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Nonprofit · EIN 41-1616861

COMMUNITY REINVESTMENT FUND INC

Tax-exempt · MINNEAPOLIS, MN 55402

Financials

$55.5M$45.5M2022$35.7M$32.8M2023$46.8M$31.4M2024
Revenue Expenses · by fiscal year end
Financials of COMMUNITY REINVESTMENT FUND INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$46,782,310$31,421,112$15,361,198$199,070,542$105,461,967$93,608,575
June 30, 2024990$35,726,052$32,849,855$2,876,197$189,995,061$111,823,415$78,171,646
June 30, 2023990$55,474,462$45,512,446$9,962,016$193,075,984$117,764,845$75,311,139
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$28,677,919
Program service revenue
$18,075,081
Investment income
$0
Other revenue
$29,310

Expenses

Grants and similar amounts paid
$350,000
Compensation of officers, directors and key employees
$3,043,491
Other salaries and wages
$8,925,407
Salaries, compensation and benefits (total)
$15,310,779
Professional fundraising fees
$0
Legal fees
$432,110
Accounting fees
$331,345
Occupancy
$418,068
Travel
$360,638
Depreciation
$880,751
Program services (functional)
$25,138,961
Management and general (functional)
$5,724,503
Fundraising (functional)
$557,648

Balance sheet and other

Total assets, start of year
$189,995,061
Total assets, end of year
$199,070,542
Total liabilities, end of year
$105,461,967
Net assets, end of year
$93,608,575
Land, buildings and equipment
$1,363,808
Net assets without donor restrictions
$91,253,994
Net assets with donor restrictions
$2,354,581
Gross receipts
$46,782,310
Employees
106
Volunteers
18
Year formed
1988
State of legal domicile
MN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
MATTHEW ROTHCEO & PRESIDENT
Trustee or director, Officer
40$532,348$33,495
JENNIFER NOVAKSVP CDFI FUND PROGRAMS
Officer
40$269,696$44,150
ALEXIS DISHMANSVP CHIEF LENDING OFFICER
Officer
40$245,584$30,774
PATRICK DAVISSVP PLATFORM AND TECHNOLOGY SERVICES
Officer
40$252,907$22,966
KINFE ARGAWSVP CHIEF CREDIT OFFICER
Officer
40$233,087$42,319
CHARITY VICKERSSVP CHIEF PEOPLE OFFICER
Officer
40$241,201$33,661
PAUL TREMEWANSVP CHIEF FINANCIAL OFFICER
Officer
40$250,883$22,865
KATELYN BEDNARSKISVP CHIEF OF STAFF
Officer
40$212,047$41,267
ANNA BURGETTCHIEF LEGAL COUNSEL
Officer
40$210,789$41,204
SANDRA DELANCYSENIOR DIRECTOR OF EDMA
Highest-paid employee
40$201,019$40,716
ERIK O'LEARYPRINCIPAL ARCHITECT
Highest-paid employee
40$212,759$20,959
PETER BERNACIAKVP, STRUCTURED FINANCE
Highest-paid employee
40$188,892$31,046
ANISHA MURPHYVP, PROGRAM DESIGN/EXECUTION
Highest-paid employee
40$189,025$19,772
CYRUS KHARASVP, PROGRAM DESIGN/EXECUTION
Highest-paid employee
40$198,059$9,903
ERIC CHAPINGENERAL COUNSEL THRU 8/24
Officer
40$160,210$28,453
19 more people on this return
NameTitleHours / weekCompensationOther / benefits
JENNIFER ANDERSONCHIEF ADMIN OFFICER THRU 3/24
Officer
40$90,243$8,112
DANIEL SPILLERCHAIR
Trustee or director, Officer
1$0$0
STEVE KENTTREASURER
Trustee or director, Officer
1$0$0
JEANINE JACOKESSECRETARY AS OF 1/25
Trustee or director, Officer
1$0$0
LAURA TRUDEAUSECRETARY THRU 1/25
Trustee or director, Officer
1$0$0
REZA AGHAMIRZADEHTRUSTEE
Trustee or director
1$0$0
RUBEN ALONSOTRUSTEE
Trustee or director
1$0$0
GAVIN BOROWIAKTRUSTEE
Trustee or director
1$0$0
TONY BROWNTRUSTEE
Trustee or director
1$0$0
CHRYSTEL CORNELIUSTRUSTEE
Trustee or director
1$0$0
JA'NET DEFELLTRUSTEE AS OF 1/25
Trustee or director
1$0$0
RENAY DOSSMANTRUSTEE AS OF 1/25
Trustee or director
1$0$0
LUTHER RAGIN JRTRUSTEE
Trustee or director
1$0$0
SARA RAZAVITRUSTEE AS OF 3/25
Trustee or director
1$0$0
KATHY ROCKTRUSTEE
Trustee or director
1$0$0
GEORGE SURGEONTRUSTEE AS OF 3/25
Trustee or director
1$0$0
JIE WANGTRUSTEE
Trustee or director
1$0$0
CALVIN HOLMESTRUSTEE THRU 1/25
Trustee or director
1$0$0
BILL KRUGLERTRUSTEE THRU 3/25
Trustee or director
1$0$0
990 for the year ended June 30, 2024: 37 people
NameTitleHours / weekCompensationOther / benefits
JENNIFER ANDERSONCHIEF ADMIN OFFICER THRU 3/24
Officer
40$453,974$42,650
KEITH RACHEYEVP CHIEF IMPACT OFFICER THRU 6/23
Officer
40$415,450$35,000
MATTHEW ROTHCEO & PRESIDENT AS OF 3/23
Trustee or director, Officer
40$298,558$9,025
JENNIFER NOVAKSVP CDFI LENDING PROGRAMS
Officer
40$247,434$49,422
ERIC CHAPINSVP GENERAL COUNSEL
Officer
40$211,195$47,610
JENNIFER ERICSONVP OF LENDING
Highest-paid employee
40$218,805$37,090
CHARITY VICKERSSVP & CHIEF PEOPLE OFFICER
Officer
40$215,000$40,282
PAUL TREMEWANSVP & CHIEF FINANCIAL OFFICER
Officer
40$220,408$26,020
PATRICK DAVISSVP PLATFORM & TECH SERVICES
Officer
40$212,501$23,257
SANDRA DELANCYSENIOR DIRECTOR OF EDMA
Highest-paid employee
40$185,906$43,863
ERIK O'LEARYPRINCIPAL ARCHITECT
Highest-paid employee
40$182,031$46,152
FRANK ALTMANCEO THRU 7/23
Officer
40$210,007$16,800
TASHA PARKERVP BUSINESS OPERATIONS
Highest-paid employee
40$183,138$43,599
KINFE ARGAWSVP CHIEF CREDIT OFFICER
Officer
40$179,701$46,035
ANNA BURGETTSENIOR ASSOCIATE GENERAL COUNSEL
Highest-paid employee
40$177,545$45,927
KATELYN BEDNARSKISVP CHIEF OF STAFF
Officer
40$170,934$45,680
SIMON MCNEILSVP & COO THRU 6/23
Officer
40$177,131$19,130
ALEXIS DISHMANSVP CHIEF LEND. OFFICER AS OF 7/23
Officer
40$85,896$12,875
JUDITH JANDROSVP SMALL BUS. LENDING THRU 2/23
Officer
40$62,652$8,437
BRANDON DIXONSVP CHIEF CREDIT OFFICER THRU 2/23
Officer
40$39,235$8,194
DANIEL SPILLERCHAIR
Trustee or director, Officer
1$0$0
STEVE KENTTREASURER
Trustee or director, Officer
1$0$0
LAURA TRUDEAUSECRETARY
Trustee or director, Officer
1$0$0
REZA AGHAMIRZADEHTRUSTEE
Trustee or director
1$0$0
CHRYSTEL CORNELIUSTRUSTEE
Trustee or director
1$0$0
CALVIN HOLMESTRUSTEE AS OF 10/23
Trustee or director
1$0$0
BILL KRUGLERTRUSTEE
Trustee or director
1$0$0
TONY BROWNTRUSTEE
Trustee or director
1$0$0
KATHY ROCKTRUSTEE
Trustee or director
1$0$0
