Nonprofit · EIN 52-1954196
RAZA DEVELOPMENT FUND INC
Tax-exempt · PHOENIX, AZ 85040
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $44,302,420 | $25,986,480 | $18,315,940 | $378,020,114 | $247,438,839 | $130,581,275 |
| September 30, 2024 | 990 | $25,660,512 | $23,615,314 | $2,045,198 | $363,067,878 | $250,802,543 | $112,265,335 |
| September 30, 2023 | 990 | $26,318,340 | $20,725,703 | $5,592,637 | $335,227,129 | $227,395,188 | $107,831,941 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $20,622,907
- of which government grants
- $18,430,700
- Program service revenue
- $20,878,208
- Investment income
- $2,692,234
- Other revenue
- $109,071
Expenses
- Grants and similar amounts paid
- $1,265,000
- Compensation of officers, directors and key employees
- $2,327,777
- Other salaries and wages
- $4,314,292
- Salaries, compensation and benefits (total)
- $8,423,127
- Professional fundraising fees
- $0
- Legal fees
- $231,340
- Accounting fees
- $123,190
- Occupancy
- $95,700
- Travel
- $1,135,105
- Depreciation
- $153,961
- Program services (functional)
- $20,904,888
- Management and general (functional)
- $4,924,125
- Fundraising (functional)
- $157,467
Balance sheet and other
- Total assets, start of year
- $363,067,878
- Total assets, end of year
- $378,020,114
- Total liabilities, end of year
- $247,438,839
- Net assets, end of year
- $130,581,275
- Land, buildings and equipment
- $2,834,862
- Net assets without donor restrictions
- $88,379,594
- Net assets with donor restrictions
- $42,201,681
- Gross receipts
- $44,302,420
- Employees
- 45
- Volunteers
- 9
- Year formed
- 1996
- State of legal domicile
- AZ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JANET MURGUIA | BOARD MEMBER Trustee or director | 1 | $0 | $773,603 | $85,986 |
| MARY ANN DONOVAN | PRESIDENT & CEO Trustee or director, Officer | 40 | $457,563 | $0 | $48,713 |
| MELISSA MCDONALD | CHIEF PEOPLE & OPERATING OFFICER Officer | 40 | $302,141 | $0 | $44,234 |
| ANTONIO LOPEZ | CHIEF FINANCIAL OFFICER Officer | 40 | $223,626 | $0 | $50,867 |
| ADRIAN RUIZ | CHIEF INVEST OFFICER (THRU 8/31/25) Officer | 40 | $224,030 | $0 | $49,969 |
| JUAN MADRID | SVP, DEPUTY CFO & CONTROLLER Highest-paid employee | 40 | $204,336 | $0 | $48,165 |
| SCOTT RICHTER | CHIEF CREDIT OFFICER (THRU 9/1/25) Officer | 40 | $207,859 | $0 | $37,062 |
| AMY LAUGHLIN | SVP, DEPUTY CIO, STRUCTURED FINANCE Highest-paid employee | 40 | $181,120 | $0 | $37,791 |
| AMANDA SANCHEZ | SVP OF EDUCATION Highest-paid employee | 40 | $170,370 | $0 | $45,573 |
| AILISA HERRERA | SVP AFFORDABLE HOUSING Highest-paid employee | 40 | $169,378 | $0 | $34,309 |
| PEDRO CHAVES | SVP, DEPUTY CHIEF CREDIT OFFICER Highest-paid employee | 40 | $156,800 | $0 | $33,658 |
| ERIK HARTMAN | CHIEF INFORMATION TECHNOLOGY OFFICER Officer | 40 | $131,399 | $0 | $12,694 |
| DANIEL ORTEGA | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BRENDA LOYA | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KENNETH I TRUJILLO | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| AARON DOMINGUEZ | BOARD MEMBER Trustee or director | 1 | $0 |
| DONNA GAMBRELL | BOARD MEMBER (THRU 10/31/24) Trustee or director | 1 | $0 |
| J REYMUNDO OCANAS | BOARD MEMBER Trustee or director | 1 | $0 |
| LUIS GRANADOS | BOARD MEMBER Trustee or director | 1 | $0 |
| MARIA S SALINAS | BOARD MEMBER Trustee or director | 1 | $0 |
