RAZA DEVELOPMENT FUND (RDF) - Key Persons

Job Titles:

• Chief Investment Officer

Adrian Ruiz is the Chief Investment Officer for Raza Development Fund, having joined the organization in 2018. He is responsible for executing business strategies, managing the growth of assets under management, and leads an inter-disciplinary group of impact investment professionals across RDF's education, housing, and healthcare lending verticals and New Markets Tax Credit practice. He most recently served as RDF's Deputy Chief Investment Officer and head of the Education Finance practice in which he was directly responsible for the successful deployment of over $100 million in impact investments across the country. Prior to joining RDF, he served as the Executive Director of Espiritu Schools, an emerging network of K-12 charter schools, where he was responsible for the overall operations and performance. Under his leadership, Espiritu became one of only four "A" rated local education agencies in the South Phoenix community. Mr. Ruiz has been involved in the education industry for over 13 years and possesses a diverse business background having worked in finance and accounting capacities with various domestic and international nonprofit organizations. He received his B.S. in business finance from Arizona State University and holds an MBA from Benedictine University. He is alum of the Pahara Institute's NextGen Network, serves as a reviewer for the Walton Family Foundation School Start-up Grant review committee, sits on the Governing Board for the Charter School Financing Partnership, and serves on the A for Arizona Expansion and Innovation Fund vetting committee. He is currently a Chartered Alternative Investment Analyst (CAIA) Level II Candidate.

Job Titles:

• CEO
• President
• Evergreen Board Member / President and Chief Executive Officer

Annie Donovan is Raza Development Fund's President & CEO. She leads an experienced team of servant leaders who are passionate about building communities of opportunity where everyone in America can thrive. Donovan brings a wealth of experience in the CDFI sector. For decades she has been driving impact investing strategies to spur economic opportunity and revitalize communities. She served in the White House Office of Social Innovation and as the Director of the U.S. Department of the Treasury's Community Development Financial Institutions Fund, where she directed a multi-billion-dollar portfolio of programs aimed at improving access to capital for disinvested communities across the country. She has held top executive positions at Capital Impact Partners (now Momentus Capital), and Local Initiatives Support Corporation (LISC), where she worked to propel these organizations to greater levels of growth and impact. Donovan's passion for community development and sustainability began with her service in the U.S. Peace Corps. Today, Donovan is an accomplished leader in the industry and a published writer. She has published many articles on economic and community development, health, climate and impact investing. Donovan has been a keynote speaker and guest lecturer to share her extensive knowledge. She has an undergraduate degree in Economics and an MBA in Finance.

Job Titles:

• RDF Board Vice Chair / Chief Operating Officer, BlueHub Capital

Job Titles:

• RDF Governing Board Chairman

Mr. Ortega is presently with the Ortega Law Firm, a firm that concentrates on serious personal injury and wrongful death cases. He is a member of the Arizona State Bar, American Trial Lawyers Association, American Bar Association, Maricopa County Bar Association and Los Abogados Hispanic Bar Association. As a part of his pro bono practice, Mr. Ortega has had the opportunity to participate and litigate a host of cases involving civil and voting rights, and employment law. Mr. Ortega serves on the Board of Directors of the Cesar Chavez Foundation and Los Abogados Hispanic Bar Association. He previously served as chairman of the Board of Directors of UnidosUS (formerly

Job Titles:

• Board Member / Chief Executive Officer, Appalachian Community Capital

Job Titles:

• Board Member / EVP, Director of Community Development Banking PNC Bank
• EVP, Director of Community Development

Job Titles:

• Evergreen Board Member / President & Chief Executive Officer, UnidosUS

As someone who has experienced the promise of the American Dream firsthand, Ms. Murguía has devoted her career in public service to opening the door to that dream to millions of American families. Now, as a key figure among the next generation of leaders in the Latino community, she continues this mission as President and CEO of the UnidosUS (formerly National Council of La Raza), the largest national Latino civil rights and advocacy organization in the United States.

Job Titles:

• Board Secretary / President & CEO, Community Development Trust

Mr. Reilly has spent four decades in community development and affordable housing finance. Currently, Mr. Reilly is the President and CEO of Community Development Trust (CDT), a real estate investment trust with a public purpose to provide long-term capital for the preservation and development of affordable housing. CDT has invested $1.5 billion in debt and equity capital during its 19 years of operations, helping to preserve or add more than 45,000 units of affordable housing stock in 44 states. In 2015, CDT developed a charter school finance program to provide flexible, long-term capital to charter schools in low-income communities that serve low-income children and have a track record of achieving excellent results. Prior to working at CDT, Mr. Reilly was the national manager for community development real estate at JPMorgan Chase, where he was responsible for deploying more than $4 billion in financing for affordable housing and community development projects. Mr. Reilly completed the General Management Program at Harvard Business School and earned his BS in business administration from Iona College. Mr. Reilly also serves on the Board of Directors of the Leviticus Fund. He previously served on the Advisory Boards of Enterprise Community Investments, Low Income Investment Fund, and Neighborhood Housing Services of New York City. Mr. Reilly also was an Adjunct Professor for real estate finance at NYU from 2007 - 2014.

