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The Development Fund is a 501 (c) (3) nonprofit organization established in 1963, with a mission of attracting private-sector capital for community purposes. The Development Fund pioneered and progressively refined a model for a collaborative financing intermediary. These financing intermediaries are self-sustaining vehicles that attract investments from financial institutions and corporations on a large scale.
To date, The Development Fund has created thirteen (13) such financing intermediaries in ten states around the country dedicated to a range of community activities, including affordable housing, brownfield redevelopment, small business financing, and economic development. In total, these programs have generated over $2.0 billion dollars in new private sector financing from more than 300 financial institutions and corporations nationally.