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
Mission & Focus Areas
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 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
Cities
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.
| 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
Giving History
Grant recipients and amounts by year
No grants recorded for .
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 BankThe 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
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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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