Clearinghouse CDFI Donates $120,000 to San Francisco's A.C.T. Strand Theater

Clearinghouse Community Development Financial Institution announced today a $120,000 donation to Strand Theater, a 283-seat theater and 120 seat event and performance space owned by the American Conservatory Theater (A.C.T.) in San Francisco. A.C.T. is a nonprofit theater company whose performance, education, and outreach programs benefit more than a quarter million people annually.

Clearinghouse CDFI's donation follows its original allocation of $14.6 million of New Market Tax Credits and $2.4 million of Historic Tax Credits for restoration of the historic theater in 2014. The Strand Theater, which reopened in 2015, is now a vibrant performing arts and education center serving the Bay Area and beyond.

"The refurbishment of the Strand Theater has strengthened and inspired a diverse community in a severely distressed area of San Francisco," said Douglas Bystry, President and CEO of Clearinghouse CDFI. "We are proud to continue supporting A.C.T.'s performance, education, and outreach programs through this donation."

"We are grateful for the generosity Clearinghouse CDFI has provided in support of the development of A.C.T.'s Strand Theater in Mid-Market," said Jennifer Bielstein, Executive Director of A.C.T. "The theater is a beautiful space for our community to come together through the power of live theater. We look forward to welcoming everyone back as soon as it is safe to gather."

Clearinghouse CDFI has funded $1.9 billion in total loans for over 1,900 community projects over the past 23 years. These projects have created or retained more than 21,500 jobs and benefit over 1.9 million individuals. This includes rehabilitation of more than 18 million square feet of blighted properties. In 2019, Clearinghouse CDFI financed projects served 84,685 individuals from minority populations, and 65% of all loans were made to minority and women-owned organizations.