NEWARK, N.J., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Nonprofit Finance Fund (NFF) is pleased to announce a $5 million investment from the Robert Wood Johnson Foundation (RWJF). The investment will support lending to New Jersey community development corporations, community land trusts, faith-based and other nonprofits pursuing property ownership for long-term community well-being. NFF will also receive a $500,000 grant to fund the implementation of this work."To serve their communities, nonprofits need to ensure they won't be displaced by rising rents —and property ownership helps provide that security," said Jennifer Kawar, Vice President of NFF. "We are grateful to RWJF for this critical investment which will help New Jersey nonprofits to acquire facilities that will ensure they can reliably deliver services, provide residents with jobs, and build community power."New Jersey has one of the starkest racial wealth gaps in the country, in large part due to its history of racist government redlining policies that excluded communities of color from home ownership. And in New Jersey’s most populous city, Newark, institutional investors are purchasing residential properties wholesale and driving up property values and rent prices, pushing residents and community organizations out of the places they call home.“Property ownership is a pillar of our strategy to support working families striving to build fulfilling lives in this community,” said Keely Freeman, Executive Director of Sierra House, a New Jersey nonprofit that has purchased real estate with NFF financing and is continuing with its strategy to support the development of affordable housing

New York, NY, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Nonprofit Finance Fund (NFF) has been awarded a $12 million grant through the United States Department of Education's Credit Enhancement for Charter School Facilities Program to expand lending to community-centered charter schools."For decades, public charter schools have been a fundamental part of the United States education system – especially for young people of color,” says NFF CEO Aisha Benson. “This credit enhancement empowers NFF to offer flexible, affordable financing to the public charter schools that help our youth thrive.”The Credit Enhancement program helps charter schools acquire, construct, and renovate new or existing facilities by creating easier access to the capital they need to succeed. Through this grant, NFF will support start-up and single-site schools led by and serving people of color, which aligns with NFF’s strategic goal of deploying 50%+ or more of their lending capital to BIPOC-led, community-centered organizations.This grant from the Credit Enhancement program will support NFF's loans for predevelopment costs, leasehold improvements, construction, renovation, and bond guarantees. This is the second time that NFF has been awarded funding to support charter schools through the Credit Enhancement program since 2018.NFF's expertise in charter schools’ unique business models and financial drivers allows NFF to provide truly customized support and flexible terms for each of our clients. We currently offer facility loans, working capital loans, equipment loans, and New Markets Tax Credits financing to charter schools in Alabama, California, Colorado, Florida, New Jersey, New York, Pennsylvania, Rhode Island, Tennessee, and Texas.To learn more about NFF's work with charter schools, visit the Charter School Lending section of our website, view our list of current charter school lending clients, or read this profile of Ascend.About Nonprofit Finance FundNonprofit Finance Fund® (NFF®) is a nonprofit lender, consultant, and advocate

Nonprofit Finance Fund's board of directors has appointed Trella Walker, J.D. as the organization's Interim CEO and President.