Community capital, structured right.

Expert guidance for the full NMTC transaction lifecycle — from feasibility to closing to compliance.

New Markets Tax Credits are one of the most powerful tools in community development finance. They’re also among the most complex. VolinKelly NMTC Advisory exists to close that gap — providing nonprofits, developers, CDEs, and lenders with the experienced guidance they need to access, structure, and sustain NMTC capital.

Our practice is built on direct experience. We’ve navigated NMTC transactions as borrowers and developers — not just as outside advisors. That insider perspective shapes every engagement: we know where deals stall, what CDEs require, and how to keep community impact at the center of a transaction that can easily become purely transactional.

How We Can Help

Borrower Advisory

We guide nonprofit organizations and developers through every stage of the NMTC borrower process — from initial feasibility to term sheet negotiation, closing, and beyond. We’ve been in your seat, and we bring that experience to every engagement.

Deal Structuring & Financial Modeling

CFO-grade financial modeling for NMTC leveraged structures. We build the pro formas, sensitivity analyses, and debt/equity stack models that CDEs and investors require — and that borrowers need to understand and negotiate effectively.

Compliance & Reporting

NMTC compliance doesn’t end at closing. We provide ongoing monitoring, CDFI Fund reporting support, and internal audit preparation throughout the 7-year compliance period — protecting your organization and your investors from costly missteps.

Transaction Unwind Advisory

At year six or seven, NMTC transactions require a carefully managed unwind. We advise CDEs and borrowers through the exit process — ensuring compliance, protecting community benefit commitments, and positioning assets for their next phase.

Feasibility & Market Studies

Before pursuing NMTC financing, organizations need to know if their project qualifies — and whether the economics work. We evaluate project eligibility, community impact metrics, and financing feasibility, giving you a clear picture before you invest in the full transaction process.

CDE Application Support

Competing for NMTC allocation is a rigorous process. We help CDEs develop compelling applications that score well on community impact, organizational capacity, and deployment strategy — increasing the odds of a successful allocation.