Tag: Enterprise Community Loan Fund

Preventing “transit-induced gentrification” across the region

HOUSING | With the forthcoming Purple Line in suburban Maryland, and the new Silver Line in Northern Virginia, jurisdictions are trying to keep residents from being priced out of newly desirable locations by working to create affordable housing close to transit lines. (WaPo, 11/29)

The issue, which some experts call “transit-induced gentrification,” is gaining new attention in Montgomery and other once auto-centric suburbs building light-rail and rapid bus lines to revitalize older areas, attract younger workers, and help an increasing number of lower-income residents reach jobs. Focusing growth around transit stations has become the way many inner suburbs plan to thrive without adding to the sprawl that has left them drowning in traffic.
[…]
“Being able to have affordable, reliable and safe transit is critical for a lot of communities, particularly low-income communities because they need that option,” said David Bowers, of the nonprofit Enterprise Community Partners. “But we need policymakers and leaders to be much more intentional about preserving affordable housing along those corridors.”

Related: Housing affordability in the Greater Washington region is a major priority of WRAG. WRAG is a co-convener of the Greater Washington Housing Leaders Group, a collection of more than a dozen public and private sector regional leaders (including David Bowers and Michelle Krocker of the Northern Virginia Affordable Housing Alliance, both quoted in the story above) that is working to elevate the visibility of, and broaden support for bold, thoughtful, and collaborative solutions for the housing affordability challenge across the region.

Also related: And, on December 1, WRAG and Enterprise Community Loan Fund are hosting a webinar on the Our Region, Your Investment initiative, through which local residents, foundations, nonprofits, and banks are coming to the table to invest in affordable homes. Register here.

WORKFORCE
– The DC Council next week will vote on a revised parental leave bill that would give both parents 11 weeks of paid time off after a birth or adoption. If the bill passes, it would be among the most generous family leave policies in the country. (WAMU, 11/28)

Maps of where our region’s jobs are, what types of jobs they are, and what they pay (GGW, 11/28)

ARTS | Impact investing has made its way to the field of arts and social change. (NY Times, 11/25)

NONPROFITS | The National Council of Nonprofits looks at the impact of the 2016 election on the work of nonprofit organizations.

PHILANTHROPY
– Don’t forget: It’s #GivingTuesday! When you’re done reading the Daily, go support the region’s nonprofit community!

– The Hitachi Foundation has announced plans to close in December 2016 with three final gifts.


DC folks: get out and about this weekend and check out the latest murals around the city.

– Rebekah

We Did It!

By Gretchen Greiner-Lott
Vice President, Washington Regional Association of Grantmakers

We did it! Our Region, Your Investment has surpassed its $5 million goal!

That’s right. Since Enterprise Community Loan Fund and the Washington Regional Association of Grantmakers officially launched this impact investing initiative earlier this year, we’ve talked with and presented to regional grantmakers, community members, and local stakeholders about this investment opportunity. The results? Not only foundations, but nonprofit organizations, banks, and local residents have invested almost $7 million in this initiative to preserve and produce affordable housing around the region.

What does this mean? Loans have been made to a variety of projects like Clarendon Court in Arlington that will preserve 103 affordable homes in this prime spot in Northern Virginia within blocks of a metro station. Fifty-nine apartments at Fort Steven Place in DC will be updated and improved to meet green building standards, resulting in healthier homes and reduced utility bills for families. The bottom line is that residents will stay in their homes and their communities and will not be overburdened by the cost of their housing.

The need is massive and more projects are in the pipeline; so we can’t stop now. This isn’t a final report. This is a celebratory update.

Passing the $5 million milestone – and by so much – is a testament to what can be done when our community pulls together around an issue that impacts so many families in our region. Won’t you join us?


If you would like to learn more about how you and your organization can earn money on an investment to address the Greater Washington region’s housing crisis, please contact Gretchen Greiner-Lott, WRAG’s Vice President, at greiner-lott@washingtongrantmakers.org or 202-939-3433 to schedule a meeting or presentation. In addition, Enterprise and WRAG will host several webinars this fall. Please watch the WRAG calendar for dates and details.

