Nonprofit · EIN 54-1442466
WASHINGTON AREA COMMUNITY INVESTMENT FUND INC
Tax-exempt · WASHINGTON, DC 20018
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $6,672,318 | $6,907,756 | -$235,438 | $11,508,062 | $6,057,282 | $5,450,780 |
| December 31, 2024 | 990 | $4,141,530 | $6,386,456 | -$2,244,926 | $12,057,310 | $6,369,850 | $5,687,460 |
| December 31, 2023 | 990 | $7,616,507 | $10,848,582 | -$3,232,075 | $14,335,295 | $6,391,482 | $7,943,813 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $5,823,819
- of which government grants
- $1,098,099
- Program service revenue
- $658,591
- Investment income
- $152,878
- Other revenue
- $37,030
Expenses
- Grants and similar amounts paid
- $844,625
- Compensation of officers, directors and key employees
- $1,167,940
- Other salaries and wages
- $1,579,988
- Salaries, compensation and benefits (total)
- $3,122,124
- Professional fundraising fees
- $118,001
- Legal fees
- $41,957
- Accounting fees
- $93,882
- Occupancy
- $100,752
- Travel
- $15,221
- Depreciation
- $4,000
- Program services (functional)
- $4,346,767
- Management and general (functional)
- $1,602,045
- Fundraising (functional)
- $958,944
Balance sheet and other
- Total assets, start of year
- $12,057,310
- Total assets, end of year
- $11,508,062
- Total liabilities, end of year
- $6,057,282
- Net assets, end of year
- $5,450,780
- Land, buildings and equipment
- $20,000
- Publicly traded securities
- $239
- Net assets without donor restrictions
- $3,515,878
- Net assets with donor restrictions
- $1,934,902
- Gross receipts
- $6,672,318
- Employees
- 35
- Volunteers
- 20
- Year formed
- 1987
- State of legal domicile
- VA
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 December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHANNAN HERBERT | CHIEF EXECUTIVE OFFICER Officer | 40 | $251,622 | $37,587 |
| KIMBERLY GAYLE | CHIEF PROGRAMS OFFICER Officer | 40 | $159,177 | $21,758 |
| MEGAN CARRAS | CHIEF DEVELOPMENT OFFICER Officer | 40 | $159,260 | $9,823 |
| KARA ULMER | OPERATIONS DIRECTOR Officer | 40 | $155,932 | $12,827 |
| MESSAY DEREBE | AAC GENERAL DIRECTOR Highest-paid employee | 30 | $151,382 | $16,282 |
| JUNELL VENORD | HUMAN CAPITAL DIRECTOR Highest-paid employee | 40 | $133,459 | $13,507 |
| JOHN MCLEAN | CHIEF FINANCIAL OFFICER Officer | 40 | $126,440 | $13,541 |
| MARISELA RODELA | OWI PROGRAM DIRECTOR Highest-paid employee | 40 | $105,883 | $22,605 |
| RASUL SHA'IR | SMALL BUSINESS ADVISOR Highest-paid employee | 40 | $100,880 | $16,637 |
| DAVID MALEY | INTERIM CFO UNTIL MARCH 2025 Officer | 40 | $100,594 | $9,550 |
| MATT GLATTING | BOARD CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| EVAN PIEKARA | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT RIORDAN | BOARD VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| ANDREA LONGTON | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| COURTNEY R SNOWDEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
15 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARISA G FLOWERS | BOARD MEMBER Trustee or director | 1 | $0 |
| JESSEL AMIN | BOARD MEMBER Trustee or director | 1 | $0 |
| CARYLN MADDEN | BOARD MEMBER Trustee or director | 1 | $0 |
| EMEKA MONEME | BOARD MEMBER Trustee or director | 1 | $0 |
| KLADE HARE NERSASIAN | BOARD MEMBER Trustee or director | 1 | $0 |
| COREY GRIFFIN | BOARD MEMBER Trustee or director | 1 | $0 |
| NANCY STARK | BOARD MEMBER Trustee or director | 1 | $0 |
| AQUIL STINSON | BOARD MEMBER Trustee or director | 1 | $0 |
| MACEO CLARK | BOARD MEMBER Trustee or director | 1 | $0 |
| NORA DIAMOND-JONES | BOARD MEMBER Trustee or director | 1 | $0 |
| MALACHI MCKINNEY | BOARD MEMBER Trustee or director | 1 | $0 |
| BRIAN NAGENDRA | BOARD MEMBER Trustee or director | 1 | $0 |
| ALEXANDRA SING | BOARD MEMBER Trustee or director | 1 | $0 |
| SCOTT YOCHUM | BOARD MEMBER Trustee or director | 1 | $0 |
| SUSAN CAPPELINI | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 26 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHANNAN HERBERT | CHIEF EXECUTIVE OFFICER Officer | 40 | $209,947 | $23,544 |
| MEGAN CARRAS | CHIEF DEVELOPMENT OFFICER Highest-paid employee | 40 | $181,790 | $9,462 |
| KIMBERLY GAYLE | CHIEF PROGRAMS OFFICER Officer | 40 | $168,027 | $19,996 |
| SHAUNA YELDELL | CHIEF LENDING OFFICER UNTIL 10/16/24 Highest-paid employee | 40 | $152,730 | $34,648 |
