Opportunity Resource Fund, a Detroit-based nonprofit Community Development Financial Institution (CDFI) dedicated to expanding access to capital and creating pathways to economic opportunity, has appointed Katrina Chaves to its board of directors.
Chaves joins Opportunity Resource Fund’s board at a time of continued growth as the organization expands its impact through responsible lending, affordable housing initiatives, small business financing and community partnerships that strengthen underserved communities throughout Michigan.
“Katrina brings exceptional experience in community development, housing, and strategic partnerships,” says Sheilah P. Clay, board chair of Opportunity Resource Fund. “Her leadership and shared commitment to expanding economic opportunity will help guide OppFund as we continue to invest in individuals, families and communities across Michigan.”
Throughout her career, Chaves has seen how strategic investments and strong partnerships can create lasting opportunities for individuals and communities with limited access to resources.
“Opportunity Resource Fund is creating lasting economic opportunities for communities through collaboration and strategic investment,” says Chaves. “I’m excited to join the board and contribute to advancing equitable access to capital and resources that help individuals, businesses and neighborhoods thrive.”
Chaves currently serves as vice president of global philanthropy at JPMorganChase, where she leads strategic philanthropic investments and partnerships across Michigan and Canada focused on advancing economic mobility and expanding opportunity. Her work centers on business growth and entrepreneurship, workforce development, affordable housing, and financial health through collaboration with community organizations, civic leaders and the private sector.
For the city of Detroit, Chaves served as deputy group executive of planning, housing and development in the mayor’s office, managing transformational mixed-income and affordable housing projects, and collaborating with city departments and Invest Detroit and community development organizations to implement the Strategic Neighborhood Fund.
Previously, as director of development in the housing and revitalization department, she led public-private partnerships and major development projects to advance the city’s affordable housing strategy.
Sonali Allen, senior vice president and chief compliance and community development officer at Mercantile Bank, also was added to Opportunity Resource Fund’s board of directors.
“Opportunity Resource Fund has always believed that strong communities are built through collaboration, investment and access to opportunity,” says Byna Elliott, president and CEO of Opportunity Resource Fund. “The expertise Sonali and Katrina bring in banking, philanthropy, housing and community development will strengthen our governance and help accelerate our mission of creating equitable financial opportunities for Michigan residents.”
As board members, Chaves and Allen will help provide strategic oversight, strengthen community partnerships and support Opportunity Resource Fund’s continued efforts to expand access to capital for entrepreneurs, homeowners, faith-based organizations and nonprofit institutions throughout the state.
