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Nonprofit Fund Raises Private Dollars To Buy Affordable Housing – Before Private Equity Does

Leo Miranda

July 26, 2024 |

Next City |

Text |

Under 800 Words

Response Location: United States

The housing and homelessness nonprofit Community Solutions raised $135 million in private capital to create a fund to buy housing properties and keep them permanently affordable. It promises investors modest returns and looks to buy properties in good condition close to necessary services like grocery stores and health care.

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The best plan to help refugees might also be the simplest

Jacob Kushner

June 23, 2024 |

Vox |

Text |

Over 3000 Words

Response Location: Kenya, Nairobi

The nonprofit GiveDirectly provides refugees with cash to help them sustain themselves, focusing on those living in cities, as they’re less likely to receive the same assistance as humanitarian camps do. Nearly 1,200 people were given $925 to spend however they wanted — some opening bank accounts, others starting businesses — and reported they were able to nearly double their monthly income and after six months, 88% of recipients were earning more money than ever before.

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One Small Credit Union Is Powering Brooklyn's Economy

Oscar Perry Abello Lucas Grindley

May 13, 2024 |

Next City |

Podcast |

Over 15 Minutes

Response Location: United States, Brooklyn, New York

The Brooklyn Cooperative Federal Credit Union provides small business loans to local Black and Brown businesses, through average investments of $24,000. This small, community lender provides more funding to local businesses than larger national banks like Citibank, Wells Fargo and Bank of America, helping support local businesses and finance community development.

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Minneapolis solar nonprofit is proving patience can bring results to lower-income residents

Frank Jossi

January 29, 2024 |

Energy News Network |

Text |

800-1500 Words

Response Location: United States, Minneapolis, Minnesota

The nonprofit Solstar provides free solar panels to lower-income homeowners in Minneapolis by encouraging wealthy individuals to invest in its solar panel installations and cover the costs. The investors earn a modest return on their investment from Solstar and can take advantage of tax credits, while the homeowners see a drop in their electricity bills.

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Arizona mobile home parks are disappearing. This nonprofit wants to save them.

Juliette Rihl

November 01, 2023 |

AZ Central (The Arizona Republic) |

Text |

800-1500 Words

Response Location: United States

In 2008, ROC USA began helping form resident-owned mobile home communities, and since then has assisted in the creation of over 300 such communities in 21 states throughout the U.S, consisting of almost 22,000 homeowners throughout the U.S. The organization works with philanthropic organizations, other nonprofits, insurers, banks and government entities to raise commitments in advance of a park’s purchase.

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How this youth group redefined voter engagement in Adamawa

Yahuza Bawage

August 21, 2023 |

Prime Progress |

Text |

800-1500 Words

Response Location: Nigeria, Adamawa

The nonprofit YIAGA Africa is increasing voter participation in general elections by providing grants to youth across Nigera looking to launch their own voter engagement projects. The grant recipients help people register to vote, run awareness campaigns, and work with local organizations.

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How a mobile-home park saved its community from a corporate buyout

Kirbie Bennett Jamie Wanzek

August 04, 2023 |

High Country News |

Text |

800-1500 Words

Response Location: United States, Durango, Colorado

When the Westside Mobile Home Park went up for sale, it brought the threat of displacement to those who lived there. So, the Elevation Community Land Trust partnered with the residents of the Durango, Colorado, community to form a housing cooperative. Now, the park's land is owned by a community land trust that offers each resident 99-year leases for significantly cheaper than if the park was attached to the real estate market.

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How tax credits and social finance are building a healthy future for Nova Scotians

Diane Bérard

July 24, 2023 |

Future of Good |

Text |

1500-3000 Words

Response Location: Canada, Nova Scotia

Novia Scotia, Canada, created community economic development investment funds with a 35% tax credit to investors to help small businesses that need capital but don’t qualify for bank loans. The cooperative FarmWorks brings together investors and farmers using this funding method to provide loans that will directly support the local food network.

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In the land of honey and nuts: Indigenous solutions to save Brazil's Cerrado

Elizabeth Oliveira

June 27, 2023 |

Mongabay |

Text |

1500-3000 Words

Response Location: Brazil, Mato Grosso

The Resilient Cerrado Project funds Indigenous-community-led economic projects in Brazil’s Cerrado region. Projects like the Terena people’s beehive installation and beekeeper training help to protect the region’s biodiversity, cultural diversity, and improve community members’ welfare.

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How an $18.6 million dollar fund helps community organizations beat speculators and own their own spaces

Diane Bérard

June 06, 2023 |

Future of Good |

Text |

1500-3000 Words

Response Location: Canada, Quebec

More than twenty partners in Quebec (including public and private investors, philanthropic foundations, and labor funds) have joined forces to develop a suite of loan programs designed to help social-purpose organizations beat rent inflation and increase their ability to provide community services. The initiative helps qualifying organizations make real estate purchases quickly, rather than risk losing their existing spaces to other buyers while trying to arrange financing. To date, more than 30 social-purpose entities have already received financial assistance and the program is attempting to expand.

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