City First Enterprises Inc

WASHINGTON, DC EIN: 52-2101165 Website

City First Enterprises Inc is a Washington, DC-based community development financial institution (CDFI) established in July 1998. The organization is designated as a 501(c)(3) nonprofit and classified as a Human Service Organization under the NTEE code S30 (Economic Development).

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$74.2M

+9.0% YoY

Revenue

$15.3M

-28.9% YoY

Net Investment Income

$3.3M

+41.1% YoY

Expenses

$12.1M

-40.2% YoY

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

Affordable housing development and homeownership
Commercial real estate financing
Small business lending
Nonprofit organization support
Clean energy projects
Community facilities

The organization manages a portfolio of subordinated loans to nonprofits, small businesses, green energy organizations, and affordable housing entities within the greater Washington metropolitan community. Beyond lending, City First Enterprises provides technical assistance and credit counseling to borrowers.

Grantmaking

City First Enterprises distributed $8,631,152 in total giving according to its most recent tax filing. Grant amounts typically range from $6,868 to $750,000.

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Geographic Focus

Where this funder awards grants

City First Enterprises primarily serves the greater Washington metropolitan area and surrounding region.

Grant Distribution by State

District of Columbia $4.8M (93%)

Maryland $262K (5%)

Virginia $100K (2%)

States

District of Columbia Maryland Pennsylvania Texas Virginia

Cities

AlexandriaAnnandaleAnnapolisArlingtonAustinBellaireBethesdaBowieChantillyChevy ChaseFairfaxFalls ChurchGreat FallsGreenbeltHerndonHyattsvilleKensingtonMiddleburgN BethesdaOlney

Financial History

Multi-year comparison from IRS filings

As of December 2023/2024:

Total Assets: $74,225,691
Total Revenue: $21.5 million (2023)
Total Expenses: $20.2 million (2023) / $12,090,417 (2024)
Total Liabilities: $41 million (2023)
Investments: $24,100
Staff: 24-26 employees

The organization has experienced exceptional growth over the past eight years.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$74,225,691	$68,106,525	$60,726,218
Revenue	$15,260,987	$21,464,449	$55,549,555
Expenses	$12,090,417	$20,222,093	$50,790,211
Qualifying Distributions	—	—	—
Net Investment Income	$3,255,551	$2,307,418	$1,410,639
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 0 recipients in 2024

Grant Size Distribution

100 grants across all recorded years

Open Grants

1 open opportunity from City First Enterprises Inc

Foundation

Commercial Property Acquisition Fund

CITY FIRST ENTERPRISES INC

Amount

Up to $500,000 or 25% of sale price, whichever is less

Deadline

Rolling / Open

Rolling (Quarterly)

Giving History

Grant recipients and amounts by year

No grants recorded for 2024.

Leadership & Key People

Leadership team and compensation from IRS filings

Oswaldo Acosta serves as President and Chief Executive Officer with compensation of $362,606.

Rodrigo Cordon serves as Chief Operating Officer with compensation of $191,461.

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
DR WILLIAM LONGBRAKE	DIRECTOR	1	—
CHUCK MUCKENFUSS	DIRECTOR	1	—
PRIYA JAYACHANDRAN	DIRECTOR	1	—
LORI CHATMAN	DIRECTOR	1	—
AMBER KUCHER BELL	DIRECTOR	1	—
ESTRELLA LUCERO	DIRECTOR	1	—
BRIAN ARGRETT	CHAIRMAN OF THE BOARD	1	—
DAVID MCGRADY	VICE-CHAIRMAN OF THE BOARD	1	—
SHANNON SCOTT	TREASURER	1	—
MARY ANN DONOVAN	SECRETARY	1	—
OSWALDO ACOSTA	PRESIDENT AND CHIEF EXECUTIVE OFFICER	40	$362,606
RODRIGO CORDON	CHIEF OPERATING OFFICER	40	$191,461
JONATHAN REYES	CHIEF LENDING OFFICER	40	$168,370
STEPHANIE MEYER	CHIEF CREDIT OFFICER	40	$148,242
SHANNON NYS	FORMER DIRECTOR OF FINANCE & ACCOUNTING	40	$157,447

Recent News & Activity

Recent developments and announcements

City First Bank (affiliated with City First Enterprises) was awarded a $75 million New Markets Tax Credit allocation by the CDFI Fund, reflecting the organization's expanded capacity to support community development initiatives.

City First Bank

The organization received a Four-Star rating from Charity Navigator with a score of 93%, indicating strong accountability, financial health, governance, and transparency practices.

Subject Areas

Focus areas based on grantmaking activity

Human Services

Frequently Asked Questions

What does City First Enterprises Inc fund?

City First Enterprises is dedicated to promoting equity and opportunity by increasing access to responsible capital and financial services for underserved communities. The organization's work encompasses: • Affordable housing development and homeownership • Commercial real estate financing • Small business lending • Nonprofit organization support • Clean energy projects • Community facilities The organization manages a portfolio of subordinated loans to nonprofits, small businesses, green energ…

How do I apply for a grant from City First Enterprises Inc?

City First Enterprises distributed $8,631,152 in total giving according to its most recent tax filing. Grant amounts typically range from $6,868 to $750,000. Recent documented funding includes a grant from the National Cooperative Bank for $233,771 to support and promote affordable and workforce housing across the Detroit region.