Program areas at Washington Area Community Investment Fund
Small business advisory services - wacif provides a variety of advisory services to low-to-moderate income entrepreneurs to drive equitable and opportunity in underserved dc Area communities. Wacif's small business advisory expertise and offerings cover topics including business planning, marketing, financial statements, law, real estate and getting transaction-ready. Our offerings include group classes, one-on-one advisement on specific capacity building issues to identify areas of growth, and intensive, cohort-based programs like our ascend capital accelerator, which featured the ascend. Her cohort, with specialized support for a cohort of women entrepreneurs of color. In 2022, wacif more provided more than 1,300 units of technical assistance small business and nonprofit clients; offering specialized financial and advisory services through greater Washington, dc enterprising women of color business center, the greater Washington, dc entrepreneurs of color Fund, the Minnesota avenue main street program.
Lending program - wacif's access to capital (atc) and lending activities, which total over $12.4m assets under management (aum), provide flexible financing for small businesses owned by, operating in or serving low-to-moderate income communities. Wacif has several loan funds to support a continuum of entrepreneurs, including established business owners that are unable to access traditional financing from banks - lending over $2m. Wacif's various lending programs bridge the financing gap for underserved communities graduating to traditional lenders, while creating economic opportunity. Wacif's atc Fund is the organization's historical source for Community development financing and it's most flexible. The atc Fund remains a Community asset which began with and has been sustained for over 30 years by individual and instructional, socially responsible investors seeking positive financial and social returns from their Investment. Currently comprised of over 51 institutional and individual investors holding over 61 investments, the atc Fund is valued at approximately $3.0m.
Grants made by Washington Area Community Investment Fund
Who funds Washington Area Community Investment Fund
Grants from foundations and other nonprofits
Personnel at Washington Area Community Investment Fund
Name | Title | Compensation | Date of data |
---|
Brendon Miller Chief of Staff | Until 5 and 2023 , Interim Chief Executive Officer Since 5 and 23 | $169,033 | 2023-12-31 |
Harold Pettigrew | Chief Executive Officer | $61,946 | 2023-12-31 |
Kevin Fryatt Cfoo | Interim Chief Executive Officer Since 12 and 2023 | $160,755 | 2023-12-31 |
Kimberly Gayle Chief Programs | Officer Until 12 and 2023 , Interim Chief Executive Officer | $147,127 | 2023-12-31 |
Megan Carras | Chief Development Officer | $136,693 | 2023-12-31 |
...and 15 more key personnel |
Financials for Washington Area Community Investment Fund
Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
---|
Total grants, contributions, etc. | $6,816,270 | $6,871,349 | -0.8% |
Program services | $773,308 | $2,200,959 | -64.9% |
Investment income and dividends | $126,501 | $2,656 | 4662.8% |
Tax-exempt bond proceeds | $0 | $0 | - |
Royalty revenue | $0 | $0 | - |
Net rental income | $0 | $0 | - |
Net gain from sale of non-inventory assets | $0 | $0 | - |
Net income from fundraising events | $-109,919 | $0 | -999% |
Net income from gaming activities | $0 | $0 | - |
Net income from sales of inventory | $0 | $0 | - |
Miscellaneous revenues | $10,347 | $12,014 | -13.9% |
Total revenues | $7,616,507 | $9,086,978 | -16.2% |
Organizations like Washington Area Community Investment Fund
Organization | Type | Location | Revenue |
---|
Coastal Enterprises (CEI) | 501(c)(3) | Brunswick, ME | $22,641,314 |
Bluehub Loan Fund | 501(c)(3) | Boston, MA | $22,068,331 |
Cinnaire Lending Corporation | 501(c)(3) | Lansing, MI | $12,692,635 |
Cincinnati Development Fund (CDF) | 501(c)(3) | Cincinnati, OH | $10,309,687 |
Boston Community Capital Venture Fund | 501(c)(3) | Boston, MA | $7,927,140 |
Ohio Community Development Finance Fund | 501(c)(3) | Columbus, OH | $9,454,085 |
Mountain Association | 501(c)(3) | Berea, KY | $6,043,653 |
Midwest Minnesota Community Development Corporation | 501(c)(3) | Detroit Lakes, MN | $6,318,095 |
Locus Impact Fund | 501(c)(3) | Christiansburg, VA | $9,556,651 |
Valley Partners | 501(c)(3) | Youngstown, OH | $8,153,238 |
Data update history
August 12, 2024
Updated personnel
Identified 10 new personnel
July 23, 2024
Posted financials
Added Form 990 for fiscal year 2023
July 16, 2024
Used new vendors
Identified 1 new vendor, including
July 11, 2024
Received grants
Identified 1 new grant, including a grant for $50,000 from Yelp Foundation Nonprofit Types
Grantmaking organizationsBusiness and community development organizationsHeadquarter / parent organizationsCharities
Issues
Human servicesCommunity improvementHousingEconomic development
Characteristics
Provides grantsFundraising eventsState / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
- Address
- 2012 Rhode Island Ave Ne
- Washington, DC 20018
- Metro area
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- County
- District of Columbia, DC
- Website URL
- wacif.org/Â
- Phone
- (202) 529-5505
IRS details
- EIN
- 54-1442466
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1987
- 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
- Central organization
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