irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $4.29MINCLUSIV'S CENTER FOR RESILIENCY AND CLEAN ENERGY WAS CREATED IN 2019 TO TEACH AND SUPPORT COMMUNITY-BASED FINANCIAL INSTITUTIONS (CREDIT UNIONS, FINANCIAL COOPERATIVES, CDFI LOAN FUNDS, COMMUNITY BANKS, AND GREEN BANKS) LAUNCHING AND SCALING CLEAN ENERGY FINANCE INITIATIVES THAT ENABLE COMMUNITIES TO ACCESS AFFORDABLE CLEAN ENERGY SERVICES, REDUCE ENERGY BURDENS, CREATE GOOD JOBS, AND BUILD CLIMATE RESILIENCE AND DISASTER PREPAREDNESS. THE CENTER PROVIDES PRACTICAL, HANDS-ON TRAINING AND TECHNICAL ASSISTANCE FOR COMMUNITY LENDERS; TECHNOLOGY PLATFORMS AND FINANCIAL INSTRUMENTS THAT HELP TO SCALE COMMUNITY-BASED CLEAN ENERGY MARKETS; AND RESEARCH AND THOUGHT LEADERSHIP TO HELP IDENTIFY OPPORTUNITIES FOR INVESTMENT AND GROWTH OF THESE MARKETS.
- #2 $966KINCLUSIV OFFERS A VARIETY OF SUPPORT SERVICES TO ITS SMALL (UNDER $100 MILLION IN ASSETS) AND MDI DESIGNATED CREDIT UNION MEMBERS, WHICH SERVE PEOPLE AND COMMUNITIES TRADITIONALLY MARGINALIZED BY THE FINANCIAL MAINSTREAM. THROUGH OUR LEARNING CENTERS WE PROVIDE SPECIALIZED KNOW-HOW TO SUPPORT THESE VITAL INSTITUTIONS' GROWTH AND IMPACT. WE ALSO PROVIDE DATA ANALYTIC TOOLS, LIQUIDITY SOLUTIONS AND, WHEN FUNDING OPPORTUNITIES BECOME AVAILABLE, GRANT PROGRAMS TO SUPPORT UNDER-RESOURCED CREDIT UNIONS IN MAKING STRATEGIC INVESTMENTS THAT ENHANCE THEIR CAPACITY TO SERVE LOW-INCOME AND UNDERSERVED MEMBERS OF THEIR COMMUNITIES.
named programs · 8 · from sources
What they call their work
Build and Save Matched Savings Initiative
Grant program that provides matched savings opportunities for credit union members to build financial security and achieve personal financial goals.
Center for Resiliency and Clean Energy
Supports community lenders in launching and scaling clean energy finance initiatives through training, technical assistance, technology platforms, and research.
Financial Inclusion Data Analytics Platform (FIDAP)
Provides community development credit unions with on-demand data analytics, CDFI progress tracking, peer benchmarking, and compliance support to strengthen mission and financial performance.
MDI Support and Network
Delivers targeted technical assistance, training, and capacity-building resources to Minority Depository Institutions, including webinars, one-on-one consultations, and the New Majority Growth Initiative.
Operations & Compliance Support
Offers regulatory training, policy resources, audit tracking, and strategic planning services to small and under-resourced credit unions to ensure compliance and sustainability.
Secondary Mortgage Market & Second Look Program
Offers credit unions a secondary market for affordable mortgages through FLOW (immediate purchase), Bulk (seasoned loan purchases), and a Loan Participation Marketplace, along with a Second Look review to approve declined loans.
Small Business Capital Initiative Loan Loss Fund
Reduces risk for member credit unions engaging in small business lending by offering partial loan loss guarantees to incentivize participation in small business loan portfolios.
Subordinated Debt Program
Provides regulatory capital to qualifying credit unions and cooperativas to strengthen balance sheets, support growth, and expand lending in underserved markets.
activities · 10 groups
What they do
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Interest-Free Loan and Grant Support 4 activities
- Funds credit unions through subordinated debt and deposit instrumentsProvides capital to member community development credit unions via uninsured subordinated debt loans and insured non-member deposits to strengthen balance sheets and support lending in underserved communities.
- Provides access to grants, loans, and specialized fundingConnects community development credit unions with grants, low-interest loans, and specialized funding opportunities to support expansion of affordable financial products and services in economically disadvantaged and historically underserved areas.
- Provides impact capital services for high-impact lendingOffers impact capital services including co-investment by retaining portions of loans or pools to share risk with lead lenders and participants, enabling credit unions to expand lending in underserved communities.
- Provides small business loan loss guarantee programOffers member credit unions a loan loss guarantee covering up to 20% of the charged-off balance on enrolled small business loans, reducing risk and encouraging participation in small business lending.
