This $500,000 investment in core operating support will enable Pacific Community Ventures to strengthen communities by investing in more small businesses and create good jobs for more working people.
The Citi Foundation announced that Pacific Community Ventures was selected as the recipient of a $500,000 grant as part of the 2018 Community Progress Makers Fund. The Fund is a $20 million, two-year initiative by the Citi Foundation to support high-impact community organizations that are driving economic opportunities in our communities by bringing together residents, nonprofits, businesses, and municipal agencies. Pacific Community Ventures joins a group of 40 change agents who are playing a key role in coordinating the efforts of multiple partners toward common goals and working in new ways to address urban challenges in Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area, and Washington D.C.
The majority of San Francisco’s small businesses are started and owned by women and people of color – and they’re far more likely to be turned down for loans or struggle to find mentors. Through the fund, Pacific Community Ventures will strengthen our Bay Area communities by investing in more small businesses and create good jobs for more working people.
“We launched this program in 2015 as our version of ‘venture philanthropy’ – a chance to invest in the vision and mission of these organizations who are helping positively transform their communities,” said Brandee McHale, President of the Citi Foundation. “We’re pleased with the results from our inaugural Community Progress Makers and are looking forward to implementing the lessons we’ve learned with this next, impressive group of community leaders as they scale, innovate and drive impact.”
“The decline of jobs that afford working people and their families dignity, financial security, and economic mobility is one of the biggest societal challenges of our time,” said Mary Jo Cook, President and CEO of Pacific Community Ventures. “We believe that, by working directly with small businesses and empowering impact investors to prioritize quality job creation, we can begin to reverse our country’s rising income and wealth inequality and create jobs that are good for workers, good for businesses, and good for communities across America.”
In 2016-2017, the inaugural cohort of Community Progress Makers helped more than 14,700 people in underinvested communities secure financial assets; built over 10,500 affordable housing units; strengthened more than 1,100 small businesses; and connected 1,800 young people to jobs in their communities.
Below is a full list of 2018 Community Progress Makers:
Chicago
- Cara
- Chicago Commons
- Elevate Energy
- Greater Southwest Development Corporation
- North Lawndale Employment Network
Los Angeles
- East LA Community Corporation
- Homeboy Industries
- Koreatown Youth & Community Center
- LISC Los Angeles
- Los Angeles County Economic Development Corporation
- Los Angeles LGBT Center
- United Way of Greater Los Angeles
Miami
- Catalyst Miami
- Hispanic Unity of Florida (HUF)
- The Miami Foundation
- United Way of Miami-Dade
- Urban League of Broward County
New York City
- Brooklyn Workforce Innovations
- Center for NYC Neighborhoods
- Cypress Hills Local Development Corporation
- Green City Force
- Hot Bread Kitchen
- LISC NYC
- Low Income Investment Fund (LIIF)
- Neighborhood Trust Financial Partners
- Start Small Think Big
- The HOPE Program
- The POINT Community Development Corporation
- WHEDco
San Francisco Bay Area
- Enterprise Community Partners Northern CA
- Jewish Vocational Service
- Main Street Launch
- Pacific Community Ventures
- San Francisco Housing Development Corporation (SFHDC)
- Social Finance
Washington, D.C.
- Building Bridges Across the River
- Byte Back
- Groundswell
- Latino Economic Development Center-LEDC
- Mary’s Center
About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation’s “More than Philanthropy” approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.