Job Titles:

• Deputy Chief Financial Officer & Controller
• RDF 's Deputy Chief Financial Officer & Controller

Juan Madrid serves as RDF's Deputy Chief Financial Officer & Controller. Mr. Madrid oversees RDF's accounting operations, evaluates internal controls, ensures compliance with regulatory agencies, and coordinates the audits and tax returns for the organization and 29 special-purpose entities. Prior to joining RDF in 2008, he held accounting positions at Heraeus, Inc., ConocoPhillips, and the Arizona Society of CPAs, where he acquired over 10 years of accounting experience. A first-generation college graduate, he earned a B.S. in accounting and a B.S. in computer information systems from Arizona State University and holds a CPA license and a Real Estate license in the state of Arizona. Mr. Madrid was born in San Luis Rio Colorado, Sonora, Mexico and grew up in Yuma, AZ before moving to Phoenix in 1996 to attend Arizona State University.

Job Titles:

• Board Member / Chief Executive Officer, Mission Economic Development Agency

Job Titles:

• Board Member / President & CEO of the Los Angeles Area Chamber of Commerce
• President & CEO of the Los Angeles Area Chamber of Commerce

Maria S. Salinas is the President & CEO of the Los Angeles Area Chamber of Commerce, the largest business association in Los Angeles County representing member companies and serving the interests of more than 235,000 businesses across the Los Angeles region. Ms. Salinas took the helm of the organization in August of 2018 and became the first woman and Latina to lead the Chamber in its 132-year history. An accomplished business woman, entrepreneur and a determined community leader, Ms. Salinas' business acumen and financial expertise provides her with the right experience to lead the L.A. Area Chamber. Ms. Salinas, a steward of the Chamber's new vision, "A Thriving Region for All," has re-imagined the role of the Chamber. The Chamber looks to the future with a vision to build an inclusive economy and lead in three pillar areas of focus: advocacy work, global engagement and through community collaboration for economic growth and mobility. The Los Angeles region, which is the 14th largest economy in the world, and the Chamber membership represents a broad spectrum of industries, small businesses, corporations, academic institutions and nonprofits, which are all examples that the Los Angeles economy is diverse, dynamic and that business is a force for good. Ms. Salinas is an appointee to Governor Gavin Newsom's Commission on the Future of Work and named to his Business and Jobs Recovery Task Force. She was appointed to the US Chamber of Commerce's Committee of 100, a distinction reserved for the top 100 Chambers across the country. She represents the Los Angeles business community in state- wide policy initiatives with the Coalition of Regional Economic Association Leaders (R.E.A.L.), she is a member of the Board of Directors of Mobility 21, a regional transportation effort, and an appointee of Mayor Eric Garcetti to the MEXLA Commission, a foreign policy initiative between Mexico and Los Angeles. She serves on the Board of Directors of The Music Center, Pacific Council, UnidosUS and Southern California Leadership Network among others. Ms. Salinas lives in Pasadena, California, with her husband and their four sons.

Job Titles:

• Chief Operating Officer

Melissa McDonald, Chief Operating Officer, is responsible for the operations of all lending components and systems, capitalization strategies, investment management, and new product development. Ms. McDonald assumed her current role in October 2018, having previously served as RDF's Deputy Chief Investment Officer, where she led the Specialty Finance Team - an inter-disciplinary group of impact investment professionals that provide custom-tailored financing solutions for complex structured transactions involving public/private partnerships, traditional debt, grant capital, and/or tax credit financing, nationwide and was responsible for RDF's New Markets Tax Credits (NMTC) platform to include the deployment of over $200 million in NMTC authority. Prior to joining the fund in 2012, Ms. McDonald worked at Gannett Company, where she held senior management positions in Human Resources, providing local and regional support for union and non-union employees. She is experienced in policy and procedure development, employee relations, compliance management, compensation, and organizational development. Ms. McDonald earned a bachelor's degree in Multi-Disciplinary Studies from the University of Texas at El Paso; and received a Juris Doctor from Michigan State University School of Law. She is also a graduate of Southern Methodist University's Cox Executive Development Program and Stanford's University Graduate School of Business The Emerging COO: Driving Innovation and Operational Excellence.

