Investors A Message from NCCLF ’s President and Chair“The future depends on what we do in the present.” Gandhi’s seemingly simple observation is surprisingly useful to all of us who work for a better future for low-income people and communities. More than a mere statement of fact, it actually presents a challenge: if we want a better future, what are we willing to do right now to make it happen?

This Annual Report describes NCCLF’s answer to that challenge; how we provide financing and financial expertise to the community-based organizations that are the true change agents in distressed communities.

All you need to know about what NCCLF does in service to the future is right here in this Annual Report. We rely on our dedicated investors - banks, religious communities, philanthropic foundations, and hundreds of individuals - to lend us the capital so often unavailable in poor communities. We put those investments to work to build affordable housing, support and expand health care, and create new opportunities through job training, child care, and charter schools. The community services we support and strengthen enable low-income people to grow, study and learn, find good jobs, and care for their families. What we do in the present restores dignity, rebuilds neighborhoods, and renews and revitalizes entire communities. We at NCCLF are proud of our work, and are honored to work with our nonprofit clients and community partners who share our commitment to economic and social justice. Without these collaborative partners, “practical visionaries” as we call them, NCCLF could not do its work. With gratitude and admiration for their unswerving commitment to a better future, we dedicate this report to them.

Mary A. Rogier Kirke Wilson

President Chair, Board of Directors

Northern California Community Loan Fund2011 Annual ReportIndividuals

Anonymous Ralph Alpert Robert Bacon Holly Badgley and Peter SternJane Baker Barbara Fletcher Barbour Peter Barnes Ted and Mary Barone Alvin H. Baum, Jr.Jesse BeanBenjamin Bear and Nancy Noah-Bear Laurie BernsteinIris BiblowitzRichard Billington and Dorrit Billman Joani Blank Elizabeth BoardmanPeter Brastow William and Victoria Bruckner Richard Bernius - Busgang TrustErin CallahanKimo CampbellCarol Cavanaugh Chechanover Family TrustCory Cherk and Chris Davidson Joanie Ciardelli Mary Ann Cobb Gabriel D. Speyer Cordes Family Foundation Cotton Family Trust Linda Dallin and Paul Sussman Judith Dambowic S. W. Dittenhofer IIIPaul Drescher and Roberta FriedmanMarta Drury James R. EitelCaroline L. EvertsMichael S. FalkSusan Frank Alexandra Freidus David FriedmanMax Meyer Friedman Meryl Meyer Friedman Mary Ford and Robert Lewis Richard Galloway and Zoia HornElspeth Gilmore Marty Glick and Judy Zollman Lenore GoldmanGray Family Trust

Deborah Gray Michael and Claire Gray Patricia GoPaul Marion E. Greene Trust Ilene L. Gusfield Hadley Dale Hall and L. Warde LaidmanMike Hannigan Holly Hayes and Carl SternAlice Henry Adam HochschildLisa Honig Glenda HopeMartha Hyde David Jaber Lona Jupiter Karuna Trust Gunther Kay Non Marital Trust Paul Kivel and Mary LuckeyJoseph Kresse Suzanne LaFetraAlan B. Lans Karen Larsen Jennifer LeedsStephen L. LeedsMyra Levy and Charlie Varon Richard D. Lewis, Jr. Conny Lindley David Lingren and Ilana Schatz Oliver H.P. Lloyd Longinotti Revocable Living Trust Sara C. Lovell Shan MagnusonStephen MatchettArlene Mayerson Danielle McArthur and Michael MurrayAdair McClatchy Chris McCluneyRobert C. McConnell Pamela MerchantKate Meyer Paulette MeyerMark Morris and Karen Weil Phyllis Murphey Suse Nakata Zaitlin-Nienberg Family Living Trust Susan Lynn and Sorca M. O’ConnorHenry ObermayerDaniel Van Olst Jeffrey A. Ordower Wendy Oser Alma En Paz Hanna Pitkin Elizabeth Jane Rankow Trust Rhine Living Trust Charlotte Rieger

Bond Rifas TrustElisabeth Hardman Rix Joan and Bill RobbinsHirt-Rodman Family Trust Mary A. RogierWilliam RothMeredith SabiniKirby Sack Peter S. Samis Mark SchackMarie Schutz Sherri SchultzJane Segal Susan Severin Aaron/Sherman Trust Alissa Shethar Patricia SilverSally Smyth William StewartJanet StoneDolores Taller Wendy TanowitzFrances TaylorBonnie Thomas Marianna Tubman Alfred Twu Elia and Halimah Van TuylSusan Vickers, RSM Volkmann Family Limited Partnership Albert Wald Léonie WalkerSandy Weil James and Janet Wenninger Robert Winant Molly and Dennis Wuthrich Richard Yurman BanksBBVA Compass Bank of America Bank of the West Borel Private Bank & Trust Co. Charles Schwab Bank Compass Bank First RepublicManufacturers BankJ. P. Morgan Chase Bank, N.A. Northern Trust Company Presidio Bank U.S. Bancorp Community Development CorporationUnited Commercial BankUnited Labor Bank, FsbWells Fargo Community Development CorporationDonors

