AFRICAN AMERICAN ALLIANCE OF CDFI CEOS
AFRICAN AMERICAN ALLIANCE
Community Development Financial Institutions
MEMBER PROFILES
SEPTEMBER 2020
MEMBER PROFILES JAMES H. BASON
Title: President and CEO Length of time in current position: 9 years Years of experience in community and economic development: 26 years
ORGANIZATION PROFILE
Name: TruFund Financial Services Address: 39 West 37th Street, New York, NY 10018 Website Address: www.Trufund.org Year Formed: 2006
Mission Statement
TruFund provides responsible and affordable capital paired with training and advisement to support disadvantaged small businesses, specifically minority- and women-owned small businesses (MWBEs), as well as businesses that operate in low- income and distressed communities so they can increase incomes, create jobs, and build wealth.
Asset Size: Net Assets = $13.9 million Target Market: New York, Louisiana and Alabama
4 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS WATCHEN HARRIS BRUCE
Title: President and CEO Length of time in current position: 9 months Years of experience in community and economic development: 30+ years
ORGANIZATION PROFILE
Name: Baltimore Community Lending Address: 875 Hollins Street, Suite 301, Baltimore, MD 21201 Website Address: www.bclending.org Year Formed: 1989
Mission Statement
Baltimore Community Lending (BCL) supports the revitalization and strengthening of underserved Baltimore neighborhoods through innovative and flexible resources designed to promote community development.
Asset Size: $24 million Target Market: Established in 1989, BCL invests in the minority- and women-owned businesses that generate jobs, and in community-based projects that create affordable housing and community facilities. BCL serves a Target Market of the City of Baltimore.
5 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS BILL BYNUM
Title: Chief Executive Officer Length of time in current position: 26 years Years of experience in community and economic development: 37 years
ORGANIZATION PROFILE
Name: HOPE (Hope Enterprise Corp. & Hope Credit Union) Address: 4 Old River Place, Jackson, MS 39202 Website Address: www.hopecu.org Year Formed: 1994
Mission Statement
HOPE provides financial services, aggregates resources, forges alliances and engages in advocacy to mitigate the extent to which factors such as race, gender, birthplace and wealth limit one’s ability to prosper.
Asset Size: $485.2 million as of 12/31/19. (Hope Enterprise Corporation: $177.5 million; Hope Credit Union: $307.7 million)
Target Market: Economically vulnerable people and places in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee
6 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS TERESE CARO
Title: President Length of time in current position: 4 months Years of experience in community and economic development: 17 years
ORGANIZATION PROFILE
Name: Legacy Redevelopment Corporation Address: 1536B W. North Ave. Milwaukee, WI 53205 Website Address: www.lrcmke.com Year Formed: 2003
Mission Statement
As a nonprofit Community Development Financial Institution (CDFI), LRC provides strategic lending solutions and ongoing support to Milwaukee’s small businesses and nonprofit organizations to foster financial independence, sustain growth and revitalize communities.
Asset Size: $9,521,000 Target Market: City of Milwaukee
7 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS ELLIS CARR
Title: President and CEO Length of time in current position: 3 years Years of experience in community and economic development: 6.5 years
ORGANIZATION PROFILE
Name: Capital Impact Partners Address: 1400 Crystal Drive Suite 500 Arlington, VA 22202 Website Address: www.capitalimpact.org Year Formed: 1982
Mission Statement
Through capital and commitment, Capital Impact Partners helps people build communities of opportunity that break barriers to success.
Asset Size: $526 million Target Market: Five core geographies: 1) Washington, DC metro area; 2) Texas Triangle (San Antonio, Houston, Dallas); 3) Great Lakes region (Cleveland and northern Ohio, Michigan) 4) California (LA, Sacramento, San Diego, Oakland-San Francisco Metro Area 5) NY Metro/NJ/CT
8 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS LORI CHATMAN
Title: President Length of time in current position: 11 years Years of experience in community and economic development: 28 years
ORGANIZATION PROFILE
Name: Enterprise Community Loan Fund, Inc. Address: 11000 Broken Land Parkway, Suite 700, Columbia, MD 21044 Website Address: www.enterprisecommunity.org Year Formed: 1997
Mission Statement:
Enterprise Community Loan Fund’s mission is to deliver innovative financial products and technical assistance to mission-aligned organizations to acquire, develop and preserve quality affordable housing for low- and moderate- income families, and to revitalize their communities by providing access to good jobs, quality affordable housing, schools, transportation and health living environments.
