RAZA DEVELOPMENT FUND INC (EIN 521954196) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

MARY ANN DONOVAN

Phone

6024171400

Tax Period

2023-10-01 to 2024-09-30

RAZA DEVELOPMENT FUND INC, founded in 1996, is a mid-sized nonprofit in the Community Improvement sector that reported $25.7M in total revenue in fiscal year 2023. Expenses of $23.6M left a modest 8% surplus.

Mission

RDF IS A MISSION DRIVEN COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) DEDICATED TO UNLOCKING LASTING PROSPERITY IN COMMUNITIES ACROSS AMERICA. SINCE ITS FOUNDING IN 1999, RDF HAS PROVIDED RESPONSIBLE, ATTAINABLE FINANCIAL SOLUTIONS TO COMMUNITY-BASED ORGANIZATIONS WORKING IN HEALTH, EDUCATION, AFFORDABLE HOUSING, HOMEOWNERSHIP, ENTREPRENEURSHIP, AND COMMUNITY RESILIENCE. RDF IS ONE OF THE FEW CDFIS TO HOLD A PRESTIGIOUS AA- RATING FROM S&P, A REFLECTION OF ITS EXCEPTIONAL FINANCIAL STRENGTH AND IMPACT. TO DATE, RDF HAS INVESTED MORE THAN $1.6 BILLION ACROSS 38 STATES, LEVERAGING OVER $7 BILLION IN ADDITIONAL CAPITAL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,127,500

Program Service Revenue $20,997,840

Investment Income $3,192,211

Other Revenue $342,961

TOTAL REVENUE $25,660,512

Expense Breakdown

Grants Paid $1,210,000

Salaries & Benefits $7,167,491

Fundraising Expenses $120,748

Program Expenses $19,771,561

Other Expenses $15,237,823

TOTAL EXPENSES $23,615,314

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,660,512	$26,318,340	0.0%
Expenses	$23,615,314	$20,725,703	+0.1%
Net Income	$2,045,198	$5,592,637	-0.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,142,586

Total Directors

$1,318,414

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY ANN DONOVAN	PRESIDENT & CEO	40.00	Officer Director	$526,911	$53,814	$580,725
DANIEL ORTEGA	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
BRENDA LOYA	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KENNETH I TRUJILLO	SECRETARY (BEG 5/17/24)	1.00	Officer Director	$0	$0	$0
JOSEPH F REILLY	SECRETARY (THRU 5/16/24)	1.00	Officer Director	$0	$0	$0
AARON DOMINGUEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
DONNA GAMBRELL	BOARD MEMBER	1.00	Director	$0	$0	$0
LUIS GRANADOS	BOARD MEMBER	1.00	Director	$0	$0	$0
MARIA S SALINAS	BOARD MEMBER	1.00	Director	$0	$0	$0
J REYMUNDO OCANAS	BOARD MEMBER	1.00	Director	$0	$0	$0
JANET MURGUIA	BOARD MEMBER	1.00	Director	$0	$61,119	$737,689
ANTONIO LOPEZ	CHIEF FINANCIAL OFFICER	40.00	Officer	$227,229	$52,009	$279,238
MELISSA MCDONALD	CHIEF PEOPLE & OPERATIONS OFFICER	40.00	Officer	$327,428	$47,019	$374,447
DAVID CLOWER	EVP STRATEGIC INVEST (THRU 2/15/24)	40.00	Officer	$318,489	$58,878	$377,367
SCOTT RICHTER	CHIEF CREDIT OFFICER	40.00	Officer	$213,974	$37,717	$251,691
ADRIAN RUIZ	CHIEF INVESTMENT OFFICER	40.00	Officer	$227,493	$51,625	$279,118
ERIK HARTMAN	CHIEF IT OFFICER (BEG 5/13/24)	40.00	Officer	$0	$0	$0
JUAN MADRID	DEPUTY CFO & CONTROLLER	40.00	Highest	$210,291	$50,183	$260,474
PEDRO CHAVES	DEPUTY CHIEF CREDIT OFFICER	40.00	Highest	$164,998	$34,107	$199,105
AMANDA SANCHEZ	VP OF EDUCATION	40.00	Highest	$182,957	$47,937	$230,894
CATHERINE KES	SR DIRECTOR OF SPECIALTY FINANCE	40.00	Highest	$150,413	$33,632	$184,045
SIMA THAKKAR	SVP COMMUNITY INNOVATIONS	40.00	Highest	$150,021	$23,178	$173,199
RODRIGO VELA	FORMER CFO (THRU 6/30/23)	40.00		$381,866	$56,931	$438,797

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$25,660,512	$23,615,314	$363,067,878	$2,045,198
2023	$26,318,340	$20,725,703	$335,227,129	$5,592,637
2022	$48,137,884	$24,595,544	$296,838,353	$23,542,340
2021	$23,229,153	$16,701,198	$287,338,176	$6,527,955
2020	$19,838,701	$17,092,489	$267,668,702	$2,746,212
2019	$17,322,425	$16,665,600	$232,681,777	$656,825
2018	$17,305,775	$12,489,760	$210,608,320	$4,816,015

RAZA DEVELOPMENT FUND INC