New report closely examines racial and ethnic incarceration disparities in each state

MASS INCARCERATION/RACISM
A new report examines the rates of incarceration for whites, African Americans, and Hispanics state-by-state, finds three contributing factors to the racial and ethnic disparities in those rates, and makes some recommendations for reform. (Sentencing Project, 6/14)

Truly meaningful reforms to the criminal justice system cannot be accomplished without acknowledgement of racial and ethnic disparities in the prison system, and focused attention on reduction of disparities. Since the majority of people in prison are sentenced at the state level rather than the federal level, it is critical to understand the variation in racial and ethnic composition across states, and the policies and the day-to-day practices that contribute to this variance. Incarceration creates a host of collateral consequences that include restricted employment prospects, housing instability, family disruption, stigma, and disenfranchisement.

Related: In the most recently released video of WRAG’s Putting Racism on the Table series, James Bell, J.D., founder and executive director of the W. Haywood Burns Institute, discussed mass incarceration and how structural racism, white privilege, and implicit bias collide within the criminal justice system.

OUR REGION, YOUR INVESTMENT | Our Region, Your Investment is gaining traction with local investors, with a recent $500,000 investment from the Diane and Norman Bernstein Foundation. Says Joshua Bernstein, president of the foundation (Daily, 6/16):

The Diane and Norman Bernstein Foundation is working to address the deficit in housing affordability in the D.C. area. An investment in the Enterprise Community Impact Note aligns our investment strategy with our mission and leverages our impact.  We are grateful for the opportunity that Our Region, Your Investment has created to invest funds in ways that promote additional investment in housing solutions.

COMMUNITY/LGBT/PHILANTHROPY | Following the recent tragedy in Orlando, a number of WRAG members have organized efforts to provide support to victims and their families or share valuable resources with those serving LGBT communities. Wells Fargo has announced a donation of $300,000 toward victims and community recovery through the OneOrlando fund, set up by the City of Orlando and administered by the Central Florida Foundation. The Council on Foundations has shared a resource guide created by Funders for LGBTQ Issues featuring Orlando’s local LGBTQ social profit organizations and fundraising efforts for the victims, and the Community Foundation for the National Capital Region has also shared resources for those who want to help.

EDUCATION/DISCRIMINATION/VIRGINIA | Students at Alexandria’s public schools are bringing to light what they describe as “excessive, discriminatory and reckless approach[es] to discipline” from the school system. Today, The Kojo Nnamdi Show explores those claims and the research that supports their argument. (WaPo, 6/3 and WAMU, 6/16)

Related: On Thursday, July 7, the third installment of WRAG’s Public Education Speaker Series (supported by The Omega Foundation and the Tiger Woods Foundation) tackles the topic of racial and gender disparities in school discipline, with Professor Anne Gregory of Rutgers University. WRAG members can click here to register.

ARTS/CULTURE African American Museum prepares for ‘a mini-inauguration’ (WaPo, 6/15)

PUBLIC HEALTHGun Violence ‘A Public Health Crisis,’ American Medical Association Says (NPR, 6/14)


Going back to school is tough at any age, but imagine going back to the 10th grade at age 68! This grandfather shows us it’s never too late.

– Ciara

Diane and Norman Bernstein Foundation Invests $500,000 for Affordable Homes in Greater Washington Region

Our Region, Your Investment Gets Traction with Local Investors

Since its launch in January, Our Region, Your Investment has been presented to community members and local stakeholders as an investment opportunity to end the housing crisis in the Greater Washington region. Recent news coverage has featured our leadership in addressing the region’s housing crisis, and research has stated that a lack of affordable housing threatens our region’s economic competitiveness. Our Region, Your Investment provides an actionable step that concerned citizens and organizations can take to be part of the solution.

So far, individuals, nonprofit organizations, and foundations have made investments to provide affordable homes in the region. The most recent investment came from the Diane and Norman Bernstein Foundation, which invested $500,000 to further the impact we are already having.

