Nonprofit Spotlight: Cinnaire

BY AMANDA SCHIMMEL

With more than 30 years of investing in Delaware communities, Cinnaire serves as a bridge between banks and communities, investing in high-impact projects that traditional lenders may avoid due to perceived risks. These projects— spanning affordable housing, community facilities, and other transformative initiatives—are designed to uplift individuals and neighborhoods.

Originally known as the Delaware Community Investment Corporation, the organization merged with the Great Lakes Capital Fund in 2013, significantly expanding its footprint across the MidAtlantic and Midwest regions.

“At Cinnaire, we believe in investing in people and places to transform lives and create sustainable opportunities for all,” says Vice President of Community Connection Dionna J. Sargent.

Guided by its theory of change, Cinnaire prioritizes economic equity, ensuring that its financial investments benefit developers, residents, and holistic community development. By leveraging tools such as Low-Income Housing Tax Credits, investments, and loans, Cinnaire has supported impactful projects, including the Village of St. John (Ministry of Caring), Amani Village (REACH Riverside), and The Flats (Woodlawn Trustees/HDC Mid Atlantic).

A key component of Cinnaire’s policy and advocacy work is collaboration, which plays a significant role in its operations. With a current shortage of 22,000 housing units in Delaware, Cinnaire works alongside organizations like the Housing Alliance of Delaware and the Delaware Affordable Housing Coalition to advocate for increased state funding to support affordable housing development and preservation.

“Beyond housing, we also invest in community facilities that bring essential services to neighborhoods, such as the Henrietta Johnson Medical Center in Southbridge,” adds Sargent. “A big part of our work involves engaging with the communities to identify gaps in existing funding tools, develop new solutions for both large- and small-scale projects, and ensure that residents—those who know their neighborhoods best—are central to shaping the priorities and needs of their communities.”

In 2020, Cinnaire launched Jumpstart Wilmington to empower and train aspiring real estate developers in the area. Recognizing barriers to traditional financing, particularly for emerging developers, Cinnaire also created a loan program to support the participants’ projects.

“Oftentimes, it’s very challenging for new developers to obtain access to capital, but they can be very capable of developing property with the right tools and network,” Sargent says. “We created this loan program to break down those barriers for underrepresented developers.”

Another initiative, the Catalyst Fund, helps developers overcome financial obstacles. In partnership with the Delaware State Housing Authority, this program combines construction financing with gap subsidies to cover the difference between rehabilitation costs and sale prices. Funded through ARPA dollars, the program also includes a developer fee incentive. Homes created through the program will be sold to individuals or families earning up to 120% of the area median income, which Sargent says “addresses housing needs across various income levels during the ongoing affordable housing crisis. This is our working class—our teachers, our nurses, our service workers—who directly benefit from this program.”

Above all, Cinnaire’s success stems from its core values: integrity, honesty, and transparency. These principles, combined with an entrepreneurial spirit, inspire a collaborative environment where team members feel empowered to share ideas and improve outcomes. “Our team works and lives by these principles, and it’s evident in our longlasting commitment to bettering our communities every day,” finishes Sargent.