News and Events Type: News

As part of our mission to empower Black CDFI CEO members, The Alliance’s Women-Led Initiative addresses the unique capacity building needs of our Black female CEO members who systemically face racial and gender resource inequities. Each newsletter we will highlight the successes of our Black female CEO members. Our next success story is from Stacy Rhone, President and CEO of BiGAUSTIN.

Founded in 1992, BiGAUSTIN is a non-profit organization dedicated to empowering the low-income and minority communities in Austin, Texas, through economic and community development. Initially a section within the City of Austin’s Department of Neighborhood Housing and Community Development, BiGAUSTIN’s impact grew significantly by 1995, leading it to become a separate agency better able to serve the Black community’s economic and community needs. 

Under Stacy’s leadership, BiGAUSTIN has achieved significant milestones including earning certifications as a Community Development Entity (CDE) and Community Development Financial Institution (CDFI), as well as distinctions as an SBA Lender and SBA Women’s Business Center. These accomplishments enable BiGAUSTIN to offer microlending, education, and training programs that support the growth of small businesses and encourage affordable housing initiatives. These programs allow BiGAUSTIN to help borrowers like Sue Spears change their lives and preserve their legacy.

To ensure that BiGAUSTIN remains competitive, Stacy joined the Alliance in 2021. The wealth of resources available, networking, and capacity-building opportunities for her and her team have been invaluable. Stacy’s experience at the Alliance’s 2023 Annual Meeting and Conference, inspired her to launch BiGAUSTIN’s Legacy program, designed to help African Americans maintain, renovate, and build property. The program works to prevent predatory development, reduce property taxes for aging residents, and provide property tax loans that can become reconstruction loans. Through this and other efforts, BiGAUSTIN continues to make a profound impact on the community. 

The Alliance is excited to see what Stacy and BiGAUSTIN do next.

To learn more about the Women-Led Initiative click here. 

Meet Nia Jones, the African American Alliance of CDFI CEOs’ dynamic Environment and Climate Director, affectionately known as the “Energy Queen.” Nia has been with the Alliance for just 90 days, but her enthusiasm and expertise make it feel like she’s been a part of the team for much longer. With a rich educational background and a passion for sustainable development, Nia is dedicated to advancing renewable energy and climate initiatives within marginalized communities.

Q&A with Nia Jones:

• How long have you been with the Alliance? Only 90 days but feels like half a year! 
• What is your educational background? My education journey started at McKinley Technology STEM High School where I studied biotechnology. After that, I attended Clark Atlanta University where I participated in the dual degree engineering program (DDEP) and studied interdisciplinary science with a minor in mathematics. After 3 years at CAU, I transferred to Northeastern University where I graduated with a BS industrial engineering with a minor in law & public policy. I obtained my MA from the University of California, Berkeley in the energy & resources group where I focused on engineering education, community engagement, and renewable energy technologies in low-income marginalized areas.
• What is your favorite thing to discuss when talking about energy and climate? My favorite things to discuss are all things renewable energy and sustainable development! Sustainable development is development that meets the needs of the current generation without compromising the needs of the future generations. For renewable energy offshore wind, enhanced geothermal, and agrivoltaics are essential for building our sustainable future. 
• What is your “calming down” song? My calming down song is “Don’t You Worry Bout a Thing” by Stevie Wonder.
• Where is your favorite place to vacation? My favorite vacation spot is Dubai! There is a lot to see and do so it makes traveling there exciting! 

Nia was also recently featured on the Wood Mackenzie Energy Gang podcast.In her interview, Nia discussed the critical importance of partnerships and cooperation among businesses, governments, and non-governmental organizations to advance the energy transition. She highlighted our organization’s ongoing efforts to deliver renewable energy to those who might not otherwise have access to it and the Justice Climate Fund.

Nia Jones’ journey and insights are a testament to her dedication to environmental sustainability and community empowerment. Her work with The Alliance is paving the way for innovative energy solutions and sustainable development. We’re excited to see the positive impact she will continue to make in the field. Thank you, Nia, for sharing your story and passion with us!

This week, we’re spotlighting Laudz Jean-Jacques, Sr. Program Director. Laudz has been with The Alliance for two years. In her role, she supports the Women-Led Initiative and African American Equity Impact Scorecard programs. Laudz brings over 8 years of experience from government and non-profit organizations working with Economic Development programs.

We talked to Laudz, and here’s what she shared with us about herself:

• What is your educational background? MBA,Marketing Strategy, Florida International University, BA, Interperonal/ Organizational Communication, University of Central Florida.

• What do you enjoy about working in the CDFI industry? My entire career has focused on improving economic opportunities in underserved communities. I enjoy working in the CDFI industry because it aligns with my core values and allows me to make a meaningful social impact. Contributing to economic justice and equity is incredibly rewarding, especially because the projects funded by CDFIs are catalytic in creating generational wealth. These initiatives not only transform communities but also empower individuals and families, making the work profoundly fulfilling.

• What are your go to binge-watching show(s)? I don’t enjoy binge watching TV, but below is a lis of what I’m currently watching : House of Dragons, Presumed Innocent, The Bear, Queenie.