Asset Size: $274.6 million Target Market: National
9 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS DELLA CLARK
Title: President and CEO Length of time in current position: 28 years Years of experience in community and economic development: 30 years
ORGANIZATION PROFILE
Name: The Enterprise Center Address: 4548 Market Street, Philadelphia, PA 19139 Website Address: www.theenterprisecenter.com Year Formed: 1989
Mission Statement:
Founded in 1989 by Wharton Small Business Development Center, The Enterprise Center provides access to capital, capacity building, business education and economic development opportunities to high-potential, minority entrepreneurs. Through our portfolio of business- acceleration initiatives, TEC seeks to better position minority enterprises to compete in the local, regional, and global economies. TEC core initiatives include: • MBDA Business Center – Pennsylvania • Mid-Atlantic Small Business Transportation Resource Center • TEC Community Development Corporation • TEC Capital Corporation, CDFI
Asset Size: $14 million Target Market: The Greater Philadelphia Region
10 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS MARSHALL E. CRAWFORD, JR.
Title: President and CEO Length of time in current position: 18 months Years of experience in community and economic development: 16 years
ORGANIZATION PROFILE
Name: The Housing Fund, Inc. Address: 305 11th Ave South Nashville, TN 37203 Website Address: www.thehousingfund.org Year Formed: 1996
Mission Statement
The Housing Fund provides resources and creative leadership to help individuals and communities create and maintain affordable and healthy places in which low- and moderate-income families live.
Asset Size: $25 million Target Market: Low- and moderate-income families and communities throughout the state of Tennessee.
11 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS E. HAMIL DOUGLAS
Title: Chief Operating Officer – Harlem Commonwealth Council, Inc. (HCC) Managing Director – Harlem Entrepreneurial Fund (HEF) Length of time in current position: 6 months Years of experience in community and economic development: 5 years
ORGANIZATION PROFILE
Name: Harlem Commonwealth Council, Inc., Harlem Entrepreneurial Fund Address: 361 West 125th Street, New York, NY 10027 Website Address: www.hefnyc.org Year Formed: 1967 (HCC) 2007 (HEF)
Mission Statement
To create jobs, provide access to capital, and build the strength of small businesses owned by residents of its target market.
Asset Size: $18 million+ Target Market: Harlem, Upper Manhattan, The Bronx and Queens in New York City.
12 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS BLAIR M. DUNCAN
Title: President and CEO Length of time in current position: 2 years Years of experience in community and economic development: 17 years
ORGANIZATION PROFILE
Name: Upper Manhattan Empowerment Zone Development Corporation Address: 55 West 125th Street, 11th Floor, New York, New York 10027 Website Address: www.UMEZ.org Year Formed: 1996
Mission Statement
Sustaining the economic revitalization of all communities in Upper Manhattan through job creation, corporate alliances, strategic investments, and small business assistance.
Asset Size: $87 million (June 30, 2019) Target Market: Upper Manhattan and New York City
13 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS VICTOR J. ELMORE
Title: President and CEO Length of time in current position: 14.5 years Years of experience in community and economic development: 37 years
ORGANIZATION PROFILE
Name: Texas Mezzanine Fund, Inc. Address: 320 S. R.L. Thornton Frwy., Suite 110, Dallas, TX 75203 Website Address: www.tmfund.com Year Formed: 1999
Mission Statement
Mission of the Texas Mezzanine Fund, Inc. (TMF) is to: • Encourage investments in low and moderate income and rural communities; • Finance growth and expansion of minority and women owned businesses; • Create jobs with an emphasis on low and moderate income persons; • Provide financing to non-profit and for-profit developers of affordable housing; and, • Finance needed community facilities.
