Funds for Businesses in Economically Distressed Communities

In a "fact-finding" trip to Washington, my husband and I met a government representative who almost convinced us to set up a credit union. (Whew! that was close.) That was years ago, but now I am considering how it could help the community if a few faith-based organizations did just that. If not a credit union there is another possibility called a Community Development Entity (CDE). A certified CDE is a domestic corporation or partnership that is an intermediary vehicle for the provision of loans, investments or financial counseling in “Low-Income Communities” (LICs) under the New Markets Tax Credit Program.

Another goal to reach for is becoming a certified Community Development Financial Institution (CDFI), which "is a specialized financial institution that works in market niches that are underserved by traditional financial institutions. Some of the certified entities may be names that you know- well. (Click here to view a list by state.)

Community Banks are Awarded Funds to Invest in Economically Distressed Communities

Did you know that Funds for Small businesses with difficulty obtaining traditional loans are available? Did you know that there was a recent announcement about funds being released to banks who expressed a purpose in serving economically distressed communities? Have you heard about these resources at all in the past 15 years? Well for over 15 years these resources have been in existence. Since its creation in 1994, the Community Development Financial Institutions (CDFI) Fund has awarded almost $1.3 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the Bank Enterprise Awards program, and the Native American CDFI Assistance program. In addition, the CDFI Fund has allocated $29.5 billion in tax credit authority to community development entities through the New Markets Tax Credit Program.

I published an article in my blog about the CDFI some years ago and believe that it is time to revisit this vital information. You may be surprised to learn about past and present recipients of these funds. The list raised my eyebrows just a bit. I thought, so that's how they were able to buy up a small portion of the city. You may find it interesting to read about who has been awarded funds as well as the promises they made for receiving the funds. (See Award lists and Awardee Profiles)

The important point to note is that they were funded under the promise of reaching out to distressed communities and offering financial assistance to improve the economic condition. One of the mandates is that they provide assistance "in census tracts where at least 30 percent of the population lives at or below the national poverty level and where the unemployment rate is 1.5 times above the national average."

Perhaps you know of some faith-based organizations that want to step up to the plate and make a difference to the communities in need by making sure that they have access to (or at least know about) these funds. I plan to spread the word to as many people as possible as well as learn how to put some oil in my lamp so that I can be on the other side of the door. (This is code especially for those who can understand.) Also, I believe that sharing this information will help locate potential partners, which is essential because this is one of those efforts that will work best with collaborative resources.
Learn more about the Bank Enterprise Award Program...

The Power of Building a Family Legacy of Faith & Good Works

Faith can hold a family together in times of uncertainty and crisis. Having a legacy of faith will help to keep a family together for generations to come. A shared faith is a foundation upon which the family can contribute to the good of society as a whole. Faith Legacies is about having something to show for our existence that makes a difference in others and causes them to give glory to God.

I believe that if all we care about is how to serve ourselves, then our living is in vain. I also believe that the legacy we build will influence whether we leave hardship or inspirational memories behind.

Having attended many funerals, I am saddened by the times that I experienced when the departed had apparently left nothing that would cause others to honor their memories. One can only imagine the painful void of existence that develops with the loss of a loved one whose memory lacks positive thoughts.

Still, there are those who have turned painful memories into wonderful causes. Many popular human service efforts have been birthed through tragic losses such as America's Most Wanted and Mothers Against Drunk Driving (MADD). At the same time, there are other efforts that are less popular, although just as vital.

I was fortunate to have a mother who taught us the importance of building and leaving a legacy of loving and serving others. My mother and her siblings knew the trauma of being uprooted from their family after a devastating fire that resulted in great loss and hardship. They knew the importance of having a caring community of family to help rebuild their lives after such a tragedy. Perhaps this was the major factor in how they worked together to establish a family of love, faith and family unity that included reaching and helping others outside of the family. I

even realize the impact that this legacy has made on our children who also care about loving and helping others.

I am very appreciative of how we, as a family continue to receive correspondence from those who now have good jobs, stable families or are pursuing educational goals as a result of our serving them. Some are simply happy to let us know that they are still alive, considering where their lifestyles were leading them. But most of all, each of them continues to give glory to God for changing their lives in tangible ways. This is what I consider to be a Faith Legacy.

The Faith Legacies project is developed to help people succeed in building a legacy of good works that will last beyond their lifetime. Although it is not a requirement for salvation, the Scriptures teach that we will be judged by our works. Revelation 20:13 This is not to be confused with Salvation which is not obtained through works. This is also not to be confused with "The Work" that Jesus mentions which is believing in Him. John 6:29 But Jesus explained, when questioned about who He was, saying, to "believe the works" that he did. John 14:11 And when asked about if He was the Christ, gave a list of His works as evidence of who He was. Luke 7:22

I also believe (and have witnessed) that special privileges are granted to those who labor to build and maintain good works on behalf of our Lord. Human Services Outreach may be the fishes and loaves for reaching the masses of today. (Titus 3:8) Faith Legacies is developed to help believers in establishing and structuring legacies of good works through Human Services Outreach. Evangelizing through Human Services Outreach is not an easy endeavor, but is one that reaps rewards even beyond our natural existence. (Galatians 6:9) I pray that all believers are encouraged to establish legacies of love, hope and faith through working to meet tangible needs for others.

Ministering to the Wealthy

Since getting involved with faith-based philanthropy, it has been one of my primary goals to connect worthy causes with willing donors. In one of the workshops that we hosted, we had a presenter from Virginia who was responsible for managing money for wealthy donors. This man captivated our attendees with his unusual and valuable insight. But he made one statement in our seminar that had a profound effect on me. He stated that he felt that we needed to “find ways to minister to the donor.” He went on to give examples of encounters that were shared by wealthy donors. That is when I realized that wealthy donors also have needs besides their philanthropic goals.

Donors need to feel confident that they are investing in an organization that will prove their ability to improve the lives of those who suffer from the problem being
eliminated.

They also need to:
• know that their donations are being given to good stewards.
• feel like their donations are investments that have a lasting positive impact on eliminating a problem.
• feel like their contributions (however small) will be appreciated.
• feel like an organization is not solely dependent upon them to sustain their efforts.

But most of all, I believe that donors need our prayers and encouragement. They need to be viewed as much more than a paycheck. Donors are also partners who have a stake in the success of whatever initiative that they support.

My book called “National Treasures – U.S. Foundations Grants” includes a list of donors who are clearly committed to giving to causes that will make the world better for underprivileged people. In my research, I especially selected those donors that had a history of giving to faith-based causes.

It occurred to me that the donors featured in the National Treasures book are in need of significant prayer covering. After you get the National Treasures-U.S. Foundation Grants book, begin praying for your intended donors immediately. Also pray that you will have favor with them.

You may even send them a letter of appreciation before you send one asking for money. Let them know that you appreciate their concern making the world better through their generosity.

Even if you are turned down at first, continue praying for them and encouraging them. You will be surprised to see how this simple gesture of support can transform a rejection letter into a cheerful gift.

Developing a Compelling Problem Statement

A Problem Statement is not the same as a Needs Statement. This clarification is being stated up front because as a grant reviewer, one of the points that I have had to discuss with fellow reviewers is whether or not the applicant offered a valid Problem Statement as requested. Many times the needs are given without providing a clear explanation of the problem that is associated with the stated need.

For example, some proposals may provide a list of needing funds for school supplies, youth stipends, life skills development or mentoring, etc. However they may neglect to describe just how these resources will eliminate or reduce a critical issue or problem.

Before writing a problem statement it is important to first understand what could be considered a problem. NEXT