INVESTOR FUND II LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-0859804 		LOW INCOME HOUSING IL MS FUND MANAGER LLC
  		RELATED -4 1,494   No   Yes    
(101) MS SINGLE INVESTOR FUND III LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2458273 		LOW INCOME HOUSING IL MS FUND MANAGER LLC
  		RELATED -7 68,734   No   Yes    
(102) MS SINGLE INVESTOR FUND IV LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1790691 		LOW INCOME HOUSING DE MS FUND MANAGER LLC
  		RELATED -5 58,719   No   Yes    
(103) MS SINGLE INVESTOR FUND V LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0531589 		LOW INCOME HOUSING IL MS FUND MANAGER LLC
  		RELATED -18 27,887   No   Yes    
(104) MS SINGLE INVESTOR FUND VI LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4933699 		LOW INCOME HOUSING IL MS FUND MANAGER LLC
  		RELATED   3,034   No   Yes    
(105) NAHIF XVII - NEF LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-6061443 		LOW INCOME HOUSING DE N/A
                  
(106) NAHIF XX - NEF LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-1651241 		LOW INCOME HOUSING DE NEFCI
  		RELATED -130 134,248   No   Yes   0.010 %
(107) NATIONAL AFFORDABLE HOUSING FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-1177748 		LOW INCOME HOUSING DE NEFCI
  		RELATED 2,831 2,420   No   Yes   0.010 %
(108) NATIONAL CITY INVESTMENT FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
95-4893437 		LOW INCOME HOUSING DE N/A
                  
(109) NATIONAL EQUITY FUND 1996 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4094851 		LOW INCOME HOUSING DE N/A
                  
(110) NATIONAL EQUITY FUND 1996 SERIES II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4097771 		LOW INCOME HOUSING DE N/A
                  
(111) NATIONAL EQUITY FUND 1997 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4188807 		LOW INCOME HOUSING DE N/A
                  
(112) NATIONAL EQUITY FUND 1999 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4262821 		LOW INCOME HOUSING DE N/A
                  
(113) NATIONAL EQUITY FUND 1999 SERIES II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4284872 		LOW INCOME HOUSING DE N/A
                  
(114) NATIONAL EQUITY FUND 2000 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4373745 		LOW INCOME HOUSING DE N/A
                  
(115) NATIONAL EQUITY FUND 2001 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4437162 		LOW INCOME HOUSING DE N/A
                  
(116) NATIONAL EQUITY FUND 2002 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
75-3045298 		LOW INCOME HOUSING DE N/A
                  
(117) NATIONAL EQUITY FUND 2003 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0083344 		LOW INCOME HOUSING DE N/A
                  
(118) NATIONAL EQUITY FUND 2004 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-1909507 		LOW INCOME HOUSING DE N/A
                  
(119) NATIONAL EQUITY FUND 2005 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-3052057 		LOW INCOME HOUSING DE N/A
                  
(120) NATIONAL EQUITY FUND 2006 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-4587136 		LOW INCOME HOUSING DE N/A
                  
(121) NATIONAL EQUITY FUND 2006 SERIES II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-5575038 		LOW INCOME HOUSING DE N/A
                  
