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Community Reinvestment Fund Inc

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 411616861 ✦ Minneapolis, MN ✦ Designated as a 501(c)(3)

Overview

What is Community Reinvestment Fund Inc?

Community Reinvestment Fund Inc, founded in 1988, is a Minneapolis-based national non-profit organization and a leading Community Development Financial Institution (CDFI) named CRF USA. They collaborate with community organizations and stakeholders to promote economic mobility, foster strong local economies, and bridge the wealth gap, aiming for an inclusive economy for all. CRF's programs, products, and services address the barriers faced by small businesses with underrepresentation histories. During fiscal year 2022, CRF distributed $64.3 million in financing across the country, contributing to the creation or retention of approximately 1,799 jobs. Their mission is to empower individuals and strengthen communities through innovative financial solutions.


Official website here: www.crfusa.com

Is Community Reinvestment Fund Inc legitimate?

Community Reinvestment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Reinvestment Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Here are some key statistics you may want to consider:

Executive Compensation: $3,266,403
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,751,761

For more financial information, click here


Official website here: www.crfusa.com

What is the mission statement of Community Reinvestment Fund Inc?

Community Reinvestment Fund Inc is a national non-profit organization and a leading Community Development Financial Institution (CDFI) that empowers individuals and strengthens communities through innovative financial solutions. Established in 1988, CRF collaborates with community organizations and stakeholders to increase economic mobility, build strong local economies, and reduce the wealth gap. The organization co-creates and delivers programs, products, and services that address the barriers and inequalities faced by underrepresented small businesses. CRF provided financing amounting to $64.3 million during fiscal year 2022, leading to the creation or retention of over 1,799 jobs across the country.


Official website here: www.crfusa.com

Who is the CEO of Community Reinvestment Fund Inc?

Frank Altman is the Ceo of Community Reinvestment Fund Inc. The CEO's salary of Community Reinvestment Fund Inc is $0 and their total compensation is $602,048.


Official website here: www.crfusa.com

What is the revenue of Community Reinvestment Fund Inc?

Community Reinvestment Fund Inc's revenue in 2022 was $38,368,250.


Official website here: www.crfusa.com

Who are the executives of Community Reinvestment Fund Inc and what are their salaries?

The average compensation at Community Reinvestment Fund Inc during 2022 was $140,182. There are 100 employees and 17 volunteers at Community Reinvestment Fund Inc.

Here are 33 key members and their salaries (Community Reinvestment Fund Inc's CEO's salary is $0 and their total compensation is $602,048):

    Frank Altman (Ceo)
  • Compensation: $749,144
  • Related: $0
  • Other: $23,383

    • Jennifer Anderson (President)
  • Compensation: $514,108
  • Related: $0
  • Other: $139,738

    • Nicholas Elders (Ceo-Ignify)
  • Compensation: $0
  • Related: $533,310
  • Other: $68,738

    • Keith Rachey (Evp Chief Impact Officer)
  • Compensation: $414,438
  • Related: $0
  • Other: $140,068

    • Erik Mau (Chief Technology Officer-Ignify)
  • Compensation: $0
  • Related: $405,427
  • Other: $56,585

    • Erik Swenson (Chief Operating Officer-Ignify)
  • Compensation: $0
  • Related: $397,060
  • Other: $54,756

    • Jennifer Novak (Svp Capital Markets)
  • Compensation: $328,067
  • Related: $0
  • Other: $39,741

    • Judith Jandro (Svp Small Business Lending)
  • Compensation: $293,860
  • Related: $0
  • Other: $39,731

    • Eric Chapin (General Counsel)
  • Compensation: $266,418
  • Related: $0
  • Other: $38,482

    • Patrick Davis (Vp Of Program Strategy)
  • Compensation: $258,718
  • Related: $0
  • Other: $17,653

    • Debra Mounsey (Vp Of Human Resources)
  • Compensation: $251,829
  • Related: $0
  • Other: $21,381

    • Brandon Dixon (Chief Credit Officer)
  • Compensation: $221,477
  • Related: $0
  • Other: $36,136

    • Jennifer Ericson (Vp Of Development And Lending)
  • Compensation: $224,190
  • Related: $0
  • Other: $26,936

