Submitted by asoya on Mon, 10/04/2010 - 1:52pm
Craig Reigel Named Managing Director of Nonprofit Finance Fund Capital Partners
Reigel to Succeed Founder George Overholser in Leadership Transition
New York, NY – October 4, 2010 – Nonprofit Finance Fund (NFF) Capital Partners has named Craig Reigel as its new Managing Director, effective October 1, to succeed Founder and Managing Director, George Overholser. As part of the leadership transition, Overholser will be stepping down in order to pursue other avenues to advance social purpose organizations. According to Overholser, “Craig has been crucial to the program’s success, and possesses both the passion and thought leadership needed to guide NFF Capital Partners into a new chapter of the organization’s growth.”
Overholser joined NFF in 2006 to lead a start-up with three goals: to develop rigorous treatment for philanthropic equity; to witness $300 million in philanthropic equity placements, and to build an ongoing business to support such work into the future. Having successfully completed the initial goals, he will ramp down his formal involvement with NFF over the coming months, though future collaborations are anticipated. Details on the progress of philanthropic equity to date can be found in the recently released NFF Capital Partners’ performance report.
“When NFF Capital Partners first launched in 2006, we set out on an ambitious mission to translate well-known for-profit business techniques to the nonprofit sector, and to help organizations overcome the difficult challenges that even the best nonprofits face when they grow. We’ve learned a tremendous amount in applying these techniques, and I believe even more strongly in the importance and power of these practices. “
Reigel assumes management of the practice, having worked with NFF Capital Partners since its earliest days and serving as Partner since 2007. He brings with him a long history of solving the problems of growth in a diverse environment, as an entrepreneur, with Bain & Company (a consultancy), and as an investor. The core of his work with NFF has been serving nonprofit clients to help them attract and deploying philanthropic equity, substantially enhancing both program delivery and financial durability. Twice an alumnus of the University of North Carolina at Chapel Hill, he holds both a B.A. in Economics and an MBA from the Kenan-Flagler Business School.
“Working alongside the NFF team, we’ve proven that philanthropic equity can be a game-changer for nonprofits,” said Craig Reigel. “This is an exciting new era as NFF Capital Partners continues to guide nonprofits on the path to sustainable growth and change. My goal is to continue serving clients seeking philanthropic equity, catalyze change in policy and funder practice, and share the practice developed with clients amongst a broader nonprofit community.”
Clara Miller, Nonprofit Finance Fund’s President & CEO praised the NFF Capital Partners’ team. “George Overholser has made remarkable contributions to the social sector through his work and will continue to do so, and Craig is a top-notch successor. I look forward to working with him and our colleagues to take this important work to the next level.”
About Nonprofit Finance Fund
A national leader in social sector finance, Nonprofit Finance Fund connects money to mission success through consulting, innovation, and direct investment. Founded in 1980, NFF (www.nonprofitfinancefund.org) provides services that build the capacity and durability of nonprofits. A leading community development financial institution with over $80 million in assets, NFF has provided over $200 million in loans and access to additional financing via grants, tax credits and capital in support of over $1 billion in projects for nonprofit clients nationwide. NFF has a staff of more than 80 serving nonprofits nationally from offices in New York City, Philadelphia, Newark, Boston, Detroit, Washington, D.C., San Francisco, and Los Angeles.
Crystal Noble or Justin Ordman
Louder Than Words for Nonprofit Finance Fund