Opportunity Finance Network Honors Leaders in CDFI Sector
In a remarkable showcase of dedication and impact, the Opportunity Finance Network (OFN) recently launched its inaugural industry awards ceremony to celebrate exceptional leadership within the community development finance sector. These prestigious awards are set against the backdrop of OFN's annual conference, a key gathering for professionals and organizations invested in community development finance.
Acknowledging Impact and Innovation
The awards were presented to commend those who have made significant strides in enhancing community development finance. OFN recognized three organizations and two outstanding individuals for their relentless commitment and service to their communities, highlighting the importance of innovation and leadership in this sector. "The strength of our industry lies within our dedicated individuals, who are driven by the mission to create opportunities for every person and community," noted OFN President and CEO Harold Pettigrew.
Outstanding CDFI Award
The first honor, the Outstanding CDFI Award, went to Community Preservation Corporation (CPC). This recognition highlights CPC's exceptional contributions to community development, demonstrating profound impact, innovation, and leadership. This award symbolizes the determination and the transformative work that CPC has engaged in over the past 18 months, driving the CDFI industry forward.
Emerging Growth CDFI Award
Next was the Emerging Growth CDFI Award, bestowed upon Inclusive Action for the City, which has exhibited remarkable growth and engagement in its community over the past three years. Based in Los Angeles, this budding organization has illustrated how commitment to community can lead to impactful development and extensive outreach.
Spotlighting Leadership and Commitment
The Executive Leadership Award was awarded to Gustavo Lasala, President and CEO of PeopleFund in Austin, Texas. This recognition acknowledges his vision and perseverance in channeling capital into low-income communities, significantly enhancing access to finance for those underserved. Lasala's leadership underscores the critical role executives play in advancing community development finance.
Rising Star Award
Elissa Sangalli, President of Northern Initiatives, received the Rising Star Award for her outstanding contributions early in her career. This award recognizes Sangalli's promising trajectory and deep commitment to enhancing community well-being, illustrating her potential for future leadership within the sector.
Impact Awards Honoring Organizational Growth
The impact of organizations in this space was further celebrated with the Adina Abramowitz Impact Award for Organizational Growth and Change awarded to Coastal Enterprises, Inc. (CEI) from Brunswick, ME. This award resonates with the transformational principles championed by Adina, who had dedicated over 30 years to strengthening the capacity of CDFIs.
Additionally, posthumously awarded was the Ned Gramlich Lifetime Achievement Award for Responsible Finance to Adina Abramowitz. This honor represents the pinnacle of achievement within the CDFI landscape.
Justice Award for Community Commitment
In a special dedication to social and economic justice, the Justice Award was granted to LA Más, a nonprofit organization devoted to empowering working-class neighborhoods in Northeast Los Angeles. Their mission aligns with OFN’s core commitment to fostering social equity and justice through well-aligned capital.
Future Opportunities for Recognition
These awards embody the dedication and contributions that numerous individuals and organizations make in enhancing the CDFI sector and its impact on local communities. Moving forward, OFN is enthusiastic about expanding these awards to acknowledge continued excellence and community-focused efforts across the nation.
About Opportunity Finance Network
Opportunity Finance Network stands as a pillar of community development investment, overseeing over $1 billion in assets and collaborating with 450 community development financial institutions (CDFIs). These include a diverse range of organizations committed to providing affordable financial products and services to underserved communities. Since 1986, OFN’s impact has been monumental—originating over $110 billion in financing, creating millions of jobs, and supporting numerous businesses and housing projects throughout the country.
Frequently Asked Questions
What is the purpose of the Opportunity Finance Network awards?
The awards recognize outstanding contributions and leadership in the community development finance sector, highlighting innovation and impactful service.
Who received the Outstanding CDFI Award?
The Outstanding CDFI Award was awarded to Community Preservation Corporation for its exceptional community engagement and innovation.
What criteria define the Emerging Growth CDFI Award?
This award honors CDFIs that have demonstrated exceptional growth and service within their communities over the last three years.
What types of organizations can be nominated for these awards?
Organizations at various levels within the CDFI industry that have made a significant impact in their communities are eligible for nomination.
How long has Opportunity Finance Network been active?
OFN has been operational since 1986, advocating for community development and financial inclusion for nearly four decades.
