It has been an exciting and productive year at the Community Forward Fund (CFF) and the Community Forward Fund Assistance Corp (CFFAC). Following on the official opening of the Fund, CFF received its first investments and loan applications, and we are pleased to be working with the first borrower-organizations.
It is with mixed emotions that I let you know that, due to personal circumstances, Nora Sobolov, our current CEO is moving to California with her family. While she’ll be stepping down from her role as CEO, and Ultimate Designated Person (UDP) for the Fund, I’m delighted that she has agreed to stay on in a consulting capacity as senior advisor and chief entrepreneur. As co-founder, and with her deep knowledge across many sectors, her continued involvement is much valued and appreciated by the board, staff and partners. She is equally pleased to continue supporting CFF, CFFAC and the nonprofit and charitable community she so strongly values.
It’s my pleasure to introduce you to our new CEO and UDP, Derek Ballantyne. Selected after a rigourous process, based on his extensive experience across several sectors, he will form an integral part of the leadership team at CFFAC. He is an expert on finance, in particular on alternative financing for capital projects and was the CEO of several large nonprofit housing companies. He sits on the board of the Laidlaw Foundation and has worked with several nonprofits and charities in Canada and internationally. He has experience working in the GTA, Hamilton, Kitchener-Waterloo and Ottawa. Mr. Ballantyne is fluently bilingual. He will begin his new role as CEO in late November.
The rest of the team will continue in their current capacities. This includes co-founder, Ms. Arlene Wortsman who is the Director of Financial Coaching Services, Mr. Richard Bright who is Director of Lending Services, Mr. Duncan Newman as Chief Financial Officer, and Ms. Sarah Young as Administrative and Communications Coordinator.
I know you join me in sending Nora warm good wishes and deep gratitude for her work as CFFAC’s co-founder and CEO and, in future, as senior advisor, and in welcoming Derek as our new CEO.
Board Chair on behalf of the Board of Directors