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The value of advocacy - RRP awards

Fri, 2021-06-18 15:31
From : Communities>>Open Forum
Many thanks to OFN, the CDFI Coalition, and all the CDFI practitioners and supporters who've been working for years - decades - to keep us all visible and to continually make the case for the importance of capital and support in community. The amazing awards announced this week don't just happen and I want to applaud and raise a glass in thanks for this community. Thanks also to the members of Congress and their staffs who keep CDFIs on the agendas, in the budgets, and in the bills. ------------------------------ [More]

RE: auditors - costs, recommendations, transitions

Thu, 2021-06-17 14:24
From : Communities>>Open Forum
Hi Pam, We use BOD for our auditing needs. We have used them for a few years now and they do good work. Sanjiv Sanjiv Doreswamy, MPA Executive Director 6951 Martin Luther King Jr Way S Suite 225 Seattle, WA 98118-3545 D 206.722.5281 T 206.722.5280 F 206.722.1729 C 404-323-8836 http://www.rvcdf.org

Restrictive Covenants

Thu, 2021-06-17 12:26
From : Communities>>Open Forum
My CDFI makes loans to both for-profit and nonprofit affordable housing developers. Our Loan Committee (a subset of the Board) has asked staff to propose a policy (or at least guidelines) as to when we require income restrictive covenants with our loans. To date, unless we use Capital Magnet Fund or lend to a for-profit developer, we don't require restrictive covenants and rely on any other funding source to set the standard. Does any other lender to affordable housing developer have policies or [More]

RE: auditors - costs, recommendations, transitions

Thu, 2021-06-17 11:24
From : Communities>>Open Forum
CTLF uses BlueBird CPA they are based out of Reno, NV. They have been phenomenal with our yearly audit; the cost increased just a bit compared to previous years.  They work with the schedule that we requested and it has worked well for us, especialy when it comes time to complete the 990.  ------------------------------ Diana Pickernell Director Chehalis Tribal Loan Fund Oakville, WA 98568 360.709.1631 dpickernell@ctlf-empowers.org dpickernell@chehalistribe.org ------------------------------

auditors - costs, recommendations, transitions

Wed, 2021-06-16 17:01
From : Communities>>Open Forum
What kind of increase in audit costs have you seen this year? We were just quoted a 10% increase over last year, which seems excessive since we had a 17% increase the prior year "due to the new accounting regs." We use a national firm, with an office in Seattle, where we're based. Can you recommend any auditors in the Pacific Time Zone who have solid experience with nonprofits and CDFIs? Have you ever switched auditors before? What was that like?  I'm what hassles, or benefits, are involved in switching [More]

Wednesday 6/16 Webinar for CDFIs: Going Carbon Neutral

Mon, 2021-06-14 16:22
From : Communities>>Open Forum
Good afternoon CDFI colleagues, We are excited to see so much interest in our webinar scheduled for this Wednesday, focused on how organizations and businesses can achieve carbon neutral operations! I thought I would give one last plug for anyone interested in ramping up sustainability commitments! Register here About the Event: Join the Community Preservation Corporation, EcoAct, and SustainCERT for a discussion on how CDFIs, other nonprofits and businesses can achieve carbon neutral operations [More]

Consultant Needed

Mon, 2021-06-14 14:45
From : Communities>>Open Forum
CASA of Oregon is looking for a consultant to help run our loan fund while our director of that program is out on leave. Does anyone have a list of consultant contacts that do this type of temporary work? If so, we would greatly appreciate your sharing that information with us. All the best, LISA ROGERS DEPUTY DIRECTOR, She, Her, hers 20508 SW Roy Rogers Rd. Suite 155, Sherwood, OR 97140 P: 503-687-3306 F: 503-537-0558 lrogers@casaoforegon.org | CASAOFOREGON.ORG Please note: [More]

Position Available with Florida Community Loan Fund: Executive Assistant / Office Manager in Orlando

Fri, 2021-06-11 16:54
From : Communities>>Open Forum
Florida Community Loan Fund has an opening for an Executive Assistant to the CEO, with duties including general office management and administrative support for other executives. FCLF is a statewide CDFI in Florida, established in 1994 and operating from a network of offices in Orlando, Tampa, Melbourne, Sarasota, and Fort Lauderdale. This full-time position is in the Orlando office. For a full description and application instructions, visit our website: FCLF Position Available, Executive Assistant-Office [More]

Files Attached Document
Position Available with Florida Community Loan Fund: Executive Assistant / Office Manager in Orlando

Decision Making Matrices

Fri, 2021-06-11 12:44
From : Communities>>Open Forum
Hi folks. The Cooperative Fund of New England wants to develop a decision making matrix to clarify expectations around who makes what decisions, who provides input, etc.  MOCHA is one model, there are others, and I don't have a strong preference. Rather than reinvent the wheel, if anyone has one that works for your CDFI and would share it, I'd be grateful. Particularly, I'm curious what decisions you decided to list. For what it's worth, we have 10 staff members, including a six person small business [More]

RE: Westchester NY NPO/Affordable Housing developer/consultant sought

Thu, 2021-06-10 13:25
From : Communities>>Open Forum
You may also wish to contact Community Capital New York.  CCNY is a Westchester based CDFI that supports affordable housing projects, and they could be a good partner in connecting you with developers. ------------------------------ David Erickson-Pearson Principal Erickson-Pearson Search Highlands Ranch CO 303.703.6165 epdavid@earthlink.net ------------------------------