Asset Size: $26.5 million Target Market: State of Texas
14 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS VAUGHN R. FAURIA
Title: President/Executive Director Length of time in current position: 23 years Years of experience in community and economic development: 25 years
ORGANIZATION PROFILE
Name: NewCorp, Inc. Address: 2533 Columbus St. Suite 204 New Orleans, LA 70119 Website Address: www.newcorpinc.com Year Formed: 1995
Mission Statement
NewCorp, Inc. formed in 1995, is a certified Community Development Institution (CDFI ) whose mission is to be an economic development catalyst by providing technical and financial assistance to small and emerging disadvantaged businesses, women-owned businesses, and veteran-owned businesses to improve their basic business capabilities by way of training, counseling, planning and financial products and services.
Asset Size: $10 million Target Market: Black, minority, and underserved Small Businesses throughout the state of Louisiana.
15 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS DONNA GAMBRELL
Title: President and CEO Length of time in current position: 3 years Years of experience in community and economic development: 28 years
ORGANIZATION PROFILE
Name: Appalachian Community Capital Address: 100 Peppers Ferry Road NW, Christiansburg, VA 24073 Website Address: www.appalachiancommunitycapitalcdfi.org Year Formed: 2013
Mission Statement
Appalachian Community Capital’s (ACC) mission is to increase small business lending by providing Appalachian member institutions that serve under-served people and communities with new sources of capital.
Asset Size: $19 million Target Market: ACC members (CDFIs and other mission-based lenders0 located in and serving the Appalachian Region, which is comprised of all of West Virginia and rural counties in Alabama, Kentucky, Georgia, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia.
16 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS VANDELL HAMPTON, JR.
Title: President and CEO Length of time in current position: 16 years Years of experience in community and economic development: 25 years
ORGANIZATION PROFILE
Name: True Access Capital Address: 100 W. 10th Street, Suite 300, Wilmington, DE 19801 Website Address: www.trueaccesscapital.org Year Formed: 1992
Mission Statement
True Access Capital’s mission is to educate, empower, and elevate business owners and entrepreneurs by augmenting technical expertise, increasing access to capital and stimulating business growth throughout Delaware and southeastern Pennsylvania.
Asset Size: $12.9 million Target Market: • The State of Delaware • Southeastern Pennsylvania – Bucks, Chester, Delaware, Montgomery and Philadelphia Counties
17 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS ANDREA DAVIS HENDRICKS
Title: Executive Director Length of time in current position: April 4, 2011 to Present Years of experience in community and economic development : 26 years
ORGANIZATION PROFILE Name: Small Business Capital Fund of MS, Inc. (Non-profit CDFI); Sister companies: Jackson/Hinds City Loan Program (For-profit-2000); SBCF Financial Services, LLC (For-profit – Consumer/Commercial-2018) Address: 802 North Street Jackson MS 39202 Website Address: www.sbcf-ms.org Year Formed: 1994
Mission Statement The mission of the Small Business Capital Fund of Mississippi, Inc. (SBCF) is to provide non- traditional financing and technical assistance to small businesses located in Mississippi. SBCF will work to help bridge the gap between majority-owned businesses and minority-owned businesses; and to ensure that small business owners are afforded the same opportunities for success. SBCF will also work to eliminate the disparity that exists and thereby help small businesses grow, create jobs and improve the overall economic condition of the community.
Asset Size: $2,908,893 (for SBCF only). SBCF partner funds are separately housed by SBCF for relending. Target Market/SBCF’s Customer Base: Twofold: 1) SBCF provides relending services for other financial institutions, philanthropic foundations and governmental agencies in support of the small business community in Mississippi, 2) Small businesses in Mississippi, particularly women and minority- owned enterprises. SBCF has funded: Youth and adult daycare centers, hair salons, restaurants, contractors, medical and other professional service providers, mechanics and many others who in turn provide jobs in their local communities.
