The African American Alliance of CDFI CEOs (AAACDFI) is a left-of-center racially focused membership organization focused on Black financial and community development through community development financial institutions (CDFIs). The organization works with the federal government on behalf of members to secure grant funding from the Department of Housing and Urban Development (HUD) and the Small Business Administration. The group was heavily involved in negotiations to receive funds from the Inflation Reduction Act that were allocated to housing development under the environmentalist Greenhouse Gas Reduction Fund (GGRF) initiative. In 2025, the Trump administration rescinded this funding, and as of September 2025 this recission has been upheld in court. ^{1  2  3}

Founding and History

The African American Alliance of CDFI CEOs was founded in 2021 as a membership organization for Black-led community development financial institutions to work together and pool resources for lobbying, research, training, and public relations purposes. The group grew rapidly after its founding, reporting over $8 million in assets and over $9 million in revenue in 2023. ^{4  5}

Financials

In 2023, the African American Alliance of CDFI CEOs reported $9,148,814 in revenue, of which $8,915,677 stemmed from contributions and grants, $232,885 from program service revenue, and $252 from investment income. It had $7,663,902 in expenses, of which $998,000 was distributed as grants, $2,111,103 spent on staff salaries and benefits, $179,877 in travel expenses, $189,897 on a membership retreat, and $3,755,927 in uncategorized professional fees. It did not report any government funding. ⁶

Organization Philosophy

The African American Alliance of CDFI CEOs advances a left-of-center approach to analyzing racial inequality influenced by critical race theory and seeks increased government spending for Black-focused policies and programs. It contends that funding for Black-led community development financial institutions should be increased. The group promotes an African American Equity Scorecard as a way for financial institutions to self-grade and to adjust their lending and investment behavior by adopting a “racial equity lens.” ^{1 7}

Projects and Initiatives

Community Builders of Color Coalition and the Greenhouse Gas Reduction Fund

Community Builders of Color Coalition is a left-of-center project led by the African American Alliance of CDFI CEOs, along with a number of other member organizations, that was formed for the purpose of facilitating the transfer of Greenhouse Gas Reduction Fund (GGRF) funding to minority lenders and community development organizations after the passage of the 2022 Inflation Reduction Act. The GGRF was allocated over $20 billion, much of it earmarked for housing development. The process of grant disbursement was controversial, with critics pointing to a lack of proper procedure and instances of conflict of interest. As a result, the Environmental Protection Agency (EPA) in the Trump administration rescinded these grants, which, as of September 2025 had been upheld by the judicial system. ^{3   2}

Housing, Capital, and Community Development

In addition to the Greenhouse Gas Reduction Fund, AAACDFI is involved in housing and small business sectors, working with the Department of Housing and Urban Development (HUD), the Small Business Administration, and federal programs such as the Community Advantage program to steer federal funding to women- and Black-owned and led businesses. It also seeks to increase access to financial capital in Black communities from government programs such as the Community Reinvestment Act and by increasing the amount of support provided to Black-led CDFIs. ¹

Justice Climate Fund

In 2023, AAACDFI formed the Justice Climate Fund, a private foundation that assists community lenders in securing funding for loans to underprivileged clients and left-of-center climate-investment projects. ⁸

Partner Organizations

The African American Alliance of CDFI CEOs lists partner organizations that assist its activities. These partners are generally financial and business institutions or charitable foundations. ⁹

As of 2025, its financial and business partners included Citi Bank’s Citi Foundation, Pacific Community Ventures, Capital One, Fifth Third Bank, JPMorgan Chase, Community Vision Capital and Consulting, Wells Fargo, PayPal, USBank, Charles Schwab Bank, Truist, and PNC Bank’s PNC Foundation. ⁹

Nonprofit partners include the Rockefeller Foundation, the Robert Wood Johnson Foundation, the W.K. Kellog Foundation, the Kresge Foundation, Tides, the Nathan Cummings Foundation, the Annie E. Casey Foundation, and the California Endowment. ⁹

Leadership

As of 2025, Lenwood V. Long, Sr. was serving as the CEO of the African American Alliance of CDFI CEOs, a position he had held since the group’s inception in 2021. Prior to joining AAACDFI, he spent several decades working in various financial and governmental positions, notably in North Carolina. ¹⁰

AAACDFI co-founder Inez Long was a president and CEO of the Black Business Investment Fund. Before passing away in 2024, Long had over 30 years of experience working with Black-led community and economic development projects. ¹¹

1. “Impact & Accountability.” African American Alliance of CDFI CEOs. Accessed September 18, 2025. https://aaacdfi.org/impact-accountability/.
2. Guillén, Alex. “Appeals Court Sides with EPA in Climate Grant Terminations Fight.” POLITICO. September 2, 2025. Accessed September 15, 2025. https://www.politico.com/news/2025/09/02/appeals-court-epa-climate-grant-00539926.
3. “Community Builders of Color Coalition.” African American Alliance of CDFI CEOs. Accessed September 15, 2025. https://aaacdfi.org/greenhouse-gas-reduction-fund/.
4. African American Alliance of CDFI CEOs. Return for an organization exempt from taxation (Form 990) 2023, Part I.
5. “Home.” African American Alliance of CDFI CEOs. Accessed September 18, 2025. https://aaacdfi.org/. 
6. African American Alliance of CDFI CEOs. Return for an organization exempt from taxation (Form 990) 2023, Part I, IX.
7. “African American Equity Impact Scorecard.” African American Alliance of CDFI CEOs. Accessed September 18, 2025. https://aaacdfi.org/impact-equity-scorecard/. 
8. “Community Builders of Color Coalition Announces New Fund to Invest in Climate Change Solutions for Low-Income Communities .” African American Alliance of CDFI CEOs, May 3, 2023. https://aaacdfi.org/blog/justice-climate-fund/.
9. “Partners.” African American Alliance of CDFI CEOs. Accessed September 17, 2025. https://aaacdfi.org/partners/. 
10. “Lenwood V. Long, Sr.” African American Alliance of CDFI CEOs. Accessed September 15, 2025. https://aaacdfi.org/staff/lenwood-v-long-sr/. 
11. “With Deep Sadness, We Announce the Passing of Our CEO, Inez Long, Our Forever Inspiring Visionary Leader.” BBIF. July 1, 2024. Accessed September 18, 2025. https://investors.bbif.com/post/with-deep-sadness-we-announce-the-passing-of-our-ceo-inez-long-our-forever-inspiring-visionary-le.