Brewing up new ideas to put into practice, 2001 was a year of proactive stimulation for CFED. Furthering research initiatives like the American Dream Demonstration, CFED continued to vigorously explore the efficacy and economic impact of new polices and procedures in order to identify promising ideas.

1. Corporation for Enterprise Development s s s 2001 annual report

2. cfed mission
The Corporation for Enterprise Development fosters
widely shared and sustainable economic well-being by
promoting asset-building and economic opportunity strategies—
primarily in low-income and distressed communities—that
bring together community practice, public policy, and private
markets in new and effective ways.
cfed vision
The Corporation for Enterprise Development envisions widely
shared, sustainable economic well-being in an inclusive,
productive economy where everyone is fully engaged and
appropriately rewarded.
cfed services
Research & Demonstration
Field Services
Policy Analysis, Design, & Advocacy
Communications

3. Those who don’t know us well may refer to CFED as a think tank. We,
however, prefer to think of ourselves as a do tank, not only developing
and advocating ideas, but testing them in the marketplace, building
systems for applying these ideas, and looking for ways to bring them
to scale.
In the 80s we tested the concept of promoting and supporting
microenterprise as a way to raise families out of poverty and stimulate
local economies. In the 90s we demonstrated that asset building can
break the cycle of poverty for low-income, low-wealth workers. And in
2002, CFED will begin to test our next big idea: seeded savings
accounts for all American children to bring within their grasp the
dreams of education, entrepreneurship, or homeownership.
This report shares a few highlights of how CFED translates ideas into
action to promote sound policies and practices that connect people,
communities, and economies.

4. 2001 was the fourth year of the s recruited, trained, placed, and
American Dream Demonstration supported 63 AmeriCorps*VISTA
(ADD), in which 13 community volunteers to help both fledgling
partners committed to a five- and established IDA programs
year research initiative with develop
CFED. Designed to test the effi-
s convened a task force to de-
cacy of the Individual Develop-
velop voluntary standards for
ment Account (IDA) concept,
IDA programs
ADD entered its final year with
2,378 accountholders—exceed- s guided development of and ad-
ing its original goal of 2,000. vocacy for the Savings for
Working Families Act (SWFA)—
The study supplied a wealth of a powerful piece of federal
data on IDA savings and variation legislation in support of IDAs
in programmatic models, provid-
ing crucial knowledge to inform s coordinated financial institution
the public policy development. To input to help craft the future of
leverage that knowledge, CFED: the IDA field
s disseminated lessons learned, s engaged and convened leading
best practices, and IDA tools thinkers from across the philo-
through a variety of publica- sophical spectrum to debate
tions, workshops, and online issues of significance to the
networking individual assets movement

5. asset building
Using savings they amassed as participants in
CFED’s American Dream Demonstration, the Triplett family
was able to purchase its first home.
About 55% of the individuals
and families saving in
Individual Development Accounts plan to use their savings to
purchase homes.

6. The notion of microenterprise has s providing $160,000 and technical as-
been maturing in the United States sistance in 16 grants to State Micro-
for some twenty-odd years, reshap- enterprise Associations (SMAs) to
ing public opinion about the ability of support their policy advocacy and
low-income people to become suc- capacity building
cessful entrepreneurs and build a
s disseminating models for effective
lasting escape from poverty. In 2001,
microenterprise practice by launch-
CFED worked to build a more cohesive
ing the Effective State Policy and
microenterprise field by:
Practice series
s formalizing CFED’s National Fund
s partnering with the Association for
for Enterprise Development as a
Enterprise Opportunity to further
community development financial
support growing SMAs through
institution (CDFI) that will invest
meetings, trainings, and conferences
$485,000 in state microenterprise
intermediaries to attract new, s leading the Microenterprise Anti-
otherwise unavailable, state-level Poverty Policy Consortium—a coali-
funding for microenterprise tion of national policy, research, and
practitioner organizations—
s investing $100,000 to enable five
through the reauthorization of the
state partners—in New York,
PRIME Act and a $5 million federal
California, Minnesota, Tennessee,
microenterprise appropriation
and Virginia—to integrate micro-
enterprise services into each state’s s promoting rural entrepreneurship
welfare infrastructure through presentations, conferences,
and publications

7. enterprise
Maria is an entrepreneur who launched her
skin care and make-up consultation
business in September 1998.
CFED invested $330,000 in microenterprise programs that
help microentrepreneurs like Maria start up businesses and
escape from poverty.

