Opportunity Finance Network Launches New Industry Awards to Recognize Exceptional CDFI Industry Leadership

Industry awards recognizing impact, innovation and leadership in community development finance were presented at OFN40, the nation's premiere CDFI convening

LOS ANGELES, Oct. 24, 2024 /PRNewswire/ -- Opportunity Finance Network, the nation's leading network and intermediary focused on community development investment, recognized three organizations and two individuals for significant contributions to the community development finance industry. The awards recognize innovation, leadership, and community impact. The inaugural awards were presented over the past three days at OFN's 40^th annual conference in Los Angeles.

"The strength of our industry is in our people, and our people show up every day motivated and driven by the mission to create opportunity for all," said OFN President and CEO Harold Pettigrew. "Each individual and organization recognized has made an incredible impact within the industry, and therefore to many families, small businesses, and individuals across the country. Congratulations to this year's awardees."

Community Preservation Corporation (CPC), based in New York, NY,was awarded the inaugural Outstanding CDFI Award, which recognizes a CDFI that has gone above and beyond within the last 18 months in serving their communities and driving the CDFI industry forward. CPC has demonstrated exceptional impact, innovation, and leadership.

Inclusive Action for the City, based in Los Angeles, CA,received the inaugural Emerging Growth CDFI Award, which honors a small or emerging CDFI that has demonstrated exceptional growth and service to their community over the last three years. Inclusive Action for the City has shown significant development and impactful community engagement.

Gustavo Lasala, President and CEO of PeopleFund, based in Austin, TX, received the inaugural Executive Leadership Award, which celebrates an outstanding executive leader within a CDFI who has demonstrated exceptional vision, perseverance, and leadership in driving capital in low-income communities.

Elissa Sangalli, President of Northern Initiatives, based in Marquette, MI, was awarded the inaugural Rising Star Award, which recognizes an emerging leader within a CDFI who has shown outstanding dedication and impact early in their career. Sangalli has made significant contributions, demonstrating strong potential for future leadership and a deep commitment to her community.

The inaugural Adina Abramowitz Impact Award for Organizational Growth and Change was awarded to Coastal Enterprises, Inc. (CEI), based in Brunswick, ME. This award honors a CDFI that embodies the transformational growth and change principles championed by Adina, while also honoring her extraordinary legacy of building the capacity of CDFIs for over 30 years. CEI has shown an exceptional ability to adapt and align its organization with community needs and industry standards, leading to profound and lasting impact.

Adina Abramowitz was awarded posthumously the Ned Gramlich Lifetime Achievement Award for Responsible Finance. The Gramlich award is the CDFI industry's highest individual honor.

Additionally, OFN presents the Justice Award each year to a nonprofit organization based in the conference location whose mission is consistent with OFN's core purpose of aligning capital with social and economic justice. The Justice Award was awarded to LA Más, a nonprofit with the mission to keep working class neighbors rooted in Northeast LA through cooperative systems and education and leadership development.

These prestigious awards honor those who have made a lasting impact on the CDFI industry and their communities. OFN is committed to increasing opportunities to recognize individuals and organizations within its network and plans to expand the awards in coming years as CDFI leaders and members continue to scale their impact across the nation.

About Opportunity Finance Network

Opportunity Finance Network (OFN) is the nation's leading network and intermediary focused on community development investment, managing over $1 billion in total assets and a membership of 450 community development financial institutions (CDFIs), which includes community development loan funds, credit unions, green banks, banks, minority depository institutions, and venture capital funds. Our network of CDFIs works to ensure communities underserved by mainstream finance have access to affordable, 0responsible financial products and services, with a deep focus on serving rural, urban, and Native communities across the United States. OFN is a trusted investment partner to the public, private, and philanthropic sectors – foundations, corporations, banks, government agencies, and others – and, for nearly 40 years, has helped partners invest in communities to catalyze change and create economic opportunities for all.

Since its founding in 1986, OFN members have originated over $110 billion in financing, helping to create or maintain more than 3 million jobs, start or expand more than 850,000 businesses and microenterprises, and support the development or rehabilitation of nearly 2.4 million housing units and more than 14,000 community facility projects.

SOURCE Opportunity Finance Network