OpenAccess Initiative
The OpenAccess Initiative is a Newark-based nonprofit founded in 2021 that runs a paid annual fellowship training Black and Latinx professionals for community development finance careers, placing roughly 18-24 fellows per year with industry host organizations.
- Company typePrivate
- Founded2021
- HeadquartersNewark, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What OpenAccess Initiative does
The OpenAccess Initiative (OAI) is a 501(c)(3) nonprofit fellowship organization founded in 2021 and headquartered in Newark, New Jersey. Its stated mission is to increase Black and Latinx representation in the community development finance (CDF) industry by recruiting, training, and placing emerging professionals at CDF host organizations through a paid summer fellowship program. Fellows receive specialized technical training in federal community development tax credits — including the New Markets Tax Credit (NMTC), Low-Income Housing Tax Credit (LIHTC), and Historic Tax Credit (HTC) — alongside mentorship, networking opportunities, and structured exposure to CDF career pathways, with curriculum delivered in partnership with training organizations such as Novogradac.
The program operates on an annual cohort model, placing roughly 18 to 24 paid fellows per year with CDF host organizations, and has accumulated nearly 130 fellows across six cohorts since launch with a reported 76% placement rate into permanent CDF roles. Beyond core fellowship delivery, the organization runs industry events, networking mixers, panel discussions, and a podcast series to maintain alumni engagement and host-organization relationships. It has also formed an industry-alignment partnership with Project REAP, a longer-standing nonprofit focused on diversifying the commercial real estate industry.
Revenue is generated through corporate sponsorships (tiered from $100 to $100,000), per-fellow host organization fees (approximately $2,250 per placement), individual donations, and event programming. Sponsors include large financial institutions such as Wells Fargo (named a 2024 Leading Fiscal Sponsor at the Trailblazer level), U.S. Bank, and PNC, alongside specialty CDF intermediaries and advisory firms like Novogradac. The organization appears to operate with a small staff (estimated 1-10 individuals) and has recently undergone a leadership transition, with Rodney López serving as Interim Executive Director following the tenure of Rashidah Billups.
OpenAccess Initiative firmographics
Firmographics- Name
- OpenAccess Initiative
- Legal name
- OpenAccess Initiative
- Website
- https://open-access.us
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- The OpenAccess Initiative is a Newark-based nonprofit founded in 2021 that runs a paid annual fellowship training Black and Latinx professionals for community development finance careers, placing roughly 18-24 fellows per year with industry host organizations.
- Ownership category
- akta.pro rank
OpenAccess Initiative industry classification
Industry- Product category
- Workforce Development Fellowship Services
- NAICS
- Educational Support Services (611710), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)
- SIC
- Services-Educational Services (8200)
- akta.pro primary industry
- College Access, Scholarships & Student Success Nonprofits (BPAGADAE)
- akta.pro secondary industries
- Scholarship & Fellowship Foundations and Trusts (EDADAHAC), Alumni, Peer & Community Networking Programs (EDAMAKAM)
Keywords
Where OpenAccess Initiative is headquartered
LocationHeadquarters
- HQ city
- Newark
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
OpenAccess Initiative business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Corporate Sponsorship: OpenAccess generates revenue through tiered corporate sponsorship levels ranging from Legacy ($100K) to Friends of Open Access ($100+). Sponsors receive marketing placement, event recognition, access to fellowship applicant lists, investor spotlight events, and podcast interview opportunities. Major sponsors include Wells Fargo, Novogradac, US Bank, PNC, Charles Schwab, and others.
- Fellowship Administrative Fees: Host organizations pay administrative fees of $2,250 to OpenAccess for hosting fellows. Additionally, sponsors covering fellowship host costs contribute to program sustainability.
- Individual Donations: The organization accepts individual donations through Stripe, with a donate button prominently displayed on the website homepage.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Legacy Level - Premier Benefits |
| Other | Annual | Trailblazer Level |
| Other | Annual | Executive Level |
| Other | Annual | Founders Circle Level |
| Other | Annual | Underwriters Level |
| Other | Pay-as-you-go | Friends of Open Access |
| Other | Annual | Fellowship Host Administrative Fee |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels12 records
OpenAccess Initiative product offering
Product offeringCore offering
OpenAccess Initiative operates the Open Access Fellowship Program, a paid 160-hour fellowship over three months that prepares Black and Latinx early-to-mid career professionals for careers in community development finance. The fellowship includes Novogradac-sponsored coursework in New Markets Tax Credits (NMTC), Low-Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC), and Energy/Renewables tax credit financing, paired with personalized mentoring, industry conference access, and placement with a host organization. The organization is funded through corporate sponsorships, host organization administrative fees, and individual donations.
Product overview
OpenAccess Initiative operates as a single, unified fellowship program focused on diversity in community development finance. The core offering is the Open Access Fellowship Program, which combines paid job training, professional education through Novogradac courses, personalized mentoring, and industry networking to prepare Black and Latinx professionals for careers in community development finance sectors including New Markets Tax Credits (NMTC), Low-Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC), and Energy/Renewables tax credit financing.
