Seven-member advisory group to guide investment of $25 million fund in high-impact, community supported real estate projects in the Philadelphia Metro Region   

PHILADELPHIA, PA (May 15, 2025) – TD Bank and CEI-Boulos Capital Management announce the appointment of the Social Impact Advisory Board for the 481 CEI-Boulos Impact Fund, a $25 million real estate equity investment fund with TD Bank as the sole investor.  

The 481 CEI-Boulos Impact Fund is designed to support individuals and communities through investments in high-impact, community supported, commercial real estate projects located within the bank’s Community Reinvestment Act (CRA) assessment areas in the Philadelphia Metro Region, including counties in Pennsylvania, Delaware and New Jersey. 

The Social Impact Advisory Board will review proposed investments based on each project’s social and environmental impact, alignment with community needs and community support. Areas of the fund’s targeted impact include: 

• Supporting job creation 
• Affordable and workforce housing 
• Neighborhood revitalization/historic preservation developments that do not contribute to displacement of current residents
• Developments that serve nonprofit organizations 
• Environmentally sustainable and transit-oriented real estate developments

“TD Bank is proud to invest in solutions for the communities that we serve, and we’re excited for the vital role the Social Impact Advisory Board will play in the 481 CEI-Boulos Impact Fund’s mission,” said Hugh Allen, Head of Commercial Real Estate, TD Bank. “This group of committed experts will ensure significant results come to the Philadelphia region and beyond.”

The 481 CEI-Boulos Impact Fund is managed by CEI-Boulos Capital Management, a fund management company focused on delivering competitive financial returns and social impact. CEI-Boulos helps banks achieve their CRA objectives by organizing and managing funds that invest in financially attractive, high-impact commercial real estate projects that benefit the communities in which they are located. CEI-Boulos prioritizes projects that represent collaborations between various entities – including nonprofits, local and state government, philanthropic institutions, banks, community development finance institutions, community-based organizations, private investors, and local developers—that share a vision for their community. 

“The Social Impact Advisory Board will provide useful input on the social, environmental, and community impact of the 481 CEI-Boulos Impact Fund’s potential investments,” said Sam Spencer, Chief Executive Officer and Managing Director, CEI-Boulos Capital Management. “The advisory board is just one example of our fund’s innovative approach.”  

The fund’s investments are focused on redevelopment and new construction projects, such as multi-family, mixed-use, industrial, office, retail and hospitality projects that closely align with community needs. The targeted area for the investment by the fund includes the following counties: New Castle County in Delaware; Burlington, Camden, Gloucester, and Salem Counties in New Jersey; and Bucks, Chester, Delaware, Montgomery, Philadelphia Counties in Pennsylvania.

The Social Impact Advisory Board is comprised of seven individuals, all with deep experience in community impact investing. 

Adriana Abizadeh is the executive director of Philadelphia-based Kensington Corridor Trust (KCT). The mission, duty, and purpose of the KCT is to utilize collective ownership to direct investments on the corridor that preserve culture and affordability while building neighborhood power and wealth in Kensington. Adriana is also a policy fellow at Princeton University and Rutgers University. Adriana has a BA in Political Science from Rutgers University with a minor in Security Intelligence and Counter Terrorism. She also has an MS in Public Policy from Drexel University.

Daniel Betancourt has been President and CEO of Finanta (formerly Community First Fund) since 1999. He has over 25 years of experience in community economic development lending. Under Dan’s leadership, Finanta has grown into a regional Community Development Financial Institution (CDFI), attracting multi-million dollar investments and with nearly $200 million under management. Dan is a member of the Federal Reserve Bank’s Consumer Council. He is also a member of the Federal Reserve Bank of Philadelphia’s President’s Council, and previously served on its Economic and Community Advisory Council. Dan serves as the Chair of the Pennsylvania Community Development Financial Institution and currently chairs Partners for the Common Good, a Washington DC based CDFI. He serves on the board of directors for the Expanding Black Business Credit Initiative, Greater Philadelphia Hispanic Chamber of Commerce, Impact Services of Philadelphia, AAA Central Penn, and Elizabethtown College.

Betsy Biemann is Chief Executive Officer at Coastal Enterprises, Inc. (CEI), a community development financial institution headquartered in Brunswick, Maine and serves on the New Growth Innovation Network (NGIN) board.  Prior to joining CEI, Betsy led the Maine Food Cluster Project of the Mossavar-Rahmani Center for Business and Government at Harvard University and was a consulting advisor to businesses, nonprofit organizations and social enterprises in Maine and nationally. She previously served as President of the Maine Technology Institute, which invests in Maine companies and initiatives seeking to grow high-potential sectors of Maine’s economy.  Prior to that, she was an associate director at The Rockefeller Foundation in New York City, where she managed a national grant program and impact investment portfolio aiming to increase employment and economic mobility in low-income communities.  Betsy graduated with a B.A. from Harvard University and an M.P.A. from Princeton University’s School of Public and International Affairs.

