Newsflash -- community development banking is doing nonprofit work.

A Washington Post article today noted the departure of a BofA Banker who was responsible for the community development banking division to a women's empowerment organization.

There's little question that community development banking wouldn't exist in commercial enterprises if it didn't generate revenues.  At the same time, this type of banking is just not that far from nonprofit work.  As a matter of fact, there are plenty of nonprofits doing this type of work.

Bottom line, Ms. Caldwell, the individual making the big move, may indeed be a hero doing nonprofit work but I would argue she is not moving from for-profit to nonprofit -- no, she is just continuing a good mission.

Grumpy on January 2, 2008.