| MESSAY DEREBE | AAC GENERAL DIRECTOR Highest-paid employee | 30 | $146,736 | $14,950 |
| SHERRY GUSTAFSON | DIRECTOR OF FINANCE UNTIL 12/06/2024 Highest-paid employee | 40 | $142,806 | $16,677 |
| JUNELL VENORD | SENIOR HUMAN CAPITAL DIRECTOR Highest-paid employee | 40 | $143,488 | $13,399 |
| KEVIN FRYATT | CFOO & CO-INTERIM CEO UNTIL 5/3/24 Officer | 40 | $82,837 | $11,988 |
| NANCY STARK | BOARD CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| NORA DIAMOND-JONES | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT RIORDAN | BOARD VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| BRIAN NAGENDRA | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| COURTNEY R SNOWDEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARISA G FLOWERS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JESSEL AMIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CARYLN MADDEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| EMEKA MONEME | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KLADE HARE NERSASIAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ABIGAIL SUAREZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| COREY GRIFFIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MATTHIAS GLATTING | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| AQUIL STINSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MACEO CLARK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ANDREA LONGTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MALACHI MCKINNEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| EVAN PIEKARA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KEVIN FRYATT CFOO UNTIL 122023 | CO-INTERIM CEO SINCE 12/2023 Officer | 40 | $160,755 | $30,593 |
| SHAUNA YELDELL | CHIEF LENDING OFFICER Highest-paid employee | 40 | $147,146 | $34,208 |
| BRENDON MILLER CHIEF OF STAFF | UNTIL 5/2023,INTERIM CEO SINCE 5/23 Officer | 40 | $169,033 | $8,601 |
| KIMBERLY GAYLE CHIEF PROGRAMS | OFFICER UNTIL 12/2023,CO-INTERIM CEO FROM 12/23 Officer | 40 | $147,127 | $16,482 |
| MEGAN CARRAS | CHIEF DEVELOPMENT OFFICER Highest-paid employee | 40 | $136,693 | $8,748 |
| SOWMYA PELLURU CHIEF | COMMUNICATIONS & BRANDING OFFICER Highest-paid employee | 40 | $133,545 | $11,801 |
| JUNELL VENORD | HUMAN CAPITAL DIRECTOR Highest-paid employee | 40 | $122,657 | $12,109 |
| KARA ULMER | OPERATIONS DIRECTOR Highest-paid employee | 40 | $117,074 | $7,043 |
| HAROLD PETTIGREW | CHIEF EXECUTIVE OFFICER-UNTIL 5/2023 Officer | 40 | $61,946 | $8,975 |
| NANCY STARK | BOARD CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| NORA DIAMOND-JONES | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT RIORDAN | BOARD VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| BRIAN NAGENDRA | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| BRIAN LEWALD | BOARD MEMBER - UNTIL 11/2023 Trustee or director | 1 | $0 | $0 |
| COURTNEY R SNOWDEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARISA G FLOWERS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JESSEL AMIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CARYLN MADDEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| EMEKA MONEME | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KLADE HARE NERSASIAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ABIGAIL SUAREZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| COREY GRIFFIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MATTHIAS GLATTING | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| AQUIL STINSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2012 RHODE ISLAND AVE NE, WASHINGTON, DC 20018-2835
- In care of
- % WASHINGTON COMMUNITY INV FUN
- Principal officer (990 for 2025)
- SHANNAN HERBERT, 2012 RHODE ISLAND AVENUE NE, WASHINGTON, DC 20018
- Signed the 990
- SHANNAN HERBERT, CHIEF EXECUTIVE OFFICER
- Phone
- (202) 529-5505
- Website
- WWW.WACIF.ORG
- Return prepared by
- MITCHELL & TITUS LLP
Mission
THE WASHINGTON AREA COMMUNITY INVESTMENT FUND (WACIF) IS A NONPROFIT COMMUNITY LOAN FUND FOCUSED ON INCREASING EQUITY AND ECONOMIC OPPORTUNITY IN THE WASHINGTON, DC AREA'S UNDERSERVED COMMUNITIES. WACIF'S MISSION IS DRIVEN BY THREE STRATEGIC PILLARS: INCLUSIVE ENTREPRENEURSHIP, COMMUNITY WEALTH BUILDING, AND EQUITABLE ECONOMIC OPPORTUNITY, AND IS FULFILLED BY PROVIDING ACCESS TO CAPITAL PRODUCTS AND SERVICES, AND CAPACITY BUILDING ADVISORY SERVICES TO LOW- AND MODERATE-INCOME ENTREPRENEURS.
