“This farewell is bittersweet. After 14 years of tireless dedication, compassion for people and community, and his boisterous energy, we bid farewell to David Clower as he steps up to lead NTCIC as President & CEO. He has been an integral part of so much of the success of RDF. While we’ll miss having him around the office, we know his work at NTCIC will not only benefit the community as a whole but also further strengthen the ties between our organizations. Thank you, David, for everything you have contributed to RDF and to each of us as individuals. We wish you the very best in this exciting new chapter!” 
– Annie Donovan, RDF’s President & CEO


WASHINGTON, D.C., January 24, 2024 – The National Trust Community Investment Corporation (NTCIC), a subsidiary of the National Trust for Historic Preservation (National Trust) and a leading national Community Development Entity and tax credit syndicator, proudly announces the appointment of David G. Clower as its new President & Chief Executive Officer, effective February 20, 2024.

“We are thrilled to announce David Clower as the new President & CEO of NTCIC, following a meticulous and comprehensive year-long search,” stated Terrian Barnes, Chair of the Search Committee. “David’s deep industry experience and his steadfast commitment to community service align seamlessly with our organizational values and objectives. His understanding and respect for NTCIC’s successful history position him as the perfect leader to drive our mission forward.

Bringing 30 years of experience in commercial and investment banking and community development finance, Mr. Clower is currently the Executive Vice President of Strategic Investments at the Raza Development Fund, the largest Latino-led, non-profit community development financial institution (CDFI) in the United States, where he previously served as Chief Investment Officer and Chief Credit Officer. In his current role, he is responsible for conceiving new strategic initiatives and designing, vetting, and commercializing innovative and scalable community development financial products and services, including the establishment of a mission-driven, third-party asset management platform.

“NTCIC’s amazing team of dedicated, mission-driven investment professionals have consistently delivered quality social outcomes and impressive earnings over time for investors,” said Mr. Clower. “As a board member, I’ve watched the company’s culture of teamwork and excellence in action and seen first-hand how its family values and core operating principles guide decision-making in ways that are aligned with my own. As NTCIC’s next leader, I’m excited to build upon the company’s stellar track record and work closely with the National Trust to further elevate our brand as we build stronger more resilient communities together.”

David steps into this role as the third president of NTCIC, succeeding the foundational leadership of John Leith-Tetrault and the dynamic guidance of Merrill Hoopengardner. David joined the NTCIC board of directors in 2019 and, during his five-year tenure, has served as the Vice Chair of the Governing Board, Vice Chair of the Executive Committee, and as a member of the Investment and Audit, Finance & Risk committees.

“David Clower has been an integral part of our organization, serving on the NTCIC board for the past five years and most recently as the Board’s Vice Chair,” said Lauri Michel, Board Chair of NTCIC. “His leadership and insightful contributions to our investment activities have been invaluable. With his unique perspective gained from this role, David is exceptionally positioned to guide NTCIC into the future.”

David’s appointment marks a continuation of NTCIC’s esteemed tradition of professional excellence, deep industry expertise, and unwavering dedication to its mission as the organization nears its 25th anniversary. Under David’s leadership, NTCIC looks forward to a future of continued success, furthering its commitment to revitalizing communities, preserving our heritage, and fostering sustainable development across the nation.

The National Trust Community Investment Corporation (NTCIC), a subsidiary of the National Trust for Historic Preservation, is among the most active tax credit syndicators and Community Development Entities in America. Founded in 2000, the organization supports the country’s architectural heritage, community development, and renewable energy initiatives through the provision of and investment in federal and state tax credits. Since its inception, NTCIC has successfully financed over $2 billion in tax credit equity in over 200 impactful investments across the country, supporting nearly $10 billion in development costs.