(122) NATIONAL EQUITY FUND 2007 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-8189381 		LOW INCOME HOUSING DE NEFCI
  		RELATED -13 3,403,402   No   Yes    
(123) NATIONAL EQUITY FUND 2007 SERIES II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-8864796 		LOW INCOME HOUSING DE NEFCI
  		RELATED -3 142,179 Yes     Yes    
(124) NATIONAL EQUITY FUND 2008 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-1775928 		LOW INCOME HOUSING DE NEFCI
  		RELATED -6 271,764   No   Yes    
(125) NATIONAL EQUITY FUND 2008 SERIES II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-2740220 		LOW INCOME HOUSING DE NEFCI
  		RELATED -358 23,771   No   Yes   0.010 %
(126) NATIONAL EQUITY FUND 2009 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-4818735 		LOW INCOME HOUSING DE NATIONAL EQUITY FUND 2
  		RELATED -449 18,497   No   Yes   0.010 %
(127) NATIONAL EQUITY FUND 2011 INV FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-2642927 		LOW INCOME HOUSING IL NEF 2011 FUND MANAGER
  		RELATED -366 8,854   No   Yes   0.010 %
(128) NATIONAL EQUITY FUND 2011 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3062097 		LOW INCOME HOUSING IL NATIONAL EQUITY FUND 2
  		RELATED -634 280,984   No   Yes   0.010 %
(129) NATIONAL EQUITY FUND 2012 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-0808241 		LOW INCOME HOUSING IL NEF 2012 FUND MANAGER
  		RELATED -356 388,762   No   Yes   0.010 %
(130) NATIONAL EQUITY FUND 2013 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-0937028 		LOW INCOME HOUSING IL NEF 2013 FUND MANAGER
  		RELATED -382 174,224   No   Yes   0.010 %
(131) NATIONAL EQUITY FUND 2014 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1735239 		LOW INCOME HOUSING IL NEF 2014 FUND MANAGER
  		RELATED -637 1,503,425   No   Yes   0.010 %
(132) NATIONAL EQUITY FUND 2017 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0532621 		LOW INCOME HOUSING IL NEF FUND MANAGER LLC
  		RELATED -974 1,158,954   No   Yes   0.010 %
(133) NATIONAL EQUITY FUND 2018 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-0825854 		LOW INCOME HOUSING IL NEF 2018 FUND MANAGER
  		RELATED -1,342 659,663   No   Yes   0.010 %
(134) NATIONAL EQUITY FUND 2019 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-2626080 		LOW INCOME HOUSING IL NEF 2019 FUND MANAGER
  		RELATED -16,693 8,687,020   No   Yes   4.560 %
(135) NEF 2018 TEXAS REGIONAL FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-0850442 		LOW INCOME HOUSING IL NEFCI
  		RELATED -65,641 529,004   No   Yes   4.440 %
(136) NEF AFFORD HOUS INVST FUND II

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-2395998 		LOW INCOME HOUSING DE NEFCI
  		RELATED -940 180,551   No   Yes   0.010 %
(137) NEF AFFORD HOUS INVST FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-0719219 		LOW INCOME HOUSING DE NEFCI
  		RELATED -1,061 131,056   No   Yes   0.010 %
(138) NEF AFFORDABLE HOUSING INV FUND III LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-1682803 		LOW INCOME HOUSING DE NEFCI
  		RELATED -300 38,309   No   Yes   0.010 %
(139) NEF CAPITAL ONE INVESTMENT FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-0843727 		LOW INCOME HOUSING IL NEFCI
  		RELATED -16 319,003   No   Yes    
(140) NEF CHICAGO WEST TOWN FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-4026337 		LOW INCOME HOUSING IL NEF 2017 REGIONAL FUND
  		RELATED -314 312,843   No   Yes   0.010 %
(141) NEF COMMUNITY INVESTMENT FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-1309458 		LOW INCOME HOUSING DE N/A
                  