18 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS LARRY HOLMAN
Title: President and CEO Length of time in current position: 18 years Years of experience in community and economic development: 6 years
ORGANIZATION PROFILE
Name: Beaufort County Black Chamber of Commerce Address: 711 Bladen Street, Beaufort, SC 29902 Website Address: www.bcbcc.org Year Formed: 1999
Mission Statement
To promote economic empowerment and development to help our communities thrive, reduce poverty, and improve the quality of life.
Asset Size: $4.1 million Target Market: Low to moderate income
19 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS CALVIN L. HOLMES
Title: President Length of time in current position: 23 years Years of experience in community and economic development: 30-plus years
ORGANIZATION PROFILE Name: Chicago Community Loan Fund (CCLF) Address: 29 E. Madison Street, Suite 1700, Chicago, IL 60602 Website Address: www.cclfchicago.org Year Formed: 1991
Mission Statement The mission of Chicago Community Loan Fund is to provide flexible, affordable and responsible financing and technical assistance for community stabilization and development efforts and initiatives that benefit low- to moderate-income neighborhoods, families, and individuals throughout metropolitan Chicago. CCLF was founded in 1991 by a group of visionary social- investment advocates. Their aim was to create a flexible nonprofit lender who would fill the community development credit gaps as they emerged across the city and region. In particular, CCLF was created to ensure that Chicago land community developers (including small and emerging groups) would have a lender to turn to for harder-to-underwrite projects and enterprises.
Asset Size: $88 million (as of September 30, 2018) Target Market: CCLF finances positive change in low- and moderate-income communities across the six counties of metropolitan Chicago. CCLF underwrites community projects in affordable and supportive housing, social services, social enterprises, and economic development projects that provide housing, employment opportunities, and goods and services to all residents of the Chicagoland area.
20 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS DONNA HURLEY
Name: Donna Hurley Title: CEO and President Length of time in current position: 15 years Years of experience in community and economic development: 3 years
ORGANIZATION PROFILE
Name: Housing Options and Planning Enterprises, Inc. Address: 6188 Oxon Hill Road, Suite 700, Oxon Hill, MD 20745 Website Address: www.hopefinancial.org Year Formed: 2005
Mission Statement
Our mission to ensure equal access to housing for all through counseling, education, advocacy, and community revitalization. Our services foster self-sufficiency, sustainable housing, and economic development.
Asset Size: $730,000 Target Market: Prince George’s County – Housing
21 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS THELMA ADAMS JOHNSON
Title: President and CEO Length of time in current position: 18 years Years of experience in community and economic development: 25 years
ORGANIZATION PROFILE
Name: ACT! Albany Community Together, Inc Address: 230 S. Jackson St., Ste. 333, Albany, GA 31701 Website Address: www.albanycommunitytogether.com Year Formed: 1997
Mission Statement
The mission of Albany Community Together, Inc. ( ACT!), is building wealth and creating economic opportunities in Southwest Georgia by providing affordable access to capital and business development services to aspiring entrepreneurs and small business owners.
Asset Size: $3.5 million Target Market: African-Americans, Low-Income population, and other people of color.
22 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS MAURICE A. JONES
Title: President and CEO Length of time in current position: 45 months Years of experience in community and economic development: 25 years
ORGANIZATION PROFILE
Name: Local Initiatives Support Corporation Address: 28 Liberty Street, New York, NY 10005 Website Address: www.lisc.org Year Formed: 1979
Mission Statement
The Local Initiatives Support Corporation, known as LISC, is one of the largest organizations supporting projects to revitalize communities and bring greater economic opportunity to residents. These include more affordable housing, better schools, safer streets, growing businesses and programs that improve the financial outlook of people. We provide the capital, strategy and know-how to local partners to get this done. Our work impacts the lives of millions of Americans in both rural areas and urban centers across the country.
