Kimberly A. Reed

U.S. Treasury Secretary Henry M. Paulson announced the appointment of Kimberly A. Reed to serve as the Director of the Treasury Department’s Community Development Financial Institutions (CDFI) Fund on January 18, 2007, and she began her tenure with the Fund on February 1, 2007.

As Director, Ms. Reed oversees the CDFI Fund’s various programs aimed at expanding the capacity of financial institutions to provide credit, investment capital, and financial services to distressed urban and rural communities in the United States. Since its creation in 1994, the Fund has awarded $864 million to Community Development Financial Institutions (CDFIs) and organizations developing CDFIs through its programs. In addition, the Fund has awarded $16 billion in tax credits under the New Markets Tax Credit Program, which is authorized by Congress to allocate a total of $19.5 billion in tax credits to Community Development Entities.

Prior to heading the CDFI Fund, Ms. Reed served as Senior Advisor to both Secretary Paulson and Secretary John W. Snow since May 2004. As Senior Advisor, she provided counsel on key policy matters, including tax and economic issues. Ms. Reed also coordinated issues within the Department and its Bureaus, including the Department’s response to Hurricane Katrina and CDFI Fund efforts, as well as with the White House and other agencies. She was involved in the day-to-day management of Departmental operations, and served as a primary liaison with the Internal Revenue Service (IRS), the IRS Oversight Board, and the National Taxpayer Advocate.

Ms. Reed served as Counsel and Professional Staff to three U.S. House of Representatives committees from 1997 to 2004, including the Ways and Means Committee, the Government Reform Committee, and the Education and the Workforce Committee. While at the Ways and Means Committee, she conducted oversight reviews of various issues within the Committee’s jurisdiction, including Treasury and IRS policies and procedures, tax incentive programs for economically distressed communities, activities of tax-exempt organizations, and the charitable response to September 11.

Originally from Buckhannon West Virginia, Ms. Reed graduated in 1996 with a Juris Doctor degree from West Virginia University College of Law. In 1993, she graduated from Wesleyan College with dual degrees in biology and government. Ms. Reed received the 2004 West Virginia Wesleyan College Young Alumni Achievement Award. In recognition of her distinguished record and contributions to the Treasury Department, Secretary Snow awarded her the Secretary’s Honor Award in 2006 and Secretary Paulson awarded her the Meritorious Service Award in 2007.