(142) NEF COMMUNITY INVESTMENT FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4406954 		LOW INCOME HOUSING DE N/A
                  
(143) NEF COMMUNITY PRESERVATION FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1915931 		LOW INCOME HOUSING DE NEFCI
  		RELATED 3,789 103,695   No   Yes   0.010 %
(144) NEF COMPASS SHARED INVESTMENT I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0848864 		LOW INCOME HOUSING IL NEFCI
  		RELATED -808 -691   No   Yes   0.010 %
(145) NEF ENCANTO POINTE MIDDLE TIER FUND LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3343607 		LOW INCOME HOUSING IL NEFCI
  		RELATED 105 300   No   Yes   0.010 %
(146) NEF FIFTH THIRD OPPORTUNITY ZONE FUND I LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-2833161 		OPPORTUNITY ZONE IL NEF OPPORTUNITY FUND MANAGER LLC
  		RELATED       No   Yes   0.010 %
(147) NEF FIRST NIAGARA INVESTMENT FUND LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-2756618 		LOW INCOME HOUSING IL NEFCI
  		RELATED   111   No   Yes    
(148) NEF FLORIDA AFFORDABLE HOUSING FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-3036241 		LOW INCOME HOUSING IL NEF 2019 REGIONAL FUND MANAGER LLC
  		RELATED -3 587,567   No   Yes   0.010 %
(149) NEF FLORIDA AFFORDABLE HOUSING FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
82-5019383 		LOW INCOME HOUSING IL NEF 2018 REGIONAL FUND MANAGER LLC
  		RELATED -110 5,543   No   Yes   0.010 %
(150) NEF FRE AFFORDABLE HOUSING FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
37-1908305 		LOW INCOME HOUSING IL NEF INVESTMENT FUND MANAGER LLC
  		RELATED -30 4,325,817   No   Yes   0.010 %
(151) NEF INVESTMENT PARTNERS FUND I LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-0186285 		LOW INCOME HOUSING DE NEFCI
  		RELATED -589 9,117   No   Yes   0.010 %
(152) NEF INVESTMENT PARTNERS FUND II LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-2772231 		LOW INCOME HOUSING DE NEFCI
  		RELATED -32 81,573   No   Yes   0.010 %
(153) NEF INVESTMENT PARTNERS FUND III LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3343649 		LOW INCOME HOUSING IL NEFCI
  		RELATED -777 40,084   No   Yes   0.010 %
(154) NEF INVESTMENT PARTNERS FUND IV LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1686144 		LOW INCOME HOUSING IL NEFCI
  		RELATED -366 37,851   No   Yes   0.010 %
(155) NEF INVESTMENT PARTNERS FUND IX LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-4705575 		LOW INCOME HOUSING IL NEFCI
  		RELATED -1 922   No   Yes   0.010 %
(156) NEF INVESTMENT PARTNERS FUND V LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2504836 		LOW INCOME HOUSING IL NEFCI
  		RELATED -457 118,278   No   Yes   0.010 %
(157) NEF INVESTMENT PARTNERS FUND VI LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-3971141 		LOW INCOME HOUSING IL NEFCI
  		RELATED -381 132,365   No   Yes   0.010 %
(158) NEF INVESTMENT PARTNERS FUND VII LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
37-1804681 		LOW INCOME HOUSING IL NEFCI
  		RELATED -592 63,504   No   Yes   0.010 %
(159) NEF INVESTMENT PARTNERS FUND VIII LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-3476175 		LOW INCOME HOUSING IL NEFCI
  		RELATED -4 9,235   No   Yes   0.010 %
(160) NEF KEY SHARED INVESTMENT FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0877385 		LOW INCOME HOUSING IL NEF KEY FUND MANAGER LLC
  		RELATED -28 4,484   No   Yes   0.010 %
(161) NEF NATIONAL COMMUNITY INV FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-1167950 		LOW INCOME HOUSING DE NEFCI
  		RELATED -254 61,850   No   Yes   0.010 %
(162) NEF NATIONAL COMMUNITY INV FUND III LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-3939169 		LOW INCOME HOUSING IL NEFCI
  		RELATED -743 14,278   No   Yes   0.010 %
(163) NEF NEIGHBORDHOOD REVITALIZATION FUND I

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-0186322 		LOW INCOME HOUSING DE NEFCI
  		RELATED   1,123   No   Yes   0.010 %
(164) NEF NEIGHBORDHOOD REVITALIZATION FUND II

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-4033192 		LOW INCOME HOUSING DE NEF NEIGHBORHOOD REVITALIZATION FUND II MANAGER
  		RELATED   630   No   Yes   0.010 %
(165) NEF NEW YORK REGIONAL FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2608095 		LOW INCOME HOUSING IL NEF 2017 REGIONAL FUND
  		RELATED -3 779,437   No   Yes   0.010 %
(166) NEF NEW YORK SPECIAL TAX CREDIT 2009

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-0365747 		LOW INCOME HOUSING DE NEFCI
  		RELATED -342 2,479   No   Yes   0.010 %
(167) NEF NEW YORK SPECIAL TAX CREDIT 2016

