This week we’re excited to spotlight our very own, Eleanor Reid!
Eleanor Reid is VP of Development at the African American Alliance of CDFI CEOs! With over 20 years of C-level consulting experience and a successful track record of raising over $30 million for CDFIs, Eleanor is a powerhouse in fundraising and relationship building.
Here are some fun facts about her:
How long have you been with the Alliance? 3 years next month.
What is your educational background? B.S. Metallurgical Engineering and Materials Science, MBA and Doctoral Candidate in Ministry.
What is your favorite memory working with the Alliance? I love that I get to tell the story of the Alliance, including its members and our work, while expressing with passion the need for continued support of our mission that in the end benefits all people in this nation, no matter their race.
If you followed your childhood dream, what would your current career be? I would continue to write books to help people recognize and fulfill their life purposes. Helping others in any way I can is what I love to do.
Can you share a fun fact about yourself? Fun? Hmmm. What is that? But seriously, I love escape rooms and solving mysteries.
It is with profound sadness and a heavy heart that we share the passing of Inez Long, President and CEO of the Black Business Investment Fund (BBIF) Florida, and a cherished board member and co-founder of the African American Alliance of CDFI CEOs. Inez dedicated her life to empowering Black and minority communities through economic development and support for minority-owned businesses.
Words cannot express the depth of our love and the profound sense of loss we feel. Inez leaves behind an unparalleled legacy of accomplishments through her leadership and unwavering service in advocating for CDFIs, especially Black-led CDFIs. Her impact on our community is immeasurable, and she will be truly missed.
Through her leadership at BBIF, Inez facilitated transformative changes, expanding access to capital, and creating opportunities for countless entrepreneurs. Her visionary initiatives, such as the establishment of a Community Development Corporation and raising significant funds through the New Markets Tax Credits program, have left a lasting impact on our communities.
In recognition of her exceptional contributions, Inez received the 2020 Ned Gramlich Lifetime Achievement Award for Responsible Finance, the highest individual honor in the CDFI industry. Her work continues to inspire and catalyze change, making her a true champion of economic empowerment.
We are deeply heartbroken by this loss and extend our heartfelt condolences to her family and loved ones. Inez’s legacy of empowerment and community development will live on, inspiring future generations to carry forward her mission.
Be Steadfast!
Lenwood V. Long, Sr.
CEO
African American Alliance of CDFI CEOs
Inez Long at the 2024 Alliance’s Annual Meeting & Conference
In a celebration brimming with blackness, beauty, and warmth, The Alliance held their second annual in-person conference in Chicago, IL, from June 12-15. The theme, “The Power of Us,” captured the essence of Black-led CDFIs and Associate members aspiring to become CDFIs uniting to overcome all obstacles and empower their communities by building wealth and providing capital and housing opportunities. Since its establishment, The Alliance has been a cornerstone for Black-led CDFI CEOs, offering capacity-building programs and resources to help them thrive.
This year’s three-day conference rallied the call to harness the potential within the underserved communities they serve. By focusing on collective strengths, experiences, and expertise, members strategized and implemented solutions together. Through engaging sessions, panel discussions, and networking opportunities, members fostered collaboration among visionary leaders, partners, and dedicated allies to celebrate Black excellence and create lasting impact.
We held sessions focused on housing, economic development, green lending, financial empowerment, and wealth creation within Black communities. Among them, we held a Greenhouse Gas Reduction Fund half-day workshop led by Trenton Allen from Sustainable Capital Advisors that included in-depth discussions and case studies that enhanced our members’ green lending initiatives.
