Washington Area Community Investment Fund Inc
Washington Area Community Investment Fund Inc (WACIF) is a Washington, DC–based public charity and nonprofit community loan fund established in 1987. It works to increase equity and economic opportunity in underserved communities in the Washington, DC area, supporting low- and moderate-income entrepreneurs through financing and business advisory services.
Washington Area Community Investment Fund Inc at a glance
In short: Washington Area Community Investment Fund Inc gave $925K across 5 grants in 2025 (avg $185K), mostly in District of Columbia. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $925,097
- +41.9% vs 2024
- Grants made (2025)
- 5
- +150.0% vs 2024
- Average grant
- $185,019
- -43.2% vs 2024
- Median grant
- $125,000
- Total assets
- $11,508,062
- -4.6% vs 2024
- Primary geography
- District of Columbia (94% 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 Washington Area Community Investment Fund Inc
- Contact
Mailing address: 2012 Rhode Island Avenue Ne, Washington, DC 20018
Phone: (202) 529-5505
Website: https://wacif.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Washington Area Community Investment Fund Inc funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was Anacostia Entrepreneurship Center Inc ($405K). Together the top 5 received $925K.
Grant Size Distribution
65 grants across all recorded years
The most common grant size was under $50K: 49 grants of 65 (75%).
Geographic Focus
Where this funder awards grants
WACIF describes its work as serving the Washington, DC area. Its business-loan eligibility information specifies DC; Montgomery County and Prince George’s County in Maryland; and Arlington County, the City of Alexandria, Fairfax County, and the City of Fairfax in Virginia. Its 2025 grants went primarily to recipients in DC, with one recipient in Arizona.
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
Cities
How Washington Area Community Investment Fund Inc gives
- Giving fell 28% 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 2020 to 2025, annual grant giving ranged from $165K (2020) to $4.4M (2023). In 2025 it made 5 grants totaling $925K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Anacostia Entrepreneurship Center Inc Washington, DC | Operating Support | $404,882 |
| 1231-1235 Good Hope Road Inc Washington, DC | Operating Support | $275,215 |
| Bbar Washington, DC | Program Support | $125,000 |
| Yeleen Beauty LLC Washington, DC | Program Support | $60,000 |
| Seed Spot Inc Phoenix, AZ | Program Support | $60,000 |
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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 | $11,508,062 | $6,672,318 | $6,907,756 | $925,097 | 5 | $152,878 |
| 2024 | $12,057,310 | $4,141,530 | $6,386,456 | $651,716 | 2 | $163,216 |
| 2023 | $14,335,295 | $7,616,507 | $10,848,582 | $4,380,032 | 13 | $126,501 |
| 2022 | $16,503,969 | $9,086,978 | $6,866,291 | $1,276,657 | 35 | $2,656 |
| 2021 | $14,906,500 | $7,620,930 | $4,660,784 | $1,108,016 | 10 | $4,252 |
| 2020 | $11,726,882 | $6,397,191 | $2,735,664 | $165,345 | 15 | $5,211 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
WACIF’s stated mission is to increase economic opportunity in the Washington, DC area by investing knowledge, social, and financial capital in low- and moderate-income entrepreneurs. Its stated pillars are inclusive entrepreneurship, community wealth building, and equitable economic opportunity.
The organization provides flexible small-business financing and advisory support, including group classes, one-on-one assistance, and cohort-based programs. Its 2025 filing describes advisory topics including business planning, marketing, financial management, law, real estate, and preparing businesses for transactions.
The 2025 grants included support for organizations with varied roles. Anacostia Entrepreneurship Center and 1231-1235 Good Hope Road each describe their missions as supporting WACIF’s functions and purposes. Building Bridges Across the River says it works to improve quality of life for children, youth, and families east of the Anacostia River, including through leadership and oversight of THEARC and the Skyland Workforce Center. SEED SPOT describes its mission as educating, accelerating, and investing in diverse, impact-driven entrepreneurs.
Grantmaking
In filing year 2025, WACIF reported five grants totaling $925,097. Grants ranged from $60,000 to $404,882, with a median of $125,000. The largest awards were $404,882 to Anacostia Entrepreneurship Center for operating support and $275,215 to 1231-1235 Good Hope Road for operating support. Other listed grants were $125,000 to BBAR for program support, $60,000 to Yeleen Beauty LLC for program support, and $60,000 to SEED SPOT for program support. The filing reports that 94% of grant dollars went to recipients in DC and 6% to recipients in Arizona.
