NonprofitsCommunity Reinvestment Fund Inc

Community Improvement

Community Reinvestment Fund Inc

MINNEAPOLIS, MN

Total revenue

$35.7M

Total expenses

$32.8M

Net assets

$78.2M

Grants received

$39.8M

57 grants

EIN

411616861

Tax year

2023

Mission

To improve lives and strengthen communities through innovative financial solutions.

Programs

2 programs

Technology solutions - crf offers technology solutions that support and enable access to affordable and responsible small business financing and improve the efficiency and scalability of mission-based lenders. These solutions are critical to many public-private partnerships across the country, as well as partnerships between traditional banks and cdfis. During the fiscal year 2024, crf facilitated the origination of approximately 973 loans totaling 85.4 million.

Expenses: $3.7M

Loan servicing and fund administration - crf is a national loan servicer and fund administrator that specializes in providing high-touch, customized service. With more than 20 years of experience, crf focuses on providing servicing and administration for mission-aligned organizations with a variety of asset types including commercial real estate, community facilities, residential mortgages, equipment, and others. During the 2024 fiscal year, crf provided third party loan servicing support for 29 community development lenders with volume of approximately 2,476 loans totaling $94.1 million. During the 2024 fiscal year, crf provided administration for more than 5 funds with asset totaling more than $104.6 million.

Expenses: $3.8M

Financials

FY 2023

Revenue

Contributions & grants$15.0M
Program service revenue$20.4M
Investment income
Other revenue$334K
Total revenue$35.7M

Expenses

Grants paid$317K
Salaries & benefits$14.9M
Fundraising$602K
Other expenses$17.6M
Total expenses$32.8M
Total assets$190.0M
Net assets$78.2M

