COMMUNITY REINVESTMENT FUND INC

MINNEAPOLIS, MN | Hennepin County
Economic Development

Overview

COMMUNITY REINVESTMENT FUND INC
41-1616861
801 NICOLLET MALL STE 1700W
MINNEAPOLIS, MN 55402
Hennepin County
(612) 338-3050

Mission Statement info

TO EMPOWER PEOPLE TO IMPROVE THEIR LIVES AND STRENGTHEN THEIR COMMUNITIES THROUGH INNOVATIVE FINANCIAL SOLUTIONS.

Founded info
1988
Total Employees info
81
Total Volunteers info
13
CRA Category info
  • Economic Development
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
  • NMTC Recipient
Nonprofit Classification (NTEE Code) info
S31

S - Community Improvement, Capacity Building

Urban & Community Economic Development

Organizations that provide technical assistance, loans, loan guarantees or other forms of management support to help impoverished urban communities create local jobs, sustain local services and build healthier local economies.

IRS Activity Codes info
400
Area development, redevelopment of renewal
402
Other activity aimed at combating community deterioration
405
Loans or grants for minority businesses
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
CRA Certification info
Has not applied.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
9/17/2013
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
Most Recent CDFI Award info
2018
$700,000
CDFI Financial Assistance
2017
$686,500
CDFI Financial Assistance
2016
$1,400,000
CDFI Financial Assistance
New Market Tax Credit Recipient info
Most Recent NMTC Award info
2008

$6,250,000
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$23.4M
Revenue
$23.4M
Assets
$121.3M
Exempt Ruling Date info
1989-03
Deductibility Status info
Deductible
Tax Filing Year info
2018
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
WV
Basis for Foundation/Public Charity Status info
Organizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above 509(a)(3)
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Nonprofit Location

Physical Address info
801 NICOLLET MALL STE 1700W
MINNEAPOLIS, MN 55402
Hennepin County
FIPS Geocoded Address info
33460
MSA/CBSA info
27
State info
053
County info
1044.00
Tract info
Middle
Income Level info
Core-Based Statistical Area info
Minneapolis-St. Paul-Bloomington, MN-WI
Combined Statistical Area info
Minneapolis-St. Paul, MN-WI
Metropolitan Division info
Not located in an MD.
Area Type info
Metropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 39.77%
Designated Distressed Census Tract info
Underserved Census Tract info

Market Data

Census Tract County
1044.00 Hennepin County
Population
Total Population 2,223 1,245,837
Total Households 1,145 508,030
Income
Median Family Income (Census*) $71,328 $78,167
Median Family Income (2019 FFIEC) $93,000 N/A
Tract Income Percentage 84.32% N/A
Below Poverty Level 32.0% 10.4%
Unemployment Level 14.7% 3.8%
Housing
Total Housing Units 1,389 533,880
Total Owner-Occupied Units 12.7% 62.4%
Total Renter-Occupied Units 69.8% 37.6%
Total Vacant Units 17.6% 4.5%
* Census tract income based on 2019 Census estimated data; County income based on 2019 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

14
Total Voting Members
in Governing Body
info
13
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Jennifer Anderson
President & CFO
(612) 338-3050
Principal Officer info
Frank Altman
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.