Management Bios
Jeremy Nowak, PhD, President and Chief Executive Officer
Mr. Nowak is the founding director of TRF, which he co-founded in 1985 after serving in a variety of community development and organizing positions. In addition to his leadership of TRF, Mr. Nowak chairs the Board of Directors of Mastery Charter School and Alex’s Lemonade Stand. He also was on the Consumer Advisory Board to The Federal Reserve Bank and chaired the Board of Directors of the National Community Capital Association, the industry’s trade association, from 1990-1994. Selected in 1994 to receive The Philadelphia Award, the city’s highest civic honor, Mr. Nowak also played a key role in the successful passage of the Community Development Financial Institutions Fund, the first federal funding for organizations like TRF. Outside the Philadelphia area, he has provided assistance to a dozen development finance institutions in the United States, China, Latin America, and Africa. Mr. Nowak has authored numerous reports and articles on community development and related issues. In January 2008, Mr. Nowak began a three-year term on the Board of Directors of the Federal Reserve Bank of
Suzanne Anastasi Aloi, Controller
Ms. Aloi joined TRF in 1998 to maintain TRF’s internal control system, coordinate external audits, and oversee accounts payable, payroll, and grant reporting functions. Ms. Aloi’s 18 years of diverse accounting experience includes 13 years in nonprofit accounting and 4 years as Controller of The Cooper Foundation. She holds an MBA from Rutgers University and a BBA, with a concentration in accounting, from the Wharton School of the University of Pennsylvania.
Margaret Berger Bradley, Director, Communications and Investor Development
Ms. Bradley joined TRF in 1998 and currently leads all of TRF’s communications, media and marketing initiatives. She also manages relationships with TRF’s broad base of investors, and is responsible for new activities that encourage potential investors. In prior positions at The Conservation Company and the U.S. Environmental Protection Agency, Ms. Bradley provided management consulting, organizational development, and planning services, as well as organizational change consulting and recruitment campaign management. Ms. Bradley holds an MBA from Yale University and a BA from the University of Virginia.
Catherine Califano, Associate Director, Policy and Information Services
Ms. Califano joined TRF in 2007 after ten years of work for the City of Philadelphia, where she worked in a number of capacities in the City's Commerce Department and most recently as the Chief of Staff for the Office of Housing and Community Development. In addition to her management responsibilities, Ms. Califano worked to expand private sector investment into low-income neighborhoods and restructure the delivery of the City's housing services and programs. Ms. Califano's career has included experiences in employment training services, community and neighborhood development. She holds a MA in Government Administration from the University of Pennsylvania and a BA from St.John's University.
Graciela Cavicchia, AICP PP, Director, Neighborhood Development Services
Ms. Cavicchia joined TRF in 2003 and serves as Director of TRF’s Neighborhood Development Services. She is responsible for developing the implementation of revitalization projects in partnership with private developers and public sector clients. Ms. Cavicchia has over 10 years of experience in urban design and planning, real estate, and community development and has received national and international honors for her work. She currently teaches a graduate studio in planning at the University of Pennsylvania. A trained architect, Ms. Cavicchia holds a MCP in Urban Planning from Rutgers University.
C. Sean Closkey, President, TRF Development Partners
Mr. Closkey joined TRF in 2004 and is responsible for assisting private developers and public sector clients in their efforts to revitalize neighborhood real estate markets. Mr. Closkey previously served as the Executive Director of the New Jersey Housing and Mortgage Finance Agency. His accomplishments include creating and implementing New Jersey’s $2.5 billion Smart Growth Housing Policy. Prior to leading the NJHMFA, Mr. Closkey was Executive Director of St. Joseph’s Carpenters Society in Camden. He holds a BS in finance from Villanova University and a MA in economics from the University of Texas at Austin.
Michael M. Crist, CPA, Executive Vice President and Chief Financial Officer
Mr. Crist joined TRF in 2001. Mr. Crist leads the finance function of TRF and its affiliates through fiscal oversight, strategic planning, budgeting and financial projections, treasury operations, and financial risk management. He manages TRF’s information technology and office administration needs. Mr. Crist’s 20 years of accounting and operational experience include 10 years in numerous corporate level and line positions at Cendant Mortgage Corporation and as senior manager with PricewaterhouseCoopers. He holds a BS in accounting from the University of Delaware.
Linda DeJure, Executive Vice President of Economic Development
Ms. DeJure joined TRF in 2002 to lead the work of TRF’s private equity, sustainable energy, and human capital groups. Ms. DeJure is also managing director for TRF’s two private equity funds, TRF Urban Growth Partners and DVCRF Ventures. She brings substantial deal structuring, financing, acquisition monitoring, and banking experience from her previous positions as co-head of private capital at Berwind Financial Group, L.P., principal at CMS, and vice president at Bradford Ventures. Ms. DeJure holds a BA in economics from Pennsylvania State University.
Lori Michelle Glass, Director, Washington, DC and Government Relations
Ms. Glass joined TRF in 2003 and manages business development activities in the Washington, DC area as well as key relationships with public officials and governmental agencies. Ms. Glass brings several years of community development banking experience to TRF. As an assistant vice president at JP Morgan Chase, she was involved in community development lending and government relations. Prior to joining TRF, Ms. Glass worked as a financial analyst for the CDFI Fund. Ms. Glass holds a BBA in marketing from Pace University and an MBA in finance from Atlanta University.
Ira Goldstein, Ph.D., Director, Policy & Information Services
Mr. Goldstein joined TRF in 1999 to lead its research and public policy efforts. Mr. Goldstein researches broad economic development issues and the social impact of TRF’s financing work. Prior to joining TRF, Mr. Goldstein served as the director of fair housing and equal opportunity for the Mid-Atlantic region at the U.S. Department of Housing and Urban Development. He also teaches a quantitative research methods course for the Urban Studies Program at the University of Pennsylvania. Mr. Goldstein holds a PhD, MA, and BA in sociology from Temple University.
Donald R. Hinkle-Brown, President, Lending and Community Investments
Mr. Hinkle-Brown joined TRF in 1991. Presently, Mr. Hinkle-Brown directs all of TRF’s lending operations, including housing, community facility, and commercial real estate lending. Before joining TRF, Mr. Hinkle-Brown worked in the local banking industry in real estate finance. He holds an MBA from Temple University in real estate and urban planning as well as a BA in economics.
Maggie McCullough, Director, PolicyMap
Ms. McCullough is Director of PolicyMap, an online data analysis and mapping service of TRF. She leads the team that is developing and launching PolicyMap to offer a data-rich and accessible way to analyze data from a variety of public and private sources. Ms. McCullough's previous responsibilities at TRF included the coordination and production of a wide range of research studies related to housing, workforce and economic development. Ms. McCullough has more than ten years experience researching public policy matters and implementing programs in the public and private sector. She holds a Master's Degree in Governmental Administration from the University of PA and a Bachelor's Degree in economics and political science from St Joseph's University.
Patricia Muraresku, SPHR, Director, Human Resource Services
Ms. Muraresku joined TRF in 1998. Ms. Muraresku directs TRF’s human resource department and delivers human resource services and products to TRF portfolio companies. She employs effective human resource strategies to help businesses be more successful and create opportunities for low income employees. Prior to joining TRF, Ms. Muraresku had ten years of experience as the accounting supervisor and benefits coordinator for a privately owned common carrier in the transportation industry. Ms. Muraresku holds a certificate in professional human resource management from Villanova University and BA in human performance management from Immaculata University.
John Page, Chief Technology Officer
John Page joined TRF in 2005 as its Chief Technology Officer. His responsibilities include the overall direction, improvement and administration of TRF’s information technology resources. Mr. Page brings over seventeen years of information technology experience. Most recently, Mr. Page worked with Wilmington Trust as a Project Manager in its IT department, responsible for ensuring compliance with all computing standards and the efficient deployment of all banking software. Mr. Page holds a BS in Management from Lehigh University.
Bob Rosenthal, Vice President, TRF Development Partners
Mr. Rosenthal brings over 20 years of development experience to TRF. Prior to joining TRF, Mr. Rosenthal was Vice President of Business Development at Westrum, one of TRF’s largest and most successful for-profit developers. At Westrum, he was responsible for all acquisition and approval for urban properties. He has acquired and developed over 5,000 building lots during the past 8 years. Mr. Rosenthal graduatied Cum Laude from Temple University’s business school and earned a JD from The Delaware Law School at Widener University in 1985. As Board member and Chairperson of the Government Affairs Committee, of the Building Industry Association (BIA) of Philadelphia, Bob co-authored the widely-read BIA Housing Report, If We Fix It, They Will Come.
Robert G. Sanders, Managing Director, Energy Group
Mr. Sanders joined TRF in 1998. He is Fund Manager for the Sustainable Development Fund, a $32 million fund created by the Pennsylvania PUC to promote renewable energy and energy efficiency. Mr. Sanders also works to identify market opportunities that integrate an energy and environmental approach within TRF’s business lines. He has over twenty years of community development banking experience with CoreStates Bank and with community development intermediaries in Philadelphia, PA, Berkeley, CA, and Madison, WI. Mr. Sanders holds an MCP from the University of California at Berkeley and a BA from Stanford University.
Patricia L. Smith, Director of Special Initiatives
Ms. Smith joined TRF in 2005 and is responsible for coordinating targeted initiatives involving two or more lines of business. Prior to TRF, Ms. Smith directed the City of Philadelphia’s Neighborhood Transformation Initiative (NTI), a $295 million redevelopment bond program she designed to address decades of urban blight and stimulate new investment in Philadelphia neighborhoods. Ms. Smith’s career spans the foundation, government and nonprofit sectors and includes public policy advocacy, program development, strategic planning, and housing bond financing. Ms. Smith currently serves on the board of directors of the Urban League of Philadelphia. In 2002, she was awarded a Fannie Mae Fellowship to attend the John F. Kennedy School’s Senior Executives in State and Local Government Program at Harvard University. Ms. Smith holds a BA from Mount Holyoke College and JD from George Washington University Law Center.
Sara Vernon Sterman, Managing Director, Community Facilities
Ms. Sterman joined TRF in 1999. Ms. Sterman is responsible for program design and implementation of lending products for a portfolio of nonprofit educational institutions and social service organizations. Prior to joining TRF, Ms. Sterman taught elementary school in New York City and Washington, D.C., with the Teach For America program, and was a program director for Teach For America in eastern North Carolina. Ms. Sterman holds an MSW from the School of Social Work and an MBA from the Wharton School of the University of Pennsylvania.
Nancy Wagner-Hislip, Managing Director, Housing Group
Ms. Wagner-Hislip joined TRF in 1998 as a housing loan officer and became managing director of the affordable housing group in 2003. She brings more than 10 years of community development finance experience to TRF. Prior to joining TRF, Ms. Wagner-Hislip served as community development lender at CoreStates Bank, where she underwrote construction and permanent loans as well as the bank’s low-income housing tax credit investments. She holds a bachelor’s degree in public policy and economics from the University of Pennsylvania.