New York City Human Services Nonprofits Receive $1.6 Million in "Change Capital"

NEW YORK, Jan. 6, 2015 /PRNewswire/ -- Seven New York City nonprofits are receiving a total of $1.6 million that will fund specific plans to improve the long-term stability of these human services providers.  The grants are part of the Community Resilience Fund, a collaboration designed to help spur recovery of the City's safety net.

Grant recipients include: African Services Committee; Center For Alternative Sentencing And Employment Services; Grand Street Settlement; Leake & Watts; New York City Gay and Lesbian Anti-Violence Project; Palladia, Inc.; and Women's Housing and Economic Development Corp.

These organizations will use the awards to build their ability to adapt to current economic conditions and secure a more stable future. Specific plans include: investments in fee-for-service revenue models, implementing merger activities, developing new branding strategies, fundraising and communications efforts, building infrastructure necessary to ensure quality service delivery, and other efforts designed to prepare the recipients to meet community needs now and in the future.

"Many of our donors want to invest in programs instead of 'overhead,' but investing in AVP's capacity and operations has a major impact on our ability to create positive outcomes in our work," said Sharon Stapel, Executive Director of the New York City Anti-Violence Project. "This grant is a rare opportunity for us to fund changes that will ultimately improve our ability to achieve our mission and reach even more people in need."

The Community Resilience Fund (CRF) launched in 2013 to provide overtaxed social safety net nonprofits with an infusion of specialized expertise and opportunities to fund organizational change. For the past year, Nonprofit Finance Fund has worked with 17 nonprofits and provided tailored financial advice as well as opportunities for participating groups to learn from each other. Change capital grants were awarded to select CRF participants through a competitive selection process. 

"Everyone benefits from a strong social safety net, but the organizations providing critical services often operate on the financial brink as all available resources go to service delivery," said Kristin Giantris, Managing Director of Nonprofit Finance Fund. "Change costs money, and these organizations need resources so that they can adapt to new funding realities, improve operations, pursue new revenue streams, and ensure their long-term ability to deliver services."

Community Resilience Fund funders include Citi Foundation, The Clark Foundation, the F.B. Heron Foundation, The Kresge Foundation and Mizuho USA Foundation.  For more information, please visit: www.nonprofitfinancefund.org/crf.

About Nonprofit Finance Fund
Nonprofit Finance Fund (NFF) unlocks the potential of mission-driven organizations through tailored investments, strategic advice and accessible insights. Founded in 1980, NFF helps organizations connect money to mission effectively through established and innovative approaches to social sector finance. A leading community development financial institution with over $80 million in assets, NFF has provided $550 million in financing and access to additional capital in support of over $1.4 billion in projects for thousands of organizations nationwide. NFF is headquartered in New York City and serves clients from five offices across the country.

SOURCE Nonprofit Finance Fund

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