People

37 listed

NameRoleCompensation

JENNIFER ANDERSON

CHIEF ADMIN OFFICER THRU 3/24

Board

$454K

40 hrs/wk

KEITH RACHEY

EVP CHIEF IMPACT OFFICER THRU 6/23

Board

$415K

40 hrs/wk

MATTHEW ROTH

CEO & PRESIDENT AS OF 3/23

Board

$299K

40 hrs/wk

JENNIFER NOVAK

SVP CDFI LENDING PROGRAMS

Board

$247K

40 hrs/wk

PAUL TREMEWAN

SVP & CHIEF FINANCIAL OFFICER

Board

$220K

40 hrs/wk

CHARITY VICKERS

SVP & CHIEF PEOPLE OFFICER

Board

$215K

40 hrs/wk

PATRICK DAVIS

SVP PLATFORM & TECH SERVICES

Board

$213K

40 hrs/wk

ERIC CHAPIN

SVP GENERAL COUNSEL

Board

$211K

40 hrs/wk

FRANK ALTMAN

CEO THRU 7/23

Board

$210K

40 hrs/wk

KINFE ARGAW

SVP CHIEF CREDIT OFFICER

Board

$180K

40 hrs/wk

SIMON MCNEIL

SVP & COO THRU 6/23

Board

$177K

40 hrs/wk

KATELYN BEDNARSKI

SVP CHIEF OF STAFF

Board

$171K

40 hrs/wk

ALEXIS DISHMAN

SVP CHIEF LEND. OFFICER AS OF 7/23

Board

$86K

40 hrs/wk

JUDITH JANDRO

SVP SMALL BUS. LENDING THRU 2/23

Board

$63K

40 hrs/wk

BRANDON DIXON

SVP CHIEF CREDIT OFFICER THRU 2/23

Board

$39K

40 hrs/wk

DANIEL SPILLER

CHAIR

Board

1 hrs/wk

STEVE KENT

TREASURER

Board

1 hrs/wk

LAURA TRUDEAU

SECRETARY

Board

1 hrs/wk

REZA AGHAMIRZADEH

TRUSTEE

Board

1 hrs/wk

CHRYSTEL CORNELIUS

TRUSTEE

Board

1 hrs/wk

CALVIN HOLMES

TRUSTEE AS OF 10/23

Board

1 hrs/wk

BILL KRUGLER

TRUSTEE

Board

1 hrs/wk

TONY BROWN

TRUSTEE

Board

1 hrs/wk

KATHY ROCK

TRUSTEE

Board

1 hrs/wk

RUBEN ALONSO

TRUSTEE

Board

1 hrs/wk

JEANINE JACOKES

TRUSTEE

Board

1 hrs/wk

GAVIN BOROWIAK

TRUSTEE

Board

1 hrs/wk

LUTHER RAGIN JR

TRUSTEE

Board

1 hrs/wk

JIE WANG

TRUSTEE AS OF 6/24

Board

1 hrs/wk

DAVID ADAME

TRUSTEE THRU 10/23

Board

1 hrs/wk

WILLIE LOGAN

TRUSTEE THRU 1/24

Board

1 hrs/wk

JACQUELINE WOODS

TRUSTEE THRU 6/24

Board

1 hrs/wk

JENNIFER ERICSON

VP OF LENDING

Staff

$219K

40 hrs/wk

SANDRA DELANCY

SENIOR DIRECTOR OF EDMA

Staff

$186K

40 hrs/wk

TASHA PARKER

VP BUSINESS OPERATIONS

Staff

$183K

40 hrs/wk

ERIK O'LEARY

PRINCIPAL ARCHITECT

Staff

$182K

40 hrs/wk

ANNA BURGETT

SENIOR ASSOCIATE GENERAL COUNSEL

Staff

$178K

40 hrs/wk

Independent contractors

CLIFTONLARSONALLEN LLP

ACCOUNTING

$304K

PERKINS COIE LLP

LEGAL

$302K

ROBERT HALF

CONSULTING

$225K

MARK GAVIN CONSULTING

CONSULTING

$178K

Grants received

Showing 57 of 57

FromAmountPurposeYear
$2M
COMMUNITY IMPROVEMENT & CAPACITY BUILDING, EDUCATION
2024
$1M
GENERAL OPERATING SUPPORT FOR SMALL BUSINESS DISASTER RECOVERY LENDING.
2024
$650K
SMALL BUSINESS
2024
$300K
PROJECT FUND
2024
$250K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2024
$75K
ECONOMIC OPPORTUNITY - HOMETOWN
2024
$15K
GRANT FOR BUSINESS SUPPORT ORGANIZATION
2024
$5K
UNRESTRICTED GENERAL SUPPORT
2024
$1.4M
SMALL BUSINESS
2023
$350K
PROGRAM/OPERATING SUPPORT
2023
$300K
GRANT TO IMPLEMENT ONE MILLION BLACK WOMEN IN NEW YORK.
2023
$250K
To support the program From Outputs to Outcomes: Deploying CRF Insights to Measure the Impact of the California Rebuilding Fund
2023
$150K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2023
$75K
ECONOMIC OPPORTUNITY - HOMETOWN
2023
$5K
UNRESTRICTED GENERAL SUPPORT
2023
$3K
GENERAL OPERATING GRANT
2023
$1.5M
SMALL BUSINESS
2022
$750K
OFN CDFI TECH GRANT PROGRAM SUPPORTED BY GOOGLE.ORG
2022
$297K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2022
$297K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2022
$15K
For general operating support in recognition of Community Reinvestment Fund's participation in GroundBreak coalition's work groups
2022
$3K
GENERAL OPERATING GRANT
2022
$250
MATCHING GIFT
2022
$600K
SMALL BUSINESS/FSPS
2021
$500K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2021
$404K
Integrated Capital Recovery Project
2021
$3K
GENERAL OPERATING GRANT
2021
$15M
GENERAL OPERATING SUPPORT
2020
$8M
GRANT TO IMPLEMENT THE 10,000 SMALL BUSINESSES INITIATIVE
2020
$1M
COVID-19 EMERGENCY RESPONSE
2020
$900K
FINANCIAL SECURITY / FSPS
2020
$500K
COMMUNITY & HUMAN SERVICES
2020
$500K
EMERGENCY RELIEF
2020
$500K
Technical Assistance
2020
$300K
MINNESOTA COMMUNITY RESILIENCE PROGRAM
2020
$150K
EMERGENCY RELIEF
2020
$150K
THIS GRANT, IN CONJUNCTION WITH A $3 MILLION PROGRAM RELATED INVESTMENT, PROVIDES FUNDING TO COMMUNITY REINVESTMENT FUND TO MAKE CARES ACT PAYCHECK PROTECTION PROGRAM RESOURCES ACCESSIBLE TO DETROIT NONPROFITS TO HELP THEM WEATHER THE IMPACTS OF COVID-19.
2020
$130K
GRANT FOR COVID-19 RELIEF FOR UNDERSERVED, VULNERABLE POPULATIONS
2020
$100K
GRANT TO IMPLEMENT THE 10,000 SMALL BUSINESSES INITIATIVE
2020
$100K
CRF TWIN CITY FORWARD ECONOMIC JUSTICE - 436766
2020
$3K
GENERAL OPERATING GRANT
2020
$100K
TO PROVIDE FOR LOAN LOSS RESERVES THAT ARE REQUIRED TO SUPPORT SBA 7(A) AND PATIENT CAPITAL LENDING IN MINNESOTA.
2019
$30K
MULTIPLE GRANTS
2019
$3K
GENERAL OPERATING SUPPORT
2019
$51K
CRF ITASCA MEZZANINE FUND NORTHSIDE REQUEST - 371253
2018
$50K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2018
$19K
CCWC MY LIFE AS A LAWYER SCHOLARSHIP FUND
2018
$1K
GENERAL OPERATING GRANT
2018
$78K
CHICAGO SMALL AND MEDIUM BUSINESS MARKET ASSESSMENT
2017

Funded by

$39.8M from 28 funders · 57 grants · 2017–2024

The Chicago Community Trust

$15.1M · 2 grants · 2017–2020

The Goldman Sachs Foundation

$8.4M · 3 grants · 2020–2023

Mastercard Impact Fund

$6M · 6 grants · 2020–2024

Otto Bremer Trust

$1.1M · 4 grants · 2019–2020

Dogwood Health Trust

$1M · 1 grant · 2024

Tides Foundation

$994K · 4 grants · 2022–2024

The Bank of America Charitable Foundation Inc

$850K · 2 grants · 2020–2023

Details

EIN411616861
NTEE codeS310
Subsection03
Ruling date1989-03
Formed1988
Employees121
Volunteers15
COMMUNITY REINVESTMENT FUND INC — Mission, Financials & Grants Received | Grantivo