CDFI-Foundation Sharing Session #1

29Jul2020
DATE & TIME: 
Wednesday, July 29, 2020
1:00pm - 3:30pm CDT
LOCATION: 
Webinar
ADMISSION FEE: 
$0.00
MEMBER ADMISSION FEE: 
$0.00

Join MCF as we continue to unroll the Integrated Capital Recovery Program. We will hold 4 sharing sessions starting the last week of July going through the first week of August. During these sessions, CDFIs (community development financial institutions) will share information about their organization as well as their community’s financial needs. Each 2-hour session will be divided to allow time for various CDFIs to present each day. After the presentations, there will be foundation-only time allotted for internal discussions about possible interest from foundations. The presentations will be recorded for viewing afterward on the Integrated Capital Recovery Program’s webpage.

Session Themes and Presenters

During the four CDFI-Foundation Sharing Sessions, we'll hear from the following organizations, grouped around themes based on similarities between the CDFIs. The CDFIs may be broader and cut across multiple themes. Additional presenters will be added, as they are confirmed.

SESSION #1: BIPOC Centered: Primary focus is on serving BIPOC communities and staff/board reflects this commitment. Varies in how they do this (loans for businesses, housing, cars, and support organizations) but similar in their primary focus.

  • Mni Sota Fund
  • MEDA (Metropolitan Economic Development Association)
  • Catalyst Consortium including African Development Center of Minnesota; African Economic Development Solutions; Community Reinvestment Fund, Inc.; Latino Economic Development Center; Metropolitan Economic Development Association; and Northside Economic Opportunity Network (NEON)
  • NeDA (Neighborhood Development Alliance)
  • Leech Lake Financial Services

SESSION #2: Affordable Housing: Primary focus is on affordable housing. Includes capital for homeowners, affordable housing production, and for nonprofits/CDFIs purchasing foreclosed properties. Varies in impact on BIPOC communities.

  • LISC Duluth
  • Greater Minnesota Housing Fund
  • NeighborWorks Home Partner
  • Habitat for Humanity of Minnesota
  • Twin Cities Habitat for Humanity

SESSION #3: Innovative Solutions: Does not fall into the first 2 categories and provides or promotes innovative solutions to social issues. Provides capital for cooperative/employee ownership, interim ownership of distressed community properties, and nonprofits.

  • Sunrise Banks
  • Shared Capital Cooperative
  • First Children's Finance
  • Propel Nonprofits
  • LISC Twin Cities and Land Bank Twin Cities

SESSION #4: Small Businesses/Entrepreneurs: This includes CDFIs with a focus on the Twin Cities or Greater Minnesota. Those in the Twin Cities provide business loans and technical assistance to specific neighborhoods. Some grey areas with the BIPOC-centered list, but the primary focus here is people of most need in these places. Those in Greater Minnesota operate in rural regions, or mostly serve rural businesses. Some also serve tribal nations or immigrant populations, but the primary focus is on rural regional needs.

  • Neighborhood Development Center (NDC)
  • Metropolitan Consortium of Community Developers
  • Northwest Minnesota Foundation
  • Entrepreneur Fund
  • Initiative Foundation

Session Goals

Overall Session Goal: Develop increased understanding and deeper relationships between MCF member foundations and Minnesota CDFIs

CDFI Goals: Share stories from your communities and provide core organizational information to foundations

Foundation Goals: Differentiate between the 23 CDFIs, find what fits for your foundation, and share your perspective with communities 

This is an MCF-members only event. Call-in details will be in your confirmation email.

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