Get to Know the Building Michigan Together Plan: The Housing and Community Development Fund

In March 2022, the Michigan legislature passed the Building Michigan Together Plan (Senate Bill 565): a $4.6 billion bipartisan bill that will offer substantial investments in the state’s infrastructure, including water, housing, roads, internet access, and parks. This is a historic accomplishment and will pose the opportunity for organizations across the state to advance equity-driven […]

Changes to CRA expand opportunities for nonprofits responding to COVID-19

By Brian Rakovitis, manager of financial empowerment initiatives On March 19, 2020, the Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency released a joint statement on CRA consideration for activities in response to the COVID-19 pandemic. The joint statement details changes to financial institutions when working with customers, expands […]

Funding Sources

[table id=44 /] [table id=38 /] “We do everything but hire the Goodyear blimp: direct mail, events, employee gift matching, volunteers, church budget line item or collections.” CDCs wrote what they find to be the most important method of outreach to funders. Responses fit into the following categories. For CDCs with no funders, most funds […]

Annual Operating Budget

With a range from virtually nothing upwards to over $10 million dollars, there is quite a variance in what is happening in the community economic development industry. The majority of respondents had smaller to mid-range budgets and were, for the most part, as likely to see an increase in budget over the past two years […]