named programs · 3 · from sources
What they call their work
Language Assistance Plan (LAP)
Provides bilingual staff, interpretation services, translated documents, and multilingual outreach to ensure equitable access for Limited English Proficiency individuals.
Small Business Lending
Offers capital and credit services to small businesses, particularly those owned by underrepresented entrepreneurs.
Structured Lending & Investments
Equity investment platform focused on affordable housing developers in historically under-resourced communities.
activities · 5 groups
What they do
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Language Access Services 1 activity
- Ensuring language access and cultural competence in service deliveryConducts needs assessments for Limited English Proficiency (LEP) individuals, hires bilingual staff, provides on-demand interpretation, translates key documents, and maintains multilingual website access. Also delivers language access and cultural competence training for all staff as part of onboarding and ongoing professional development.
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Industry and Community Recognition Awards 1 activity
- Hosting annual TruImpact Week events to promote economic empowermentOrganizes a week-long annual event featuring workshops, seminars, networking opportunities, case study presentations, and award ceremonies to highlight community development achievements and support business growth. The 2024 event was conducted with support from Regions Foundation and included the TruImpact Awards and Small Business Golf Tournament.
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Low-Income Home Energy Efficiency Upgrades 1 activity
- Operating specialized financing programs for sustainable development and energy efficiencyProvides targeted financing tools such as RAP Loans, predevelopment loans, and term loans for energy-efficient upgrades—including HVAC systems, solar installations, and low-emission vehicles—for real estate developers, contractors, and commercial operators in low-income communities. These programs are integrated with initiatives like the Resilience & Sustainability Fund and the Impact Developers Fund.
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Small Business and Nonprofit Lending 1 activity
- Providing affordable financing and lending services to small businesses and nonprofitsOffers a range of loan products—including small business loans, working capital loans, real estate acquisition financing, and New Markets Tax Credit investments—to financially viable small businesses and nonprofit organizations that lack access to traditional banking. Services are delivered in New York, Alabama, and Louisiana, with support for uses such as equipment purchase, leasehold improvements, expansion, and refinancing high-cost debt.
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Uncategorized 1 activity
- Funding community development projects through subsidiary investment fundsChannels capital through wholly owned subsidiaries—Empowerment Reinvestment Fund (ERF) and Tru-Capital Investment Fund LLC—to finance large-scale community development initiatives. This includes deploying a $7 million investment in the New Bangor YMCA and securing a $40 million allocation via the U.S. Treasury’s New Markets Tax Credit Program to stimulate economic growth in underserved areas.
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financials · form 990 · fy2024
revenue
Total revenue$16.33M
Contributions & grants$11.93M73%
Program service revenue$3.80M23%
Investment income$392K2%
Other revenue$216K
expenses
Total expenses$14.59M
Program expenses73%
Admin / overhead20%
Fundraising6%
Salaries & benefits$7.45M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$50.00M
Cash$19.01M
Investments$766K
Liabilities$31.19M
Net assets$18.81M
Liquid reserves16.3 mo
2 years on record · 2023–2024 · YoY revenue +36.1%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 10
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| JAMES BASON | PRESIDENT - CHIEF EXECUTIVE OFFICER | 35 | $414K |
| DOMONICA L EDWARDS | SENIOR VICE PRESIDENT | 35 | $222K |
| MICHAEL VAUGH | SVP - CHIEF CREDIT OFFICER | 35 | $219K |
| SETH MANOFF | SVP - DIR OF STRUCT LENDING & INVST | 35 | $214K |
| AKIMIE CARTER EVANS | SVP - MANAGING DIRECTOR NAT'L MARKET | 35 | $209K |
| MATHEW SHAPIRO | SVP DIRECTOR OF RESOURCE DEVELOPMENT | 35 | $207K |
| ROBERT BENITEZ | SVP - NATIONAL DIRECTOR OF LENDING | 35 | $205K |
| KENNETH HARVEY | SVP - INTERIM CFO - THROUGH NOV 2024 | 35 | $158K |
| CHARLES FOSTER | SVP- CFO - LEFT MAY 2024 | 35 | $102K |
| STEPHANIE KABORE TURQUIN | SVP - CFO - JOINED NOV 2024 | 35 | $22K |
board members · 15
- B SETH BRYANT — BOARD MEMBER - JOINED SEPT 2024
- CARMEN MANOYAN — BOARD MEMBER - LEFT JULY 2024
- CARRA WALLACE — BOARD MEMBER
- CELAYNE HILL — SECRETARY - LEFT JULY 2024
- CHARLOTTE LEE — CHAIRPERSON - LEFT JULY 2024
- CHERI MORIAL AUSBERRY — BOARD MEMBER
- DR ADRIAN FRANCO — BOARD MEMBER - LEFT FEBRUARY 2024
- GEORGE BUCHANAN III — BOARD MEMBER
- HEIDI HAMILTON — BOARD MEMBER
- JONNEL DORRIS — BOARD MEMBER - JOINED SEPT 2024
- KIMBERLY HARDY — BOARD MEMBER
- MARC THOMPSON JR — TREASURER
- MONICA BURCH — BOARD MEMBER - JOINED DEC 2024
- RONALD TOROK — BOARD MEMBER
- TERRENCE CLARK — CHAIRPERSON
relationships · 15
Who they work with
- Community Development Financial Institution (CDFI) Government — Certified Community Development Financial Institution (CDFI) supporting economic development in underserved communities.