Dynamic panel discussions, keynote speeches, and inspirational words from notable figures added to the experience, including:
Harold Pettigrew, CEO, Opportunity Finance Network
Amber Koonce, Assistant Counsel, NAACP Legal Defense Fund
Heather Parish, Founder and Principal Consultant, Strategies for Community Economic Development and Finance
Chris Womack, CEO, Southern Company
Katie Gailes, CEO, Katie Gailes & Company
Dariely Rodriguez, Deputy Chief Counsel, Lawyers’ Committee for Civil Rights Under Law
Priscilla Sims Brown, President, Amalgamated Bank
Michael Crooks, Global President, PaySoko Systems
Jordan Taylor, Director of Renewable Energy, Sustainable Capital Advisors
Trenton Allen, CEO, Sustainable Capital Advisors
Taylor Lavender, Launch Team Member, Justice Climate Fund
The conference concluded with an Awards Ceremony & Juneteenth Celebration Dinner and Harlem Nights Gala, where attendees dressed in roaring ’20s attire and enjoyed a violin selection with spectacular food. Several members were recognized for their remarkable contributions, embodying the Alliance’s mission to build capacity, power, and bridges.
Congratulations to the award recipients:
Innovation Excellence Award: Everett Sands
Financial Empowerment Award: Renay Dossman
Digital Innovation Award: Inez Long
Equity in Housing Award: Marshall Crawford
Small Business Champion Award: Hilda Kennedy
Climate Justice Award: Donna Gambrell
Community Impact Award: Arlo Washington
Lifetime Achievement Award: Donna Gambrell
Leadership was also surprised with awards to show appreciation for their dedication to The Alliance:
Good Trouble Award: Lenwood V. Long, Sr., Alliance CEO – An inaugural award to be presented each year at the Annual Meeting & Conference to a member or staff that embodies the tenets of this award.
Visionary Leadership Award: Amber Banks-Bond, Alliance President
We are grateful to all our members and allies for their attendance, and a special thank you to all of our sponsors for your support: Citi Bank, W.K. Kellogg Foundation, US Bank, NALCAB, AERIS, Goldman Sachs, MacArthur Foundation, FHL Bank Chicago, Amalgamated Bank, NCIF, PNC, the California Endowment, PaySoko Systems, McKinsey & Company, the Kresge Foundation, Fifth Third Bank, Key Environmental Consulting and Marie Bibbs.
The Alliance looks forward to continuing this impactful work at the 2025 Annual Meeting and Conference in Charleston, SC.
The recent decision by the 11th Circuit Courts to reverse the lower court’s ruling and block the Fearless Fund from issuing grants to Black women entrepreneurs is not just a legal setback – it is an outrage and a direct assault on economic justice and the fight against persistent racial and gender inequities in America.
Black entrepreneurs, especially Black women entrepreneurs, are the backbone of innovation and resilience in our economy. Yet, they continue to face barriers that limit their potential. In 2022, women-founded companies received a pitiful 1.9 percent of venture capital (VC) funds, and an abysmal 0.1 percent went to founders of color, according to McKinsey & Company. Programs like the Fearless Fund’s grant contest represent hope and opportunity for these entrepreneurs who have historically been denied access to the capital and resources needed to thrive in today’s business environment.
The group behind this attack on the Fearless Fund, has revealed its true motives: a desire to maintain inequality and crush the dreams of those daring to reach beyond imposed barriers. This court decision highlights a growing hostility towards Diversity, Equity, and Inclusion (DEI) initiatives.
We stand firmly with the Fearless Fund. We support Fearless Fund’s legal battle and will continue to champion the rights of Black entrepreneurs. DEI is not a trend, but a fundamental necessity for a just and equitable society. As Dr. Martin Luther King Jr. said, ‘Our lives begin to end the day we become silent about things that matter.’ We cannot be silent, as too much is at stake in the fight for equality and economic justice.
We hope that when this case is finally resolved, our justice system will rule on the side of equity, reaffirming the principles of fairness and inclusion. This fight is far from over, and we remain steadfast in our commitment to justice.
Be Steadfast!
Lenwood V. Long, Sr, Chief Executive Officer – African American Alliance of CDFI CEOs
When the U.S. Supreme Court effectively outlawed affirmative action in college admissions, colleges and universities felt the pressure to end race-based scholarships programs, and roll back diversity, equity, and inclusion (DEI) initiatives. Recent events have highlighted a stark reality: the fight for DEI is far from over. In fact, it’s under attack.
