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An impact-first approach to investing requires [investors who are]willing to accept below-market-rate returns. Five years ago, BII launched a cohort-based approach to help organizations in other communities set up similar funds. Activating these funding streams will be challenging but not impossible.
In California, public banks are barred from competing with local financial institutions. Instead, public banks partner with local banks to expand community-driven impacts. Along with the business plan, the regulators will expect three years of detailed financial projections, an identified CEO, and a proposed board of directors.
Politicians are influenced by money as much as or, frankly, often much more than votes, and publicpolicy is the product of calculating trade-offs between the two. Policy changes without accompanying operational support and infrastructure are like trees without roots.
Public bankscreated by governments and chartered to serve the public interestoffer a powerful model to advance racial equity, public accountability, and community self-determination. In New York, the public banking movement has taken root.
Typically, a one-megawatt solar array can power at least 400 homes for a year at a cost of about $4 million—making this cost-prohibitive to most communitydevelopers. What are some practical strategies for building local capacity and breaking a colonial mindset around community energy production?
Image Credit: Brian Koellish on iStock Nearly a third of US communities are CDFI deserts. In these turbulent times, many leaders of the nations growing network of communitydevelopment financial institutions (CDFIs)which now collectively manage $468 billion in assets, a 615 percent increase over the past decadehave high hopes.
Image credit: Chris Briggs on unsplash.com Dr. Akilah Watkins, who previously led the Center for Community Progress and has been a leader in the CEO Circle, a group of communitydevelopment leaders of color, became president and CEO of Independent Sector in January 2023. I don’t want that just to stay in communitydevelopment.
That dismal track record raised the ire of the US Small Business Administration’s inspector general, who condemned the agency’s failure to prioritize rural and underserved markets as the PPP program was rolled out. The people of Massachusetts are also pushing for a public bank to benefit small businesses and communitydevelopment.
For example, Limpopo returned over US $6 million in unspent grants —money earmarked for communitydevelopment—back to the Treasury from 2022 to 2023. Philanthropy often supports neoliberal policies that reinforce the market power of elites—and perpetuate poverty. Where is philanthropy? Not in Limpopo and Eastern Cape.
Nelson Colón of the Puerto Rico Community Foundation, and Clara Miller, president emerita of the Heron Foundation—come from philanthropy. Black Lives Matter or Pride Month marketing campaigns might lead us to believe these movements are attracting all the funding they need, but they are not.
“From Owing to Owning,” reads a sign at the entrance of Plaza 122, a 29,000-square-foot strip mall near the corner of SE 122nd Avenue and SE Market Street in Portland, OR. What makes the strip mall unique is its community ownership. Paul, tells Duranti-Martinez, for publicpolicy to go beyond funding community ownership “experiments.”
Montana’s nonprofit sector strengthens the foundation of our communities, making them stronger, healthier, and more vibrant. Nonprofit leaders play an important role in shaping publicpolicy. Foster public/private partnerships where possible.
15 Today’s economy places a premium on being able to access social networks to jump from job to job, which reinforces existing privilege, because the very definition of social networks in the job market depends on having connections in high places. 23 William Gale, codirector of the Urban Brookings Tax Policy Center, concurs.
We also work with peer philanthropies on policy, advocacy, and organizing to pool grants, co-invest capital, and collaborate on learning opportunities for funders and the field. Our main strategy is to build and support the infrastructure needed for a powerful, grassroots-led housing justice movement.
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