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4843279 		LOW INCOME HOUSING IL NEFCI
  		RELATED -854 59,116   No   Yes   0.010 %
(168) NEF ORCHARD WESTCHASE MIDDLE TIER FD LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3343435 		LOW INCOME HOUSING IL NEFORCHARDWCMGR
  		RELATED   318   No   Yes   0.010 %
(169) NEF PRESERVATION FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0456396 		LOW INCOME HOUSING IL NEF PRESERVATION FUND
  		RELATED 192,192 4,235,365   No   Yes   2.000 %
(170) NEF PRESERVATION FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0995844 		LOW INCOME HOUSING DE NEF PRESERVATION FUND
  		RELATED -13,669 121,581   No   Yes   2.000 %
(171) NEF PRESERVATION MORTGAGE LOAN

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1850207 		LOW INCOME HOUSING DE NEF PRESERVATION FUND
  		RELATED 46,441 755,369   No   Yes   0.010 %
(172) NEF RBS CITIZENS INVESTMENT FU

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
90-1021547 		LOW INCOME HOUSING IL NEFCI
  		RELATED -95 409   No   Yes   0.010 %
(173) NEF REGIONAL FUND I - CHICAGO

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
80-0944868 		LOW INCOME HOUSING IL NEFCI
  		RELATED -223 533   No   Yes   0.010 %
(174) NEF REGIONAL FUND II - FLORIDA

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0421685 		LOW INCOME HOUSING IL NEFCI
  		RELATED -112 5,104   No   Yes   0.010 %
(175) NEF REGIONAL FUND IV - NORTHEAST LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-3926967 		LOW INCOME HOUSING IL NEFCI
  		RELATED -199 1,860,529   No   Yes   0.010 %
(176) NEF REGIONAL FUND IX - TEXAS LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
81-2699717 		LOW INCOME HOUSING IL NEF 2016 REGIONAL FUND
  		RELATED -110 46,862   No   Yes   0.010 %
(177) NEF REGIONAL FUND V - CHICAGO

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4792159 		LOW INCOME HOUSING IL NEF 2014 REGIONAL FUND
  		RELATED -408 85,251   No   Yes   0.010 %
(178) NEF REGIONAL FUND VII - CHICAGO

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2532766 		LOW INCOME HOUSING IL NEF 2015 REGIONAL FUND
  		RELATED -781 74,930   No   Yes   0.010 %
(179) NEF REGIONAL FUND VIII - CHICAGO

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
81-2158194 		LOW INCOME HOUSING IL NEF 2016 REGIONAL FUND
  		RELATED -1,008 442,055   No   Yes   0.010 %
(180) NEF SECONDARY II - CALIFORNIA

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
81-3689637 		LOW INCOME HOUSING IL NEF 2016 REGIONAL FUND
  		RELATED -365 3,476   No   Yes   0.010 %
(181) NEF STCC AFFORDABLE HOUSING FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4808360 		LOW INCOME HOUSING IL NEFCI
  		RELATED -248 10,503   No   Yes   0.010 %
(182) NEF WEBSTER LIHTC FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2534716 		LOW INCOME HOUSING DE NEFCI
  		RELATED -135 2,209   No   Yes   0.010 %
(183) NEW MARKETS COMM IMPACT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3302612 		COMMUNITY DEV DE N/A
                  
