The CDFI Fund recently announced the Calendar Year (CY) 2023 New Markets Tax Credit (NMTC) allocations and awarded $5B in allocations to 104 Community Development Entities (CDEs). Through the NMTC program, the CDFI Fund provides tax credit authority to CDEs, which serve as financial intermediaries to place investments into businesses that meet NMTC program requirements in low-income communities.

Fund CI reviewed data on the past three funding rounds to better understand the geographic distribution of allocations as well as identify trends in successful applicants.

Fund CI entered this research with the observation that both the CDFI industry and the technologies that support them are changing. CDFIs continue to evolve new products and approaches to meeting their missions. But, in an ever-changing environment, how can CDFIs identify the best platform, or platforms, to meet their needs? To tackle this question, Fund CI conducted interviews with 15 technology providers to learn more about their platforms.