Raza Development Fund Inc
Raza Development Fund Inc (RDF) is a public charity based in Phoenix, Arizona. Its stated mission is to unlock lasting prosperity in communities across America. RDF describes its loan fund programs as lending to assist low-income communities by increasing access to capital.
Raza Development Fund Inc at a glance
In short: Raza Development Fund Inc gave $1.3M across 9 grants in 2025 (avg $141K), top state California. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $1,265,000
- +4.5% vs 2024
- Grants made (2025)
- 9
- -35.7% vs 2024
- Average grant
- $140,556
- +62.6% vs 2024
- Median grant
- $100,000
- Total assets
- $378,020,114
- +4.1% vs 2024
- Primary geography
- California (43% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026.
How to apply to Raza Development Fund Inc
- Contact
Mailing address: 410 E Southern Ave, Phoenix, AZ 85040
Phone: (602) 417-1400
Website: https://razafund.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Raza Development Fund Inc funds
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2025
The largest 2025 recipient was Dream on ($400K). Together the top 9 received $1.3M.
Grant Size Distribution
73 grants across all recorded years
The most common grant size was under $50K: 44 grants of 73 (60%).
Geographic Focus
Where this funder awards grants
RDF is based in Phoenix, Arizona. Its 2025 grants went to recipients in California, Texas, Arizona, Washington, DC, and Florida. By share of grant dollars, California accounted for 43%, Texas 32%, Arizona 16%, Washington, DC 8%, and Florida 1%.
Grant Distribution by State
Share of 2025 grant dollars across all 9 itemized grants.
States
Cities
How Raza Development Fund Inc gives
- Giving fell 66% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $497K (2019) to $3.7M (2022). In 2025 it made 9 grants totaling $1.3M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Dream on San Antonio, TX | Community Development | $400,000 |
| Canal Alliance San Rafael, CA | Community Development | $250,000 |
| Valle Del Sol Inc Phoenix, AZ | Community Development | $100,000 |
| East La Community Corporation Los Angeles, CA | Community Development | $100,000 |
| Altamed Foundation Los Angeles, CA | Community Development | $100,000 |
| Mountain Park Health Center Phoenix, AZ | Community Development | $100,000 |
| La Clinica Del Pueblo Washington, DC | Community Development | $100,000 |
| Clinica MSR Oscar a Romero Los Angeles, CA | Community Development | $100,000 |
| Hispanic Unity of Florida Inc Hollywood, FL | Community Development | $15,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $378,020,114 | $44,302,420 | $25,986,480 | $1,265,000 | 9 | $2,692,234 |
| 2024 | $363,067,878 | $25,660,512 | $23,615,314 | $1,210,000 | 14 | $3,192,211 |
| 2023 | $335,227,129 | $26,318,340 | $20,725,703 | $590,000 | 4 | $2,172,984 |
| 2022 | $296,838,353 | $48,137,884 | $24,595,544 | $3,675,000 | 26 | $279,354 |
| 2021 | $287,338,176 | $23,229,153 | $16,701,198 | $583,500 | 20 | $185,848 |
| 2020 | $267,668,702 | $19,838,701 | $17,092,489 | $871,400 | 74 | $541,329 |
| 2019 | $232,681,777 | $17,322,425 | $16,665,600 | $496,500 | 16 | $455,015 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
RDF’s stated mission is “unlocking lasting prosperity in communities across America.” Its 2024 filing describes loan fund programs intended to increase access to capital in low-income communities and reports 43 loans approved.
The organizations receiving RDF’s 2025 grants work in areas including health care, immigrant services, and neighborhood and economic development. For example, Canal Alliance describes its work as serving Marin’s extremely low-income immigrant community and seeking to break the generational cycle of poverty for Latino immigrants and their families. Mountain Park Health Center says it provides affordable primary care to people who need it most. East LA Community Corporation describes a mission focused on economic and social justice, affordable housing, neighborhood assets, and economic development opportunities for low- and moderate-income families.