(184) NEW MARKETS INVESTMENT 100 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3884222 		COMMUNITY DEV DE N/A
                  
(185) NEW MARKETS INVESTMENT 101 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1807909 		COMMUNITY DEV DE N/A
                  
(186) NEW MARKETS INVESTMENT 102 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1826980 		COMMUNITY DEV DE N/A
                  
(187) NEW MARKETS INVESTMENT 103 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1840816 		COMMUNITY DEV DE N/A
                  
(188) NEW MARKETS INVESTMENT 104 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1862505 		COMMUNITY DEV DE N/A
                  
(189) NEW MARKETS INVESTMENT 105 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1868955 		COMMUNITY DEV DE N/A
                  
(190) NEW MARKETS INVESTMENT 107 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1909068 		COMMUNITY DEV DE N/A
                  
(191) NEW MARKETS INVESTMENT 108 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1933703 		COMMUNITY DEV DE N/A
                  
(192) NEW MARKETS INVESTMENT 109 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1991970 		COMMUNITY DEV DE N/A
                  
(193) NEW MARKETS INVESTMENT 110 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-2000196 		COMMUNITY DEV DE N/A
                  
(194) NEW MARKETS INVESTMENT 111 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-2018542 		COMMUNITY DEV DE N/A
                  
(195) NEW MARKETS INVESTMENT 113 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1425915 		COMMUNITY DEV DE N/A
                  
(196) NEW MARKETS INVESTMENT 115 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1444509 		COMMUNITY DEV DE N/A
                  
(197) NEW MARKETS INVESTMENT 116 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1462161 		COMMUNITY DEV DE N/A
                  
(198) NEW MARKETS INVESTMENT 117 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1478656 		COMMUNITY DEV DE N/A
                  
(199) NEW MARKETS INVESTMENT 118 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1495537 		COMMUNITY DEV DE N/A
                  
(200) NEW MARKETS INVESTMENT 119 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1510156 		COMMUNITY DEV DE N/A
                  
(201) NEW MARKETS INVESTMENT 120 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1528256 		COMMUNITY DEV DE N/A
                  
(202) NEW MARKETS INVESTMENT 121 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1545938 		COMMUNITY DEV DE N/A
                  
(203) NEW MARKETS INVESTMENT 122 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1558629 		COMMUNITY DEV DE N/A
                  
(204) NEW MARKETS INVESTMENT 123 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1574081 		COMMUNITY DEV DE N/A
                  
(205) NEW MARKETS INVESTMENT 124 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1587988 		COMMUNITY DEV DE N/A
                  
(206) NEW MARKETS INVESTMENT 125 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3129441 		COMMUNITY DEV DE N/A
                  
(207) NEW MARKETS INVESTMENT 126 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3142158 		COMMUNITY DEV DE N/A
                  
(208) NEW MARKETS INVESTMENT 127 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3162888 		COMMUNITY DEV DE N/A
                  
(209) NEW MARKETS INVESTMENT 128 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3177936 		COMMUNITY DEV DE N/A
                  
(210) NEW MARKETS INVESTMENT 129 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3188805 		COMMUNITY DEV DE N/A
                  
(211) NEW MARKETS INVESTMENT 130 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3205122 		COMMUNITY DEV DE N/A
                  
(212) NEW MARKETS INVESTMENT 131 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3218253 		COMMUNITY DEV DE N/A
                  
(213) NEW MARKETS INVESTMENT 132 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3233954 		COMMUNITY DEV DE N/A
                  
(214) NEW MARKETS INVESTMENT 133 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3263260 		COMMUNITY DEV DE N/A
                  
(215) NEW MARKETS INVESTMENT 134 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3275453 		COMMUNITY DEV DE N/A
                  
(216) NEW MARKETS INVESTMENT 135 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3294130 		COMMUNITY DEV DE N/A
                  
(217) NEW MARKETS INVESTMENT 61 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
26-3667884 		COMMUNITY DEV DE N/A
                  
(218) NEW MARKETS INVESTMENT 64 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
26-3668030 		COMMUNITY DEV DE N/A
                  
(219) NEW MARKETS INVESTMENT 72 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3971018 		COMMUNITY DEV DE N/A
                  
(220) NEW MARKETS INVESTMENT 75 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3971476 		COMMUNITY DEV DE N/A
                  
