Governing Board

Carlton Jenkins, Chairman of the Board
David McGrady
Mary Tingerthal
Charles Van Loan
Al Lau
Mark Willis
Saurabh Narain


 

Carlton Jenkins
Partner
Yucaipa Corporate Initiative Fund

Yucaipa Funds is a Los Angeles, California-based private equity/merchant banking firm that specializes in acquiring and operating companies in the retail, distribution, logistics and technology areas. Their transactions are valued in excess of $30 billion dollars, with an annual gross return of 53%. The Fund was established in July 2001 to provide investment capital to historically underserved communities on a national level, focusing on opportunities for minority- and/or women-owned entrepreneurial firms.

Prior to his partnership in the Yucaipa Fund, Jenkins was the founder, principal organizer, president and CEO of Founder's National Bank of Los Angeles, California, the only African American-owned commercial bank in California, and west of the Mississippi River. Founders was opened in 1990, successful enough by 1993 to win a "Bank of the Year" award from Black Enterprise Magazine, and considered one of the most progressive and innovative financial services firms in the U.S. During his ownership of Founders, Jenkins increased the asset size from $45,000,000 to $110,000,000, and grew the bank from one branch to five, employing 125 people.

Upon leaving the Bank in 1999, and immediately prior to assuming his position with Yucaipa, Jenkins was a principal and CEO of OneNetNow.com, LLC, an Internet company specifically designed to cultivate proactively the African-American and Latino communities, which have been left behind in the digital revolution.

Jenkins is a nationally recognized expert on community economic development issues, and has been called upon to provide Senate and House testimony, as well as print and television commentary, on these issues. Jenkins was a mayoral appointee to the Los Angeles Local Development Corporation board of directors, and was selected by the mayor to serve as a member of the Los Angeles Development Reform Committee. He was a member of the Ad Hoc Committee for the development of the Los Angeles Community Development Bank, a non-depository financial institution created by Congress to work under the aegis of the City of Los Angeles. The bank provided debt, equity and mezzanine financing to businesses located in a federally designated empowerment zone.

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David McGrady
Vice Chairman
City First Bank of D.C.

David McGrady built the commercial lending side of the Center for Self Help, the second-largest development banking institution in the country. Subsequently, he assisted the Enterprise Foundation in planning its economic development activities beyond housing. He later established a national consulting practice in the design and implementation of development finance programs in urban and rural markets. As one of the leading NMTC experts in the country, McGrady was retained to lead NMTC work by the Ford and MacArthur Foundations, as well as by a broad range of CDFI and non-CDFI clients. In addition to his NMTC practitioner role as NCIF Chairman, he also serves as the principal for City First Capital, a first-round NMTC allocatee. A popular speaker at NMTC trainings and seminars across the country, McGrady participated in the preparation of several successful first- and second- round NMTC applications and is assisting several allocatees to implement NMTC strategies.

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Mary Tingerthal
Commissioner
Minnesota Housing Finance Agency

Mary Tingerthal was appointed Commissioner of Minnesota Housing Finance Agency by Governor Mark Dayton on January 21, 2011. Ms. Tingerthal brings both public and private sector experience, and deep understanding of the issues surrounding affordable housing development, preservation and finance.

Most recently, Ms. Tingerthal was President of Capital Markets Companies for the Housing Partnership Network, where she coordinated the work of the Housing Partnership Fund, which provides acquisition and predevelopment financing; Housing Partnership Ventures, which serves as the Network’s investment vehicle; the Charter School Financing Partnership, a new conduit for charter school loans; and the Network’s housing counseling intermediary and neighborhood stabilization programs.

In 2008, she was instrumental in establishing the National Community Stabilization Trust -- a nationwide company dedicated to helping local organizations put vacant and foreclosed properties back into productive reuse. Prior to that, Ms. Tingerthal held senior management positions with the National Equity Fund, GMAC Residential Funding, the City of Saint Paul, and the Community Reinvestment Fund. She first worked for the agency in the late 1970s when she spent 10 years working with Minnesota Housing’s home improvement division.

Ms. Tingerthal holds a Master’s Degree in Business from Stanford Graduate School of Business, and a Bachelor of Arts Degree from the University of Minnesota. She serves as the vice chair of the Consumer Advisory Council to the Federal Reserve Board and serves on the Boards of the National Housing Trust, the National Community Investment Fund, and on the investment committee of the Calvert Foundation.

