March 20, 2023 - HARTFORD, CT – The Local Initiatives Support Corporation (LISC) Connecticut today announced it is receiving a $300,000 investment from JPMorgan Chase to support the launch of a capacity building program for seven Black, Indigenous, and people of color-led (BIPOC) community development corporations (CDCs) and community development organizations in Bridgeport, Hartford, New Haven and Waterbury.
Nonprofit organizations often face challenges securing funding for capacity building projects like technology upgrades, staff professional development and communications or volunteer engagement strategies, which ensure they can most effectively serve the community and deliver on their mission. Funding for BIPOC-led organizations is also difficult. A 2020 Bridgespan and Echoing Green study found that when BIPOC led-organizations won unrestricted grants, the funds were 76% smaller than their white-led counterparts, and among BIPOC led-organizations focused on improving the lives of Black men, the unrestricted funds were 91% smaller than those with white leaders.
With this in mind, LISC Connecticut is launching this program to ensure BIPOC-led CDCs can best meet the community development needs of the people and neighborhoods they serve. The program will include the following CDCs, who address challenges of housing affordability, economic insecurity and community revitalization:
LISC is also engaging a consultant, Dr. William Clark, Principal of Eli Patrick & Co to provide each CDC’s chief executive officer with executive leadership coaching, a benefit rarely afforded to nonprofit senior leaders. The consultant will also facilitate peer learning sessions among all seven CDC leaders to learn from each other, share challenges and develop organizational best practices.
Each organization will also receive pre-application support to apply for the United States Housing and Urban Development (HUD) Section 4 Capacity Building grant. LISC Connecticut will provide subgrants ranging from $25,000 to $50,000, depending on the scope of the project and need identified for the grant. These funds will provide support for staff salaries, consultant services, and/or technology/software upgrades to help grow an organization’s infrastructure and expand services. LISC is one of three national administrators for the program.
“LISC Connecticut recognizes the challenges faced by BIPOC-led organizations that often lack the funding, technical assistance and leadership development needed to fulfill their mission of stabilizing and revitalizing communities,” said Rafia Zahir-Uddin, vice president, Global Philanthropy, Connecticut, JPMorgan Chase. “This investment furthers our shared commitment with LISC CT to foster greater economic opportunity for people of color and place racial equity at the center of our neighborhood revitalization work.”