Community LIFT has developed the CDC Capacity Fund to help address Memphis’ broken cycle of community reinvestment.
Donor Name: Community LIFT
State: Tennessee
City: Memphis
Type of Grant: Grant
Deadline: 02/17/2023
Details:
The CDC Capacity Building Fund was established after a comprehensive research process, and with support from a 13-person advisory committee comprised of LIFT’s community partners and local foundations, philanthropy, financial institutions, and of course, CDCs. The research process revealed that the local CDC sector is severely underfunded and operating with limited capacity, but with increased investment, can have a larger impact on the communities they serve. To help address Memphis’ broken cycle of community reinvestment activities, we developed the CDC Capacity Building Fund, the city’s only dedicated source of funding solely for CDCs.
The vision of the fund is to ensure a robust, effective network of CDCs that are capable of serving as quarterback agencies for scaled revitalization efforts that significantly enhance the quality of life in Memphis’ distressed neighborhoods, thus serving as catalysts for equitable economic growth and advancement.
For the purpose of this fund, the term capacity building refers to the development of core skills, management practices, strategies, and systems to enhance an organization’s effectiveness, sustainability, and ability to fulfill its mission.
Eligibility Criteria
- The CDC Capacity Building Fund is exclusively for CDCs; other community based organizations are ineligible to apply.
- For this fund, CDCs are defined as a 501C3, community-based organization focused on the community engagement, physical and economic revitalization of the areas in which they are located, typically low-income, underserved neighborhoods that have experienced significant disinvestment.
- A CDC’s ultimate goal may be comprehensive community redevelopment: CDCs generally focus on one or more program areas, such as housing development, economic development (job training, commercial development, small business assistance, etc.), neighborhood planning, infrastructure, and the development of community facilities.
- Applicants must show evidence of operating as a CDC for at least a year and have an operational budget for that year.
- Applicants must have completed the BLDG Memphis’s Capacity Assessment Tool (CAT) by January 16, 2023.
- New applicants and current/past grantees are encouraged to attend one of the Information Sessions.
For more information, visit Community LIFT.