8. As trends in conventional financial services s reaching out to more than 400 CDFIs
continue toward consolidation and away to gather information on assets, equity,
from the community, development finance investments and more—essential data
groups are presented with more opportu- in informing national policies to nurture
nities than ever before, and an increas- the development finance field
ingly savvy consumer base clamors for
s providing technical assistance to matur-
their services. Unfortunately, as CFED’s
ing Local Capital Markets Investment
1998 Counting on Local Capital project
Fund (LCMIF) investments and initiating
clearly illustrated, pockets of innovation
new investments, including financing to
in the development finance industry have
support a customer referral process be-
a history of disconnection. In 2001, CFED
tween Nebraska’s commercial and
focused its development finance work on
micro/small-business lenders
information gathering, coalition building,
research, development, and standardiza- s convening more than 50 innovators to
tion to leverage power throughout the exchange ideas, learn from each other’s
entire industry. experiences, and help guide future
LCMIF investments
CFED worked to strengthen the develop-
ment finance field by: s assessing market opportunities and
shaping a strategic community develop-
s bringing together the seven leading na- ment plan for Citigroup in Delaware
tional development finance organiza-
tions and trade associations to create s analyzing loan funds in South Dakota to
universal definitions for the development assess their contribution to the state’s
finance field economic development

9. development finance
Eddie Walker, a California banker who
worked closely with CFED’s American
Dream Demonstration, is representative of
development officers at the more than
400 community development financial institutions that CFED polled
to gather information on assets, equity, investments and more—
powerful data that is essential in informing national policies that
nurture the development finance field.

10. Policymakers, private sector leaders, and com- s providing technical assistance to state fiscal
munity activists should always measure the centers in California and Texas regarding
success or failure of economic development by spending on business incentives and im-
the extent to which such efforts improve quality proved standards of accountability and cost
of life. Quality is not limited to the ready avail- effectiveness
ability of jobs. It also includes earnings, natural
s contributing to resolutions on international
assets, community services, cultural opportuni-
trade policy by the U.S. National League of
ties, and a host of other important issues. In
Cities, the Canadian Federation of
2001, CFED sought to educate a wide variety of
Municipalities, and the Pacific Northwest
stakeholders about the complexity and intercon-
Economic Development Region
nectedness of effective economic development.
s educating practitioners on budget accounta-
CFED focused on changing the public debate
bility, business subsidy reform, and workforce
about business climate by:
issues through conference presentations
s researching and analyzing 70 specific data and publication of the monthly Accounta-
points to publish online the 15th annual bility and Trade and Sustainable Develop-
Development Report Card for the States, ment electronic newsletters
which attracted 9,000 visitors and garnered s expanding the Economic Development
media attention throughout the year Fellowship Program (EDFP) to include Spain
and Portugal and coordinating four EDFP
s advising the California state legislature on
study tours to facilitate exchange of eco-
global policies of specific concern to the
nomic development strategies and ideas
state and, in particular, its low-income
between the United States and Europe
communities

11. business climate
CFED’s Economic Development Fellowship
Program enables an exchange of economic
development strategies between the United
States and Europe. Here, Theodora Noncheva
of Bulgaria visits the U.S. Department of
Housing and Urban Development YouthBuild
Site in Pittsburgh.