Asset Size: $820 million (as of 2018) Target Market: United States
23 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS HILDA KENNEDY
Title: Founder/President Length of time in current position: 15 years Years of experience in community and economic development: 18 years
ORGANIZATION PROFILE
Name: AmPac Business Capital the dba of AmPac Tri-State CDC, Inc. Address: 22365 Barton Rd, Suite 304, Grand Terrace, CA 92313 Website Address: www.ampac.com Year Formed: 2005
Mission Statement
Finance and foster business success at all stages of growth to make communities better and families stronger as Champions of Job Makers – Small Businesses. Provide financing for commercial real estate and equipment through the SBA 504 Loan program; partnering with local governments for Community Centered Loan Programs; SBA Micro Lender and CDFI.
Asset Size: $4.8 million Target Market: Small businesses with special target on businesses in underserved communities, including minority, women and veteran owned businesses. Serving businesses throughout the State of California, with focused attention in Inland Southern California including San Bernardino and Riverside Counties and eastern border of Los Angeles County.
24 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS ERICA L. KING
Title: President Length of time in current position: 5 years Years of experience in community and economic development: 20 years
ORGANIZATION PROFILE
Name: Chicago Neighborhood Initiatives Micro Finance Address: 1000 E. 111th St. Chicago, IL 60628 Website Address: www.cnimfg.org Year Formed: 2012
Mission Statement
The mission of Chicago Neighborhood Initiatives Micro Finance Group (CNIMFG) is to promote community development in primarily in low-to-moderate income communities in and around Chicago. Its small business loans create new and/or higher paying employment opportunities, save existing jobs, support local spending, enhance business profitability to increase household income and/or promote the revitalization of commercial strips and at-risk commercial areas in underserved neighborhoods.
Asset Size: $3.6 million Target Market: CNIMFG’s Target Markets are a 605-census tract investment area (IA) centered on Chicago as well as Low Income Targeted Population (LITP) and Other Targeted Population (OTP) of African Americans in Cook County, IL.
25 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS WILSON LESTER
Title: Executive Director Length of time in current position: 3 years Years of experience in community and economic development: 9 years
ORGANIZATION PROFILE
Name: Piedmont Business Capital Address: 1451 S. Elm-Eugene St., Suite 2121, Greensboro, NC, 27406 Website Address: www.piedmontbusinesscapital.org Year Formed: 2011
Mission Statement
Creating shared economic prosperity through equitable lending and investment.
Asset Size: $850,000 Target Market: Piedmont Triad (North Central North Carolina)
26 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS WILLIE LOGAN
Title: President and CEO Length of time in current position: 39 years Years of experience in community and economic development: 39 years
ORGANIZATION PROFILE
Name: Opa locka Community Development Corporation Address: 490 Opa locka Blvd., Opa locka, FL 33054 Website Address: www.olcdc.org Year Formed: 1980
Mission Statement
The Opa-locka Community Development Corporation (OLCDC) transforms under- resourced communities into vibrant, desirable, engaged neighborhoods by improving access to health, education, employment, art, safety, economic development and affordable housing.
Asset Size: $27.7 million Target Market: Miami Dade county
27 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS INEZ LONG
Title: President and CEO Length of time in current position: 30 years Years of experience in community and economic development: 33 years
ORGANIZATION PROFILE
Name: BBIF Florida Address: 301 East Pine St. Suite 175, Orlando, Florida, 32801 Website Address: www.bbifflorida.com Year Formed: 1987
Mission Statement
Our mission is to develop and promote Black business enterprises through education, training, loans, investments, and other activities and to aggressively promote an atmosphere conducive to their development.
Asset Size: $17.6 million (additional $40 million off books) Target Market: Black, Minority, and Underserved Small Businesses throughout the state of Florida.
28 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS KARAMA NEAL
Title: President Length of time in current position: 2 years Years of experience in community and economic development: 12 years
ORGANIZATION PROFILE
Name: Southern Bancorp Community Partners Address: 8924 Kanis Road, Little Rock, Arkansas 72205 Website Address: www.southernpartners.org Year Formed: 1987
Mission Statement
Southern Bancorp Community Partners’ (SBCP) mission is to create economic opportunity in our target markets across the Mid-South. SBCP works to promote economic mobility by providing responsible and responsive financial services critical to a community’s economic development and an individual’s economic stability.