The Diane and Norman Bernstein Foundation is working to address the deficit in housing affordability in the D.C. area. An investment in the Enterprise Community Impact Note aligns our investment strategy with our mission and leverages our impact.  We are grateful for the opportunity that Our Region, Your Investment has created to invest funds in ways that promote additional investment in housing solutions.

Joshua Bernstein, President, Diane and Norman Bernstein Foundation

Along with other investments, this money is hard at work supporting projects such as Fort Stevens Place in Washington, D.C. and Clarendon Court in Arlington, VA. Combined, these investments have ensured that 160 families are not forced to leave our community due to unhealthy living conditions and/or unaffordable rents.

If you are interested in making an investment that provides a blended social and financial return, contact Rachel Reilly Carroll and visit the Impact Note webpage to learn more about Our Region, Your Investment!


Disclosure: The Enterprise Community Impact Note is offered by Enterprise Community Loan Fund, Inc., a nonprofit 501(c)(3) corporation. It is guaranteed by Enterprise Community Partners, Inc., a nonprofit 501(c)(3) corporation. The Enterprise Community Impact Note is not FDIC or SIPC insured and is only available in states where authorized. This brochure is neither an offer to sell nor a solicitation of an offer to buy these securities. The offering is made only by the prospectus, which can only be delivered by eligible employees of Enterprise Community Loan Fund, and should be read before investing. WRAG is not affiliated with Enterprise Community Loan Fund, Inc. or Enterprise Community Partners, Inc. WRAG is not offering to sell nor soliciting an offer to buy these securities. WRAG is not providing advice, receiving compensation, or making any suitability determinations in respect to you.

Friday roundup – January 4 through January 8, 2016

THIS WEEK IN HOUSING
– WRAG and Enterprise Community Loan Fund made a major announcement about a new impact investing initiative to support affordable housing here in our region. Click here to read more about Our Region, Your Investment.

– For many millennial workers homeownership in the Greater Washington region is simply out of reach. (WaPo, 1/4)

THIS WEEK IN THE WRAG COMMUNITY 
– Ed Davies, Executive Director of the DC Trust, has announced that he will be stepping down from his post in order to pursue a new opportunity and continue working on behalf of children, youth, and families.

– The Eugene & Agnes E. Meyer Foundation has announced two new staff members, along with some other changes to their team. Julian A. Haynes and Amy Nakamoto will join Meyer as program officers on January 19.  Karen FitzGerald has been promoted from senior program officer to program director, and Maegan Scott has been promoted to serve as program officer for Meyer’s new Organizational Effectiveness Program and other capacity-building work.

THIS WEEK IN EDUCATION
The Rise of Urban Public Boarding Schools (Atlantic, 12/2015)

THIS WEEK IN PHILANTHROPY
The Chronicle of Philanthropy released this year’s list of 40 leaders under 40 who are working to solve entrenched problems with innovative solutions. (Chronicle, 1/5)

– A  first-of-its-kind philanthropy almanac, offering an abundance of data and facts about the field, is now available. (Chronicle, 1/6)

THIS WEEK IN THE ARTS 
– As millennial philanthropy grows, how can arts and cultural social profit organizations be sure they are attracting this next generation of donors? (Seattle Times, 12/2015)


WRAG’S COMMUNITY CALENDAR
Click the image below to access WRAG’S Community Calendar. To have your event included, please send basic information including event title, date/time, location, a brief description of the event, and a link for further details to: myers@washingtongrantmakers.org.


Calendar won’t display? Click here.


It may be too cold to visit the beach these days, but next time you go, you’ll know exactly what’s across the ocean from you in the horizon.

– Ciara

Impact Investing Campaign “Our Region, Your Investment” Launches to Address Local Housing Crisis

We are excited to announce the launch of Our Region, Your Investment  – an initiative to address the Greater Washington region’s affordable housing crisis.

