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City First Enterprises Inc

Public charity · Grantmaker Washington, DC EIN: 52-2101165 Website

City First Enterprises Inc is a Washington, DC-based public charity and Community Development Financial Institution (CDFI). It provides flexible capital and related support for community development, including affordable housing, small businesses, nonprofits, commercial real estate, and clean energy.

Key facts about City First Enterprises Inc

In short: City First Enterprises Inc gave $769K across 2 grants in 2025 (avg $384K), mostly in District of Columbia. Source: 2025 IRS Form 990.

EIN
52-2101165
Latest 990 filing
Form 990, 2025
Annual giving (2025)
$768,750
Grants made (2025)
2
Average grant
$384,375
Median grant
$384,375
Total assets
$86,322,884
Primary geography
District of Columbia (100% of itemized 2025 grant dollars)

Data from IRS Form 990, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990 · View filing

Total Assets

$86.3M

+16.3% YoY

Annual Giving

$769K

-85.4% YoY

Grant Count

2

-81.8% YoY

Avg Grant Size

$384K

-19.8% YoY

How City First Enterprises Inc gives

  • Giving fell 98% from 2022 to 2025. Method

From the foundation's IRS Form 990 filings. Methodology.

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

Mission & Focus Areas

CFE’s mission is to create financial solutions that support people and communities in achieving their economic aspirations. It says its vision is for all people and communities to transform their futures through access to capital.

CFE describes its lending as supporting affordable housing, commercial real estate, small businesses, nonprofits, clean energy, and homeownership. Its filing describes a portfolio of subordinated loans to nonprofits, small businesses, green-energy organizations, and affordable-housing organizations in the greater Washington metropolitan community, alongside technical assistance and credit counseling for borrowers. CFE also says it works with government partners to administer grant programs for small businesses, housing providers, and residents.

Grantmaking

The 2022 filing reports $40,891,259 in grants across 526 grants. The filings report no grants in 2023 or 2024. No typical grant size or named recipients with award amounts are specified in the available information. Its 2025 filing, the latest on this page, reports 2 grants totaling $768,750.

CFE separately reports managing $113 million in grants from 2020 through 2025. This is funding it administered, not a measure of grants reported as its own giving. Its currently active Commercial Property Acquisition Fund is a DC government program administered by CFE. It provides down-payment assistance for commercial property purchases in Washington, DC: up to $500,000 or 25% of the sale price, whichever is less. Eligible businesses must be at least 51% owned by people who are economically disadvantaged or have been subjected to racial, ethnic, or cultural bias.

Open Grants

2 open opportunities from City First Enterprises Inc

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Geographic Focus

Where this funder awards grants

CFE describes lending in the DC and Baltimore metropolitan areas and says borrowers are based across DC, Maryland, and Virginia. Its filing identifies the greater Washington metropolitan community as the area for its loan portfolio. The Commercial Property Acquisition Fund is limited to Washington, DC.

Grant Distribution by State

7states

Share of 2025 grant dollars across all 2 itemized grants.

Cities

WashingtonBethesdaBaltimoreGreenbeltSilver SpringArlingtonBowieMcLeanRockvilleAlexandriaAnnapolisFairfaxHerndonOlneyPotomacSan DiegoViennaAnnandaleAustinBellaire

Giving Over Time

Total grant dollars and number of grants per year

$0$20M$40M$60MTotal only2020 430 grants2021 526 grants2022 343 grants2023 11 grants2024 2 grants2025

From 2020 to 2025, annual grant giving ranged from $769K (2025) to $40.9M (2022). In 2025 it made 2 grants totaling $769K.

Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2025

1847 Property LLC: $500K1847 Property LLC$500KSmart Choices LLC: $269KSmart Choices LLC$269K

The largest 2025 recipient was 1847 Property LLC ($500K). Together the top 2 received $769K.

Grant Size Distribution

1,312 grants across all recorded years

567<$50K587$50–100K124$100–250K22$250–500K12$500K–1M$1–5M$5M+

The most common grant size was in the $50–100K range: 587 grants of 1,312 (45%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
1847 Property LLC Washington, DCSupport for Equity Impact Enterprises$500,000
Smart Choices LLC Washington, DCSupport for Equity Impact Enterprises$268,750

Financial History

Multi-year comparison from IRS filings

Filing year Assets Revenue Expenses Grants
2024 $74,225,691 $15,260,987 $12,090,417 0
2023 $68,106,525 $21,464,449 $20,222,093 0
2022 $60,726,218 $55,549,555 $50,790,211 $40,891,259 across 526 grants
Revenue
Expenses
Net Investment Income
$0$20M$40M$60M$80M2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$86,322,884$74,225,691$68,106,525
Revenue$9,698,626$15,260,987$21,464,449
Expenses$8,979,733$12,090,417$20,222,093
Net Investment Income$4,519,400$3,255,551$2,307,418

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990 for fiscal year 2021 (received by the IRS January 13, 2023)
  2. Updated Form 990 for fiscal year 2022 (received by the IRS July 26, 2023)
  3. Updated Form 990 for fiscal year 2023 (received by the IRS June 5, 2024)
  4. Updated Form 990 for fiscal year 2024 (received by the IRS May 29, 2025)
  5. Added Form 990 for fiscal year 2025 (received by the IRS June 26, 2026)
  6. Updated Form 990 for fiscal year 2020 (received by the IRS November 2, 2021)
  7. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Leadership team and compensation from IRS filings

The 2024 filing lists Brian Argrett as chairman of the board, David McGrady as vice-chairman, Shannon Scott as treasurer, and Mary Ann Donovan as secretary. It also lists Dr. William Longbrake, Chuck Muckenfuss, Priya Jayachandran, Lori Chatman, Amber Kucher Bell, and Estrella Lucero as directors.

