Jim Ferris will retire from the top leadership role at NeighborWorks Capital (NC) on October 1, 2022 after serving fifteen years as CEO. Jim has grown the organization enormously in terms of assets, staff, and products, while remaining tuned into the financing needs of the NeighborWorks network.
NC’s Board has formed a Search Committee which is led by the organization’s Board President, Jeanne Pinado, EVP at Collier’s International, and former long-term CEO at NeighborWorks’ affiliate, Madison Park Development Corporation. The Board is launching a national search for Jim’s successor with a search firm that has experience in the CDFI and /or affordable housing industries. Jim will stay through the fall of 2022 and be available to help with the transition to the new CEO.
NC is a capital corporation whose primary purpose is to provide appropriate capital to NeighborWorks Organizations (NWOs) to achieve their community development and affordable housing missions. NC has developed loan products for the entire arc of development, from Predevelopment through Permanent. NeighborWorks Capital’s customers are the approximately 130 NWOs in the real estate development line of business. On an annual basis, they produce or preserve over 8,000+ units of rental and for-sale homes and own and manage 170,000+ units of affordable multifamily housing.
NC is in a very sound position going forward, as reflected in its financial status as well as leadership on the staff and Board. NC has a strong balance sheet, sustainable operations, and an excellent track record of repayment by borrowers. NC is rated annually by Aeris, the CDFI rating organization, and was rated AA- as of December 2020. In addition to Jim, the organization benefits from the experience and skills of Dana Moore, Chief Financial Officer, Beth O’Leary, Chief Portfolio Officer, and Steve Peelor, Chief Lending Officer, and a total staff of 15. The Board includes leaders of NWOs, others with affordable housing expertise, and bankers. “NC has a seasoned team of professionals who are mission and solution focused. Their experience solves complex financing requests and provide technical assistance. I have been very fortunate to work with NeighborWorks America, investor partners, Board members, and other CDFIs during my tenure at NC. I look forward to seeing how the organization grows and evolves under the next CEO” said Jim Ferris, CEO.
“We are grateful for the many years that Jim invested in building NC and making it a key lender to the NeighborWorks network. His leadership earned the respect of many partners and investors. He will leave us with a firm foundation for future growth and impact,” reflected Jeanne Pinado, the Board President.
