Upper Manhattan Empowerment Zone
Upper Manhattan Empowerment Zone (UMEZ) is an independent, non-profit community development financing entity based in New York City. Founded in 1995 and designated as an urban empowerment zone under federal legislation in 1994, UMEZ operates as a certified Community Development Financial Institution (CDFI) recognized by the U.S. Department of the Treasury's CDFI Fund. The organization provides flexible capital solutions and financial services to strengthen under-resourced communities in Upper Manhattan and across New York City.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$82.9M
+4.2% YoY
Annual Giving
$829K
-56.4% YoY
Grant Count
18
-43.8% YoY
Avg Grant Size
$46K
-22.4% YoY
Mission & Focus Areas
Mission: To sustain the economic revitalization of all communities in Upper Manhattan through job creation, corporate alliances, strategic investments, and small business assistance.
UMEZ operates across five neighborhoods: Central Harlem, West Harlem, East Harlem, Washington Heights, and Inwood.
Primary Focus Areas:
Business Investments & Lending: Loans to mixed-use real estate development projects, commercial businesses, and small business enterprises. UMEZ supports projects that create new jobs and provides gap financing to under-capitalized ventures that traditional lenders may not serve.
Real Estate Development: Tax-exempt bonds for real estate development projects.
Cultural Investments: The Upper Manhattan Empowerment Cultural Industry Investment Fund provides grants to 501(c)(3) organizations based in New York to develop artistic and cultural centers and services in Upper Manhattan. Grant categories include: Reinvent/Re-Envision Cultural Historic Sites; Strengthen and Advance Primary Institutions; Develop and Build the Next Generation of Mid-sized Organizations; Nurture and Grow Cultural Resources through Service Organizations; and Creating Cultural Opportunities.
Workforce Development: Programs aligned directly with employment opportunities, including support for cultural programs and organizational development.
Grantmaking
UMEZ has provided approximately $259 million in total investments:
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Geographic Focus
Where this funder awards grants
UMEZ focuses on Upper Manhattan communities, specifically:
- Central Harlem
- West Harlem
- East Harlem
- Washington Heights
- Inwood
The organization has expanded its footprint to serve additional geographies across New York City.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year 2024:
- Total Assets: $82,891,599
- Total Revenues: $4,970,842
- Total Expenses: $4,768,358
- Total Liabilities: $6.32 million (as of 2023)
- Number of Employees: 17
Historical Impact: UMEZ investments have leveraged over $1.5 billion of private capital and created nearly 12,000 direct jobs.
Financial Rating: UMEZ received a Four-Star rating with a 96% score based on Accountability & Finance metrics.
Audit Finding: An independent audit for the fiscal year ending June 2024 identified a significant deficiency in internal controls related to tracking and reporting financial data reliably. This deficiency is less severe than a material weakness.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $82,891,599 | $79,521,172 | $79,925,047 |
| Revenue | $4,970,842 | $5,950,446 | $9,613,613 |
| Expenses | $4,768,358 | $5,219,399 | $6,862,166 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $2,622,790 | $1,118,913 | $449,785 |
| 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
124 grants across all recorded years
Open Grants
4 open opportunities from Upper Manhattan Empowerment Zone
UMEZ Arts Engagement Grant (UMAE)
UPPER MANHATTAN EMPOWERMENT ZONE
Amount
Up to $10,000
Deadline
Rolling / Open
UMEZ Cultural Aid Fund
UPPER MANHATTAN EMPOWERMENT ZONE
Amount
Varies
Deadline
Rolling / Open
UMEZ Cultural Industry Investment Fund (CIIF) - Capacity Building Grants
UPPER MANHATTAN EMPOWERMENT ZONE
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Blair Duncan – Chief Executive Officer
Norah L. McVeigh – Chief Administrative Officer (appointed September 2024). McVeigh brings experience from Technical Development Corporation and Nonprofit Finance Fund, where she held senior positions in financial services, strategy, and nonprofit consulting.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| AMIR KIRKWOOD | DIRECTOR | 5 | — |
| CHRISTOPHER BROWN | DIRECTOR | 5 | — |
| DENNIS MITCHELL | DIRECTOR | 5 | — |
| ELEAZAR BUENO | DIRECTOR | 5 | — |
| HARRIET MICHEL | DIRECTOR | 5 | — |
| JOSEPH J JOHNSON III | CHAIRPERSON | 5 | — |
| KEVIN CHAVERS | DIRECTOR | 5 | — |
| LISA DOWNING | DIRECTOR (UNTIL 9/11/23) | 5 | — |
| MARQUIS HARRISON | DIRECTOR | 5 | — |
| MAURINE KNIGHTON | VICE CHAIR | 5 | — |
| MICHAEL SMART | DIRECTOR | 5 | — |
| REEMA FAKIH | DIRECTOR | 5 | — |
| REV GEORGIETTE MORGAN-THOMAS | DIRECTOR | 5 | — |
| SABRINA STRATTON | DIRECTOR | 5 | — |
| TERESA EYRING | TREASURER | 5 | — |
| XAVIER SANTIAGO | DIRECTOR | 5 | — |
| BLAIR M DUNCAN | CEO | 37.5 | $302,639 |
| OLATUNDE ONIYIDE | CFO | 37.5 | $152,677 |
| DANIELLE FLEMING | SENIOR COMMERCIAL LENDING OFFICER | 37.5 | $106,180 |
| GINA L BOLDEN-RIVERA | SVP & CHIEF LENDING OFFICER | 37.5 | $185,510 |
| YAHSHAANYAH HILL | SVP & CHIEF PROGRAM OFFICER | 37.5 | $159,181 |
Recent News & Activity
Recent developments and announcements
**September 2024:** UMEZ appointed Norah L. McVeigh as Chief Administrative Officer, a newly created senior position to support accelerated loan growth across the organization's expanded New York City footprint.
**2023:** UMEZ extended its Hybrid Microloan Program through the end of 2023 and renewed a seed fund for dance with the Mertz Gilmore Foundation to support Upper Manhattan artists and choreographers.
Upper Manhattan Empowerment Zone Extends Hybrid Microloan Program Until\Contact Information
Address: 55 W 125th St, Floor 11, New York, NY 10027-4516
Phone: 212-410-0030
Website: www.umez.org
EIN: 13-3808669
Subject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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