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PROVIDE LOW-COST COMMUNITY DEVELOPMENT PROJECT LOANS
Source: IRS Form 990 (Tax Year 2024)
Source: IRS Form 990 via ProPublica Nonprofit Explorerⓘ Leadership data below reflects a more recent filing (Tax Year 2024) from the IRS e-file system.
Total Revenue
▼$15.7M
Total Contributions
$6.8M
Total Expenses
▼$10.2M
Total Assets
$180M
Total Liabilities
▼$127.4M
Net Assets
$52.6M
Officer Compensation
→$960.6K
Other Salaries
$2.7M
Investment Income
▼$1.3M
Fundraising
▼$0
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$22.4M
Awards Found
14
Department of the Treasury
$4.7M
PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of the Treasury
$625K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Department of the Treasury
$510K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
10
Clean Audits
10
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $18.4M | Yes | 2026-06-04 |
| 2024 | Clean | Unmodified (Clean) | $19.2M | Yes | 2025-05-30 |
| 2023 | Clean | Unmodified (Clean) | $25.5M | Yes | 2024-06-29 |
| 2022 | Clean | Unmodified (Clean) | $21.5M | Yes | 2023-05-14 |
| 2021 | Clean | Unmodified (Clean) | $24.5M | Yes | 2022-05-15 |
| 2020 | Clean | Unmodified (Clean) | $36M | Yes | 2021-05-05 |
| 2019 | Clean | Unmodified (Clean) | $15.1M | Yes | 2020-05-04 |
| 2018 | Clean | Unmodified (Clean) | $12.8M | Yes | 2019-05-01 |
| 2017 | Clean | Unmodified (Clean) | $12.1M | No | 2018-05-21 |
| 2016 | Clean | Unmodified (Clean) | $7.8M | No | 2017-05-15 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$18.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$19.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$25.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$21.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$24.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$36M
Financial Report
Unmodified (Clean)
Federal Expenditure
$15.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$12.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$12.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$7.8M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023 | $15.7M | $6.8M | $10.2M | $180M | $52.6M |
| 2022 | $14.6M | $7M | $8.5M | $158.9M | $46.7M |
| 2021 | $16.9M | $10.4M | $7.4M | $136.7M | $41.9M |
| 2020 | $11.3M | $5.3M | $9.2M | $121.3M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS Form 990 via ProPublica Nonprofit Explorer (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File · ProPublica Nonprofit Explorer
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Robert Tucker | Interim President And COO | 50 | $356.8K | $0 | $52.8K | $409.6K |
| Calvin Holmes | President | 55 | $350K | $0 | $33.8K | $383.7K |
| Angela Dowell | Chief Financial Officer | 50 | $255.1K | $0 | $34.2K | $289.2K |
| Erik Hall | Chair | 0.5 | $0 | $0 | $0 | $0 |
| Sonya Malunda | Vice Chair | 0.3 | $0 | $0 | $0 | $0 |
| Charles Walls | Treasurer | 0.4 | $0 | $0 | $0 | $0 |
| Ailisa Herrera | Secretary | 0.8 | $0 | $0 | $0 | $0 |
| Patricia Mccreary Cannon | Assistant Secretary | 0.5 | $0 | $0 | $0 | $0 |
| Kevin Goldsmith | Assistant Secretary | 0.3 | $0 | $0 | $0 | $0 |
Robert Tucker
Interim President And COO
$409.6K
Hrs/Wk
50
Compensation
$356.8K
Related Orgs
$0
Other
$52.8K
Calvin Holmes
President
$383.7K
Hrs/Wk
55
Compensation
$350K
Related Orgs
$0
Other
$33.8K
Angela Dowell
Chief Financial Officer
$289.2K
Hrs/Wk
50
Compensation
$255.1K
Related Orgs
$0
Other
$34.2K
Erik Hall
Chair
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Sonya Malunda
Vice Chair
$0
Hrs/Wk
0.3
Compensation
$0
Related Orgs
$0
Other
$0
Charles Walls
Treasurer
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
Ailisa Herrera
Secretary
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Patricia Mccreary Cannon
Assistant Secretary
