The Development Fund is a 501 (c) (3)
nonprofit organization established in 1963, with a mission of developing
innovative financing vehicles that can attract private-sector capital for
community purposes. Since 1986, The Development Fund pioneered and has
progressively refined the model of a collaborative financing intermediary.
These financing intermediaries are self-sustaining vehicles that attract
investments from financial institutions and corporations on a large
scale.
To date, The Development Fund has created
thirteen (13) such financing intermediaries in ten states around the
country dedicated to a range of community activities, including affordable
housing, small business financing, and economic development. In total,
these programs have generated over $1.0 billion dollars in new
private-sector financing from more than 300 banks and corporations
nationally.
|
TYPE OF ACTIVITY |
Number of Investing
Institutions |
Investment
Commitment
($ MM) |
Outstanding
Investment
($ MM) |
|
Private Equity Fund for Housing Affordable
to Middle Income Purchasers - California |
10 |
$75 |
$20 |
|
Institutional Investor Based Secondary
Market Fund - California
|
10 |
$750+ |
$215 |
|
Small Business and Community Development
Facilities Lending - California |
46 |
$65 |
$70 |
|
Affordable Housing - Southeastern United States
Two Non - profit
Funds |
52 |
$150 |
$60 |
|
Affordable Housing - Northeastern United States
Two Non - profit
Funds |
45 |
$60 |
$15 |
|
Affordable Housing - Western United States
Three Non - profit
Funds |
155 |
$475 |
$320 |
|
Brownfields Finance - California
Public
Purpose Corporation
|
8 |
$140 |
$40 |
|
South African Investment Initiatives - (work
in progress) |
TBD |
TBD |
n/a |
|
TOTAL |
326 |
$1,715 |
$740 |