WACIF’s 2025 filing says it acted as an agent and intermediary for the DC Office of the State Superintendent of Education and the DC Deputy Mayor for Planning and Economic Development, distributing grant funds to small businesses in Washington, DC. It also says WACIF issues subgrants through programs it manages, with recipients monitored under agency or WACIF guidelines and often required to document use of funds.
WACIF’s website describes a separate process for business loans: applicants begin with an online client inquiry form, after which a small-business advisor contacts them. Loan applicants are generally required to have been in business for at least one year, have had at least $50,000 in revenue in the previous fiscal year, and be located in DC, Montgomery County or Prince George’s County in Maryland, or specified counties and cities in Virginia. Typical loan documentation includes two years of personal and business tax returns, a personal financial statement, interim profit-and-loss statement and balance sheet, business bank statements, and incorporation documents and licenses. The site gives typical loan amounts of $10,000–$250,000 and terms of three to six years; it does not describe this as a grant application process.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Matt Glatting as board chair; Evan Piekara as secretary; Robert Riordan as board vice chair; and Andrea Longton as treasurer. It lists Courtney R. Snowden, Marisa G. Flowers, Jessel Amin, Caryln Madden, Emeka Moneme, and Klade Hare Nersasian as board members.
Washington Area Community Investment Fund Inc is led by Shannan Herbert, Chief Executive Officer on every filing since 2024; 10 of 30 officers listed in 2025 are compensated.
Officers on the 2025 filing
Shannan Herbert
Chief Executive Officer
On filings since 2024
40 hrs/week
$210K (2024) → $252K (2025)
Matt Glatting
Board Chair
Board Member → Board Chair, 2025
On filings since 2020
3 hrs/week
No compensation reported
Junell Venord
Human Capital Director
Human Capital Director → Senior Human Capital Director, 2024
Senior Human Capital Director → Human Capital Director, 2025
On filings since 2022
40 hrs/week
$127K (2022) → $133K (2025)
Kara Ulmer
Operations Director
On filings since 2023
40 hrs/week
$117K (2023) → $156K (2025)
Messay Derebe
Aac General Director
On filings since 2024
30 hrs/week
$147K (2024) → $151K (2025)
Marisela Rodela
Owi Program Director
New on the 2025 filing
40 hrs/week
$106K (2025)
Kimberly Gayle
Chief Programs Officer
On filings since 2021
40 hrs/week
$127K (2021) → $159K (2025)
Megan Carras
Chief Development Officer
On filings since 2023
40 hrs/week
$137K (2023) → $159K (2025)
David Maley
Interim CFO
New on the 2025 filing
40 hrs/week
$101K (2025)
John McLean
Chief Financial Officer
New on the 2025 filing
40 hrs/week
$126K (2025)
Rasul Sha'ir
Small Business Advisor
New on the 2025 filing
40 hrs/week
$101K (2025)
Aquil Stinson
Board Member
On filings since 2020
1 hr/week
No compensation reported
Brian Nagendra
Board Member
Treasurer → Board Member, 2025
On filings since 2020
1 hr/week
No compensation reported
Nancy Stark
Board Member
Board Chair - → Board Chair, 2022
Board Chair → Board Member, 2025
On filings since 2020
1 hr/week
No compensation reported
Nora Diamond-Jones
Board Member
Secretary → Board Member, 2025
On filings since 2020
1 hr/week
No compensation reported
Corey Arnez Griffin
Board Member
On filings since 2022
1 hr/week
No compensation reported
Emeka Moneme
Board Member
On filings since 2022
1 hr/week
No compensation reported
Klade Hare Nersasian
Board Member
On filings since 2022
1 hr/week
No compensation reported
Caryln Madden
Board Member
On filings since 2023
1 hr/week
No compensation reported
Courtney R. Snowden
Board Member
On filings since 2023
1 hr/week
No compensation reported
Jessel Amin
Board Member
On filings since 2023
1 hr/week
No compensation reported
Marisa G. Flowers
Board Member
On filings since 2023
1 hr/week
No compensation reported
Robert Riordan
Board Vice Chair
On filings since 2023
2 hrs/week
No compensation reported
Andrea Longton
Treasurer
Board Member → Treasurer, 2025
On filings since 2024
2 hrs/week
No compensation reported
Evan Piekara
Secretary
Board Member → Secretary, 2025
On filings since 2024
2 hrs/week
No compensation reported
Maceo Clark
Board Member
On filings since 2024
1 hr/week
No compensation reported
Malachi McKinney
Board Member
On filings since 2024
1 hr/week
No compensation reported
Alexandra Sing
Board Member
New on the 2025 filing
1 hr/week
No compensation reported
Scott Yochum
Board Member
New on the 2025 filing
1 hr/week
No compensation reported
Susan Cappelini
Board Member
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (26)
- Former: Kevin Fryatt (2020–2024) — Cfoo & Co-Interim CEO
