Community development is at the core of NFF's goal to improve the financial management and capitalization of nonprofits that are vital to our communities. We established ourselves as leaders in the field by educating banks and bank regulators on nonprofits' role in community development and in CRA compliance programs. In 1991, at the invitation of the Federal Reserve Bank of New York, we presented the paper, "Nonprofits as Part of Community Reinvestment Act Compliance, Case Examples from the Field," which signaled the Fed's willingness to expand beyond housing mortgages in financing credit-starved neighborhoods and customers. Our advocacy efforts, including testimony to the New York State Banking Department, led to increased bank lending to nonprofits in New York and across the country.
Approximately 70% of our clients are located in or provide services to residents of low- and moderate-income communities. NFF's community development clients include social enterprises, community development corporations, advocates for affordable housing, job training programs and urban redevelopment and revitalization organizations. A few examples of initiatives and partnerships are below.
Workforce Development Initiative (2002-2008)
NFF and Fiscal Management Associates (FMA) partnered with the Workforce Development Funders Group to help social service organizations in New York City better respond to market demand for their services. In addition to receiving consulting services, participating organizations received grants between $25,000 and $50,000 to help cover the cost of implementing NFF and FMA's recommendations.
Four Freedoms Fund Initiative (2007-2008)
NFF teamed up with Carnegie Corporation and the Four Freedoms Fund (FFF) to help small nonprofits fighting for immigrant and refugee rights develop vital financial literacy skills. Participants attended a special Linking Money to Mission Workshoop and were offered followup coaching and financial analysis. Results from the initiative laid the groundwork for improved funding practices.
United Neighborhood Houses of New York (2007-2008)
After receiving a Nonprofit Business Analysis themselves, United Neighborhood Houses of New York (UNH) sought to bring the NBA to its network of member organizations. In this unique nonprofit collaboration supported by the Clark Foundation, NFF delivered NBAs to UNH members to help them make more informed long-term financial decisions. This work aimed to enhance UNH's efforts to increase understanding among public and private funders on the challenges inherent to running multi-service nonprofits.
Nonprofit Recovery Fund (2003-2005)
We provided $10.1 million in awards to 200 nonprofits
in New York City through our Nonprofit Recovery Fund
program. These awards helped offset expenses and income losses
resulting from the World Trade Center attacks. For more information about the awards made through NFF's Recovery Fund, please see our List of Awardees.
The Nonprofit Recovery Fund program was made possible with generous support from: The September 11th Fund created by The United Way of New York City and The New York Community Trust; The Kresge Foundation; The J.P. Morgan Chase Foundation; The Ford Foundation; Home Depot; Deutsche Bank Americas Foundation; MetLife Foundation; The Prudential Foundation; Surdna Foundation, Inc.; Credit Suisse First Boston Foundation; U.S. Trust Company; Newmark & Company Real Estate; Charities Aid Foundation; The Citigroup Foundation; Profit Point, Inc. and The Shefa Fund; Calvert Foundation; Bob Lamm Tzedakah Fund of the Shefa Fund