Evergreen Fund Administration

Private Mortgage Funds Should Focus on Loan Origination, Not Accounting

Evergreen professionally handles your, accounting, financial tracking, and reporting so you can focus on what you do best, real estate lending. Our experience in both loan servicing and private equity lending are supported by people and technology built for the visionary leaders in Real Estate and Private Lending in mind. We can handle even the most complex funds.

We provide comprehensive financial accounting services, including:

• Provide year-end tax and audit support
• All types of pooled investment funds, syndications, LLC, partnership, and management entities
• Maintain general ledger
• Produce financial statement packages
• Calculate Net Asset Value
• Maintain investment support schedules
• Calculate income and expense accruals
• Calculate management fees and carried interest
• Dedicated Fund Accountant, with detailed knowledge of your offering

We offer discounts on our fund administration services if you use Evergreen Note Servicing to service your loans.

Evergreen has the specialized software, experience and expertise to administer most types of Mortgage Funds, including Share Based Partnerships and Capital Funds Partnerships. Administration Services include:

• Process Partners’ original and additional subscriptions for shares, as well as requests for full or partial withdrawals.
• Mail a detailed Statement of Account to an Investor after a subscription or withdrawal transaction.
• Mail detailed Statements of Account to all Investors on a regular basis (monthly or quarterly as established by the Mortgage Fund Manager).
• Reconcile Share Values and Equity balances (depending on the type of Mortgage Fund) daily to ensure accuracy.
• On a daily basis, maintain accrual accounts in the partnership, such as Reserve for Loan Losses and Reserve for Franchise Taxes. Other accruals are available, based on the needs of the Mortgage Fund Manager. The accrual schedules need to be provided by your accountant.
• Provide test distribution reports to Mortgage Fund Managers to allow them to see what their proposed distribution will look like prior to it being made. The total distribution amount is provided by your accountant based on the General Ledger.
• Mail distribution checks to partners (monthly or quarterly, as established by the Mortgage Fund Manager).
• Maintain a record of outstanding bank (or other) loans or lines of credit used to provide temporary gap financing to fund loans prior to receiving new or additional partnership subscriptions.
• Reconcile bank accounts several times a month to maintain accuracy of our records and Share Values.
• Provide the Mortgage Fund Manager and/or the Manager’s accountant with a myriad of reports, including detailed Partnership Statements and Partnership Share Evaluation Audit Reports (that provide a quick snapshot of the elements that makes up the Partnership Value, Number of Shares Outstanding and the Per Share Value). The frequency of these reports can be customized to meet the needs of Mortgage Fund Managers and/or their accountants.
• Provide monthly ERISA reports. This report reflects the Ending Capital of ERISA Partners as a percentage of the Ending Capital of all Partners so that these types of accounts won’t unknowingly exceed the typical 25% ERISA limitation.
• Provide year-end reports to the Mortgage Fund Manager’s accountant to assist them in the preparation of year-end K-1 Schedules.
• In the event of actions such as forced placed insurance, foreclosure expenses, REO expenses, etc., maintain a record of advances made by the partnership.
• Transactions processed by the Manager or accountant need to be reported to us via email using a transaction form that we provide.