• What is your favorite childhood memory? My favorite childhood memories are spending summers with family in Haiti. I always reminisce about the vibrant Haitian markets, filled with colorful art, lively music, and the best street food. I loved picking and eating the most delicious mangoes, coconuts, and avocados from our trees, feeding and chasing the chickens and goats in the backyard, enjoying fresh hot chocolate and Haitian sourdough bread for supper, and traveling to the countryside and beaches with my aunts and cousins. Carefree island living—it was a wonderful time.

We love having Laudz on the team. Her energy is contagious, and we can’t wait to see all the great things she continues to do!

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:

1. How long have you been with the Alliance? 3 years next month.
2. What is your educational background? B.S. Metallurgical Engineering and Materials Science, MBA and Doctoral Candidate in Ministry.
3. 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.
4. 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.
5. Can you share a fun fact about yourself? Fun? Hmmm. What is that? But seriously, I love escape rooms and solving mysteries.

We’re very lucky to have Eleanor on the team!

Roadmap Aims to Address Housing Justice for BIPOC Communities  

ORLANDO, FL – In recognition of National Homeownership Month, the African American Alliance of CDFI CEOs (The Alliance) unveils its pioneering Housing Initiative Roadmap, aimed at empowering BIPOC (Black, Indigenous, and People of Color) communities in their pursuit of housing justice. Developed with support from the Melville Charitable Trust (The Trust) and in collaboration with Cappelli Consulting, this comprehensive roadmap marks a significant milestone in our commitment to eradicate policies that perpetuate racial housing instability. 

The Housing Initiative Roadmap embodies The Alliance’s unwavering dedication to dismantling systemic barriers and fostering equitable, and inclusive housing opportunities. By providing Alliance members with comprehensive access to essential resources, tools, and strategies, we are catalyzing transformative change and advancing social equity in the housing sector. 

“Housing justice is fundamental to achieving true equity and inclusion,” said Lenwood V. Long, Sr., CEO of The Alliance. “Our Housing Initiative Roadmap is a testament to our collective determination to address the disparities facing BIPOC communities and ensure that every individual has access to safe, affordable, and dignified housing.” 

“The state of housing for Black America has been challenging. To help communities of color build generational wealth and repair the harms of structural racism, we must focus on housing stability. As community development financial institutions (CDFIs) we can play an important role in leveling the playing field,” said Donna Gambrell, Alliance Board Chair and President & CEO of Appalachian Community Capital. 

The Alliance Housing Initiative aims to overcome housing justice obstacles and change the narrative on housing in BIPOC communities. The goals of the Housing Initiative Roadmap include empowering members to advocate for anti-racist housing policy reform at the federal, state, and local levels, encouraging members to adopt best practices that increase housing opportunity and improve housing stability in Black and brown communities, and strengthening the capacity of members to develop, deliver, and evaluate effective anti-racist housing programs. 

“We cannot end homelessness without major investments in housing. This roadmap outlines key strategies to strengthen Black-led CDFIs and to accelerate the critical investments in advocacy and capacity needed to build a more equitable housing system,” said Alyia Gaskins, Senior Program Officer at the Melville Charitable Trust.  

“We cannot close the racial wealth gap and address the inequities without major interventions in the housing development system. To this end, we must strongly advocate for a housing system that centers the needs of BIPOC communities,” said Marshall Crawford, Alliance Board Member and President and CEO of The Housing Fund. “This roadmap is just the beginning of The Alliance and our partners efforts to create a more just housing system.”  

“Black-led CDFI’s are some of the most essential institutions driving resources and solutions to struggling communities most affected by disinvestment and economic exploitation across the country in both urban and rural America. Our organizations, however, are affected by many of the same policies that drive lack of resources and the wealth gap in the communities we serve.  This Roadmap establishes a strategic plan for the Alliance to advocate for and secure the policies and resources members need to help build thriving communities of color nationwide,” said Anthony Simpkins, Alliance member and President and Chief Executive Officer of Neighborhood Housing Services of Chicago, Inc. 

As we embark on this journey, The Alliance invites stakeholders, policymakers, and community members to join us in our collective pursuit of housing justice for all. Over the coming months, The Alliance will collaborate with leaders and advocates in the housing industry to deliver impactful housing programs to our members. Together, we can create a future where every individual, regardless of race or background, has access to safe, affordable, and stable housing. 

To learn more about the Alliance Housing Initiative Roadmap and get involved in our efforts, visit please visit  http://www.aaacdfi.org. 

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African American Alliance of CDFI CEOs  

The African American Alliance of CDFI CEOs, known as “The Alliance,” is a membership organization consisting of 79 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.    

Media Contact:  

Alisha Brown / African American Alliance of CDFI CEOs  

[email protected] / 901-849-0820  

The recent decision by the 11^th 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. 

The decision by Duke University to end scholarships for Black students and the University of North Carolina (UNC) at Chapel Hill Board of Trustees’ shortsighted move to cut DEI funding are not just isolated incidents—they are symptomatic of a larger, systemic problem. These actions threaten to roll back the progress we’ve made, undermine the principles of equality and justice, and perpetuate generations of injustice.  

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.” 

The Environmental Protection Agency has announced 60 selectees under the Greenhouse Gas Reduction Fund Solar for All grant competition as part of the President’s Investing in America agenda. This initiative aims to deliver solar energy to over 900,000 low-income and disadvantaged households nationwide, shining a light on a brighter, more sustainable future.

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.     

Media Contact:   

Alisha Brown  / [email protected] / 901-849-0820