Honoring Tom Mayes: A Champion for Preservation, Place, and Purpose

For more than four decades, Tom Mayes has been one of the most thoughtful and influential voices in historic preservation. As he retires from the National Trust for Historic Preservation, we at NTCIC join colleagues across the preservation community in celebrating an extraordinary career defined by leadership, scholarship, stewardship, and an unwavering commitment to the places that tell America’s story.

Throughout his tenure as Chief Legal Officer and General Counsel of the National Trust, Tom played a pivotal role in advancing preservation policy, protecting historic resources, and strengthening the legal frameworks that help safeguard our shared heritage. Yet those who have worked closely with him know that his contributions extend far beyond legal expertise and organizational leadership. Tom has consistently challenged the preservation field to think more deeply about its purpose.

At NTCIC, we have had the privilege of working alongside Tom during his service on our Board of Directors. His guidance has helped shape conversations about preservation finance, revitalization strategies, and the broader role historic places play in communities across the country. Whether discussing policy, preservation economics, or community impact, Tom brought a unique perspective grounded in both deep professional knowledge and genuine human insight.

Beyond Buildings

What has always distinguished Tom’s work is his ability to articulate not just how we preserve historic places, but why we preserve them. Historic preservation is often viewed through the lens of architecture, design, or physical stewardship. While those elements are certainly important, Tom has spent much of his career reminding us that preservation is ultimately about people.

His widely acclaimed book, Why Old Places Matter, has become foundational reading for those in the field because it reframes historic preservation in deeply human terms. Rather than focusing solely on the structures themselves, Tom explores the profound connections people develop with places over time.

The old neighborhood church where generations gathered. The downtown main street that witnessed a community’s growth. The family home that carries stories across decades. The historic district that provides continuity amidst rapid change. These places matter because they help shape identity, memory, and belonging.

Tom’s work has encouraged preservationists to recognize that historic places serve as more than reminders of the past. They contribute to community resilience, foster social connections, support local economies, and provide a sense of continuity in an increasingly fast-paced world. By preserving these places, communities preserve the stories, experiences, and cultural heritage that bind people together.

For organizations like NTCIC, this perspective is particularly meaningful. Our work often centers on the financial tools and investment strategies that make preservation projects possible. Yet behind every successful rehabilitation project, historic tax credit transaction, or revitalization initiative lies a larger purpose: ensuring that valued places continue to serve the communities that cherish them.

Tom has reminded us that preservation succeeds not merely when a building is saved, but when the relationships, stories, and sense of place connected to that building are sustained and strengthened.

A Lasting Legacy

At NTCIC, we have benefited enormously from Tom’s wisdom, thoughtful counsel, and steady leadership. Board discussions were strengthened by his ability to connect strategic decisions with larger mission-driven goals. His contributions consistently reflected a profound understanding of preservation’s role in shaping stronger communities and a more connected society. While his retirement marks the conclusion of an extraordinary chapter at the National Trust for Historic Preservation, we know his influence on the field is far from over.

We are particularly excited to see him continue his exploration of the relationship between people and place in his next book. At a time when communities everywhere are grappling with change, growth, and questions about identity and belonging, those thoughts and conversations are more important than ever. Tom’s ongoing scholarship will undoubtedly continue to challenge and inspire those who care about preserving the places that matter.

As we reflect on Tom Mayes’ remarkable career, we do so with immense gratitude. We are grateful for his leadership within the preservation movement. We are grateful for his service to NTCIC and the insight he brought to our organization. We are grateful for his mentorship, friendship, and generosity in sharing his knowledge with others. Most importantly, we are grateful for the enduring reminder that historic preservation is ultimately about people and the places that help tell their stories.

Congratulations, Tom, on an extraordinary career. Thank you for your leadership, your service, and your enduring contributions to the preservation field. We look forward to following this next chapter and continuing to learn from your insights for years to come.

Remembering Our Friend, Irvin Henderson

The NTCIC family is deeply saddened by the passing of Irvin Henderson, a dedicated leader, community development champion, and longtime advocate for equitable investment in underserved communities.

