The CIFI team is dedicated to making a positive change throughout Indiana. We work hard to ensure that underserved communities have the financial opportunities they need to find success. We are pleased to serve the people of Indiana and create tangible change in their communities.
Phil Black is the Executive Director of Community Investment Fund of Indiana a Statewide Community Development Financial Institution providing loans and development services for businesses, community facilities, and gap financing for housing development. Phil has extensive experience in economic development focusing on small business development and business development finance.
Previously, as the Program Director for Pathway Lending, he provided development services and lending solutions for existing business owners in the Tri-Cities region of Tennessee. He also served as the Director of Community Economic Development for People Incorporated of Virginia where he was responsible for creating and managing a CDFI providing loans and development services to start-up and growing businesses in a 14-county market.
Phil held senior positions with several organizations in North Carolina and South Carolina including the North Carolina Rural Economic Development Center, the University of South Carolina Small Business Development Center, and the James F. Byrnes International Center. He has been active in the community development finance industry serving on the Board of Directors for several organizations.
He has worked on consulting projects and training teams funded by The Aspen Institute, the U.S. Small Business Administration, the U.S. Department of the Treasury, the Office of Refugee Resettlement, USDA Rural Development, and the Opportunity Finance Network.
He graduated from the University of South Carolina and is a Certified Business Finance Professional by the National Development Council.
Business Development Officer, Indianapolis
Hayden is responsible for new business development in Central and Southern Indiana. He provides business technical assistance and develops loan packages for customers needing microenterprise and business loans. He has business financing experience in transportation, retail service, and Healthy Food financing. He also provides customer support activities, ensures loan portfolio compliance, and performs financial analysis.
Hayden joined CIFI in 2018 and his experience includes marketing with Shrewsberry & Associates, logistics with Target, and Finish Line.
He graduated with a BA in from Indiana University School of Public and Environmental Affairs (SPEA) in Policy Analysis.
Want to be part of our team? Check out our employment opportunities.
Board of Directors
Matthew B. Murphy III
CIFI President of the Board Directors
Emboss Partners, LLC
Matt Murphy recently rejoined Emboss Partners, LLC to lead the firm into new areas of growth in the field of business consulting and capital acquisition. Matt’s passion is working with clients who seek new sources of funding and strategies for business expansion. Emboss engages with small and middle-market companies as well as not-for-profit organizations to assist in structuring debt and equity resources, guides strategic and financial planning, and devises social impact investing initiatives.
Matt joined Strada Education Network as the company’s CFO in 2017. Murphy later transitioned to the role of Senior Vice President and Managing Director of Corporate Development & Investments at Strada. In this role, Murphy was responsible for non-profit and for-profit organizational social impact investing.
Before joining Strada, he spent two decades as a senior executive with Mays Chemical Company, Inc. leading its finance, investment, and corporate merger & acquisition (M&A) activities.
In addition to his corporate leadership responsibilities at Mays Chemical, Matt provided management and oversight of the company founder’s (Bill Mays) personal family wealth as well as crafting the structure of the transactions in his business investment portfolio. Being highly entrepreneurial himself, Matt saw opportunities to monetize these financial management disciplines. He joined forces with Mr. Mays, as partners, to create a consulting company that extended these activities to other businesses and individuals who needed to outsource these skills. The consulting company they created is Emboss Partners, LLC.
He has previously held senior leadership roles at BWI, LLC. Inc. and Huntington National Bank of Indiana.
For more than 20 years, Murphy has been a governor’s appointee to boards overseeing the Indiana Health Facility Financing Authority, Indiana State Teachers Retirement Fund, Public Employee Retirement Fund of Indiana, and INvestED. He also serves on boards of the Lynx Capital Corp., Monument Capital Partners, Heron Capital Venture Fund, and the Community Investment Fund of Indiana, Inc.
Murphy is a recipient of the Coalition of Minority Business Development and Indy Chamber William Henry Entrepreneurial Achievement Award, and the Center for Leadership Development Minority Achievement Award in Finance. Indianapolis Business Journal named him to its list of “Forty Under 40” professionals.
He is a graduate in management and administration from the Indiana University Kelley School of Business, where he currently serves on the advisory board for the Johnson Center for Entrepreneurship & Innovation.
CIFI Board Treasurer
Senior Vice President & Commercial Sales Manager
Fifth Third Bank
Todd is Senior Vice President for Commercial Banking at Fifth Third Bank and has served in this role since 2014. Previously, he was Senior Vice President Business Banking Executive for three years starting 2010. Todd has experience building and leading high-performance teams and is serving the bank in Executive Leadership roles to include talent management, strategic planning, and maximizing financial performance. Todd joined Fifth Third Bank in 2003. From 1992 to 2003 he worked for Bank One in Banking Center Management.
Todd is active in community engagement and service to non-profit organizations. He is an officer and board member for Community Investment Fund of Indiana (2012 to Present) and serves on the Board of Directors and Executive Committee for Catholic Charities since 2016.
Todd is a graduate of Butler University where he earned an M.B.A in Organizational Leadership. He also holds a BA in Marketing and Management from the University of Southern Indiana.
CIFI Board Secretary
EVP, Chief Administrative Officer
Lake City Bank
Kristin is the Executive Vice President, Chief Administrative Officer for Lake City Bank. She is responsible for long-term strategic and staff planning, enhanced enterprise risk management and regulatory planning for future growth, the board of directors, administration, and creation of a diversity and inclusion program. She also has oversight of human resources, operations, and several regulatory, risk management, legal and compliance functional areas. Kristin joined Lake City Bank in 2008.
Before joining Lake City Bank, she served as assistant general counsel and chief compliance officer for 1st Source Bank in South Bend, Indiana. Previously she practiced law with Skadden, Arps, Slate, Meagher & Flom in Washington, DC.
Pruitt has a bachelor’s degree cum laude from the University of Notre Dame and a Juris Doctor degree magna cum laude from Case Western Reserve University School of Law. She is also a graduate of the ABA Stonier Graduate School of Banking.
Pruitt is Chair of the Northern Indiana Regional Development Authority board and Secretary on the board of Community Investment Fund of Indiana, Inc. She also serves as Board Chair for the Boys and Girls Club of St. Joseph County.
Executive Director of Strategic Sourcing
Ivy Tech Community College
Michael is the Executive Director of Strategic Sourcing for Ivy Tech Community College. In this capacity, he leads the overall procurement strategy for the College and identifies opportunities to integrate local and economic inclusion goals and objectives into the operations, policies, and procedures of the College.
Prior to Ivy Tech, Michael was the Manager of Purdue University’s Office of Supplier Diversity Development. While there he worked to ensure that small and diverse businesses were afforded the best possible conditions to compete for business opportunities across the Purdue enterprise.
Prior to Purdue University, Michael worked for the Indiana Department of Administration’s Division of Supplier Diversity as the Business Development and Outreach Manager. Michael oversaw planning outreach initiatives across the state, as well as providing business owners with information and resources to help them compete for business with the state of Indiana.
He also leads the Supplier Diversity Development Coalition of Greater Lafayette, a small working group of procurement professionals representing the major industries within the greater Lafayette area, dedicated to increasing business diversity by providing contracting opportunities to minority-owned small business.
For more than 10 years, Michael has been a key volunteer with Project Stepping Stone of Indiana; a nonprofit dedicated to the educational attainment of Indiana’s Hispanic high school students.
Michael graduated from the University of Southern Indiana with a BS in Public Relations & Advertising and a commission as a second lieutenant in the US Army Reserves, through the Rose Holman ROTC program.
Vice President & Chief Compliance Officer
CRA & BSA Officer at Merchants Bank of Indiana
Previously, Carol was VP Compliance and CRA Officer for First Internet Bank and Salin Bank and Trust in Indianapolis. She was a Legal Administrator for Defur Voren in Muncie and the Regional Compliance for Firstar Corporation in Iowa.
Carol Chairs the Greater Indianapolis CRA Council and serves as Board President for the Independence Academy, a school serving autistic students. She previously served as Board Chair for the United North East Community Development Corporation in Indianapolis.
She earned a BBA in Finance from Iowa State University and attended Colorado State University.
Executive Vice President
Cambridge Capital Management Corp.
