NonprofitsWashington Area Community Investment Fund Inc

Washington Area Community Investment Fund Inc

WASHINGTON, DC

Total revenue

$4.1M

Total expenses

$6.4M

Net assets

$5.7M

Grants received

$8.3M

59 grants

EIN

541442466

Tax year

2024

Mission

To increase equity and economic opportunity by investing knowledge, social, and financial capital in low- and moderate-income washington area entrepreneurs.

Programs

1 program

Lending - wacif's access to capital and lending activities provide flexible financing for small businesses owned by, operating in or serving low-to-moderate income communities in the dc area. In 2024, wacif deployed over $3.3m in loans to small businesses, including term loans and lines of credit, and gross portfolio outstanding year-end was $4.9m. Wacif has several loan funds to support a continuum of entrepreneurs that are unable to access traditional financing from banks, including established business owners. Wacif's various lending programs bridge the financing gap for underserved entrepreneurs graduating to traditional lenders, creating economic opportunity in low-to-moderate income communities. Wacif's access to capital (atc) fund is the organization's historical and most flexible source for small business financing. The atc fund remains a community asset which began with and has been sustained for over 30 years by individual and institutional, socially responsible investors seeking positive financial and social returns from their investment.

Expenses: $1.5MGrants: $4K

Financials

FY 2024

Revenue

Contributions & grants$3.0M
Program service revenue$887K
Investment income$163K
Other revenue$70K
Total revenue$4.1M

Expenses

Grants paid$719K
Salaries & benefits$3.8M
Fundraising$1.1M
Other expenses$1.8M
Total expenses$6.4M
Total assets$12.1M
Net assets$5.7M

