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Posters at the conference highlighted that the first OFN conference in 1985 attracted 21 communitydevelopment loan funds with a combined $27 million in assets under management. By contrast, according to the US SIF (Sustainable Investment Forum), the CDFI industry (including communitydevelopment banks and credit unions) had $457.9
Policies such as redlining , as highlighted in Richard Rothsteins The Color of Law , created entrenched housing inequities. The Launch of Limited Equity Cooperatives The LEC is a tool developed to extend access to homeownership to low- and moderate-income buyers. First, acquisition costs in high-demand areas can be expensive.
Fortunately, community land trust (CLT) homeownership appears more successful than most government programs for first-time, low-income homebuyers—both due to demonstrated increased housing stability for residents and a participatory board model that includes both resident and nonresident community representation.
This happens daily when local governments park public funds in banks. Today, our communities face multiple challengesranging from accelerating climate change to growing income inequality, from refugee crises to housing crises, and from basic food access to self-serving financial systems. It turns out, quite a lot.
Members of a housing cooperative have joint control over the governance of common areas like green spaces and playgrounds, and in the US, owners of a share in a co-op are entitled to the same tax deductions as homeowners. Laws and regulations supporting LEHCs vary from state to state and country to country.
The left has often undercut a notion of a mutualist future by insisting that every problem needs a large centralized government solution. To ensure mutualism thrives in the next generation, communities need laws, regulations, practices, and capital markets that encourage solidarity and investment outside of any given silo.
Our recent research shows that even when Black and White applicants have similar financial qualifications, Black prospective buyers face higher denial rates, highlighting why aggressive enforcement of antidiscrimination laws is so important. The most crucial asset that nonprofits can bring to the table is trust.
Oscar Perry Abello: In my work as an economic justice correspondent at Next City, I had written all these stories about credit unions, community banking, and CDFIs [ CommunityDevelopment Financial Institutions ]. It is often cheaper working with a local community bank than a national CDFI loan fund.
The other is that global philanthropy itself is under threat as South African “populist” opposition advocates for so-called “ foreign agent laws.” Similar laws have already rapidly spread across Europe and Central Asia , yet South Africa has avoided them so far. Today, that democracy is fraying. With an estimated 55.5
Image credit: Oladimeji Odunsi and Dave Webb on Unsplash The past few years have seen a flurry of workers organizing across the country, from Starbucks and Amazon workers to new forms of cooperative ownership and governance sharing. Five years ago, I found myself working at a midsized communitydevelopment nonprofit.
The conference brings together hundreds of community activists, government officials, and bank communitydevelopment officers. Community Reinvestment Strengths and Shortfalls NCRC was formed in 1990 to defend the 1977 Community Reinvestment Act , a law created to undo the structural racism embedded in redlining.
ROC USA can make this work because it can extend financing via its communitydevelopment financial institution (CDFI) subsidiary. It can also tap into philanthropic funds and an increasing number of public sources of low-cost debt and communitydevelopment grants. Philanthropy can also increase its support.
The ED is responsible for leading and managing all functional areas of the organization, including financial management, staff leadership, program oversight, community engagement and fundraising. Perform annual management employee reviews and support individual professional development.
Image Credit: Getty Images for Unsplash In September, over 700 worker co-op members, co-op developers, supporters, and organizers from across the country came to Chicago to celebrate the 20th anniversary of the US Federation of Worker Cooperatives (USFWC), the national worker co-op federation.
Nelson Colón of the Puerto Rico Community Foundation, and Clara Miller, president emerita of the Heron Foundation—come from philanthropy. What would it take to fully fund the human capital, governance, and advocacy costs of nonprofits? The other five work for nonprofit intermediary organizations. If not, why not?
Through collaborative action, Mothers Out Front East Boston is fighting for the right to breathe clean air and live and work in a community that is safe and healthy. We are demanding equal protection and equal enforcement of environmental laws and regulations. We also need our government agencies to protect us.
Since most universities are nonprofit or publicly owned, by law, they must be community-serving. Another examplethis one involving the government rather than the university per seillustrates how different partners, even when aligned, may have very different expectations.
After seven years of kitchen-table and Zoom organizing, a multi-stakeholder, cooperative, community-owned grocery store is taking shape in Louisville, KY. In October, the metro council of Louisville’s combined city-county government voted to allocate $3.5 million to help make a co-op grocery a reality. We secured $3.5 A Co-op for Whom?
We know it’s a story of extraction, [of] government reliance on the nonprofit world, but that felt like a whole lot bigger than TBF. And there’s a way that that language gets co-opted as anti-government. It’s structurally incentivized—foundations and government funders are keeping this inadequate system churning.
As for initiatives underway in the Twin Cities and Los Angeles, both efforts are nascent, but both groups also appear to have developed a strong set of partners, making these efforts promising. That said, while money to acquire land is vitally important, community ownership of commercial property requires more than acquisition funds.
We also know that partnering with government and the public sector is critical to advance our missions and build thriving communities. Senator, I meet regularly with Montana nonprofits and work to make sure that our government is partnering with them to serve local communities. As Montana’s senior U.S.