12. In striving to fulfill our mission of achieving widely potential stakeholders think about savings initia-
shared and sustainable economic well-being, CFED tives that begin for all American children at birth
is always looking for the next idea that shows
s designing a demonstration model that will
some promise to create an enduring infrastructure
mimic 18 years of deposits, interest, and
to advance low-income communities. In 2001, we
financial education to test the efficacy of savings
focused on exploring and cultivating two big
accounts for children
ideas—that asset-building initiatives should begin
for all American children at birth, and that the value s formulating a program of work that asserts that
of natural assets should be carefully stewarded and natural resources should be treated as assets to
equally shared among all people. be protected and managed rather than inventory
to be liquidated and that the value derived from
CFED cultivated these new ideas by: these assets should be equally shared by all
s commissioning 12 research projects on various people
topics associated with families, children, and s weighing in to Congress on the urgency of
asset building in the United States, including but identifying effective and equitable global warming
not limited to an analysis of inequality in child solutions that distribute revenues necessary to
well-being; a review of options for financial retrain affected workers, provide energy and
literacy with children, youth, and families; and economic assistance to low- and moderate-
an audit of existing state college savings plans income consumers, finance weatherization and
s conducting 13 focus groups in nine different energy conservation efforts, and promote
areas of the United States to discern what policy- economic development in energy-dependent
makers, the general public, parents, and other communities

13. idea cultivation
In 2001, CFED focused
on exploring and
cultivating the idea
that asset-building
initiatives should
begin for all American
children at birth.

14. s s s 2001 publications, conferences and training
Publications State Microenterprise Associations:
Effective State Policy and Practice
2001 Development Report Card for the States
Trade and Sustainable Development: A Newsletter
Accountability: The Newsletter of the Business
Incentives Reform Clearinghouse
Conferences and training
Assets: A Quarterly Update for Innovators
IDA Training Institute: provides skills, knowledge, and
Building Assets: A Report on the Asset-Development networks necessary to create, manage, and support
and IDA Field effective and efficient IDA programs
Directory of State IDA Associations 2001 IDA Learning Conference: gathers IDA stakehold-
ers from across the nation to learn, share experi-
Economic Development Fellowship Program: ences, and plan for the future of IDAs
Directory of Fellows
Annual State Microenterprise Association Convening:
IDA State Policy Guide: Advancing Public Policies in fosters peer-to-peer learning and intense training in
Support of Individual Development Accounts organizational and policy development
Individual Development Accounts for Youth: LCMIF Institute: convenes innovators to discuss new
Lessons from an Emerging Field products and services that expand access to capital in
low-income and underserved communities
Life and Death of the Virginia Eastern Shore
Corporation

15. s s s 2001 partners/investees
ADVOCAP Harrison Institute Neighborhood Reinvestment Corporation
Alliance for Minnesota Microenterprise Heart of America Family Services New Hampshire Community Loan Fund
Alternatives Federal Credit Union JK Associates New Hampshire Microbusiness Partners
Appalachian Regional Commission Kansas Microenterprise Opportunity Nonprofit Finance Fund
Association for Enterprise Opportunity Network North Carolina Rural Economic
Aspen Institute MACED-Owsley County Action Team Development Center, Inc.
Bay Area IDA Collaborative Massachusetts Micro-Enterprise Coalition Oregon Microenterprise Network
Capital Area Asset Building Corporation Mercy Corps. Pennsylvania Microenterprise Coalition
CDFI Coalition Microenterprise Council of Maryland Rhode Island Microenterprise Association
California Association for Microenterprise Microenterprise Development Alliance of Shorebank Corporation
Opportunity Louisiana Social and Enterprise Development
Center for Social Development Microenterprise Organization of Ohio Innovations
Foundation Communities MicroNet South Dakota Rural Enterprise, Inc
Central Vermont Community Action Ms. Foundation for Women Statewide Emergency Network for Social
Council National Community Capital Association and Economic Security
Colorado Alliance for Microenterprise National Community Investment Fund Tennessee Network for Community
Initiatives National Federation of Community Economic Development
Community Action Project of Tulsa County Development Credit Unions Technical Assistance Providers’
Community Development Venture Capital National Congress for Community Association
Alliance Economic Development Virginia Microenterprise Network
Financial Foundations Nebraska Microenterprise Opportunity Wider Opportunities for Women
First State Community Loan Fund Network Women Self-Employment Project
Florida Association for Microenterprise Nebraska Microenterprise Partnership Women Venture
Georgia Microenterprise Network Fund