Grantmaking
In 2025, RDF reported nine grants totaling $1,265,000. Grants ranged from $15,000 to $400,000, with a median of $100,000. All nine listed grants had the purpose of community development. The largest awards were $400,000 to DREAM ON in San Antonio, Texas, and $250,000 to Canal Alliance in San Rafael, California. RDF also awarded $100,000 each to Valle del Sol, East LA Community Corporation, AltaMed Foundation, Mountain Park Health Center, La Clinica del Pueblo, and Clinica Msr Oscar A Romero, and $15,000 to Hispanic Unity of Florida.
RDF’s 2024 filing described grant contracts that encompass different project stages, with capital allocated to third-party consultants providing technical assistance and development practices for project implementation.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Daniel Ortega as board chair, Brenda Loya as vice chair, Kenneth I. Trujillo as secretary, and Mary Ann Donovan as president and CEO. It also lists Aaron Dominguez, J. Reymundo Ocañas, Luis Granados, Maria S. Salinas, and Matt Reilein as board members.
RDF’s team page identifies Annie Donovan as president and CEO and lists Brenda Loya as chief investment officer.
Raza Development Fund Inc is led by Mary Ann Donovan, President & CEO on every filing since 2022; 11 of 22 officers listed in 2025 are compensated.
Officers on the 2025 filing
Mary Ann Donovan
President & CEO
On filings since 2022
40 hrs/week
$167K (2023) → $458K (2025)
Daniel Ortega
Board Chair
Secretary → Board Chair, 2022
On filings since 2019
1 hr/week
No compensation reported
Antonio Lopez
Chief Financial Officer
Deputy CFO → Chief Financial Officer, 2023
On filings since 2019
40 hrs/week
$107K (2019) → $224K (2025)
Juan Madrid
Senior Vice President, Deputy CFO & Controller
Controller → Deputy CFO & Controller, 2024
Deputy CFO & Controller → Senior Vice President, Deputy CFO & Controller, 2025
On filings since 2019
40 hrs/week
$134K (2019) → $204K (2025)
Melissa McDonald
Chief People & Operating Officer
Chief Operating Officer → Chief People & Operations Officer, 2024
Chief People & Operations Officer → Chief People & Operating Officer, 2025
On filings since 2019
40 hrs/week
$138K (2019) → $302K (2025)
Scott Richter
Chief Credit Officer
On filings since 2019
40 hrs/week
$155K (2019) → $208K (2025)
Adrian Ruiz
Chief Invest Officer
Deputy Chief Investment Officer → Chief Investment Officer, 2023
Chief Investment Officer → Chief Invest Officer, 2025
On filings since 2020
40 hrs/week
$124K (2020) → $224K (2025)
Amanda Sanchez
Senior Vice President of Education
Director- Pacific Northwest Region → Vice President of Education, 2024
Vice President of Education → Senior Vice President of Education, 2025
On filings since 2023
40 hrs/week
$143K (2023) → $170K (2025)
Pedro Chaves
Senior Vice President & Deputy Chief Credit Officer
Deputy Chielf Credit Officer → Deputy Chief Credit Officer, 2024
Deputy Chief Credit Officer → Senior Vice President & Deputy Chief Credit Officer, 2025
On filings since 2023
40 hrs/week
$157K (2023) → $157K (2025)
Erik Hartman
Chief Information Technology Officer
Chief It Officer → Chief Information Technology Officer, 2025
On filings since 2024
40 hrs/week
$131K (2025)
Ailisa Herrera
Senior Vice President Affordable Housing
New on the 2025 filing
40 hrs/week
$169K (2025)
Amy Laughlin
Senior Vice President, Deputy CIO & Structured Finance
New on the 2025 filing
40 hrs/week
$181K (2025)
Aaron Dominguez
Board Member
On filings since 2019
1 hr/week
No compensation reported
Brenda Loya
Vice Chair
Board Member → Vice Chairperson, 2022
Vice Chairperson → Vice Chair, 2024
On filings since 2019
1 hr/week
No compensation reported
Donna Gambrell
Board Member
On filings since 2019
1 hr/week
No compensation reported
Janet Murguia
Board Member
On filings since 2019
1 hr/week
No compensation reported
Kenneth I. Trujillo
Secretary
Board Member → Secretary, 2024
On filings since 2019
1 hr/week
No compensation reported
Luis Granados
Board Member
On filings since 2019
1 hr/week
No compensation reported
J. Reymundo Ocanas
Board Member
On filings since 2023
1 hr/week
