Pennsylvania Cdfi Network

“Nominating committee procedures: board review tentative schedule to be considered by committee chair appoints nominating committee and chair determine status of current terms (vacancies due to term limits & members not running) call first nominating committee meeting to discuss process and timeline approve changes to bylaws, if necessary determine voting cdfis and designated voters announce nominations process opening to membership & election process dates solicit nominations to board create electronic survey announce nominations slate to membership, election window, and annual meeting date send voting survey to voting members (nc chair & consultant may adjust dates if necessary) voting ends and totals provided to nominating committee second nominating committee meeting to analyze results & certify results announce election results to nominees announce election results to membership via email share results at annual meeting of the membership board officers elections occur at the next meeting of the board of directors full board and officers announced in pa cdfi network regular newsletter and business journals changes to pa cdfi network website”

“SEE RESPONSE TO 7A”

“No review was or will be conducted.”

“Chair and treasurer perform a review of the ceo and share it with the board of directors. Board deliberates and if food review, then board grants a merit increase, a market adjustment, and a bonus based on accomplishments for the past year. The board approves the total compensation change, and chaire and treasurer meet with ceo to discuss compensation.”

“Governing documents are provided upon request.”

“990 amended to properly report officer benefits on part vii, and schedule j part ii that were mistakenly omitted from the original filing. In addition, the title of one board member was changed from first vice chair to second vice chair.”

“Part i and part iii organization's mission - continued: community development financial institutions (cdfis), small businesses, microenterprises and to educate the public as to the benefits of cdfis and microenterprises.”

“Line 4a - continued: in 2021, the network launched the grit fund, a program that provides resources to support expansion of the community development financial institutions (cdfis) serving the philadelphia region, to increase economic and ?nancial opportunities for black and brown-owned businesses. Since it has raised 28.6 million in debt capital and 5.6 million in charitable for technical assistance; the ?ve-year program has approved 578 loans and has helped 3,515 black and brown small businesses with technical assistance. In 2022, the network secured an additional 24 million for low-cost loans, grants, and technical assistance for cdfis to serve low-income neighborhoods small businesses. It launched the small business growth program and the barber and the beauty salon small business assistance programs. 4 million in technical assistance grants went to cdfis and 8.72 million was granted to barbers and beauty salons in pennsylvania. In 2023, the network secured a 45 million allocation from the pa ssbci program; a favorable cost-free allocation that allows cdfis to match bank dollars from the grit fund program with ssbci funds. It provided 13.1 million in low interest loans to low income and very small businesses across pennsylvania, for a total of 106 loans. In 2024, the network secured 20 million of american rescue plan act (arpa) funds through dced. Those funds were used for a combination of technical assistance and grants that were available statewide. A total of 10.5 million was disbursed to assist 1,082 historically disadvantaged businesses over 33 counties in pennsylvania. These funds helped businesses address adverse impacts of covid-19. The network also used 4 million for its cdfi members to provide technical assistance to historically disadvantaged businesses and partnered with other nonprofit agencies that assist historically disadvantaged small businesses.”