The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released data collected on projects financed in low-income communities across the nation through 2010. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded New Markets Tax Credit (NMTC) allocations to submit an annual report detailing how they invested Qualified Equity Investment (QEI) proceeds in low-income communities. These reports must be submitted to the CDFI Fund by the CDEs, along with their audited financial statements, within six months after the end of their fiscal years.

Through the fiscal year (FY) 2010 reporting period, CDEs disbursed a total of $20,901,020,746 in QEI proceeds to 3,060 Qualified Active Low-Income Community Businesses (QALICBs) – financing both real estate developments and operating businesses in low-income communities.

• 1,405 QALICBs (45.9% of total) were “real estate QALICBs,” where the principal activity is the development or leasing of real estate. These real estate QALICBs received $12,516,513,081 in NTMC financing (59.9% of total).



• 1,553 QALICBs (50.8% of total) were “non-real estate QALICBs,” or operating businesses. These businesses received $7,672,600,485 in NMTC financing (36.7% of total).



• 97 QALICBs (3.2%) were loans or investments made through other CDEs. These investments totaled $675,283,443 in NMTC financing (3.2% of total).



• 5 QALICBs were not reported into any of the above three categories.

New Markets Tax Credit investments were located in metro and non-metro areas across all 50 states, the District of Columbia, and Puerto Rico:

• 2,534 QALICBs (82.8% of total) were located in metropolitan areas. These QALICBs received $18,292,660,951 in NMTC financing (87.5% of total).



• 526 QALICBs (17.2% of total) were located in non-metropolitan areas. These QALICBs received $2,608,359,795 in NMTC financing (12.5% of total).

These investments supported a wide variety of projects including, among others, charter schools, health care facilities, timberlands, grocery stores, restaurants, child care providers, and pharmacies.

A summary report listing all QALICBs financed by CDEs through FY 2010 can be found at FY 2010 NMTC Data. A map of all QALICBs financed by CDEs through FY 2010 can be found at FY 2010 NMTC Data Map. Please note that all data are subject to change based on subsequent reporting.