| MATT REILEIN | BOARD MEMBER (BEG 10/1/24) Trustee or director | 1 | $0 |
| DANIAH IKRAM | CHIEF CREDIT OFFICER (BEG 9/1/25) Officer | 40 | $0 |
990 for the year ended September 30, 2024: 23 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JANET MURGUIA | BOARD MEMBER Trustee or director | 1 | $0 | $676,570 | $61,119 |
| MARY ANN DONOVAN | PRESIDENT & CEO Trustee or director, Officer | 40 | $526,911 | $0 | $53,814 |
| RODRIGO VELA | FORMER CFO (THRU 6/30/23) Former | 40 | $381,866 | $0 | $56,931 |
| DAVID CLOWER | EVP STRATEGIC INVEST (THRU 2/15/24) Officer | 40 | $318,489 | $0 | $58,878 |
| MELISSA MCDONALD | CHIEF PEOPLE & OPERATIONS OFFICER Officer | 40 | $327,428 | $0 | $47,019 |
| ANTONIO LOPEZ | CHIEF FINANCIAL OFFICER Officer | 40 | $227,229 | $0 | $52,009 |
| ADRIAN RUIZ | CHIEF INVESTMENT OFFICER Officer | 40 | $227,493 | $0 | $51,625 |
| JUAN MADRID | DEPUTY CFO & CONTROLLER Highest-paid employee | 40 | $210,291 | $0 | $50,183 |
| SCOTT RICHTER | CHIEF CREDIT OFFICER Officer | 40 | $213,974 | $0 | $37,717 |
| AMANDA SANCHEZ | VP OF EDUCATION Highest-paid employee | 40 | $182,957 | $0 | $47,937 |
| PEDRO CHAVES | DEPUTY CHIEF CREDIT OFFICER Highest-paid employee | 40 | $164,998 | $0 | $34,107 |
| CATHERINE KES | SR DIRECTOR OF SPECIALTY FINANCE Highest-paid employee | 40 | $150,413 | $0 | $33,632 |
| SIMA THAKKAR | SVP COMMUNITY INNOVATIONS Highest-paid employee | 40 | $150,021 | $0 | $23,178 |
| DANIEL ORTEGA | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BRENDA LOYA | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KENNETH I TRUJILLO | SECRETARY (BEG 5/17/24) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOSEPH F REILLY | SECRETARY (THRU 5/16/24) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| AARON DOMINGUEZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DONNA GAMBRELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| LUIS GRANADOS | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MARIA S SALINAS | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| J REYMUNDO OCANAS | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ERIK HARTMAN | CHIEF IT OFFICER (BEG 5/13/24) Officer | 40 | $0 | $0 | $0 |
990 for the year ended September 30, 2023: 25 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| TOM ESPINOZA | PRESIDENT/CEO (THRU 12/31/22) Trustee or director, Officer | 40 | $1,133,088 | $0 | $45,690 |
| JANET MURGUIA | BOARD MEMBER Trustee or director | 1 | $0 | $649,453 | $59,141 |
| RODRIGO VELA | CHIEF FINANCIAL OFFICER(THRU 6/30/23) Officer | 40 | $372,230 | $0 | $57,240 |
| DAVID CLOWER | EVP FOR STRATEGIC INVESTMENTS Officer | 40 | $321,812 | $0 | $56,826 |
| MELISSA MCDONALD | CHIEF OPERATING OFFICER Officer | 40 | $324,974 | $0 | $44,690 |
| ANTONIO LOPEZ | CHIEF FINANCIAL OFFICER Officer | 40 | $195,867 | $0 | $48,101 |
| ADRIAN RUIZ | CHIEF INVESTMENT OFFICER Officer | 40 | $189,935 | $0 | $47,653 |
| SCOTT RICHTER | CHIEF CREDIT OFFICER Officer | 40 | $201,107 | $0 | $36,149 |
| JUAN MADRID | CONTROLLER Highest-paid employee | 40 | $186,714 | $0 | $47,342 |
| MARY ANN DONOVAN | PRESIDENT/CEO Trustee or director, Officer | 40 | $167,375 | $0 | $31,456 |
| PERDRO CHAVES | DEPUTY CHIELF CREDIT OFFICER Highest-paid employee | 40 | $156,609 | $0 | $32,392 |
| AMANDA SANCHEZ | DIRECTOR- PACIFIC NORTHWEST REGION Highest-paid employee | 40 | $142,809 | $0 | $43,618 |