Over the past years, WRAG has worked alongside its membership, local stakeholders, and regional leaders to identify and implement new ways to address the affordable housing need in our region. Now we have teamed up with Enterprise Community Loan Fund to develop Our Region, Your Investment as an opportunity for local stakeholders to be a part of the solution to the affordable housing crisis through impact investing.

More than 150,000 families in the Greater Washington region are currently in need of affordable homes, a number that is expected to double in less than 10 years. When people spend too much on housing, they are less likely to be able to cover basic needs. That instability can lead to negative health outcomes for residents, poor educational outcomes for their children, and an increased risk of homelessness.

Additional capital resources are required to create and preserve the affordable homes needed in the region over the next decade. Learn about how you can be a part of the solution at www.impactnote.com/ourregion.

Read the press release from WRAG and Enterprise Community Loan Fund, and check out the brochure to learn more about the campaign.

For more information on the affordable housing need in the Greater Washington region, read Call The Question: Will the Greater Washington Region Collaborate and Invest to Solve Its Affordable Housing Shortage?


Disclosure: The Enterprise Community Impact Note is offered by Enterprise Community Loan Fund, Inc., a nonprofit 501(c)(3) corporation. It is guaranteed by Enterprise Community Partners, Inc., a nonprofit 501(c)(3) corporation. The Enterprise Community Impact Note is not FDIC or SIPC insured and is only available in states where authorized. This brochure is neither an offer to sell nor a solicitation of an offer to buy these securities. The offering is made only by the prospectus, which can only be delivered by eligible employees of Enterprise Community Loan Fund, and should be read before investing. WRAG is not affiliated with Enterprise Community Loan Fund, Inc. or Enterprise Community Partners, Inc. WRAG is not offering to sell nor soliciting an offer to buy these securities. WRAG is not providing advice, receiving compensation, or making any suitability determinations in respect to you.

Examining the U.S. housing market paradox

HOUSING
A recent report looks into the big contradiction of the U.S. housing market today that says renters could save money by owning a home, although many cannot afford to buy one. Rental costs continue to rise nationwide, but for many families home ownership is no simple trade off. (City Lab, 1/4)

Now that the Federal Reserve is raising interest rates, the costs of home ownership are beginning to rise, if slowly. Advice to buy now may be sound, but it can’t sit that well with people in truly unaffordable housing markets. Or for people for whom a 3-percent down payment is a tricky proposition given slowly rising wages. Or for people whose student debt or shaky credit is keeping them out of the buyers’ bracket. For too many renters, home ownership still looks like an unattainable winners’ bracket.

– In San Francisco, like most other major American cities, housing is a big issue. There, the head of a renter’s federation likens the community’s not building affordable housing to the act of tearing down homes. (GGW, 1/5)

– In case you missed it, WRAG and Enterprise Community Loan Fund made a major announcement about a new impact investing initiative to support affordable housing here in our region. Click here to read more.

WORKFORCE/DISTRICT | The D.C. Council has recently introduced two bills that could further boost protections for workers in the District if passed. (WCP, 1/6)

CSR | Guidestar has released a new resource guide for corporations looking to start or grow their corporate social responsibility strategies. Click here to access the guide.

Related: Great news – there is still time to join WRAG’s Institute for Corporate Social Responsibility. CSR professionals have the opportunity to earn a Professional Certificate in Corporate Social Responsibility from Johns Hopkins in just six months. Applications must be received no later than January 8. Contact Katy Moore, moore@washingtongrantmakers.org, for more information.

PHILANTHROPY | A  new, first-of-its-kind philanthropy almanac aims to offer an abundance of data and facts about the field. (Chronicle, 1/6)

INCOME INEQUALITY
– Researchers have unveiled new data on income inequality in America that support the idea that recent reports on middle-class wage stagnation have been slightly overblown. The research still shows, however, that inequality has widened and income growth has remained slow for most Americans. (WaPo, 1/6)

Income Inequality Leads to Less Happy People (City Lab, 12/2015)


Our region has a handful of options for commuting to work, but here’s one I’ve never heard of before.

– Ciara