2015 Annual Report

Mission The Genesis Community Loan Fund provides innovative financing by solicit-ing investment loans from individuals, churches, corporations, and foundations and then re-lending the money at favor-able terms to nonprofit organizations to create affordable housing and commu-nity facilities throughout Maine.

The Genesis Fund helps some of Maine’s most vulnerable populations: single parents and their children, low-income working families, the elderly, homeless individuals and people with disabilities. The Genesis Fund provides professional technical assistance to nonprofit organizations across the state by helping them with organizational development, project development and access to funding to support their work.

The Genesis Fund is proud to be a Certified Community Development Financial Institution.

Learn more www.genesisfund.org Like us on Facebook/GenesisFund

Genesis Community Loan Fund is an equal opportunity organization.

“Helping Maine families thrive by providing the financing Maine mobile home parks need to become cooperatively owned.

Being able to call Brunswick Bay Cooperative our home brings us great pride. We are able to pull together as a community to make things happen! This community—our neighbors—have become more like family to us and our children, it’s a great thing!

Dawn Willett-Mitchell Officer of the Board of Directors for Brunswick Bay Mobile Home Cooperative, Intern for NEROC, President of Resident-Owned Neighborhood Association of Maine, Stay-at-home mom

A year of growth and change!

• The Genesis Fund reached close to $14 million in total assets.

• To better serve our statewide part-ners, The Genesis Fund purchased a building in Brunswick and began renovations.

• Executive Director Bill Floyd joined the New England Community De-velopment Advisory Council for the Federal Reserve Bank of Boston. This council works to promote the effec-tive use of community development resources in New England.

•Deputy Director Liza Fleming-Ives completed Citi Leadership Program for Opportunity Finance.

• The Genesis Fund received our first Aeris rating—AA+3. This rating indicates that the Genesis Fund has a clear alignment of mission and strate-gies, is an effective leader of policy change and has satisfactory financial strength.

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“I’m excited by the growth we’ve been experiencing, not only in size but in reach. We’re working from North Ha-ven to Farmington to the County. Our partners have helped us grow at an an-nual rate of 18% during the past five years, and our move to Brunswick will enable us to serve even more commu-nities across Maine.

Bill Floyd Executive Director

After six years on the board and now as board president, I remain impressed with how incredibly organized, focused, and dedicated the staff is. I am proud of all the milestones we’ve accomplished since I’ve been on the board—doubling our total assets, increasing our impact throughout Maine, and receiving a stel-lar rating from Aeris. The Genesis Fund’s reputation for collaboration, innovation, and effectiveness is well deserved and I am proud to be a part of it.

Erin Cooperrider Board President

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Technical Assistance

971.5 hours of technical assistance to 20 organizations

15,778.50 hours to 215 organizations since 1992

Bangor Housing AuthorityThe Center for Wisdom’s WomenCommunity Partners, Inc.Cranberry Isles Realty TrustFour Directions

Development CorporationGrey Stone Mobile

Home CooperativeHabitat for Humanity/

7 Rivers MaineHome StartIsle au Haut Community

Development Corp.

Islesboro Affordable PropertyKnox County Homeless CoalitionMedomak Mobile Home CooperativeMobius, Inc.North Haven Sustainable HousingPenobscot NationRichmond Elder Care CoalitionSt. Andre Home, Inc.Tree Street Youth, Inc.Western Maine Community ActionYork County Shelter Programs, Inc.

Technical Assistance and Lending from the Genesis Fund helped Tree Street Youth create a forever home in downtown Lewiston.

Lewiston $400,000 to Tree Street Youth for the acquisition and renovation of their existing leased facility.

Brunswick $110,000 to Habitat for Humanity 7 Rivers Maine for the con-struction of four new affordable homes.

Bangor $100,000 to Bangor Hous-ing Development Corp. for the creation of 24 units of affordable apartments for very low income and previously home-less families.

Damariscotta $264,758 to Mobius, Inc. for the purchase of a building to house a new program.

Veazie $5,000 to Grey Stone Mobile Home Cooperative for the repair of their failing sewer system.

Waldoboro $5,000 to Medomak Mobile Home Cooperative for infrastruc-ture repair to continue expansion.

The Genesis Fund helped six Maine non-profits receive over $884,750 in grant funds.