Irvin joined NTCIC’s Board of Directors in 2002 and served the organization for nearly two decades, including six years as Board Chairman. Throughout his tenure, he helped guide NTCIC through periods of growth and transition while championing our mission to bring capital, opportunity, and revitalization to communities across the country.

A respected developer, consultant, and national leader in community development finance, Irvin believed deeply in the power of investment to strengthen neighborhoods and create economic opportunity. His commitment to revitalizing Main Streets and supporting projects in historically underserved communities left a lasting impact both within NTCIC and throughout the broader community development field.

“Irvin believed that investment should create opportunity where it is needed most,” said David Clower, President & CEO of NTCIC. “Whether he was discussing Main Street revitalization, affordable housing, or economic development, he consistently focused on ensuring that underserved communities had access to the resources required to thrive.”

The Irvin Henderson Main Street Revitalization Fund

In 2018, NTCIC established the Irvin Henderson Main Street Revitalization Fund in recognition of Irvin’s leadership, service, and longstanding commitment to revitalizing underserved communities. The fund provided $2 million to $4 million in innovative NMTCs for smaller-scale historic rehabilitation projects and became a lasting tribute to Irvin’s belief that thoughtful investment can strengthen Main Streets, preserve historic places, and create opportunities for residents and small businesses.

Through the revitalization fund and countless investments inspired by his vision, projects in communities across the country have benefited from the capital and expertise needed to preserve historic places and create new opportunities for residents and businesses.

Irvin often spoke about the importance of Main Streets as places where communities come together and where investment can help preserve both local heritage and economic vitality. His belief that development should serve all people, especially those who have historically been overlooked, continues to influence our work today.

We extend our heartfelt condolences to Irvin’s family, friends, and colleagues. We are grateful for his leadership, friendship, and lasting contributions to NTCIC and the communities we serve.

Meet Ross Williams, NTCIC’s Summer 2026 Open Access Fellow. At the conclusion of his fellowship this summer, we sat down with Ross to learn more about his background and future in community development. Read his interview below!

Can you talk a little bit about your background and what brought you into the community development world?

I grew up in New York City in a family where opportunity had to be built rather than inherited. I was the first man in my family to graduate from college, so I understand from experience what it means when opportunity depends on someone deciding to invest in you.

After college, I played professional basketball. Even then, I was drawn to business and finance, so when I transitioned off the court, I began building the career I had always envisioned. I started in accounting and capital markets in New York, moved into investment banking, and eventually earned my MBA at UVA Darden.

Alongside my professional career, I founded Freedom Financial, a financial literacy platform that reached more than 100,000 people. Helping people has always been a constant for me. That’s ultimately what brought me to community development and fund creation. The opportunity to do well while doing good, and to help communities filled with people who share backgrounds similar to mine, is something I had always hoped to be part of.

What are some of your professional strengths and interests?

Strategic thinking, financial modeling, and problem solving are some of my biggest strengths. I enjoy taking something genuinely complex, whether it’s a fund, a capital stack, or a tax structure, and building it into a model that anyone can open with confidence and trust. I also care about the unglamorous details, making sure documents align, numbers tie out, and assumptions are clearly documented so they can be challenged. Just as importantly, I enjoy making complex work visually clear and easy for the audience to understand.

Another strength is finding ways to improve how work gets done. This summer I leaned heavily into AI to pressure test financial models, automate repetitive tasks, and accelerate first drafts of analyses, allowing me to spend more time on judgment rather than mechanics. I enjoy identifying tools that make the entire team more effective, and I believe that ability will only become more valuable over time.

Beyond the technical side, I’m drawn to work where finance and mission intersect, because getting the numbers right is what makes the mission credible.

What have you been learning and working on this summer? Have you learned anything unexpected that you didn’t know before the fellowship?

The anchor of my summer was helping stand up a new lending initiative by building the fund model, working through the economics with our auditors and fund administrators, coordinating with tax and legal counsel, and drafting materials that explain the strategy to investors. It was a front row seat to how a fund is actually built, which is something very few people get to experience this early in their careers. I owe a lot of that opportunity to Adrian, who trusted me with the engine of the fund early on and encouraged me to speak up rather than defer.

