CLEARINGHOUSE CDFI MEDIA KIT

CLEARINGHOUSE CDFI MEDIA KIT
824,000
11,540 Jobs
Individuals Served
Annually
Created or Retained
WWW.CLEARINGHOUSECDFI.COM
TABLE OF CONTENTS
CLEARINGHOUSE CDFI HISTORY
3
LENDING PROGRAMS
4
EXECUTIVE MANAGEMENT BIOGRAPHIES
5
RECENT KEY PRESS RELEASES
7
RECENT KEY PRESS COVERAGE
8
CLEARINGHOUSE CDFI REPORTS
9
FREQUENTLY ASKED QUESTIONS
10
PRESS CONTACT
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CLEARINGHOUSE CDFI MEDIA KIT
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The History of
Clearinghouse CDFI
1998
1996
Clearinghouse CDFI
incorporates as a
for-profit corporation.
First private
placement offering for
Core lending
is issued.
2003
Certified as State CDFI
through COIN
Received first 0% deposit:
Chase Manhattan Bank,
$100,000
First offering closed: $1
million equity, $10 million
loan funds
Impact Milestone: 3,000
childcare spaces created
Third private placement offering for Core
lending is issued
Funded $63 million for
first-time homebuyers,
assisting 213 families
Impact Milestone: 1,500 affordable
housing units created
First single family home loan is funded
1999 - 2000
Second private placement offering
for Core lending is issued
Clearinghouse CDFI receives a
CDFI Fund Core Award: $2 million
First year of profitability three years ahead of schedule
1997
Certified as a Community
Development Financial Institution by
the U.S. Dept. of Treasury, CDFI Fund
First Investor closing: Coast Fed.
Bank, Southern CA Fed. Savings, CA
United Bank, Fullerton Savings
Fidelity Federal Bank becomes largest
investor: $200,000 equity,
$2 million loan funds
2009
2006
Awarded first New Markets Tax Credits
allocation: $56 million
Retained earnings exceed $5 million
Impact Milestone: 200,000
individuals served annually through
community development loans
Cumulative lending exceeds
$600 million
Cumulative lending
exceeds $350 million
Awarded fifth NMTC allocation:
$100 million
2004
2007
Core lending reaches $50 million
Core lending reaches
$100 million
Funded Market Creek Plaza - first
resident owned shopping center:
Wells Fargo CDC $15 million
NMTC investment
Cumulative lending exceeds
$100 million
2001 - 2002
Awarded the CDFI
Financial Performance
Award: Sponsored by
Wachovia Bank
Impact Milestone: 250
permanent jobs created
or retained
Second CDFI Fund Core
Award: $1.5 million
First loan funded in Santa Ana, CA
Clearinghouse CDFI
is named a Wachovia
NEXT Awards Finalist
Clearinghouse CDFI
opens Northern
California office
2010
Communities at Work Fund
Recipient: $13 million
Impact Milestone: 7,400
student spaces created
or retained
VISION
2014-2015
Clearinghouse CDFI opens new offices
in Los Angeles and Oakland.
Clearinghouse CDFI approved in
CDFI Bond Guaranteed Program and
awarded $100 million.
Clearinghouse CDFI exceeds $1 Billion
in total lending
Cumulative lending exceeds
$750 million
2005
2008
2011
2012-2013
Parent assets reach
$62 million
Awarded second NMTC
allocation: $75 million
Clearinghouse CDFI is
featured in Newsweek
magazine for success
and ethics in single
family lending
Clearinghouse CDFI
becomes the first
CDFI to borrow from
the Federal Home
Loan Bank
Clearinghouse
CDFI opens new
office in Nevada.
First use of NMTC funds
in for-sale affordable
housing project
Clearinghouse CDFI
creates $40 million CRA
Investment Fund
Fifth CDFI Fund Core
Award: $1.5 million
Issued first
shareholder dividend
Awarded fourth NMTC
allocation: $90 million
CLEARINGHOUSE COMMUNITY FINANCIAL INSTITUTION (CDFI)
Retained earnings
exceeds $10 million
Clearinghouse
CDFI lends $4.2
million for our first
project in Nevada.
First NMTC
transaction matures
Clearinghouse CDFI was founded in 1996 as a Community Development Financial Institution. The company is a for-profit CDFI with a geographic service area covering California, Nevada, Arizona and New
Mexico. Clearinghouse was capitalized through a series of three Private Placement Offerings which provided both equity and long term debt. Today our “core” loan portfolio totals approximatley $119 million as our
funding sources have expanded to include the Federal Home Loan Bank of San Francisco and recent approval to participate in the CDFI Bond Guarantee Program.
For more information, visit Clearinghouse CDFI’s website at www.clearinghousecdfi.com.
LENDING PROGRAMS
CORE LENDING
Clearinghouse CDFI provides community development loans for projects that create jobs and services,
strengthen communities, and improve lives. Projects financed include affordable housing, commercial
real estate, community facilities, and small business.
For more information, visit Clearinghouse CDFI’s website at
www.clearinghousecdfi.com/borrowing/community-loans/.
