Funds will go towards programming that will benefit Camden residents.
Camden, 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 community organizations in the city of Camden. The funding will be distributed to Heart of Camden and the Latin American Economic Development Association, two organizations supporting social and economic development. 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.”
“I commend New Jersey Community Capital for their commitment and support of community-based organization who are vigorously advancing Dr. King’s lifework of equality and empowerment,” said Camden Mayor Victor Carstarphen. “The City is blessed to have outstanding partners who are committed to improving our community while creating new opportunities for residents. LAEDA and Heart of Camden are prime examples of this extraordinary cooperative effort. They remain strong partners in Camden’s growth, leading the way for access to quality housing, small business support, entrepreneur training, and vital community resources.”
Heart of Camden will receive $5,000 to fund programs for housing restoration, economic expansion, and community development. The Latin American Economic Development Association will allocate funds to help emerging entrepreneurs and small business owners start and grow their businesses.
“Thank you to NJCC for this most generous and timely contribution,” said Ray Lamboy, President and CEO of LAEDA. “This investment will go a long way in advancing our mission of creating ladders of opportunity through entrepreneurship. Martin Luther King, Jr. spoke at length about the economic inequalities and injustice that impede our progress to the promised land, and creating generational wealth through our work is critical to realizing his dream.”
“Martin Luther King once said that one of life’s most enduring questions is asking ourselves what we are doing for others. New Jersey Community Capital seeks to answer that question by supporting and growing the work of nonprofits such as our own,” said Donna Helmes, a consultant at Heart of Camden. “At Heart of Camden, we build the places to call home. The spaces that strengthen communities, support families, and change lives. As we celebrate MLK Day, we appreciate the generous donation by New Jersey Community Capital that will enable the Heart of Camden to better help the children and families of Waterfront South, Camden. Home–it’s where our heart is.”
“We’re thrilled to be able to support such well-deserving community organizations and further our impact throughout New Jersey,” said Bernel Hall, President and CEO of New Jersey Community Capital. “These organizations are focused on improving the Camden community and supporting the city’s continued development is crucial to creating more equitable and thriving opportunities for 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.