February 2010 Grants

On February 4, 2010, the Northwest Area Foundation’s board of directors approved six grants designed to encourage substantial investments from other funders also intent on reducing poverty long term.  This strategic focus on building assets and wealth is one of three the Foundation believes are critical to reducing poverty and building sustainable prosperity.  The others are building capacity and leadership, and improving public policy solutions. 

Totaling $665,000, these grants will support grantees’ efforts within the Foundation’s eight-state service region: 

City of St. Paul: Employment Opportunities in Energy Construction and Deconstruction, $75,000  
The City of St. Paul is partnering with Neighborhood Energy Connection, Better Futures Enterprises and Twin Cities Local Initiatives Support Corporation (TCLISC) in a nine-month pilot program to train low-income, disadvantaged, bilingual and bicultural workers as energy auditors, insulation installers and deconstruction workers.  This initiative could trigger up to $2.5 million in American Recovery and Reinvestment Act (ARRA) federal stimulus money and housing block grants to expand access to jobs in the green energy industry.   This effort will target bilingual and bicultural people with low incomes who are unemployed or underemployed and build their skills for jobs in energy conservation and deconstruction –recycling building materials rather than demolishing them.  

Iowa Credit Union Foundation Inc. (ICUF): Credit Union Family Partnership Individual Development Account Program, $165,000
Based in Des Moines, The Iowa Credit Union Foundation Inc. (ICUF) is the philanthropic branch of the Iowa Credit Union League, which seeks to build financial security and reduce poverty.  ICUF’s Credit Union Family Partnership Individual Development Account Program is a statewide initiative of ICUF to encourage personal savings, through Individual Development Accounts (IDAs).  The goal for this 18-month grant is to spur additional investment of state and federal funds that will expand by 45 the number of credit unions providing financial education training and matching dollars for the IDAs.   Aimed at families earning less than $40,000 per year for a family of four or those that qualify for Temporary Assistance for Needy Families, IDAs can be used to buy a home, start a business or pay for education.    A portion of the grant will be designated for credit unions outreach to Latino communities.

 Rural Dynamics, Inc:  Assets for Montana, $150,000
Rural Dynamics Inc. (RDI), based in Great Falls, Mont., provides programs and develops partnerships that foster economic independence.  This grant is designed to expand the work of RDI in Montana through many different strategies to building prosperity:

  • Develop a network of nonprofit organizations that promote policy and legislation that will increase knowledge and awareness of asset-building strategies.
  •  Increase the use of the Earned Income Tax Credit, which returns millions of dollars every year to low income families and communities thereby helping them build personal wealth and assets. 
  • Expand access to tools to identify benefits for families working their way out of poverty and on to prosperity.
  • Offer online financial education courses for Native Americans and people living in rural Montana
  • Promote family savings, through Individual Development Accounts (IDAs).  This grant will release additional state and federal matching funds to augment the savings accounts of families with low incomes.  IDA savings can be used for buying a home, paying for education or starting a business. 

Local Initiatives Support Corporation: National Rural Program - Rural LISC, $100,000
The Local Initiatives Support Corporation (LISC), based in Washington, D.C., provides information and financial assistance to community development corporations (CDCs), which invest in low-income communities by developing residential and commercial property and supporting business development.

This grant provides CDCs working in rural Iowa, Minnesota, Montana, Oregon and South Dakota access to Rural LISC’s network of best practices, operating support, financial expertise, federal loans and grants and jobs creation and retention programs.    The award will strengthen rural CDC’s ability to better address workforce development, financial services for the rural poor and the creation of healthy/green housing and economic development while leveraging additional state and federal dollars.

Latino Economic Development Center:  Building Latino Financial Capacity, $100,000 
Based in Minneapolis, the Latino Economic Development Center is a community economic development organization that works with Latinos and immigrants in Minneapolis/St. Paul and in rural Minnesota.

Grant funding will strengthen bilingual training and business support services and increase access to capital for low income Latinos and immigrants in Minnesota.  The award will support additional capital for start-up businesses throughout Minnesota, financial education classes and will attract outside investments to potentially expand the Latino Small Business Loan Fund. 

Partners for Prosperity New Beginnings for Eastern Idaho Inc., fiscal sponsor of Latino Economic and Development (LEAD), Center $75,000
Based in Blackfoot, Idaho, LEAD works with a growing Latino and immigrant community in rural Idaho.   LEAD was created with the help of its fiscal sponsor, Partners for Prosperity New Beginnings for Eastern Idaho Inc., in response to challenges the Latino community had in accessing services from mainstream financial institutions. 

This 15-month program will strengthen LEAD’s ability to provide financial education to low income Latino and immigrant families, provide training and assistance to start-up businesses, improve access to credit, expand partnerships that will increase microloans to Latino small businesses and develop networking opportunities.