SPOTLIGHT: Change Capital Fund

Change Capital Fund (CCF), launched in 2012, is an innovative funding collaborative that is expanding economic opportunities for individuals and families by investing in the development of new, data-driven strategies created by leading community organizations. The sixteen funders of CCF include: Altman FoundationCapital OneCiti FoundationDeutsche Bank Americas FoundationEnterprise Community PartnersF.B. Heron FoundationJPMorgan ChaseLocal Initiatives Support CorporationM&T Charitable FoundationMitsubishi UFJ Financial GroupMizuho USA FoundationNew York City Center for Economic OpportunityNew York Community TrustNew York FoundationScherman Foundation and United Way of New York City.

CCF is providing four non-profits with $1 million in funding and technical assistance support over four-years to create and implement new strategies that turn persistently low-income neighborhoods into communities of opportunity. The four organizations, chosen for their strong community ties and leadership in the housing, education, and job-creating fields, are:
  • Cypress Hills Local Development Corporation is increasing affordable housing, generating manufacturing jobs, and building a continuum of educational services for residents of Cypress Hills and East New York.
  • Fifth Avenue Committee is implementing the "Stronger Together" partnership with Brooklyn Workforce Innovations, Red Hook Initiative and Southwest Brooklyn Industrial Development Corporation to improve educational and workforce outcomes, particularly for the young adults living in Red Hook and Gowanus public housing.
  • New Settlement Apartments is building greater continuity, coordination and intensity of housing, education and employment services for residents in the Mount Eden section of the South Bronx.
  • St Nicks Alliance's NABE 3.0 is reducing homelessness and improving educational and workforce outcomes for the most at risk residents in North Brooklyn, particularly the low-income residents of the Williamsburg Houses.
St. Nick's Alliance
In the first two years of the initiative, the groups have served over 9,000 people and increased their ability to document outcomes across their programs, including:
  • Grantees made 790 job placements over two years with an average wage of $11.93 in the second year (an increase of $1.21 over the first year).
  • More than 1,000 students enrolled in college through a college access program (with an 81% persistence rate, higher than the national average).
  • The number of adults achieving training or education outcomes increased from 117 in the first year to 427 in the second year.
  • Grantees expanded their program integration, as indicated by increasing referrals, from 248 in year one to 673 in year two, and improving the rate of completed referrals from 57% to 69%.
After School Program in Cypress Hills
To learn more about Change Capital Fund, visit www.changecapitalfund.org
 
Change Capital Fund is among the organizations in our roster that have used our meeting space. For the full list of groups, please visit our website