(221) NEW MARKETS INVESTMENT 76 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3971577 		COMMUNITY DEV DE N/A
                  
(222) NEW MARKETS INVESTMENT 77 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3970628 		COMMUNITY DEV DE N/A
                  
(223) NEW MARKETS INVESTMENT 78 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3980698 		COMMUNITY DEV DE N/A
                  
(224) NEW MARKETS INVESTMENT 79 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
45-3980767 		COMMUNITY DEV DE N/A
                  
(225) NEW MARKETS INVESTMENT 80 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-0669356 		COMMUNITY DEV DE N/A
                  
(226) NEW MARKETS INVESTMENT 81 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-0671920 		COMMUNITY DEV DE N/A
                  
(227) NEW MARKETS INVESTMENT 82 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-0682374 		COMMUNITY DEV DE N/A
                  
(228) NEW MARKETS INVESTMENT 83 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-0691987 		COMMUNITY DEV DE N/A
                  
(229) NEW MARKETS INVESTMENT 84 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-0704978 		COMMUNITY DEV DE N/A
                  
(230) NEW MARKETS INVESTMENT 85 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-0711358 		COMMUNITY DEV DE N/A
                  
(231) NEW MARKETS INVESTMENT 87 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-5312921 		COMMUNITY DEV DE N/A
                  
(232) NEW MARKETS INVESTMENT 88 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-5325114 		COMMUNITY DEV DE N/A
                  
(233) NEW MARKETS INVESTMENT 89 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-5341901 		COMMUNITY DEV DE N/A
                  
(234) NEW MARKETS INVESTMENT 90 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-5351645 		COMMUNITY DEV DE N/A
                  
(235) NEW MARKETS INVESTMENT 91 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-5364281 		COMMUNITY DEV DE N/A
                  
(236) NEW MARKETS INVESTMENT 92 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3783527 		COMMUNITY DEV DE N/A
                  
(237) NEW MARKETS INVESTMENT 93 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3791775 		COMMUNITY DEV DE N/A
                  
(238) NEW MARKETS INVESTMENT 94 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3808700 		COMMUNITY DEV DE N/A
                  
(239) NEW MARKETS INVESTMENT 95 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3819046 		COMMUNITY DEV DE N/A
                  
(240) NEW MARKETS INVESTMENT 97 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3850210 		COMMUNITY DEV DE N/A
                  
(241) NEW MARKETS INVESTMENT 98 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3858415 		COMMUNITY DEV DE N/A
                  
(242) NEW MARKETS INVESTMENT 99 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3871365 		COMMUNITY DEV DE N/A
                  
(243) NEW YORK EQUITY FUND 1989 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-3680405 		LOW INCOME HOUSING NY N/A
                  
(244) NEW YORK EQUITY FUND 1990 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-3744662 		LOW INCOME HOUSING NY N/A
                  
(245) NEW YORK EQUITY FUND 1993 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-3924008 		LOW INCOME HOUSING NY N/A
                  
(246) NEW YORK EQUITY FUND 1994 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-3970081 		LOW INCOME HOUSING NY N/A
                  
(247) NEW YORK EQUITY FUND 1995 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4033218 		LOW INCOME HOUSING NY N/A
                  
(248) NEW YORK EQUITY FUND 1995 SERIES II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4047569 		LOW INCOME HOUSING NY N/A
                  
(249) NEW YORK EQUITY FUND 2000 LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4187874 		LOW INCOME HOUSING NY N/A
                  
(250) NEW YORK EQUITY FUND 2000 SERIES II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4190655 		LOW INCOME HOUSING NY N/A
                  
(251) NEW YORK EQUITY FUND 2001 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4402575 		LOW INCOME HOUSING DE N/A
                  
(252) NEW YORK EQUITY FUND 2002 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
72-1536444 		LOW INCOME HOUSING DE N/A
                  
(253) NEW YORK EQUITY FUND 2003 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-0335458 		LOW INCOME HOUSING DE N/A
                  
(254) NEW YORK EQUITY FUND 2004 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
80-0132471 		LOW INCOME HOUSING DE N/A
                  
(255) NEW YORK EQUITY FUND 2005 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-3760899 		LOW INCOME HOUSING DE N/A
                  
(256) NEW YORK EQUITY FUND 2006 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-5705331 		LOW INCOME HOUSING DE N/A
                  
(257) NEW YORK EQUITY FUND 2008 LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-2775151 		LOW INCOME HOUSING DE N/A
                  