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Kevin Goldsmith
Assistant Secretary
$0
Hrs/Wk
0.3
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Lycrecia Parks | Chief Risk Officer & VP Po | 50 | $223.4K | $0 | $26.8K | $250.3K |
| Juan Calixto | EVP Of Ext. Relations | 50 | $201.6K | $0 | $35K | $236.7K |
| Wendell Harris | VP Lending Operations | 50 | $208.8K | $0 | $25.7K | $234.5K |
| Maurice Williams | VP Econ. Development | 50 | $193.4K | $0 | $34.3K | $227.6K |
| Robin Schabes | Opportunity Zones Consorti | 50 | $184.6K | $0 | $25.1K | $209.7K |
Lycrecia Parks
Chief Risk Officer & VP Po
$250.3K
Hrs/Wk
50
Compensation
$223.4K
Related Orgs
$0
Other
$26.8K
Juan Calixto
EVP Of Ext. Relations
$236.7K
Hrs/Wk
50
Compensation
$201.6K
Related Orgs
$0
Other
$35K
Wendell Harris
VP Lending Operations
$234.5K
Hrs/Wk
50
Compensation
$208.8K
Related Orgs
$0
Other
$25.7K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Andrew Hugger | Director | 0.4 | $0 | $0 | $0 | $0 |
| Angela Hurlock | Director | 0.2 | $0 | $0 | $0 | $0 |
| Dr Amara Enyia | Director | 0.2 | $0 | $0 | $0 | $0 |
| Edward Hoynes | Director | 0.3 | $0 | $0 | $0 | $0 |
| Eric Phillips | Director | 0.3 | $0 | $0 | $0 | $0 |
| Jeff Allen | Director | 0.5 |
Andrew Hugger
Director
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
Angela Hurlock
Director
$0
Hrs/Wk
0.2
Compensation
$0
Related Orgs
$0
Other
$0
Dr Amara Enyia
Director
$0
Hrs/Wk
0.2
Compensation
$0
Related Orgs
$0
Other
$0
| $32.6M |
| 2019 | $8.9M | $3.2M | $7.4M | $104.8M | $30.5M |
| 2018 | $7.9M | $3.1M | $6.1M | $91.1M | $28.6M |
| 2017 | $9.9M | $5.5M | $4.7M | $80M | $26.8M |
| 2016 | $7M | $2.9M | $5M | $71.8M | $21.6M |
| 2015 | $6M | $2.3M | $4.2M | $64.7M | $19.8M |
| 2014 | $8M | $5.1M | $4.3M | $60.1M | $18.3M |
| 2013 | $3.5M | $1M | $2.8M | $44.5M | $14.2M |
| 2012 | $4.8M | $2.4M | $2.6M | $35.1M | $14.1M |
| 2011 | $6.2M | $4.4M | $2.9M | $31.8M | $12.2M |
PDF not yet published by IRSView Filing → |
| 2021 | 990 | Data |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
Maurice Williams
VP Econ. Development
$227.6K
Hrs/Wk
50
Compensation
$193.4K
Related Orgs
$0
Other
$34.3K
Robin Schabes
Opportunity Zones Consorti
$209.7K
Hrs/Wk
50
Compensation
$184.6K
Related Orgs
$0
Other
$25.1K
| $0 |
| $0 |
| $0 |
| $0 |
| Jennifer Guzman | Director | 0.4 | $0 | $0 | $0 | $0 |
| Jody Adler | Director | 0.5 | $0 | $0 | $0 | $0 |
| John Tuohy | Director | 0.3 | $0 | $0 | $0 | $0 |
| Kathy Tholin | Director | 0.3 | $0 | $0 | $0 | $0 |
| Mark Spears | Director | 0.7 | $0 | $0 | $0 | $0 |
| Matthew Reilein | Director | 0.4 | $0 | $0 | $0 | $0 |
| Mohammed Elahi | Director | 0.4 | $0 | $0 | $0 | $0 |
| Richard Guzman | Director | 0.2 | $0 | $0 | $0 | $0 |
| Stephanie Green | Director | 0.5 | $0 | $0 | $0 | $0 |
| Thomas Fitzgibbon | Director | 0.4 | $0 | $0 | $0 | $0 |
Edward Hoynes
Director
$0
Hrs/Wk
0.3
Compensation
$0
Related Orgs
$0
Other
$0
Eric Phillips
Director
$0
Hrs/Wk
0.3
Compensation
$0
Related Orgs
$0
Other
$0
Jeff Allen
Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Jennifer Guzman
Director
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
Jody Adler
Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
John Tuohy
Director
$0
Hrs/Wk
0.3
Compensation
$0
Related Orgs
$0
Other
$0
Kathy Tholin
Director
$0
Hrs/Wk
0.3
Compensation
$0
Related Orgs
$0
Other
$0
Mark Spears
Director
$0
Hrs/Wk
0.7
Compensation
$0
Related Orgs
$0
Other
$0
Matthew Reilein
Director
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
Mohammed Elahi
Director
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
Richard Guzman
Director
$0
Hrs/Wk
0.2
Compensation
$0
Related Orgs
$0
Other
$0
Stephanie Green
Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Thomas Fitzgibbon
Director
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0