Beyond the model, I had the opportunity to work across nearly every part of NTCIC, from acquisitions and asset management to investor reporting and fund development. That gave me a real appreciation for how each piece fits together. I joined the team for Historic Tax Credit Lobby Day on Capitol Hill advocating for the credit this organization is built on, attended a Novogradac conference, participated in AI training that I immediately put into practice, and spent time in Scottsdale, Arizona with Adrian, David, and Angelica during my first week, which set the tone for the entire summer.

The biggest surprise was realizing how much of launching a fund is about language, not just math. One of the hardest parts is making sure the financial model, legal documents, and investor materials all communicate exactly the same thing. I also learned that impact claims deserve the same level of rigor and precision as financial ones.

What are some of your goals and next steps when you finish the fellowship?

My next chapter is in corporate finance, where I’ll continue building technical and operational skills at a scale. What I discovered this summer, though, is that community development finance is not a detour in my career. It’s a space I hope to stay connected to throughout it.

Long term, I want to be someone who can move comfortably between institutional finance and mission driven investing, bringing institutional discipline to purpose driven capital. I also look forward to staying engaged with NTCIC and cheering the fund on as it reaches its milestones.

Who or what inspires you the most?

During my first week, David handed me a copy of Moral Ambition, and one idea from the book stayed with me all summer: ambition is a resource, and it matters what you point it toward. I saw that reflected throughout NTCIC in people who could work anywhere but choose to spend their careers making difficult deals happen in communities the market often overlooks.

For me, helping people has always been the foundation. I grew up seeing what happens when talented people never receive an opportunity, and being the first man in my family to graduate from college reinforced how one open door can change a family’s trajectory.

I’m also motivated by competing with myself to improve every day and by seeing something I helped build become real. Basketball taught me that the most valuable teammates are not always the loudest. They’re the people who consistently do the work no one notices. I’ve found the same to be true in finance.

Would you recommend the fellowship? And if so, who is the ideal candidate?

Without hesitation.

The fellowship gave me real responsibility on real work. It wasn’t a shadowing experience. The team, starting with David and Adrian, treated me as someone who could contribute to the fund’s history rather than as a summer visitor.

The ideal candidate is someone with strong technical curiosity who wants their work to matter beyond the spreadsheet. The fellowship rewards people who ask why just as often as how. You don’t need to arrive knowing tax credits. You need to care enough to get the details right, because in this industry the details determine whether communities ultimately get served.

Ross— we’re so grateful for all of the contributions you made on our NT Impact Capital team this summer! Best of luck in all your future endeavors!

As we close the books on our latest fiscal year, we’re taking a step back to look at the range of projects we’ve been honored to support. From a long-shuttered 1930s theater now restored as a live performance venue, to historic mill complexes returning to use housing and commercial space, these projects highlight the transformational impact of historic rehabilitation.

Tgether, these investments reflect the breadth of NTCIC’s work today, preserving significant buildings while creating places where people can live, learn, gather, create, and connect, with clean energy helping shape what comes next.

None of this happens without the dedication of our partners, investors, and the communities behind each project. We’re grateful for your continued support and look forward to building on this momentum in the year ahead.

HTC Lobby Day: June 10, 2026

Hosted by the Historic Tax Credit Coalition, join us in DC for HTC Lobby Day to voice support for HTC provisions to be included in tax legislation. In addition to setting up meetings on your behalf and providing educational materials and maps, the Coalition will be hosting a mid-morning breakfast briefing before heading to Capitol Hill.

Contact Michael Phillips for More Information Below

Preservation Advocacy Week: March 2-5, 2026

Hosted by Preservation Action and the National Conference of State Historic Preservation Officers, Advocacy Week 2026 will feature new in-depth preservation policy trainings and briefings, member and partner meetings, exciting tours, networking opportunities, and of course congressional office visits.

Hear from NTCIC’s own Mike Phillips and learn how to best advocate for the historic tax credit.

