Nff new york client stories

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Nff new york client stories

  1. 1. Women's Housing and Economic Development Corporation (WHEDCo) began its relationship with NFF in 2002 when it received a grant from the NFF Nonprofit Recovery Fund. WHEDCo is building a more prosperous Bronx by offering interconnected, innovative solutions for families, including the building of energy-smart affordable homes, small business incubation, and youth development and family counseling programs. WHEDCo, like many nonprofits, frequently maintains high levels of receivables from government contracts. NFF provided WHEDCo with a line of credit to improve its cash flow while it awaits government reimbursements. WHEDCo also received two NBAs from NFF, which helped WHEDCo's leadership shape strategies that advance its mission. Photo courtesy of WHEDCo
  2. 2. The South Bronx Charter School for International Cultures and the Arts (SBCSICA) is the first charter public school to open in the South Bronx with a focus on dual language immersion. With the help of NFF, SPSG School Real Estate Group, and Bank of America, SBCSICA secured $2.5 million in financing needed to acquire a new facility. NFF is currently evaluating additional financing to fund part of the school's $11.4 million renovation project, including additional classroom space and activity, art and music rooms. Photo courtesy of SBCSICA
  3. 3. Manhattan Youth Resources and Recreation (MYRR)provides childcare and academic and cultural activities to Lower Manhattan residents. MYRR was among the first NFF clients to receive the early version of the NBA, which gave detailed insight into the questions its management wanted to answer before proceeding with plans to open lower Manhattan's first community center. In 2007, NFF provided a line of credit that gave MYRR the flexibility it needed to finish the project, which had its grand opening in spring of 2008.

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