Money Moves is a semi-regular column tracking grants made by local funders, including foundations, giving circles, trusts and corporate entities. Send notices to email@example.com.
1. Kensington Lending Partnership launches $5M neighborhood funding initiative to support small businesses, affordable homeownership and housing improvements.
Four Community Development Financial Institutions — Community First Fund, FINANTA, Impact Services Corporation’s Loan Fund, and Philadelphia LISC — make up the Partnership, which JPMorgan Chase awarded the $5 million grant after a neighborhood project collaboration last year. In the coming three years, the Partnership will use the cash to provide capital and coaching to existing and new Kensington small businesses and redevelop mixed-use properties.
“This Partnership brings a combined 135 years of expertise in community economic development and an incredible amount of resources to where they are needed the most,” FINANTA President Luis Mora said in a release. “It is also a unique targeted approach to community revitalization rarely encountered in the Philadelphia area.”
We are proud to kickoff the Kensington Lending Partnership! 4 #CDFIs won a @JPMorgan #PRONeighborhoods Award of $5MM to support revitalization efforts in the #Kensington community & commercial corridor. This is the KLP @CommFirstFund, @FINANTA_, @Impact_KandA, & @LISC_Philly pic.twitter.com/Ay5kA3nHRz
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— Community First Fund (@CommFirstFund) March 25, 2019
2. UnitedHealthcare gave $75,000 to Children’s Scholarship Fund Philadelphia in support of quality education services for low-income K-8 Philly kids.
A 2018 Americas Health Rankings report found 17 percent of local kids younger than age 18 live in homes beneath the poverty line. Education can bridge the gap between childhood poverty and adult health issues, which CSFP is committed to through its network of 170 elementary and middle schools that includes independent, Montessori, special needs and faith-based institutions.
3. Women’s Opportunities Resource Center received $350,000 from Wells Fargo to provide small business owners financial products that don’t break the bank.
WORC will use the funds to ramp up lending to Philly small businesses owned by diverse community members. The grant was part of the Wells Fargo Works for Small Business: Diverse Community Capital program, which partners with Community Development Financial Institutions to financially support local entrepreneurs who couldn’t otherwise afford conventional financing.
4. Rebuild distributes a whopping $13.8 million to Beech Interplex and IMPACT Services to rehabilitate community centers.
The money will help the nonprofits execute major renovations at North Philadelphia’s Cecil B. Moore Recreation Center and Harrowgate’s Heitzman Recreation Center. Beech will use $12 million to completely revamp the Cecil B. Moore location and playground, while the remaining reserves will go toward to a Heitzman improvement project.
“Beech Interplex has been integral to the ongoing revitalization of the Cecil B. Moore area, and to have this local, experienced community development organization as a Rebuild partner for Cecil B. Moore Recreation Center just makes sense,” said City Council President Darrell Clarke in a statement. “Local investment and localized economic return in neighborhoods is exactly what Council envisioned when we authorized the Rebuild program.”
Did you hear? #RebuildPHL has awarded local nonprofits @BeechInterplex and @ImpactServices grant funding to redevelop the Cecil B. Moore and Heitzman rec centers! https://t.co/NGER2kO4i8 pic.twitter.com/CdTNa5PkFG
— Philadelphia Parks & Recreation (@PhilaParkandRec) March 16, 2019
5. The Substance Abuse and Mental Health Services Administration committed to a $4.975 million grant over five years to the Health Federation of Philadelphia.
The multi-year project will subsidize high-fidelity screening, intervention and treatment referrals in the Greater Philadelphia area. The program, which will receive external evaluation through its duration, will impact about 50,000 adult patients at local Federally Qualified Health Center sites, as well as others with substance use disorders.
6. Philly’s charitable giving didn’t end there:
- The Primary Care Development Corporation completed its $19.8 million financing for a 28,000-square-foot elderly care center that will aid more than 480 low-income Philly seniors.
- PhilaPosh received $40,000 from RALIANCE to advance its work addressing sexual harassment in Philadelphia’s service industry through trainings, policy implementation and an awareness campaign.
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