- Georgia Hispanic Chamber of Commerce Partner — Partnered with RudHil Commercial, GHCC, and King of Prussia to support a development project.
- King of Prussia Partner — Collaborated with RudHil Commercial, Georgia Hispanic Chamber of Commerce, and TruFund Financial Services on a project.
- Regions Foundation Partner — Supported TruImpact Week 2024.
- RudHil Commercial Partner — Partnered with Georgia Hispanic Chamber of Commerce, TruFund Financial Services, and King of Prussia on a development initiative.
- SBA Partner — Administers the Community Advantage Program for small business financing.
- Scripps National News Partner — Media partner with which TruFund's CEO discussed the Southern Opportunity and Resilience Fund and support for underserved small businesses.
- TruFund Financial Services Partner — Organizes TruImpact Week to showcase impact on small businesses and community projects.
- U.S. Census Bureau Government — Uses data from the U.S. Census Bureau to identify Limited English Proficiency (LEP) populations and their language needs in service areas.
- US DOT Partner — Collaborates on the Short-term Loan Program for small businesses.
- community organizations Partner — Partners with community organizations that work with LEP populations to gather qualitative insights on language needs and co-develop outreach strategies.
- community partners Partner — Collaborates with community partners as represented on the board of directors
- community partners Partner — Collaborates with community partners to align financing and business assistance with neighborhood revitalization strategies.
- fellow financial institutions Partner — Engages with fellow financial institutions across service areas as board representatives
- local government agencies Government — Utilizes data from local government agencies such as health departments and school districts to understand language use and needs in the community.
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.
- Organization-Responsible Language Access 341 orgsmethodology: organization-responsible communication accessBy taking institutional responsibility for overcoming language barriers, the organization ensures equitable access to services, because placing the burden on Limited English Proficient individuals perpetuates exclusion and undermines service effectiveness.shared approach: Integrated, Culturally Affirming Care →
- Equitable Recovery Through Targeted Investment 109 orgsmethodology: equitable recovery investingBy directing capital and resources specifically to businesses in economically distressed areas and from historically underserved communities, the organization promotes equitable economic recovery and long-term wealth building, because targeted investment corrects systemic exclusion from traditional financial systems.shared approach: Integrated Support Model →
- Integrated Capital and Capacity Building 109 orgsmethodology: integrated capital and capacity buildingBy combining affordable financing with technical assistance, the organization reduces lending risk and increases business resilience among high-risk borrowers in underserved communities, because access to capital alone is insufficient for sustainable growth without accompanying capacity development.shared approach: Integrated Support Model →
- Place-Based Tailored Financial Assistance 109 orgsmethodology: place-based_tailored_financial_assistanceBy tailoring financial and technical services to the specific economic and regional context of each community, the organization increases program effectiveness and local impact, because standardized financial models fail to address the unique challenges of distressed or underserved areas.shared approach: Integrated Support Model →
- CDFI Model for Community Empowerment 4 orgsmethodology: cdfi_modelBy operating as a Community Development Financial Institution (CDFI), the organization channels innovative financial solutions to generate measurable community impact—such as job creation and revitalization—because dedicated mission-driven finance can serve markets systematically ignored by conventional banks.shared approach: CDFI-Powered Inclusion →