|CDFI Fund Launches Second Capacity Building Initiative Series for Native CDFIs||https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=141||CDFI Fund Launches Second Capacity Building Initiative Series for Native CDFIs||<p class="body">
Building upon the success of its first Capacity Building Initiative series for Native
Community Development Financial Institutions (Native CDFIs), the Community Development
Financial Institutions Fund (CDFI Fund) today launched The Leadership Journey II:
Continuing Native CDFI Growth and Excellence. The training series is open to a new
cohort of Native CDFIs to participate in a comprehensive program of targeted training
and technical assistance. The series is provided by NeighborWorks® America with
specialized input from the Seven Sisters Community Development Group.
“The additional resources provided through The Leadership Journey series will provide
even more Native CDFIs with the specialized assistance needed to strengthen their
organizations and serve their communities,” said CDFI Fund Director Donna J. Gambrell.
“Participants in the first training series discovered new ways of looking at their
institutions and how they can position themselves for growth. I am pleased that
we are able to expand this valuable opportunity for Native CDFIs.”
The CDFI Fund has a long history of supporting economic development efforts in Native
American, Alaska Native, and Native Hawaiian communities (Native Communities). The
Leadership Journey II builds upon these efforts by creating a tailored, intensive
program that allows Native CDFIs and their leadership to focus on capacity building
in the context of the distinct challenges and opportunities present in Native Communities.
Certified Native CDFIs will be invited to apply to participate with a unique cohort
of 15 organizations that will collaborate over a two-year period to access training,
technical assistance, and executive coaching opportunities. New components to The
Leadership Journey II include a formal peer mentoring program and the future development
of a virtual resource bank for the CDFI Fund’s <a href="/what_we_do/The_Leadership_Journey_II.asp?programID=13">
The application to participate in <i>The Leadership Journey II</i> cohort is now
<a href="/Lists/CDFI%20News" target="_blank">available online</a>. Complete applications must be submitted
by 11:59 p.m. ET on November 20, 2013. The first week-long training session will
be held in March 2014. Registration costs for the trainings and technical assistance
as well as travel and hotel accommodations will be covered by the CDFI Fund.
<b>About the CDFI Fund</b><br>
The Community Development Financial Institutions Fund (CDFI Fund) was created to
promote economic and community development by empowering America’s underserved and
distressed communities. As part of the U.S. Department of the Treasury, the CDFI
Fund fosters the creation and increases the capacity of community-based financial
intuitions through investments and assistance. Since its creation in 1994, the CDFI
Fund has awarded more than $1.8 billion to Community Development Financial Institutions
(CDFIs) around the country. By increasing funding to CDFIs that specialize in providing
affordable credit, the CDFI Fund helps build businesses, create jobs, and revitalize
For more information about the CDFI Fund, please view the <a href="/Documents/CDFI_Brochure.pdf">
Fact Sheet</a> or visit the CDFI Fund’s website at <a href="/">www.cdfifund.gov</a>.
<b>About the Capacity Building Initiative</b><br>
The Capacity Building Initiative was created to help CDFIs improve their ability
to deliver financial products and services to economically distressed communities
and achieve long-term sustainability. Through training workshops, webinars, market
research, customized technical assistance, and informational resources, the Capacity
Building Initiative helps CDFIs develop, diversity, and grow. The specialized trainings
target important issues that affect CDFIs and the communities they serve.
For more information about the Capacity Building Initiative, please view the <a href="/Documents/CDFI_CBI.pdf">
Fact Sheet</a> or visit the CDFI Fund’s website at <a href="/programs-training/training-ta/Pages/default.aspx">www.cdfifund.gov/cbi</a>.
<b>About NeighborWorks® America</b><br>
NeighborWorks® America (NeighborWorks®) is a national nonprofit organization chartered
by Congress in 1978. Its mission is to create opportunities for Americans to live
in affordable homes, improve their lives, and strengthen their communities. NeighborWorks®
has over 22 years of experience providing training and is recognized as the premier
provider of training in the affordable housing and community development industry.
<b>About Seven Sisters Community Development Group</b><br>
Seven Sisters Community Development Group, LLC is a woman- and majority Native American-owned
national consulting firm, which offers culturally relevant and innovative strategies,
services, and products that create systemic change. Its team of community development
experts works with low-wealth and diverse communities across the country, with a
particular focus on Native Communities. The team brings a broad range of experience
with tribal governments and communities as well as national and local nonprofits,
foundations, corporate organizations, and governmental entities.
|CDFI Fund Releases Application Demand for 2013/2014 Round of NMTC Program||https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=136||CDFI Fund Releases Application Demand for 2013/2014 Round of NMTC Program||<p class="body">
<b>Washington, DC</b> - The U.S. Department of the Treasury’s Community Development
Financial Institutions Fund (CDFI Fund) announced today that it received a total
of 310 applications under the 2013/2014 round of the New Markets Tax Credit Program
(NMTC Program). The NMTC Program encourages economic development in low-income and
distressed communities by making tax credits available to Community Development
Entities (CDEs) for targeted investments in eligible areas.
The CDEs that applied under the 2013/2014 round are headquartered in 43 states,
the District of Columbia, and Puerto Rico. The applicants requested an aggregate
total of $25.8 billion in NMTC allocation authority.
The NMTC Program was established by Congress in December of 2000 and permits individual
and corporate taxpayers to receive a credit against federal income taxes for making
qualified equity investments in CDEs. The credit provided to the investor totals
39 percent of the cost of the investment and is claimed over a seven-year period.
Substantially all of the taxpayer's investment must in turn be used by the CDE to
make qualified investments in low-income communities. Successful applicants are
selected only after a competitive application and rigorous review process that is
administered by the CDFI Fund.
Through the first ten rounds of the NMTC Program, the CDFI Fund has made 749 awards
totaling $36.5 billion in tax credit allocation authority. This $36.5 billion includes
$3 billion in Recovery Act Awards and $1 billion of special allocation authority
to be used for the recovery and redevelopment of the Gulf Opportunity Zone.
For more information about the NMTC Program, visit the CDFI Fund’s web site at <a href="/Programs/new-markets-tax-credit/Pages/default.aspx">www.cdfifund.gov/nmtc</a>.
|CDFI Fund Update: “Strengthening Small and Emerging CDFIs” Capacity Building Initiative Resource Bank Now Available||https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=152||CDFI Fund Update: “Strengthening Small and Emerging CDFIs” Capacity Building Initiative Resource Bank Now Available||<p class="body">
Today, the Community Development Financial Institutions Fund (CDFI Fund) added new
reference materials to its Capacity Building Initiative website in support of the
“Strengthening Small and Emerging CDFIs” training series. The new Resource Bank
supplements the series, which provides comprehensive capacity building services
and resources for small and emerging CDFIs and is tailored for the diverse spectrum
of CDFI participants and the communities they serve.
Topics covered in the “Strengthening Small and Emerging CDFIs Resource Bank” include
the series’ training curriculum, such as examples of organization growth, business
models, and organizational change; and additional resources and tools for emerging
CDFIs looking to increase their community development impact. In the coming months,
the Resource Bank will be expanded to include the series’ technical assistance webinars.
To view the Resource Bank, and to learn more about the “Strengthening Small and
Emerging CDFIs” training series, as well as the other series available under the
Capacity Building Initiative, please visit <a href="/programs-training/training-ta/Pages/default.aspx">www.cdfifund.gov/cbi</a>.