NEW MARKETS TAX CREDITS PROGRAM (NMTC)
On December 21, 2000, the Community Renewal Tax Relief Act of 2000 was signed into law. This
landmark legislation includes the New Markets Tax Credit program. Since that time, $36.5 billion has
been allocated for investment into Qualified Active Low-Income Businesses (QALICBs).
To date, Clearinghouse CDFI has become one of the largest participants in this program, with over
$430 million of NMTC allocation deployed throughout California and Nevada.
By making an equity investment through Clearinghouse CDFI, individual and corporate investors can
receive a New Markets Tax Credit worth 39% of the amount invested. Clearinghouse CDFI is then able
to use this investment to provide loans to businesses and nonprofits in low-income communities at
below-market rates.
Clearinghouse CDFI was awarded its first New Markets Tax Credit (NMTC) allocation in the
program’s 2002 inaugural round. Clearinghouse has subsequently received awards in seven of the ten
rounds, totaling $473 million. The company has maintained a stellar reputation throughout the New
Markets Tax Credit community by rapidly deploying its NMTC resources into impactful and
innovative projects into some of California and Nevada’s most distressed communities. Furthermore,
the team at Clearinghouse CDFI works diligently to provide excellent support for all of our NMTC
investors, lenders and partners.
For more information about the NMTC Program, visit Clearinghouse CDFI’s website at
www.clearinghousecdfi.com/borrowing/new-markets-tax-credits.
CDFI BOND GUARANTEE PROGRAM
Clearinghouse CDFI secured a $100 million bond from the U.S. Treasury’s CDFI Bond Guarantee
Program, which was enacted as part of the Small Business Jobs Act as an innovative federal credit
program that is designed to function at zero cost to taxpayers. It provides eligible CDFIs access to
long-term capital to encourage economic growth and development.
For more information about the CDFI Bond Guarantee Program, visit the CDFI Fund’s website
at www.cdfifund.gov/bond.
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EXECUTIVE MANAGEMENT BIOGRAPHIES
Douglas J. Bystry
President and Chief Executive Officer
As founder of Clearinghouse CDFI, Mr. Bystry has been involved
with all aspects of capital raising and deploying funds to borrowers
under our CDFI and NMTC lines of business. Mr. Bystry has over
25 years of experience raising and deploying capital to low-income
communities. Prior to starting Clearinghouse CDFI, Mr. Bystry was
Executive Director of Santa Ana Neighborhood Housing Services
and Executive Director of the Affordable Housing Clearinghouse,
our nonprofit community partner. He attracted over $200 million
in capital for these organizations. Mr. Bystry has deployed over $1
billion in capital into low-income communities throughout
his career.
Jay Harrison
Chief Investment Officer
Mr. Harrison manages Clearinghouse CDFI’s New Markets Tax
Credit (NMTC) program having successfully closed over $350
million in these transactions. Mr. Harrison also works to structure
and negotiate transactions with investors. He has successfully closed
over $200 million in debt and equity transactions with our
investment partners since joining the company in 2007.
Prior to joining Clearinghouse CDFI, Mr. Harrison spent over
twenty years in managerial positions in the regulated financial
services industry. Most recently he served as the SVP, Treasurer of
a six billion dollar, publicly traded financial institution where he
managed an investment portfolio of over $1 billion. Mr. Harrison
also managed over $2 billion of wholesale funding sources including
FHLB, State treasury programs and private repurchase agreements.
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Kristy Ollendorff
Director of Commercial Lending /
Chief Commercial Credit Officer
Ms. Ollendorff is involved with all aspects of lending in the
low-income communities we serve, including nonprofit technical
assistance, loan document negotiations, funding and post audits. In
addition, she works with loan servicing regarding all borrowers
experiencing payment difficulty and loan workouts.
With over 20 years of experience in underwriting both consumer
and commercial loans, Ms. Ollendorff is regarded as an expert in
underwriting community development loans. Prior to working for
Clearinghouse CDFI, Ms. Ollendorff had many years of experience in
management involving funding, operations and investor relations. Ms.
Ollendorff is currently President of Risk Management Association,
Orange County Chapter as well as serving on the Board of Directors of
El Sol Charter School.
Alan Orechwa
Chief Financial Officer
Mr. Orechwa has over 30 years of experience in the financial
industry. He has been actively involved in the growth and
development of Clearinghouse CDFI and Clearinghouse NMTC since
inception in 1996.
Mr. Orechwa began his career with KPMG Peat Marwick in 1975 and
was admitted as an Audit Partner in 1984. His clientele consisted
primarily of financial institutions. Mr. Orechwa then served in
executive management positions for several major financial institutions over the next 25 years, providing strategic leadership in the areas
of Internal Audit, Regulatory Compliance and Risk Management, and
Corporate Security. Mr. Orechwa serves on the Executive Committee
of the Junior Achievement of Southern California Board of Directors
and is a member of the AICPA.
