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African American Alliance of Cdfi Ceos 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
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