Governing Board

Carlton Jenkins, Chairman of the Board
Mary Tingerthal
Mark Willis
Robert Schall
Victor Elmore
Saurabh Narain


Carlton Jenkins
President
MJC Partners

MJC Partners is a Los Angeles headquartered Investment Banking firm providing advisory and M&A related services including buyer and seller representation and capital raising capabilities to the financial services industry with a particular focus on the community banking sector. The firm also has a Sports and Entertainment Group which provides marketing, public relations and off court/field advisory services primarily to Professional Athletes. Mr. Jenkins also serves as President of this growing division of the company.

Prior to joining MJC Partners in early 2017, Mr. Jenkins served as a Partner with The Yucaipa Companies for over 15 years. While at The Yucaipa Companies, a Los Angeles based Investment and Merchant Banking Firm that specializes in acquiring and operating companies in the retail, distribution, logistics, hospitality and food related sectors. Mr. Jenkins was primarily responsible for the management and oversight of the firms Impact Investing vehicles, The Yucaipa Corporate Initiatives Fund. Along with its related investment vehicles and through its portfolio of investments, this $750MM plus fund series provided equity and growth capital to high growth potential businesses located in or serving America’s underserved and ethnic populations. The fund series established in 2001 was largely funded by Institutional Investors and at its inception was one of the largest private equity vehicles in the country focused on improving the flow of capital to America’s emerging market business sector.

Prior to his partnership with The Yucaipa Companies, Jenkins was the founder, a 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.

back to top

Mary Tingerthal
Retired Commissioner
Minnesota Housing Finance Agency

Ms. Tingerthal served as Commissioner of the Minnesota Housing Finance Agency from 2011 to 2019, and currently provides consulting services to several housing organizations. Tingerthal brings both public and private sector experience, and deep understanding of the issues surrounding affordable housing development, preservation and finance.

Previously, Tingerthal was President of Capital Markets Companies for the Housing Partnership Network where she coordinated the work of the Housing Partnership Fund, a national CDFI that provides acquisition and predevelopment financing, and its charter school financing affiliate.

Tingerthal served as CEO of the National Equity Fund, and held senior management positions with GMAC Residential Funding, the City of Saint Paul, and the Community Reinvestment Fund. She chairs the board of Framework Homeownership, a national non-profit that serves first time homebuyers, and serves on the board of the National Housing Trust.

Tingerthal has extensive experience with the NMTC Program as she managed the NMTC business for Community Reinvestment Fund for six years.  During that time CRF received several large NMTC awards. She is currently a member of the NMTC advisory board for the US Bank CDE.

back to top

Robert Schall
Director and Founder
Self-Help Ventures Fund

Mr. Schall is a retired Senior Executive having worked over 45 years in the community development field. He helped to start and build Self-Help to become the nation’s largest community development financial institutions with assets under management of $4 billion. There he held a variety of senior position responsible for managing commercial lending, sustainable development programs, real estate development, capitalization, communications. In addition, he was President of Self-Help Ventures Fund for 33 years, Self-Help’s non-profit loan fund and real estate development arm. He retired in 2018 and now serves on Self-Help Ventures Fund Board of Directors and continues to consult to the community development investment industry.

Mr. Schall has trained and consulted with many domestic and international development finance institutions and has been a visiting lecturer at the University of North Carolina. Over his career he has served as a director of many local and national community development organizations, universities, and bank advisory boards. Previously he held positions as financial manager of a specialty food distributor, an Economic Development Specialist for North Carolina's Department of Community Development, and a Peace Corp volunteer in West Africa. Mr. Schall holds a B.A. from the University of Pittsburgh and a master’s degree in Regional Planning from the University of North Carolina.

back to top

Mark Willis
Senior Policy Fellow
New York University
Furman Center for Real Estate and Urban Policy

Mark Willis is the Senior Policy Fellow at the Furman Center, conducting research, writing, and speaking on such urban-related policy issues as affordable housing, housing finance reform, community development lending and investment, and the Community Reinvestment Act. Before joining the Center, Mark was a Visiting Scholar at the Ford Foundation, sharing his learnings and insights on working with government, community groups, and the financial services industry to stabilize and revitalized urban areas. Prior experience included 19 years in community development at JPMorgan Chase where he developed and oversaw the bank’s programs and products to help strengthen low- and moderate-income communities; six plus years for the City of New York in economic development, tax policy, and ultimately as Deputy Commissioner for Development at the Department of Housing Preservation and Development; and five years as an urban economist at the Federal Reserve Bank of New York.  Mark founded Chase’s Community Development Corporation and held a number of positions including President of the Chase Manhattan Foundation and Executive Vice President for Community Development.

In addition to NCIF Mark serves on a number of boards including the New York Housing Conference (treasurer), the National Housing Conference (research committee chair), the Greater Harlem Chamber of Commerce (executive committee), the Citizens Budget Commission (co-chair of the housing and economic development committee), the National Jazz Museum in Harlem (treasurer), and The Skyscraper Museum.  Previously he helped to found and co-chaired Housing First! in New York City, chaired the New York Community Investment Company and the Consumer Bankers Association’s Community Reinvestment Committee, and co-chaired Living Cities. Mr. Willis has also served as a member of the Bankers/Community Collaborative Council of the National Community Reinvestment Coalition. Mark teaches Housing and Community Development Policy at New York University’s Wagner School of Public Service. 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

back to top

Victor J. Elmore
President and CEO Texas Mezzanine Fund
 
Victor J. Elmore has been the President & CEO and a member of the Board of Directors of the Texas Mezzanine Fund (a statewide CDFI and CDE) since July, 2005.  Prior to these appointments, he had been TMF’s CFO since operations began in May, 1999.  Since inception, TMF has provided over $116 million in financing to over 100 Texas communities.  The firm has also leveraged an additional $341 million from banks and other lenders into its financing transactions.  Starting with 2008, TMF has submitted eleven NMTC applications, and received awards on nine for a total of $368 million in NMTC allocation.  Allocations has been deployed into thirty-one NMTC transactions throughout Texas plus seven internal NMTC loan pools.
 
Elmore serves on several business and civic boards of directors and advisory boards. Several of these boards include: the Texas Mezzanine Fund, the New Markets Tax Credit Coalition, Texas Community Capital, the VNA Foundation, the Sixth Floor Museum at Dealey Plaza (JFK Museum), and the State Fair of Texas.  Professional affiliations include the Texas Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the African American Alliance of CDFI CEO’s.
 
Elmore is a summa cum laude graduate of South Carolina State University earning a B.S. Degree in Business Administration, majoring in Accounting.  He also earned a Master’s Degree in Business Administration from Texas A & M-Commerce.  Elmore is a Certified Public Accountant (“CPA”) and a Chartered Global Management Accountant (“CGMA”).
 

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.

 

back to top