Individual Wealth Building

ACTION-Housing Inc.

Founded in 1957, ACTION-Housing empowers people to build more secure and self-sufficient lives by providing decent affordable housing, essential supportive services, asset building programs, and educational and employment opportunities.  Since 1985, ACTION-Housing has developed or assisted in the development of over 4,500 units of housing for the elderly, people with disabilities, homeless individuals, veterans, and working families.  It also has a Family Savings Account Program, which will match, dollar for dollar, participants’ savings that will be used to purchase a home, educate themselves or a child, or start a new business.  Since the program’s inception in 2002, 416 people have reached their savings goals.

The Color of Wealth in Los Angeles

Melany De La Cruz-Viesca et al.

This new report from the Federal Reserve Bank of San Francisco seeks to better understand the factors that influence and create disparities in wealth accumulation, particularly intergenerational resource transfers, historical context, and local asset markets. Researchers draw on data from the National Asset Scorecard for Communities of Color (NASCC) survey, the first of its kind, to assess wealth disparities among different racial and ethnic groups in Los Angeles and inform multifaceted policy solutions tailored to distinct community needs.

HomeOwnership Center of Greater Dayton

Founded in 2002 by St. Mary Development, HomeOwnership Center of Greater Dayton is an independent nonprofit aiming to empower people to achieve and sustain homeownership and financial success.  Programs include financial education classes, homebuyer classes and coaching, and down payment assistance.  The nonprofit is credited with facilitating more than 500 new mortgages and helping more than 3,500 families avoid foreclosure. Read more about HomeOwnership Center of Greater Dayton...

Minority Business Partnership

Minority Business Partnership (MBP) aims to grow Dayton-area minority business enterprises by advocating for increased minority business participation in supply chains and facilitating strategic business partnerships.  Established as the Minority Economic Development Council by The Dayton Foundation and The Dayton Business Committee in 2007 to foster strong local minority businesses, the group was renamed MBP in 2010 and brought under the umbrella of the Dayton Area Chamber of Commerce.  As of 2012, MBP was working with 27 minority businesses and had 136 buyers and suppliers registered on its “bid portal,” which connects minority businesses to procurement opportunities.

Leaders for Equality and Action in Dayton (LEAD)

Founded in 1992, Leaders for Equality and Action in Dayton (LEAD) is an organization comprised of a diverse array of Dayton-area congregations seeking to empower and prepare people of faith to work for a greater degree of justice in Montgomery County.  Concerned about inequities between area neighborhoods, LEAD created its Dayton Works Initiative in 2014 to explore the common ownership of productive assets that could anchor capital and jobs locally.  LEAD is now working on a two-year research project in collaboration with the City of Dayton and Cincinnati-based cooperatives to determine what types of cooperatives could succeed in the area and identify anchor institutions and funding to support the project.

Mercy Connections

Mercy Connections is a nonprofit working to nurture self-sufficiency through education, mentoring, and community engagement.  Its Women’s Small Business Program provides one-on-one financial empowerment coaching as well as a range of classes to help women evaluate the merits of self-employment and develop business plans.  In FY 2014-15, it is credited with helping 18 women start or expand businesses.

Champlain Valley Office of Economic Opportunity (CVOEO)

Founded in 1965, the Champlain Valley Office of Economic Opportunity (CVOEO) aims to provide individuals with basic needs in times of crisis and to help them develop the knowledge, skills, and assets needed to thrive into the future.  Headquartered in Burlington, the nonprofit serves over 25,000 people a year in northwest Vermont.  In 2014, its micro-business development program catalyzed 76 business start-ups and expansions, creating 87 new jobs, and its free income tax program served 1,246 households, returning $1.8 million to the state economy.  CVOEO also offers an Individual Account Development (IDA) program, which matches every $1 saved to purchase a first home, finance post-secondary education, or start or expand a business with another $2 over a two year period.

Capital Area Housing Finance Corporation

Established in 1981 to help provide affordable homes to workers in Central Texas, Capital Area Housing Finance Corporation now serves families across nine Central Texas counties.  The Austin-based nonprofit’s Single Family Housing program, which provides first-time homebuyers with down payment assistance, is credited with helping 3,500 people purchase homes.  Its Multi-Family Housing program finances the construction or acquisition of below-market rate rental properties and is credited with financing 3,500 units.

