Annual Report
Standing Strong
At Clearinghouse CDFI, we believe in people. We are bound by the core value that individuals in low-income, distressed communities deserve access to affordable capital. The resulting economic opportunity provides both a greater quality of life and hope for future generations.
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It is hard to imagine a more difficult and challenging year than 2020. The
worldwide pandemic changed the business and economic climate for everyone.
Clearinghouse CDFI was not spared the impact of this crisis. It is often said that
“greatness is measured by how one responds to adversity”. I am extremely proud of our team’s 2020 response – continuing our mission of providing impactful loans, as well as finishing the year with sustained asset size growth while maintaining profitability.
Clearinghouse CDFI
Paycheck Protection Program
The Paycheck Protection Program (PPP) was created by the SBA in 2020 to help businesses retain employees and maintain operations during the COVID-19 crisis. To administrate this new and continuously evolving program, Clearinghouse CDFI team members came together in a massive undertaking unlike ever before to help small businesses access critically needed capital.
”Muchas gracias.Ustedes son una institución muy eficiente.Gracias de corazón.” — Rosemead, CA
”Lawrence and everyone was great to work with and hopefully again with another round of PPP loans. It has been really difficult with lockdowns!” — Albuquerque, NM
“Thank you for all you do and have done for me and others during this time. I truly appreciate your patience and taking the time to explain things.”— Eatonton, GA
Clearinghouse CDFI’s PPP Loans are Helping Small Businesses Nationwide:
James Sweeney III, DDS / Oasis Dental – Oakland, CA
4 Jobs Saved
$24,087 PPP Loan
$21.24 Million
Total PPP Loans Funded
1600
Employees/Jobs Saved
460
Small Businesses Saved
28
States Serviced
45,173
Average PPP Loan Amount
“Clearinghouse CDFI treats its borrowers as I treat my patients and people in my life—the way I want to be treated.”
— James Sweeney III, DDS
FVLCRUM Funds
FVLCRUM is an off-balance sheet entity created by Clearinghouse CDFI and strongly aligned with the efforts of the Minority Wealth Commission—a national commission dedicated to the eradication of the racial wealth gap.
FVLCRUM was established to focus solely on creating generational wealth in minority communities by creating sustainable paths to wealth.
The FVLCRUM Impact
- Create Community Ownership
- Enhance Amenities, Services, Infrastructure
- Create Generational Wealth
- Increase Median Incomes
FVLCRUM Investments
FVLCRUM will invest a combination of equity and debt in lower middle-market minority-owned businesses with a core sector focus of Government Contracting, Healthcare, and Franchising.
FOCUS: Minority Owned Businesses
- For-profit Minority Business Owners
- Nonprofits Managed by or Serving Minority Persons
- Benefiting Low-income Persons and Communities
2020 Achievements
Capital Magnet Fund Program
$2 Million from the U.S. Treasury CDFI Fund
Clearinghouse CDFI will use the award to finance the development of affordable housing, targeting projects which benefit homeless and other disenfranchised populations in CA, AZ, NV, and NM.
Financial Assistance Awards
$650,000 from the U.S. Treasury CDFI Fund
Clearinghouse CDFI will use the award to increase lending in vulnerable metropolitan areas, with a focus on New Mexico.
$100,000 in Persistent Poverty Counties - Financial Assistance
Clearinghouse CDFI will use the award to target financing for projects in counties with poverty rates of 20% or more.
$268,750 in Disability Fund - Financial Assistance
Clearinghouse CDFI will use the award to finance projects assisting individuals with disabilities.