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Charles Van Loan
Director
Independent Bank Corporation, Michigan

Independent Bank is an approximately $3 billion bank with over 100 offices throughout lower Michigan where Chuck serves as a Director of the Board. He served as the President and CEO of the bank between 1993 and 2004 and as Executive Chairman during 2005. He was named "Banker of the Year" by Michigan Bankers Association in 2006 and has been very active in the association and many other civic groups. He served on the board of the Federal Home Loan Bank board of Indianapolis and is now on the board of Northern Initiatives, a ShoreBank affiliate in Marquette, Michigan. Chuck was born and raised in South Dakota and is a graduate of the University of South Dakota.

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Al Lau
Director and Founder
First American International Bank

Al Lau is currently retired and a Director at First American International Bank (FAIB), a CDFI Bank in New York City. Previously he was President and CEO of FAIB and a key founder of the bank. He has over 30 years of experience in banking. As senior executive at Citibank he managed large branch networks and business and consumer loan portfolios. He served as President of Citibank-Maryland and Capital One, FSB. He is a Columbia University graduate with a BS in Engineering and an MBA.

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Mark Willis
Executive Director and Resident Research Fellow
New York University
Furman Center for Real Estate and Urban Policy

Mark Willis is Executive Director and Resident Research Fellow at the Furman Center. Before joining the Center, Mark was a Visiting Scholar at the Ford Foundation, working on research related to community development and the financial services sector. Prior to his time at Ford, Mark spent 19 years at JPMorgan Chase, overseeing its community development programs and products to help strengthen low- and moderate-income communities. Among his many accomplishments there, Mark founded the Chase Community Development Corporation. Before joining Chase, Mark held various positions in economic development and tax policy with the City of New York, including Deputy Commissioner for Development at the Department of Housing Preservation and Development, and worked as an urban economist at the Federal Reserve Bank of New York.

Mark co-chairs Housing First! in New York City and has previously chaired the New York Community Investment Company and the Consumer Bankers Association’s Community Reinvestment Committee, and co-chaired Living Cities: The National Community Development Initiative. Mr. Willis has also served as a member of the Bankers/Community Collaborative Council of the National Community Reinvestment Coalition. He currently serves on a number of boards, including the executive committees of the Center for Housing Policy and the Greater Harlem Chamber of Commerce as well as the advisory board of the Office of Financial Empowerment of the NYC Department of Consumer Affairs. Mark teaches Housing and Community Development Policy jointly at New York University’s Law and Wagner schools. He has a B.A. degree in economics from Yale University, a J.D. degree from Harvard Law School, and a Ph.D. degree in urban economics and industrial organization from Yale University.

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Saurabh Narain
President and Chief Executive
National Community Investment Fund

Saurabh Narain joined NCIF in 2003, and, under his leadership, the fund has become the largest equity investor (in numbers) in CDFI Banks in the country, grown assets under management to $228 million (including $206 million in NMTC allocations) and pioneered the development of NCIF’s Social Performance Metrics.

He is involved in policy and advocacy for the industry through his board positions in the CDFI Coalition and memberships with the Federal Reserve Board’s Consumer Advisory Council (2008-10) and the Minority Depository Institutions Advisory Council of the Officer of Thrift Supervision (2009-11). NCIF is also a member of the Investors Council of the Global Impact Investing Network and the Strategy and Adoption Committee of the Impact Rating and Investing System led by the Rockefeller Foundation.

Prior to NCIF, he has had extensive experience in capital markets and risk management having worked at Bank of America for almost 17 years based in Asia and the US. Towards the end of his tenure in Hong Kong, he was Head of Marketing, Non-Japan Asia for Global Derivative Products. He has done business in almost 10 countries in Asia/US dealing with financial institutions, global multinational corporations and governments.

He is interested in inclusive finance and the microfinance movement in India. He is a member of the Steering Committee of the Professional Risk Managers’ International Association, Chicago Chapter and is a regular speaker in industry conferences.

Saurabh is a graduate of the ABA Graduate Stonier School of Banking (2007), and holds an MBA from Indian Institute of Management in Ahmedabad (1985), and a Bachelors of Arts (Honors) in Economics from St. Stephens College, University of Delhi (1983), India.

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