Washington Area Community Investment
The Washington Area Community Investment Fund (WACIF) is a nonprofit community loan fund established in 1987 to increase equity and economic opportunity in the Washington, DC area's underserved communities. Based at 2012 Rhode Island Avenue NE in Washington, DC, WACIF serves entrepreneurs across the District of Columbia, Maryland, and Virginia region. The organization operates as a 501(c)(3) public charity and has been continuously certified as a Community Development Financial Institution (CDFI) since 1996, making it one of the nation's first CDFIs.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$12.1M
-15.9% YoY
Annual Giving
$652K
-85.1% YoY
Grant Count
2
-84.6% YoY
Avg Grant Size
$326K
-3.3% YoY
Mission & Focus Areas
WACIF's mission is to increase economic opportunity in communities in the Washington, DC area by investing knowledge, social, and financial capital in low- and moderate-income entrepreneurs. The organization's mission is driven by three strategic pillars:
- Inclusive Entrepreneurship
- Community Wealth Building
- Equitable Economic Opportunity
The organization fulfills its mission by providing:
- Access to capital products and services
- Capacity building technical assistance and advisory services
- Business training and support
- Networking opportunities
Grantmaking
WACIF provides access to financing through various capital products and services designed for low- and moderate-income entrepreneurs. The organization offers:
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Geographic Focus
Where this funder awards grants
WACIF serves entrepreneurs in the Greater Washington DC Area, with specific focus on:
- Washington, DC
- Maryland
- Virginia
The organization prioritizes underserved communities within this region.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2023:
- Revenue: $7.62 million
- Expenses: $10.8 million
- Total Assets: $14.3 million
- Total Liabilities: $6.39 million
The organization reported conflict of interest transactions in its 2023 tax filing.
Organizational Capacity:
- Staff: 47 employees
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $12,057,310 | $14,335,295 | $16,503,969 |
| Revenue | $4,141,530 | $7,616,507 | $9,086,978 |
| Expenses | $6,386,456 | $10,848,582 | $6,866,291 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $163,216 | $126,501 | $2,656 |
| 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 2 recipients in 2024
Grant Size Distribution
75 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| NANCY STARK | BOARD CHAIR | 3 | — |
| NORA DIAMOND-JONES | SECRETARY | 2 | — |
| ROBERT RIORDAN | BOARD VICE CHAIR | 2 | — |
| BRIAN NAGENDRA | TREASURER | 2 | — |
| COURTNEY R SNOWDEN | BOARD MEMBER | 1 | — |
| MARISA G FLOWERS | BOARD MEMBER | 1 | — |
| JESSEL AMIN | BOARD MEMBER | 1 | — |
| CARYLN MADDEN | BOARD MEMBER | 1 | — |
| EMEKA MONEME | BOARD MEMBER | 1 | — |
| KLADE HARE NERSASIAN | BOARD MEMBER | 1 | — |
| ABIGAIL SUAREZ | BOARD MEMBER | 1 | — |
| COREY GRIFFIN | BOARD MEMBER | 1 | — |
| MATTHIAS GLATTING | BOARD MEMBER | 1 | — |
| AQUIL STINSON | BOARD MEMBER | 1 | — |
| MACEO CLARK | BOARD MEMBER | 1 | — |
| ANDREA LONGTON | BOARD MEMBER | 1 | — |
| MALACHI MCKINNEY | BOARD MEMBER | 1 | — |
| EVAN PIEKARA | BOARD MEMBER | 1 | — |
| KEVIN FRYATT | CFOO & CO-INTERIM CEO UNTIL 5/3/24 | 40 | $82,837 |
| KIMBERLY GAYLE | CHIEF PROGRAMS OFFICER | 40 | $168,027 |
| SHANNAN HERBERT | CHIEF EXECUTIVE OFFICER | 40 | $209,947 |
| SHAUNA YELDELL | CHIEF LENDING OFFICER UNTIL 10/16/24 | 40 | $152,730 |
| MEGAN CARRAS | CHIEF DEVELOPMENT OFFICER | 40 | $181,790 |
| JUNELL VENORD | SENIOR HUMAN CAPITAL DIRECTOR | 40 | $143,488 |
| MESSAY DEREBE | AAC GENERAL DIRECTOR | 30 | $146,736 |
| SHERRY GUSTAFSON | DIRECTOR OF FINANCE UNTIL 12/06/2024 | 40 | $142,806 |
Recent News & Activity
Recent developments and announcements
**Anacostia Arts Center Redevelopment:** WACIF announced a $3 million grant award for reimagining the Anacostia Arts Center, with groundbreaking on the transformative renovation marking a new era for creativity, community, and entrepreneurship east of the river.
Anacostia Arts Center Breaks Ground on Transformative Renovation, Marking**Sustainable DC Grant:** WACIF secured $3.6 million in grant funding to boost the green economy for communities of color.
Wacif Announces $3 Million Grant Award for Reimagining the Anacostia Arts**National SBA Award:** WACIF received a competitive, national Small Business Administration award to strengthen entrepreneur resiliency.
Wacif Announces $3 Million Grant Award for Reimagining the Anacostia Arts**MBDA Partnership:** In 2020, WACIF was one of five organizations nationwide selected to receive a competitive, national grant from the Minority Business Development Agency to launch the Office of Women's Initiatives and join the national Enterprising Women of Color Initiative.
Wacif Announces $3 Million Grant Award for Reimagining the Anacostia ArtsContact Information
- Website: wacif.org
- Address: 2012 Rhode Island Avenue NE, Washington, DC 20018-2835
- Phone: 202-529-5505
- EIN: 54-1442466
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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