Organizations Filed Purposes:
TO DELIVER AFFORDABLE CAPITAL AND RESPONSIBLE FINANCIAL SOLUTIONS (SEE SCH. O FOR CONTINUATION) TO UNDERSERVED ENTREPRENEURS AND COMMUNITIES, WITH A SPECIAL FOCUS ON LOW-INCOME PEOPLE, PEOPLE OF COLOR, AND WOMEN.
SMALL BUSINESS LENDING PROGRAM - THE ORGANIZATION MAKES LOANS TO SMALL BUSINESSES THAT LACK ACCESS TO AFFORDABLE CREDIT FROM TRADITIONAL SOURCES. SINCE INCEPTION, THE ORGANIZATION HAS MADE OVER 19,000 LOANS TOTALING $505 MILLION TO SMALL BUSINESSES WHOSE OWNERS ARE PRIMARILY PEOPLE OF COLOR AND LOW AND MODERATE INCOME. THE ORGANIZATION OFFERS LOANS OUTSIDE OF CALIFORNIA IN FORTY FOUR ADDITIONAL STATES. MANY LOANS TO CALIFORNIA BASED BORROWERS ARE ENROLLED IN A LOAN LOSS RESERVE FUNDED BY THE STATE OF CALIFORNIA AS PART OF ITS CAPITAL ACCESS PROGRAM.THE ORGANIZATION SELLS PARTICIPATIONS IN ITS LOAN PORTFOLIO TO A FEW INSTITUTIONS. THE PURPOSE OF THESE SALES IS TO MANAGE CREDIT CONCENTRATION IN THE ORGANIZATION'S PORTFOLIO AND TO RAISE ADDITIONAL CAPITAL AS IT GROWS. LOANS ARE TYPICALLY SOLD AT A PREMIUM OVER FACE VALUE AND THE ORGANIZATION RETAINS THE SERVICING OF THE LOANS, FOR WHICH IT CHARGES A MONTHLY FEE.
NEW MARKET TAX CREDITS PROGRAM - IN 2003, THE ORGANIZATION WAS CERTIFIED BY THE U.S. DEPARTMENT OF TREASURY COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION FUND ("CDFI FUND") AS A COMMUNITY DEVELOPMENT ENTITY ("CDE") UNDER ITS NEW MARKET TAX CREDIT ("NMTC") PROGRAM. AS OF JUNE 30, 2020, THE ORGANIZATION HAS RECEIVED A CUMULATIVE TOTAL OF $388 MILLION OF TAX CREDIT ALLOCATIONS. THE ORGANIZATION THROUGH ITS SUBSIDIARY CDE, THE LCD NEW MARKETS FUND, LLC USES THESE ALLOCATIONS TO ATTRACT NEW CAPITAL TO SUPPORT LARGE REAL ESTATE PROJECTS PROVIDING HIGH COMMUNITY IMPACT IN LOW INCOME AREAS. AS OF JUNE 30, 2020 AND 2019, THE ORGANIZATION HAS DEPLOYED $377 MILLION AND $342 MILLION IN QUALIFIED EQUITY INVESTMENTS ("QEIS"), RESPECTIVELY.
POLICY PROGRAM: OPPORTUNITY FUND CONDUCTS PROGRAM EVALUATION AND RESEARCH AND ADVOCATES FOR FEDERAL, STATE AND LOCAL PUBLIC POLICIES THAT WILL BENEFIT OUR MISSION AND THE WORKING FAMILIES THAT OUR PROGRAMS SERVE.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Luz Lopez Urrutia | PRESIDENT & CEO | 40 | $320,621 |
| Michael Rapaport | EVP, SMALL BUSINESS LENDING | 40 | $234,989 |
| Eric Weaver | EXECUTIVE VICE PRESIDENT | 40 | $226,611 |
| Alex Dang | SENIOR DIRECTOR STRATEGY | 40 | $215,548 |
| Luis Rodriguez | VP OPERATIONS & COMPLIANCE | 40 | $209,836 |
| Elizabeth Pesch To 112019 | EVP & CFO | 40 | $204,780 |
| Jeff Wells To 042019 | VP NEW MARKETS PROGRAM | 40 | $194,736 |
| Christopher Berini | CHIEF DEVELOPMENT OFFICER | 40 | $179,781 |
| Shelley Harrison | CHIEF MARKETING OFFICER | 40 | $172,719 |
| Mike Torres Start 6252020 | EVP & CFO | 40 | $171,610 |
| Laura Kvalheim | VP, TECHNOLOGY & PMO | 40 | $166,828 |
| Janine Gardner | VP HR | 40 | $164,515 |
| Charles J Hilton To 32020 | SENIOR VICE PRESIDENT | 40 | $133,195 |
| Adriana Eiriz | VP, SALES & PARTNERSHIPS | 40 | $121,331 |
| S Jamila Buckner Start 92019 | CHIEF PEOPLE OFFICER | 40 | $55,814 |
| Madeleine Fackler | DIRECTOR (START 02/20) | 1 | $0 |
| Esteban Altschul | DIRECTOR (START 02/20) | 1 | $0 |
| Michael Schlein | DIRECTOR (START 02/20) | 1 | $0 |
| Solana Cozzo | DIRECTOR (START 02/20) | 1 | $0 |
| Swati Bhatia | DIRECTOR (START 02/20) | 1 | $0 |
| Phil Black | DIRECTOR (START 02/20) | 1 | $0 |
| Brian Graham | DIRECTOR | 1 | $0 |
| Debra Engel | DIRECTOR | 1 | $0 |
| Parker Hudnut | DIRECTOR | 1 | $0 |
| Sara Leslie | DIRECTOR | 1 | $0 |
| Dickson Chu | DIRECTOR | 1 | $0 |
| Joni Cropper | DIRECTOR | 1 | $0 |
| Yun-Fang Juan | DIRECTOR | 1 | $0 |
| Todd Baker | DIRECTOR | 1 | $0 |
| Arthur Johnson | DIRECTOR | 1 | $0 |
| Mickey Konson | ASST. SECRETARY (START 02/20) | 1 | $0 |
| Jim Koshland | VICE CHAIR & SECRETARY | 1 | $0 |
| Greg Avis | BOARD CHAIR | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202110789349300726_public.xml