About Us

Purpose of the Coalition

The Minnesota CDFI Coalition is a statewide coalition supporting the work of CDFIs with connections, learning, and collective advocacy to advance shared goals. The purpose and scope and goal of the coalition is to build the peer network and learning; support CDFIs in building their organizational capacity and leadership; elevate the visibility and impact of CDFIs in MN; and advocate for state policies and funding to benefit CDFIs and aggregate resources to expand CDFI lending.

The Coalition includes the 33 federally certified CDFIs in Minnesota and other mission-driven lenders. These CDFIs work in communities across the state with financing to support small businesses, housing development, home ownership, childcare, cooperatives, and nonprofit organizations. In addition to lending, CDFIs offer training and support for entrepreneurs, coops, home buyers, housing developers, child care and community service organizations, and individuals seeking stability and prosperity.

The CDFIs involved in the coalition know that by advocating for a greater flow of resources from state and local sources and more equitable policies and systems, the ultimate beneficiaries will be the communities that those CDFIs serve.

About the Coalition

The Minnesota CDFI Coalition formed in 2022, and formalized it’s bylaws and mission, vision, values in 2024.

Mission
To activate the collective superpowers of Minnesota CDFIs to achieve economic justice.

Vision
We envision healthy, connected CDFIs enabling everyone to live, own, and thrive in vibrant and equitable communities.

Values
Community Self-determination – Our organizations are rooted in and guided by the communities we have chosen to serve, which have understanding and agency about their needs and values.

Justice – Our organizations are vital to righting past wrongs and reimagining economic systems for a more just and equitable future.

Curiosity – We seek out and embrace new ideas and perspectives to catalyze change,with guidance from the communities we serve.

Collaboration – We expand opportunities and advocacy by bringing our valued communities together to create virtuous cycles of opportunity, growth, and community support.

Nursery children playing with teacher in the classroom

What is a CDFI?

Community Development Financial Institutions (CDFIs) are mission-based lenders that are dedicated to delivering affordable support and financing to communities who have historically been excluded from this support and financing. By investing in small businesses and start-ups, nonprofits, homeownership, and commercial and housing development opportunities, CDFIs spark economic prosperity for individuals and communities across the nation and on Tribal land.

As stated by the CDFI Fund, “CDFIs share a common goal of expanding economic opportunity in low-income communities by providing access to financial products and services for local residents and businesses.”

For more information about Community Development Financial Institutions, read What is a CDFI?

Outcomes of CDFI Lending Activities

Cumulative data 2005-2021

12,074

Small businesses and microenterprises financed

13,438

Consumers receiving loans

31,785

Housing units created

30,776

Education and childcare seats financed

Team

Kate Barr

Senior Advisor kate@mncdficoalition.org
Kate Barr advises nonprofits locally and nationally on strategy, finance, and governance as a speaker, author, and trainer. She currently serves as Senior Advisor for both the Minnesota CDFI Coalition and the national Nonprofit Financial Commons. Previously, she was the President and CEO of Propel Nonprofits, a Minnesota-based nonprofit whose mission is to fuel the impact and effectiveness of nonprofits with guidance, expertise, and capital. She joined Propel after serving as a bank executive and began her professional life as business manager of a performing arts nonprofit. She teaches courses on nonprofit governance and finance at the Humphrey School of Public Affairs at the University of Minnesota. She currently serves on the boards of directors of the Jerome Foundation and Center for Victims of Torture and the advisory board for Minnesota Bank & Trust.

Carl Swanson

Coalition Strategist carl@mncdficoalition.org
Carl Swanson is a strategic facilitator and a practical optimist with over 15 years of experience in the nonprofit, arts & culture, and entrepreneurship sectors. He is the founder of Cast Consulting, a firm focusing on strategy, communications, and creative work. Swanson has served as the Executive Director of the National Independent Venue Foundation, and as Associate Director at Springboard for the Arts. He has presented on leadership and community engagement for Americans for the Arts, the Minnesota Council of Nonprofits and others. He holds a BA in Studio Art from the University of Southern California and an MBA from the University of St. Thomas Opus College of Business.

Board

Brian Voerding

President Initiative Foundation
Brian is the president of the Initiative Foundation, which empowers residents to build prosperous rural communities and economies in Central Minnesota. He joined the Foundation in 2021 as vice president for inclusive entrepreneurship. Prior to joining the Foundation, Brian founded and served as executive director for Engage Winona, a social-change nonprofit creating equitable access, voice and power for community in southeast Minnesota. Brian also served as executive editor of the Winona Daily News for several years. In a previous life he was a traveling musician and writer. He is a lifelong Minnesotan who currently lives in the St. Cloud area.

Cristen Incitti

President and CEO Habitat for Humanity of Minnesota
Cristen joined Habitat Minnesota in January 2020. She is responsible for leading the strategic, financial, and administrative components of the organization, while stewarding the resources entrusted to Habitat Minnesota in a manner that supports our mission and advances affordable homeownership. Before joining Habitat Minnesota, Cristen was the Senior Director of Programs and Services at Twin Cities Habitat for Humanity and the Chief Operating Officer at Girl Scouts of Wisconsin – Badgerland Council. Cristen holds a B.A. in Mathematics from the University of Wisconsin – River Falls, a Masters in Higher Education & Student Affairs from the Ohio State University, and is a Real Estate Diversity Initiative Graduate through the Urban Land Institute.

