Annually, the Community Economic Development Association of Michigan (CEDAM) recognizes a Leader of the Year. They look for a member who has engaged in creative programming, been involved in an exciting new development, and/or is pushing the needle to facilitate equitable change.
This year, Elissa Sangalli, President of Northern Initiatives, was one of two awardees. Shortly after Elissa was named President of Northern Initiatives in 2020, she started working on a statewide coalition that would make Michigan’s Community Development Financial Institutions stronger, nimbler, and bolster their efforts in community investment across the state. Sangalli and other members of the newly founded coalition got to work to advocate for more public support for CDFIs.
When the Michigan CDFI Coalition launched in 2023, they successfully collaborated with the State of Michigan to create the largest state CDFI fund in the nation, totaling $85 million to date. So far, Michigan’s CDFIs have:
• Deployed more than $4 billion in loans through the state
• Created almost 30,000 permanent jobs
• Developed 23 million square feet of real estate.
Under Elissa’s leadership, the coalition hopes to make the fund permanent, increase its membership, grow its committee work, and more.
Ted Fines, Executive Director of Habitat for Humanity Northeast Michigan, which serves home repair needs over 11 counties, is also a Leader of the Year.
