Financial Freedom by Center for the Greater Good

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A white paper on Financial Freedom by the Center for Greater Good.

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Financial Freedom by Center for the Greater Good

  1. 1. CITIZENS FIRST HOUSING Financial Freedom Written by Ravi Hanumarawww.CenterforGreaterGood.com | contact@centergg.com | 410 East State Street Eagle, ID 83616
  2. 2. Financial FreedomMany low-income communities have social services provided on site. However, most of these servicesdo not reach full effectiveness as they are often underfunded and lack real outcome measurements.Furthermore, these services are sustained mainly on periodic grants, which means services aretypically the first thing to go when cash flow becomes tight.Our financial model eliminates these problems. We provide a social services budget of $800 perunit per year and ensure that a Community Coordinator is employed full time at every community.Rather than have our Community Coordinator and social services funded by grants, we structure ourcommunities so that Center for the Greater Good takes care of all required funding and ensures areliable and predictable cash flow.As a result of this funding, the Community Coordinators are able to: • Reach out and collaborate with other non-profits in the surrounding areas to bring in even more services • Partner with small businesses and entrepreneurs to provide job opportunities as well as financial education to resident • Leverage technology to incorporate resident and investor feedback • Leverage technology to track and measure outcomesHow our Financial Model WorksCenter for the Greater Good offers loans below market rate for affordable housing developers andstays in first position. A percentage of the interest paid back by the property to Center for the GreaterGood fund pays for the social services. Because the services and the Coordinator are funded by thedebt service and cash flow of the communities, the consistency and effectiveness of the integratedsocial services is ensured. Ultimately, this enables the Community Coordinator to focus on creatingimpact rather than spending time and resources applying for grants. 2

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