NFF Hires Kareem Thomas as Chief Credit Officer; Names Bhavani Daryanani as Chief Financial Officer
New York (March 4, 2025) — Nonprofit Finance Fund (NFF) has made two appointments to its executive team.
Kareem Thomas has joined NFF as Chief Credit Officer. He will oversee credit policies and the performance of NFF’s growing loan portfolio and support financial product innovation. Thomas has a track record of using community development investment strategies to advance community well-being, drive sustainable economic growth, and advance racial equity.
“Kareem has extensive experience in credit risk management and a dynamic and people-centered way of approaching lending that maps to our ambitious goals and deep commitment to the nonprofits and communities we all serve,” said Benson. “Kareem embraces the transformative power of finance and we are proud that he has joined our team.”
Thomas most recently served as Chief Credit and Lending Administration Officer at Reinvestment Fund and brings more than 25 years of financial services experience. His previous leadership roles in finance and banking include serving as Chief Financial Officer for a national literacy solutions company and leading commercial lending, portfolio management, and small-business banking regions at Wells Fargo, Citizens Bank, and Citibank. Since 2022, he has served as a Commissioner on the Philadelphia Commission on Human Relations – the City’s official civil rights agency, and was recently appointed Chair of the Commission.
“My experiences growing up in North Central Philly shaped how I see community development as an opportunity to build equitable prosperity,” said Thomas. “We need to make it easier for people to develop the facilities and deliver the services that are the foundation of healthy and vibrant neighborhoods. I am excited to join NFF at this pivotal moment to help advance economic opportunity for communities, one block at a time!”
Bhavani Daryanani has been named Chief Financial Officer after serving in the role on an interim basis for the past three months. She will oversee NFF’s financial policies, planning, accounting, and reporting. Daryanani has more than 20 years of experience in the sector, bringing deep expertise in community development finance and using financial strategy and innovation to drive economic equity and social change.
“Bhavani quickly earned our trust and admiration, and we are thrilled to have her join as a permanent member of our team,” said Aisha Benson, President and CEO of NFF. “Her bold vision and technical acumen will serve NFF and our clients well.”
Daryanani’s previous roles include Interim CFO at Capital for Change, Chief Operating Officer at Connecticut Housing Finance Authority, and Managing Director at Federal Home Loan Bank of San Francisco. She held senior positions at Deutsche Bank and MetLife Real Estate Investment Management and was a graduate program professor at New York University. She currently serves on the boards of Connecticut Housing Partners, an affordable housing developer, and Community Vision, a community development financial institution based in San Francisco.
“For decades, NFF has deployed capital and consulting to help nonprofits meet evolving opportunities and challenges, and has used its expertise to advocate for systemic improvements to the way we fund social good,” said Daryanani. “I’m excited to join NFF’s experienced and passionate team.”
The appointments come as NFF’s portfolio continues to grow amid significant philanthropic support, CDFI Fund and New Markets Tax Credit allocations, and the launch of a dedicated loan fund backing community ownership of assets.
“Bhavani and Kareem will help NFF to use its financial strength to accelerate community impact and meet the needs and aspirations of people in neighborhoods across the country at this critical time,” said Benson.
Daryanani is based in New York and Thomas is based in Philadelphia. Both will report to Benson.
About Nonprofit Finance Fund
Nonprofit Finance Fund® (NFF®) is a nonprofit lender, consultant, and advocate. For more than 40 years, we’ve helped organizations access the money and resources they need to realize their communities’ aspirations. Alongside others, we’re working to build economic equity and put affordable housing, essential services, quality jobs, and excellent education within reach of more people. As a community development financial institution (CDFI), NFF manages a portfolio of over $351 million. Since 1980, we have provided over $1.2 billion in financing and access to additional capital in support of over $4.1 billion in projects for thousands of organizations nationwide. To learn more, visit https://nff.org/.