Technical Assistance Impacts Maine Communities

Greystone Mobile Home Cooperative receives a grant to fix aging sewer system and protect wet-lands in Veazie. Thank you Machias Savings!

When Mobius, Inc., a nonprofit serving people with disabilities in Damariscotta, needed additional space to house a new program, the Genesis Fund helped them receive a grant to buy our existing facility. Not only did this help Mobius expand, it gave the Genesis Fund the opportunity to acquire our new office in Brunswick to better serve our statewide partners. It’s the type of innovative and collaborative solution the Genesis Fund is known for. 3

My grandmother, Elsie Morrison, lived her entire life on North Haven. It wasn’t until she was 92 that she truly needed assistance with the activities of daily life. With no easy option to maintain her home and keep her safe, our family made the difficult decision to sell the house she lived in for over 60 years and move her to an independent living facility on the mainland.

Heidi Small

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Innovative and Collaborative Lending creates maximum impact

The Genesis Fund’s technical assistance is helping North Haven create the affordable, safe housing people like Elsie need to stay near their loved ones.

Technical Assistance Results for Maine people

Helping Maine’s elders stay in the communities they have always called home.

The Genesis Fund’s work to create quality, affordable housing for Maine’s elders is helping people statewide— from year round island communities to seniors in the most remote areas of northern Maine. Collaborations with Four Directions Development Cor-poration, Southern Harbor Eldercare Services and Island Commons will result in the safe, energy efficient and affordable housing Maine seniors need to stay in their community.

$2,648,631 in loans to 10 Maine nonprofits

$28,415,157 in loans to 197 Maine nonprofits since 1992

$11,397,676 leveraged for the benefit of Maine Communities

$171,037,429 since 1992

The Genesis Fund successfully leverages resources with its fi-nancing playing an important role in filling gaps for afford-able housing and community facilities projects.

Aeris Ratings Report*

Habitat for Humanity Home Loan Portfolio

Work Force and Family Affordable Housing

Nonprofit Facilities

Mobile Home Cooperative

Supportive Housing and Services for People with Disabilities

Community Development Affordable Housing for Elders

Fiscal Year End 2010 2011 2012 2013 2014 Q3 2015

$10,000,000

$9,000,000

$8,000,000

$7,000,000

$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0

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Affordable Housing Helping Maine people get the safe, stable, affordable housing they need

South Portland Housing Development Corporation South Portland $100,000 Preservation Loan To preserve 10 units of affordable rental housing for handicapped seniors.

Biddeford Housing Authority Biddeford $300,000 Acquisition Loan To create 15 units of new housing for seniors with a community center.

H.O.M.E., Inc. East Orland $50,000 Acquisition Loan To purchase a single family home to rent to a very-low income family working toward credit repair.

Deer Ridge Mobile Home Cooperative Augusta $61,000 Acquisition Loan To park residents to purchase their mobile home park and convert it to cooperative ownership.

212 units of affordable housing created and/or retained.

Community Development Helping Maine Communities thrive

Auburn Housing Development Corporation Auburn $560,000 Acquisition Loan To purchase a downtown Auburn site to create a mixed-use development includ-ing commercial space and 30 units of mixed-income housing.

Mayo Mill Holdings, Inc Dover-Foxcroft $504,000 Rehabilitation Loan To rehabilitate the Mayo Mill complex into a mixed- use development including affordable housing for seniors, commer-cial space and the generation of renew-able energy.

LOANs

Maine’s Mobile Home Cooperatives gather in Jefferson for skill building sessions – helping create stronger leaders and sustain their communities.6

Working Capital Helping sustain Maine nonprofits

Four Directions Development Corporation Orono $250,000 Working Capital Loan To be dedicated as lending capital for mortgages and home improvement loans to benefit members of Maine’s native tribes.

York County Shelter Progams, Inc. Alfred $504,000 Working Capital Loan To assess the feasibility of purchasing and renovating their main campus and to cover general operating expenses.

Community Facilities Helping Maine nonprofits serve our neighbors

Tree Street Youth Lewiston $350,000 Facilities Loan To purchase and renovate their building and expand programs for low-income and immigrant youth and create a per-manent home for the organization.

More than 145 at-risk kids helped.

Innovative Lending for Maximum Impact Helping build affordable housing capacity

Habitat for Humanity of Greater Portland Portland $223,631 Portfolio Purchase To purchase ten home mortgages to pro-vide the capital needed to increase the number of homes they build each year.