Real Leaders 2021 Winner
CCDFI Ranked #41 in top 150
Impact Companies in the World
Awarded -
$65 MILLION
In New Markets Tax Credits (NMTC) Allocation
Pueblo of Laguna (NM)
$14 MILLION NMTC
- For water related infrastructure: sewage, filtration, and piping
- Serves six reservation villages in a highly distressed area and creates 40+ jobs
Oakland Civic Center (CA)
$12 MILLION NMTC
- Rehabilitation of a cultural and historic landmark that was abandoned for 10 years
- Creates community events/arts space and below-market rents for nonprofits
TERRA Network – Aleutians (AK)
$16.25 MILLION NMTC
- Development of a hybrid terrestrial fiber-optic and microwave network
- Connects Alaska’s most remote regions to critical public resources
Our Impact in 2020
3,800 Jobs
created or retained in 2020; 51% were located in areas of high unemployment
$49 Million
in financing to minority / women-owned or controlled organizations in 2020
1,137 Housing Units
created in 2020; 57% were designated affordable units
$128 Million
in financing for projects located in low-income communities
$1.98 Billion
in cumulative lending since inception
23,000 Jobs
created or retained since inception
2,250 Projects
funded since inception
2.8 Million
total clients/ customers served since inception
$593.6 Million
of New Markets Tax Credits allocation deployed since inception
CCDFI Borrowers Served : 1,180,000
Clients/Customers in 2020
88,000
African American clients
237,000
Latino/Hispanic clients
30,000
Native American/ Native Alaskan clients
Charitable Giving with Purpose
Clearinghouse CDFI donated $120,000 to the nonprofit American Conservatory Theater (A.C.T.) Strand Theater. This theater, located on Mission Street in San Francisco, was previously completely renovated through a combination of Clearinghouse CDFI New Markets Tax Credits and Historic Tax Credits.
Clearinghouse CDFI Contributed
$171,982 in Charitable Donations to 30 Recipients:
- Our Partners
- Loan Committee
- Community / NMTC Advisory Board
- Native American Advisory Board
- Arizona Investment Committee
- Arizona Board of Advisors
- Asset Review Committee
- ALCO Committee
- Outreach Committee
- Our People
Our Partners
Gary Dunn – CHAIR
Banking Consultant
Alva Diaz
Wells Fargo Bank
Brian M. Riley
Foothills Bank
Chris Walsh
Partners Bank of California
Claudia Lima
CIT
David Levy
Fair Housing Council of OC
Glen Pacheco
Banking Consultant
Jeff Talpas
BBVA USA
Kelvin James
Bank of Hope
Lisa Dancsok
Arizona Community Foundation
Mark Rebal
Nano Banc
Pat Neal
Neal Estate, Inc.
Rochelle Mills
Innovative Housing Opportunities
Robert McAuslan
Western Alliance Bancorporation
Susan Montoya
Citizens Business Bank
“I am excited to serve on a board that is committed to serving communities and businesses that are often overlooked by traditional financial institutions. The consistent growth and influence of CCDFI over the years is a testament to theirnimpact and sustainability. I look forward to sharing my perspective with and learning from CCDFI.”
Rochelle Mills
Loan Committee
Glen Pacheco – CHAIR
Banking Consultant
Dino Browne
Las Vegas Urban League
Gary Dunn
Banking Consultant
Peter Hill
Goldwater Bank, N.A.
Patricia Dixon
CalPrivate Bank
Terrin Enssle
Clearinghouse CDFI
Waheed Karim
Banner Bank
Wesley Wolf
Wolf & Company, Inc.
“As a board member, I feel I am making an impact on underserved communities as we offer innovative/diverse financial products that support the unmet credit needs of core clients. This is especially true during the COVID-19 pandemic when CCDFI acted as “financial first responder” by introducing new products that met the ever growing and diverse financial needs of its clients.”
Glen Pacheco
Community / NMTC Advisory Board
David Levy – CHAIR
Fair Housing Council of OC
Andrew Michael
Partnerships for Change
Alan Woo
Santa Ana Unidos
Chris Francis
Visioneering Studios
Delores Brown
CEDC, Inc.
Gerald Sherman
Bar K Management Company
Martina Guilfoil
Chattanooga Neighborhood Enterprise
Stanley Tom
Valley Small Business Development Corp.
Tim Johnson
City of Federal Way
“The pursuit of serving self is vain and filled with false hope. Far better is the privilege of serving others; bringing glory to God in the process.”