Profeta Urban Investment Foundation

Profeta Urban Investment Foundation helps launch and expand minority businesses in Newark by providing encouragement, expertise, and interest-free loans to entrepreneurial, minority-owned businesses wanting to open or grow in Newark.  Committed to supporting the revitalization and renaissance of Newark, the nonprofit specifically helps businesses that return value to the city by making jobs available to residents and providing the goods and services that residents need.  Since its establishment in 2007, Profeta Urban Investment Foundation has helped launch six minority-owned businesses. Read more about Profeta Urban Investment Foundation...

New Jersey Institute for Social Justice

Established in 1999 by the Alan V. and Amy Lowenstein Foundation, The New Jersey Institute for Social Justice (NJISJ) is a Newark-based urban research and advocacy organization dedicated to the advancement of New Jersey’s urban areas and residents. To achieve its objectives, NJISJ focuses on policy-related research, development and implementation of model programs, advocacy efforts, litigation when appropriate, and sustained public education. Its Workforce Development and Training Programs prepare residents in the greater Newark region for meaningful employment, and since 2001, have served over 1,000 residents (with over 500 entering higher-wage construction and building trades).  In 2011, NJISJ began an Anchor Institutions Initiative, which aims to increase the number of construction, service, and maintenance positions available to urban residents by bringing together diverse partners to assess the incorporation of community benefit terms into bond covenants for construction of large-scale facilities by anchor institutions.

New Jersey Citizen Action

Headquartered in Newark, New Jersey Citizen Action (NJCA) aims to protect and expand the rights of individuals and families and ensure that government officials respond to the needs of people.  To ensure community members have the technological skills to make smart financial decisions, NJCA established a Financial Education & Technology Center in Newark in 2000, and a second location in Camden in 2002.  Through the Centers, first-time homebuyers can participate in a free loan counseling program (which is credited with helping over 10,000 families purchase homes), and residents can access free tax preparation, financial education, and technology workshops.  The Centers also provide financial literacy training to individuals participating in New Jersey's Individual Development Account Program.

Institute for Entrepreneurial Leadership

The Institute for Entrepreneurial Leadership (IFEL) works to stimulate economic development in inner city communities by accelerating the growth of small businesses, particularly those with women and minority owners.  IFEL services include business consulting, financial modeling, leadership coaching/training, and Quick Books training.  From its initial pilot program in 2004 with just 5 Newark-based entrepreneurs, IFEL now serves about 100 people a year.  It also runs GrowSpace, a co-working office aiming to provide a supportive environment in which entrepreneurs can grow. Read more about Institute for Entrepreneurial Leadership...

City First Enterprises (CFE)

City First Enterprises (CFE) aims to promote social justice by increasing economic access and expanding opportunity for low-wealth communities.  To do so, the organization works to incubate and nurture solutions that channel capital and services to people and places without access.  Demonstrating this approach, CFE has launched City First Bank, City First Homes, and City First New Markets Tax Credit Venture Fund, which, in total, are credited with supporting over 5,000 units of affordable housing, 7,000 school seats, and 3,400 jobs.  Currently, CFE is working with a consortium of local funders to implement a Community Wealth Building Initiative, which aims to foster more wealth-building jobs and harness the spending power of area anchor institutions by creating green, sustainable, employee-owned businesses that provide anchors with needed products and services.

High Tech Rochester

High Tech Rochester (HTR) is a nonprofit working to catalyze entrepreneurship and innovation-based economic development within the Rochester region.  To do so, High Tech Rochester offers a range of services including technology commercialization, business incubation, and growth services to support the formation and profitable growth of companies in the greater Rochester area.  Since 1997, HTR has assisted more than 1,000 local entrepreneurs and supported 84 start-ups through its multi-year incubation program.  Since 2010, it has also supported 180 small and mid-sized manufacturing companies in the area, creating a $496 million positive economic impact in jobs, revenue, investments, and cost savings.

Urban Solutions

Established in 1992, Urban Solutions aims to strengthen underserved neighborhoods by supporting small businesses, job creation, diversity, and sustainability.  To do so, it offers a range of free business services, including individual consulting, workshops, and leasing assistance. Since its founding, Urban Solutions has served more than 4,900 small business clients and distributed $24.5 million in loans, leading to the creation of 665 jobs. Read more about Urban Solutions...