Job Titles:

• Chief Communications Officer

Monica Ballesteros currently serves as Chief Communications Officer at Raza Development Fund. She joined RDF in February of 2020 as Department Coordinator and transitioned to Department Director within the year. In her current role she provides visionary and creative leadership while overseeing the development and implementation of corporate communication goals and objectives, marketing strategies, social media tactics, brand management, collateral materials, media, and community partner relationships, reporting, and sponsorships. Monica has over 20 years of experience in the Public Relations and Communications field, mainly with nonprofit organizations in Arizona and Mexico. As a teenager, she discovered her passion and vocation to learn and teach the skills and tools used in the corporate business world to make nonprofits and grassroots organizations achieve success in the Latino community, reach their mission, and ultimately become the beacons of hope and solutions our communities need. She has studies and certificates in Business Administration from both the US and Mexico. Monica is fluent in English, Spanish and Italian. A native Phoenician, she had the opportunity and privilege to grow up in a bi-cultural, bilingual community-building environment. Monica spends her spare time as an avid promoter and conservationist of the Sonoran Desert. She has spent the last 12 years supporting the appreciation and conservation of the natural resources, gastronomy, arts, and culture of one of the world's most rich bioregions and hottest deserts in US and Mexico. Over the years, she has developed a track record as a community leader.

Job Titles:

• Chief of Staff
• RDF 's Chief of Staff

Ruby Marinez serves as RDF's Chief of Staff. She joined the RDF Familia in August of 2018 and has since been instrumental in handling logistics for the President's Office and Board of Directors. She plans Board of Directors meetings and otherwise ensures leadership activities run smoothly and efficiently. Ruby enjoys the variety of her work at RDF. Every day she has new experiences and participates in different types of projects from engaging with investors to meeting members of the community. Ruby feels very fortunate to work for an organization whose mission connects to her values, a priority she has held her entire career. Prior to RDF, Ruby worked as Rights & Contracts Administrative Assistant for InterVarsity Press for four years, a faith-based organization that provides tools for spiritual growth. Before that she served seven years as Assistant to the Publisher at La Voz Publishing, an organization dedicated to sharing stories of a community for the community. Ruby is a valued asset not only to RDF, but to her community. She volunteers with small church groups and worship teams, and otherwise has an innate compassion for others. Born in Nicaragua, her immigration experience as a child fuels her passion to serve. She remembers the immense generosity her family received from others and her father's words to never forget where she came from and always give back.

Job Titles:

• Chief Credit Officer

Scott Richter, Chief Credit Officer, joined RDF in 2015, as Director of Credit Administration before transitioning into his current role in 2016 where he oversees all aspects of portfolio management including loan structuring and approvals, credit policy and procedures, loan operations, and special assets. His career spans more than two decades in the commercial banking and finance industry, with broad industry knowledge of credit products for small and middle market companies. Scott began his career in commercial finance with banks in the Southeast, advancing through a variety of roles in credit, business development, and management. Prior to joining RDF, he worked at GE Capital for over 11 years in roles of increasing responsibility, culminating with the role of Vice President of Underwriting & Portfolio Management with responsibility for a $4 billion loan portfolio. In this role, he served as primary contact for the FDIC during Safety & Soundness exams. Scott currently serves on the Board of Directors and Finance Committee for NOAH, a Federally Qualified Health Center in Phoenix. He has also served on the Board of Directors of the Arizona chapter of the Risk Management Association and is a member of the Council of Development Finance Agencies. Mr. Richter holds a Bachelor of Arts in Finance from Wofford College; and has completed advanced management and leadership courses at GE's John F. Welch Leadership Development Center in Crotonville, New York. Some of Scott's professional accomplishments include: a key role in RDF's first $50 million capital markets offering; leadership of a $500 million asset contribution project; and numerous successful loan restructures, including one for $35 million during the Great Recession that resulted in no loss to the lending institution. Scott is a proud father of three, an avid cook, loves puzzles, and enjoys painting as time allows. Growing up in Scouting, he finds time to enjoy hiking, camping, and the great outdoors. He believes that true leadership comes through service to others.

Job Titles:

• Chief Financial Officer

Tony Lopez serves as Raza Development Fund's Chief Financial Officer. He is responsible for directing all financial, accounting, and treasury functions for the fund; and participating with the Executive Leadership Team in the development of the organizational strategy. After joining RDF in 2012, Tony held multiple roles in the organization. Previously, Tony served as the Deputy Chief Financial Officer of RDF, where he collaborated in negotiating and closing over $250 million in credit facilities with Banks, Public Debt, and US Treasury. He managed all quarterly compliance reporting with banks and investors; and acted as the lead point with the US Treasury's CDFI Fund $100 million credit facility; has been actively involved in the reporting to the Board of Directors. Before serving in this capacity, he served as Director of Financial Planning and Reporting. Prior RDF, Mr. Lopez spent 16 years working in corporate America where he held the roles of Director of Finance and Sr. Financial Analyst for publicly traded multinational organizations in the staffing, aerospace, travel and retail industries. Achievements: Certified Public Accountant (CPA) since 2005 Chief Financial Officer Program, Columbia Business School, 2021 Corporate Governance Certificate Registered Public Accountant in Arizona since 2005 Completed Corporate Executive Development Programs at Southern Methodist University-Cox School of Business MBA from Keller Graduate School of Management Serves as an Executive Board Member for Friendly House