Chris Francis
Native American Advisory Board
Gerald Sherman – CHAIR
Bar K Management Company
Bob Crothers
Citizen Potawatomi Community Development Corporation
David Murray
Dexafit Tempe
Jackson Brossy
Native CDFI Network
Karlene Hunter
Native American Natural Foods
Shawn Nelson
Father Sky & Mother Earth ART
Stephanie Cote
Oweesta Corporation
“It has been an honor to serve on the Clearinghouse CDFI Native Advisory Board and to watch the impact that Clearinghouse has had and continues to have in Native American Country. Clearinghouse has done wonderful things for Native Americans to help them become self-sufficient. I'm proud to be a small part of this wonderful organization.”
Karlene Hunter
Arizona Investment Committee
Andrew W. Gordon – CHAIR
Clearinghouse CDFI
Cyndi Franke-Hudson
Wells Fargo Bank
Edward Celaya
ASU Diversity Council
Esperanza Martinez
National Bank of Arizona
Kevin Halloran
CIT
Lisa Van Ella
Foothills Bank
Terrin Enssle
Clearinghouse CDFI
Tim R. Bruckner
Western Alliance Bank
“The integrity and dedication of the Clearinghouse CDFI team is evident throughout the organization. It's an honor and a privilege to be part of a group so dedicated to improving the lives of others in our communities.”
Lisa Van Ella
Arizona Board of Advisors
Andrew W. Gordon – CHAIR
Clearinghouse CDFI
Cody Williams
Maricopa County Justice Courts
Craig K. Williams
Snell & Wilmer LLP
David Castillo
Native Community Capital
Douglas Bystry
Clearinghouse CDFI
Elisa de la Vara
Arizona Community Foundation
Jonathan Koppell
ASU Watts College of Public Service and Community Solutions
Ken Burns
Arizona Commerce Authority
Paul T. Hickman
Arizona Bankers Association
Tim R. Bruckner
Western Alliance Bank
“In this very challenging year, the work of Clearinghouse CDFI has become more important than ever. I’m proud to support this organization that is making a difference in
the lives of Arizonans.”
Ken Burns
Asset Review Committee
Glen Pacheco – CHAIR
Banking Consultant
David Sharp
Pacific Western Bank
Elsa Monte
Pacific Western Bank
John Marder
RMA of Orange County
Mark Rebal
Nano Banc
Melinda Costa
Wells Fargo Bank
Wilson Mach
First General Bank
“Clearinghouse CDFI has become a National leader in community finance and I am proud of having had a small role in its evolution. Clearinghouse CDFI has played an important role in the growth of many CRA professional careers, mine included; and in the development of their institution’s successful Community Development programs. Thank you for all the memories and thank you for being a great advocate for community and economic development.”
Elsa Monte
ALCO Committee
Brian M. Riley – CHAIR
Foothills Bank
Craig Kardokus
First Foundation Bank
David Levy
Fair Housing Council of OC
Michael Solomon
Charles Schwab Bank
Salida Pande
State Bank of India
Steve Herman
California Bank & Trust (Zions)
“Never before has the need been so great for organizations like the Clearinghouse CDFI, which provides low income individuals and disadvantaged communities with affordable financing. It’s an honor to be part of the organization and to see firsthand the positive impacts that the Clearinghouse CDFI has on people’s lives.”
Craig Kardokus
Outreach Committee
Susan Montoya – CHAIR
Citizens Business Bank
Arturo Perez
U.S. Bank
Barbara Boone
Western Alliance Bank
Bruce Gumbiner
Cathay Bank
“Year in and year out Clearinghouse CDFI show themselves to be a superior partner in deploying capital for needed community development projects across the country. I’m glad to do what I can to help with their outreach efforts.”
