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Arizona · Nonprofit

RAZA DEVELOPMENT FUND INC

RAZA DEVELOPMENT FUND INC (Arizona) receives grants from 13 organizations whose IRS filings report $9,834,197 to it, the largest being GATES FOUNDATION ($7,050,000). 4 of them have funded it in more than one year.

Revenue FY2025
$44M
Funders on record
13
Grants received
$9.8M
Net assets
$131M
4/13 repeat funderspeak grant-dependency 31%
01What it does

What Raza Development Fund Inc does

Mission

Rdf is unlocking lasting prosperity in communities across america.

As stated on its FY2025 Form 990.

Program

  1. Loan fund programs: lending programs to assist low income communities by increasing access to capital. Loans approved 43.

    $20,904,888 spentof which $1,265,000 as grants$20,878,208 earned by the program
    100% of program spending

The program described on its FY2024 Form 990. Program spending in total: $20,904,888.

02The organization over time

The organization over time

Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.

100 = 20172017 Revenue 100 ($19M) Expenses 100 ($13M) Net assets 100 ($65M)2018 Revenue 89 ($17M) Expenses 95 ($12M) Net assets 108 ($70M)2019 Revenue 89 ($17M) Expenses 127 ($17M) Net assets 109 ($70M)2020 Revenue 102 ($20M) Expenses 131 ($17M) Net assets 112 ($72M)2021 Revenue 119 ($23M) Expenses 128 ($17M) Net assets 122 ($79M)2022 Revenue 247 ($48M) Expenses 188 ($25M) Net assets 158 ($102M)2023 Revenue 135 ($26M) Expenses 158 ($21M) Net assets 167 ($108M)2024 Revenue 132 ($26M) Expenses 180 ($24M) Net assets 174 ($112M)2025 Revenue 228 ($44M) Expenses 199 ($26M) Net assets 202 ($131M)
'17'18'19'20'21'22'23'24'25
Revenue (228)Expenses (199)Net assets (202)Peer revenue range

Balance sheet

Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2022 to 2023, from $297M to $335M (+13%).

$177M
$211M
$233M
$268M
$287M
$297M
$335M
$363M
$378M
'17'18'19'20'21'22'23'24'25
Total assetsTotal liabilities

How it's funded, over time

Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.

2017
2018
2019
2020
2021
2022
2023
2024
2025
ContributionsProgram revenueInvestmentOther

Government-grant reliance: 2018 19% · 2022 39% · 2023 24% · 2024 1% · 2025 42%. Grants only. Government contracts and fees sit inside program revenue.

47% of RAZA DEVELOPMENT FUND INC’s revenue is contributions — about as donation-reliant as the typical peer (61% for the typical peer).

This organization
Typical peer · 696 orgs

Surplus & reserves

Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 9 reported years ran a deficit.

$6.4M
’17
$4.8M
’18
$657k
’19
$2.7M
’20
$6.5M
’21
$24M
’22
$5.6M
’23
$2.0M
’24
$18M
’25
31
months of
reserve

Leadership and staff

The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.

Chief executive

Mary Ann Donovan

President & CEO

Board chair

Daniel Ortega

Board chair

As listed on its FY2025 Form 990.

'17'18'19'20'21'22'23'24'25
Listed191925242321242322
Joined·+2+7+1+0+1+4+2+4
No longer listed·21213135
03Who funds it

Who funds it, year by year

2017 → 2022: the base broadened from 1 funder to 4 funders, grant income fell $6.0M → $346k.

2 of 13 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 1% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.

From the IRS filings of RAZA DEVELOPMENT FUND INC’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How concentrated its funding is

RAZA DEVELOPMENT FUND INC leans on a few funders — its largest provides 72% of grant income and the top three 84%; half comes from just 1 funder.

the vertical line marks half of all grant income — 1 funder to its left

72%
largest funder
84%
top three
~2
effective funders

Largest funder’s share by year: 2017 100% · 2018 100% · 2019 84% · 2020 81% · 2021 90% · 2022 72% — diversifying over time.

“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How long its funders stay

75% of RAZA DEVELOPMENT FUND INC's funders are still giving 2 years after their first grant; 31% give in more than one year at all.

first grant+1y+2y

Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2022, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.

Where its funders are

RAZA DEVELOPMENT FUND INC draws 99% of its grant income from funders outside Arizona, across 9 states in all.

WA
MN
MI
NY
OH
VA
AZ
NC
DC

In-state vs out-of-state, by year

’17
’18
’19
’20
’21
’22
Arizona out of state home

Funder states come from each funder’s own filing. $132k arriving through sponsors registered in 1 state is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

04Its place in the field

Against its field

RAZA DEVELOPMENT FUND INC runs a healthier operating margin than three-quarters of the 328 community improvement nonprofits its size.

Operating margin41% · top quartile
Months of reserve30.5mo · top quartile
Revenue growth (annualized)11% · above the median

this organization peer median middle 50% of peers· 328 community improvement nonprofits $10M–$100M, FY2025

Government funding RAZA DEVELOPMENT FUND INC receives

Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $50.4M on record — $50.4M federal, $486 state.

Federal$50.4M
grants $50.4Mcontracts $0
17
20
21
22
23
24
Top agencies
  • Department of the Treasury$30.4M
  • Department of Education$20.0M
State$486
Top programs
  • REFUNDS - GENERAL $486

Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.

Organizations like RAZA DEVELOPMENT FUND INC

Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.

In Arizona

Nationally

05Profile & governance

Read directly from this organization’s own Form 990, as neutral context.

Where the money goes

80% of spending goes to programs.

Program 80%Management 19%Fundraising 1%

Governance

10
board members
80%
independent
✓Conflict-of-interest policy✓Whistleblower policy–Document retention✓Board reviewed the 990✓Audited financials

Footprint & structure

Files a return copy in 1 state

AZ

Part of a family of 40 related entities

  • Raza Community Ventures LLC (Rcv) · disregarded
  • Rdf Fund Manager LLC (Rdffm) · disregarded
  • Unidosus · exempt
  • Unidos Investment Fund Inc · exempt
  • Partnerships of Hope XII LLC · partnership

Screen this organization

A dated, signed PDF of the compliance screen for RAZA DEVELOPMENT FUND INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.

A paid feature, included from the $75 plan up. Sign in to download.

Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf

Questions and answers

Who funds RAZA DEVELOPMENT FUND INC?
RAZA DEVELOPMENT FUND INC (Arizona) receives grants from 13 organizations whose IRS filings report $9,834,197 to it, the largest being GATES FOUNDATION ($7,050,000). 4 of them have funded it in more than one year.
How many funders does RAZA DEVELOPMENT FUND INC have?
IRS filings report 13 organizations giving $9,834,197 in grants to RAZA DEVELOPMENT FUND INC, 4 of which have funded it in more than one year.
Who is the largest funder of RAZA DEVELOPMENT FUND INC?
GATES FOUNDATION is the largest funder on record, with $7,050,000 in grants. The full list of funders is on this page.
How can an organization like RAZA DEVELOPMENT FUND INC find more funders?
Start with the funders already giving here, then look at the foundations that back similar organizations in Arizona. The funding by cause and by state pages list the largest funders for a given area and how to approach them.

These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 13 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing