Performance Counts was an industry-led collaborative effort to develop industry standards and best practices around financial statements and financial management. It served as an industry forum for sharing information, documents, and ideas on these topics.

The effort included an industry-led CFO working group by CDFIs for CDFIs to develop standards and best practices for CDFI financial statements and management. It also included a forum among CDFI CFOs and finance professionals, which featured webinars, meetings, and an online forum to facilitate CDFI exchange of documents, ideas, resources, best practices, and other information.


The goals of Performance Counts included the following:

Achieve greater consensus within the CDFI industry around financial metrics, financial statements, financial reporting, and financial management

Lead to streamlined financial reporting and clearer messaging by CDFIs

Enable increased access to capital sources as it becomes easier for current and prospective investors to better understand CDFI financial statements, financial performance, and financial wherewithal

Working Group and Advisors

The following CDFIs participated in the working group to review the issues and arrive at the recommendations and guidance discussed in working group papers. These recommendations were endorsed by the working group members.

  • Capital Impact Partners
  • Chicago Community Loan Fund
  • Corporation for Supportive Housing
  • Craft3
  • FAHE
  • Low Income Investment Fund
  • New Hampshire Community Loan Fund
  • New Jersey Community Loan Fund
  • Northern California Community Loan Fund
  • Opportunity Finance Network
  •  The Progress Fund
  •  The Reinvestment Fund
  • Self-Help Ventures Fund

Additionally, a number of experts provided accounting advice and guidance to the Working Group to ensure the information and recommendations presented in this paper were compliant with GAAP and other accounting guidance.

  • Alexander, Aronson, Finning & Company
  • CohnReznick LLP
  • Novogradac & Company LLP

OFN coordinated with Aeris to ensure that this effort was complementary to the data collection platform that Aeris had developed. The Working Group also received input from many other CDFIs, CDFI funders and investors, and industry advisors.


Performance Counts published periodic white papers that addressed specific financial statement topics with the goal of encouraging wide participation and sharing of recommendations on how to present financial information in a more clear, standard, and transparent way to both internal and external stakeholders of CDFIs.

White Papers



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