2026-05-15T23:27:25-04:00 2025-06-30 233022325 ZELENKOFSKE AXELROD LLC 210 TOLLGATE HILL ROAD GREENSBURG PA 15601 990 2024-07-01 232920364 PENNSYLVANIA CDFI NETWORK PENN 50 S 16TH STREET 17TH FLOOR PHILADELPHIA PA 19102 VARSOVIA FERNANDEZ CEO 7177256356 2026-05-15 false JARED C EWING P00596532 7248342151 2026-05-15 2024 2025-03-06 01:10:19Z VARSOVIA FERNANDEZ 50 S 16TH STREET 17TH FLOOR PHILADELPHIA PA 19102 19573243 false X WWW.PACDFINETWORK.ORG X 1997 PA THE PA CDFI NETWORK IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES OF PROVIDING INFORMATION, ADVICE AND NECESSARY FINANCIAL ASSISTANCE TO FEDERALLY-CERTIFIED (CONTINUED ON SCHEDULE O) 9 9 3 10 0 18205141 19521509 0 163628 51734 0 18368769 19573243 16626469 15766746 0 407221 418451 0 0 767047 505657 17800737 16690854 568032 2882389 4170892 4466187 2642929 55835 1527963 4410352 X THE PA CDFI NETWORK IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES OF PROVIDING INFORMATION, ADVICE AND NECESSARY FINANCIAL ASSISTANCE TO FEDERALLY-CERTIFIED (CONTINUED ON SCHEDULE O) false false 16475221 15766746 THE PA CDFI NETWORK COLLABORATES ON REGIONAL AND STATEWIDE INITIATIVES TO SUPPORT SMALL BUSINESSES. IT HAS THE CAPACITY TO ENGAGE WITH LARGE-SCALE FUNDERS, ALLOWING FOR THE DEPLOYMENT OF MORE RESOURCES TO A WIDER RANGE OF BUSINESS OWNERS THAN ANY ONE CDFI CAN SERVE. IN 2020-2021, THE NETWORK OBTAINED 249 MILLION FROM CARES ACT RESOURCES TO MANAGE STATE AND COUNTY-BASED PROGRAMS AND DELIVERED THE KEEP YOUR DOORS OPEN PROGRAM. AS A RESULT, 14,500 SMALL BUSINESSES RECEIVED RECOVERY GRANTS AND 57% OF THE FUNDS WENT TO BUSINESSES OWNED BY PEOPLE OF COLOR. (CONTINUED ON SCHEDULE O) 16475221 true true false false false false false false false false false false false false false true true false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false false 61 0 3 false false false false false false false false false false false false false false false X 9 9 false false false false false true true true true false false false true true false false true true false false X VARSOVIA FERNANDEZ 7177256356 50 S 16TH STREET 17TH FLOOR PHILADELPHIA PA 19102 DANIEL BETANCOURT CHAIRMAN 1.00 X X 215500 0 5985 VARSOVIA FERNANDEZ CEO 45.00 X 215500 0 5985 CHRIS HUDOCK 62025 SECRETARY 1.00 X X 0 0 0 IAN LAWRENCE 72024 ASST. SECRET 1.00 X X 0 0 0 LESLIE BENOLIEL TREASURER 1.00 X X 0 0 0 JAMES BURNETT VICE CHAIRMA 1.00 X X 0 0 0 MICHELE CLAPPER SECRETARY 1.00 X X 0 0 0 DAVID KAHLEY DIRECTOR 1.00 X 0 0 0 MARK MASTERSON SECOND VICE 1.00 X X 0 0 0 EVELYN SMALLS DIRECTOR 1.00 X 0 0 0 431000 11970 2 false true false 99000 18192509 1230000 19521509 51734 51734 19573243 51734 15766746 15766746 418451 337765 80686 433849 355850 77999 793 467 326 34717 34717 22897 3511 19386 11284 9882 1402 TRAINING AND DEVELOPMENT 2108 1000 1108 BANK FEES 9 9 16690854 16475221 215633 0 4126654 4421934 1644 1535 42594 42718 4170892 4466187 3158 4744 2639771 51091 2642929 55835 X 1421309 618658 106654 3791694 1527963 4410352 4170892 4466187 2882389 X false true X true true true X 287109761 13225029 17197243 18205141 19521509 355258683 287109761 13225029 17197243 18205141 19521509 355258683 355258683 16914 6891 215381 163628 51734 454548 355713231 0.99870 0.99880 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 19573243 19573243 19573243 16690854 16690854 16690854 SCHEDULE D, PAGE 3, PART X THE INTERNAL REVENUE SERVICE HAS DETERMINED THE PA CDFI NETWORK TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE AND FURTHER IS CLASSIFIED AS AN ORGANIZATION WHICH IS NOT A PRIVATE FOUNDATION. FURTHER, THE NETWORK ANNUALLY FILES A FORM 990 AS APPLICABLE. THE FORM FILED IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY FOR THREE YEARS AFTER IT IS FILED. MANAGEMENT ASSERTS THAT THEY HAVE NO UNCERTAIN TAX POSITIONS REQUIRING ESTABLISHMENT OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. true THE PROGRESS FUND 425 W PITTSBURGH ST GREENSBURG PA 15601 311598881 501C3 180447 TECHNICAL ASSISTANCE NEIGHBORHOOD COMMUNITY DEV FUND 3923 PERRYSVILLE AVE PITTSBURGH PA 15214 251855490 501C3 180447 TECHNICAL ASSISTANCE UNITED BANK OF PHILADELPHIA 30 S 15TH ST SUITE 1200 PHILADELPHIA PA 19102 232641659 501C3 84375 TECHNICAL ASSISTANCE THE ENTERPRISE CENTER DEV FUND 4548 MARKET ST PHILADELPHIA PA 19139 270022215 501C3 126597 TECHNICAL ASSISTANCE NEIGHBORHOOD PROGRESS FUND 1300 W LEHIGH AVENUE SUITE 100 PHILADELPHIA PA 19132 232850840 501C3 114375 TECHNICAL ASSISTANCE FINANTA 51 S DUKE ST SUITE 400 LANCASTER PA 17602 232689714 503C3 114375 TECHNICAL ASSISTANCE ENTERPRENEUR WORKS 1617 JFK BLVD SUITE 1506 PHILADELPHIA PA 19103 232996139 501C3 210447 TECHNICAL ASSISTANCE BRIDGEWAY CAPITAL 707 GRANT ST SUITE 1920 PITTSBURGH PA 15219 251635121 501C3 94375 TECHNICAL ASSISTANCE false false false false false false false false false DANIEL BETANCOURT CHAIRMAN 199500 16000 5985 221485 VARSOVIA FERNANDEZ CEO 199500 16000 5985 221485 FORM 990 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. FORM 990, PART III 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. FORM 990, PAGE 6, PART VI, LINE 7A 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 FORM 990, PAGE 6, PART VI, LINE 7B SEE RESPONSE TO 7A FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 15A 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. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE PROVIDED UPON REQUEST.