(258) NEWARK COMMUNITY INVESTMENT FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4424438 		LOW INCOME HOUSING DE N/A
                  
(259) NMCIF PHILADELPHIA PROJECT INV

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-1318422 		COMMUNITY DEV DE N/A
                  
(260) NORTHERN CALIFORNIA INVESTMENT FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-3077326 		LOW INCOME HOUSING DE NEFCI
  		RELATED -331 9,352   No   Yes   0.010 %
(261) NORTHERN CALIFORNIA INVESTMENT FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2511685 		LOW INCOME HOUSING IL NEFCI
  		RELATED -641 16,494   No   Yes   0.010 %
(262) NORTHERN CALIFORNIA INVESTMENT FUND III LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-0989214 		LOW INCOME HOUSING IL NEF INVESTMENT FUND MANAGER
  		RELATED -151 10,272   No   Yes   0.010 %
(263) NYC DISTRESSED MULTIFAMILY HOUSING FUND II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
81-4413884 		LOW AND MODERATE INCOME HOUSING DE NEFCI
  		RELATED 2,861 200,966   No     No 1.000 %
(264) NYC DISTRESSED MULTIFAMILY HSG I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
32-0417959 		LOW AND MODERATE INCOME HOUSING DE NEFCI
  		RELATED   276,718   No     No 2.030 %
(265) OAK HILLS INVESTMENT FUND LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-1193805 		COMMUNITY DEV DE N/A
                  
(266) ONE ECONOMY FUND I LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-2660021 		LOW INCOME HOUSING DE N/A
                  
(267) OWNERSHIP FOR CHANGE LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
84-3845666 		COMMUNITY DEV DE N/A
                  
(268) PIKE PLACE MARKETFRONT IVESTMENT

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1004871 		COMMUNITY DEV DE N/A
                  
(269) PRESERVATION INVESTMENT FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
30-0880537 		LOW INCOME HOUSING IL NEFCI
  		RELATED   13,845   No   Yes    
(270) PRESERVATION LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-5160740 		LOW INCOME HOUSING DE NEFCI
  		RELATED   8,600   No   Yes    
(271) ST JOHNS AVENUE ONE LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-0060542 		LOW INCOME HOUSING SC N/A
                  
(272) STANDARD FUND I LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-2066675 		LOW INCOME HOUSING DE NEFCI
  		RELATED -173 79,211   No     No 0.010 %
(273) STATE FARM GOOD NEIGHBOR FUND

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-1973833 		LOW INCOME HOUSING DE NEFCI
  		RELATED 94 1,320   No   Yes   0.010 %
(274) STERLING NATIONAL BANK AFFORDABLE HOUSING

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
35-2611296 		LOW INCOME HOUSING IL NEF FUND MANAGER
  		RELATED -138 18,299   No   Yes   0.010 %
(275) TD BANKNORTH HOUSING INVESTMENT

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-4417284 		LOW INCOME HOUSING DE NEFCI
  		RELATED -118 528,107   No   Yes   0.010 %
(276) THE LA QUINTA EQUITY FUND LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-2400960 		LOW INCOME HOUSING DE NEFCI
  		RELATED 460 4,015   No   Yes   0.010 %
(277) TIPSON ROAD APARTMENTS LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
51-0430350 		LOW INCOME HOUSING SC N/A
                  
(278) UNIVERSITY DALE APARTMENTS LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-1389113 		LOW INCOME HOUSING MN N/A
                  
(279) UPTOWN CENTER INVESTMENT FUND

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-4170438 		COMMUNITY DEV DE N/A
                  
(280) US AFFORDABLE HOUSING CIF II LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
20-4417160 		LOW INCOME HOUSING DE N/A
                  
(281) US AFFORDABLE HOUSING CIF LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
94-3414697 		LOW INCOME HOUSING DE N/A
                  
