<p>The aim of this research is to analyze the performance of PNPM Mandiri Program and identify the desirability of</p><p>stakeholder in managing revolving fund of PNPM Mandiri after the end of this program in Banyumas Regency. Informan</p><p>as source of the data consist of PNPM organizer, facilitator, and the community who received revolving fund. We use</p><p>qualitative and quantitative techniques to analize the data. Our analysis shows that the amount of the fund is more</p><p>than a hundred billion. They have been revolving and need to manage by legal entity organization. Meanwhile, the</p><p>desirability of the stakeholder of PNPM Mandiri especially PNPM Organizer is different. Some people want the public</p><p>corporation as the legal entity to manage the fund, but the others want cooperation.</p><p>Keywords: PNPM Mandiri, Revolving Fund, Cooperation, public corporation.</p>