RUBEN ALONSOTRUSTEE
Trustee or director
1$0$0
JEANINE JACOKESTRUSTEE
Trustee or director
1$0$0
GAVIN BOROWIAKTRUSTEE
Trustee or director
1$0$0
LUTHER RAGIN JRTRUSTEE
Trustee or director
1$0$0
JIE WANGTRUSTEE AS OF 6/24
Trustee or director
1$0$0
DAVID ADAMETRUSTEE THRU 10/23
Trustee or director
1$0$0
WILLIE LOGANTRUSTEE THRU 1/24
Trustee or director
1$0$0
JACQUELINE WOODSTRUSTEE THRU 6/24
Trustee or director
1$0$0
990 for the year ended June 30, 2023: 38 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
FRANK ALTMANCEO
Officer
40$701,411$0$24,688
JENNIFER ANDERSONCHIEF ADMINISTRATIVE OFFICER
Officer
40$521,050$0$42,203
KEITH RACHEYEVP CHIEF IMPACT OFFICER UNTIL 6/23
Officer
40$449,342$0$42,528
NICHOLAS ELDERSCEO - IGNIFY
Highest-paid employee
0$0$388,010$68,738
GARY HOLMQUISTREGIONAL DIRECTOR OF BUSINESS DEVELOPMENT UNTIL 6/
Highest-paid employee
40$324,437$0$42,159
JENNIFER NOVAKSVP CAPITAL MARKETS
Officer
40$314,137$0$42,201
ERIK SWENSONCHIEF OPERATING OFFICER - IGNIFY
Highest-paid employee
0$0$295,860$54,756
ERIK MAUCHIEF TECHNOLOGY OFFICER - IGNIFY
Highest-paid employee
0$0$292,920$56,585
JUDITH JANDROSVP SMALL BUSINESS LENDING UNTIL 2/23
Officer
40$286,689$0$41,282
SIMON MCNEILSVP OPERATIONS UNTIL 6/23
Officer
40$285,157$0$29,995
ERIC CHAPINGENERAL COUNSEL
Officer
40$251,429$0$39,716
PATRICK DAVISSVP OF PLATFORM AND TECH SERVICES
Officer
40$247,868$0$19,332
BRANDON DIXONCHIEF CREDIT OFFICER UNTIL 2/23
Officer
40$225,891$0$38,385
PAUL TREMEWANSVP & CFO
Officer
40$229,626$0$24,241
ERIK O'LEARYPRINCIPAL ARCHITECT
Highest-paid employee
40$217,436$0$17,847
KINFE ARGAWSVP CHIEF CREDIT OFFICER
Officer
40$181,175$0$35,778
DEBRA MOUNSEYVP OF HUMAN RESOURCES UNTIL 9/22
Key employee
40$189,859$0$16,080
CHARITY VICKERSSVP CHIEF PEOPLE OFFICER
Officer
40$37,593$0$2,519
MATTHEW ROTHCEO & PRESIDENT
Trustee or director, Officer
40$0$0$0
REZA AGHAMIRZADEHCHAIR
Trustee or director, Officer
1$0$0$0
DANIEL SPILLERVICE CHAIR
Trustee or director, Officer
1$0$0$0
STEVEN KENTTREASURER
Trustee or director, Officer
1$0$0$0
LAURA TRUDEAUSECRETARY
Trustee or director
1$0$0$0
DAVID ADAMETRUSTEE
Trustee or director
1$0$0$0
RUBEN ALONSO IIITRUSTEE
Trustee or director
1$0$0$0
GAVIN BOROWIAKTRUSTEE
Trustee or director
1$0$0$0
TONY BROWNTRUSTEE
Trustee or director
1$0$0$0
CHRYSTEL CORNELIUSTRUSTEE
Trustee or director
1$0$0$0
GARY CUNNINGHAMTRUSTEE UNTIL 3/23
Trustee or director
1$0$0$0
CALVIN HOLMESTRUSTEE UNTIL 2/23
Trustee or director
1$0$0$0
JEANNINE JACOKESTRUSTEE
Trustee or director
1$0$0$0
WILLIAM KRUGLERTRUSTEE
Trustee or director
1$0$0$0
WILLIE LOGANTRUSTEE
Trustee or director
1$0$0$0
ANDY POSNERTRUSTEE UNTIL 6/23
Trustee or director
1$0$0$0
LUTHER RAGIN JRTRUSTEE
Trustee or director
1$0$0$0
KATHRYN ROCKTRUSTEE
Trustee or director
1$0$0$0
STEFANIE STEWARD-YOUNGTRUSTEE UNTIL 2/23
Trustee or director
1$0$0$0
JACQUELINE WOODSTRUSTEE
Trustee or director
1$0$0$0