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Data & Technology Capacity Building 2 activities
- Produces Community Development Profiles for credit unionsProvides detailed profiles featuring peer comparisons, financial performance metrics, and inclusive lending analyses to support data-driven decision-making at community development credit unions.
- Provides compliance, analytics, and reporting platform for CDFI credit unionsOffers an online platform enabling community development credit unions to manage CDFI certification and compliance reporting (including Transaction Level Reports and Annual Certification Reports), conduct impact measurement, benchmark performance against peers, analyze lending data across sectors like clean energy, and generate dashboards and exports for presentations and analysis.
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Community Capacity Building & Leadership Networks 1 activity
- Administers New Majority Growth InitiativeSupports leaders of minority depository institution (MDI) credit unions and cooperativas through training, consulting, tools, and access to financial resources to grow their institutions and deepen community impact.
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Industry Advocacy and Regulatory Engagement 1 activity
- Advances policy advocacy through impact data toolkitsProvides toolkits to help credit unions identify and communicate key impact data to policymakers and stakeholders, strengthening advocacy efforts for financial inclusion.
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Flexible Grants to Grassroots Organizations 1 activity
- Awards grants through the Resilience FundOperates the Resilience Fund to distribute grants to minority depository institutions with less than $100 million in assets that serve communities of color disproportionately impacted by the coronavirus pandemic.
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Financial Literacy Education Programs 1 activity
- Develops and disseminates financial counseling modelsLaunched the Pathways to Financial Empowerment model in partnership with Neighborhood Trust Financial Partners to expand access to effective financial counseling services.
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Small Business and Nonprofit Lending 1 activity
- Operates Loan Participation Marketplace for credit unionsFacilitates loan transactions in small business loans, residential solar loans, and mortgages through a marketplace that enables credit unions to manage risk, expand portfolios, and maintain liquidity. Supports participation in single loans or pooled transactions with one or multiple buyers.
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First-Time Homebuyer Support Services 1 activity
- Provides secondary mortgage market solutionsOffers three core programs — FLOW (purchasing newly originated mortgages within one week of closing), Bulk (buying seasoned loan portfolios), and Second Look (re-evaluating declined mortgage applications) — to help credit unions recycle capital and expand homeownership access for under-resourced borrowers.
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Climate Finance Advisory & Research 1 activity
- Supports clean energy finance initiatives at credit unionsProvides training, technical assistance, technology platforms, and financial instruments to help community-based financial institutions launch and scale clean energy finance programs such as residential solar loans.
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Uncategorized 5 activities
- Awards matched savings grants through Build and Save InitiativeProvides grant funding to credit unions participating in the Spring 2026 Build and Save Matched Savings Initiative, which supports low-income savers through matching contributions.
- Delivers capacity-building training and technical assistanceOffers a comprehensive suite of capacity-building supports including a 7-week hybrid course on expanding homeownership, regulatory trainings (live and on-demand), compliance reviews (e.g., BSA, ACH), strategic and succession planning, operational resources (policy library, vendor tools, audit tracking), and peer learning opportunities for staff and volunteers at MDI credit unions.
- Facilitates access to social impact depositsProvides streamlined access to social impact deposits from impact investors for community development credit unions and cooperativas across urban, rural, and reservation-based communities in the U.S. and Puerto Rico through a partnership with Primary Financial Co., LLC.
- Offers expertise on subordinated debt for credit unionsProvides guidance on the regulatory, financial, and strategic use of subordinated debt to strengthen balance sheets and enhance community impact at credit unions and cooperativas.
- Provides outsourced mortgage processing and underwriting servicesPartners with CUMA to deliver outsourced mortgage loan processing, underwriting, and servicing to credit unions, using Inclusiv/Mortgage guidelines to support loan closings and sales to Inclusiv.