But in the face of adversity, we must stand firm and resolute. Now, is the time to double down on our commitment to DEI initiatives. We cannot afford to be complacent or passive observers in this struggle. We must be vocal advocates, tireless allies, and unwavering champions for change. We must educate ourselves on the history of DEI and fight for a better future. Our first research report, Navigating the Terrain for Diversity, Equity, and Inclusion presents practical recommendations for implementing effective strategies amidst the contemporary challenges posed by those who seek to undermine decades of progress.
DEI is not a buzzword or a box to check—it’s the moral imperative of our time. DEI is crucial for fostering a fair and just society and creating a world where everyone, regardless of their race, ethnicity, gender, sexual orientation, or socioeconomic background, has equal opportunities to thrive and succeed. It’s about building a community where diversity is celebrated, equity is the norm, and inclusion is non-negotiable.
Considering historical inequities and ongoing challenges to DEI initiatives, there is a critical need to mobilize collective efforts to cultivate inclusive environments and advance diversity and equity. As members, friends, and allies of The African American Alliance of CDFI CEOs, we have a responsibility—to ourselves, to each other, and to future generations—to uphold these values and fight for a better tomorrow. We must use our collective voice and influence to demand accountability, challenge injustice, and drive meaningful change.
Let us not be discouraged by setbacks or deterred by obstacles. Instead, let us be inspired by the courage and resilience of those who have come before us. Let us draw strength from our shared vision of a more just and equitable world. And let us recommit ourselves to the work that lies ahead, knowing that together, we can and will make a difference.
Dr. Martin Luther King Jr.’s voice still reminds us: “Our lives begin to end the day we become silent about the things that matter.”
Congratulations to two Alliance members and awardees:
Hope Enterprise Corporation (HEC) secured $93,670,000 in funding Arkansas Solar for All and $62,450,000 in funding for Mississippi Solar for All. HEC will utilize a multi-pronged approach to advance affordable and resilient solar energy access for low-income and disadvantaged communities.
Their innovative strategies include:
Developing a residential rooftop solar leasing market that ensures savings for every low-income household while enhancing the local solar installer ecosystem.
Implementing “Multifamily Behind-the-Meter Solar for Low-Income Tenants” in multifamily buildings to lower energy costs for low-income tenant households through strategic financial mechanisms and partnerships with local housing developers.
All strategies are built on the foundation of innovative financing, strategic partnerships, and HEC’s deep experience and expertise in serving disadvantaged communities.
Growth Opportunity Partners (Growth Opps) secured $156,120,000 to lead the Industrial Heartland Solar Coalition. Headquartered in Ohio, this coalition unites 31 communities across eight states, from the Midwest to the Rustbelt.
Led by Growth Opps, the coalition is dedicated to catalyzing a just and clean energy transition in America’s industrial heartland. Here’s what they plan to do:
The SFA (Solar Financing Assistance) program, centrally managed by Growth Opps and implemented locally by 18 coalition members, will drive significant household energy savings and cut greenhouse gas emissions.
They aim to empower communities through solar workforce development programs, enhancing skills and creating opportunities in the clean energy sector.
By mobilizing tax credits and SFA grant funds, the coalition plans to extend the benefits of residential rooftop solar installations to low- and moderate-income households.
Congratulations to the Hope Enterprise Corporation and Growth Opportunity Partners team for leading the way in sustainable and equitable energy solutions!
The Alliance to play key role in advancing environmental equity as a sub-awardee
ORLANDO, FL – The African American Alliance of CDFI CEOs (The Alliance) announced today that the Justice Climate Fund (JCF) has been awarded $940M as part of the Environmental Protection Agency’s (EPA) Clean Communities Investment Accelerator (CCIA), for which The Alliance will be a sub-awardee. As a founding member of the JCF representing over 78 Black-led Community Development Financial Institutions (CDFIs), the funds will play a crucial role in advancing The Alliance’s mission to fight for environmental equity and close the racial wealth gap.