Statewide ImpactThe Genesis Fund helps Maine people wherever the need is the greatest. From Maine’s northern-most counties, cities and rural areas to year round island communities, the Genesis Fund creates statewide impact.

Affordable housing for Maine’s rural communities Celena and Joshua Greenier, Mapleton

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Donors support the Genesis Fund!Your donation helps create tangible, positive change for Maine people and communities.

Here’s How:Your donation makes it possible for the Genesis Fund to provide low- or no-cost technical assistance to Maine nonprofits developing affordable housing or much needed community facilities.

Your donation will bring in even more funds to Maine as donations are often matched by foundations and govern-ment grants.

Last year, donations helped us lever-age over $11.3 million for the benefit of Maine families.

For more than 23 years, the Genesis Fund has provided high quality technical assistance that has resulted in affordable housing, health care centers, child care centers and projects that help Maine communities thrive.

The Genesis Fund helps create permanent, tangible change for Maine people.

In partnership with Four Directions Develop-ment Corporation, a Native American Com-munity Development Financial Institution, the Genesis Fund is addressing the housing needs of Maine’s tribal communities. Many tribal mem-bers reside in the remote northern and eastern parts of the state, Maine’s most economically challenged areas. This collaboration will help tribal communities create, preserve and sustain appropriate housing options allowing them to remain vibrant places to live.

Awendela Dana Indian Island

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Thank you Donors!

Individual DonorsAnonymous (4)Thomas ArchambaultKyle and Stephen AtwellBruce and Karen

BachelderSally BeaudetteBarbara M. BensenGary and Rosie BensenRoger K. BerleTeresa and Richard

BermanBill and Lucinda BlissBeth BoeppleKatey BranchEmily ChaseErin Cooperrider and

Michael MayneThomas A. DavisBrian and Meg DietzJames DonovanRobert and Nancy

Earnest Giving FundDavid and Judith FalkKaren and Matt FillerLiza Fleming-Ives and

Steven HufnagelBill and Kathy FloydJohn and Pauline

GallagherAnne Gass and Richard

LeavittJames Robertson GastonRobert and Karen GeorgeArch GilliesRhonda and Tom GioiaPeter and Hariette GriffinKeith HansenMary S. Hart*James Hatch and Patricia

JenningsKen and Dede Heath

Charlie and Suzanne Hedrick

Helen HemmingerMichael Herz and

Kate JosephsJohn and Theresa HodgeDeryl HoltElizabeth HoweJohn and Jinx HufnagelJoseph and Bonnie

HughesJane and Glenn IrishPeter Ives and

Jenny FlemingRobert and Phyllis IvesAlex JaegermanCaroline Janover*Mark and Pam JohnstonSamuel and Louisa

KaymenDebora Keller and

Doug BertlesmanKen and Katharina

Keoughan*John and Cornelia

KittredgeDavid LakariCarolyn LandauDavid LawlorJonathan LeVeen and

Mary McPhersonKaren MacDonaldAnn MacLaughlinBill and Paige MangumCarol Mantell*T.J. MartzialMartha MasonEdith M. McCormickTim and Gina McMachenFrazier and Susan MeadeJennifer MeadePeter and Leslie Merrill

Stephen MillerPenelope MoodeyMichael Myatt and

Sarah ThibaultNelson Family FundRichard and

Ann NemrowMaria and Nick NorthcottDavid and Julie PeaseRobert Petti and

Daisy GreeneRandy Phelps and

Pamela DaleyMary W. Phillips*Pierson Family TrustCharlie PingreeHannah Pingree and

Jason MannMarianne PinkhamCaroline Pryor and

David MacDonaldGregg Raymond and

Jamien JacobsDana and Martha RobesTom RogersAngela and Andy RussScott Schnapp and

Heidi AlmyCito and Cynthia SelingerBill and Karen ShanahanDon and Susan SharlandGeorge and Anna ShawBryan ShumwayAnn SlocumEdna and Roger SmithWilliam and Patricia

SpockStephanie and Wendell

StephensonMichael and Mary

StevensSkip and Lucy Stinson*

Grace Stone**Sheila and Rob SwansonMary Terry and

Derek RichnerJonathan ThomasDaniel and Arden

ThompsonJean TuckerKimberly and Scott

TwitchellPriscilla R. UlinKatrina Van Dusen and

John GleasonJulie and Larry WagonerAllan Walker*Lisa WallaceJudith WarrenMariellen Whelan*Daria and Ed WhiteRichard and Bridget