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financials · form 990 · fy2024
revenue
Total revenue$1.90B
Contributions & grants$1.89B100%
Program service revenue$7.67M0%
Investment income$12K0%
Other revenue$33K
expenses
Total expenses$15.00M
Program expenses90%
Admin / overhead9%
Fundraising1%
Salaries & benefits$7.07M
Grants paid out$1.51M
Largest expense lineCompensation
balance sheet
Total assets$1.96B
Cash$1.91B
Investments$396K
Liabilities$52.09M
Net assets$1.91B
Liquid reserves1525.9 mo
3 years on record · 2020–2024 · YoY revenue +15800.9%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 9
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| CATHLEEN MAHON | PRESIDENT/CEO | 40 | $388K |
| EBEN SHEAFFER THRU 092025 | CFO/CIO | 40 | $287K |
| PABLO DEFILIPPI | SVP NETWORK DEVELOPMENT | 40 | $263K |
| PAMELA OWENS | VICE PRESIDENT | 40 | $231K |
| SILVIA RINCON | COO | 40 | $209K |
| NEDA ARABSHAHI | EVP RESILIENCY & CLEAN ENERGY | 40 | $207K |
| ALEXIS IWANISZIW | SVP POLICY & COMMUNICATIONS | 40 | $195K |
| MING KYUNG CATHI KIM | SVP, CAPITAL, INVESTMENTS, & IMPACT | 40 | $187K |
| IAN FORSTER | GENERAL COUNSEL | 40 | $137K |
board members · 15
- AURELIO ARROYO CONZALEZ — DIRECTOR
- BLANCHE L JACKSON — VICE CHAIRMAN
- DIANE SANDOVAL-GRIEGO — DIRECTOR
- ED SIVAK — RECORDING SECRETARY
- HANK HUBBARD — DIRECTOR
- JACQUELINE MOORE — DIRECTOR
- JAMA R HAYNES — DIRECTOR
- JAMES HUNTER — CORRESPONDING SECRETARY
- JEFF IVEY — DIRECTOR
- KATHY CHARTIER — DIRECTOR
- MARGIE SALAZAR — DIRECTOR
- MICHEAL FRANQUI BAQUERO — DIRECTOR
- NEREIDA SEDA VARGAS — TREASURER
- ROBIN ROMAN — CHAIRMAN
- SUZETTE COWELL — DIRECTOR
relationships · 25
Who they work with
- CDCU MORTGAGE CENTER LLC Partner — Wholly owned subsidiary that purchases affordable mortgages from member credit unions
- CUMA Partner — Partnership to provide outsourced mortgage loan processing, underwriting, and servicing for credit unions.
- Church of The Master Federal Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- FIDAP Partner — Platform developed and offered by Inclusiv to support member credit unions with compliance, impact measurement, and strategic analytics.
- Fannie Mae Partner — Streamlined application process for credit unions already approved by Fannie Mae.
- Federal Home Loan Bank System Partner — Streamlined application process for credit unions already approved by the Federal Home Loan Bank System.
- Fellowship Baptist Church Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- Freddie Mac Partner — Streamlined application process for credit unions already approved by Freddie Mac.
- Greater Cleveland Community Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- IPC (Inclusive Prosperity Capital) Partner — Partners with Inclusiv to connect credit unions to the Smart-E Loan program.
- MBFS Partner — Partner organization providing small business loan processing and servicing support to Inclusiv members.
- MariSol Federal Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- Mastercard's Center for Inclusive Growth Funder — Supported the creation of the Loan Loss Fund.
- Members Credit Union Partner — Board member Kathy Chartier was President & CEO of Members Credit Union, indicating a leadership-level affiliation with the organization.
- MidWest Americal Federal Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- NYS credit unions Network — Provides access to the Business Forward program for credit unions in New York State.
- NYU Federal Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- Neighborhood Trust Financial Partners Partner — Co-launched the Pathways to Financial Empowerment financial counseling model with Inclusiv.
- New Majority Growth Initiative Partner — Collaborative program supporting leaders of MDI credit unions and cooperativas with growth-related resources and training.
- OnPath Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- Primary Financial Co., LLC Partner — Partner organization in administering the Social Impact Deposits Platform for community development credit unions.
- Rize Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- Southwest Louisiana Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- USC Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
- Urban Beginnings Choice Federal Credit Union Partner — Selected as a grantee in the Spring 2026 Build and Save Matched Savings Initiative.
strategies · 5
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Co-Investment & Risk-Mitigation Financing Modelmethodology: co_investment_risk_mitigationBy co-investing in loan pools and providing loan loss guarantees, Inclusiv reduces risk for credit unions and incentivizes high-impact lending because shared risk aligns incentives and enables underserved borrowers and small businesses to access capital they would otherwise be denied.
- Credit Union-Based Financial Inclusionmethodology: credit_union_based_inclusionBy leveraging credit unions as trusted, community-rooted financial institutions, Inclusiv advances financial independence for low- and moderate-income individuals because these institutions are better positioned to serve marginalized populations with culturally competent, mission-driven services.
- Expanded Underwriting & Manual Reunderwritingmethodology: expanded_underwritingBy using expanded mortgage guidelines and manually re-evaluating declined applications, Inclusiv increases homeownership access for under-resourced borrowers because automated systems often exclude creditworthy applicants due to narrow scoring models that fail to capture community-specific economic realities.
- Intermediary Model for Impact Investingmethodology: intermediary_impact_investingBy acting as a CDFI-certified intermediary, Inclusiv channels capital from impact investors into community development credit unions because this structured intermediation lowers barriers for institutional investors while ensuring funds reach high-need communities through local financial institutions.
- Mission-Integrated Data & Analyticsmethodology: mission_integrated_analyticsBy deploying mission-aligned data platforms and impact-tracking technology, Inclusiv enables credit unions to scale impact lending and measure social outcomes because data visibility strengthens strategic decision-making and aligns financial performance with community development goals.