As President and CEO of NTCIC, David Clower directs fundraising and acquisition opportunities, develops and implements the company’s overall strategy and new lines of business, and coordinates governing board/staff relations. He also oversees the activities of NTCIC’s subsidiaries, including NT Solar, NT Impact Capital, National Trust Insurance Services, and National Trust Tours.

David joined NTCIC in 2024 with 30 years of commercial and investment banking and community development finance experience across commercial real estate, venture debt, private equity, alternative, and socially responsible impact investment platforms. Prior to joining NTCIC, he served as Chief Credit Officer, Chief Investment Officer, and Executive Vice President of Strategic Investments at RDF, a national, investment grade-rated, community development financial institution based in Arizona. He has specialized experience underwriting and structuring commercial mortgage-backed securities working with bulge bracket investment banks and spent ten years early in his career in lending and client advisory roles with Silicon Valley Bank in both California and Texas.

He is currently a member of the New Markets Tax Credit Advisory Board of Directors for Petros Community Impact Fund, a Texas-based Community Development Entity; a member of the Board of Directors for The Open Access Fellowship, which is focused on increasing Black and Latino representation throughout the community development industry; and as Chair of the board of Directors for the Phoenix Conservatory of Music, a non-profit, creative youth development organization.

David previously served as Chair of the CDFI Advisory Board for Quontic, a privately-held, New York-based adaptive digital bank; an Executive Committee Member of the New Markets Tax Credit Coalition’s Board of Directors, a member of the Bank of America Merrill Lynch Community Advisory Board, a member of the Corporate Advisory Board of the Phoenix Chapter of the Association of Latino Professionals for America (ALPFA); and as Vice Chair of NTCIC’s Board of Directors. He is a multi-national with dual citizenship in the United States and México. He studied Applied Economics at the University of San Francisco, Commercial Real Estate Finance at the Massachusetts Institute of Technology, and Strategic Business Leadership at the University of Chicago Booth School of Business.

As Senior Vice President and Chief Operating Officer, Suzanne is responsible for finance and internal operations including Accounting, HR, IT and administrative functions for NTCIC, its subsidiaries and its funds. Suzanne also oversees NMTC compliance and assists in managing NTCIC’s NMTC program. 
 
Suzanne has over 35 years of management, accounting and finance experience and has held various senior management positions in corporate accounting for both private and public companies. Prior to joining NTCIC, she worked for Enterprise Community Investment, Inc., where she was responsible for deploying over $100 million in NMTC capital, as well as overseeing compliance and investor reporting and served on their finance team. She additionally held other positions in corporate accounting and was a manager in the financial services practice of KPMG, a national public accounting firm. 
 
Suzanne is a CPA and holds a Bachelor of Accounting, Magna Cum Laude, from The George Washington University and an MBA from Johns Hopkins University.

Kandi oversees the Acquisitions and Project Management Team of NTCIC with a focus on HTC and NMTC investments, which is primarily responsible for finding, underwriting, closing, and initiating the first equity and loan disbursements to a project. Additionally, she originates and manages NTCIC’s upper-tier investor relationships. 
 
Kandi joined NTCIC in 2008, bringing more than 20 years of senior-level experience in real estate development and finance. Kandi was formerly a Director at Wachovia where she originated and managed developer relationships through underwriting, closing, and asset management of complex transactions, including both HTC and NMTC investments. Prior to this, she served as a Vice President with PNC and Simpson Housing Solutions (formally KBMH), where she originated LIHTC and HTC investments. She also managed Simpsons Housing Solutions’ East Coast Division, including originators, project managers, and construction managers.

Kandi began her real estate career with Bovis Construction in construction management as a Project Manager, where she established on-site project development experience for high-profile historic and non-historic new construction projects. 
 
Kandi is licensed as a general contractor and general engineer in California, as well as a real estate broker in California, North Carolina, and South Carolina. She received a bachelor’s degree from UCLA and an MBA from Pepperdine University.

As Managing Director of Credit and Portfolio Management, Bret oversees NTCIC’s existing NMTC and HTC investments along with the solar ITC portfolio, including all post-closing financial disbursements, compliance oversight, and reporting. Currently, NTCIC is actively managing 90 assets under management (AUM) comprising roughly $1.4 billion in gross equity investment.

Bret has over 35 years of experience in commercial real estate appraisal, underwriting, financing, asset management, and acquisition/due diligence. Prior to joining NTCIC, Bret spent three years as an investment and acquisition manager at a private equity real estate investment company and was primarily responsible for underwriting potential deals, evaluating risks, and financial analysis. Bret also has five years of experience as a senior asset manager at Fannie Mae and managed a primarily residential portfolio of 35 assets with a total asset value of $1.1 billion. He provided direct asset management and fund oversight for joint venture market rate equity, mezzanine debt, and historic tax credit equity for acquisition, rehabilitation, and new development deals. 
 
Bret received a Bachelor of Business Administration in Finance from The College of William and Mary and an MBA in International Finance from Loyola College. He is a member of the Historic Tax Credit Coalition and the Novogradac Opportunity Zone Working Group.

As Senior Director of Project Management, Heather oversees NTCIC’s HTC and NMTC project management team, which is primarily responsible for underwriting and closing debt and equity investments in projects throughout the United States. She has more than 18 years’ experience in the tax credit industry and has been with NTCIC since 2018. Heather began her tax credit career with the law firm Husch Blackwell LLP, where she counseled investors, lenders, community development entities, and developers. She built an in-depth knowledge regarding the HTC and NMTC program requirements and learned how to navigate the complexities of real estate projects with multiple layers of financing. Heather also spent over three years at a national bank where she managed complex, multi-tiered federal and state HTC and NMTC transactions with multi-million-dollar investments. 
 