- Former: Shauna Yeldell (2021–2024) — Chief Lending Officer
- Former: Abigail Suarez (2022–2024) — Board Member
- Former: Matthias Glatting (2023–2024) — Board Member
- Former: Sherry Gustafson (2024) — Director of Finance
- Former: Brian Lewald (2020–2023) — Board Member -
- Former: Harold Pettigrew (2020–2023) — Chief Executive Officer-
- Former: Brendon Miller Chief Of Staff (2023)
- Former: Kevin Fryatt Cfoo (2023) — Co-Interim CEO Since · Filing note: Until 122023
- Former: Kimberly Gayle Chief Programs (2023) — Officer
- Former: Sowmya Pelluru Chief (2023) — Communications & Branding Officer
- Former: Anne Morrison (2020–2022) — Board Member
- Former: Dawnn Leary (2020–2022) — Board Member -
- Former: Devin Leary-Hanebrink (2020–2022) — Board Member -
- Former: Rob Riordan (2020–2022) — Board Vice Chair
- Former: Kevin Fryatt Chief Financial (2021–2022) — Operations Officer
- Former: Brendon Miller Chief Develop (2022) — Communications Officer
- Former: Patricia Thornton (2022) — Director of Finance
- Former: Sowmya Pelluru (2022) — Board Member -
- Former: Valerie Kindt (2022) — Director of Strategic Initiatives
- Former: Alejandro Golding (2020–2021) — Board Member
- Former: Erin Crossett (2020–2021) — Board Member -
- Former: Ronald Kelly (2020–2021) — Board Member -
- Former: Brendon Miller Chief Development (2021) — Communications Officer
- Former: Dawnn Leary Board Chair (2021)
- Former: Brendon Miller (2020) — Director of Development & Committee
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
The highest reported compensation on the 2025 filing was $252K, to Shannan Herbert (Chief Executive Officer). 10 officers or directors reported compensation on that filing.
Frequently asked questions about Washington Area Community Investment Fund Inc
How much does Washington Area Community Investment Fund Inc give each year?
Washington Area Community Investment Fund Inc gave $925K across 5 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $652K across 2 grants.
What is Washington Area Community Investment Fund Inc's typical grant size?
Washington Area Community Investment Fund Inc's median grant in 2025 was $125,000, and its average grant was $185,019, across 5 grants on its 2025 IRS Form 990.
Where does Washington Area Community Investment Fund Inc give grants?
Washington Area Community Investment Fund Inc gives mostly in District of Columbia: 94% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The next largest state was Arizona (6%). The most frequent recipient cities were Washington, DC (4 grants).
Does Washington Area Community Investment Fund Inc give general operating support?
Yes: 40% of Washington Area Community Investment Fund Inc's 2025 grants with a stated purpose (2 of 5) were for general or operating support, per its 2025 IRS Form 990. Recurring purposes include "Program Support" (3 grants).
Who are Washington Area Community Investment Fund Inc's largest grantees?
Washington Area Community Investment Fund Inc's largest 2025 grantees include Anacostia Entrepreneurship Center Inc ($404,882), 1231-1235 Good Hope Road Inc ($275,215) and Bbar ($125,000), according to its 2025 IRS Form 990. Together they received 87% of its itemized 2025 grant dollars.
How large is Washington Area Community Investment Fund Inc?
Washington Area Community Investment Fund Inc reported $11.5M in total assets on its 2025 IRS Form 990. Its revenue that year was $6.7M.
What does Washington Area Community Investment Fund Inc fund?
WACIF’s stated mission is to increase economic opportunity in the Washington, DC area by investing knowledge, social, and financial capital in low- and moderate-income entrepreneurs. Its stated pillars are inclusive entrepreneurship, community wealth building, and equitable economic opportunity. See mission & focus areas ↑
How do I apply for a grant from Washington Area Community Investment Fund Inc?
Washington Area Community Investment Fund Inc has no public application process in the sources Grantable reviewed. Check wacif.org for current guidelines, or contact the foundation directly before submitting a request.
What is Washington Area Community Investment Fund Inc's EIN?
Washington Area Community Investment Fund Inc's EIN (Employer Identification Number) is 54-1442466. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS March 25, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS April 13, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 12, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 6, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS July 18, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS August 25, 2026)
- IRS filings on file for fiscal years 2020–2024
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