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Home > About Us > History
Throughout business school and a career in banking, Contact Fund founder Mark Reed remained intrigued by his earlier work in community development. He believed community development corporations, social service organizations, and other neighborhood based economic development organizations provided low income individuals and families with real opportunities for self-sufficiency. A family business liquidity event in 2005 provided the capital to establish a loan fund dedicated to NYC nonprofits.

Using his capital as equity and borrowing against it from friends and family, Mark employed traditional credit analysis methods to lend to NYC nonprofit organizations. Use of debt requires a financial discipline that can foster a level of organizational sustainability.

Ultimately, Contact Fund is based on a very straightforward concept: private investors would be willing to invest their capital in local NYC neighborhoods while also receiving a financing return if there was a simple, low risk way to do it. Contact Fund is committed to fostering a community of private investors who share similar values.

Click here to find out how to join our investor community.

Since 2005, Contact Fund has raised more than $5 million in additional capital from individual investors. Contact Fund made its first loan to Acción - New York in 2005 and has since made 23 other loans. To date, Acción - New York, Asian Americans for Equality (AAFE) – Community Development Fund, Women's Housing and Economic Development Corporation, Local Initiatives Support Corporation NYC The Lantern Organization, Green City Force, and the Disability Opportunity Fund have repaid their loans in full.

In February 2013, Contact Fund and SeaChange Capital Partners formed an alliance to enable better access to mission-driven capital for New York City’s frontline nonprofits working in low income neighborhoods. Contact Fund’s portfolio, investors, and governance remain intact while SeaChange provides strategic and administrative support in executing Contact Fund’s plan. Together, SeaChange and Contact Fund have formed a second pool capital oriented to large foundations making Program-Related Investments in New York City.