Inclusiv is a Community Development Financial Institution (CDFI) intermediary and the national network of community development credit unions. Based in New York, NY, the organization has been tax-exempt since November 1977 (EIN: 11-2421972). Inclusiv provides financial, technical, and educational services to credit unions serving low-income and economically disenfranchised communities. Through its network of more than 500 community development credit unions, Inclusiv reaches more than 20 million people with limited incomes and/or who live in historically redlined communities.
Key facts about Inclusiv Inc
- EIN
- 11-2421972
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $1,350,970
- Grants made (2024)
- 58
- Average grant
- $23,293
- Median grant
- $12,000
- New grantees (estimate)
- 57% first-time grantees (33 of 58, 2024)
- Total assets
- $1,960,631,669
- Primary geography
- North Carolina (22% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Inclusiv Inc funds
By grant dollars, the top recipient states for Inclusiv Inc's 58 itemized 2024 grants were North Carolina (22%), PR (22%) and California (15%). The most frequent recipient cities were San Juan, PR (18 grants), Chicago, IL (8 grants), New York, NY (3 grants) and Washington, DC (2 grants). None of its 58 grants with a stated purpose were described as general or operating support. Recurring purposes include "Racial Equity Grand Award Refg 2024" (53 grants).
Is Inclusiv Inc open to new grantees?
57%
first-time grantees, 2024
In 2024, 33 of 58 grantees (57%) were first-time recipients. First grants averaged $31K; repeat grants $13K. How we count
Medians: $12K first-time, $12K repeat.
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.0B
+2593.8% YoY
Annual Giving
$1.4M
+72.9% YoY
Grant Count
58
-19.4% YoY
Avg Grant Size
$23K
+114.7% YoY
Mission & Focus Areas
Inclusiv's work centers on promoting financial inclusion in low-income communities across the country. Primary focus areas include:
- Community Development Lending: Supporting credit unions to deepen community development lending through asset-building financing options, including affordable homeownership, small business lending, and credit-building programs in low-income and historically underserved communities
- Racial Equity & Financial Inclusion: Advancing financial inclusion in Black, Hispanic, Native, and AAPI communities through support of Minority Depository Institution (MDI) and CDFI credit unions
- Small Business Capital Access: Increasing access to capital for small businesses in underserved communities
- Climate Resilience: Building climate resilience in front-line communities and addressing the climate crisis through green lending initiatives
- Capacity Building: Providing training, technical support, and consulting services to strengthen community development credit unions
Grantmaking
Inclusiv administers several major funding initiatives:
Ready to take the next step with Inclusiv Inc?
Geographic Focus
Where this funder awards grants
Inclusiv operates nationally with a network spanning across the United States. Recent initiatives specifically target:
- New York State: Business Forward initiative and $5 million investment from Empire State Development
- Nationwide: The broader network of 500+ community development credit unions
- Puerto Rico: Support for financial cooperatives (cooperativas) through the New Majority Growth Initiative
- U.S. Virgin Islands: MDI support through the New Majority Growth Initiative
- 26-27 States: Recent CCIA (Community Capital Investment Act) awards distributed across multiple states and Puerto Rico
Grant Distribution by State
Share of all 58 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,960,631,669 | $72,784,355 | $97,622,121 |
| Revenue | $1,897,878,390 | $11,935,667 | $12,847,743 |
| Expenses | $14,997,310 | $10,119,825 | $8,604,317 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $11,937 | $14,597 | $1,348 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
242 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Latino Community Cu ($300,000), Saverlife ($179,250), Hope Federal Credit Union ($150,000).
