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 |