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Nonprofit Finance Fund
70 West 36th Street, 11th FloorNew York NY, 10018
CDFI Awards for Nonprofit Finance Fund
NMTC (2009) - $60,000,000
Nonprofit Finance Fund (NFF) is a national CDFI financing small and mid-sized nonprofits that are looking to build and renovate facilities, fund growth needs, and expand and sustain operations over time. NFF will use its NMTC allocation to assist child care centers, senior programs, charter schools, homeless shelters, health clinics, advocacy groups and arts organizations, among others, undertaking community facility projects. NFF will provide debt with several flexible features, and debt with equity features, enabling these community nonprofits to both expand programs and stabilize their financial situation.
FA (2009) - $1,900,000
Nonprofit Finance Fund is a certified CDFI established in 1981. It is a national organization that supports nonprofit organizations providing human and social services, education, health care, community development, and arts programming. Nonprofit Finance Fund’s loan products include term loans, lines of credit, and facilities loans. The CDFI will use the FY 2009 FA Award to create a pre-development loan pool for early stage projects.
NMTC (2008) - $50,000,000
Nonprofit Finance Fund (NFF) is a certified CDFI that offers facilities and working capital loans to both nonprofit organizations and their funders. NFF will utilize its NMTC allocation to invest in nonprofits throughout the country. NFF will use a leveraged investment model to offer debt with several flexible features, including below-market interest rates and longer than standard interest-only periods, as well as an equity-equivalent product. Anticipated projects include museums, schools, social service agencies, healthcare clinics, performing arts venues, and economic and community revitalization projects.
NMTC (2006) - $20,000,000
The Nonprofit Finance Fund (NFF) serves small- and medium-size nonprofits with a variety of financial products through its seven regional offices across the country. Dedicated exclusively to nonprofits, NFF's borrowers provide much needed services in Low Income Communities, including child care, senior care, education, health care and recreation. NFF will use its NMTC allocation to create a new product, an equity equivalent financial instrument that will help nonprofit clients to develop a range of facilities projects priced significantly below market. This equity component will enable nonprofits to complete the financing for their projects more quickly and with a more stable financial underpinning.
FA (2006) - $585,000
The Nonprofit Finance Fund (NFF), established in 1984, provides gap financing to help nonprofits maintain, expand or acquire facilities. NFF operates in several markets including: metropolitan New York, San Francisco Bay area, Philadelphia, Chicago and Boston. NFF"s 2006 Financial Assistance Award of $485,000 will increase its lending to non-profits (non-profits that provide educational services or otherwise serve youth nationally), and a Technical Assistance Award of $100,000 will enable NFF to acquire consulting services and purchase software.
CORE (2001) - $1,000,000
The organization will use its $1,000,000 low interest loan to increase lending and development services activities in its existing its service areas and serve two new areas--Detroit and Washington, DC.
CORE (1999) - $1,900,000
NFF will use its $1,900,000 CDFI Fund award ($1,800,000 capital grant and $100,000 technical assistance grant) to provide part of the initial capitalization and to support development and systems costs associated with its Childcare Expansion Consortium (CHEX) that will provide childcare financing in New York City and New York State.
CORE (1998) - $1,000,000
The CDFI Fund"s $900,000 capital grant and $100,000 technical assistance grant will help NFF develop its asset management program, an initiative that NFF refers to as "a 401(k) program for buildings.a€
CORE (1996) - $1,000,000
The CDFI Funds $1 million loan will assist NFF in both its New York efforts and its geographic expansion.
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