The Advisory Services Department, under the direction of Stephanie Hiatt, is responsible for raising and deploying tax credit capital. Dudley Ventures is frequently engaged by developers, non-profits and institutions to bring tax credit equity and debt financing to complex transactions. Often, these transactions involve multiple financing layers and require the monetization of public subsidies such as tax increment financing.

Stephanie Hiatt, Director of Advisory Services, joined Dudley Ventures in February 2007 following 5 years of banking experience. Ms. Hiatt responsible for the structuring of the firm’s investment funds and its advisory services, managing all stages of a tax credit transaction through a successful closing, including structuring, assessing community impact, managing third-party professionals to ensure timely closings and reduced third-party costs, and managing the deployment process. Since joining Dudley Ventures, Ms. Hiatt has been directly involved in over $700 million of transactions. Ms. Hiatt earned her BA in 2002 from the University of Rochester in Rochester, New York. Ms. Hiatt formerly worked for Wells Fargo Bank where she was responsible for servicing and relationship management related to a portfolio of commercial banking customers.


The Financial Reporting and Accounting Department is headed by our Chief Financial Officer, Barb Beaudoin. FRA's activities cover the entire breadth of reviewing, monitoring, managing and reporting of transactions across a multitude of asset classes, including community facilities such as hospitals and schools, business lending including small businesses in loan funds and specialized lending to wind farms, solar and other renewable projects. Dudley Ventures is able to provide services to investors and all other parties with in-house expertise in areas of bookkeeping, accounting, tax and audit requirements to ensure fully compliant transactions.

Karen Reen, Controller, joined Dudley Ventures in June 2010. Ms. Reen is responsible for overseeing the Investor Reporting for the Company including asset management, loan servicing, debt servicing and financial accounting for Federal and State Tax Credit programs. In her role at Dudley Ventures, Ms. Reen has also been assigned special projects and has been active in several workouts and special asset structures. She holds an M.S. in Finance from Walsh College in Michigan, with 23 years of experience in accounting and finance. She is a Certified Public Accountant.


Our Compliance Department is managed by Johanna G. Kato, Chief Operating Officer. Dudley Ventures continually tracks, monitors, and evaluates the complex regulatory compliance issues relating to tax credits. We are experienced and committed to adhering to all compliance requirements, monitoring allocation agreement guidelines, and keeping current on IRS regulatory compliance and reporting. The Compliance Department also persistently tests and follows the community impacts of our projects to ensure all meet our community outcome objectives.

D’Anna Elsey, Chief Compliance Officer, has been with Dudley Ventures for over 9 years. Ms. Elsey oversees the implementation and monitoring of the guidelines and regulations of all Federal tax credit programs, including review of local level risk assessment and compliance activities for Dudley Ventures. Ms. Elsey is responsible for tax credit program compliance, project loan servicing, and ensuring that all compliance reporting as outlined in each company’s operating agreement is fulfilled. Prior to being named Chief Compliance Officer, Ms. Elsey worked in the Financial Reporting and Accounting Department developing asset management policies and procedures. Ms. Elsey has a B.S. in Psychology with a minor in Political Science from Arizona State University in 2006. Ms. Elsey graduated Magna Cum Laude and was a National Presidential Scholar.