16. s s s 2001 staff list
During 2001
Fiona Adams Peter Genuardi Deborah Manley Sandi Smith
Communications Production Program Associate Employee Services Manager Senior Program Manager
Manager
Inger Giuffrida Kent Marcoux Lesley Stewart
Shawnice Blakes Program Director Program Director Program Associate
Administrative Assistant
Matt Hull Alonzo Moore Sean Stickle
Ray Boshara Program Manager Information Technology Technology Manager
Policy Director Associate
Jan Huneke Heather Tyler
Beverly Brandon-Simms Senior Program Manager Leslie Parrish Communications Director
Chief Financial Officer Program Manager
La Shelle Jenkins Richard Wallach
Tom Breslin Office Manager Kim Pate Communications Systems
Business Information Senior Program Manager Manager
Manager Linda Keeney
Communications Manager Du Pham Freddye Wiggins
Paige Brown Accountant Receptionist
Senior Program Manager Patricia Kennedy
Program Manager Carl Rist Karen Wilson
Rene Bryce-Laporte Program Director Development Director
Senior Program Manager Melissa Koide
Program Manager Bill Schweke
Cecilia Cuthbert Senior Program Director
Office Manager Sara Lawrence
Program Manager Steve Shepelwich
Brian Dabson Senior Program Manager
President Andrea Levere
Vice President Javier Silva
Colleen Dailey Program Manager
Program Manager Eliza Mahony
Program Manager Anna Smith
Robert Friedman Accounting Technician
General Counsel Jennifer Malkin
Program Associate

17. s s s 2001 board of directors
Current as of December 31, 2001
Robert Friedman David Dodson Hilary Pennington
Chair President President
CFED MDC, Inc. Jobs for the Future
San Francisco, CA Chapel Hill, NC Boston, MA
Brian Dabson Fred Goldberg Janet Thompson
President Skadden, Arps, Slate, Meagher, Flom, LLP Vice President
CFED Washington, DC Citigroup NA
Washington, DC New York, NY
Ronald Grzywinski
Rebecca Adamson Chairman Joan Wills
President Shorebank Corporation Director
First Nations Development Institute Chicago, IL Institute for Educational Leadership
Fredericksburg, VA Washington, DC
Maurice Lim Miller
Angela Glover Blackwell Oakland, CA Grace Young
President Concurrent Technologies Corporation
PolicyLink Chris Page St. Augustine, FL
Oakland, CA Program Officer
Rockefeller Philanthropy Advisors
William Bynum New York, NY
President & CEO
Enterprise Corporation of the Delta Chuck Parrish
Jackson, MS Hillsborough, CA

18. s s s 2001 supporters
Groups & individuals providing more than $10,000 in 2001
Annie E. Casey Foundation The John D. and Catherine T. MacArthur Foundation
Citigroup Foundation The Moriah Fund
Corporation for National Service Charles Stewart Mott Foundation
Fannie Mae Foundation Rockefeller Brothers Fund
The Ford Foundation Rockefeller Foundation
Friedman Family Foundation Winthrop Rockefeller Foundation
German Marshall Fund of the United States San Francisco Foundation
William Randolph Hearst Foundation Alvin and Fanny B. Thalheimer Foundation
F.B. Heron Foundation
The Joyce Foundation
Ewing Marion Kauffman Foundation
Levi Strauss Foundation

20. Corporation
For Enterprise
Development
777 N Capitol St NE sss Suite 800 sss Washington, DC 20002 sss www.cfed.org