Arturo Pérez
Our People
EXECUTIVE
TEAM
Douglas J. Bystry
President / CEO
Andrew W. Gordon
Arizona Market President
Jay Harrison
Chief Investment Officer
Kathy Bonney
Chief Administrative Officer
Kristy Ollendorff
Chief Credit Officer
Terrin Enssle
Chief Financial Officer
Jay Harrison
Chief Investment Officer
Yves M. Mombeleur
Chief Fund Officer
Alanna Smith
Director of Marketing
Amanda Virrey
Commercial Loan Processing Manager
Benjamin Allen
Impact Data Analyst/System Lead
Brian Sagert
Community Development Officer
Cesar Plascencia
Public Affairs Officer
Chris McMartin
Opportunity Fund Manager
Colin Wegener
Assistant Controller
Debra Kramer
Construction Loan Specialist Manager
Ferduesi Ahmed
CRE Portfolio Loan Analyst
Brenda J. Rodriguez
AHC Executive Director
Helen Tran
HUD Certified Housing Counselor
Gabriella Brusseau
Receptionist / Office Admin.
Guy Krikorian
Controller
Jatin Mehta
Sr. Accountant
Justin Merlette
Assistant Loan Servicing Manager
Kennedy Sandoval
Loan Production Assistant / Jr. BDO
Lacey Dixon
Commerical Loan Funder/Admin. Assistant
Lauren McDonald
Commercial Loan Funder
Lawrence Chavez
New Mexico Market Representative
Lorey Louie
Portfolio Analyst
Janell Abarca
HUD Certified Housing Counselor
Shipra Bhatia
Programs Coordinator
Lundi Chea
NMTC Asset & Compliance Manager
Mai Ha
Impact Manager
Melissa Johnson
Director of Loan Operations
Michelle Taylor
Loan Servicing Manager
Natasa Radosavljevic
Marketing Specialist
Randy Dixon
Sr. Small Business Underwriter
Ricky Ha
NMTC Staff Accountant
Roscelle Shands
Commercial Loan Funding Manager
Sophia Barcelo
Loan Servicing Specialist
Ted Chien
Underwriting Manager of California
Taylor Lajoie
Construction Disbursement Specialist
Clearinghouse CDFI Welcomes
Executive Team Members:
Yves M. Mombeleur
Chief Fund Officer
Mr. Mombeleur heads the CCDFI FVLCRUM Fund partnership. He has a diverse background in community development,
Kathy Bonney
Chief Administrative Officer
Ms. Bonney is responsible for the operation and administration of the corporation. She oversees Human Resources, CSR,
Yves M. Mombeleur
Chief Fund Officer
Mr. Mombeleur heads the CCDFI FVLCRUM Fund partnership. He has a diverse background in community development,
“Yves Mombeleur brings a wealth of experience and talent to Clearinghouse CDFI. He understands our mission, real estate and nonprofit lending, banking and CRA. Yves has embraced the challenge of leading FVLCRUM and our goal to reduce the minority wealth gap in this country. He is a strong addition to our executive team.” Douglas J. Bystry – CCDFI President/CEO
Kathy Bonney
Chief Administrative Officer
Ms. Bonney is responsible for the operation and administration of the corporation. She oversees Human Resources, CSR,
“Kathy Bonney has played an integral role in our growth and success over the past 17 years. With many responsibilities, demonstrating strong initiative and drive, she has certainly earned this corporate promotion. Clearinghouse CDFI is truly fortunate to have Kathy’s unique perspective and strong presence on our executive team.” Douglas J. Bystry – CCDFI President/CEO
“Yves Mombeleur brings a wealth of experience and talent to Clearinghouse CDFI. He understands our mission, real estate and nonprofit lending, banking and CRA. Yves has embraced the challenge of leading FVLCRUM and our goal to reduce the minority wealth gap in this country. He is a strong addition to our executive team.” Douglas J. Bystry – CCDFI President/CEO
“Kathy Bonney has played an integral role in our growth and success over the past 17 years. With many responsibilities, demonstrating strong initiative and drive, she has certainly earned this corporate promotion. Clearinghouse CDFI is truly fortunate to have Kathy’s unique perspective and strong presence on our executive team.” Douglas J. Bystry – CCDFI President/CEO
2020 Financials
Net Income: 2016-2020
Net Interest Income / Other Income
Total Asset Size:
$602.5MM*
Selected Financial Highlights 2016-2020
California
23861 EI Toro Road
Suite 401
Lake Forest, CA 92603
Nevada
2300 W.Sahara Ave
Suite 1100
Las Vegas, NV 89102