Monitor Legislation that Impacts Your Nonprofit and the Children and Families You Serve Nonprofits must be legislative watchdogs for three key reasons: Impact awareness: New laws affect funding, operations, and beneficiary eligibility. Advocacy opportunity: Proactive engagement shapes legislation to better serve communities.
Image Credit: Daniel Xavier on pexels This is the fourth article in NPQ ’s series titled Owning the Economy: Stories from Latinx Communities. How does a small Latinx community organize itself to support homegrown businesses? DevelopingCommunity Leadership Entrepreneurs play a critical role as community builders.
Image Credit: AndreyPopov on iStock The seeds of a financial system that works for the public are already all around us, from credit unions and loan funds to community bonds and Green Banks. Community banks are too small to absorb billions of dollars in municipal deposits. But meaningful transformation requires changing state law.
One involves the unfilled legal, moral, and economic obligations established by hundreds of treaties with the US government. And a third are limits on Native representation in the US government itself. Culture and language, and their preservation, are also critical to Native conceptions of justice and political strategy.
Policymakers and advocates say: Government must expedite the redevelopment of underutilized church property for affordable housing. Churches should partner with developers and repurpose these properties. Data analysts say: Accelerating church closures are evidence that US Christianity is dying.
Tangled titles disproportionately affect Black and Brown families due to inequitable access to legal services and persistent discrimination that has broken many families’ trust in the systems governing property ownership. Tangled titles arise when a property owner passes their home or land down to multiple heirs without a clear title.
Image Credit: Yuet Lam-Tsang In August 2018, the first legislation explicitly naming worker-owned cooperatives—the Main Street Employee Ownership Act—became United States federal law. What if that scale of resources flowed to our communities instead of to Wall Street?
First, democratic funds like Seed Commons, 4 Ujima Fund, 5 and the Just Transition Integrated Capital Fund gave us a new model for how communities could steward and govern capital together. These new laws channeled philanthropic assets into municipal bonds and communitydevelopment loan funds, which stabilized local municipalities.
Cliff Rosenthal was the executive director of the National Federation of CommunityDevelopment Credit Unions (now called Inclusiv ) from 1983 until 2012. The federation is a national association of credit unions largely run and owned by people of color serving low-income and primarily BIPOC communities. I did not expect to lose.
Public health professionals and communitydevelopers—along with community activists—were having “aha” moments about the linkage between social determinants of health and terrible, systemic health outcomes for people of color and those living on low incomes. One HEZ lead is a community health center with multiple sites.
The false belief that a person can leverage hard work and talent to pull themselves and their family out of poverty should they only try is a pervasive story that has shaped our culture and laws. Racial discrimination was written into the laws, so these programs continue to be, at best, a Band-Aid solution accessible to only some Americans.
Colorado’s Story Colorado is home to some of the country’s most favorable cooperative laws. Given this recent investment in outreach and education efforts, coupled with heightened interest from local governments, we expect to see many more employee-owned businesses statewide in the next five years. Despite this growth, an estimated 24.7
This was not so often the case in the 1960s, when civil rights laws were passed and long-term employment, at least in unionized sectors, was the norm; it is the case today. Conservative politicians and business lobbyists wielded labor law to suppress union activity, such as making boycotts and solidarity strikes illegal.
In 2018, we developed the Advancing Health Equity Through Housing (HEH) funding opportunity and supported 31 organizations working at the intersection of housing and health equity in cities across the United States. Creating a Learning Community.
12 Today’s schools redirect to cities and college towns what used to be known as “suburban research parks” 13 and now are termed “innovation districts,” in which academic research and corporate sponsors bring together real estate development, various forms of retail, and relatively cheap knowledge labor.
Image Credit: Roger Bradshaw on Unsplash This years Just Economy Conference of 1,300 communitydevelopment advocates, held by the National Community Reinvestment Coalition (NCRC) was unlike any other. It is, nonetheless, one of the most grassroots-oriented conferences held in Washington, DCand has been for decades.
While the title of the book might belie the scope of inquiry, Dunning makes the case that using nonprofits as a “tool for addressing urban problems” has led to a form of “urban governance” that uses private organizations to fulfill public, democratic rights. And over time, private foundations emerged and issued grants in a similar way.
Image credit: AmnajKhetsamtip on iStock Communitydevelopment financial institutions (CDFIs) have emerged as pivotal players in bridging financial gaps in underserved communities. An executive order (14238)calls for reducing the CDFI Fundto the minimum presence and function required by law.
A lot of that investment has to come from the federal government, but some also comes from the local level. Mike Koprowski: We also need to build more affordable housing units, and the federal government could help state and local governments with this by creating incentives for them to ease up on the cost of development.
Photo courtesy of Roco Guenther As the morning light filters through the windows of temporary shelters and government housing scattered across the city, refugees like Yulia Ihnatieva from Ukraine begin their day. The city fully embraces Gemeinwesenarbeit, a German term that refers to communitydevelopment.
Image Credit: edgeeffectmedia.com on unsplash.com Leah Rothstein has been a consultant to nonprofit housing developers, local government, and private firms. Recently, with her father Richard Rothstein, she coauthored a book called Just Action: How to Challenge Segregation Enacted Under the Color of Law.
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