Community Reinvestment Fund Inc

Organization Overview

Community Reinvestment Fund Inc is located in Minneapolis, MN. The organization was established in 1989. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Community Reinvestment Fund Inc employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Reinvestment Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2020, Community Reinvestment Fund Inc generated $53.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $32.9m during the year ending 06/2020. While expenses have increased by 4.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2018, Community Reinvestment Fund Inc has awarded 40 individual grants totaling $4,560,100. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

EMPOWER PEOPLE TO IMPROVE THEIR LIVES AND STRENGTHEN THEIR COMMUNITIES THROUGH FINANCIAL SOLUTIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LENDING PROGRAMS - FOUNDED IN 1988, COMMUNITY REINVESTMENT FUND, USA (CRF) IS A NATIONAL NON-PROFIT ORGANIZATION AND A LEADING COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). CRF WORKS COLLABORATIVELY WITH COMMUNITY ORGANIZATIONS AND STAKEHOLDERS TO INCREASE ECONOMIC MOBILITY, BUILD STRONG LOCAL ECONOMIES, AND REDUCE THE WEALTH GAP IN PURSUIT OF A JUST ECONOMY THAT WORKS FOR ALL. IN PARTNERSHIP WITH OTHERS, CRF CO-CREATES AND DELIVERS PROGRAMS, PRODUCTS AND SERVICES THAT ADDRESS THE BARRIERS AND INEQUITIES SMALL BUSINESSES WITH A HISTORY OF UNDERREPRESENTATION FACE. DURING THE FISCAL YEAR 2022, CRF PROVIDED FINANCING TOTALING $64.3 MILLION TO COMMUNITIES ACROSS THE COUNTRY, LEADING TO THE CREATION OR RETENTION OF MORE THAN 1,799 JOBS.


TECHNOLOGY SOLUTIONS CRF OFFERS TECHNOLOGY SOLUTIONS THAT SUPPORT AND ENABLE ACCESS TO AFFORDABLE AND RESPONSIBLE BUSINESS FINANCING AND IMPROVE THE EFFICIENCY AND SCALABILITY OF MISSION-BASED LENDERS. DURING THE FISCAL YEAR 2022, CRF FACILITATED THE ORIGINATION OF APPROXIMATELY 2,366 LOANS TOTALING $147.2 MILLION.


LOAN SERVICING CRF IS A NATIONAL STANDARD & POOR'S RANKED LOAN SERVICER THAT SPECIALIZES IN PROVIDING HIGH-TOUCH, CUSTOMIZED SERVICE. WITH MORE THAN 20 YEARS OF EXPERIENCE, CRF FOCUSES ON PROVIDING SERVICING FOR MISSION-ALIGNED ORGANIZATIONS WITH A VARIETY OF ASSET TYPES INCLUDING COMMERCIAL REAL ESTATE, COMMUNITY FACILITIES, RESIDENTIAL MORTGAGES, EQUIPMENT, AND OTHERS. DURING THE 2022 FISCAL YEAR, CRF PROVIDED THIRD PARTY LOAN SERVICING SUPPORT FOR 58 COMMUNITY DEVELOPMENT LENDERS WITH VOLUME OF APPROXIMATELY 6,875 LOANS TOTALING $325.4 MILLION.


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Board, Officers & Key Employees

Name (title)Compensation
Frank Altman
CEO
$749,144
Jennifer Anderson
President
$514,108
Keith Rachey
Evp Chief Impact Officer
$414,438
Jennifer Novak
SVP Capital Markets
$328,067
Judith Jandro
SVP Small Business Lending
$293,860
Eric Chapin
General Counsel
$266,418

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Perkins Coie Llp
Legal
$482,804
Mark Gavin Consulting
Consulting
$298,211
Robert Half
Consulting
$1,666,934
Cliftonlarsonallen Llp
Accounting
$281,764
Accountemps
Consulting
$413,606
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$17,117,536
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $53,118,127

Grants Awarded

Over the last fiscal year, Community Reinvestment Fund Inc has awarded $800,000 in support to 16 organizations.

Grant RecipientAmount

HINCKLEY COLLISION CENTER LLC

PURPOSE: OPERATING SUPPORT

$50,000

LILI-NICK INC

PURPOSE: OPERATING SUPPORT

$50,000

TRI-CONSTRUCTION INC

PURPOSE: OPERATING SUPPORT

$50,000

CFPA DEVELOPMENT PROJECT LLC

PURPOSE: OPERATING SUPPORT

$50,000

SIDEWALK DOG INC

PURPOSE: OPERATING SUPPORT

$50,000

ME AND I LLC

PURPOSE: OPERATING SUPPORT

$50,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Community Reinvestment Fund Inc has recieved totaling $2,500.

Awarding OrganizationAmount
Spiller L Chaim Fund

Minneapolis, MN

PURPOSE: GENERAL OPERATING GRANT

$2,500
View Grant Recipient Profile

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