Massie is One of 48 Professionals Nationwide Chosen for Second Year of Unique Professional Development Program
Initiative Developed ‘by CDFIs for CDFIs’ to Advance Opportunity Finance Expertise Nationwide
Denver, January 26, 2015 – Colorado Enterprise Fund (CEF) announced today that Opportunity Finance Network (OFN) and the Citi Foundation have selected Nick Massie, Director of Finance and Administration at CEF, as one of 48 community development financial institution (CDFI) professionals who will participate in the second annual Citi Leadership Program for Opportunity Finance. Developed by CDFIs for CDFIs, the unique industry-wide initiative launched in 2014 and prepares participants to lead transformational change, ensures strong leadership at all levels of the industry, and promotes leaders who represent the diverse communities that CDFIs serve.
As Director of Finance and Administration for CEF, Mr. Massie provides fiscal and administrative leadership in budgeting, auditing and compliance as well as in banking, funding and analysis. He manages internal processes including CEF’s loan processing, closing and servicing staff, as well as, relationships with external funding partners who contribute to a loan portfolio valued at $11 million. Prior to joining CEF in 2011, Mr. Massie spent eight years in commercial insurance operations management in Colorado and New York City. He earned his Master of Business Administration (MBA) degree from the University of Colorado, Boulder and followed his passion for entrepreneurship and finance relative to small business development at CEF, a nonprofit lender offering loans to new and existing businesses unable to access traditional bank financing in Colorado.
“We were very proud to hear Nick was chosen for this impressive training program to continue his growth as a leader in our CDFI industry,” said Ceyl Prinster, President and CEO of CEF. “Nick will gain so much from this experience and it will advance CEF’s ability to serve more small businesses in Colorado.”
Mr. Massie is among a group of emerging, mid-career, and executive level professionals from CDFIs in 20 states and the District of Columbia. These participants represent many CDFI types and focus areas, including affordable housing finance, small business and microenterprise, community facilities, and consumer finance. Visit ofn.org for a complete list of participants.
“The first year of the Citi Leadership Program was a resounding success, and we look forward to working with this next group of professionals,” said Mark Pinsky, President and CEO of OFN. “OFN welcomes these leaders to the program. Across the board, each selected participant demonstrates commitment to leading structural and systemic change in the opportunity finance industry. We are thankful for the Citi Foundation’s longstanding support of CDFIs and its dedication to developing talent, which will enable the industry to continue to raise the bar in how we serve low-income, lowwealth, and other disadvantaged communities.”
Beginning in January, the 2015 cohort will meet four times over eleven months and follow a curriculum that OFN developed with the Wharton School of Business of the University of Pennsylvania.
“When we have a strong roster of talented and dedicated professionals leading the CDFI industry, we have the potential to create a much deeper impact in the lowincome communities that CDFIs serve,” said Brandee McHale, Chief Operating Officer of the Citi Foundation. “This program enables individuals at all levels of their careers to create a road map for personal and professional success while thinking strategically about how to influence the opportunity finance industry for generations to come.”
About Colorado Enterprise Fund Founded in1976, CEF, independently or in partnership with other lending institutions, provides loans up to $500,000 to finance small businesses and start-ups that are unable to secure funding through traditional channels. With a mission to accelerate community prosperity by financing and supporting entrepreneurs and small businesses, CEF has provided close to $40 million in loans to more than 1500 businesses to help create or retain over 16,500 jobs in the state since 1990. More information on Colorado Enterprise Fund can be found at www.coloradoenterprisefund.org.
About Opportunity Finance Network OFN, the leading network of private financial institutions, creates growth that is good for communities, investors, individuals, and the economy. Members of OFN are community development financial institutions (CDFIs) that deliver responsible lending to help lowwealth and low-income communities join the economic mainstream. Through 2012, OFN’s Network originated more than $33.3 billion in financing in urban, rural, and Native communities, and financed development/rehab of 960,000 housing units, started or expanded nearly 94,000 business and microenterprises, and helped create or maintain nearly 600,000 jobs. More information is available at www.ofn.org.
About the Citi Foundation The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation’s “More than Philanthropy” approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. Additional information can be found at www.citifoundation.com.