Henry Jiménez

President and CEO Propel Nonprofits
Henry Jiménez is the President and CEO of Propel Nonprofits, a nonprofit Community Development Financial Institution that offers nonprofits access to capital and wrap around capacity building services. He has dedicated his academic and professional life to advocating for and advancing his community. Prior to joining Propel, Henry was the Executive Director and President of the Latino Economic Development Center (LEDC). In his tenure there, Henry has led successful efforts to build generational wealth, reimagine cultural corridors, and invest in all communities, particularly Latino, immigrant, and undocumented communities. Henry is a trustee on the board of the Women’s Foundation of Minnesota and is the founding president of the board of directors of COPAL (Comunidades Organizando el Poder y Acción Latina), a Twin Cities-based non-profit working to consolidate and activate the civic power of MN’s Latinos. Nationally, he serves on the boards of the Opportunity Finance Network (OFN) and National Association of Latino Community Asset Builders (NALCAB). He is a 2023 Bush Fellow, a program hosted by the Bush Foundation that supports accomplished leaders with extraordinary track records who are ready to take their efforts to the next level and have even greater impact with and across communities. Henry is originally from Las Vegas, NV and moved to Minnesota in 2008. He lives in Richfield with his wife and two young children.

Robyn Bipes-Timm

Chief Strategy and Operations Officer Twin Cities Habitat for Humanity
Robyn Bipes-Timm as Chief Strategy and Operations Officer leads Habitat’s strategic plans and special initiatives and aligns strategy with effective operations in finance, lending, people and culture, technology, and retail. She is President of Habitat’s nonprofit CDFI. Prior to Habitat, Robyn led statewide affordable rental and homeownership programs, financing, and lending at other CDFIs. Robyn is passionate about affordable housing and creative ways to bring equitable access to communities. She has a master’s degree in public policy from the Humphrey School, is a CDFI graduate of the Wharton School of Business, and holds MN mortgage originator and realtor licenses. She is on several boards and national housing groups, is co-creator of the Minnesota CDFI Coalition, and is outdoors whenever possible with her husband Jeff, young daughter Luci, and dog Tipsy

Renay Dossman

President and CEO Neighborhood Development Center (NDC)
Renay Dossman is the President and CEO of Neighborhood Development Center (NDC). Renay holds an extensive background in team leadership and community development, including a Master’s in Organizational Leadership from St. Mary’s University. Renay and her husband are the founders of Affirmation House, a nonprofit for unhoused men that provides housing and services to eliminate homelessness. In addition, she serves on the Destination Northside Committee and works with GroundBreak Coalition. She participates in the Anti-Racism and Economic Justice (AREJ) Trust and is an active member of the African American Alliance of CDFI CEOs. Renay also serves as a board member for Finnovation Lab, Build from Within Alliance, Constellation Fund and the MN CDFI Coalition.

LeeAnn Rasachak

CEO WomenVenture
LeeAnn Rasachak is CEO of WomenVenture, a Community Development Financial Institution (CDFI), US SBA designated Women’s Business Center, and non-profit serving women and minority entrepreneurs and business owners. Rasachak serves as the Board Chair of the Minnesota CDFI Coalition. In October 2021, Rasachak was named CEO of WomenVenture after serving on its Board of Directors for three years and 20 years working in the private sector for Fortune 1000 companies in Corporate Communications, Marketing, Digital, and Enterprise Strategy.

Elena Gaarder

CEO Minneapolis Consortium of Community Developers
Elena joined MCCD in May 2020 as the Chief Executive Officer. A trusted leader in the nonprofit community, Elena Gaarder is known for her holistic approach and ability to build successful partnerships that advance community wealth building. She currently serves on the Family Housing Fund Board of Directors, Ramsey County’s Economic Develop Vision Plan Steering Committee and the City of Lakes Community Land Trust’s Project Development Committee. Prior to coming to MCCD, she was the Director of Community Wealth Building at Nexus Community Partners. In 2015, Elena was awarded a Bush Leadership Fellowship, where she studied national and international cooperative economic models. She has also served as the Executive Director of several non-profit organizations and operated a successful consulting practice for 15 years. She holds a BS in Community Development and Urban Planning from St. Cloud State University and an MS in Community Economic Development from Southern New Hampshire University.

Julia Nelmark

President and CEO Midwest Minnesota Community Development Corporation
Julia Nelmark leads Midwest Minnesota Community Development Corporation (MMCDC), a mission-based lender and developer headquartered in Detroit Lakes, Minnesota, as well as the White Earth Investment Initiative (WEII), a Native CDFI subsidiary serving Native Americans on the White Earth Reservation and throughout Minnesota. MMCDC provides commercial, NMTC and mortgage lending, housing development and management, and through WEII lending and development services (free tax preparation, homebuyer education and financial counseling) focused on Native Americans in Minnesota. Prior to becoming president in 2018, Ms. Nelmark served as MMCDC’s Director of New Markets Tax Credit Financing for a number of years.