| Recipient | Purpose | Amount |
|---|---|---|
| LATINO COMMUNITY CU Durham, NC | EDWARD JONES - SUBGRANT-LATINO COMM, 300K | $300,000 |
| SAVERLIFE San Fransico, CA | CFCA CLIMATE SUBGRANT | $179,250 |
| HOPE FEDERAL CREDIT UNION Jackson, MS | BUILD & SAVE - SUB-GRANT-HOPEFCU | $150,000 |
| ABYSSINIAN BAPTIST CHURCH FCU Nyc, NY | RACIAL EQUITY GRAND AWARD REFG 2024 | $21,500 |
| CREDIT UNION OF ATLANTA Atlanta, GA | RACIAL EQUITY GRAND AWARD REFG 2024 | $21,500 |
| CTAFC FCU Chicago, IL | RACIAL EQUITY GRAND AWARD REFG 2024 | $21,500 |
| GREATER CENTENNIAL FEDERAL CREDIT UNION Mount Vernon, NY | RACIAL EQUITY GRAND AWARD REFG 2024 | $21,500 |
| MESSIAH BAPTIST CHURCH FCU East Orange, NJ | RACIAL EQUITY GRAND AWARD REFG 2024 | $21,500 |
| PARAMOUNT BAPTIST CHURCH FCU Washington, DC | RACIAL EQUITY GRAND AWARD REFG 2024 | $21,500 |
| SHILOH ENGLEWOOD FCU Chicago, IL | RACIAL EQUITY GRAND AWARD REFG 2024 | $21,500 |
Leadership & Key People
Leadership team and compensation from IRS filings
Cathie Mahon — President/CEO, Inclusiv
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Ian Forster | General Counsel | 40 | $133,375 |
| Ming Kyung Cathi Kim | SVP, Capital, Investments, & Impact | 40 | $166,084 |
| Robin Roman | Chairman | 1 | — |
| Blanche L Jackson | Vice Chairman | 1 | — |
| Nereida Seda Vargas | Treasurer | 1 | — |
| Ed Sivak | Recording Secretary | 1 | — |
| James Hunter | Corresponding Secretary | 1 | — |
| Aurelio Arroyo Conzalez | Director | 1 | — |
| Diane Sandoval-Griego | Director | 1 | — |
| Hank Hubbard | Director | 1 | — |
| Jacqueline Moore | Director | 1 | — |
| Jama R Haynes | Director | 1 | — |
| Jeff Ivey | Director | 1 | — |
| Kathy Chartier | Director | 1 | — |
| Suzette Cowell | Director | 1 | — |
| Micheal Franqui Baquero | Director | 1 | — |
| Margie Salazar | Director | 1 | — |
| Cathleen Mahon | President/CEO | 40 | $366,104 |
| Eben Sheaffer Thru 092025 | CFO/CIO | 40 | $271,182 |
| Pamela Owens | Vice President | 40 | $208,749 |
| Silvia Rincon | COO | 40 | $192,154 |
| Pablo Defilippi | SVP Network Development | 40 | $244,891 |
| Neda Arabshahi | EVP Resiliency & Clean Energy | 40 | $186,066 |
| Alexis Iwanisziw | SVP Policy & Communications | 40 | $174,719 |
Recent News & Activity
Recent developments and announcements
**2025**
Awarded $5 million from New York State's Empire State Development to expand access to small business lending through CDFI credit unions statewide
Inclusiv Awarded $5 Million to Increase Access to Capital for Small BusinessesLaunched Business Forward initiative (July 2025) to connect New York State entrepreneurs with affordable small business loans through CDFI credit unions, with applications now open
Inclusiv Awarded $5 Million to Increase Access to Capital for Small BusinessesSelected for a $1.87 billion grant through EPA's Greenhouse Gas Reduction Fund
Inclusiv Selected for a $1.87 Billion Grant through EPA\u2019s Greenhouse\**2024**
Announced expansion of initiatives with Visa Foundation's $1 million investment over three years to support CDFI Impact and the New Majority Growth Initiative
Launched the Inclusiv Impact Deposits Fund with $84 million in initial commitments from Kataly Foundation and Bank of America to raise $100 million total for social impact deposits in community development credit unions
Inclusiv Awarded $5 Million to Increase Access to Capital for Small Businesses**2023**
Closed the $20 million Racial Equity Investment Fund with JPMorgan Chase's $4 million loan contribution
Inclusiv Awarded $5 Million to Increase Access to Capital for Small BusinessesAnnounced participation in the Justice Climate Fund coalition applying for EPA grants to address climate crisis and support renewable energy, clean transportation, and energy-smart buildings in disadvantaged communities
Announced the New Majority Growth Initiative with lead grant from Citi Foundation's Community Finance Innovation Fund, supported by JPMorgan Chase and NerdWallet
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Inclusiv Inc fund?
Inclusiv's work centers on promoting financial inclusion in low-income communities across the country. Primary focus areas include: • **Community Development Lending**: Supporting credit unions to deepen community development lending through asset-building financing options, including affordable homeownership, small business lending, and credit-building programs in low-income and historically underserved communities • **Racial Equity & Financial Inclusion**: Advancing financial inclusion in Bla…
How do I apply for a grant from Inclusiv Inc?
Inclusiv administers several major funding initiatives: A $20 million fund making subordinated debt investments in high-impact MDI and CDFI credit unions. The fund supports growth and financial inclusion efforts, with investments expected to result in more than $40 million in safe and affordable loans to homeowners, small business owners, and households in underserved communities. Launched in 2023, this initiative provides targeted investment, technical support, and training to expand MDI credi…
Where does Inclusiv Inc make grants?
Inclusiv operates nationally with a network spanning across the United States. Recent initiatives specifically target: • **New York State**: Business Forward initiative and $5 million investment from Empire State Development • **Nationwide**: The broader network of 500+ community development credit unions • **Puerto Rico**: Support for financial cooperatives (cooperativas) through the New Majority Growth Initiative • **U.S. Virgin Islands**: MDI support through the New Majority Growth Initiative
What size grants does Inclusiv Inc award?
In 2024, Inclusiv Inc awarded 58 grants totaling $1.4M — an average of about $23K per grant, based on its IRS Form 990 filings.
What is Inclusiv Inc's EIN?
Inclusiv Inc's EIN (Employer Identification Number) is 11-2421972. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.