Change Captial Fund Launches Initiative to Support Community Development

Monday, June 2, 2014

New York City Change Capital Fund Launches New Initiative to Support Community Development Groups Tackling Poverty

[Altman Foundation; Bank of Tokyo-Mitsubishi UFJ; Brooklyn Community Foundation; Capital One; Citi Foundation; Deutsche Bank Americas Foundation; F.B. Heron Foundation; Goldman Sachs; Mizuho Bank USA; M & T Bank; New York Community Trust; New York Foundation; Scherman Foundation; and United Way of New York City.] CCF is funding five New York CDCs to help them retool and refocus their strategies and business models to address persistent poverty more effectively.The New York City Change Capital Fund (CCF), a collaboration of 17 foundations and financial institutions dedicated to the revitalization of distressed New York City communities, today announced the launch of a new initiative to harness the strength of community development corporations (CDCs) to reduce poverty in high-need New York City neighborhoods. 

CCF is funding five New York CDCs to help them retool and refocus their strategies and business models to address persistent poverty more effectively...