| BRIAN CHAMPEAU | DIRECTOR - EAST COAST REGI Highest-paid employee | 40 | $134,324 | $0 | $42,869 |
| CATHERINE KES | DIRECTOR - SPECIALTY FINAN Highest-paid employee | 40 | $139,278 | $0 | $32,176 |
| DANIEL ORTEGA | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BRENDA LOYA | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOSEPH F REILLY | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| AARON DOMINGUEZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JAMES W FEILD | BOARD MEMBER (THRU 11/30/22) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DONNA GAMBRELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| LUIS GRANADOS | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ART RUIZ | BOARD MEMBER (THRU 11/30/22) Trustee or director | 1 | $0 | $0 | $0 |
| KENNETH I TRUJILLO | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MARIA S SALINAS | BOARD MEMBER (BEG 5/18/23) Trustee or director | 1 | $0 | $0 | $0 |
| J REYMUNDO OCANAS | BOARD MEMBER (BEG 5/18/23) Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 410 E SOUTHERN AVE, PHOENIX, AZ 85040-3046
- In care of
- % RODRIGO VELA CFO
- Principal officer (990 for 2024)
- MARY ANN DONOVAN, 410 E SOUTHERN AVE, PHOENIX, AZ 85040
- Signed the 990
- ANTONIO LOPEZ, CFO
- Phone
- (602) 417-1400
- Return prepared by
- RSM US LLP
Mission
RDF IS UNLOCKING LASTING PROSPERITY IN COMMUNITIES ACROSS AMERICA.
Program accomplishments
- LOAN FUND PROGRAMS: LENDING PROGRAMS TO ASSIST LOW INCOME COMMUNITIES BY INCREASING ACCESS TO CAPITAL. LOANS APPROVED 43.Expenses $20,904,888 · grants $1,265,000 · revenue $20,878,208
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 52-1954196
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1996
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S43Z)
- Assets (IRS master file)
- $378,020,114
- Income (IRS master file)
- $44,302,420
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | – | – | – | IRS |
| 990-T | September 2025 | – | – | – | IRS |
| 990 | September 2024 | – | – | – | IRS |
| 990 | September 2023 | $26,318,340 | $20,725,703 | $335,227,129 | IRS |
| 990 | September 2022 | $48,137,884 | $24,595,544 | $296,838,353 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about RAZA DEVELOPMENT FUND INC
- What is the EIN of RAZA DEVELOPMENT FUND INC?
- The employer identification number (EIN) of RAZA DEVELOPMENT FUND INC is 52-1954196.
- Is RAZA DEVELOPMENT FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
- Are donations to RAZA DEVELOPMENT FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does RAZA DEVELOPMENT FUND INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RAZA DEVELOPMENT FUND INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RAZA DEVELOPMENT FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of RAZA DEVELOPMENT FUND INC?
- The 990 for the year ended September 30, 2025 names MARY ANN DONOVAN.
- Who are the officers and directors of RAZA DEVELOPMENT FUND INC?
- The 990 for the year ended September 30, 2025 lists 22 people; 11 received compensation from the organization.
- How much revenue does RAZA DEVELOPMENT FUND INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $44,302,420, expenses of $25,986,480 and total assets of $378,020,114 at year end.
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