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Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$15.3M
Program Spending
91%
of total expenses go to program services
Total Contributions
$11.7M
Total Expenses
▼$12.1M
Total Assets
$74.2M
Total Liabilities
▼$43.8M
Net Assets
$30.4M
Officer Compensation
→N/A
Other Salaries
$2.3M
Investment Income
$3.3M
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$23.6M
Awards Found
13
Department of the Treasury
$5.3M
PURPOSE: TO ATTRACT FINANCING FOR AND INCREASE INVESTMENT IN AFFORDABLE HOUSING FOR PRIMARILY LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME PEOPLE AND FOR CERTAIN RELATED ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES. PLANNED ACTIVITIES: THROUGH COMPETITIVE GRANTS, THE CAPITAL MAGNET FUND (CMF) PROVIDES CAPITAL TO FINANCE AND SUPPORT AFFORDABLE HOUSING AND RELATED ECONOMIC DEVELOPMENT. END GOALS: EXPECTED OUTCOMES INCLUDE INCREASED PRIVATE INVESTMENT IN THE ACQUISITION, DEVELOPMENT, REHABILITATION, AND PRESERVATION OF AFFORDABLE RENTAL HOUSING AND HOMEOWNERSHIP. BENEFICIARIES: CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION; PRIVATE NONPROFIT HOUSING ORGANIZATIONS, PUBLIC NONPROFIT INSTITUTION/ORGANIZATION. LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME INDIVIDUALS AND FAMILIES AS SET FORTH IN 12 C.F.R. PART 1807, AS AMENDED. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of the Treasury
$4.1M
PURPOSE: TO ATTRACT FINANCING FOR AND INCREASE INVESTMENT IN AFFORDABLE HOUSING FOR PRIMARILY LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME PEOPLE AND FOR CERTAIN RELATED ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES. PLANNED ACTIVITIES: THROUGH COMPETITIVE GRANTS, THE CAPITAL MAGNET FUND (CMF) PROVIDES CAPITAL TO FINANCE AND SUPPORT AFFORDABLE HOUSING AND RELATED ECONOMIC DEVELOPMENT. END GOALS: EXPECTED OUTCOMES INCLUDE INCREASED PRIVATE INVESTMENT IN THE ACQUISITION, DEVELOPMENT, REHABILITATION, AND PRESERVATION OF AFFORDABLE RENTAL HOUSING AND HOMEOWNERSHIP. BENEFICIARIES: CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION; PRIVATE NONPROFIT HOUSING ORGANIZATIONS, PUBLIC NONPROFIT INSTITUTION/ORGANIZATION. LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME INDIVIDUALS AND FAMILIES AS SET FORTH IN 12 C.F.R. PART 1807, AS AMENDED. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of the Treasury
$3.7M
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
$660K
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
$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.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
6
Clean Audits
6
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $4.8M | Yes | 2026-07-01 |
| 2024 | Clean | Unmodified (Clean) | $11.4M | Yes | 2025-06-03 |
| 2023 | Clean | Unmodified (Clean) | $13.3M | Yes | 2024-06-18 |
| 2022 | Clean | Unmodified (Clean) | $48M | No | 2023-06-28 |
| 2021 | Clean | Unmodified (Clean) | $1.4M | No | 2022-06-28 |
| 2016 | Clean | Unmodified (Clean) | $935.2K | Yes | 2017-05-01 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$11.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$13.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$48M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$935.2K
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 |
|---|---|---|---|---|---|
| 2024IRS e-File | $15.3M | $11.7M | $12.1M | $74.2M | $30.4M |
| 2023 | $21.5M | $18.8M | $20.2M | $68.1M | $27.1M |
| 2022 | $55.5M | $53.6M | $50.8M | $60.7M | $26.2M |
| 2021 | $41.2M | $39.8M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Brian Argrett | Chairman Of The Board | 1 | $0 | $0 | $0 | $0 |
| Shannon Scott | Treasurer | 1 | $0 | $0 | $0 | $0 |
| Mary Ann Donovan | Secretary | 1 | $0 | $0 | $0 | $0 |
| David Mcgrady | Vice-chairman Of The Board | 1 | $0 | $0 | $0 | $0 |
Brian Argrett
Chairman Of The Board
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Shannon Scott
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mary Ann Donovan
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
David Mcgrady
Vice-chairman Of The Board
$0
Hrs/Wk
1
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 |
|---|---|---|---|---|---|---|
| Oswaldo Acosta | President And Chief Executive Officer | 40 | $362.6K | $0 | $0 | $362.6K |
| Rodrigo Cordon | Chief Operating Officer | 40 | $191.5K | $0 | $0 | $191.5K |
| Jonathan Reyes | Chief Lending Officer | 40 | $168.4K | $0 | $0 | $168.4K |
| Stephanie Meyer | Chief Credit Officer | 40 | $148.2K | $0 | $0 | $148.2K |
Oswaldo Acosta
President And Chief Executive Officer
$362.6K
Hrs/Wk
40
Compensation
$362.6K
Related Orgs
$0
Other
$0
Rodrigo Cordon
Chief Operating Officer
$191.5K
Hrs/Wk
40
Compensation
$191.5K
Related Orgs
$0
Other
$0
Jonathan Reyes
Chief Lending Officer
$168.4K
Hrs/Wk
40
Compensation
$168.4K
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Amber Kucher Bell | Director | 1 | $0 | $0 | $0 | $0 |
| Chuck Muckenfuss | Director | 1 | $0 | $0 | $0 | $0 |
| Dr William Longbrake | Director | 1 | $0 | $0 | $0 | $0 |
| Estrella Lucero | Director | 1 | $0 | $0 | $0 | $0 |
| Lori Chatman | Director | 1 | $0 | $0 | $0 | $0 |
| Priya Jayachandran | Director |
Amber Kucher Bell
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Chuck Muckenfuss
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Dr William Longbrake
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Individuals who previously served as officers or key employees.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Shannon Nys | Former Director Of Finance & Accounting | 40 | $157.4K | $0 | $0 | $157.4K |
Shannon Nys
Former Director Of Finance & Accounting
$157.4K
Hrs/Wk
40
Compensation
$157.4K
Related Orgs
$0
Other
$0
| $41M |
| $50.6M |
| $30.1M |
| 2020 | $13.3M | $12.1M | $11.2M | $33.3M | $23.2M |
| 2019 | $710.2K | $174.7K | $1.1M | $27.6M | $20.9M |
| 2018 | $1.2M | $585.6K | $906.3K | $24.2M | $20.5M |
| 2017 | $1.2M | $692.4K | $1.3M | $22M | $20M |
| 2016 | $2.1M | $1.7M | $1.1M | $20.6M | $20M |
| 2015 | $3.2M | $3M | $1.6M | $18.9M | $18.5M |
| 2014 | $4.4M | $4.2M | $2.7M | $18.6M | $16.7M |
| 2013 | $2.5M | $1.5M | $2.2M | $14.8M | $14.6M |
| 2012 | $3.9M | $3.7M | $1.1M | $14M | $13.9M |
| 2011 | $5.9M | $5.7M | $6M | $12.3M | $10.6M |
| 2021 | 990 | DataIRS e-File |
| 2020 | 990 | Data |
| 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 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
Stephanie Meyer
Chief Credit Officer
$148.2K
Hrs/Wk
40
Compensation
$148.2K
Related Orgs
$0
Other
$0
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
Estrella Lucero
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Lori Chatman
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Priya Jayachandran
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0