New Jersey Community Capital (NJCC), the state’s largest community development financial institution (CDFI), has donated a total of $50,000 to the municipalities of Newark, Paterson, Camden, Trenton and New Brunswick. Each will receive $10,000 in funding for specific community organizations or initiatives focused on economic development, youth programs, public health and more. The donation is part of NJCC’s commitment to this year’s Dr. Martin Luther King, Jr. holiday celebration theme – “It starts with me: cultivating a beloved community mindset to transform unjust systems.”
“We’re thrilled to be able to build on Dr. King’s mission and integrate it into our work throughout New Jersey and support such well-deserving community organizations and impactful programming,” said Bernel Hall, president and CEO of New Jersey Community Capital. “These cities are doing crucial work to make New Jersey the best it can be, and partnering with them to do even more will provide better outcomes and opportunities for residents.”
In Newark, Mayor Ras J. Baraka will direct funds to the Newark Community Impact Fund managed by Community Foundation of New Jersey, a philanthropic organization. Paterson Mayor Andre Sayegh will provide Friends of Paterson Parks and Paterson Healing collective with the donations. In Camden, Mayor Victor Carstarphen commends the distribution of funding to Heart of Camden and the Latin American Development Association. Mayor W. Reed Gusciora of Trenton will direct funding to the city’s Department of Recreation and Youth Programs, as well as Howard’s Healthy Choices, a social service organization for students. In New Brunswick, Mayor James Cahill will use the funding for community kitchen Elijah’s Promise and Town Clock Community Development Corporation.
NJCC’s charitable giving corresponds to its work across the state to finance the predevelopment, acquisition, construction, rehabilitation, and mini-permanent needs of affordable housing units for ownership and rental opportunities. NJCC’s lending takes a holistic and equitable approach by financing projects that use the diverse pillars of a community, including small businesses, commercial office and retail spaces and early childhood education centers.
In honor of the life, legacy and impact of Dr. Martin Luther King Jr. and Mrs. Coretta Scott King, NJCC invites you to join us in supporting New Jersey communities. Please consider donating (bit.ly/donatetoNJCC) to further NJCC’s mission of promoting equitable opportunities for all.
To access more business news, visit NJB News Now.Related Articles: