October 31, 2024
IRC-CEO Announces Leadership Transition: Executive Director Kasra Movahedi to Join Board of Directors
IRC’s Center for Economic Opportunity (IRC-CEO) announced today that Kasra Movahedi, Executive Director of the impact-focused CDFI Loan Fund, will be stepping down from his leadership role at the end of 2024. Movahedi, who has led IRC-CEO since it made its first loan in 2015, will transition to the Board of Directors in January 2025, where he will continue to champion IRC-CEO’s mission and contribute to its strategic growth and development.
Movahedi’s decision comes at a pivotal and promising time for IRC-CEO, as the organization continues to expand its impact and reach across 18 states, providing critical financial services to underserved communities, including refugees, immigrants, and non-immigrants. Under his leadership, IRC-CEO has empowered tens of thousands of individuals, delivering over 9,000 loans and more than $35 million in financing, establishing a strong foundation for the organization’s continued success.
“I am incredibly proud of what we’ve built at IRC-CEO over the past decade,” said Movahedi. “While this transition marks a new chapter, my commitment to the organization remains unwavering. I look forward to continuing to support IRC-CEO in my new role as a Board member, working closely with our leadership team to ensure we continue to deliver economic opportunities to those who need them most.”
During this transition, Gokcen Topbas, IRC-CEO’s Director of Credit Strategy, will serve as Acting Executive Director, ensuring continuity in operations while a national search for the next Executive Director is conducted. The Board of Directors will work closely with Topbas and the leadership team to maintain strategic direction and guide the organization through this next phase of growth.
“Kasra has been an extraordinary leader, transforming IRC-CEO from a small initiative into a pioneering CDFI and financial services organization that has positively impacted thousands of lives,” said Sean Carpenter, President of the IRC-CEO Board of Directors. “We are deeply grateful for his vision and leadership, and we look forward to his continued involvement as a Board member. The Board has every confidence in the talented team at IRC-CEO to continue driving forward our mission during this transition and beyond.”
The Board of Directors will launch a comprehensive national search for Movahedi’s successor, seeking a leader who can build on the strong foundation he has laid. This new leader will be tasked with driving IRC-CEO’s continued evolution and deepening its commitment to providing economic opportunities to low-income, refugee, immigrant, and non-immigrant communities across the country. Those interested in updates on the leadership search should sign up for IRC-CEO’s newsletter.
“As we move forward with this leadership transition, I am confident that IRC-CEO’s future is bright,” added Movahedi. “We have an incredibly talented team and a strong network of partners and investors who make our work possible. Together, we will continue to build on our successes and ensure that IRC-CEO remains a leader in financial services for vulnerable communities.”
The IRC’s Center for Economic Opportunity (CEO) is a certified Community Development Financial Institution (CDFI) Loan Fund specializing in flexible, affordable, consumer and microenterprise loans to borrowers with limited access to traditional financing. Founded in 2015 based on a successful lending program at IRC San Diego, CEO currently provides loans in 18 U.S. states in partnership with trusted community organizations. Loans are offered in tandem with related training and services to help borrowers build assets, capitalize on opportunities, and transition into the financial mainstream. Learn more at www.irc-ceo.org and follow IRC-CEO on LinkedIn and sign up for our newsletter.