City First Enterprises Inc is led by Oswaldo Acosta, President & CEO since 2025 (on filings since 2020); 5 of 15 officers listed in 2025 are compensated.

Officers on the 2025 filing

  • Oswaldo Acosta

    President & CEO

    President & CEO → President & Chief Executive Officer, 2023

    President & Chief Executive Officer → President & CEO, 2025

    On filings since 2020

    36 hrs/week

    $172K (2020) → $419K (2025)

  • Brian Argrett

    Chair of the Board

    Chairman → Chairman of the Board, 2023

    Chairman of the Board → Chair of the Board, 2025

    On filings since 2020

    1 hr/week

    No compensation reported

  • Arisa Koyama

    Director of Impact

    New on the 2025 filing

    40 hrs/week

    $153K (2025)

  • David McGrady

    Director

    Vice Chairman → Vice Chairman of the Board, 2023

    Vice Chairman of the Board → Director, 2025

    On filings since 2020

    1 hr/week

    No compensation reported

  • William Longbrake

    Director

    Treasurer → Director, 2024

    On filings since 2020

    1 hr/week

    No compensation reported

  • Lori Chatman

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Priya Jayachandran

    Director

    On filings since 2021

    1 hr/week

    No compensation reported

  • Amber Kucher Bell

    Director

    On filings since 2024

    1 hr/week

    No compensation reported

  • Estrella Lucero

    Director

    On filings since 2024

    1 hr/week

    No compensation reported

  • Munevver Yolas

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Rodrigo Cordon

    Chief Operating Officer

    Portfolio Operations Director → Chief Operating Officer, 2023

    On filings since 2020

    40 hrs/week

    $107K (2020) → $234K (2025)

  • Jonathan Reyes

    Chief Lending Officer

    Loan Officer → Chief Lending Officer, 2023

    On filings since 2021

    40 hrs/week

    $115K (2021) → $213K (2025)

  • Stephanie Meyer

    Chief Credit Officer

    On filings since 2021

    40 hrs/week

    $101K (2021) → $159K (2025)

  • Shannon Scott

    Vice Chair of the Board & Treasurer

    Director → Treasurer, 2024

    Treasurer → Vice Chair of the Board & Treasurer, 2025

    On filings since 2023

    1 hr/week

    No compensation reported

  • Mary Ann Donovan

    Secretary

    On filings since 2024

    1 hr/week

    No compensation reported

Former officers (9)
  • Former: Chuck Muckenfuss (2020–2024) — Director
  • Former: Shannon Nys (2024) — Former Director of Finance & Accounting
  • Former: Annie Donovan (2021–2023) — Director
  • Former: Shanna McClearn (2022–2023) — Senior Director, Partnerships & Strategic Initiativ
  • Former: Amber Kuchar-Bell (2023) — Director
  • Former: Sharon Feuer Gruber (2021–2022) — Director Partnership & Development
  • Former: Lisa Green Hall (2020–2021) — Director
  • Former: Hassan Minor (2020) — Director
  • Former: Peggy Hamilton (2020) — Director

Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Compensation Overview

From 2025 IRS filing

Oswaldo Acosta — President and CEO: $419KOswaldo AcostaPresident and CEO$419KRodrigo Cordon — Chief Operating Officer: $234KRodrigo CordonChief Operating Officer$234KJonathan Reyes — Chief Lending Officer: $213KJonathan ReyesChief Lending Officer$213KStephanie Meyer — Chief Credit Officer: $159KStephanie MeyerChief Credit Officer$159KArisa Koyama — Director of Impact: $153KArisa KoyamaDirector of Impact$153K

The highest reported compensation on the 2025 filing was $419K, to Oswaldo Acosta (President and CEO). 5 officers or directors reported compensation on that filing.

Contact

Mailing address: 1701 Rhode Island Ave Nw 3-103, Washington, DC 20036
Phone: (202) 745-4490
Website: https://cfenterprises.org

Frequently asked questions about City First Enterprises Inc

How much does City First Enterprises Inc give each year?

City First Enterprises Inc gave $769K across 2 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $5.3M across 11 grants.

How large is City First Enterprises Inc?

City First Enterprises Inc reported $86.3M in total assets on its 2025 IRS Form 990. Its revenue that year was $9.7M.

What does City First Enterprises Inc fund?

CFE’s mission is to create financial solutions that support people and communities in achieving their economic aspirations. It says its vision is for all people and communities to transform their futures through access to capital. See mission & focus areas ↑

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

City First Enterprises Inc has no public application process in the sources Grantable reviewed. Check cfenterprises.org for current guidelines, or contact the foundation directly before submitting a request.

Where does City First Enterprises Inc make grants?

CFE describes lending in the DC and Baltimore metropolitan areas and says borrowers are based across DC, Maryland, and Virginia. Its filing identifies the greater Washington metropolitan community as the area for its loan portfolio. The Commercial Property Acquisition Fund is limited to Washington, DC.

What is City First Enterprises Inc's EIN?

City First Enterprises Inc's EIN (Employer Identification Number) is 52-2101165. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.

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