Nonprofit Finance Fund Head Clara Miller to Leave Post; Will Lead F.B. Heron Foundation

NEW YORK, Jan. 24, 2011 /PRNewswire/ -- Nonprofit Finance Fund (NFF) President and CEO Clara Miller will leave the organization to head New York's F.B. Heron Foundation on March 1. Longtime NFF board treasurer and former board chair Janet Thompson will serve as the organization's interim CEO.  Ms. Thompson will join NFF on February 8. A Committee of the NFF Board of Directors will lead the executive search for Ms. Miller's successor, which they expect to complete during the next 6 months.

Clara Miller founded Nonprofit Finance Fund from a spin-off of the New York Community Trust originally focused on energy conservation for nonprofits.  She built and has run Nonprofit Finance Fund for 30 years. The organization is a key financial resource for social sector organizations and their funders, helping thousands of them gain access to capital and improve their capacity to serve their communities. NFF is a federally certified Community Development Financial Institution (CDFI). Directly and with others, NFF has invested over $1.3 billion in nonprofits, including direct and off-balance-sheet lending, New Market Tax Credit transactions and various forms of philanthropic equity.  NFF also provides a range of financial advisory and training services to funders and social sector managers.

"I am proud of what NFF has achieved in helping nonprofits connect money to mission and am moving on to the next chapter in my career with complete confidence in NFF's smart and dedicated team as they chart future success," said Ms. Miller. "Beyond her substantial credentials, Janet Thompson knows NFF's people, culture, and business extremely well and is the ideal leader at this moment of transition."

Ms. Thompson is an expert in community development and has served on NFF's board for more than twenty years, including 13 years as board chair. She has a broad range of experience in nonprofit and financial management. Most recently, she was senior advisor at Morgan Stanley.  She worked at Citibank for more than 25 years and held a series of responsibilities focused on the bank's engagement in the community.  She completed her tenure at Citi as Corporate Director for Community Reinvestment. Ms. Thompson has taken leadership positions on multiple boards and committees within the sector, including Accion USA, American Youth Hostels (DC), Community Service Society and the Grameen Foundation (DC). 

"Clara is a tireless advocate for nonprofits and the people they serve, and she has changed the way that nonprofit organizations and the funders who support them think about money," said Ms. Thompson. "NFF has been building depth in senior leadership positions for years, and is well positioned to carry forward Clara's vision for a more durable nonprofit sector."

ABOUT NONPROFIT FINANCE FUND (www.nonprofitfinancefund.org)

Nonprofit Finance Fund (NFF) is a national leader in nonprofit, philanthropic and social enterprise finance. Founded in 1980, NFF provides loan financing, access to capital and direct advisory services that build the capacity and the financial health of nonprofits. A leading community development financial institution with over $80 million in assets, NFF has provided over $235 million in loans and access to additional financing via grants, tax credits and capital in support of over $1 billion in projects for thousands of nonprofit clients nationwide. NFF has a staff of more than 75 serving nonprofits nationally from offices in Philadelphia, New York City, Newark, New Jersey, Boston, Detroit, Washington, D.C., San Francisco, and Los Angeles.

SOURCE Nonprofit Finance Fund