Your advocacy has an impact! This is a critical time for historic preservation, and we need your voice as we advocate for the critical programs and policies the help preserve our nation’s historic resources.

Click here to view Preservation Action’s Advocacy Week 2026 Digital Materials

Advocating for HTC-GO in 2025

As Congress prepares for a major tax policy overhaul in 2025, the urgency to address expiring tax provisions from the 2017 Tax Cuts and Jobs Act increases. Despite delays, the upcoming legislative session will be crucial for major tax decisions affecting individuals and corporations.

This year, we are thrilled to join our advocacy partners in several upcoming HTC advocacy events and opportunities to learn more about state historic preservation incentives and priorities. These events will provide you with the latest information on the HTC legislation and equip you with the necessary knowledge to engage with legislators and advocate for the bill’s passage.

Get ready to be inspired, informed, and energized as we work together to secure crucial support for this initiative. Don’t miss out on the chance to refresh your knowledge and align your talking points as we embark on this exciting journey toward historic preservation. Let’s make history together by supporting this critical piece of legislation!

Washington D.C. – June 2, 2026: We’re proud to announce that for the second year in a row, the National Trust Community Investment Corporation (NTCIC) has been honored as one of DC’s Best Places to Work. This year, NTCIC was ranked number 12 in the Small Company Category.

“Being recognized as one of DC’s Best Places to Work is meaningful because it validates something we have long believed: strong culture and strong performance are not competing priorities. They reinforce one another,” said NTCIC President & CEO, David Clower.

NTCIC is a proud member of the National Trust family of companies, and our employees are directly connected to meaningful work that supports the country’s architectural heritage, community development, and renewable energy initiatives. As one of the most active impact investment and asset management firms in America, our staff sees the tangible impact of their investments every day, and that sense of purpose matters.

We’ve been a fully flexible and hybrid organization for years, which gives employees real opportunities in where and how they work. We maintain strong collaboration through regular virtual touchpoints and twice-yearly in-person retreats. This model lets us hire talent from across the country and genuinely support work-life balance. We also offer a strong benefits package including retirement match, comprehensive health coverage, and generous paid time off including a company-wide summer break. We invest in our people through structured onboarding, professional development support, and a real commitment to promoting from within.

Ultimately, we pride ourselves on being a company that intentionally seeks purpose-driven individuals who are passionate about creating lasting change. Our staff thrives in a collaborative environment where everyone feels empowered to bring bold ideas to the table and remains committed to excellence in everything. We prioritize taking care of each other, and to be recognized two years running as one of DC’s Best Places to Work is an honor.

About NTCIC

The National Trust Community Investment Corporation (NTCIC), a subsidiary of the National Trust for Historic Preservation, is a mission-driven, impact investment asset management firm focused on the adaptive reuse of historic properties and renewable energy solutions across the country. Founded in 2000, NTCIC makes transformational impact investments in low-income & disinvested communities, promoting a brighter, more equitable future by revitalizing historic properties and expanding our nation’s renewable energy accessibility through innovative community development & tax credit investment strategies.

Washington, D.C., May 13, 2026— NTCIC is pleased to announce that Ross Williams has joined the NT Impact Capital team this summer as a 2026 Open Access Fellow. The Open Access Fellowship first launched in the Fall of 2021 as an initiative created by advocates in the New Markets Tax Credit (NMTC) industry to increase diversity representation in community development finance. NTCIC was a founding sponsor of the program and NTCIC’s President and CEO David Clower currently serves on the Open Access board of directors.

Ross is an MBA candidate at the University of Virginia Darden School of Business, graduating in May 2026, with eight years of experience across investment banking, corporate finance, and accounting. He has worked at Santander Corporate & Investment Banking, VO2 Partners, KPMG, BNY Mellon, and XP Investments, supporting M&A transactions, credit diligence, accounting, and portfolio analytics across healthcare, biopharma, and financial services. At Darden, Ross serves as CFO of Darden Capital Management and is a Public Service Scholar, MLT Fellow, and Generative AI Fellow.