Program accomplishments
- SMALL BUSINESS ADVISORY SERVICES - WACIF PROVIDES A VARIETY OF ADVISORY OPPORTUNITIES IN UNDERSERVED D.C. AREA COMMUNITIES INCLUDING 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. WACIF'S SMALL BUSINESS ADVISORY EXPERTISE AND OFFERINGS COVER TOPICS INCLUDING BUSINESS PLANNING, MARKETING, FINANCIAL MANAGEMENT, LAW, REAL ESTATE, AND GETTING TRANSACTION-READY.IN 2025, WACIF MADE A POWERFUL DIFFERENCE, DELIVERING A TRANSFORMATIVE YEAR OF IMPACT. WACIF HOSTED 109 EVENTS WITH A COMBINED 1057 ATTENDEES AND PROVIDED OVER 591 HOURS OF TECHNICAL ASSISTANCE, EMPOWERING ENTREPRENEURS AND SMALL BUSINESS OWNERS WITH THE TOOLS THEY NEED TO SUCCEED.THROUGH STRATEGIC COLLABORATION WITH MORE THAN 36 GROWTH PARTNERS, PROFESSIONAL SERVICE PROVIDERS, INSTRUCTORS, ARTISTS, AND CREATIVES, WACIF DELIVERED TOP-TIER SUPPORT THAT STRENGTHENED OUR CLIENTS' PATHWAYS TO GROWTH AND SUSTAINABILITY. ADDITIONALLY, OUR OUTREACH AND ENGAGEMENT EFFORTS EXTENDED TO OVER 16 ORGANIZATIONS ACROSS MARYLAND AND VIRGINIA, WHERE WE LED PANEL DISCUSSIONS, DELIVERED CAPITAL READINESS TRAINING, AND BUILT STRONGER ENTREPRENEURIAL ECOSYSTEMS.Expenses $2,978,046 · grants $844,625 · revenue $37,030
- LENDING - WACIF'S ACCESS TO CAPITAL AND LENDING ACTIVITIES PROVIDE FLEXIBLE FINANCING FOR SMALL BUSINESSES OWNED BY, OPERATING IN OR SERVING LOW-TO-MODERATE INCOME COMMUNITIES IN THE DC AREA. IN 2025, WACIF DEPLOYED OVER $1.4M IN LOANS TO SMALL BUSINESSES, INCLUDING TERM LOANS AND LINES OF CREDIT, AND GROSS PORTFOLIO OUTSTANDING YEAR-END WAS $4.9M. WACIF HAS SEVERAL LOAN FUNDS TO SUPPORT A CONTINUUM OF ENTREPRENEURS THAT ARE UNABLE TO ACCESS TRADITIONAL FINANCING FROM BANKS, INCLUDING ESTABLISHED BUSINESS OWNERS. WACIF'S VARIOUS LENDING PROGRAMS BRIDGE THE FINANCING GAP FOR UNDERSERVED ENTREPRENEURS GRADUATING TO TRADITIONAL LENDERS, CREATING ECONOMIC OPPORTUNITY IN LOW-TO-MODERATE INCOME COMMUNITIES. WACIF'S ACCESS TO CAPITAL (ATC) FUND IS THE ORGANIZATION'S HISTORICAL AND MOST FLEXIBLE SOURCE FOR SMALL BUSINESS FINANCING. THE ATC FUND REMAINS A COMMUNITY ASSET WHICH BEGAN WITH AND HAS BEEN SUSTAINED FOR OVER 30 YEARS BY INDIVIDUAL AND INSTITUTIONAL, SOCIALLY RESPONSIBLE INVESTORS SEEKING POSITIVE FINANCIAL AND SOCIAL RETURNS FROM THEIR INVESTMENT.Expenses $1,368,721 · revenue $658,591
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1442466
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1988
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $11,508,062
- Income (IRS master file)
- $6,672,318
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $6,672,318 | $6,907,756 | $11,508,062 | XML |
| 990 | December 2024 | $4,141,530 | $6,386,456 | $12,057,310 | XML |
| 990 | December 2023 | $7,616,507 | $10,848,582 | $14,335,295 | XML |
| 990 | December 2022 | $9,086,978 | $6,866,291 | $16,503,969 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 54-1442466).
Questions about WASHINGTON AREA COMMUNITY INVESTMENT FUND INC
- What is the EIN of WASHINGTON AREA COMMUNITY INVESTMENT FUND INC?
- The employer identification number (EIN) of WASHINGTON AREA COMMUNITY INVESTMENT FUND INC is 54-1442466.
- Is WASHINGTON AREA COMMUNITY INVESTMENT FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to WASHINGTON AREA COMMUNITY INVESTMENT FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WASHINGTON AREA COMMUNITY INVESTMENT 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 WASHINGTON AREA COMMUNITY INVESTMENT FUND INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WASHINGTON AREA COMMUNITY INVESTMENT FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of WASHINGTON AREA COMMUNITY INVESTMENT FUND INC?
- The 990 for the year ended December 31, 2025 names SHANNAN HERBERT.
- Who are the officers and directors of WASHINGTON AREA COMMUNITY INVESTMENT FUND INC?
- The 990 for the year ended December 31, 2025 lists 30 people; 10 received compensation from the organization, the highest $251,622 (SHANNAN HERBERT, CHIEF EXECUTIVE OFFICER).
- How much revenue does WASHINGTON AREA COMMUNITY INVESTMENT FUND INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $6,672,318, expenses of $6,907,756 and total assets of $11,508,062 at year end.
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