Asset Size: $33,640,000 Target Market: State of Arkansas and Bolivar, Coahoma, Quitman, Sunflower, Tate, Tunica, and Washington Counties in western Mississippi.
29 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS HAROLD B. PETTIGREW, JR.
Title: Executive Director Length of time in current position: 3 years Years of experience in community and economic development: 17 years
ORGANIZATION PROFILE
Name: Washington Area Community Investment Fund, Inc. Address: 2012 Rhode Island Avenue NE, Washington, DC 20018 Website Address: www.wacif.org Year Formed: 1987
Mission Statement
Established in 1987, Wacif’s mission is to increase equity and opportunity in underserved communities in the Washington, DC area by investing knowledge, social, and financial capital in low- and moderate-income entrepreneurs. Our mission is driven by three strategic investment pillars: inclusive entrepreneurship, community wealth building, and equitable economic opportunity, and is fulfilled by providing access to capital products and services, and technical assistance to low-and moderate-income entrepreneurs.
Asset Size: Total Assets of $4.7 million as of 12/31/2018 Target Market: Washington, DC and Baltimore metropolitan areas
30 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS KEVIN J. PRICE
Title: President and CEO Length of time in current position: 3 months Years of experience in community and economic development: 27 years
ORGANIZATION PROFILE
Name: North Carolina Community Development Initiative Capital, Inc, a subsidiary of the North Carolina Institute of Minority Economic Development Address: 114 West Parrish Street Durham, NC 27701 Website Address: www.theinstitutenc.org Year Formed: 1986
Mission Statement
To strengthen the asset base of diverse populations through policy, education and opportunities
Asset Size: (TBA - Merger underway with NCCDIC)
Target Market • Gap financing of affordable housing: single family and multi-family • Community development corporations and community organizations operating support • HBCUs engagement and support of community economic development activities • Business support: loans and/or equity
31 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS MARK J. ROBERTSON, SR.
Title: President and CEO Length of time in current position: 17 years Years of experience in community and economic development: 27 years
ORGANIZATION PROFILE
Name: Pacific Coast Regional Small Business Development Corporation Address: 3255 Wilshire Blvd., Ste. 1501, Los Angeles, CA 90010 Website Address: www.pcrcorp.org Year Formed: 1977
Mission Statement
The primary mission of Pacific Coast Regional Small Business Development Corporation is the promotion of community economic development through the delivery of financial and educational services to underserved small businesses and communities.
Asset Size: $10 million Target Market: We have a CDFI commitment to do at least 60% of lending and TA (as an SBDC) with African American and Hispanic-owned businesses in the Los Angeles County area. Loans range from $5,000 to $650,000, and TA includes classroom and one-on-one advising.
32 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS EVERETT K. SANDS
Title: CEO Length of time in current position: 5 years Years of experience in community and economic development: 22 years
ORGANIZATION PROFILE
Name: Lendistry Address: 777 S. Alameda Avenue, 2nd Floor, Los Angeles, CA 90021 Website Address: www.lendistry.com Year Formed: 2015
Mission Statement
Lendistry provides economic opportunities and progressive growth for small business owners and their underserved communities as a source of financing and financial education.
Asset Size: $225 million Target Market: National Lender African-Americans/Hispanic & Latinos/LMI/Investment Areas
33 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS NASIBU SAREVA
Title: Executive Director Length of time in current position: 6 years Years of experience in community and economic development: 14 years
ORGANIZATION PROFILE
Name: African Development Center Address: 1931 S 5th Street, Minneapolis, MN 55454 Website Address: www.adcminnesota.org Year Formed: 2002 Year in operation: 2004
Mission Statement
The Mission of the African Development Center is to grow businesses, build wealth, and increase reinvestment in the African communities of Minnesota.