(282) WASHINGTON MUTUAL CIF LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4419044 		LOW INCOME HOUSING DE N/A
                  
(283) WFCIH INVESTMENT FUND I LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-2007684 		LOW INCOME HOUSING DE NEFCI
  		RELATED -5 13,936   No   Yes    
(284) WFCIH INVESTMENT FUND II LLC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-5558178 		LOW INCOME HOUSING DE NEFCI
  		RELATED -450 36,590   No   Yes   0.010 %
(285) WFCIH INVESTMENT FUND III LP

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
38-3968675 		LOW INCOME HOUSING IL NEFCI
  		RELATED -469 33,921   No   Yes   0.010 %
(286) WINTRUST COMMUNITY INVESTMENT

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-2440641 		LOW INCOME HOUSING DE NEFCI
  		RELATED -8 494   No   Yes   0.010 %
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) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) COMMUNITY DEVELOPMENT ADVOCATES - CHI INC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-2442712 		LOW INCOME HOUSING IL N/A
 C         No
(2) COMMUNITY DEVELOPMENT ADVOCATES CENTRAL

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-1793642 		LOW INCOME HOUSING IL N/A
 C         No
(3) COMMUNITY DEVELOPMENT ADVOCATES DALE INC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
45-2281616 		LOW INCOME HOUSING MN N/A
 C         No
(4) COMMUNITY DEVELOPMENT ADVOCATES RAD

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
61-1858829 		LOW INCOME HOUSING IL N/A
 C         No
(5) COMMUNITY DEVELOPMENT ADVOCATES SOUTH

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
26-0807437 		LOW INCOME HOUSING IL N/A
 C         No
(6) COMMUNITY DEVELOPMENT ADVOCATES TCG INC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
27-2082864 		LOW INCOME HOUSING IL N/A
 C         No
(7) COMMUNITY DEVELOPMENT ADVOCATES INC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4009754 		LOW INCOME HOUSING IL N/A
 C         No
(8) NEF ASSIGNMENT CORPORATION

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4326848 		LOW INCOME HOUSING IL N/A
 C         No
(9) NEF COMMUNITY CAPITAL INC

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4222908 		LOW INCOME HOUSING IL N/A
 C         No
(10) NEF DEVELOPMENT CORPORATION

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
83-0337773 		LOW INCOME HOUSING IL N/A
 C         No
(11) NEF INVESTMENT PARTNER

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
84-3771744 		LOW INCOME HOUSING DE N/A
 C         No
(12) NEF SUPPORT CORPORATION

10 S RIVERSIDE PLAZA STE 1700
CHICAGO,IL60606
36-4326845 		LOW INCOME HOUSING IL N/A
 C         No
(13) NEW MARKETS INVESTMENT 106 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-1890795 		COMMUNITY DEV. DE N/A
 C         No
(14) NEW MARKETS INVESTMENT 112 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
81-2035515 		COMMUNITY DEV. DE N/A
 C         No
(15) NEW MARKETS INVESTMENT 114 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
82-1429642 		COMMUNITY DEV. DE N/A
 C         No
(16) NEW MARKETS INVESTMENT 86 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
46-5303240 		COMMUNITY DEV. DE N/A
 C         No
(17) NEW MARKETS INVESTMENT 96 LLC

168 N CLINTON ST 4TH FLOOR
CHICAGO,IL60661
47-3829370 		COMMUNITY DEV. DE N/A
 C         No
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
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, or (iv) rent from a controlled entity .....................
1a
 
No
b Gift, grant, or capital contribution to related organization(s) ............................
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
 
No
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
No
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
 
No
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
Yes
 
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
Yes
 
o Sharing of paid employees with related organization(s) ............................
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses ............................
1p
Yes
 
q Reimbursement paid by related organization(s) for expenses ............................
1q
 
No
r Other transfer of cash or property to related organization(s) ............................
1r
 
No
s Other transfer of cash or property from related organization(s) ............................
1s
 
No
2
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 related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) NATIONAL EQUITY FUND INC

 B 15,000,000 FMV
(2) NATIONAL EQUITY FUND INC

 M 31,760,947 FMV




Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
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) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(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 V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. (see instructions).
Return Reference Explanation
Schedule R (Form 990) 2019

Additional Data


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