CDFI Fund Releases ACR Snapshot Reports for FY 2021 through 2023

CDFI Fund Releases ACR Snapshot Reports for FY 2021 through 2023

This month, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released a series of summary snapshot reports for the fiscal years (FYs) 2021, 2022, and 2023 Annual Certification and Data Collection Report (ACR) reporting cycles.

Community Development Financial Institutions (CDFIs) are required to submit an ACR on an annual basis within 90 days of the end of their organization's fiscal year. The ACR allows the CDFI Fund to annually assess CDFIs' compliance with CDFI Certification criteria and collect data that provides insights into the CDFI industry.

Submission of the ACR ensures CDFIs continue meeting the statutory and regulatory requirements of Certification. It provides the CDFI Fund with strong indicators regarding an organization's capacity and capability to remain accountable to the communities they serve and that they offer Financial Products and Services that are reflective of their community development mission.

The FY 2021, FY 2022, and FY 2023 ACR snapshot reports provide valuable insight into how CDFIs continue to play a vital role in providing Financial Products and Development Services to distressed communities and underserved populations. These reports highlight the continued growth and impact of CDFIs in fulfilling their mission to support economic development in underserved areas while ensuring organizational safety and soundness. They also serve as a tool for the CDFI Fund to identify trends, challenges, and opportunities within the CDFI sector, allowing stakeholders to better understand the ongoing efforts of CDFIs to build inclusive economies and foster sustainable growth in historically underinvested communities.

Key areas highlighted in the snapshot report include:

• CDFI composition, location and capacity;
• Business line and financial product portfolio activity;
• Target Market activity; and
• CDFI balance sheet information.

The FY 2021, FY 2022, and FY 2023 snapshot reports underscore the continued commitment of CDFIs to meet the ever-growing demand for capital and services in communities that need it most, while maintaining transparency and accountability through robust reporting and compliance measures.

For more detailed information on the ACR reporting process and the individual snapshot reports, please visit the related links below.

Related Links:

• CDFI Annual Certification and Data Collection Report: FY2021 Snapshot
• CDFI Annual Certification and Data Collection Report: FY2022 Snapshot
• CDFI Annual Certification and Data Collection Report: FY2023 Snapshot