WhitingJohn WilsonGodfrey WoodIan YaffeRachel and Jay Zoller

Institutional DonorsAmazonSmileAnew Development, LLCC&C Realty ManagementCamden Affordable

Housing OrganizationCredere Associates LLCDiversified

CommunicationsElizabeth Ann Leach

Charitable TrustH.M. Payson & CompanyMaineShareMerlin Fund of the

Maine Community

FoundationNickerson & O’Day, Inc.Northern New England

Housing Investment Fund

Renewal Housing Associates, LLC

St. Andrew’s Episcopal Church, Newcastle

The Caleb FoundationThe Free Press, Inc.The Reny Charitable

FoundationWestbrook HousingBill and Patty

Zimmerman Fund at the Maine Community Foundation

Bank DonorsBangor Savings Bank

FoundationMachias Savings BankNorway Savings BankPeople’s United BankSanford Institution for

Savings

* In memory of Jane Kennedy

** In honor of Beth McPherson

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Our investors help keep Maine communities vibrant for all ages. Together, we are creating the community centers we all need— to provide health and child care, to house programs for the oldest, youngest and newest members of our community, and to gather as a community. Together, we are creating the affordable housing people need to be a part of the community they love. Our investors are true community builders— please join us!

Thank You Investors!Individuals Anonymous (9)Holly AntoliniJames and Darcy AustinClients of The Sustainability GroupClients of Trillium Asset ManagementRobert and Nancy EarnestAnne Gass and Richard LeavittRobert and Karen GeorgeAndrew GorrillElizabeth HoweJohn KaminskiAnne KennedyElizabeth McPherson and Paul KandoCaroline Pryor and David MacDonaldJean ParkerMartha and Stephen PorterCathy RamsdellGregg Raymond and Jamien JacobsGeorge and Anna ShawDenise Soucy and Ned SteinbergerJennifer Southard and Ed SuslovicStephanie and Wendell StephensonRobert and Andrea SummersJulie TamlerJean TuckerMark Ward and Shannon Carr

BanksAndroscoggin Savings BankBangor Savings BankBank of AmericaBar Harbor Bank & TrustBath Savings InstitutionBiddeford Savings BankCamden National BankDeutsche Bank Americas FoundationFranklin Savings BankGorham Savings BankKennebec Savings BankMachias Savings BankNorway Savings Bank

People’s United BankSaco & Biddeford Savings InstitutionSanford Institution For SavingsTD BankThe First, N.A.

Faith CommunititiesAdrian Dominican SistersBasilian Fathers of TorontoEpiscopal Diocese of MaineMercy Partnership FundSt. Andrew’s Episcopal ChurchSt. Paul’s Episcopal ChurchSt. Philip’s Episcopal Church

OtherAtlantic Charitable FundFreeport Housing Trust, Inc.Maine Women’s FundNorthern New England Housing

Investment FundUSDA Rural Development

The Genesis Fund has a well-diversified group of more than 70 investors, with strong support from banks, individuals, and faith institutions. Many investors have been long standing supporters with a history of increasing investments.

Aeris Ratings Report*

Our investors help Maine people today and tomorrow!Our investors sustain the future of Maine communities and help secure the future of Maine people.

An investment loan to the Genesis Fund helps build our pool of lending capital while you earn interest. Your investment will help to:•Create affordable housing for Maine

people statewide. • Sustain Maine communities by

creating the facilities we all need like health and child care centers.

The Genesis Fund is proud of our 23- year history of 100% repayment to our investors.

Please Join us today!• Interest rates up to 3% for

individual investors• Interest rates up to 2% for

institutions or organizations•Minimum investment $1,000•Minimum term 1 year

Call us today to learn more: 207-844-2035

Jane Irish 207-844-2035 or jane@genesisfund.org

Investments to the Genesis Fund are made in the form of unsecured loans.

