Lehman Brothers Bank CRA Investments and Donations for 2006, 2005 and 2004

To view our CRA information select a title from below

2006 Donation to Wilmington Youth Rowing Association, Wilmington, DE Lehman Brothers Bank supports the Wilmington Youth Rowing Association’s (‘WYRA”) Row For It! summer rowing camp.  The mission of the WYRA is to introduce the team sport of rowing to area youth, many of whom are deemed “at risk” because of the neighborhoods in which they reside or because of a fragile family structure.  Through donations, the WYRA is able to uphold its mission and allow low- and moderate-income youth to participate in the summer camp program by waiving the attendance fee.  Many of the camp attendees have been recruited by and received rowing scholarships to leading colleges and universities.    Wilmington Youth Rowing Association Common Ground Community Lehman Brothers Bank contributed funds to Common Ground Community (CGC). CGC is a non-profit housing and community development organization whose primary mission is the provision of supportive housing within New York City. One of the key strategies CGC employs to meet its mission of supportive housing is creating affordable housing with on-site social services. Over the past 14 years, CGC has developed more than 1,500 units of supportive housing in Manhattan. CGC has set a goal of providing the city of New York with 4,000 housing units in the next 10 years.    Common Ground Community Donation to Housing and Neighborhood Development Services, Inc. Lehman Brothers Bank has contributed significantly to Housing and Neighborhood Development Services, Inc. (HANDS). HANDS is a non-profit organization committed to the revitalization of neighborhoods in Orange and East Orange, New Jersey. The stated mission of HANDS is to keep Orange and East Orange “good places to raise a family.” Their strategy is built upon a working philosophy that neighborhoods are revitalized by the actions of hundreds of individuals investing their time, funds, energy and hopes in the future of that neighborhood.    Housing and Neighborhood Development Services, Inc. Donation to the New Jersey Community Development Corporation, Paterson, NJ Lehman Brothers Bank supports the New Jersey Community Development Corporation (“NJCDC”). NJCDC is a private, non-profit community development and social service agency founded in 1994 and based in the city of Paterson, NJ.  NJCDC develops and operates supportive housing for individuals with special needs, including the developmentally disabled, the mentally ill, and youth aging-out of foster care.  In addition, NJCDC operates education and job training programs for residents of the city.    New Jersey Community Development Corporation Purchase of Delaware State Housing Bonds In 2000, 2003 and 2006, Lehman Brothers Bank made significant purchases of Delaware State Housing Authority Bonds.  The Delaware State Housing Authority’s functions are to provide home ownership, affordable rental housing, and both housing and community rehabilitation assistance.  Funding is derived from the issuance of revenue bonds. Delaware State Housing Authority 2005 Donation to West End Neighborhood House Cornerstone West Program, Wilmington, DE Lehman Brothers Bank contributes annually to the Cornerstone West Program, the housing component of the West End Neighborhood House in Wilmington, DE. In 2005, the Bank supported the creation of Cornerstone's individual development accounts program ("IDAs"). The Cornerstone West Program revitalizes neighborhoods that have been in decline within the city of Wilmington by purchasing, rehabilitating and reselling homes.  The homes are sold to first time homebuyers that qualify as having low-moderate income and who have successfully completed credit and homeownership counseling. West End Neighborhood House CRA Fund of Small Business Investment Companies II Lehman Brothers Bank made a substantial commitment to the CRA Fund of SBICs, II. The fund invests in a diversified portfolio of SBIC's throughout the United States. However, it has allocated 100% of the Bank's commitment to the Northeast region, covering all assessment areas of the Bank. Donation to Wilmington Youth Rowing Association, Wilmington, DE Lehman Brothers Bank supports the Wilmington Youth Rowing Association’s (‘WYRA”) Row For It! summer rowing camp.  The mission of the WYRA is to introduce the team sport of rowing to area youth, many of whom are deemed “at risk” because of the neighborhoods in which they reside or because of a fragile family structure.  Through donations, the WYRA is able to uphold its mission and allow low- and moderate-income youth to participate in the summer camp program by waiving the attendance fee.  Many of the camp attendees have been recruited by and received rowing scholarships to leading colleges and universities.    Wilmington Youth Rowing Association Purchase of CRA Qualified Investment Fund Shares (Nasdaq Symbol: CRAIX) The CRA Qualified Investment Fund is a CRA-eligible mutual fund whose shares are deemed qualified under the Community Reinvestment Act. Through its investment in shares of the CRA Qualified Investment Fund, Lehman Brothers Bank has made substantial investments in New Jersey Housing and Mortgage Finance Authority Multi-Family Housing Revenue Bonds, which will finance affordable multi-family properties in New Jersey, and a Ginnie Mae Pool financing the mortgage restructuring of an affordable multifamily rental property in Wilmington, DE. CRA Qualified Investment Fund Donation to West End Neighborhood House Security Deposit Loan Program, Wilmington, DE Lehman Brothers Bank supports the West End Neighborhood House Loan Security Deposit Program in Wilmington, DE. The program helps families statewide by providing the needed monies to relocate into safe, affordable housing.  Relocation costs can include security deposits, utility deposits and moving vendors.  The program also offers full case management and assistance with credit establishment/re-establishment. West End Neighborhood House 2004 Donation to West End Neighborhood House Cornerstone West Program, Wilmington, DE Lehman Brothers Bank contributes annually to the Cornerstone West Program, the housing component of the West End Neighborhood House in Wilmington, DE. The Cornerstone West Program revitalizes neighborhoods that have been in decline within the city of Wilmington by purchasing, rehabilitating and reselling homes.  The homes are sold to first time homebuyers that qualify as having low-moderate income and who have successfully completed credit and homeownership counseling. West End Neighborhood House Donation to West End Neighborhood House Security Deposit Loan Program, Wilmington, DE The Bank supports the West End Neighborhood House Loan Security Deposit Program in Wilmington, DE. The program helps families statewide by providing the needed monies to relocate into safe, affordable housing.  Relocation costs can include security deposits, utility deposits and moving vendors.  The program also offers full case management and assistance with credit establishment/re-establishment. West End Neighborhood House Fund Commitment to Pinecreek Partners, Alpine Equity, LLC Lehman Brothers Bank has a significant commitment to Alpine Equity, LLC, an SBIC that invests in small businesses located in the mid-Atlantic east cost region of the United States.  Industries of interest for small business investment include outsourced financial services, educational products and services, and select consumer products such as products for the elderly or sporting goods. Fund Commitment to Ironwood Capital Lehman Brothers Bank has a significant commitment to Ironwood Equity Fund LP, a Small Business Investment Company (“SBIC”) with a particular interest in businesses located in low- and moderate-income areas.  Investments are located in the eastern United States, in which the Bank has its designated MSAs (Metropolitan Staistical Areas).  Industries of interest for small business investments include healthcare products and services, manufacturing, business services, and consumer products and services.