Asset Size: $7.3 million (as of December 31, 2019) Target Market: ADC is dedicated to the economic empowerment and success of African immigrants throughout the state of Minnesota
34 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS KENNETH SCOTT
Title: President/CEO Length of time in current position: 15 Years Years of experience in community and economic development: 25 years
ORGANIZATION PROFILE
Name: Beech Companies (Beech Capital Venture Corporation is our CDFI) Address: 1510 Cecil B. Moore Avenue, Suite 300, Philadelphia, PA. 19121 Website Address: www.beechinterplex.com Year Formed: 1990
Mission Statement
The Beech Companies is made up of several organizations (Beech Interplex, Beech Capital, Beech Community Services, Beech International, Beech, LLC and the Alston-Beech Foundation) that provides comprehensive community services in the underserved communities in the Philadelphia region.
Asset Size: Beech Companies: $100,000,000 Beech Capital: $2,000,000
Target Market: Philadelphia and surrounding counties
35 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS SHELLY M GROSS-WADE
Title: President & CEO Length of time in current position: 22 years Years of experience in community and economic development: 35 years
ORGANIZATION PROFILE
Name: Prince George’s Financial Services Corporation Address: 1801 McCormick Dr #300, Largo, MD 20774 Website Address: www.fscfirst.com Year Formed: 1978
Mission Statement
FSC First is a risk-tolerant non-traditional economic development finance organization. As a CDFI and SBA 504/CDC and 7(a) Community Advantage lender our mission is to provide access to financing to small and minority businesses through distinct loan products. The loans are a product of diverse public-private partnerships between a consortium of participating banks, Prince George’s County, Maryland municipalities, non-profit community development organizations and FSC First.
Asset Size: $5 Million Target Market: Prince George’s County and the State of Maryland
36 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS ARLO WASHINGTON
Title: President Length of time in current position: 11 years Years of experience in community and economic development: 20 years
ORGANIZATION PROFILE
Name: People Trust Address: 5300 West 65th Street, Little Rock, Arkansas 72209 Website Address: www.peopletrustloans.org Year Formed: 2008
Mission Statement
People Trust Community Loan Fund is a certified 501(c)(3) Community Development Financial Institution (CDFI) headquartered in Little Rock, Arkansas and our primary purpose is to promote community development by providing financial support and literacy for communities that would otherwise not receive said opportunities. People Trust pledges to challenge what has become tradition in today’s fluctuation socio-economical system. The goal is to be a esourcer while creating avenues for elevated financial stability for low-moderate income communities. We stimulate and motivate an untapped sector of the economy to positively impact the communities in which they dwell.
Asset Size: $200,000 Target Market: Pulaski and Saline County Arkansas
37 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS NEW MEMBERS
Although we didn’t have a chance to include their profiles before the directory went to print, AAA would like to welcome these additional new members:
Dione Alexander Hope Knight Maurice R. Smith President President & CEO CEO
Village Capital Corporation Greater Jamaica Development Local Government Federal a subsidiary of Cleveland Corporation Credit Union Neighborhood Progress
Cleveland, Ohio Jamaica, New York Raleigh, North Carolina www.clevelandnp.org www.gjdc.org www.lgfcu.org
38 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS APPENDIX
The Alliance of African American CDFI CEOs (AAA) appreciates the devotion and effort expended by the following individuals. Their contributions and insights in helping to create and build AAA have been invaluable. Each person remains committed to the values and principles of AAA and to supporting the Alliance as we move forward.
Michael Banner Gary Cunningham Lenwood V. Long, Sr. President and CEO Former President and CEO, AAA Co-founder Los Angeles LDC (CA) Metropolitan Economic Former President and CEO, Development Association (MN) Carolina Small Business Assumed the role of President, Development Fund (NC) Prosperity Now (Washington Retired July 2019 DC) in August 2019 Currently Executive Administrator of AAA
Michelle Mapp Deborah McKetty Former President and CEO, SC Former President and CEO, Community Loan Fund Community Works (SC). Assumed the role of VP, Community Impact at United Way (Greenville County, SC)
39 AFRICAN AMERICAN ALLIANCE OF CDFI CEOS AFRICAN AMERICAN ALLIANCE OF CDFI CEOS MEMBER PROFILES