Capital Impact Partners’ Former Chief Operating Officer Named New Director of U.S. Department of Treasury’s CDFI Fund
Washington, DC (November 25, 2014) The U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today named Annie Donovan as its new Director. Ms. Donovan served as the Chief Operating Officer (COO) of Capital Impact Partners for more than eighteen years. As COO of Capital Impact, Ms. Donovan was responsible for leading the company’s efforts in community lending, technical assistance, strategy formation, product innovation and policy development.
“We at Capital Impact Partners couldn’t be more proud of Annie. Her leadership role in strategy and innovation helped Capital Impact rise to become one of the largest and strongest Community Development Financial Institutions in the nation,” said Terry Simonette, President and CEO of Capital Impact Partners. “Her dedication to community development and business acumen make her a perfect fit for the CDFI Fund.”
During Ms. Donovan’s tenure with Capital Impact from 1992-2012, the organization saw substantial growth and increased impact for underserved communities. Lending efforts reached $1.7 billion, supporting the creation of 35,000 units of affordable housing; 200,000 school seats for low-income children in high-quality charter schools; 3 million square feet of health center space that provides for more than 1 million patient visits annually; 9,000 units of affordable assisted living; healthy food retail in over 60 locations; and more than 26,000 jobs for low-income people.
Ms. Donovan’s leadership role in strategy and innovation has helped set the stage for Capital Impact’s impressive record of scaling social innovation. Some examples include: the Green House Project, which completely remakes the institutional nursing home environment into a warm, nurturing, small-scale home that cares for the whole person; Village to Village Network, a social enterprise that helps seniors age in community for as long as possible; Living Cities Integration Initiative, in which Capital Impact is the financial intermediary in an cross-sector effort to revitalize Detroit’s urban core; and, Cornerstone Partnership, a peer network that creates and preserves affordable homeownership for hard working Americans.
While at Capital Impact, Ms. Donovan also served as President of the New Markets Tax Credit Coalition, and sat on numerous boards and advisory committees. She published papers for the National Academy for Public Administration, the Federal Reserve Bank of San Francisco and the Federal Reserve Bank of Boston.###
About Capital Impact Partners
Capital Impact Partners transforms underserved communities into strong, vibrant places of opportunity for people at every stage of life. We deliver strategic financing, incubate new social programs and provide technical assistance to help ensure that low to moderate income individuals have access to quality health care and education, healthy foods, affordable housing and the ability to age with dignity. A nonprofit community development financial institution, Capital Impact Partners has disbursed more $2 billion to revitalize communities over the last 30 years. Headquartered in Arlington, VA, Capital Impact Partners operates nationally with local offices in Detroit, MI and Oakland, CA.