    • Michelle Page (Vp Of Loan Servicing)
  • Compensation: $211,550
  • Related: $0
  • Other: $16,456

    • Paul Tremewan (Vp Of Finance)
  • Compensation: $201,817
  • Related: $0
  • Other: $18,768

    • Simon Mcneil (Svp Operations)
  • Compensation: $90,836
  • Related: $0
  • Other: $8,233

    • Reza Aghamirzadeh (Chair) [Trustee/Director]
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Daniel Spiller (Vice Chair) [Trustee/Director]
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Steven Kent (Treasurer) [Trustee/Director]
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Laura Trudeau (Secretary) [Trustee/Director]
  • Compensation: $0
  • Related: $0
  • Other: $0

    • David Adame (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Andrew Posner (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • William Krugler (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Willie Logan (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Tony Brown (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Kathryn Rock (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Chrystel Cornelius (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Calvin Holmes (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Gary Cunningham (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Gavin Borowiak (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Luther Ragin Jr (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Stefanie Steward-Young (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Jacqueline Woods (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0


  • Official website here: www.crfusa.com

    Where can I find the form 990 for Community Reinvestment Fund Inc?

    The Community Reinvestment Fund Inc’s most recent form 990 was submitted in 2022 and can be accessed here


    Official website here: www.crfusa.com

    Learn more at the official website: www.crfusa.com

    Mission Statement of Community Reinvestment Fund Inc

    Community Reinvestment Fund Inc, also known as CRF, is a leading national non-profit organization and a Community Development Financial Institution (CDFI) with a mission to improve lives and strengthen communities through innovative financial solutions. Founded in 1988, CRF collaborates with community organizations and stakeholders to increase economic mobility and reduce the wealth gap in pursuit of a just economy that works for all.

    CRF's approach is unique as it co-creates and delivers programs, products, and services that address the barriers and inequities faced by small businesses with a history of underrepresentation. In fiscal year 2022, CRF provided financing totaling $64.3 million to communities across the country, leading to the creation or retention of over 1,799 jobs. By combining financial expertise with a deep understanding of community needs, CRF plays a vital role in empowering people to improve their lives and build strong local economies.

    Innovation is at the core of CRF's mission, as they continue to develop new and effective financial solutions to meet the evolving needs of the communities they serve. Their focus on collaboration and partnership allows them to support the growth of businesses, creating opportunities for economic advancement and positive change. CRF serves as a catalyst for change, using financial tools to foster sustainable economic development and help communities thrive.

    Impact

    This information is meant to be a general summary of Community Reinvestment Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.




    Thursday, August 15, 2024

    Community Reinvestment Fund Inc's impact can be seen in the tangible results of their lending programs. Founded in 1988, this organization works to empower people to improve their lives and strengthen their communities through financial solutions. In partnership with community organizations and stakeholders, they aim to increase economic mobility, build strong local economies, and reduce the wealth gap, ultimately striving for a just economy that works for all. During the fiscal year 2022 alone, Community Reinvestment Fund Inc provided $64.3 million in financing to communities across the country, leading to the creation or retention of more than 1,799 jobs. Through their efforts, they are actively contributing to community improvement and making a meaningful difference in people's lives.





    Financials

    This financial information is from Propublica.

    Revenue
    Expenses
    Efficiency

    Other financial information:

    This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $0
  • Program Service Revenue: $25,280,758
  • Gross Receipts: $38,382,403

    • Assets and Liabilities:
  • Total Assets: $166,360,640
  • Total Liabilities: $100,590,346
  • Net Assets: $65,770,294
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    LENDING TRANSACTION FEES

    Revenue

    $16,457,771

    LENDING INTEREST INCOME

    Revenue

    $6,337,040

    OTHER LENDING INCOME

    Revenue

    $2,485,947

    Organization Details

    Founding Year

    1988

    Principal Officer

    Frank Altman

    Main Address

    801 NICOLLET MALL 1700W, MINNEAPOLIS, MN, 554022903

    NTEE Category

    Code: S31 - Community improvement

    If you are a representative of Community Reinvestment Fund Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.