Raza Development Fund Inc
Raza Development Fund (RDF) is the largest national, Latino-focused nonprofit Community Development Financial Institution (CDFI) licensed by the U.S. Department of the Treasury. Based in Phoenix, Arizona, RDF is ranked among the top 5% of all CDFIs nationwide on annual production and capitalization. The organization operates as a 501(c)(3) public charity and is a subordinate organization under UnidosUS.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$363.1M
+8.3% YoY
Annual Giving
$1.2M
+105.1% YoY
Grant Count
14
+250.0% YoY
Avg Grant Size
$86K
-41.4% YoY
Mission & Focus Areas
RDF's mission is to unlock lasting prosperity in communities across America by unleashing the power, potential, and promise of Latino and other under-resourced communities. The organization accomplishes this by providing accessible financial solutions, transformative support, and fostering deeply collaborative partnerships while tackling challenges overlooked by traditional financial institutions.
Primary funding and lending focus areas include:
- Education (charter school facilities financing)
- Healthcare
- Affordable housing and homeownership
- Small business and entrepreneurship
- Community resilience and climate resilience
Grantmaking
While RDF is primarily known as a lender, the organization operates a modest grant program that supports organizations aligned with its CDFI mission.
Grant Range
$10,000 - $500,000
How to Apply
**
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Geographic Focus
Where this funder awards grants
RDF operates nationally across 38 states, with primary geographic focus in California, Texas, and Illinois.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2024):
- Total assets: $363,067,878
- Total revenues: $25,660,512
- Total expenses: $23,615,314
- Assets under management: $625 million
- Total invested since inception: Over $1.6 billion
Lending Activity:
- Over $1 billion deployed since 1999
- 36 loans approved (recent period)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $363,067,878 | $335,227,129 | $296,838,353 |
| Revenue | $25,660,512 | $26,318,340 | $48,137,884 |
| Expenses | $23,615,314 | $20,725,703 | $24,595,544 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $3,192,211 | $2,172,984 | $279,354 |
| 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
114 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Madhouse Development ($500,000), Juntos Community ($200,000), Valcom Ventures ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| VALCOM VENTURES SANTE FE SPRINGS, CA | COMMUNITY DEVELOPMENT | $100,000 |
| DREAM ON SAN ANTONIO, TX | COMMUNITY DEVELOPMENT | $100,000 |
| JUNTOS COMMUNITY PHOENIX, AZ | COMMUNITY DEVELOPMENT | $200,000 |
| MADHOUSE DEVELOPMENT AUSTIN, TX | COMMUNITY DEVELOPMENT | $500,000 |
| ESPERANZA HEALTH CENTER CHICAGO, IL | COMMUNITY DEVELOPMENT | $25,000 |
| LA CLINICA DE LA RAZA OAKLAND, CA | COMMUNITY DEVELOPMENT | $25,000 |
| CONGRESO DE LATINOS UNIDOS PHILADELPHIA, PA | COMMUNITY DEVELOPMENT | $25,000 |
| MARY'S CENTER WASHINGTON, DC | COMMUNITY DEVELOPMENT | $25,000 |
| TIBURCIO VASQUEZ HC UNION CITY, CA | COMMUNITY DEVELOPMENT | $25,000 |
| VALLE DEL SOL INC PHOENIX, AZ | COMMUNITY DEVELOPMENT | $25,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
David Rosales is identified as a key associated person with the organization.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARY ANN DONOVAN | PRESIDENT & CEO | 40 | $526,911 |
| DANIEL ORTEGA | BOARD CHAIR | 1 | — |
| BRENDA LOYA | VICE CHAIR | 1 | — |
| KENNETH I TRUJILLO | SECRETARY (BEG 5/17/24) | 1 | — |
| JOSEPH F REILLY | SECRETARY (THRU 5/16/24) | 1 | — |
| AARON DOMINGUEZ | BOARD MEMBER | 1 | — |