Susan Frank serves as Executive Vice President, Agency Lending at Cinnaire, leading the organization’s Fannie Mae, Freddie Mac, and HUD/FHA mortgage lending program through its cooperative ownership in CPC Mortgage Company. Susan has worked in the affordable housing industry for more than 25 years. Before joining Cinnaire, she worked at Fannie Mae for 12 years, most recently as Director of Customer Account Management in the company’s Multifamily Mortgage Business. Prior positions with Fannie Mae included managing the company’s CDFI product and as the Director of the Delaware Community Investment Center. From 1993-2000, Susan worked as Executive Director of the Delaware State Housing Authority (DSHA), a statewide housing finance agency and local public housing authority and community development agency. She served as a Member of the Governor’s Cabinet and the Governor’s Family Services Cabinet Council. Prior to her position at DSHA, Susan served as Chief Legislative Advisor to then-Rep. Tom Carper (D-DE) on all matters before the U.S. House of Representative’s Banking Committee and Housing Subcommittee.  Susan earned her B.A. from the University of Delaware.

Jimmy Gastner is a Community Development Manager for TD Bank. In this role, Jimmy ensures that the Pennsylvania-New Jersey market meets its Community Reinvestment Act goals and objectives, making TD The Better Bank for community and economic development. To do this, he connects with community and municipal leaders to understand and help address pressing local issues. Jimmy also collaborates with lines of business and the TD Charitable Foundation to provide a full range of financial products and services that further economic development initiatives critical to affordable housing, neighborhood revitalization, community service, and small business development. Prior to joining TD Bank in August 2022, Jimmy was a Community Engagement Associate with the Federal Reserve Bank of Philadelphia. Jimmy has also held positions at the Urban Institute with its Research to Action Lab. Jimmy holds an MBA from the Villanova School of Business and BA in Economics and Political Science from Swarthmore College.

Jodie Harris has served as president of PIDC since June 2023. As president of PIDC, Jodie works with the City of Philadelphia and Greater Philadelphia Chamber of Commerce—along with stakeholders in the business, civic, and philanthropic communities—to support small businesses, attract investment, and spur development throughout Philadelphia. Before joining PIDC, Jodie served in multiple leadership roles at the U.S. Department of the Treasury, including program manager, senior advisor, director of community and economic development policy and four years as director of the Community Development Financial Institutions Fund (CDFI Fund). Prior to her work in government, she held various roles in community economic development as a credit analyst at Meridian Bank, a consultant and strategic planning manager at Accenture, and a research analyst at NYU’s Institute for Education and Social Policy. Jodie is a native of Philadelphia. She holds a bachelor’s degree in finance and international business from the University of Maryland and has also earned two graduate degrees from New York University: an MBA in finance and management and an MPA in public policy.

Eleanor Sharpe is the principal and founder of Sharpe Solutions: Cities, Places, and People, an esteemed planning consulting and advisory firm focused on bringing innovative approaches to urban development and community empowerment.  Sharpe also currently serves in an advisory position to the City Council of Philadelphia in the Council President’s office as Chief of Planning & Development. With a distinguished career spanning over a decade with the City of Philadelphia, Sharpe’s prior position was as Interim Deputy Mayor/Director of the Department of Planning and Development where she oversaw bodies such as the Philadelphia City Planning Commission, the Philadelphia Historical Commission, the Philadelphia Art Commission, and the Zoning Board of Adjustment.  She has also served as an adjunct professor in city planning and architecture at Temple University, Drexel University, and the University of Pennsylvania over the past two decades. Sharpe graduated with a Bachelor of Architecture degree from Howard University and a Master’s in City Planning degree from the University of Pennsylvania

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About TD Bank, America’s Most Convenient Bank^® 

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S. by assets, providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth^®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Instagram at www.instagram.com/TDBank_US/.  

 TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 North American bank. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com/us. 

About CEI-Boulos Capital Management 

CEI-Boulos Capital Management is a real estate investment fund management company focused on delivering both competitive financial returns and social impact. The company serves banks, family offices, and other institutional investors, and has a national scope. Areas of the company’s specialization include Opportunity Zones and the Community Reinvestment Act (CRA). Learn more at www.ceiboulos.com.