Charles has served as the Executive Vice President of Cambridge Capital Management Corp., since 1996. His responsibilities include managing the investment portfolios of LYNX Capital Corporation and the Indiana Community Business Credit Corporation (ICBCC) and as Marketing Officer for the Indiana Statewide Certified Development Corporation (ISCDC).
LYNX Capital was established to link capital to minority business opportunities statewide and ICBCC was organized to meet the growth and expansion needs of promising Indiana companies unable to secure financing from conventional sources. Charles also underwrites the HUD Section 108 loan program and the New Markets Tax Credit Small Business loan program for the City of Indianapolis.
Charles’s community involvement includes serving on the board of Directors of Community Investment Fund of Indiana, The Hispanic Business Council of Indianapolis, and the Board of Advisors for the Indiana Small Business Development Center (ISBDC). He has also served two consecutive terms on the Federal Home Loan Bank’s Affordable Housing Advisory Council.
Prior to joining Cambridge Charles spent 10 years as a lender for two different large banks in Indianapolis.
Charles is a graduate of Purdue University.
Division Head of Treasury Services
1st Source Bank
South Bend, IN
Carrie joined 1st Source Bank in 2005 after working for 1 year as a Staff Cost Accountant for a global manufacturing company in Elkhart, Indiana. She started out working for at 1st Source Bank as a Credit Analyst in 2005 and worked in that capacity for about two years before transitioning to the Workout Department as a Workout Officer. In 2009, She was asked to create an SBA Department and centralize many efforts related to SBA lending. In this capacity, she additionally took lead for CRA and Affordable Housing Lending efforts for the Bank. She led the SBA team from 2009 until mid-2018, at which time she transitioned to the Treasury Services Division of the Bank in the role of Division Head, the position that she currently holds.
In the past and present, she has served in a number of community leadership positions including the following:
- Board Member for Women’s Entrepreneurial Initiative & SPARK at Saint Mary’s College
- Board Member and Investment Committee member for Community Investment Fund of Indiana (CIFI).
- Past Board Member for Michiana leadership and is prior Chair for the Alumni Committee.
Carrie earned M.B.A from the University of Notre Dame in 2017 and has a B. S. Business Management, 2004, and a B.S. in Accounting from Davenport University, 2003.
Continuum of Care Network
Previously, Sharron was the Workforce Development Manager for East Chicago Hammond Empowerment Zone, Director of Nursing for HealthSouth Rehabilitation Hospital in Kokomo, Interim Director of Nursing for Choice Care Home Health Agency for the Gary-Catholic Diocese. She also served as Nursing Administrator Director for more than 14 years with The Methodist Hospitals, Inc. in Gary & Merrillville. She has been recognized for her community leadership with numerous community honors to include “Most Influential Woman in NWI in 2016”.
She is a Registered Nurse and holds a Doctorate Ed. D, in organizational leadership, from Argosy University. She holds a Master of Science (Administration, Health/Non-Profit), from Notre Dame University, a master’s in nursing from Indiana Dabney University, and a Bachelor of Arts, in Psychology, from Purdue University.
J. Jacob Sipe
Indiana Housing & Community Development Authority
Jake Sipe has devoted the past eighteen years to serving the needs of families and individuals with low to moderate incomes in Indiana. Jake joined the Indiana Housing and Community Development Authority (IHCDA) in September 1999; he learned the ropes and advanced into positions of greater responsibility. In July of 2012, Jake was named Interim Executive Director and was appointed Executive Director in January 2013.
In his former position as head of the Real Estate Department at IHCDA, Jake was responsible for administering the Section 42 Rental Housing Tax Credit Program, Federal programs such as HOME and CDBG, and State monies including Indiana’s Housing Development Fund and Neighborhood Assistance Program. His prior responsibilities with IHCDA also include managing the Community Development and Multi-Family Departments.
At the 2011 Indiana Statewide Conference on Housing and Community Economic Development, Jake was awarded the Michael Carroll Community Economic Development Leadership Award for his dedication to the advancement of affordable housing partnerships and production. He is a graduate of Indiana University’s School of Public Environmental Affairs and currently serves on the advisory council for LISC Indianapolis and is a board member of the Community Investment Fund of Indiana, Inc., Indiana Community Finance CDE, and National Council of State Housing Agencies.