Differentiator
Problem solved
Functional benefit
Products and services
- Open Access Fellowship Program A paid 160-hour fellowship over 3 months offering a $4,000 stipend to Black and Latinx early-to-mid career professionals seeking careers in community development finance. Includes Novogradac-sponsored coursework in NMTCs, LIHTCs, HTCs, and CDFI underwriting, personalized mentoring, industry conference access, and placement with a host organization such as a CDE, lender, or syndicator.
Quantifiable outcome
- 76% of fellows placed or promoted in community development finance roles within the first three years
- +3 more outcomes
Companies that use OpenAccess Initiative
Customer profileNamed customers16 records
Segments3 records
Ideal customer profiles3 records
OpenAccess Initiative technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
OpenAccess Initiative partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered flagship, minor and core.
- Novogradac & Company LLPflagshipNovogradac provides curriculum through virtual training, webinars, and conference attendance for fellows. They offer courses in NMTCs, LIHTCs, HTCs, RETCs, OZs, financial modeling, and CDFI underwriting. Fellows receive certificate of training completion from Novogradac. Novogradac is a Trailblazer-level sponsor.
- Affordable Housing Tax Credit Coalitionminor2026 Fellowship host organization providing industry experience in affordable housing tax credits for fellows.
- Baker Tilly Capitalminor2026 Fellowship host organization providing industry experience in community development finance for fellows.
- Broad Street (Broadstreet Impact)minor2026 Fellowship host organization providing industry experience for fellows.
- Cherry Bekaertminor2026 Fellowship host organization providing accounting and advisory industry experience for fellows. Partner Laurel Tinsley from Cherry Bekaert Advisory LLC commented on NMTC program complementarity.
- Chicago Community Loan Fundminor2026 Fellowship host organization providing CDFI experience for fellows.
- Conscious Markets Groupminor2026 Fellowship host organization providing industry experience for fellows.
- LISC NJ (Local Initiatives Support Corporation)minor2026 Fellowship host organization providing community development experience for fellows.
- Monge Capitalminor2026 Fellowship host organization. Monge Capital is the firm co-founded by Jeff Monge, co-founder and board co-chair of OpenAccess.
- National Equity Fundminor2026 Fellowship host organization providing affordable housing and community development experience for fellows.
- National Trust Community Investment Corporationminor2026 Fellowship host organization providing community investment experience for fellows.
- New Jersey Community Capitalminor2026 Fellowship host organization providing community development finance experience for fellows.
- Nonprofit Finance Fundminor2026 Fellowship host organization providing nonprofit finance expertise for fellows.
- Ohio Capital Corporation for Housingminor2026 Fellowship host organization providing housing finance experience for fellows.
- Platform for Social Changeminor2026 Fellowship host organization providing social impact experience for fellows.
- RDF (Rural Development Finance)minor2026 Fellowship host organization providing rural development finance experience for fellows.
- Rise Community Capitalminor2026 Fellowship host organization providing community capital experience for fellows.
- Stonehenge Capitalminor2026 Fellowship host organization providing tax credit and investment experience for fellows.
- TruFund Financial Servicesminor2026 Fellowship host organization providing community development financial services for fellows.
- Upper Manhattan Empowerment Zoneminor2026 Fellowship host organization providing economic development and empowerment zone experience for fellows.
- Project REAP (Real Estate Associate Program)coreProject REAP (Real Estate Associate Program) partnered with OpenAccess to present the fellowship program, combining OpenAccess's focus on community development finance diversity with REAP's two decades of experience connecting professionals to commercial real estate.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
OpenAccess Initiative competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
OpenAccess Initiative social profiles
Digital presenceOpenAccess Initiative financial estimates
Financial estimateRevenue estimate
Valuation estimate
OpenAccess Initiative leadership team
Management profileNumber of profiles
Profiles4 records
OpenAccess Initiative funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OpenAccess Initiative M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OpenAccess Initiative
What does OpenAccess Initiative do?
OpenAccess Initiative operates the Open Access Fellowship Program, a paid 160-hour fellowship over three months that prepares Black and Latinx early-to-mid career professionals for careers in community development finance. The fellowship includes Novogradac-sponsored coursework in New Markets Tax Credits (NMTC), Low-Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC), and Energy/Renewables tax credit financing, paired with personalized mentoring, industry conference access, and placement with a host organization. The organization is funded through corporate sponsorships, host organization administrative fees, and individual donations.
Is OpenAccess Initiative a public or private company?
OpenAccess Initiative is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was OpenAccess Initiative founded?
OpenAccess Initiative was founded in 2021. It employs 1 to 10 people.
Where is OpenAccess Initiative based?
OpenAccess Initiative is headquartered in Newark, United States, in the North America region.
How does OpenAccess Initiative make money?
Three revenue lines are on record. Corporate Sponsorship is the primary driver. The others are fellowship Administrative Fees and individual Donations.
Does OpenAccess Initiative have an API?
No public API is recorded for OpenAccess Initiative.
What industry is OpenAccess Initiative in?
OpenAccess Initiative's product category is Workforce Development Fellowship Services. Its primary akta.pro industry code is BPAGADAE, College Access, Scholarships & Student Success Nonprofits, with a secondary code of EDADAHAC, Scholarship & Fellowship Foundations and Trusts. Its NAICS code is 611710 and its SIC code is 8200.