Nonprofit Finance Fund Names Recipients of Capital and Capacity for Economic Recovery Grant Competition

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Aug 10, 2010, 08:30 ET

10 Philadelphia-Area Nonprofits Receive Grants and Technical Assistance to Spur Local Economic Recovery

PHILADELPHIA, Aug. 10 /PRNewswire-USNewswire/ -- Nonprofit Finance Fund (NFF) today named the 10 Southeastern Pennsylvania nonprofit organizations that will receive funding and technical assistance through the 2010 Capital and Capacity for Economic Recovery (CCER) grant competition. The program, created with funding NFF received from the U.S. Department of Health and Human Services' Strengthening Communities Fund, was developed to promote economic recovery and improve the financial health and business acumen of Philadelphia-area nonprofit organizations.

"By building the financial durability and capacity of Philadelphia's nonprofits -- a crucial part of the regional economy -- we are in turn promoting economic recovery for individuals and families most affected by the recession," said Miles Wilson, NFF's Philadelphia Program Director. "The organizations selected to participate in the Capital and Capacity for Economic Recovery program represent a diverse group of approaches to economic recovery, and are well poised to help strengthen the Philadelphia community."

Organizations selected to participate in the 2010 program are:

Each of these organizations will invest in building their organizational capacity to better serve their constituents. Grants awarded will be used to develop stronger information systems to link constituents to the American Recovery and Reinvestment Act and other benefits, plan for effective community partnerships, and purchase outcomes measurement software. Grantees will also participate in a series of technical assistance workshops run by NFF.

"NFF's Capital and Capacity for Economic Recovery program is distinct from others being offered by U.S. Department of Health and Human Services grant recipients because it focuses on capacity building through a fiscal lens," said Sam Harrell, NFF Senior Associate and CCER Program Manager. "We believe that this niche focus will prove complimentary to the broader organizational development trainings offered by colleague organizations in the region."

NFF Philadelphia serves the Bucks, Chester, Delaware, Montgomery, and Philadelphia counties, providing loans and financial consulting services to nonprofit organizations. They will begin accepting applications for the 2011 Capital and Capacity for Economic Recovery grant competition in the Fall of 2010. For more information, please contact: [email protected].

About Nonprofit Finance Fund

A national leader in social sector finance, Nonprofit Finance Fund connects money to mission success through consulting, innovation, and direct investment. Founded in 1980, NFF (www.nonprofitfinancefund.org) provides services that build the capacity and durability of nonprofits. A leading community development financial institution with over $80 million in assets, NFF has provided over $200 million in loans and access to additional financing via grants, tax credits and capital in support of over $1 billion in projects for nonprofit clients nationwide. NFF has a staff of more than 75 serving nonprofits nationally from offices in New York City, Philadelphia, Newark, Boston, Detroit, Washington, D.C., San Francisco, and Los Angeles.