Groundbreaking Funding Model Puts Solar Energy Within Reach for Nonprofits
National Development Council Program Funds Solar Installation and Green Renovations for
NDC unveiled the new financing model Friday at the Gasser Foundation's ribbon cutting ceremony, attended by Bay Area business leaders and policy makers, representatives of U.S. Rep.
Green energy projects are normally difficult for non-profit organizations to develop because they are ineligible for federal tax incentives. However, NDC joined the Gasser Foundation to help secure alternative sources of funding for the project, which was designed to maximize the economic benefit to the community. Nationally recognized for its work in community housing and other community development projects, NDC devised a unique financing model to secure approximately
"This is truly a groundbreaking project for the National Development Council as well as for the non-profit community," said
"The Gasser Foundation believes we must demonstrate our tangible commitment to sustainability -- and through this partnership with National Development Council we hope to open doors for the long term benefit of many nonprofit organizations on which our community depends," said
The renovated Gasser building features state of the art solar panels installed by
"We commend NDC on its innovative financing approach, allowing nonprofit organizations like Gasser to fully benefit from solar energy and other sustainable initiatives," said
The National Development Council is one of the oldest national non-profit community and economic development organizations in the U.S. It was founded in 1969 with one purpose: increasing the flow of capital for investment, jobs and community development to under served urban and rural areas across the country.
SOURCE National Development Council