CDFI Growth And Staff Utilization Metrics

Thu, 2021-06-10 13:21
From : Communities>>Open Forum
The Greater Minnesota Housing Fund is currently experiencing significant growth in capitalization and transaction levels and would like to confer with other affordable housing CDFIs about your experience in the scaling up of operations to support growth, specifically staffing levels based on transaction metrics, use of specialized origination, underwriting and closing positions versus more general loan officer roles for an optimal CDFI staffing structure. We are also potentially interested in engaging [More]

Slow Walk to the Capital Magnet Application and Tool to Vet Your Project

Thu, 2021-06-10 12:28
From : Communities>>Open Forum
Dear Colleagues - the standard " LEARN ABOUT THE FY 2021 CAPITAL MAGNET FUND ROUND: UP TO $380 MILLION AVAILABLE!" webinar will be held on Wednesday, June 30th.  For the uninitiated, it an over of the program (which also can be found in links on the Fund's site from last year) and a reminder to get your mojo going on SAM.gov and grants.gov. However, the webinar is not designed to vet your project ideas.  To do that, just fill out this confidential form , and within 24 hours, we will advise you as [More]

RE: Westchester NY NPO/Affordable Housing developer/consultant sought

Thu, 2021-06-10 10:39
From : Communities>>Open Forum
I would recommend NeighborWorks America, a national intermediary with a network of over 250 organizations working in the affordable housing space. Many of them develop and manage affordable housing and would be able partner with an organization like this to support the redevelopment of the site. Your colleague could search the network directory to find the right organization to reach out to. neighborworks.org ------------------------------ Lynne Wallace Director, Success Measures Partnerships NeighborWorks [More]

RE: Westchester NY NPO/Affordable Housing developer/consultant sought

Thu, 2021-06-10 10:23
From : Communities>>Open Forum
Hi Lea, My firm, Stone Sherick Consulting Group, is a real estate development consulting firm specializing in affordable housing projects and mixed-use projects that incorporate affordable housing. We are based in Philadelphia and work on projects in New York, Maryland, DC and Virginia in addition to Pennsylvania. We have extensive experience in managing all stages of the predevelopment and financing process with nonprofit organizations that are both new and experienced housing developers, including [More]

RE: CDFI's small dollar program

Thu, 2021-06-10 09:13
From : Communities>>Open Forum
Hey, We submitted the SF-424 but decided not to apply, even though it's a perfect fit for us, since we are a small dollar personal lender. But the application was so astoundingly onerous, especially in light of how small the maximum award amounts are, that we decided not to apply. I am, however, open to hearing ideas for partnership on an app! Feel free to email me: andy@goodfund.us - Andy ------------------------------ Andrew Posner Founder & CEO Capital Good Fund Providence RI 401.339.5437 --- [More]

Westchester NY NPO/Affordable Housing developer/consultant sought

Wed, 2021-06-09 19:38
From : Communities>>Open Forum
Hi Everyone,  I have been talking to a friend who is board chair of a community center in Westchester, NY.  They would like to enter into a partnership to construct affordable housing on the site and renovate their current facility.  Does anyone know a group or consultant who can help this NPO identify quality partners for this effort and help through the process that maximize benefits to the NPO and the surrounding community?   Community Vision does this type of work in California but I am unfamiliar [More]

RE: CDFI's small dollar program

Wed, 2021-06-09 09:55
From : Communities>>Open Forum
We are in a similar situation and would be interested in partnering with a CDFI in SE PA or serving PA. ------------------------------ Edward Swoyer President Greater Berks Development Fund Reading PA (610) 898-7796 ------------------------------

Consultant RFQ: Reparative Lending

Tue, 2021-06-08 19:52
From : Communities>>Open Forum
Hi all,  as we work toward becoming an anti-racist CDFI, Community Vision is looking for a consultant to support our lending staff in developing reparative lending policies and practices. Our consultant RFQ is attached here-- please feel free to share this with people or organizations that might be a fit. If anyone would like more information about this project and the consultancy, please get in touch at nschaffran@communityvisionca.org.  Many thanks, Nate Schaffran Co-Director of Lending Community [More]

Files Attached Document
Consultant RFQ: Reparative Lending

RE: Alternative payment predictive mechanism

Tue, 2021-06-08 13:14
From : Communities>>Open Forum
While there have been other opinions expressed, you'll never get to the end of them. Those with a number of years of lending experience to those like me with decades still have to deal with the same challenges on SDL's. Key element has always been cost of providing the service against the value of achievable results. So I wonder if there isn't a view of this type of lending going back to the small dollar Peer or Lending Circle style. the TA can then be partially group based plus one on one. We have [More]

Funding Opportunity Through CBA Fund

Tue, 2021-06-08 12:28
From : Communities>>Open Forum
CBA Fund, CBA's Community Development Financial Institution intermediary, is excited to announce a new funding opportunity for nonprofit lenders. With generous support from Wells Fargo, CBA Fund is providing loan capital, grants, and technical assistance to nonprofits so they can offer affordable small dollar consumer loans in their community. This funding is available for nonprofits, credit unions. and Tribal entities that are currently offering small dollar consumer loans or would like to offer [More]

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