We are a 501(c)3 nonprofit community development finance organization whose annual operating budget is supported through a variety of contributions from local and national governments, foundations, corporations, and individual donations, as well as interest income earned from our lending activities.
In 2007, we became a U.S. Treasury certified Community Development Finance Institution (CDFI). CDFIs are market-based, private-sector financial intermediaries that exist to create opportunities that benefit communities. With more than 90 percent of their capital derived from private sources, CDFIs leverage scarce public resources as few, if any, other industries can do.
As a statewide lender, we raise and pool capital from public and private investments to create a revolving loan fund that finances critically needed community development projects.
Our fiscal year is January 1st through December 31st.