Aaron Gougis of Momentus Capital Wins “Leaders in Diversity” Award From the Dallas Business Journal
Mr. Gougis launched the first cohort of Capital Impact Partners’ Equitable Development Initiative in Dallas, helping developers of color with training, mentorship, and pathways to financing that are often unavailable due to systemic racism.
FEBRUARY 27, 2023 (Arlington, VA/San Diego, CA) – Aaron Gougis, the Dallas Initiatives Manager for the Momentus Capital branded family of companies, has been honored by the Dallas Business Journal in the publication’s annual “Leaders in Diversity” awards.
Mr. Gougis received the “Community Champion” award, which recognizes an individual who has gone above and beyond in the promotion of initiatives, resources, or community involvement to advance diversity in the Dallas region.
Mr. Gougis launched the first cohort of Capital Impact Partners’ Equitable Development Initiative in Dallas and then managed the first cohort of the six-month program in 2022. The Equitable Development Initiative helps developers of color with training, mentorship, and pathways to financing that are often unavailable due to systemic racism.
“I’m proud of the work we’ve done to bring the Equitable Development Initiative to Dallas, what the program has already meant for the developers who participated in it, and what it will continue to mean for the community,” said Mr. Gougis. “And I’m excited for what ’s still to come — how we can better support the Dallas area as an organization, to learn about the challenges that community members of color are facing, their goals, and their needs.”
The Momentus Capital branded family of companies — which includes Capital Impact Partners, CDC Small Business Finance and Ventures Lending Technologies, among other companies — is dedicated to addressing systemic issues of inequality, economic empowerment, and the widening racial wealth gap. By offering a continuum of financial, knowledge, and social capital, Momentous Capital is able to help local leaders build inclusive and equitable communities and create generational wealth.
Since launching in 2018, the Equitable Development Initiative has trained more than 200 developers of color in Dallas; Detroit; the Washington metropolitan area; and the San Francisco Bay Area.
The program helps create generational wealth for the developers — whose projects also create attainable housing, mixed-use developments, jobs, and greater opportunities for the individuals who live in the developers’ communities.
In Dallas, nearly 66 percent of the population is either Black or Latino. Yet they do not have the same opportunities to thrive as their white counterparts. They are less likely to own their homes, whose property values are significantly lower. Black household income is also less than half that of white households. More than 60 percent of Black and Latino households are confronting liquid asset poverty.
“Aaron built relationships with community leaders and the City of Dallas, as well as with funders such as JPMorgan Chase and Charles Schwab, influencing them to focus on diversity, inclusion and equity efforts in the Dallas area such as the Equitable Development Initiative,” said Lauren Counts, Head of National Programs for Momentus Capital.
“Aaron also recruited a strong network of mentors, who serve an important role for Equitable Development Initiative participants going beyond regular advisory support and answering questions about particular deals,” Ms. Counts said. “They provide nurture, guidance, and advice to these emerging developers, imparting — and serving as a strong example of — what it takes to be successful in this field in the Dallas area.”
The launch of the Equitable Development Initiative in Dallas received significant interest, with more than 100 applicants applying to the first cohort. Capital Impact Partners expects to launch its second cohort in Dallas later in 2023 and is committed to working in the Dallas area to better support local social service organizations providing health care, education, healthy food, and affordable housing to underestimated communities.
“I’m continuing to learn more about how we can better support the Dallas area as an organization, to learn about the challenges that community members of color are facing, their goals, and their needs,” Mr. Gougis said. “We are building a coalition. There is an opportunity for growth – not necessarily for change. Change evokes making something new. What we need to do is help create opportunities for supporting their growth and revitalization, to retain the fabric of a community that has existed for generations and help it thrive now and for generations into the future.”
This is the latest recognition for the Momentus Capital branded family of companies:
- In 2022, the Washington Business Journal honored Momentus Capital President and CEO Ellis Carr as the Nonprofit Leader of the Year.
- Fast Company named Mr. Carr to that publication’s 14th annual list of the Most Creative People in Business.
- Momentus Capital was nominated to the Washington Business Journal’s Inno on Fire awards for helping to fuel the region’s economy.
- CDC Small Business Finance finished Fiscal Year 2022 as the foremost SBA 504 and Community Advantage lender in the United States.
- Team members Ken Rosenthal and Stacey Sanchez received two top honors from Coleman Report as the leading banking publication’s SBA Business Development Officers of the Year.
- The NonProfit Times named Capital Impact Partners as one of the best nonprofits to work for.
About Momentus Capital
Momentus Capital is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve.
Through our family of mission-focused organizations including Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies, we are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening racial wealth gap.
We offer a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions.
Each organization under the Momentus Capital brand will still operate as separate entities, but their clients will now have access to more resources and products.
Leveraging 80 years of combined experience, nearly $3 billion in assets, and strong community engagement, we have delivered $23 billion in financing, created and preserved 250,000 jobs, and served 12,000 small businesses and five million people across their history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Michigan, Nevada, New York, Texas, and the Washington metro area.
Learn more at momentuscap.org.
About Capital Impact Partners:
Capital Impact Partners is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We work to champion key issues of equity and social and economic justice by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact is part of the Momentus Capital branded family of companies, including CDC Small Business Finance and Ventures Lending Technologies. Collectively, we offer a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions.
A nonprofit Community Development Financial Institution, Capital Impact has disbursed more than $2.5 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact’s leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch, and recognized by Aeris for its performance.
Learn more at www.capitalimpact.org and momentuscap.org.
