FOR IMMEDIATE RELEASE
TruFund Financial Services’ Empowerment Reinvestment Fund Invests $8 Million to Expand Educational Opportunities for Houston Students
New STEAM facility and campus enhancements will expand access to college-preparatory education for low-income students in Houston
NEW YORK, NY — AUGUST 18, 2026 — TruFund Financial Services’ subsidiary, Empowerment Reinvestment Fund, LLC (ERF), has closed an $8 million New Markets Tax Credit (NMTC) investment to support the expansion of Cristo Rey Jesuit College Preparatory School of Houston. The investment is part of a broader $23.56 million NMTC financing package provided by three Community Development Entities (CDEs).
Located in a highly distressed census tract in Houston, Texas, the project will finance the construction of a new 46,750-square-foot STEAM academic facility and the rehabilitation of portions of the school's existing campus. The overall project represents a $27.7 million investment in educational opportunities and community development.
Once completed, the expanded campus will enable Cristo Rey Jesuit College Preparatory School of Houston to serve approximately 600 low-income students in grades 9-12 annually, providing enhanced learning environments and student-support services designed to prepare young people for success in college and beyond.
“Education is one of the most powerful drivers of economic mobility,” said James H. Bason, President & CEO of TruFund Financial Services. “Through our subsidiary, Empowerment Reinvestment Fund, we are proud to invest in a project that will provide students and families with access to state-of-the-art educational resources, wraparound support services and pathways to higher education. Investments like this create opportunities that extend well beyond the classroom and strengthen communities for generations.”
The campus expansion will include:
- Engineering and robotics laboratories;
- New science laboratories;
- Dedicated arts programming space;
- A College Counseling Center;
- An Emotional Health Center;
- Enhanced student-support spaces; and
- Technology and infrastructure upgrades throughout the campus.
“Thanks to all who worked their magic,” said Fr. Randy Gibbens, SJ, President of Cristo Rey Jesuit College Preparatory School of Houston. “I look forward to sharing with you updates of our progress. The Cristo Rey Jesuit community is grateful for all of you.”
In addition to improving educational facilities, the project is expected to generate meaningful economic impact. The development will retain 89 jobs, create 10 permanent jobs, and support 78 temporary construction jobs.
Cristo Rey Jesuit College Preparatory School of Houston operates under an innovative educational model that combines rigorous academics with real-world work experience. Students work one day each week through the school's Corporate Work Study Program, earning wages that help offset a portion of their tuition costs while gaining valuable professional experience. Tuition is structured on a sliding scale, with families contributing between $45 and $1,000 per semester based on household income and family size.
Following graduation, students are afforded the opportunity to pursue higher education with support from grants, philanthropic contributions and partnerships with local businesses. Strong community partnerships, including collaborations with organizations such as the Boys & Girls Club, provide additional academic enrichment and after-school programming that further support student success. Since their first graduation in 2013, they have graduated 1,372 alumni who have earned more than $146 million in scholarships with a 100% college acceptance rate.
Capital One Bank served as the NMTC investor, while Baker Tilly sponsored the transaction. The project reflects ERF's ongoing commitment to deploying catalytic capital in underserved communities where investments can create lasting social and economic impact.
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About Empowerment Reinvestment Fund, LLC.
Empowerment Reinvestment Fund, LLC. (ERF), a subsidiary of TruFund Financial Services, is a certified Community Development Entity that leverages the New Markets Tax Credit Program to provide flexible financing for projects that create jobs, expand access to essential services and strengthen low-income communities throughout the United States.
About TruFund Financial Services, Inc.
Founded in 2005, TruFund Financial Services, Inc. is a national Community Development Financial Institution dedicated to expanding access to capital and business support services for entrepreneurs and communities historically underserved by traditional financial systems. Through innovative financing solutions and strategic partnerships, TruFund advances inclusive economic development and drives long-term community impact.
Since its inception, TruFund has deployed $716.8 million in capital to 3,978 businesses nationwide. This investment has supported 31,706 jobs, representing an average of 44 jobs created or retained for every $1 million in financing, underscoring TruFund’s role as a catalyst for sustainable economic growth.
To learn more about TruFund’s mission, impact, and financing solutions, visit www.trufund.org.
Media Contact
Allison M. Washington
Assistant Vice President | Director of Marketing & Communications
TruFund Financial Services, Inc.
awashington@trufund.org
917.838.5804