Organizations$50,000 and Up Bank of America Annie E. Casey FoundationCiti The Hearst FoundationsCommunity Development Financial Institution Fund $1000 - $49,000 AnonymousArts SymposiumBank of the WestBank Leumi Borel Private Bank and TrustCatholic Healthcare WestJ. P. Morgan Chase & Co.Comerica BankEquity Community BuildersFiredoll FoundationFirst Republic BankGreene Radovsky Maloney Share William and Flora Hewlett FoundationLow Income Investment FundMechanics BankNorthern Trust, NASan Francisco FoundationSCM Advisors LLCSilicon Valley Bank Sisters of St. Joseph of Orange State Street FoundationSterling BankU.S. Bank Union Bank Wells Fargo Bank Wells Fargo of California Insurance Services, Inc.

Up to $999BRIDGE Housing Corporation California Economic Development Lending InitiativeFranklin Templeton Bank Tenderloin Neighborhood Development Corporation Individuals$5,000 and Up Holly Badgley and Peter SternKimo Campbell (Deceased)S.W. Dittenhofer IIITom Meyer and Julie Stevenson Gertrude ReaganPatricia Wolfe $1000 - $4,900AnonymousClara BasileCraig Burke and Molly LazarusSusan ChamberlinLaurie CohenDavid A. Friedman Adrienne Hirt and Jeffrey RodmanMichael H. KieschnickMarineau Family Foundation Paulette Jean Meyer Sarah Nelson and Mary A. RogierPamela Merchant and Kirby Sack Elisabeth Hardman Rix Susan Vickers, RSM

$500 - $999Anonymous Elizabeth Boardman Jean DriscollSamuel HaleHolly Hayes and Carl SternAnn M. HatchSteve OliverElizabeth PigfordMargaret J. Stone Kirke and Anne Wilson Up to $499AnonymousGuy Baldwin Angela Brasov Alvin H. Baum, Jr.Ann F. CameronLisa ChenJohn CottonRegina DavisMargaret Diener, OPGurpal DosanjhDavid Leland Fair and Vickie Scott Grove Joseph FongEloise FoxMargo GeorgeHadley Dale Hall John Harrington Alfred HellerJim Illig Paul KivelDavid KrimmBill and Maria Lambert Olson LeeDavid Lingren and Ilana SchatzLarry Litvak

WE ARE GRATEFUL FOR THE COMMITMENT OF OUR INVESTORS AND FINANCIAL PARTNERS

WE ARE GRATEFUL FOR THE GENEROSITY OF OUR DONORS

Robert T. Matthew, Jr. Liana MortazaviDanielle McArthur and Michael MurrayRobert C. McConnell David A. Okazaki Jamie Osborn and Monica L’EsperanceGlenda Pawsey Patrick Reed William Roth Jack Sawyer Kimberly Scala and Akaya WindwoodMarie SchutzSherry SimmonsPaul SussmanDolores Taller Lydia Tan Kenneth S. TaymorKaren WeilSandy WeilMark WeismanIlene Weinreb Anna Yee

In-Kind DonorsCooley Godward Kronish, LLP Dechert, LLP Dreamhost Federal Reserve Bank of San Francisco Greene Radovsky Maloney Share & Hennigh, LLP Google Microsoft Morrison & Foerster Northern Trust, NA Orrick, Herrington & Sutcliffe, LLP Salesforce.com Foundation Sherman & Sterling

FoundationsPeople’s Life Fund Calvert Social Investment FoundationFriedman Family Foundation Erich and Hannah Sachs FoundationWallace Alexander Gerbode FoundationAnnie E. Casey Foundation S.H. Cowell Foundation The San Francisco FoundationThe California Endowment

Religious InstitutionsSisters of Charity of the Blessed Virgin Mary Marist Society, Inc. California Province, Society of JesusDignity HealthSisters of St. Joseph of OrangeSinsinawa Dominicans Sisters of the Holy Names of Jesus and Mary, Province of CaliforniaSt. John’s Presbyterian Church-BerkeleyCongregation of the Sisters of Charity of the Incarnate WordSister of Mercy of the Americas West St. Joseph Health SystemCatholic Health Initiatives St. Ignatius ChurchMercy Investment Services, Inc.Trinity Health CorporationMarianist Province of the United StatesReligious Communities Investment FundSan Francisco Network Ministries

Nonprofits and Government AgenciesCommunity Development Financial Institutions FundCommunity Economics, Inc.Stiles Hall Financing PartnersDignity HealthEnterprise Community Loan FundLocal Initiatives Support CorporationLow Income Investment FundNCB Capital Impact

New Market Tax Credit PartnersClearinghouse CDFI J. P. Morgan Chase Bank, N.A. National Development CouncilNonprofit Finance FundSan Francisco Community Investment Fund U.S. Bank

SOCIAl IMPACT: BRINGING New CAPITAl TO COMMuNITIeS IN NeeD

All photos on this page: Roy Manzaneres

Mary A. RogierPresident

Jonathan AustinReal Estate Consultant

Guy BaldwinBusiness Systems Analyst

Leiasa BeckhamReal Estate Consultant

Lori CampbellFinancial Management Consultant

Ross CulverwellDirector of Lending

Teresa DavisConsulting Program Analyst

Shobna Dhewant Senior Loan Office

Kelly EhrenfeldLoan Associate

Kavita GobburiLoan Officer

Maureen DeCosteDevelopment/Marketing Associate

Elizabeth BoardmanCommunity Activist Ann F. CameronSenior Vice President/Banking ManagerNorthern Trust Bank Regina Davis, Executive DirectorSan Francisco Housing Development Corp.

Grayton HuangSenior Accountant

Joanne LeeDirector of Financial Consulting and Program Development

Eddy Lopez Jr.Executive Assistant

Cristian MartinezAdministrative Coordinator

Janna ManciniDevelopment Associate

Eric FoleyLoan and Compliance Associate

Thomas Collishaw (Chair) Vice President, Director of DevelopmentSelf-Help Enterprises

John Chan, Vice President, US Bank

Arthur Dyson, Architect, AIA, IAA

Gabriela Mello, Community, Relations Officer, Citi Bank

Camille Pannu, Staff AttorneyCenter on Race, Poverty & the Environment

Debbie Raven, Executive DirectorSmall Valley Business Corporation

NCCLF Central Valley Advisory Council

Board of Directors

Staff

The financial information provided is drawn from the Northern California Community Loan Fund’s audited financial statements. Copies will be provided by NCCLF upon request.

General Fund Loan Fund TotalASSETS Cash and Investments $ 4,481,945 $ 17,963,672 $ 22,445,617 Loans to Community Borrowers $ $ 15,247,927 $ 15,247,927 Other Assets $ 2,109,534 $ 811,454 $ 2,920,988 TOTAL ASSETS $ 6,591,479 $ 34,023,053 $ 40,614,532 LIABILITIES AND NET ASSETS Interest and accounts payable $ 345,051 $ 473 $ 345,524 Notes Payable to Community Investors $ $ 27,140,500 $ 27,140,500 Other Liabilities $ 1,936,196 $ $ 1,936,196 TOTAL LIABILITIES $ 2,281,247 $ 27,140,973 $ 29,422,220 Unrestricted Net Assets $ 4,078,429 $ 6,882,080 $ 10,960,509 Temporarily restricted Net Assets $ 231,803 $ 231,803 TOTAL NET ASSETS $ 4,310,232 $ 6,882,080 $ 11,192,312 TOTAL LIABILITIES & NET ASSETS $ 6,591,479 $ 34,023,053 $ 40,614,532

CONDeNSeD STATeMeNT OF FINANCIAl POSITIONYear ended September 30, 2011

Unrestricted Temporarily Restricted TotalSUPPORT AND REVENUE Grants and contributions $ 1,775,593 $ 215,000 $ 1,990,593 Interest and investment income $ 696,440 $ $ 696,440 New Markets Tax Credit Income $ 403,440 $ 403,440 Consulting and other Fee Income $ 347,741 $ $ 347,741 Net assets released from restrictions $ 374,490 $ (374,490) $-TOTAL SUPPORT & REVENUE $ 3,597,704 $ (159,490) $ 3,438,214 EXPENSES Program services: Direct lending $ 819,200 $ $ 819,200 New Market Tax Credit $ 241,554 $ 241,554Consulting and grant $ 877,561 $ $ 877,561 Capitalization $ 350,707 $ $ 350,707 Total Program Services $ 2,289,022 $ $ 2,289,022 Supporting services: Management and general $ 236,762 $ $ 236,762 Fundraising $ 255,485 $ $ 255,485 TOTAL ExPENSES $ 2,781,269 $ $ 2,781,269 Change in net assets $ 816,435 $ (159,490) $ 656,945 Net assets, beginning of year $ 10,144,074 $ 391,293 $ 10,535,367 NET ASSETS, ENd OF yEAR $ 10,960,509 $ 231,803 $ 11,192,312

CONDeNSeD STATeMeNT OF ACTIVITIeS AND CHANGeS IN NeT ASSeTS Year ended September 30, 2011

Mary A. Rogier, NCCLF President Kirke Wilson, Chair, NCCLF Board of Directors

Alice RochaBusiness Development Loan Officer

C. Lea SalemDirector of Finance and Administration

Sherry SimmonsDirector of Resource Development

Joshua SimonDirector of Real Estate Karen SullivanLoan Officer

David WilkinsonReal Estate Consultant

Tim Rios, Senior Vice President and Community Development Manager, Wells Fargo

Dr. Vida Samiian, Dean of Arts and HumanitiesCalifornia State University of Fresno

Michael Sigala, Sigala, Inc.

Dennis Woods, President, United Security Bank

Moy Eng, Executive DirectorCommunity Schools of Music and Arts

Pat GoPaul, Esq., Vice PresidentImpact Community Capital Andy Madeira, Vice PresidentCommunity Development BankingJP Morgan Chase Bank, N.A.

Amy Rassen, PresidentRassen and Associates Ilana SchatzCommunity Activist Margaret StoneCommunity Activist

Lydia Tan, Executive Vice PresidentDirector, Northern California Operations Related California Anna Yee, Deputy Director Chinatown Community Development Center

Kirke P. Wilson (Board Chair)Community Activist

Our Mission The Northern California

Community Loan Fund promotes economic justice and alleviates

poverty by increasing the financial resilience and sustainability of

community-based nonprofits and enterprises. Through flexible financial products and sound advice, we create

opportunities to make socially responsible investments

that revitalize Northern California

communities.

13% INDIVIDUALS

36%HEALTH AND HUMAN SERVICES

6% ECONOMIC DEVELOPMENT

28% ARTS AND EDUCATION

31% AFFORDABLE HOUSING

1% NONPROFITS/

ASSOCIATIONS3%

GOVERNMENT

28% BANKS

20% PERMANENT

CAPITAL

17% FOUNDATIONS

17% RELIGIOUS/HEALTH

ORGANIZATIONS

ECONOMICDEVELOPMENT

FACILITY

HOUSING

MEMORIAL CONTRIBUTIONS IN HONOR OF WALTER MONASCH

Walter Monasch, an NCCLF board member from 1989 - 1999, passed away in August, 2011. Walter served as Board Chair from 1996 - 1999, a critical growth period for the Fund. Walter was joyous about life and we thank him for sharing that indistinguishable joy with us and the people we serve. We will miss him. The following people made memorial contributions to NCCLF in his honor: Lois Epstein, MD Ken Kofman Evelyn Mabbe Mary L. Moore Mary A. Rogier Peter Stern and Holly Badgley Paul Sussman Nora J. Thompson Kirke and Ann Wilson

Our Vision NCCLF envisions

financially strong and culturally vibrant

communities where each person has access to decent

jobs, homes, health care, education, and

economic opportunities. We work in partnership

with individuals and organizations who share our vision of

sustainable communities and social and

economic justice.

Since 1971, Tenants and Owners Development Corporation (TODCO) has provided affordable housing and services geared to seniors in the South of Market area of San Francisco. TODCO’s first two housing projects, known as Woolf House I and Woolf House II, opened in 1979 and 1982, respectively, providing a total of 182 rental units for very low-income seniors.

By 2007, however, these units needed extensive renovation and upgrades, especially to meet current ADA accessibility standards. The $12.7 million project cost originally was to be financed by the California Housing Finance Agency (CalHFA), and NCCLF planned to provide a $1 million predevelopment loan. When CalHFA’s bond rating fell with the economic downturn,

Over the years, NCCLF has worked with multiple community-based arts groups in partnership with the Grants for the Arts program, by providing financial, leasing and other technical assistance to nonprofit arts organizations throughout the Bay area. Recently, NCCLF has been working with arts organizations that want to move to or remain in the burgeoning Central Market Arts district.

The Luggage Store Gallery, a nonprofit artist-run multidisciplinary arts organization, is one of those groups. The Luggage Store provides space for local artists to gather and show their work, organizes exhibitions and performing arts events, arts education and public art programs for the region’s diverse artists and residents. NCCLF oversaw the renovation of its bottom floor rental space and helped secure multiple funding sources for the organization. We continue to work as an advisor with the Luggage Store.

When Hospitality House needed a temporary home for their Community Arts Program (CAP) while the original site was undergoing renovations, NCCLF helped re-locate them to the available rental space at the Luggage Store Gallery. CAP is the only free-of-charge fine arts studio for homeless and poor artists in San Francisco. They supply the materials and space necessary to create, house, exhibit, and sell their artwork. Since their move to the emerging Central Market Arts district, art sales have tripled, art opening attendance has increased, the number of people stopping to view the art in the windows has quadrupled, and neighborhood businesses and organizations are starting to exhibit the art in their spaces. With the increased publicity since moving to the Mid-Market area, Hospitality House is now looking to remain permanently at the new location.

SF Cameraworks is a nonprofit arts organization that encourages emerging artists to explore film and related media. Its First Exposures program uses art education to develop transferable skills and foster supportive intergenerational relationships between artists and under-served Bay Area youth. When the organization moved to the Mid-Market area, they turned to NCCLF for guidance. “NCCLF’s real estate consulting services were an invaluable resource in the planning of our relocation,” says Hal Fischer, treasurer at SF Cameraworks. “The staff is knowledgeable and experienced - they could speak directly to the opportunities and challenges. NCCLF was there for us throughout the entire process, providing invaluable guidance right up to opening day in our new Mid-Market space.”

Because of our work in the Mid-Market area, we were chosen as one of the lead advisors for the Mayor’s Central Market Economic Strategy on how to enhance the creative arts community. The Strategy is an action plan on how to revitalize and restore the area to its position as a vital commercial center. NCCLF was one of the lead advisors Although the strategy is long-term, NCCLF’s impact is already visible in the Mid-Market arts community.

TODCO Woolf HouseIMPACT: PReSeRVING AFFORDABle HOuSING FOR SeNIORS

Mid-Market Arts ProgramIMPACT: ReVITAlIzING THe CeNTRAl MARKeT AReA

the project was delayed until 2010, causing a significant increase in the predevelopment costs.

“NCCLF was gracious enough to loan us an additional $500,000 so we could meet the additional predevelopment costs caused by the delay,” says Hector Buergos, the development project manager at TODCO. “Their willingness to work with us on the loan increase has made them an invaluable partner to us.”

The renovations to Woolf House have been transformative. Sixteen ADA-compliant units were added, and an additional elevator has eased delays for the residents trying to get to the dining room at meal time. New plumbing and paint sparkle in the kitchen and hallways, and the recreational room stands ready for its transformation. The renovations have not only improved the building, they’ve improved the quality of life for the senior citizens who live there.

Richmond Maritime Child Development CenterIMPACT: AN eDuCATION CeNTeR FOR CHIlDReN

Children are playing and learning once again in the restored Richmond Maritime Development Center, a building rich with history. One of the first publicly-funded childcare centers for working mothers in the United States, the Center opened its doors in 1943 to provide childcare for mothers working in the shipyards during World War II. When the war ended in 1945, the shipyards abruptly closed, causing such severe damage to the local economy that Richmond has struggled to overcome it throughout its post-war history.

The Center provided childcare for many years, but eventually closed in 2004. With the help of a $9 million allocation of New Market Tax Credits through NCCLF, it re-opened in August 2011 as the Richmond Maritime Child Development Center. Now, it is part of the Rosie the Riveter World War II Home Front Memorial National Historic Park, which commemorates the role women and minorities played during the war effort.

The Center is now home to Richmond College Prep, a K-5 charter school. It also houses the Richmond Community Foundation. The Center’s spacious community room is available to local residents and community groups.

And, beginning in May 2012, the public will be welcomed to tour the Center, including an exhibit of toys and furniture from the original Center.

“Seeing the transformation of the Maritime Center has been an amazing experience,” says Marsha Mathers-Thrift, the executive director of the Rosie the Riveter Trust. “This is proof that when different organizations work together, we can make positive, permanent change to our community.”

870 Market Street Suite 677

San Francisco, CA 94102Tel: 415.392.8215 Fax: 415.392.8216

Central Valley Office4949 E. Kings Canyon Road

Suite 108 Fresno, CA 93727

559.452.0327www.ncclf.org

Photography Cover photo: Julio Martinez

All photos on this side: Julio Martinez

“NCCLF was there for us throughout the entire process, providing invaluable guidance right up to opening day

in our new Mid-Market space.”

“Their willingness to work with us on the loan increase has made them an

invaluable partner to us.”

Mahatma Gandhi

Tammy Anderson, (center) project manager at Woolf House shares a hug with tenants Maria Galan (left) and Diane Bunag (right).

Darryl Smith, curator of the Luggage Store Gallery, looks out on the Mid-Market neighborhood from the gallery rooftop.

Carlos Chavarria (left) mentors Junaid Iqbal at SF Camerawork’s First Exposures program.

Artist Marion Hunt works on a drawing at Hospitality House’s Community Arts Program in the Mid-Market area.

...on what we do in the present

Students participate in a small, group reading session at the Richmond Maritime Child Development Center.

“This is proof that when different organizations work together, we can make

positive, permanent change to our community.”

Investors A Message from NCCLF ’s President and Chair“The future depends on what we do in the present.” Gandhi’s seemingly simple observation is surprisingly useful to all of us who work for a better future for low-income people and communities. More than a mere statement of fact, it actually presents a challenge: if we want a better future, what are we willing to do right now to make it happen?

This Annual Report describes NCCLF’s answer to that challenge; how we provide financing and financial expertise to the community-based organizations that are the true change agents in distressed communities.

All you need to know about what NCCLF does in service to the future is right here in this Annual Report. We rely on our dedicated investors - banks, religious communities, philanthropic foundations, and hundreds of individuals - to lend us the capital so often unavailable in poor communities. We put those investments to work to build affordable housing, support and expand health care, and create new opportunities through job training, child care, and charter schools. The community services we support and strengthen enable low-income people to grow, study and learn, find good jobs, and care for their families. What we do in the present restores dignity, rebuilds neighborhoods, and renews and revitalizes entire communities. We at NCCLF are proud of our work, and are honored to work with our nonprofit clients and community partners who share our commitment to economic and social justice. Without these collaborative partners, “practical visionaries” as we call them, NCCLF could not do its work. With gratitude and admiration for their unswerving commitment to a better future, we dedicate this report to them.

Mary A. Rogier Kirke Wilson

President Chair, Board of Directors

Northern California Community Loan Fund2011 Annual ReportIndividuals

Anonymous Ralph Alpert Robert Bacon Holly Badgley and Peter SternJane Baker Barbara Fletcher Barbour Peter Barnes Ted and Mary Barone Alvin H. Baum, Jr.Jesse BeanBenjamin Bear and Nancy Noah-Bear Laurie BernsteinIris BiblowitzRichard Billington and Dorrit Billman Joani Blank Elizabeth BoardmanPeter Brastow William and Victoria Bruckner Richard Bernius - Busgang TrustErin CallahanKimo CampbellCarol Cavanaugh Chechanover Family TrustCory Cherk and Chris Davidson Joanie Ciardelli Mary Ann Cobb Gabriel D. Speyer Cordes Family Foundation Cotton Family Trust Linda Dallin and Paul Sussman Judith Dambowic S. W. Dittenhofer IIIPaul Drescher and Roberta FriedmanMarta Drury James R. EitelCaroline L. EvertsMichael S. FalkSusan Frank Alexandra Freidus David FriedmanMax Meyer Friedman Meryl Meyer Friedman Mary Ford and Robert Lewis Richard Galloway and Zoia HornElspeth Gilmore Marty Glick and Judy Zollman Lenore GoldmanGray Family Trust

Deborah Gray Michael and Claire Gray Patricia GoPaul Marion E. Greene Trust Ilene L. Gusfield Hadley Dale Hall and L. Warde LaidmanMike Hannigan Holly Hayes and Carl SternAlice Henry Adam HochschildLisa Honig Glenda HopeMartha Hyde David Jaber Lona Jupiter Karuna Trust Gunther Kay Non Marital Trust Paul Kivel and Mary LuckeyJoseph Kresse Suzanne LaFetraAlan B. Lans Karen Larsen Jennifer LeedsStephen L. LeedsMyra Levy and Charlie Varon Richard D. Lewis, Jr. Conny Lindley David Lingren and Ilana Schatz Oliver H.P. Lloyd Longinotti Revocable Living Trust Sara C. Lovell Shan MagnusonStephen MatchettArlene Mayerson Danielle McArthur and Michael MurrayAdair McClatchy Chris McCluneyRobert C. McConnell Pamela MerchantKate Meyer Paulette MeyerMark Morris and Karen Weil Phyllis Murphey Suse Nakata Zaitlin-Nienberg Family Living Trust Susan Lynn and Sorca M. O’ConnorHenry ObermayerDaniel Van Olst Jeffrey A. Ordower Wendy Oser Alma En Paz Hanna Pitkin Elizabeth Jane Rankow Trust Rhine Living Trust Charlotte Rieger

Bond Rifas TrustElisabeth Hardman Rix Joan and Bill RobbinsHirt-Rodman Family Trust Mary A. RogierWilliam RothMeredith SabiniKirby Sack Peter S. Samis Mark SchackMarie Schutz Sherri SchultzJane Segal Susan Severin Aaron/Sherman Trust Alissa Shethar Patricia SilverSally Smyth William StewartJanet StoneDolores Taller Wendy TanowitzFrances TaylorBonnie Thomas Marianna Tubman Alfred Twu Elia and Halimah Van TuylSusan Vickers, RSM Volkmann Family Limited Partnership Albert Wald Léonie WalkerSandy Weil James and Janet Wenninger Robert Winant Molly and Dennis Wuthrich Richard Yurman BanksBBVA Compass Bank of America Bank of the West Borel Private Bank & Trust Co. Charles Schwab Bank Compass Bank First RepublicManufacturers BankJ. P. Morgan Chase Bank, N.A. Northern Trust Company Presidio Bank U.S. Bancorp Community Development CorporationUnited Commercial BankUnited Labor Bank, FsbWells Fargo Community Development CorporationDonors

Organizations$50,000 and Up Bank of America Annie E. Casey FoundationCiti The Hearst FoundationsCommunity Development Financial Institution Fund $1000 - $49,000 AnonymousArts SymposiumBank of the WestBank Leumi Borel Private Bank and TrustCatholic Healthcare WestJ. P. Morgan Chase & Co.Comerica BankEquity Community BuildersFiredoll FoundationFirst Republic BankGreene Radovsky Maloney Share William and Flora Hewlett FoundationLow Income Investment FundMechanics BankNorthern Trust, NASan Francisco FoundationSCM Advisors LLCSilicon Valley Bank Sisters of St. Joseph of Orange State Street FoundationSterling BankU.S. Bank Union Bank Wells Fargo Bank Wells Fargo of California Insurance Services, Inc.

Up to $999BRIDGE Housing Corporation California Economic Development Lending InitiativeFranklin Templeton Bank Tenderloin Neighborhood Development Corporation Individuals$5,000 and Up Holly Badgley and Peter SternKimo Campbell (Deceased)S.W. Dittenhofer IIITom Meyer and Julie Stevenson Gertrude ReaganPatricia Wolfe $1000 - $4,900AnonymousClara BasileCraig Burke and Molly LazarusSusan ChamberlinLaurie CohenDavid A. Friedman Adrienne Hirt and Jeffrey RodmanMichael H. KieschnickMarineau Family Foundation Paulette Jean Meyer Sarah Nelson and Mary A. RogierPamela Merchant and Kirby Sack Elisabeth Hardman Rix Susan Vickers, RSM

$500 - $999Anonymous Elizabeth Boardman Jean DriscollSamuel HaleHolly Hayes and Carl SternAnn M. HatchSteve OliverElizabeth PigfordMargaret J. Stone Kirke and Anne Wilson Up to $499AnonymousGuy Baldwin Angela Brasov Alvin H. Baum, Jr.Ann F. CameronLisa ChenJohn CottonRegina DavisMargaret Diener, OPGurpal DosanjhDavid Leland Fair and Vickie Scott Grove Joseph FongEloise FoxMargo GeorgeHadley Dale Hall John Harrington Alfred HellerJim Illig Paul KivelDavid KrimmBill and Maria Lambert Olson LeeDavid Lingren and Ilana SchatzLarry Litvak

WE ARE GRATEFUL FOR THE COMMITMENT OF OUR INVESTORS AND FINANCIAL PARTNERS

WE ARE GRATEFUL FOR THE GENEROSITY OF OUR DONORS

Robert T. Matthew, Jr. Liana MortazaviDanielle McArthur and Michael MurrayRobert C. McConnell David A. Okazaki Jamie Osborn and Monica L’EsperanceGlenda Pawsey Patrick Reed William Roth Jack Sawyer Kimberly Scala and Akaya WindwoodMarie SchutzSherry SimmonsPaul SussmanDolores Taller Lydia Tan Kenneth S. TaymorKaren WeilSandy WeilMark WeismanIlene Weinreb Anna Yee

In-Kind DonorsCooley Godward Kronish, LLP Dechert, LLP Dreamhost Federal Reserve Bank of San Francisco Greene Radovsky Maloney Share & Hennigh, LLP Google Microsoft Morrison & Foerster Northern Trust, NA Orrick, Herrington & Sutcliffe, LLP Salesforce.com Foundation Sherman & Sterling

FoundationsPeople’s Life Fund Calvert Social Investment FoundationFriedman Family Foundation Erich and Hannah Sachs FoundationWallace Alexander Gerbode FoundationAnnie E. Casey Foundation S.H. Cowell Foundation The San Francisco FoundationThe California Endowment

Religious InstitutionsSisters of Charity of the Blessed Virgin Mary Marist Society, Inc. California Province, Society of JesusDignity HealthSisters of St. Joseph of OrangeSinsinawa Dominicans Sisters of the Holy Names of Jesus and Mary, Province of CaliforniaSt. John’s Presbyterian Church-BerkeleyCongregation of the Sisters of Charity of the Incarnate WordSister of Mercy of the Americas West St. Joseph Health SystemCatholic Health Initiatives St. Ignatius ChurchMercy Investment Services, Inc.Trinity Health CorporationMarianist Province of the United StatesReligious Communities Investment FundSan Francisco Network Ministries

Nonprofits and Government AgenciesCommunity Development Financial Institutions FundCommunity Economics, Inc.Stiles Hall Financing PartnersDignity HealthEnterprise Community Loan FundLocal Initiatives Support CorporationLow Income Investment FundNCB Capital Impact

New Market Tax Credit PartnersClearinghouse CDFI J. P. Morgan Chase Bank, N.A. National Development CouncilNonprofit Finance FundSan Francisco Community Investment Fund U.S. Bank

SOCIAl IMPACT: BRINGING New CAPITAl TO COMMuNITIeS IN NeeD

All photos on this page: Roy Manzaneres

Mary A. RogierPresident

Jonathan AustinReal Estate Consultant

Guy BaldwinBusiness Systems Analyst

Leiasa BeckhamReal Estate Consultant

Lori CampbellFinancial Management Consultant

Ross CulverwellDirector of Lending

Teresa DavisConsulting Program Analyst

Shobna Dhewant Senior Loan Office

Kelly EhrenfeldLoan Associate

Kavita GobburiLoan Officer

Maureen DeCosteDevelopment/Marketing Associate

Elizabeth BoardmanCommunity Activist Ann F. CameronSenior Vice President/Banking ManagerNorthern Trust Bank Regina Davis, Executive DirectorSan Francisco Housing Development Corp.

Grayton HuangSenior Accountant

Joanne LeeDirector of Financial Consulting and Program Development

Eddy Lopez Jr.Executive Assistant

Cristian MartinezAdministrative Coordinator

Janna ManciniDevelopment Associate

Eric FoleyLoan and Compliance Associate

Thomas Collishaw (Chair) Vice President, Director of DevelopmentSelf-Help Enterprises

John Chan, Vice President, US Bank

Arthur Dyson, Architect, AIA, IAA

Gabriela Mello, Community, Relations Officer, Citi Bank

Camille Pannu, Staff AttorneyCenter on Race, Poverty & the Environment

Debbie Raven, Executive DirectorSmall Valley Business Corporation

NCCLF Central Valley Advisory Council

Board of Directors

Staff

The financial information provided is drawn from the Northern California Community Loan Fund’s audited financial statements. Copies will be provided by NCCLF upon request.