| DONNA GAMBRELL | BOARD MEMBER | 1 | — |
| LUIS GRANADOS | BOARD MEMBER | 1 | — |
| MARIA S SALINAS | BOARD MEMBER | 1 | — |
| J REYMUNDO OCANAS | BOARD MEMBER | 1 | — |
| JANET MURGUIA | BOARD MEMBER | 1 | — |
| ANTONIO LOPEZ | CHIEF FINANCIAL OFFICER | 40 | $227,229 |
| MELISSA MCDONALD | CHIEF PEOPLE & OPERATIONS OFFICER | 40 | $327,428 |
| DAVID CLOWER | EVP STRATEGIC INVEST (THRU 2/15/24) | 40 | $318,489 |
| SCOTT RICHTER | CHIEF CREDIT OFFICER | 40 | $213,974 |
| ADRIAN RUIZ | CHIEF INVESTMENT OFFICER | 40 | $227,493 |
| ERIK HARTMAN | CHIEF IT OFFICER (BEG 5/13/24) | 40 | — |
| JUAN MADRID | DEPUTY CFO & CONTROLLER | 40 | $210,291 |
| PEDRO CHAVES | DEPUTY CHIEF CREDIT OFFICER | 40 | $164,998 |
| AMANDA SANCHEZ | VP OF EDUCATION | 40 | $182,957 |
| CATHERINE KES | SR DIRECTOR OF SPECIALTY FINANCE | 40 | $150,413 |
| SIMA THAKKAR | SVP COMMUNITY INNOVATIONS | 40 | $150,021 |
| RODRIGO VELA | FORMER CFO (THRU 6/30/23) | 40 | $381,866 |
Recent News & Activity
Recent developments and announcements
**January 2025:** LEEP Dual Language Academy Charter School borrowed $9.3 million from Raza Development Fund for a facility at 5313 5th Avenue, Sunset Park, Brooklyn.
Credit Enhancement for Charter School Facilities Program**2023:** RDF launched the J. Tommy Espinoza Fellowship as a component of the Wells Fargo Foundation Growing Diverse Housing Developers Program.
Raza Development Fund Launches J. Tommy Espinoza Fellowship, a Component\**Recent Initiative:** LISC and Raza Development Fund pledged $30 million to spur transit-oriented development in low-income communities.
LISC, Raza Development Fund pledge $30 million to spur transit-oriented development**FHLBank Partnership:** RDF received grants from FHLBank San Francisco to develop affordable housing in Arizona.
FHLBank San Francisco Awards $6.7 Million in Grants to Develop ...Contact Information
Website: www.rdf.fund
Phone: (602) 417-1400
Email: info@razafund.org
Address: 410 E. Southern Ave, Phoenix, AZ 85040
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Raza Development Fund Inc fund?
RDF's mission is to unlock lasting prosperity in communities across America by unleashing the power, potential, and promise of Latino and other under-resourced communities. The organization accomplishes this by providing accessible financial solutions, transformative support, and fostering deeply collaborative partnerships while tackling challenges overlooked by traditional financial institutions. Primary funding and lending focus areas include: • Education (charter school facilities financing)…
How do I apply for a grant from Raza Development Fund Inc?
While RDF is primarily known as a lender, the organization operates a modest grant program that supports organizations aligned with its CDFI mission. **Grant Activity:** • Annual giving: $1.2 million (2024) • Number of grants: 14 grants in 2024 (down from 26 grants in 2022 totaling approximately $3.7 million) • Grant range: $10,000 - $500,000 • Median grant amount: $25,000 **Recent Grant Recipients (2024):** • Casa Familiar: $100,000 (Community Development) • Esperanza Health Centers: $25,000 (…
Where does Raza Development Fund Inc make grants?
RDF operates nationally across 38 states, with primary geographic focus in California, Texas, and Illinois.
What size grants does Raza Development Fund Inc award?
In 2024, Raza Development Fund Inc awarded 14 grants totaling $1.2M — an average of about $86K per grant, based on its IRS Form 990 filings.
What is Raza Development Fund Inc's EIN?
Raza Development Fund Inc's EIN (Employer Identification Number) is 52-1954196. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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