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Statement of Financial Position

Statement of Activity

ASSETS Cash and Equivalents Notes Receivable Investments Accounts Receivable Net Fixed AssetsTotal Assets

LIABILITIES Notes Payable Other Payable Long Term LiabilitiesTotal Liabilities

NET ASSETS UnrestrictedTotal Net Assets

Total Liabilities and Net Assets

OPERATING REVENUES Contributions and Grants Interest on Loans Interest on Investments Technical Assistance Fees Loan Origination Fees Investment Income Rental Income Miscellaneous IncomeTotal Operating Revenues

OPERATING EXPENSES Program Administration and Management FundraisingTotal Operating Expenses

Change in Net Assets from Operations

March 31, 2015$3,333,906

9,352,438547,245

1304666,255

$13,901,148

$3,063,658157,647

7,745,923$10,967,228

2,933,920$2,933,920

$13,901,148

March 31, 2014$3,666,502

8,190,055500

0217,989

$12,075,046

$2,799,259130,121

6,115,972$9,045,352

3,029,694$3,029,694

$12,075,046

FY 2015 FY 2014

$83,251534,789

1,46531,560

24,0857,9873,600

0$686,737

633,834119,72428,953

$782,511

($95,774)

$122,822496,873

2,66021,83014,1336,5463,3003,104

$671,268

580,310109,479

25,760$715,549

($44,281)

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AA IMPACT PERFORMANCE RATING

AAA (best) to B. A CDFI in this group has clear align-ment of mission, strategies, activities and data that guides its programs and planning. It accurately tracks appropri-ate output data that indicate that it is using its resources effectively to benefit its target populations or communities in line with its mission. The CDFI uses its data on an ongoing basis to adjust strategies and activities in accordance with its desired impact. It may track a limited number of impact indicators as well, but impact data tracking may not be rigorous or consistent.

+ POLICY PLUS Indicated by a “+” Policy change is an integral part

of this CDFI’s strategies. The CDFI leads initiatives to change government policy to benefit the community develop-ment finance industry or disadvantaged people and communities. The CDFI can provide evidence of its leadership role in recent policy changes that produced benefits beyond additional resources for the CDFI itself, and management can clearly articulate the CDFI’s leadership role in current policy activities.

3 FINANCIAL STRENGTH & PERFORMANCE RATING 1 (best) to 5. 3 and above are

financially sound, while 4–5 are financially vulnerable. The current financial strength and recent performance of this CDFI is satisfactory. It exhibits satisfactory financial strength, performance, and risk management practices relative to its current situation. It is stable but less capable of withstanding fluctuations in its operating environment than a CDFI rated 1 or 2. Generally, most FSP scores for this CDFI are 2s and 3s, although the CDFI may have received a 4.

Aeris quotes throughout this report are taken from Aeris Ratings Report, issued June 2015. The full report can be pur-chased at www.aerisinsight.com.

AA + 3

We’ve moved!

In order to better serve our partners statewide, the Genesis Fund relocated our offices to Brunswick. We are grateful to our Lincoln County founders who started this amazing journey and are proud of all that’s been accom-plished in the past 23 years.

Please stop in and visit us! 22 Lincoln Street, Brunswick

Photo CreditsJohanna Anderson, Four Directions

Development Corp. Erin Little PhotographyJason Mann Kelly MarshallJessica Pooley, Resident Owned

Neighborhoods Association of MaineTree Street YouthBill Trevaskis,

Waterman’s Community Center

Board of DirectorsFiscal Year 2015Erin Cooperrider, President

Community Housing of MaineGreg Payne, Vice President

Avesta HousingJulie Wagoner, Treasurer

Bath Savings InstitutionBrian Dietz, Secretary

Portland Financial Planning GroupElizabeth A. Boepple

Lambert CoffinDeb Keller

Bath HousingKaren MacDonald

Port Resources, Inc. Tim McMachen

People’s United BankMike Myatt

Bangor Housing AuthorityRandy Phelps

Investor/Community MemberKim Twitchell

NBT Bank

Welcome incoming Board MembersFiscal Year, 2016Tim Boulette

Murray, Plumb & MurrayBill Shanahan

No. New England Housing Investment Fund

StaffWilliam Floyd, Executive DirectorElizabeth Fleming-Ives, Deputy DirectorJane Irish, Development DirectorMary Terry, Program OfficerMaria Northcott, Office ManagerEmily Chase, Accounting Coordinator

22 Lincoln StBrunswick, Maine 04011

www.genesisfund.org www.facebook.com/GenesisFund

Presort StandardU.S. Postage

PAIDFarmington, MEPermit No. 30

Genesis Fund Staff, May 2015