He is the founder of Freedom Financial, a nonprofit focused on advancing financial literacy in underserved communities. Ross is passionate about deploying capital to drive economic mobility and is based in New York, NY.

Connect with Ross on LinkedIn

About NTCIC

The National Trust Community Investment Corporation (NTCIC), a subsidiary of the National Trust for Historic Preservation, is a mission-driven, impact investment asset management firm focused on the adaptive reuse of historic properties and renewable energy solutions across the country. Founded in 2000, NTCIC makes transformational impact investments in low-income & disinvested communities, promoting a brighter, more equitable future by revitalizing historic properties and expanding our nation’s renewable energy accessibility through innovative community development & tax credit investment strategies.

In 2025, we celebrated 25 years of investment and impact. To document that important milestone, we worked together with our staff, board, project partners, and many others to create a 25th Anniversary Retrospective, looking back at the journey that shaped who we are today. The report reflects on our founding vision and highlights a quarter-century of investment, leadership, and dedication to strengthening communities. It’s a story not just about how far we’ve come, but about where our mission will take us over the next 25 years.

Inside the retrospective, you’ll find a selection of standout projects, quotes from valued team members, reflections from our past and present leadership, and so much more. These highlights offer a clear reminder that our efforts have made a real difference in the communities we serve. Ultimately the report is not just a showcase of our accomplishments, but a tangible demonstration that, like our CEO David Clower said, “Our legacy will not be defined solely by financial results or the projects we finance, but by the enduring hope, opportunity, and resilience that we help communities realize.”

We invite you to explore the full report to see the impact for yourself and join us in celebrating everything we’ve helped build together and everything still to come.

Washington, D.C., January 6, 2026—The National Trust Community Investment Corporation (NTCIC) is pleased to announce that Kimberly Laird has joined our leadership team as Director of Asset Management. Kimberly will lead the Asset Management department, overseeing the direct management of NTCIC’s Historic Tax Credit (HTC) and New Markets Tax Credit (NMTC) investments, as well as our growing private credit portfolio. Her responsibilities include financial oversight, risk management, and compliance to ensure the long-term success of our investments and the communities they serve.

A Proven Leader in Community Development Finance

With more than 25 years of experience in community development banking, Kimberly has managed over $1 billion in equity and debt transactions across HTC, NMTC, and Low-Income Housing Tax Credit (LIHTC) programs. Her career began at Wachovia Capital Markets Group, where she managed the Southeastern asset management team focused on LIHTC investments. She later advanced to Bank of America as a Senior Vice President, overseeing asset management for Historic, New Markets, and Renewable Energy tax credit investments. Most recently, Kimberly served as Credit Risk Manager in Community Investment Capital at Synovus Bank, a regional institution headquartered in Georgia.

“Kimberly’s experience and values align with NTCIC’s commitment to preservation, equity, and performance,” said David Clower, President & CEO of NTCIC. “She will help us scale our impact while safeguarding the integrity of every investment we steward.”

Commitment to Community and Impact

Kimberly earned her B.S. in Accounting from The University of Kentucky and remains deeply engaged in community advocacy through her work with The Redress Movement in Charlotte, NC, and the NC Housing Coalition. Outside of work, she enjoys yoga, cooking, and spending time with her two sons.

“Asset management is the backbone of NTCIC’s mission to deliver transformational capital investments in underserved communities,” said Bret Mosher, Managing Director of Credit & Portfolio Management. “Kimberly’s expertise strengthens our ability to safeguard investor confidence while driving measurable social and economic outcomes nationwide.”

Please join us in welcoming Kimberly to NTCIC!

Connect with Kimberly Laird on Linkedin

About NTCIC

The National Trust Community Investment Corporation (NTCIC), a subsidiary of the National Trust for Historic Preservation, is a mission-driven, impact investment asset management firm focused on the adaptive reuse of historic properties and renewable energy solutions across the country. Founded in 2000, NTCIC makes transformational impact investments in low-income & disinvested communities, promoting a brighter, more equitable future by revitalizing historic properties and expanding our nation’s renewable energy accessibility through innovative community development & tax credit investment strategies.