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COMMUNITY FINANCE CORPORATION
TUCSON, AZ · EIN 860683138 · Form 990PF · FY2021 · NTEE T21 · Philanthropy & Grantmaking · Very Large (>$50M) · www.communityfinancecorp.org
revenue
$87.6M
expenses
$87.1M
net assets
$-64.4M
employees
—
profile · synthesized from sources

Community Finance Corporation (CFC) is a nonprofit that facilitates public-private partnerships to finance and develop infrastructure projects for government entities and nonprofits. They manage all aspects of project development, including design, construction, financing, operation, and maintenance. CFC also donates excess revenues to support educational and economic development organizations.

named programs · 3 · from sources

what they call their work

Charitable Giving
CFC donates excess revenues to nonprofit educational and economic development organizations, focusing on disadvantaged youth and advancing economic development.
Joel D. Valdez Scholarship
A scholarship fund established with The University of Arizona Foundation to honor Joel D. Valdez and support students, emphasizing hard work, dedication, and innovative thinking.
Public-Private Partnerships (P3)
CFC creates and manages innovative public-private partnerships for municipalities, state governments, and other jurisdictions to build major infrastructure projects such as fire stations, office buildings, and parking garages. This includes design, construction, financing, operation, and maintenance.
activities · 4 groups

what they do

  • Permanent Affordable Housing Development 1 activity
    • Developing workforce and affordable housing projects
      Develops workforce housing projects, such as the adaptive reuse of the former Avalon Hotel in Erie, PA into 197 studio units and commercial space, and a $41.7 million project in Miami Beach, FL providing 80 affordable units for first responders, artists, and public employees.
  • Public-Private Infrastructure Development 1 activity
    • Development of public infrastructure projects
      Developed over $1.5 billion in public infrastructure projects across the Western and Southwestern United States, including government office buildings, student housing, police and fire stations, and detention facilities. Projects include the Arizona Dept. of Administration Office Building, Taylor Place student housing at ASU, City of Oxnard Fire Station, and Clark County Detention Facility.
  • Youth Sports Participation Scholarships 1 activity
    • Financial support for education and economic development nonprofits
      Provided over $2 million in donations to nonprofit organizations focused on education and economic development, with a total of over $2.5 million donated to advance goals related to disadvantaged youth and economic development.
  • Uncategorized 5 activities
    • Developing public infrastructure projects
      Develops public infrastructure projects, including government office buildings, student housing, police facilities, and fire stations, across the Western and Southwestern United States, with over $1.9 billion in completed projects since 1991.
    • Facilitation of community use of developed spaces
      Facilitated the master leasing of 115 studio units to community businesses and educational organizations, expanding access to developed infrastructure for public benefit.
    • Providing grants and sponsorships for education and economic development
      Provides over $2.5 million in donations and sponsorships to nonprofit organizations, supporting initiatives like staffing for youth bike clubs, prizes and scholarships for science fairs, and general education and economic development goals.
    • Support for workforce and affordable housing development
      Contributed to the adaptive reuse of the former Avalon Hotel in Erie, PA into a workforce housing project with 197 studio units and 31,860 square feet of commercial/medical office space, and was instrumental in the development of a $41.7 million project in Miami Beach, FL that will deliver 80 affordable units for first responders, artists, public employees, and dorm space for the Miami City Ballet School.
    • Support for youth and community programs through grants and sponsorships
      Provided $25,000 to support staffing and operations for El Grupo’s Manzo Elementary Bike Club during the 2021-22 school year, serving nearly 40 youth riders, and sponsored prizes and scholarships for participants in the 2023 Southern Arizona Regional Science and Engineering Fair.
financials · form 990PF · fy2021
revenue
Total revenue$87.59M
Contributions & grants——
Program service revenue——
Investment income$900K1%
Other revenue—
expenses
Total expenses$87.07M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits—
Grants paid out$150K
balance sheet
Total assets$797.14M
Cash—
Investments—
Liabilities—
Net assets$-64.39M
3 years on record · 2019–2021 · YoY revenue +40.1%
leadership · form 990 part vii · fy2021

who runs it

board members · 1
  • KENNETH ABRAHAMS — BOARD MEMBER
relationships · 21

who they work with

  • BDFC Advisor Services, LLC Partner — CFC's advisor, a subsidiary of BDFC, has gained economic development experience and bond financing expertise.
  • Business Development Finance Corporation Partner — CFC's charitable roots go back to BDFC, which was chosen by the City of Tucson to issue bonds for the expansion of Tucson’s convention center.
  • City of Miami Beach Partner — Collaborated on the development of a workforce housing project in the Museum District and Collins Park neighborhood.
  • City of Miami Beach Partner — Partnered on a workforce housing development project.
  • El Grupo Partner — Partnered with El Grupo to support the Manzo Elementary Bike Club through financial contributions.
  • El Grupo Partner — Provided funding to support the Manzo Elementary Bike Club program.
  • Erie Downtown Development Corporation Partner — Master leased studio units in the Avalon Hotel project.
  • Flowing Wells Education Foundation Partner — Partner organization using CFC’s contribution to subsidize out-of-state field trips for students.
  • Fort Bend Epicenter Partner — Collaborated with Community Finance Corporation on the development of a community convention and event center.
  • Gannon University Partner — Master leased studio units in the Avalon Hotel project.
  • Hamot Health Foundation Partner — Master leased studio units in the Avalon Hotel project.
  • Miami City Ballet School Partner — The workforce housing development will include an entire floor dedicated to dorm rooms for the school.
  • Regional Health Services, Inc. Partner — Commercial tenant in the Avalon Hotel project.
  • SARSEF Partner — Partner organization receiving annual financial support for STEM education programs.
  • SARSEF Partner — Partnered to support the Southern Arizona Regional Science and Engineering Fair through sponsorship
  • SARSEF Partner — Provided annual contributions to support the Southern Arizona Regional Science and Engineering Fair.
  • Servitas Partner — Partnered on a workforce housing development project.
  • Servitas Partner — Partnered with Servitas and the City of Miami Beach on a workforce housing development project.
  • The University of Arizona Foundation Partner — Made a gift agreement with the foundation to establish a scholarship fund.
  • University of Arizona Foundation Partner — Established a gift agreement with the University of Arizona Foundation to honor Joel D. Valdez.
  • University of Pittsburgh Medical Center Partner — Regional Health Services, Inc. is an affiliate of the University of Pittsburgh Medical Center.