The 35th Annual Whitney M. Young, Jr. Memorial Conference
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Jim Burnett
Principal, Mosaic Development Partners
Mr. Burnett is the Executive Director of the West Philadelphia Financial Services Institution (WPFSI). He has worked in the financial services industry for over 20 years, beginning his career with Fidelity Bank 1988. In addition to his professional focus, Mr. Burnett has served diligently on various community and professional boards and is committed to the promotion of financial literacy and education.
WPFSI is a ten year old non-profit community lending institution located in the West Philadelphia “Empowerment Zone.” WPFSI’s mission is to provide capital and technical assistance to businesses and residents who have been underserved by traditional financing sources. Mr. Burnett is responsible for managing a $4,300,000 and growing commercial loan portfolio, a $9,500,000 capital fund and a $500,000 operating budget.
In addition to its financing WPFSI provides monthly seminars in all areas of finance and business development. WPFSI is constantly adding new products, programs and services to meet the changing needs of its market. On May 31, 2008 they completed a 341,000 square foot retail shopping center (Park West Town Center) that will create 800 new jobs, visually improve a major commercial corridor and provide inspiration to a challenged community.
WPFSI has also provided construction financing to develop 27 rehabbed housing units and created a summer internship for high school juniors called WesGold Fellows that teaches youth about development, financial literacy and getting into college.
Mr. Burnett’s career in financial services began in 1988 while studying finance at LaSalle University. He received credit training while working for First Fidelity Bank and subsequently worked as a relationship manager in the small business division. Mr. Burnett rose to the level of Assistant Vice President before taking the position of Program Loan Officer for WPFSI in 1999. Mr. Burnett is also the chairman of WesGold, LLC a partnership of WPFSI and The Goldenberg Group that developed and is operating the Park West Town Center retail development.
In June of 2008 Mr. Burnett partnered with three former employees of The Goldenberg Group to create Mosaic Development Partners, LLC. The firm is focused on becoming a major player in the development of retail and mixed use projects within the tri-state area.
Mr. Burnett has also served on the national board of the Urban Financial Services Coalition and has served twice as the president of the Philadelphia Chapter. He has been asked and sits on various other community and professional boards, is a frequent speaker on issues surrounding lending and community economic development and hosted a monthly radio program on WDAS 1480 AM on finance and business development for ten years.