Funds will go towards programming that will benefit Newark residents.
Newark, NJ (January 17, 2023) – New Jersey Community Capital (NJCC), the state of New Jersey’s largest community development financial institution (CDFI), today announced they donated $10,000 to the city of Newark. The funds will be distributed to the Community Foundation of New Jersey, a statewide philanthropic organization, who manages the Newark Community Impact Fund. 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 are grateful to NJCC for this donation and for their support of Newark today,” said Newark Mayor Ras J. Baraka. “Their contribution supports educational opportunities, cultural enrichment, and basic needs for our residents. This donation, coming as we honor Reverend Dr. Martin Luther King, Jr.’s life and work, helps answer his greatest challenge: ‘Life’s most persistent and urgent question is, what are you doing for others?’ Every day, our administration works to answer this question and so does the Newark Community Impact Fund.”
Mayor Baraka selected the Community Foundation of New Jersey due to its commitment to bettering the city socially and economically. The Community Foundation will receive $10,000 to connect donors’ philanthropic interests to critical imperatives in Newark, including creative projects that tackle critical societal or policy issues to scholarship funds, corporate philanthropy and more.
“We’re thrilled to be able to support such a well-deserving community organization and further our impact in New Jersey,” said Bernel Hall, President and CEO of New Jersey Community Capital. “Improving Newark communities and supporting the Community Foundation of New Jersey is crucial to creating more equitable and thriving opportunities for New Jersey residents.”
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.
About New Jersey Community Capital
New Jersey Community Capital (NJCC) is a nonprofit community development financial institution (CDFI) that provides an innovative toolkit of financial products, programs and services to advance equity and opportunity in underserved communities. NJCC supports the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education and strengthen neighborhoods to ensure that communities can thrive. To learn more, visit www.newjerseycommunitycapital.org and Twitter: @NJCommCapital.
NJCC is part of the NeighborWorks network, an affiliation of more than 240 nonprofit organizations located in every state, the District of Columbia and Puerto Rico. The NeighborWorks network was founded and is supported by NeighborWorks America, which creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities.