Form SBA Form 1253 SBA Form 1253 Certified Development Company (CDC) Annual Report

OMB Approval No.: 3245-0075
Expiration Date: XX/XX/XXXX

CERTIFIED DEVELOPMENT COMPANY (CDC)
ANNUAL REPORT GUIDE
CDCs are required to submit an Annual Report on their operations to SBA. (13 CFR, §§ 120.826
and 120.830). All reports are to be prepared in accordance with these regulations, SOP 50 10,
and the instructions set forth in this guide. This report is required to ensure that the CDC is in
compliance with SBA’s Loan Program Requirements.
CDCs may include, along with the Annual Report, a request for renewal of their Accredited
Lender Program (ALP) or Premier Certified Lender Program (PCLP) status (if applicable). If the
CDC chooses to include a renewal request in its Annual Report, the CDC must clearly indicate in
its Annual Report that a renewal request is included. Any status renewal request submitted along
with a CDC’s Annual Report must meet SBA’s Loan Program Requirements for the status
request. CDCs are reminded to refer to ALP/PCLP guidance in SOP 50 10 when preparing their
renewal requests. Office of Credit Risk Management (OCRM) staff, when reviewing either the
Annual Report or the status renewal request, may ask for updated information as needed to
complete the review. Initial requests for Priority Status, ALP status, PCLP authority, a Local
Economic Area (LEA) Expansion, or a Multi-state Expansion should not be included in the
Annual Report and must be sent separately according to the instructions set forth in SOP 50 10.
Submission Requirements: CDCs are requested to submit the Annual Reports to their Lead
District Office electronically via email with a copy to OCRM at [email protected].
(CDCs submitting hard copies of their Annual Report do not need to provide a copy to
[email protected].) CDCs should note that the size limitation on SBA email boxes is
10MB. If the electronic file is larger than 10MB, you may need to separate the electronic file into
multiple attachments.
CDCs also have the option of submitting their Annual Reports through the Corporate
Governance Repository located on the Capital Access Financial System (CAFS)
(https://caweb.sba.gov/cls/dsp_login.cfm) under the CDC Online function. Use of the Corporate
Governance Repository will avoid email size limitations. CDCs using the Corporate Governance
Repository to submit their Annual Reports will need to submit any ALP or PCLP renewal
requests separately.
In order to ensure uniform and comparable data by all CDCs, the Annual Report has been
designed to standardize reporting requirements. CDCs should report on every item within each
Tab of the guide (items or tabs without information being reported should state “N/A”). Both
electronic and hard-copy submissions should be organized with tabs that correspond with the
tabs indicated in this guide. (The Corporate Governance Repository requires the items in each
tab to be uploaded document-by-document.) CDCs that choose to submit hard copies of their
Annual Report must use only 8.5 by 11-inch paper and must provide their original Annual
Report, plus one copy of the report to their Lead District Office. The Lead District Office will
forward one hard copy of the Annual Report to OCRM and retain the other hard copy of the
Report for their records. The CDC’s Lead District Office can be found at www.SBA.gov.
The Annual Report, whether submitted electronically or as a hard copy, must include all of the
required documents, signatures and attachments and comply with the instructions set forth in this
guide. CDCs may use the Corporate Governance Repository to upload some of the documents

required for the Annual Report, even if the CDC elects not to submit the entire Annual Report
using the Corporate Governance Repository. Documents that have been uploaded to the
Corporate Governance Repository do not need to be resubmitted if the CDC elects to file the
Annual Report by email or hard copy.. Instead, the CDC must list in the email or hard copy of
the Annual Report all of the documents that have been uploaded to the Corporate Governance
Repository and the date of availability.
Timing: The Annual Report must be filed with the CDC’s Lead District Office within 180
calendar days after the end of the CDC’s fiscal year; although CDCs are requested to submit
their Annual Reports sooner if possible. A CDC that is certified by SBA within 6 months of the
CDC’s fiscal year-end is not required to submit an Annual Report for that year.
Incomplete or unacceptable reports will be returned to the CDC and the CDC will be
considered to have not fulfilled the requirement. If a CDC does not submit its Annual
Report in a timely manner, this will be reported to OCRM for potential supervisory or
enforcement actions.
PLEASE NOTE: The estimated burden for this collection of information is 28 hours. You are not
required to respond to any collection of information unless it displays a currently valid OMB
approval number. Comments or questions on the burden estimate, or ways to improve the guide
should be sent to US Small Business Administration, Director, Records Management Division,
409 3rd St., SW, Washington, DC 20416 and/or SBA Desk Officer, Office of Management and
Budget, New Executive Office Building, Room 10202, Washington, DC 20503.
______________________________________________________________________________
ORGANIZATION OF THE ANNUAL REPORT
TAB 1. Economic Development Report
CDC must report on the previous year’s investment and results, the current year’s investment
and expected results and the upcoming year’s budget estimate. CDCs should use a results-based
assessment when considering the investment and/or reinvestment year after year. The entity
and/or program receiving the investment should be required to provide results-based reporting to
the CDC. All of this information together should be reviewed and approved by the CDC’s Board
of Directors.
The Economic Development Report is designed to provide local economic information as well as
analytical data on the impact of the CDC’s non-504 assistance to small business. This report
must include the following information in the order described:
1. Local economic changes which impact lending. (For Multi-State CDCs, these comments
must be provided for each state.)
2. Summary of CDC activity in lending programs other than 504 (either SBA or non-SBA).
3. Summary of CDC activity in non-lending programs (grants or non-lending economic
development efforts).
4. CDC’s economic development strategy that outlines the efforts the CDC will undertake
during the upcoming fiscal year to serve its Area of Operations. This includes projections

for 504 loan activity and investments in other economic development. (For Multi-State
CDCs, these comments must be provided for each state.)
Include evidence of CDC Board of Directors’ approval of the investment plan for the upcoming
fiscal year and the basis for determining the type/amount of investment.
Guidance on Reporting on non-lending investments in economic development activities:
CDCs are required to report on investment in economic development per 13 CFR §
120.830(a)(4). CDCs must document non-lending investments in economic development
activities by instituting a results-based reporting requirement from the recipient entity. For nonlending investments in economic development activities, the CDC should track and report on:
1. The initial investment amount for each program;
2. The amount of investment made during the fiscal year being reported;
3. The expected results of the investment in the specific program(s) (at the time of
investment); and
4. The actual results of the investment in non-lending other economic development
activities.
TAB 2. Operating Report
1. Directors/Committees (as of the end of the CDC’s fiscal year being reported)
Changes from the previous CDC fiscal year must be noted with an asterisk. If a new
Director has joined the Board, the CDC must provide the date(s) that SBA Form 1081
and resume(s) were submitted to SBA.
Board of Directors. Organize as follows:
i. Director’s name;
ii. Area of each director’s expertise;
iii. The director’s current occupation, business address, and business phone
number;
iv. Each director’s residence (City, State);
v. If an officer of the board, state office; and
vi. If the CDC is a Multi-State CDC, and the CDC added two additional
members to the Board who live or work in the State into which the CDC
expanded (the “additional State”), identify these members and provide the
information listed in paragraphs a.i. through iv. above.
Identification of “Close Relatives”: CDCs must identify any relationships
between Directors and/or CDC employees that are defined as “close relatives” per
13 CFR §120.10.

CDC Board Meetings – List the following information:
i. Dates of the CDC Board meetings during the fiscal year being reported;
ii. Names of the Board members present at each meeting, including identifying
which of the required areas of expertise the Board member represents;
iii. For the present Board Members with experience in Commercial Lending, list
each member’s name, title, lending institution, and number of years of
experience. Specify if one is the CDC manager;
iv. A listing of the borrower names (to include the loan numbers, if available) of
any 504 loans approved during the meeting. In addition, for Multi-State
CDCs that add at least two additional members to the Board to represent the
additional State, the Board minutes must identify the members who voted on
the loan for any Project located in the additional State; and
v. A complete collection of the minutes for each meeting during the reporting
period. The meeting minutes must identify any recusals from voting by any
Director due to potential or actual conflicts of interest. Note: Board minutes
may be accepted instead of a full listing of items c.i. through c.iv. above
ONLY IF the minutes are signed and provide all of the required information
listed above.
Executive Committee
If the CDC has an Executive Committee, provide the name and area of expertise
of each Executive Committee member.
Executive Committee Meetings
If, in addition to the Board meetings, the CDC has Executive Committee
meetings, the CDC must provide the same information listed under CDC Board
Meetings (items c.1. through c.v. above) for Executive Committee meetings,
including a complete collection of the Executive Committee minutes for each
Executive Committee meeting during the reporting period, which must identify
any recusals from voting by any Committee members due to potential or actual
conflicts of interest.
Loan Committee(s)
i. If the CDC has a Loan Committee which is separate from the Board of
Directors, provide the following information for each Loan Committee
member:
a)

Committee member’s name;

b)

Area of each Committee member’s expertise;

c)

The Committee member’s current occupation, business address, and
business phone number; and

d)

Each Committee member’s residence (City, State).

ii. If Board of Directors serves as the CDC’s Loan Committee, a separate listing
is not required. CDC may denote Loan Committee members clearly on the

Board listing.
iii. Multi-State CDCs have the option of either:
a) Establishing a separate Loan Committee in each State into which the CDC
expanded (the “additional State”); or
b) Adding at least two additional members who live or work in the additional
State either to the Loan Committee in the CDC’s State of incorporation (if
established) or to the CDC’s Board.
Accordingly, Multi-State CDCs must provide the information described in
paragraphs f.i.a) through d) above for either the members of the Loan
Committee established in the additional State or the two or more additional
members who are added to the CDC’s Loan Committee. (If the two
additional members are added to the CDC’s Board, see ¶ 1.a.vi. above.)
Loan Committee Meetings
If, in addition to the Board meetings, the CDC has Loan Committee meetings,
CDC must provide:
i. The same information listed under CDC Board Meetings (items c.i. through
c.v. above) must be supplied for Loan Committee Meetings, including, but
not limited to, a complete collection of the Loan Committee minutes for each
Loan Committee meeting during the reporting period, which must identify
any recusals from voting by any Committee members due to potential or
actual conflicts of interest. In addition, for Multi-State CDCs that add at
least two additional members to the Loan Committee to represent an
additional State, the Loan Committee minutes must identify the members
who voted on the loan for any Project located in the additional State; and
ii. A listing of each loan approved by the Loan Committee between $1,000,000
to $2,000,000 and the date that the Board or Executive Committee ratified
the action of the Loan Committee.
2. Professional Staff. Organize by CDC office location as follows:
Organizational chart which reflects the structure of the CDC and the relationship
amongst personnel and departments;
A listing of all CDC staff by name, position title, function, and years of 504 loan
experience (including, but limited to: marketing, screening, packaging, processing,
closing, servicing, liquidation, management);
i. If the individual fulfills more than one 504 loan program staff function,
identify each function and the approximate percentage of time that the person
spends on each activity
For example:
Jane Doe, Loan Officer, 15 years of 504 experience
Screening, packaging, and processing (75%)
Servicing (25%)

ii. If the individual is contributed by a non-profit affiliate, identify the affiliate
and the approximate time the individual spends on CDC-related activities
versus affiliate- related activities
For example:
John Doe, CDC Manager/President of ABC Economic Development Corp.,
15 years of 504 experience
ABC Economic Development Corp. activities (50%)
CDC-related activities (50%)
iii. If applicable, any CDC office the staff person holds.
3. Contracts – The CDC must provide:
A list of all contracts that require SBA’s prior written approval under 13 CFR
120.824 and that are in effect during the reporting period (with the contract’s
termination date), including contracts for:
i. Management, marketing, packaging, processing, closing, servicing, or
liquidation functions;
ii. Independent loan reviews conducted for the CDC by another CDC;
iii. Employee benefits (such as retirement and health benefits) for the CDC's staff
through a contract under which the contractor and the CDC are deemed coemployees of both the CDC and the contractor; and
iv. Legal services in connection with liquidation or litigation.
If the CDC has previously submitted to SBA a fully executed copy of any of the
contracts listed above and no changes have been made to the contract, the CDC
must provide a statement as part of this report that certifies on behalf of the CDC
that the CDC has previously provided a fully executed copy of the contract to
SBA, the date that the contract was provided, and the name of the SBA employee
to whom the contract was provided. If the CDC has not previously provided SBA
with a fully executed copy of the contract, the CDC must provide a copy of the
contract with this report. Contracts that the CDC enters into for accounting,
independent loan review (by a non-CDC), IT, or legal services are not required to
be submitted for review and approval, except for legal services in connection with
loan liquidation or litigation.
Contracts that have not been previously approved by SBA must be submitted
separately to the OFA 504 Loan Program Branch at [email protected] to
request review/pre- approval prior to the start of each contract term, as required
by SOP 50 10. The submission of a copy of the contract in the CDC’s Annual
Report DOES NOT constitute submission of the contract to OFA for review/preapproval.
i.

4. Affiliations – For affiliations with all other entities, list: the name of the affiliated entity,
nature of affiliation, effective date of the affiliation, and identify the provision under 13
CFR 120.820 that permits the affiliation. If no affiliations exist, indicate “none.”
5. Legal - Provide a statement signed by the CDC’s Board Secretary or Legal Counsel that
certifies to the following:
That all changes to the Articles of Incorporation or By-Laws made during the
reporting period have been submitted to the CDC’s Lead District Office with the
date of the change(s), or a signed certification that no changes have been made.
That the CDC’s Board of Directors and any Loan and Executive Committees are
in compliance with SBA regulations governing CDCs; and
If the CDC is involved in any legal proceeding as a plaintiff or defendant, that
SBA has been adequately notified, including: a summary description of any legal
proceedings; the date that SBA was notified; and the name of the individual and
the SBA office to which the notification was sent, or, a signed certification that
the CDC is not involved in any legal proceedings.
6. Independent Loan Review Package
CDCs are required by 13 CFR § 120.826 and SOP 50 10 to establish a Board-approved
internal control policy, which includes providing for a periodic loan review function to be
performed at a minimum of every 2 years (unless otherwise directed by OCRM) by a
person who is not directly or indirectly responsible for the functions being reviewed, such
as loan making or loan servicing, or by a contractor.
The CDC may contract for independent loan review services without SBA’s prior
approval, except that the CDC must obtain SBA’s prior written approval of the contract if
the review will be conducted by another CDC. CDCs must include an Independent Loan
Review Package in the Annual Report which evidences, at a minimum:
A copy of the Engagement Letter from the Reviewer (if performed by an outside
contractor).
A copy of the completed Independent Loan Review Report which follows the
content and reporting guidelines set forth in the Independent Loan Review Guide,
and includes:
i. A description of the individuals conducting the review, demonstrating their
independence from the function they are responsible to review (if conducted
internally);
ii. The loan selection methodology or criteria used for the sample; and
iii. A copy of the checklist that was used in the loan review.
and
Evidence that the Board of Directors acknowledged receipt of the results of the
Independent Loan Review Report and approved the CDC Management’s plan to
remedy the findings from the loan review.
7. Ownership and Control.

a. For-profit CDCs. Under 13 CFR 120.818(b), no person or entity can own or control
more than 25 percent of a for-profit CDC’s stock. Each for-profit CDC must provide a list of
each owner of stock, the percentage of ownership, and the date that the stock was acquired. If
the CDC has previously submitted this information to SBA in a prior Annual Report and there
have been no changes, the CDC does not need to resubmit the information, but must indicate in
which Annual Report the information was previously provided and must also state that there are
no changes in stock ownership to report.
b. Non-profit CDCs. Under 13 CFR 120.816(d), if a non-profit CDC has a membership
and the members are responsible for electing or appointing voting directors to the CDC’s Board
of Directors, no person or entity can control more than 25 percent of the CDC’s voting
membership. If the CDC’s members are responsible for electing or appointing voting directors
to the CDC’s Board of Directors, the CDC must provide a list that identifies each member and
the entity that the member represents or indicate that the member is serving in their individual
capacity. If the CDC has previously submitted this information to SBA in a prior Annual Report
and there have been no changes, the CDC does not need to resubmit the information, but must
indicate in which Annual Report the information was previously provided and must also state
that there are no changes in membership to report.
TAB 3. Financial Report
13 CFR § 120.830 contains the requirements for a CDC’s annual Financial Report. CDCs are
responsible for reviewing this regulation to ensure compliance. The following is a summary
of the financial reporting requirements.
1. Level of review
For CDCs with a 504 loan portfolio balance of $30 million dollars or more (as
calculated by SBA), the CDC’s Financial Report must include:
i. Audited financial statements prepared by an independent certified public
accountant (CPA) in accordance with Generally Accepted Accounting
Principles; AND
ii. The auditor’s letter to management on internal control weaknesses.
For CDCs with a 504 loan portfolio balance of less than $30 million dollars (as
calculated by SBA), the CDC’s Financial Report must include financial
statements reviewed by an independent certified public accountant (CPA) in
accordance with Generally Accepted Accounting Principles.
2. For all audited or reviewed Financial Reports, refer to 13 CFR § 120.826(c) and (d) for
CPA requirements.
3. Affiliates - The CDC’s report must include audited or reviewed, as applicable, financial
statements of all CDC subsidiaries and affiliates, as determined by 13 CFR § 121.103.
4. If the CDC’s management (through an SBA-approved management waiver) or staff is

provided by an affiliate of the CDC, and/or if an affiliate subsidizes the CDC’s
operations, the CDC must also provide an explanation of the financial relationship of the
affiliation and a copy of the financial statements of the affiliate.
5. Contents of Financial Report
The Financial Report must include the following statements:
Audited or reviewed balance Sheet;
Audited or reviewed statement of income (or receipts) and expenses (see below
for additional details);
Audited or reviewed statement of source and application of funds;
Such footnotes as are necessary to an understanding of the financial statements;
Evidence of CDC Board’s acknowledgement of audited or reviewed financial
statements and the auditor’s letter on internal control weaknesses;
Federal tax returns for the most recent year, including all schedules (ex. IRS Form
990, IRS Form 1120, Form 480.70); and
504- Related Income/Expenses
If the Income Statement does not include the following 504-specific income and
expense amounts, a separate listing must be attached that details the following
amounts (For Multi-state CDCs, this listing must be provided for each state):
504-Related Income:
i. Applicants/Approved Borrowers 504 Loan Deposits
ii. 504 Processing Fee Income (and the dollar amount of debentures funded)
iii. 504 Closing Fee Income (excluding CDC attorney’s fees)
iv. 504 Servicing Fee Income
v. 504 Late Fee Income
vi. 504 Assumption Fee Income
vii. 504 Escrow Float Interest Income
viii. Other 504-Related Income (Identify what these miscellaneous items are)
504-Related Expense:
i. 504 Marketing, Screening, Packaging and Processing Staff Expense
ii.

504 Servicing Staff Expense

iii. 504 Closing Staff Expense (excluding CDC attorney expense)
iv. CDC Management Staff Expense
v. Other 504-Related Expense (Identify what these miscellaneous items are)
vi. Funds invested in other economic development (for Multi-State CDCs, funds
must be invested in economic development in each state in which the funds

were generated).
6. 159 Reporting – include:
CDC must provide copies of all SBA Forms 159, Fee Disclosure Form and
Compensation Agreements, for all of the CDC’s 504 loans that closed during the
fiscal year being reported.
If copies of the SBA Forms 159 have been uploaded into the Corporate
Governance Repository, the CDC must provide a list of the uploaded forms with
the Annual Report.
If the CDC elects not to submit copies of the SBA Forms 159 through the
Corporate Governance Repository, the CDC must submit the copies of all of the
forms with the Annual Report.
If no copies of SBA Forms 159 are submitted to SBA either through the
Corporate Governance Repository or with the Annual Report, the CDC must
include in the Annual Report a statement of no compensation/fees paid.
7. Compliance with insurance requirement. Include copy of full policy binders for D&O and
E&O insurance.
TAB 4. Analysis of 504 Employment Impact
1. The report requires a listing of all funded debentures (except debentures that have been
accelerated, i.e. placed in liquidation status and required to be repurchased by SBA) by
one of two categories:
Debentures Funded Two or More Years: The actual jobs (as reported by the
borrower on the 2 year anniversary of the funding of the debenture) created
and/or retained.
i. The CDC must collect this information in writing from the borrower on a
document signed and dated by an authorized employee of the borrower.
ii. The CDC must provide totals for this section. (Include prepaid debentures
but NOT debentures that have been accelerated.)
Debentures Funded Less Than 2 Years: The estimated (as indicated on the loan
application) created and/or retained. The CDC must provide totals for this section
. (Include prepaid debentures but NOT debentures that have been accelerated.)
2. The report must also contain a summary section that calculates the CDC Job Creation and
Job Retention Average as well as the $ of Debenture/job.
With respect to Projects that do not involve manufacturing, the CDC must have a Job
Opportunity average of 1 Job Opportunity created or retained for every $75,000 of
debenture funding; or $85,000 for Projects located in Special Geographic Areas (Alaska,
Hawaii, State-designated enterprise zones, empowerment zones, enterprise communities,
labor surplus areas, and Opportunity Zones).
A CDC may choose to separate Projects located in Special Geographic Areas from the
remainder of its portfolio for the purpose of calculating the averages.

3. The CDC’s report must include a listing of all funded debentures for manufacturing
businesses (except debentures that have been accelerated) and the Job Opportunities
created or retained in the same format as the non-manufacturing loans described above.
Loans to Small Manufacturers must have a Job Opportunity average of 1 Job Opportunity
created or retained for every $120,000 of debenture funding. The report must show the
dollar per job average of the manufacturing loans. (Note – these Job Opportunities need
not be included in the CDC’s overall Job Creation and Retention Average reported in the
summary section of the report.)
4. The CDC must report the Job Opportunity information in a table with the following data
elements:
a. CDC Name
b. States Reported
c. CDC Fiscal Year Ending
d. Debentures Funded Less than 2 Years:
i. SBA Loan No. (designate manufacturing projects with a letter “M”)
ii. Borrower Name
iii. Date Funded
iv. 504 Approval Amount
v. Estimated Jobs Created (as indicated on Application)
vi. Estimated Jobs Retained (as indicated on Application)
vii. Total Estimated Job Opportunities (add Estimated Jobs Created and
Estimated Jobs Retained)
viii.

Totals for Columns i. through vii. should be reported as follows:

a)

Total number of loans

b)

Total 504 Approval Amount

c)

Total Estimated Jobs Created

d)

Total Estimated Jobs Retained

e)

Overall Total Estimated Job Opportunities

ix. Totals for Columns i. through vii. should be broken out as follows:
a)

Other than Manufacturing

b)

Manufacturing

e. Debentures Funded 2 or More Years
i. SBA Loan No. (designate manufacturing projects with a letter “M”)
ii. Borrower Name
iii. Date Funded

iv. 503/504 Approval Amount
v. Date of Verification of Actual Job Opportunities (for debentures funded in
FY 2015 or later)
vi. Actual Jobs Created as Reported on 2 Year Anniversary
vii. Actual Jobs Retained as Reported on 2 Year Anniversary
viii. Total Actual Job Opportunities (add Actual Jobs Created and Actual Jobs
Retained)
ix. Difference between Estimated Job Opportunities and Actual Job
Opportunities
x. Public Policy Loan? Yes or No
xi. Totals for Columns i. through ix. should be reported as follows:
a)

Total number of loans

b)

Total 503/504 Approval Amount

c)

Total Actual Jobs Created

d)

Total Actual Jobs Retained

e)

Overall Total Actual Job Opportunities

f)

Total Difference between Estimated Job Opportunities and Actual Job
Opportunities

xii. Totals for Columns i. through ix. should be broken out as follows:
a)

Other than Manufacturing

b)

Manufacturing

f. Summary Section
i. Job Opportunities Summary
a)

Estimated Job Opportunities from Debentures Funded Less than 2 Years
i) Other than Manufacturing
ii) Manufacturing

b)

Actual Job Opportunities from Debentures Funded 2 or More Years
i) Other than Manufacturing
ii) Manufacturing

c)

Total Job Opportunities to Date
i) All Loans
ii) Other than Manufacturing
iii) Manufacturing

ii. Debentures Summary

a)

Sum of Debentures Funded Less than 2 Years
i) Other than Manufacturing
ii) Manufacturing

b)

Sum of Debentures Funded 2 Years or More
i) Other than Manufacturing
ii) Manufacturing

c)

Overall Sum of Debentures Funded
i) All Loans
ii) Other than Manufacturing
iii) Manufacturing

iii. Job Creation Average Calculation
a)

All Loans
i) Overall Sum of Debentures Funded (All Loans) divided by Total Job
Opportunities (All Loans)

b)

Other than Manufacturing
i) Overall Sum of Debentures Funded (Other than Manufacturing)
divided by Total Job Opportunities (Other than Manufacturing)
ii) *** Report this number as the Annual Jobs Ratio

c)

Manufacturing
i) Overall Sum of Debentures Funded (Manufacturing) divided by Total
Job Opportunities (Manufacturing)

TAB 5. Report on Compensation
1. Provide a copy of the CDC’s Executive Compensation policy;
2. Include documentation of the CDC Board of Directors’ basis for determining executive
compensation;
3. Provide evidence of CDC Board of Directors’ review and approval of current executive
compensation package;
4. Provide detailed information on all compensation (including salary, bonuses, and
expenses) paid within the CDC’s most recent tax year for current and former officers,
directors, and key employees. (Compensation must be reported for all current and former
officers, directors, and key employees even in cases where compensation is less than
$100,000.) Include details of deferred compensation packages where applicable; and
5. Provide detailed information on all compensation (including salary, bonuses, and
expenses) paid within the CDC’s most recent tax year for current and former employees
and independent contractors with total compensation of $100,000 or more during that
period. Include details of deferred compensation packages where applicable.

Note – Report on Compensation is required. Submission of the IRS Form 990 in Tab 3
may not serve as a substitute for the above listed information.
TAB 6. Certification of Board of Directors
Each Board member must certify annually that he or she “has read and understands the
requirements set forth in 13 CFR 120.823”. Certifications must be individually signed and dated
by each Board member.