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Annual Reports &
Financial Statements

Annual Reporting & Financial Statements

C4C strives to create Connecticut's premier community development financial institution, offering capital solutions that will create and sustain lasting, positive change to low-income communities, including broadened social and economic participation, economic growth, and environmental sustainability.

 

2021 Impact Letter

||| C4C Annual Reports

||| 2023 - 2024: 2024 Annual Report

Since our inception, Capital for Change has been dedicated to driving thoughtful, sustainable community development. Over the past year, we have identified our most promising opportunities for advancing this mission, resulting in our first Strategic Plan focused on stabilization, strengthening, and growth.

Our approach to community development encompasses enhancing the availability of high-quality
affordable housing, investing in job-creating and wealth-building small businesses, improving
energy efficiency, reducing our carbon footprint, and supporting community organizations that serve
our neighbors. This year, we successfully achieved all of these goals.

||| 2022 - 2023: Elements of Change

As we look back on our 2023 Fiscal Year, we’re pleased to share highlights of our work supporting our mission and continued growth. Capital for Change’s 2023 Annual Report illustrates our dedication to fulfilling our promise to the communities we serve.

Change is a powerful force that can guide us to unseen opportunities and inspire us to live and work in new ways. Whether it's a change in our personal lives or in the world around us, embracing the elements of change can lead to exciting possibilities. By staying open to different ideas and approaches, we are inviting the power of change to create a brighter future for ourselves and our communities.
 

||| 2021 - 2022: Change In Action

We are pleased to provide our 2021-2022 Annual Report covering the Fiscal Year ending March 31, 2022. Rebounding from the impacts of COVID, C4C had a busy year channeling recovery funding and staff resources to support our mission. 

In commercial lending, this rebound was evident in the 25 new loans totaling over $9 million that were closed for affordable housing projects and non-profit lending. Well over 60% of these loans were in low to moderate-income census tracts, and over 60% of the beneficiaries have been people of color.
 

||| 2020 - 2021 A Year In Review

Despite the calamitous economic and health impacts of COVID throughout the fiscal year, Capital for Change (C4C) continued to deliver on its mission to provide capital and services that create more equitable and sustainable communities. That mission is more important than ever in the wake of COVID and its racially disparate impacts. C4C responded quickly to COVID’s economic impacts by working closely with the borrowers we serve to help preserve the health of their financial condition by offering online payment deferrals, as needed.
 

||| 2019 - 2020 A Year In Review

Our rapid growth on top of merging was both exciting and challenging, and Capital for Change is ready for new challenges. Merging in 2016 was an intense, time-consuming business that required a careful knitting together of operating systems and organizational structure. Having now completed much of that work, we are well positioned to move forward and expand our impact.

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