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RECENT KEY PRESS RELEASES
Below are a few key Clearinghouse CDFI press releases. Visit Clearinghouse CDFI’s News and
Events for current media coverage.
August 20, 2014
Clearinghouse CDFI and Opportunity Finance Network
Close First Ever U.S. Treasury CDFI Bond
August 12, 2014
Clearinghouse CDFI Announces Partnership with New
Shareholder Plaza Bank
July 2, 2014
Clearinghouse CDFI Welcomes New Investor Nevada
State Bank
June 17, 2014
Clearinghouse CDFI Achieves B Corporation
Certification
October 1, 2013
Clearinghouse CDFI Approved in CDFI Bond Guarantee
Program Inaugural Round
April 24, 2013
Clearinghouse CDFI Awarded $80 Million New Markets
Tax Credit Allocation
$1.1 Billion
in Total Lending
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RECENT KEY PRESS COVERAGE
Below are a few key Clearinghouse CDFI and industry media coverage. Visit the News and
Events section of Clearinghouse CDFI’s website
September 1, 2014
Lake Forest Lender Taps Treasury on $100M Bond
Issue - Orange County Business Journal
August 25, 2014
California CDFI First Recipient of Guaranteed Treasury
Bond - SocialFunds.com
August 21, 2014
New CDFI Bond Program Funds Housing Affordable Housing Finance
August 20, 2014
Clearinghouse CDFI and Opportunity Finance Close First
Ever U.S. Treasury CDFI Bond - Bloomberg Businessweek
August 20, 2014
Lake Forest-Based Firm Receives $100M Bond from U.S.
Treasury - Patch.com
January 24, 2014
Community Development Financial Institutions Change
Lives - Wells Fargo Blog
5,000
Affordable Housing
Units Created
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CLEARINGHOUSE CDFI REPORTS
Below are a few Clearinghouse CDFI reports. Visit Clearinghouse CDFI’s Reports and
Publications for all reports.
2013 Annual and Impact Report
A comprehensive report on Clearinghouse CDFI’s operations and financial conditions in 2013.
2013 Audited Financials - Clearinghouse CDFI Companies
A complete report on Clearinghouse CDFI’s financial activities in 2013.
2013 Audited Financials - Clearinghouse NMTC, LLC
A complete report on Clearinghouse NMTC’s financial activities in 2013.
2013 Audited Financials - Clearinghouse CRA Investment Funds
A complete report on Clearinghouse CDFI’s CRA investment activities in 2013.
2013 Lending Analysis
A comprehensive report on Clearinghouse CDFI’s lending in 2013.
9.9 Million
$436 Million
Square Feet
Developed or Rehabilitated
in NMTC
Allocation Deployed
$826,000
14,440
Charitable
Contributions
CLEARINGHOUSE CDFI MEDIA KIT
Volunteer Hours
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FREQUENTLY ASKED QUESTIONS
1. What is Clearinghouse CDFI?
Clearinghouse Community Financial Institution (Clearinghouse CDFI) is a
community development lender serving California, Nevada, Arizona and New Mexico. We
bridge the financing gap between conventional lending standards and the needs of
distressed communities.
2. What makes you different from other lenders?
Because each of our borrowers’ projects is as different as the communities they serve, we don’t
use a predefined loan program. Instead, we assess each loan application differently. Projects
range from affordable housing to commercial real estate, but they all provide measurable
community benefit.
4. What types of financing do you offer?
• Affordable Multi-Family Housing
• Special Needs Housing
• Nonprofits
• Commercial Loans/Facilities
• Health Care Facilities
• Small Businesses
• Churches
• Charter School
• Economic Development/Community Revitalization
5. What other types of financing do you offer?
Clearinghouse CDFI also offers New Markets Tax Credits for qualifying projects.
6. How are New Markets Tax Credit projects different from other types of financing?
New Markets Tax Credit projects must be located in low- to moderate-income census tracts in
severely distressed areas, in addition to other criteria.
7. Are there any major projects Clearinghouse CDFI has been involved with that I might
have heard about?
We’ve been involved in the following projects including many more:
• Revitalization of the Port of Hueneme (Oxnard, CA)
• Creation of La Kretz Innovative Campus (Los Angeles, CA)
• Development of Monarch School, a school for homeless children (San Diego, CA)
• Construction of The Pier South Resort (Imperial Beach, CA)
• Expansion of the Culinary Training Academy (Las Vegas, NV)
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8. Where is your corporate office located?
23861 El Toro Road, Lake Forest, CA 92630
9. Do you have any other office locations?
Los Angeles Office
5870 Wilshire Blvd., 18th Floor
Los Angeles, CA 90036
Oakland Office
505 14th Street, Suite 900
Oakland, CA 94612
Nevada Office
2300 W. Sahara Avenue, Suite 1100
Las Vegas, NV 89102
10. Where can I learn more?
You can visit us at www.clearinghousecdfi.com.
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PRESS CONTACT
Media inquiries and interview requests may be directed to:
Alanna Smith
Marketing Production Manager
Clearinghouse CDFI
(949) 528-3287
[email protected]
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