“This monumental funding marks a significant milestone. It is a testament to the power of collective action and a clear signal that change is not only possible, but imminent. We congratulate the winners of both the National Clean Investment Fund (NCIF) and the CCIA and look forward to working with them on the important work ahead to ensure our members can access capital for the communities they serve,” said Lenwood V. Long, Sr., CEO at The Alliance and JCF Board Chair.
The JCF was established by the Community Builders of Color Coalition (CBCC), led by The Alliance, which represents a national network of 18 financial institutions and advocacy organizations with leaders of color at the helm. The CBCC launched JCF just last year with the goal of ensuring that historically disadvantaged communities across the United States can equitably benefit from the EPA’s Greenhouse Gas Reduction Fund and help eradicate the disproportionate impact of climate change in low-income communities.
To this day, JCF represents an extensive network of 1,016 CDFIs, encompassing 500 credit unions, 120 community banks, and 177 loan funds and community trade organizations led by African American, Latino, Asian, and Native American individuals. These entities are pivotal in providing essential financial services and support to disadvantaged communities.
“We are honored and humbled to be part of this transformative initiative. As we embark on this journey, our resolve is stronger than ever to leverage these resources for the betterment of our communities, ensuring that every voice is heard, and every dream is within reach,” added Long.
To learn more about the announcement from the EPA, click here.
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About the African American Alliance of CDFI CEOs
The African American Alliance of CDFI CEOs, known as “The Alliance,” is a membership organization consisting of 76 CEOs from Black-led Community Development Financial Institutions (CDFIs). These institutions include loan funds, credit unions, venture capital firms, and non-profit developers. Since its establishment in 2018, The Alliance’s extensive network has provided services across all 50 states and the District of Columbia. To learn more about The Alliance and its programs, please visit http://www.aaacdfi.org.
Recent legal developments continue to challenge Diversity, Equity, and Inclusion (DEI) initiatives. A notable example is the case in Texas where the Wisconsin Institute for Law & Liberty (WILL) secured a permanent injunction against the Minority Business Development Agency (MBDA). The lawsuit argued that the MBDA’s programming, which aims to support minority business enterprises, was racially discriminatory as it provided services based on race and ethnicity. This, they claimed, violated the Equal Protection Doctrine. The MBDA, created by the 2021 Infrastructure Act, supports businesses owned by individuals facing racial or ethnic prejudice or cultural bias. However, the court’s ruling emphasized that any racial classification by the government must be narrowly tailored to a compelling interest. This decision could have broader implications, potentially impacting other programs designed to assist socially or economically disadvantaged groups.
We strongly oppose the recent decision declaring MBDA’s programs unconstitutional. These programs are essential for addressing the systemic barriers and historical disadvantages that minority-owned businesses face. This is underscored by the harsh realities that only 29% of Black-owned businesses that apply for loans receive at least some portion of the requested amount, in stark contrast to 60% of white-owned businesses; that the credit denial rate for Black-owned businesses stands at a significantly higher 38%, compared to just 14% for their white-owned counterparts; and that loans granted to Black-owned businesses typically come with interest rates that are, on average, 1.4 percentage points higher than those offered to white-owned businesses.
By providing targeted support and resources to bridge these divides, MBDA’s initiatives foster a more equitable and diverse economic landscape. Stripping away these programs not only undermines our collective efforts towards inclusivity and equal opportunities for all entrepreneurs in underserved communities but also weakens the overall economy by stifling the growth and innovation that diverse businesses bring.
We beseech the Justice Department to appeal this decision. Unfortunately, contrary to the views of some, economic and education opportunities are not equal for people of color in America, underscored by the fact that minority-owned businesses are three times more likely to be denied traditional bank loans than non-minority businesses.
