Cinnaire Corporation is a nonprofit Community Development Financial Institution (CDFI) headquartered in Lansing, Michigan. Founded in 1993 and tax-exempt since April 1994, Cinnaire operates as a mission-driven financial services organization that provides lending and investment solutions to support affordable housing development and community revitalization. The organization employs approximately 128-145 people and operates as a cooperative owner in CPC Mortgage Company, a national mortgage lending company specializing in Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) financing products.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$72.2M
-1.7% YoY
Annual Giving
$177K
+27.1% YoY
Grant Count
19
+5.6% YoY
Avg Grant Size
$9K
+20.4% YoY
Mission & Focus Areas
Cinnaire's mission is to invest in people and places to transform lives through capital investments and development solutions. The organization focuses on:
- Delivery of quality, affordable housing to low-income and underprivileged populations
- Promotion of self-sufficiency and upward mobility for very-low and low-income households
- Preservation of social welfare through construction and development of housing for very low-, low-, and moderate-income households
- Elimination of prejudice and discrimination in housing
- Reduction of neighborhood tensions and combat of community deterioration
- Support for education, healthcare, and community facilities
- Economic development initiatives
Primary funding areas include affordable housing, education, healthcare, community facilities, and economic development, with a focus on creating out-of-the-box lending products and development solutions.
Grantmaking
Cinnaire provides flexible loans and equity capital rather than traditional grants. The organization's lending products include:
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Geographic Focus
Where this funder awards grants
Cinnaire operates primarily in the Midwest and Mid-Atlantic regions, with specific focus on:
- Michigan
- Indiana
- Delaware
- Wisconsin
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2023-2024):
- Total Assets: $73.4 million (2023); $72.2 million (2024)
- Total Revenue: $25.7 million (2023); $27.7 million (annual income, 2024)
- Total Expenses: $24.6 million (2023)
- Total Liabilities: $9.78 million (2023)
- Annual Revenue: $14.2 million
Total Funding Received:
- Total Funding: $22.5 million
- Debt Financing (2023): $10.0 million (led by KeyBank)
- Grant (2024): $7.5 million (led by Community Development Financial Institutions Fund)
- Grant (2023): $5.0 million (led by Community Development Financial Institutions Fund)
Asset Growth: Total assets have grown from $29.3 million in 2011 to $72.2 million in 2024.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $72,188,344 | $73,402,742 | $75,554,015 |
| Revenue | $24,964,966 | $25,727,245 | $49,832,830 |
| Expenses | $24,124,052 | $24,588,084 | $22,642,903 |
| Qualifying Distributions | $4,274,781 | $9,211,619 | $568,306 |
| Net Investment Income | $387,947 | $1,072,185 | $15,745,190 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
126 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Key leadership identified in organizational records:
- Mark McDaniel - Chief Executive Officer
- Kevin Crawley - Chief Operating Officer
- James Peffley - Chief Strategy Officer
- James Logue - Executive Vice President
- Jennifer Everhart - Executive position
- Brett Oumedian - Chief Financial Officer
The organization is governed by 24 officers and trustees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARK MCDANIEL | CHIEF EXECUTIVE OFFICER | 40 | $950,737 |
| KEVIN CRAWLEY | CHIEF OPERATING OFFICER | 40 | $606,427 |
| DEBORAH TOBY | CHIEF HUMAN RESOURCE OFFICER | 40 | $578,140 |
| BRETT OUMEDIAN | CHIEF FINANCIAL OFFICER | 40 | $591,212 |
| LUCIUS VASSAR | CHIEF LEGAL OFFICER | 40 | $469,171 |
| SUSAN FRANK | EXECUTIVE VICE PRESIDENT | 40 | $378,854 |
| JENNIFER EVERHART | EXECUTIVE VICE PRESIDENT | 40 | $435,326 |
| RYAN ROBINSON | EXECUTIVE VICE PRESIDENT | 40 | $406,991 |
| KATHERINE FORTH | EXECUTIVE VICE PRESIDENT | 40 | $350,104 |
| DONSIA STRONG HILL | EXECUTIVE VICE PRESIDENT | 40 | $280,965 |
| CHRISTOPHER LAURENT | EXECUTIVE VICE PRESIDENT | 40 | $299,936 |
| SARAH GREENBERG | EXECUTIVE VICE PRESIDENT | 40 | $322,861 |
| WENDELL JOHNS | DIRECTOR | 1 | — |
| MICHAEL J TAYLOR | DIRECTOR | 1 | — |
| CHRISTINE R HOBBS | DIRECTOR | 1 | — |
| QUINETTA ROBERSON CONNALLY | DIRECTOR | 1 | — |
| AMANDULA ANDERSON | DIRECTOR | 1 | — |
| PAUL J WEAVER | DIRECTOR | 1 | — |
| FRED GREENE | DIRECTOR | 1 | — |
| DONALD F TUCKER | DIRECTOR | 1 | — |
| DERRICK COLLINS | DIRECTOR | 1 | — |
| SARIDA SCOTT | DIRECTOR | 1 | — |
| BRETT MACLEOD | DIRECTOR | 1 | — |
| TAMARA DUDUKOVICH | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
**New Markets Tax Credit (NMTC) Awards (2024-2025):** Cinnaire was awarded $85 million in NMTC allocations in a record-breaking 2024-2025 round.
Cinnaire Awarded $85M in NMTC in Record-Breaking 2024\u20132025 Round -\**Capital Magnet Fund Grant (2024):** The CDFI Fund awarded Cinnaire $7.5 million in Capital Magnet Fund grant funding.
Cinnaire Awarded $85M in NMTC in Record-Breaking 2024\u20132025 Round -\**Equity Fund Closing:** Cinnaire closed $151 million in committed capital for an equity fund.
CDFI Fund Awards Cinnaire $7.5M in Capital Magnet Fund Grant**Federal Home Loan Bank Membership:** Cinnaire is a member of the Federal Home Loan Bank of Chicago, enabling partnerships with mission-driven investors and organizations to create specialized lending products.
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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