Address and contacts

Address (IRS master file)
801 NICOLLET MALL STE 1700W, MINNEAPOLIS, MN 55402-2532
In care of
% JENNIFER ANDERSON
Principal officer (990 for 2024)
MATTHEW ROTH, 801 NICOLLET MALL 1700W, MINNEAPOLIS, MN 55402
Signed the 990
PAUL TREMEWAN, CFO
Phone
(612) 338-3050
Return prepared by
CLIFTONLARSONALLEN LLP

Mission

TO EXPAND ECONOMIC OPPORTUNITY FOR SMALL BUSINESSES AND COMMUNITIES BY REIMAGINING THE WAY CAPITAL AND RESOURCES FLOW.

990 for the year ended June 30, 2025

Program accomplishments

  • 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 GUARANTEE PROGRAM. DURING THE FISCAL YEAR 2025, CRF PROVIDED FINANCING TOTALING $72 MILLION TO SMALL BUSINESSES VIA DIRECT LENDING AND ALSO ISSUED $325 MILLION VIA BGP, LEADING TO THE CREATION OR RETENTION OF OVER 2,900 JOBS.
    Expenses $21,114,818 · grants $350,000 · revenue $15,468,781
  • 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 AS PARTNERSHIPS BETWEEN TRADITIONAL BANKS AND CDFIS. DURING THE FISCAL YEAR 2025, CRF FACILITATED THE ORIGINATION OF APPROXIMATELY 453 LOANS TOTALING $44.6 MILLION.
    Expenses $2,620,890 · revenue $899,764
  • 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, EQUIPMENT, AND OTHERS. DURING THE 2025 FISCAL YEAR, CRF PROVIDED THIRD PARTY LOAN SERVICING SUPPORT FOR 18 COMMUNITY DEVELOPMENT LENDERS WITH VOLUME OF APPROXIMATELY 356 LOANS TOTALING $33.3 MILLION. DURING THE 2025 FISCAL YEAR, CRF PROVIDED ADMINISTRATION FOR 8 FUNDS WITH ASSETS TOTALING MORE THAN $52.2 MILLION.
    Expenses $1,403,253 · revenue $1,706,536

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
41-1616861
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization (509(a)(3))
Donations deductible (Pub 78)
Supporting organization of unknown type
Exempt since
1989
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$199,070,542
Income (IRS master file)
$46,782,310

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$46,782,310$31,421,112$199,070,542XML
990-TJune 2025–––IRS
990June 2024$35,726,052$32,849,855$189,995,061XML
990-TJune 2024–––IRS
990June 2023$55,474,462$45,512,446$193,075,984XML
990-TJune 2023–––IRS
990June 2022$38,368,250$32,918,771$166,360,640IRS
990-TJune 2022–––IRS
990June 2021–––IRS
990-TJune 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS
990June 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1616861).

Questions about COMMUNITY REINVESTMENT FUND INC

What is the EIN of COMMUNITY REINVESTMENT FUND INC?
The employer identification number (EIN) of COMMUNITY REINVESTMENT FUND INC is 41-1616861.
Is COMMUNITY REINVESTMENT FUND INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
Are donations to COMMUNITY REINVESTMENT FUND INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
Which annual return does COMMUNITY REINVESTMENT FUND INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of COMMUNITY REINVESTMENT FUND INC due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did COMMUNITY REINVESTMENT FUND INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of COMMUNITY REINVESTMENT FUND INC?
The 990 for the year ended June 30, 2025 names MATTHEW ROTH.
Who are the officers and directors of COMMUNITY REINVESTMENT FUND INC?
The 990 for the year ended June 30, 2025 lists 34 people; 16 received compensation from the organization, the highest $532,348 (MATTHEW ROTH, CEO & PRESIDENT).
How much revenue does COMMUNITY REINVESTMENT FUND INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $46,782,310, expenses of $31,421,112 and total assets of $199,070,542 at year end.

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