WASHINGTON AREA COMMUNITY INVESTMENT FUND INC Charity Report

Public IRS 990 nonprofit record

WASHINGTON AREA COMMUNITY INVESTMENT FUND INC

EIN 54-1442466 · Health Care (E)

What they do

THE WASHINGTON AREA COMMUNITY INVESTMENT FUND (WACIF) is A NONPROFIT COMMUNITY LOAN FUND FOCUSED ON INCREASING EQUITY and ECONOMIC OPPORTUNITY IN THE WASHINGTON, DC AREAS UNDERSERVED COMMUNITIES. WACIFS MISSION is DRIVEN is DRIVEN BY THREE STRATEGIC PILLARS: INCLUSIVE ENTREPRENEURSHIP, COMMUNITY WEALTH BUILDING, and EQUITABLE ECONOMIC OPPORTUNITY, and is FULFILLED BY PROVIDING ACCESS to CAPITAL PRODUCTS and SERVICES, and CAPACITY BUILDING ADVISORY SERVICES to LOW- and MODERATE-INCOME ENTREPRENEURS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $64.40 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders26 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

99.36%of revenue went to mission work64.4% of expenses · Program services

27.74%of revenue went to fundraising18.0% of expenses

$95.72spent for every $100 of revenueRevenue covered expenses this year.

27.11%of revenue went to management and office costs17.6% of expenses

$1.80in assets for every $1 spent this yearSome assets cannot be spent right away.

45.3%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $233,491 for SHANNAN HERBERT (CHIEF EXECUTIVE OFFICER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$4,141,530

Mission workProgram services$4,114,90299.36% of revenue64.4% of expenses

ManagementOffice and general costs$1,122,62227.11% of revenue17.6% of expenses

FundraisingAsking for donations$1,148,93227.74% of revenue18.0% of expenses

Total expenses$6,386,456154.21% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 64.4% mission · 17.6% management · 18.0% fundraisingTotal expenses: 154.21% of revenue

2023Expense mix: 71.6% mission · 14.7% management · 13.7% fundraisingTotal expenses: 142.44% of revenue

2022Expense mix: 62.9% mission · 18.8% management · 18.3% fundraisingTotal expenses: 75.56% of revenue

2021Expense mix: 67.6% mission · 17.7% management · 14.7% fundraisingTotal expenses: 61.16% of revenue

2020Expense mix: 64.3% mission · 22.1% management · 13.6% fundraisingTotal expenses: 42.76% of revenue

2019Expense mix: 85.4% mission · 6.8% management · 7.8% fundraisingTotal expenses: 52.51% of revenue

2018Expense mix: 92.4% mission · 3.7% management · 3.8% fundraisingTotal expenses: 64.50% of revenue

2017Expense mix: 85.1% mission · 8.9% management · 6.0% fundraisingTotal expenses: 93.60% of revenue

Money in and money out

Revenue$6,672,318

Expenses$6,386,456

Annual surplus $285,862 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$4,114,902 · 64.4% of expenses

Management and office costs$1,122,622 · 17.6% of expenses

Fundraising$1,148,932 · 18.0% of expenses

See all reported dollar amounts

Revenue$6,672,318

Expenses$6,386,456

Assets$11,508,062

Income$6,672,318

Contributions$3,021,151

Mission work (program services)$4,114,902

Fundraising$1,148,932

Grants given$7,639,266

Average grant$96,700

Management and general$1,122,622

Stocks and bonds$239

Accounting fees$95,265

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

SHANNAN HERBERTCHIEF EXECUTIVE OFFICER · 40 hrs/week $233,491Base $209,947 · Other $23,544

MEGAN CARRASCHIEF DEVELOPMENT OFFICER · 40 hrs/week $191,252Base $181,790 · Other $9,462

KIMBERLY GAYLECHIEF PROGRAMS OFFICER · 40 hrs/week $188,023Base $168,027 · Other $19,996

SHAUNA YELDELLCHIEF LENDING OFFICER UNTIL 10/16/24 · 40 hrs/week $187,378Base $152,730 · Other $34,648

MESSAY DEREBEAAC GENERAL DIRECTOR · 30 hrs/week $161,686Base $146,736 · Other $14,950

SHERRY GUSTAFSONDIRECTOR OF FINANCE UNTIL 12/06/2024 · 40 hrs/week $159,483Base $142,806 · Other $16,677

JUNELL VENORDSENIOR HUMAN CAPITAL DIRECTOR · 40 hrs/week $156,887Base $143,488 · Other $13,399

KEVIN FRYATTCFOO & CO-INTERIM CEO UNTIL 5/3/24 · 40 hrs/week $94,825Base $82,837 · Other $11,988

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (26)

SHANNAN HERBERTCHIEF EXECUTIVE OFFICER

MEGAN CARRASCHIEF DEVELOPMENT OFFICER

KIMBERLY GAYLECHIEF PROGRAMS OFFICER

SHAUNA YELDELLCHIEF LENDING OFFICER UNTIL 10/16/24

MESSAY DEREBEAAC GENERAL DIRECTOR

SHERRY GUSTAFSONDIRECTOR OF FINANCE UNTIL 12/06/2024

JUNELL VENORDSENIOR HUMAN CAPITAL DIRECTOR

KEVIN FRYATTCFOO & CO-INTERIM CEO UNTIL 5/3/24

KLADE HARE NERSASIANBOARD MEMBER

ROBERT RIORDANBOARD VICE CHAIR

NORA DIAMOND-JONESSECRETARY

NANCY STARKBOARD CHAIR

MATTHIAS GLATTINGBOARD MEMBER

MARISA G FLOWERSBOARD MEMBER

MALACHI MCKINNEYBOARD MEMBER

MACEO CLARKBOARD MEMBER

ABIGAIL SUAREZBOARD MEMBER

JESSEL AMINBOARD MEMBER

EVAN PIEKARABOARD MEMBER

EMEKA MONEMEBOARD MEMBER

COURTNEY R SNOWDENBOARD MEMBER

COREY GRIFFINBOARD MEMBER

CARYLN MADDENBOARD MEMBER

BRIAN NAGENDRATREASURER

AQUIL STINSONBOARD MEMBER

ANDREA LONGTONBOARD MEMBER

About this charity

Recognized since: January 1988
Location: 2012 RHODE ISLAND AVE NE, WASHINGTON, DC 20018-2835
County: District of Columbia
In care of: % WASHINGTON COMMUNITY INV FUN
Primary officer: BRIAN NAGENDRA, CHIEF EXECUTIVE OFFICER

How to reach them

WebsiteVisit the charity’s website Emailcrcomplaints@treasury.gov Phone(202) 529-5505

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: MITCHELL & TITUS LLP
NTEE classification: Health Care (E)
IRS tax category: Health Care
Grant-giving organization: Yes