Responding to the destruction caused by Hurricane Sandy, The New York Community Trust made a $1 million loan to the NYC Nonprofit Recovery Loan Program, a $26 million bridge loan program developed to fund legal assistance for nonprofits as well as to educate them on federal reimbursements and filing procedures. The foundation has also made commitments totaling $225,000 to encourage low- to moderate-income people to join in New York City’s participatory budgeting process, an innovative community engagement program in which residents have the opportunity to be active in public spending and revenue decisions. In 1980, the foundation incubated a CDFI, the Nonprofit Finance Fund (at the time known as the Energy Conservation Fund), which has loaned over $287 million to nonprofits and social enterprises around the country. In the last three years, The Trust has granted more than $500,000 to nonprofits specializing in small business development; grantees offer a range of services from revolving loan funds to legal assistance.
The New York Community Trust
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