People

26 listed

NameRoleCompensation

SHANNAN HERBERT

CHIEF EXECUTIVE OFFICER

Board

$210K

40 hrs/wk

KIMBERLY GAYLE

CHIEF PROGRAMS OFFICER

Board

$168K

40 hrs/wk

KEVIN FRYATT

CFOO & CO-INTERIM CEO UNTIL 5/3/24

Board

$83K

40 hrs/wk

EMEKA MONEME

BOARD MEMBER

Board

1 hrs/wk

KLADE HARE NERSASIAN

BOARD MEMBER

Board

1 hrs/wk

ABIGAIL SUAREZ

BOARD MEMBER

Board

1 hrs/wk

COREY GRIFFIN

BOARD MEMBER

Board

1 hrs/wk

MATTHIAS GLATTING

BOARD MEMBER

Board

1 hrs/wk

NANCY STARK

BOARD CHAIR

Board

3 hrs/wk

MACEO CLARK

BOARD MEMBER

Board

1 hrs/wk

ANDREA LONGTON

BOARD MEMBER

Board

1 hrs/wk

MALACHI MCKINNEY

BOARD MEMBER

Board

1 hrs/wk

EVAN PIEKARA

BOARD MEMBER

Board

1 hrs/wk

AQUIL STINSON

BOARD MEMBER

Board

1 hrs/wk

NORA DIAMOND-JONES

SECRETARY

Board

2 hrs/wk

ROBERT RIORDAN

BOARD VICE CHAIR

Board

2 hrs/wk

BRIAN NAGENDRA

TREASURER

Board

2 hrs/wk

COURTNEY R SNOWDEN

BOARD MEMBER

Board

1 hrs/wk

MARISA G FLOWERS

BOARD MEMBER

Board

1 hrs/wk

JESSEL AMIN

BOARD MEMBER

Board

1 hrs/wk

CARYLN MADDEN

BOARD MEMBER

Board

1 hrs/wk

MEGAN CARRAS

CHIEF DEVELOPMENT OFFICER

Staff

$182K

40 hrs/wk

SHAUNA YELDELL

CHIEF LENDING OFFICER UNTIL 10/16/24

Staff

$153K

40 hrs/wk

MESSAY DEREBE

AAC GENERAL DIRECTOR

Staff

$147K

30 hrs/wk

JUNELL VENORD

SENIOR HUMAN CAPITAL DIRECTOR

Staff

$143K

40 hrs/wk

SHERRY GUSTAFSON

DIRECTOR OF FINANCE UNTIL 12/06/2024

Staff

$143K

40 hrs/wk

Grants received

Showing 59 of 59

FromAmountPurposeYear
$360K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2024
$100K
1 grant(s) for varying purposes
2024
$79K
TO CATALYZE BUSINESS GROWTH AND SUPPORT BUSINESS SUCCESS FOR DC OWNED FOOD BUSINESSES
2024
$51K
GENERAL SUPPORT
2024
$20K
COMMUNITY SERVICES
2024
$15K
General operating support
2024
$206K
For grant recipient's exempt purposes
2023
$101K
FOR CAPACITY BUILDING AND BUSINESS GROWTH
2023
$50K
ACCELERATING ENTREPRENEURS OF COLOR: CAPITAL ASCEND PROGRAM
2023
$18K
Grant Sub-Award
2023
$14K
UNRESTRICTED
2023
$10K
General operating support
2023
$500
GENERAL OPERATING SUPPORT
2023
$1M
GENERAL OPERATING SUPPORT
2022
$250K
FINANCE JUSTICE FUND SUBGRANT
2022
$150K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2022
$146K
TO CATALYZE BUSINESS GROWTH AND SUPPORT BUSINESS SUCCESS FOR DC OWNED FOOD BUSINESSES
2022
$50K
contribution to charitable organization
2022
$30K
PASS THROUGH PAYMENTS
2022
$29K
UNRESTRICTED
2022
$10K
ACCELERATING ENTREPRENEURS OF COLOR: CAPITAL ASCEND PROGRAM
2022
$400
GENERAL OPERATING SUPPORT
2022
$670K
OPEN FOR BUSINESS FUND / DC COOP GRANT / ENTREPRENEURS OF COLOR SUBGRANT
2021
$201K
For grant recipient's exempt purposes
2021
$201K
For grant recipient's exempt purposes
2021
$55K
UNRESTRICTED
2021
$50K
General Support
2021
$10K
ACCELERATING ENTREPRENEURS OF COLOR: CAPITAL ASCEND PROGRAM
2021
$500K
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS INITIATIVE
2020
$350K
COVID-RELATED SUPPORT FOR OPERATIONS PROGRAM
2020
$350K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2020
$300K
CAPACITY-BUILDING SUPPORT OF PROGRAMS TO PROMOTE ECONOMIC OPPORTUNITY
2020
$200K
TO SUPPORT TECHNOLOGY, STAFF, AND OTHER STRATEGIES FOR INCREASING CAPACITY TO TRACK DATA AND DELIVER INNOVATIVE PRODUCTS
2020
$150K
SMALL BUSINESS GRANT
2020
$140K
ENTREPRENEURS OF COLOR FUND GRANT AMENDMENT #1
2020
$125K
Grant for business support orgs
2020
$125K
SMALL BUSINESS GRANT
2020
$75K
COVID-19 RELIEF SUPPORT
2020
$60K
General Support
2020
$60K
EQUALITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2020
$40K
TO SUPPORT GENERAL OPERATIONS
2020
$25K
contribution to charitable organization
2020
$11K
Unrestricted
2020
$10K
INCLUSIVE SMALL BUSINESS RECOVERY AND RESILIENCE TECHNICAL ASSISTANCE
2020
$6K
For grant recipient's exempt purposes
2020
$1M
JPMC ENTREPRENEURS OF COLOR FUND
2019
$10K
WACIF INCLUSIVE ENTRENEURSHIP
2019
$500
GENERAL OPERATING SUPPORT
2019
$200K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2018

Funded by

$8.3M from 27 funders · 59 grants · 2018–2024

Capital Impact Partners

$2.1M · 6 grants · 2019–2024

Jpmorgan Chase Foundation

$1.7M · 7 grants · 2018–2023

Citi Foundation

$850K · 2 grants · 2020

Fidelity Investments Charitable Gift Fund

$613K · 4 grants · 2020–2023

Opportunity Finance Network

$525K · 3 grants · 2020–2022

Tides Foundation

$420K · 2 grants · 2020–2024

Greater Washington Community Foundation

$305K · 4 grants · 2020–2023

Clark Charitable Foundation Inc

$300K · 1 grant · 2020

Details

EIN541442466
Subsection03
Ruling date1988-08
Formed1987
Employees48
Volunteers18
WASHINGTON AREA COMMUNITY INVESTMENT FUND INC — Mission, Financials & Grants Received | Grantivo