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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
Coastal Enterprises in Brunswick, Maine received $25 million, the NonprofitFinance Fund was awarded $22 million, and Craft3 in Seattle announced it received $15 million. This is Scott’s second grant to LISC, one of the nation’s largest communitydevelopment organizations.
Unlike operational grants, which typically support current programs and administrative needs, enterprise capital is funding that is focused specifically on helping nonprofits build the organizational infrastructure to engage in long-term, high-impact, systems-change work, while growing financial resilience.
In Washington, DC, the city’s Department of Housing and CommunityDevelopment reports that 18,300 units of affordable housing of this kind became unaffordable between 2006 and 2017. This is no small matter. This loss of affordability is related to other challenges that DC renters and the city have been facing.
If we want nonprofits to support us in the next crisis, they must have sufficient resources. And to know what nonprofits need to do their jobs effectively, we must ask them directly.
Aisha Benson , CEO of the NonprofitFinance Fund , emphasized the long-term impact of redlining , a policy of legalized housing lending discrimination backed by the federal government from the 1930s until the passage of the Fair Housing Act of 1968.
I work with many nonprofit groups that could be deeply impacted by the proposed cuts. Programs like 21st Century Community Learning Centers, those funded by CommunityDevelopment Block Grants, and many more. Do you know where things stand with your nonprofit'sfinances?
Over the past decade, both secular building interests and dozens of churches and religious organizations have planned, financed, and constructed affordable housing and communitydevelopment projects across the United States and Canada.
CRH’s salvation eventually came in the form of a collaborative approach, pivoting toward a combination of emergency funding provided by a small family foundation; a nonprofit, non-extractive loan fund; a third-party investment firm; and a coalition of Latinx communitydevelopment financial institutions (CDFIs).
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