General Fund Loan Fund TotalASSETS Cash and Investments $ 4,481,945 $ 17,963,672 $ 22,445,617 Loans to Community Borrowers $ $ 15,247,927 $ 15,247,927 Other Assets $ 2,109,534 $ 811,454 $ 2,920,988 TOTAL ASSETS $ 6,591,479 $ 34,023,053 $ 40,614,532 LIABILITIES AND NET ASSETS Interest and accounts payable $ 345,051 $ 473 $ 345,524 Notes Payable to Community Investors $ $ 27,140,500 $ 27,140,500 Other Liabilities $ 1,936,196 $ $ 1,936,196 TOTAL LIABILITIES $ 2,281,247 $ 27,140,973 $ 29,422,220 Unrestricted Net Assets $ 4,078,429 $ 6,882,080 $ 10,960,509 Temporarily restricted Net Assets $ 231,803 $ 231,803 TOTAL NET ASSETS $ 4,310,232 $ 6,882,080 $ 11,192,312 TOTAL LIABILITIES & NET ASSETS $ 6,591,479 $ 34,023,053 $ 40,614,532

CONDeNSeD STATeMeNT OF FINANCIAl POSITIONYear ended September 30, 2011

Unrestricted Temporarily Restricted TotalSUPPORT AND REVENUE Grants and contributions $ 1,775,593 $ 215,000 $ 1,990,593 Interest and investment income $ 696,440 $ $ 696,440 New Markets Tax Credit Income $ 403,440 $ 403,440 Consulting and other Fee Income $ 347,741 $ $ 347,741 Net assets released from restrictions $ 374,490 $ (374,490) $-TOTAL SUPPORT & REVENUE $ 3,597,704 $ (159,490) $ 3,438,214 EXPENSES Program services: Direct lending $ 819,200 $ $ 819,200 New Market Tax Credit $ 241,554 $ 241,554Consulting and grant $ 877,561 $ $ 877,561 Capitalization $ 350,707 $ $ 350,707 Total Program Services $ 2,289,022 $ $ 2,289,022 Supporting services: Management and general $ 236,762 $ $ 236,762 Fundraising $ 255,485 $ $ 255,485 TOTAL ExPENSES $ 2,781,269 $ $ 2,781,269 Change in net assets $ 816,435 $ (159,490) $ 656,945 Net assets, beginning of year $ 10,144,074 $ 391,293 $ 10,535,367 NET ASSETS, ENd OF yEAR $ 10,960,509 $ 231,803 $ 11,192,312

CONDeNSeD STATeMeNT OF ACTIVITIeS AND CHANGeS IN NeT ASSeTS Year ended September 30, 2011

Mary A. Rogier, NCCLF President Kirke Wilson, Chair, NCCLF Board of Directors

Alice RochaBusiness Development Loan Officer

C. Lea SalemDirector of Finance and Administration

Sherry SimmonsDirector of Resource Development

Joshua SimonDirector of Real Estate Karen SullivanLoan Officer

David WilkinsonReal Estate Consultant

Tim Rios, Senior Vice President and Community Development Manager, Wells Fargo

Dr. Vida Samiian, Dean of Arts and HumanitiesCalifornia State University of Fresno

Michael Sigala, Sigala, Inc.

Dennis Woods, President, United Security Bank

Moy Eng, Executive DirectorCommunity Schools of Music and Arts

Pat GoPaul, Esq., Vice PresidentImpact Community Capital Andy Madeira, Vice PresidentCommunity Development BankingJP Morgan Chase Bank, N.A.

Amy Rassen, PresidentRassen and Associates Ilana SchatzCommunity Activist Margaret StoneCommunity Activist

Lydia Tan, Executive Vice PresidentDirector, Northern California Operations Related California Anna Yee, Deputy Director Chinatown Community Development Center

Kirke P. Wilson (Board Chair)Community Activist

Our Mission The Northern California

Community Loan Fund promotes economic justice and alleviates

poverty by increasing the financial resilience and sustainability of

community-based nonprofits and enterprises. Through flexible financial products and sound advice, we create

opportunities to make socially responsible investments

that revitalize Northern California

communities.

13% INDIVIDUALS

36%HEALTH AND HUMAN SERVICES

6% ECONOMIC DEVELOPMENT

28% ARTS AND EDUCATION

31% AFFORDABLE HOUSING

1% NONPROFITS/

ASSOCIATIONS3%

GOVERNMENT

28% BANKS

20% PERMANENT

CAPITAL

17% FOUNDATIONS

17% RELIGIOUS/HEALTH

ORGANIZATIONS

ECONOMICDEVELOPMENT

FACILITY

HOUSING

MEMORIAL CONTRIBUTIONS IN HONOR OF WALTER MONASCH

Walter Monasch, an NCCLF board member from 1989 - 1999, passed away in August, 2011. Walter served as Board Chair from 1996 - 1999, a critical growth period for the Fund. Walter was joyous about life and we thank him for sharing that indistinguishable joy with us and the people we serve. We will miss him. The following people made memorial contributions to NCCLF in his honor: Lois Epstein, MD Ken Kofman Evelyn Mabbe Mary L. Moore Mary A. Rogier Peter Stern and Holly Badgley Paul Sussman Nora J. Thompson Kirke and Ann Wilson

Our Vision NCCLF envisions

financially strong and culturally vibrant

communities where each person has access to decent

jobs, homes, health care, education, and

economic opportunities. We work in partnership

with individuals and organizations who share our vision of

sustainable communities and social and

economic justice.