Heather earned her bachelor’s degree from Truman State University and her law degree from Washington University in St. Louis. She is a member of the Historic Tax Credit Coalition and an advisory board member for the HTC section of the Novogradac Journal of Tax Credits.

Paul serves as the team leader for NT Solar, where he specializes in monetizing energy tax credits with a particular focus on solar and battery storage markets. He serves key relationships with investors and project operators. He oversees project origination, structuring, diligence, closing, and operations reporting.

Paul brings nearly two decades of experience in the renewable energy sector, enabling deep insights into renewable energy market dynamics and the complexities of energy finance. Before joining NT Solar, Paul led the finance function at Distributed Sun, a leading developer of community solar and distributed generation (DG) projects. There he led efforts to maximize project value at the time of sale, manage development spend, select new markets, and raise development capital.  Earlier in his career, Paul served as a tax policy specialist at the American Wind Energy Association, focusing on wind tax credit policy and analyzing the tax equity market. He also served as a Risk Officer at Wachovia Corp, where he was involved in underwriting tax equity investments in wind energy projects.

Paul also teaches a graduate college course in the Kenan-Flagler Business School at the University of North Carolina, focused on the development and finance of solar and wind projects, and serves on the Advisory Board of the Energy Center at Kenan-Flagler.

As Managing Director, Adrian oversees the impact investment asset management platform and executes NTCIC’s impact investing business strategy by originating, structuring, and managing high-impact, community-focused investments across historic preservation, renewable, and sustainable infrastructure sectors. 
 
Adrian joined NTCIC in 2025, bringing more than 15 years of non-profit leadership and community development finance experience. Prior to joining NTCIC, he served as the Director of Education Finance, Deputy Chief Investment Officer, and Chief Investment Officer at the Raza Development Fund, in which he oversaw the deployment of over $700 million of capital, including $115 million of QLICIs, in impact investments across the country.

He currently serves as a member of the NMTC Advisory Board of Directors for 19Twenty Community Capital, a Texas-based CDE, and the Housing Partnership Network, a Massachusetts-based CDE; a member of the External Credit Committee for the Nonprofit Finance Fund, a New York-based CDFI, and the Mercy Community Capital, a Colorado-based 
CDFI; and as Vice-Chair of the Board of Directors for Catholic Education Arizona, a non-profit, school tuition organization that helps underserved families in Arizona to provide a quality, Catholic education for their children. 

Adrian previously served as a reviewer for the Walton Family Foundation Startup Grant and for Arizona Expansion and Innovation Fund and is an alum of the AZ Charter Schools Association Aspiring Leaders, Pahara NexGen, and Tepeyac Leadership Institute fellowships. He received a bachelor’s degree in finance from Arizona State University and an MBA from Benedictine College and has completed the Chartered Alternative Investment Analyst (CAIA) Level I credential.

As the Director of Marketing & Communications, Mike leads the development and execution of NTCIC’s marketing strategies to reach a broader audience through brand awareness, promotion, and community impact storytelling. He produces NTCIC’s front-facing marketing, design, public relations, and media initiatives, while also supporting the legislative affairs and advocacy work of the Public Policy team.

Prior to joining NTCIC, Mike worked as a Finance and Marketing Advisor for a Baltimore-based real estate development firm specializing in creative financing for adaptive reuse and historic rehabilitation. In this position, he marketed and represented nonprofit organizations and community groups seeking tax credit investments for real estate developments. Additionally, he was a representative for Urban Action Community Development, a Community Development Entity that supported catalytic real estate development initiatives in underinvested communities nationwide. In this role, he was responsible for the deployment of over $100 million in New Markets Tax Credit allocation. 
 
Mike began his career in historic preservation as a Baltimore-based residential Realtor specializing in historic city homes. Mike earned his bachelor’s degree in Electronic Media from Towson University.

As Director of Public Policy, Mike Phillips specializes in garnering and organizing local, national, and federal advocacy initiatives. He works to secure congressional support for enhancement legislation relating to the Historic Tax Credit (HTC), New Market Tax Credit, and other community development incentives. Mike is a nationally recognized leader in advising advocates on delivering timely communication and key information to congressional offices on behalf of the HTC. He is the Chair of the Advocacy Committee with the Historic Tax Credit Coalition, helping advocates plan and coordinate in-district/state site visits with members of Congress and orchestrates DC lobby days on behalf of the coalition.

As a Director of Asset Management, Kimberly Laird leads the Asset Management team responsible for the direct management of the company’s Historic Tax Credit (HTC) and New Markets Tax Credit (NMTC) investments. The role also oversees NTCIC’s private credit investment portfolio, including financial, risk management, and compliance oversight.

Kim Laird has over 25 years of experience in Community Development Banking and has managed over $1 billion in equity and debt transactions utilizing Historic, New Markets, and Low-Income Housing Tax Credit transactions.

Before joining NTCIC, Kim was a Credit Risk Manager in Community Investment Capital at Synovus Bank, a regional bank headquartered in Georgia. She began her tax credit career with Wachovia Capital Markets Group where she managed the Southeastern asset management team focused on LIHTC investments. Later, she joined Bank of America as a Senior Vice President asset managing Historic, New Markets and Renewable Energy tax credit investments.

Kim received her B.S. in Accounting from The University of Kentucky. She is very active in The Redress Movement in Charlotte, NC and the NC Housing Coalition. Kim enjoys yoga, cooking and spending time with her two sons.