Catalytic Fund appoints Bernie McKay as board chairman, replacing Chuck Scheper who retains a position on the board.
The Catalytic Fund, a not-for-profit Community Development Financial Institution (CDFI) based in Northern Kentucky, is set for a leadership transition as Bernie McKay takes over as Chairman of the Board, effective July 1.
Current Chairman, Chuck Scheper, who has been at the helm since the organisation's inception in 2008, will remain an active member of the Board of Directors following his tenure. Scheper, a visionary behind many of The Catalytic Fund's notable projects, is credited for the transformation of several blighted properties into lasting and tangible assets. His leadership saw the organisation grow from a startup with zero assets to a $30M+ company.
The Catalytic Fund specialises in converting vacant, underutilised, and blighted properties into valuable assets that aim to improve the quality of life and place in Northern Kentucky communities. Over the past decade, the organisation has executed over 100 projects with a combined investment impact of over $500M.
Jeanne Schroer, the President and CEO of The Catalytic Fund, will continue to lead the organisation. Bernie McKay, a 30-year resident of Newport, Northern Kentucky, with a background in accounting, law, and community development through his position with the Haile Foundation, is seen as an excellent choice to lead The Catalytic Fund into its next chapter.
With McKay at the helm, The Catalytic Fund is poised to expand its impact in Northern Kentucky. The organisation plans to grow its Investment Fund and establish a new Northern Kentucky Housing Fund. This move is expected to position The Catalytic Fund well to continue its mission of revitalising Northern Kentucky communities through strategic real estate investments.
The Catalytic Fund provides non-traditional financing products and related property development advisory services to private sector and not-for-profit developers, property owners, and municipal and public entities. The organisation's $32M investment fund is capitalised through loans and grants from banks, foundations, private corporations, and the US Department of Treasury Community Development Financial Institution Fund.
The Catalytic Fund's purpose is to attract and execute quality place-based investments for regional economic development and local community development. The organisation executes high impact real estate development projects that serve the needs of Northern Kentucky communities, positioning it as a key player in the region's growth and development.
Read also:
- Strategizing the Integration of Digital Menus as a Core Element in Business Operations
- Financial Actions of BlockDAG Following Inter and Borussia Agreements: Anticipating Future Steps
- International powers, including France, Germany, and the UK, advocate for the reinstatement of sanctions against Iran.
- Republicans advocate Trump's domestic policy plans in Iowa, though some business owners remain skeptic
