PORTFOLIO ADVISORY BOARD
The nonprofit organizations which received funding in 2009 address various domestic and international projects and programs that: foster rebuilding efforts in hurricane affected gulf regions; worker-owned cooperatives; provide access to capital for quality affordable housing; provide enhanced supportive housing for persons who struggle with chronic and persistent mental illness; develop worker training programs and provide links to jobs for people in need.
Through investments made in community organizations the Congregation is able to continue to carry out its mission. It is by partnering with these community-focused groups that these financial resources are able to have a critical impact where otherwise there may not have been a presence.
The General Council accepted the recommendations of the Portfolio Advisory Board for the 2009 loan applications.
New Hampshire Community Loan Fund (NHCLF), Concord, NH
The NHCLF assists people with low incomes to secure financing for affordable housing, to create or preserve jobs or to gain access to reliable childcare and other essential services.
RCAP Solutions (Financial Services), Garner, MA
The mission of RCAP Solutions Financial Services is to promote community development by improving the social and economic conditions of underserved people and distressed communities and to develop and foster self sufficiency among persons and families; and to improve the quality of life through the provision of education, financial services, and technical assistance.
Commonwealth Revolving Loan Fund (CWRLF), Kent, OH
CWRLF, founded in 1986, is a focused economic development loan program whose purpose is to lend money to employee-owned companies or cooperatives for expansion, facilities, machinery and equipment, vehicles. The lending is focused on enterprises and projects in Ohio and nearby areas of the contiguous states.
Cornerstone, Inc., Washington, DC
Cornerstone is a nonprofit housing development organization that finances quality affordable and supportive housing in the District of Columbia for persons who have serious and persistent mental illness. The population served is very poor. There are more than 20,000 residents with mental illness in the District of Columbia.
Forward Community Investments (FCI), Madison, WI
FCI is a revolving loan pool that provides financing and technical assistance exclusively to nonprofit organizations that serve low-income people and communities in Wisconsin. Among the initiatives funded are affordable housing, community service and economic development projects.
Cooperative Fund of New England (CFNE), Wilmington, NC
CFNE is a CDFI that is a bridge between socially responsible investors and cooperatives, community oriented non-profits and worker-owned businesses in New England. CFNE provides much needed capital and vast amounts of technical assistance especially within poorer communities.
Southern Mutual Help Association (SMHA), New Iberia, LA
The mission of SMHA is to build healthy prosperous rural communities in Louisiana. SMHA provides first-time homeownership through a program called Louisiana Rural Home Loan partnership (Louisiana RHLP). Their work in rural communities is focused on people’s growth and their own empowerment.
Chicago Community Loan Fund (CCLF), Chicago, IL
The CCLF mission is to provide low-cost, flexible financing and free/low-cost technical assistance to nonprofit community development organizations for affordable housing, economic development and social service initiatives in low-and moderate-income neighborhoods through the Chicago Metropolitan area. They work creatively to rejuvenate neighborhoods and improve lives for low-wealth individuals and families who live in those communities.
San Luis Obispo Co. Housing Trust Fund (SLOCHTF), San Luis Obispo, CA
The purpose of SLOCHTF is to provide financing and technical assistance to private developers, nonprofit corporations and local governments to support the creation and preservation of affordable housing. They were formed with the goal of supporting and increasing the supply of affordable housing for the very low and low-to-moderate income residents of San Luis Obispo County, which includes persons with special needs.
Currently held certificates of deposits are in the following community banks and credit unions:
· Appalachian Federal Credit Union, Berea, KY
· First Delta Federal Credit Union, Marks, MS
· Hope Community Credit Union, Jackson, MS
· Latino Community Credit Union, Durham, NC
· Mission Area Federal Credit Union, San Francisco, CA
· National Federation of Community Development CU, NY, NY
· Native American Bank, Denver, CO
· Northeast Community Federal Credit Union, San Francisco, CA
· Sisseton-Wahpeton Credit Union, Agency Village, SD
· Southern Development Bancorp, West Helena, AR