Community Development Financial Institutions (CDFIs) play an essential role in fostering economic growth and supporting development in communities underserved by traditional financial institutions. To maintain their status as a certified CDFI, and continue delivering on their mission, CDFIs must submit the Annual Certification and Data Collection Report (ACR) on an annual basis. Here is why the ACR is so crucial and what could happen if it is not submitted on time and completed accurately.

Why the ACR Matters

Snap Stat is an occasional blog series that uses CDFI Fund data to illuminate the work of CDFIs and other organizations that are directly served by the CDFI Fund. View Snap Stat #2 at the below link.

Snap Stat #1: Sizing Up Certified CDFIs

The Community Development Financial Institutions Fund’s (CDFI Fund) Capital Magnet Fund (CMF) resumed accepting CMF Performance Reporting data in the CDFI Fund’s Awards Management Information System (AMIS) on February 7, 2025.

In August 2024, the CDFI Fund paused the acceptance of CMF Project and Award Performance Report(s) to prepare for the launch of revised requirements in AMIS. Changes have been completed in AMIS to support Recipient reporting on CMF Award activities for all award years in order to:

Interested in applying to the upcoming fiscal year (FY) 2025 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program)? The Community Development Financial Institutions Fund (CDFI Fund) is tentatively planning to open the FY 2025 CDFI Program and NACA Program Application round this winter. Now is a great time for organizations to begin preparing to apply for a CDFI Program or NACA Program award.