No compensation reported
Maria S. Salinas
Board Member
On filings since 2023
1 hr/week
No compensation reported
Daniah Ikram
Chief Credit Officer
New on the 2025 filing
40 hrs/week
No compensation reported
Matt Reilein
Board Member
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (16)
- Former: David Clower (2019–2024) — Executive Vice President Strategic Investment
- Former: Joseph F. Reilly (2019–2024) — Secretary
- Former: Rodrigo Vela (2019–2024) — Former CFO
- Former: Catherine Kes (2020–2024) — Senior Director of Specialty Finance
- Former: Sima Thakkar (2024) — Senior Vice President Community Innovations
- Former: Art Ruiz (2019–2023) — Board Member
- Former: Brian Champeau (2019–2023) — Director - East Coast Regi
- Former: James W. Feild (2019–2023) — Board Member
- Former: Tom Espinoza (2019–2023) — President & CEO
- Former: Mark Van Brunt (2019–2022) — Executive Vice President
- Former: Janis Bowdler (2019–2021) — Board Member
- Former: Kimberly Latimer-Nelligan (2019–2021) — Board Member
- Former: Roldan Trujillo (2019–2021) — Board Member
- Former: Arabella Martinez (2019–2020) — Vice Chairperson
- Former: Guadalupe Gomez (2019) — Director - Small Business Initiatives
- Former: Laura Avelar (2019) — Director - Loan Operations
Data from IRS Form 990 filings, 2019–2025. "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
The highest reported compensation on the 2025 filing was $458K, to Mary Ann Donovan (President & CEO). 11 officers or directors reported compensation on that filing.
Frequently asked questions about Raza Development Fund Inc
How much does Raza Development Fund Inc give each year?
Raza Development Fund Inc gave $1.3M across 9 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $1.2M across 14 grants.
What is Raza Development Fund Inc's typical grant size?
Raza Development Fund Inc's median grant in 2025 was $100,000, and its average grant was $140,556, across 9 grants on its 2025 IRS Form 990.
Where does Raza Development Fund Inc give grants?
Raza Development Fund Inc's top state is California, with 43% of the grant dollars itemized on its 2025 IRS Form 990. The next largest states were Texas (32%) and Arizona (16%). The most frequent recipient cities were Los Angeles, CA (3 grants) and Phoenix, AZ (2 grants).
Does Raza Development Fund Inc give general operating support?
Not in 2025: none of the 9 grants with a stated purpose on Raza Development Fund Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Community Development" (9 grants).
Who are Raza Development Fund Inc's largest grantees?
Raza Development Fund Inc's largest 2025 grantees include Dream on ($400,000), Canal Alliance ($250,000) and Valle Del Sol Inc ($100,000), according to its 2025 IRS Form 990. Together they received 59% of its itemized 2025 grant dollars.
How large is Raza Development Fund Inc?
Raza Development Fund Inc reported $378.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $44.3M.
What does Raza Development Fund Inc fund?
RDF’s stated mission is “unlocking lasting prosperity in communities across America.” Its 2024 filing describes loan fund programs intended to increase access to capital in low-income communities and reports 43 loans approved. See mission & focus areas ↑
How do I apply for a grant from Raza Development Fund Inc?
Raza Development Fund Inc has no public application process in the sources Grantable reviewed. Check razafund.org for current guidelines, or contact the foundation directly before submitting a request.
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 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS August 13, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS August 12, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS August 14, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS August 13, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS August 14, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS August 17, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS August 14, 2026)
- IRS filings on file for fiscal years 2020–2024
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