Reinvestment Fund Announces Patricia L. Smith as Interim Chief Program Officer
The Seasoned Policy Veteran and Reinvestment Fund Founding Member Returns to Help Lead the Organization
(Philadelphia | April 30, 2026) – Reinvestment Fund, today announced the appointment of Patricia L. Smith as interim Chief Program Officer. She will help fill the role of Sara Vernon Sterman, who recently announced her retirement after working at Reinvestment Fund for nearly 30 years.
Smith previously served in a significant capacity as a founding board member whose leadership was instrumental in policy and program development. As she returns to Reinvestment Fund, she brings her extensive experience in policy research, public administration, philanthropic partnership and organizational leadership. Prior to rejoining the organization, she has held numerous leadership positions in both the public and private sectors, including as president and CEO of The Funders Network (TFN), a national network of foundations focused on promoting equitable and sustainable communities, and as director of Neighborhood Transformation for the city of Philadelphia. Smith also received a Fannie Mae Fellowship to attend Harvard University’s School of Government Executive Leadership Program for state and local officials while working for the city of Philadelphia.
Patricia is an exceptional leader whose deep understanding of policy and program management will be invaluable as we continue our work.
Don Hinkle-Brown, President and CEO of Reinvestment Fund
“Patricia is an exceptional leader whose deep understanding of policy and program management will be invaluable as we continue our work,” said Don Hinkle-Brown, President and CEO of Reinvestment Fund. “Her proven track record of successful program development and implementation, and deep knowledge of the organization and its mission, makes her the ideal person to step into this role during this transition period. We are so grateful to Sara Vernon Sterman for her 27 years of service to our organization and we celebrate her much-deserved retirement.”
During Smith’s previous tenure at Reinvestment Fund, she was instrumental in the Healthy Food Financing Initiative (HFFI), a landmark program that secured over $500 million in federal funds to improve access to healthy food in urban and rural areas. As Senior Policy Advisor, she shaped strategies for mission-driven investment in underserved communities, focusing on the innovative use of capital and data.
“I am honored to take on the role of Interim Chief Program Officer at such a critical time for Reinvestment Fund and continue to build off the incredible foundation Sara Vernon Sterman created during her time leading Programs at the organization,” said Smith. “I look forward to working with the talented team here to continue to make a meaningful impact in the communities we serve.”
As interim Chief Programs Officer, Smith will oversee all Capacity-Building and Capital Access Programs including early childhood education, equitable food systems and the HBCU Brilliance Initiative, ensuring alignment with the organization’s strategic goals and operational efficiency. She will work closely with the leadership team to maintain program momentum through the organizational transition.
For media inquiries or further information, please contact: media@reinvestment.com.
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About Reinvestment Fund
Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people. We bring financial and analytical tools to partnerships that work to ensure that people in communities across the country have the opportunities they strive for: affordable places to live, access to nutritious food and health care, schools where their children can flourish, and strong, local businesses that support jobs. We use data to understand markets and how transactions can have the most powerful impact, which has consistently earned us the top Aeris rating of AAA for financial strength and four stars for impact management. Our asset and risk management systems have also earned us an AA- rating from S&P. Since our inception in 1985, Reinvestment Fund has provided over $3.2 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities. Learn more at reinvestment.com.