EIN 41-1616861

Community Reinvestment Fund (CRF)

IRS 501(c) type
501(c)(3)
Num. employees
118
Year formed
1988
Most recent tax filings
2023-06-01
Description
The mission of Community Reinvestment Fund is to improve the lives of disadvantaged people and strengthen distressed communities through innovative finance.
Related structure
CRF is a subordinate organization under Chicanos Por La Causa (CPLC).
Total revenues
$55,474,462
2023
Total expenses
$45,512,446
2023
Total assets
$193,075,984
2023
Num. employees
118
2023

Program areas at CRF

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 lenders 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. Capital is provided directly to small businesses through direct lending programs including sba 7(a) and new market tax credits, as well as indirectly through programs such as the bond guaranty program. During the fiscal year 2023, crf provided financing totaling $26.6 million to small businesses across the country, leading to the creation or retention of more than 816 jobs.
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 2023 fiscal year, crf provided third party loan servicing support for 58 Community development lenders with volume of approximately 4,000 loans totaling $127 million. During the 2023 fiscal year, crf provided administration for 10 funds with asset totaling $87 million.
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 aas partnerships between traditional banks and cdfis. During the fiscal year 2023, crf facilitated the origination of approximately 2,265 loans totaling $190 million.

Grants made by CRF

GranteeGrant descriptionAmount
Invest DetroitOperating Support$263,656
Detroit Development FundOperating Support$166,667
Nybdc Local Development CorporationOperating Support$18,750
...and 6 more grants made

Who funds Community Reinvestment Fund (CRF)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Mastercard Impact FundSmall Business$1,500,000
Opportunity Finance Network (OFN)Ofn Cdfi Tech Grant Program Supported By Google.org$750,000
The Bank of America Charitable FoundationProgram/operating Support$350,000
...and 9 more grants received

Personnel at CRF

NameTitleCompensation
Frank AltmanChief Executive Officer$701,411
Matthew RothChief Executive Officer and President$0
Nicholas EldersChief Executive Officer - Ignify$0
Erik SwensonChief Operating Officer - Ignify$0
Paul TremewanSenior Vice President and Chief Financial Officer$229,626
...and 33 more key personnel

Financials for CRF

RevenuesFYE 06/2023
Total grants, contributions, etc.$26,484,053
Program services$20,635,271
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$-2,862
Net gain from sale of non-inventory assets$8,568,393
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$-210,393
Total revenues$55,474,462

Form 990s for CRF

Fiscal year endingDate received by IRSFormPDF link
2023-062024-02-05990View PDF
2022-062023-02-10990View PDF
2021-062022-03-29990View PDF
2020-062021-04-14990View PDF
2019-062020-09-03990View PDF
...and 9 more Form 990s
Data update history
June 5, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 22, 2024
Updated personnel
Identified 7 new personnel
May 20, 2024
Used new vendors
Identified 1 new vendor, including
May 18, 2024
Received grants
Identified 2 new grant, including a grant for $297,000 from Tides Foundation
February 3, 2024
Received grants
Identified 2 new grant, including a grant for $1,500,000 from Mastercard Impact Fund
Nonprofit Types
Grantmaking organizationsBusiness and community development organizationsChapter / child organizationsCharities
Issues
Community improvementEconomic development
Characteristics
Political advocacyLobbyingNational levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
801 Nicollet Mall 1700w
Minneapolis, MN 55402
Metro area
Minneapolis-St. Paul-Bloomington, MN-WI
County
Hennepin County, MN
Website URL
crfusa.com/ 
Phone
(800) 475-3050
Facebook page
crfusa 
Twitter profile
@crf_usa 
IRS details
EIN
41-1616861
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1988
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
522120: Savings Institutions
Parent/child status
Subordinate organization
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