New Certificate Program in Community Development Finance
Coming in Summer 2014
|The certificate program format consists|
of a two-week intensive (on campus) training
The Carsey Institute at the University of New Hampshire and Opportunity Finance Network are developing a new certificate program for practitioners that are interested in learning about the fundamentals of the opportunity finance industry. Opportunity Finance Network is the leading network of Community Development Financial Institutions (CDFIs) that deliver responsible lending to help low-wealth and low-income communities join the economic mainstream.
The primary goal of the certificate program is to develop the knowledge and capacity of both new entrants and experienced practitioners in the opportunity finance industry so that they can productively contribute to expanding their organizations' capacity and impact. A secondary goal of the program is to help match the supply and demand for new talent in the field by matching new entrants with organizations looking for talent with appropriate knowledge and skills.
To achieve these goals, the main objectives of the certificate program are to:
- Train participants on the history, business models, products and services, and players in the community development finance field.
- Expose participants to best practices and trends in community development finance, including issues related to strategy, operations, capitalization, management, financing, and impact.
- Inform participants about key policy issues impacting the opportunity finance field.
- Provide technical training on underwriting, portfolio, and financial analysis issues related to community development financing.
New or recent entrants into the field of opportunity finance including students, professionals changing careers, current employees of CDFIs, and other community development finance professionals who want to expand their knowledge of the fundamentals of the opportunity finance industry.
Two-week intensive (on campus) training with a variety of guest speakers and field trips. Participants may attend either or both weeks. Residential component in late June followed by monthly webinar series from July through December. The program will utilize case studies, group discussion teams, as well as experiential exercises and selected guest lecturers – all contributing to a unique and collaborative learning environment. The on-site sessions will be supplemented by field trips to local, award winning CDFIs (including New Hampshire Community Loan Fund, Boston Community Capital and CEI). The program will use state-of-the-art communication technologies to connect participants with each other and other professionals in the industry.
Cost: Tuition, room and board (on campus at UNH) is $4250 for the two week session, $2200 for one week. Participants may attend both weeks or one week (either week one or week 2) Some scholarship funds are available.
- History and mission of community development lending and investment. Current status of the field.
- The players in the community development finance field (CDFIs, investors, developers, government, etc.).
- An introduction to capital markets, how they work, primary and secondary markets.
- Changes and trends in the mainstream financial services industry and how they impact the low-income and low-wealth people and communities served by CDFIs.
- Models of community development finance, including CDFI types, i.e. community loan funds, credit unions, community development banks, community development venture capital. Examples of effective models of community development finance – case studies and speakers.
- Trends in community development finance, including issues related to strategy, operations, capitalization, management, financing, and impact.
- The role of government in community development finance including regulation, incentives (e.g. tax credits), programs, and direct financing through equity type financing and debt.
- CDFI Fund programs and certification (Bond Guarantee, New Markets Tax Credit, Financial Assistance, Technical Assistance)
- Target Markets/sectors served in Community Development Finance including Affordable Housing, Small Business, Microfinance, community facilities, consumer, and others.
- Impact measurement and evaluation including CDFI and efforts to evaluate the outcomes of CDFI activities and manage a double bottom line enterprise.
- Capitalization Strategies for depositories and non-depositories and the pros, cons, and differences –ranging from deposits, bank investments, program related investments, public investment, individual investors, religious institutions, pension funds, university endowments, government programs, and more.
- CDFI Infrastructure: The beginnings of the creation of industry wide infrastructure for CDFIs, including CARS™, CDFI loan servicers, Underwriting platforms, and others.
- Policy issues – review and analysis of state and federal program and policy issues affecting community development finance including current programs, regulatory issues, and connections to broader capital markets.
The second week of the program will focus on technical and financial skills.
- Portfolio Management –including definitions – portfolio – cost of capital – liquidity – interest spread –– diversification and its effects and more
- Risk Management – examines a range of risk issues from institutional risk (social, commercial, governance) to operational risks (credit, transaction, rapid growth, security) to financial management risks (liquidity, interest rate, subsidy dependence) to external risks (business environment, regulatory) to customer risks (market and personal risk.)
- Introduction to basic underwriting including, single and multi-family housing finance / Low-Income Housing Tax Credit, small business, community facilities.
- CDFI financial statement analysis
For more information contact:
- Current Faculty
- Rosemary Caron
- Andrew Conroy
- Mark Ducey
- Charlie French
- Kevin Gardner
- Curt Grimm
- John Halstead
- Joel Hartter
- William Kaschak
- Paul Kirshen
- Joe Lugalla
- William Maddocks
- Jolan Rivera
- Andy Rosenberg
- Thomas Safford
- Sanjeev Sharma
- Michael Swack
- Yusi Turell
- Stacy VanDeveer
- James Varn
- Cameron Wake
- Sally Ward
- Fiona Wilson
- Jillian Fitzsimmons
- Kalle Matso
- Robin Husslage
- Academic Departments
- Current Faculty
- Contact Us