The National Community Reinvestment Coalition (NCRC) on Friday opened applications for the final round of its Field Empowerment Fund (FEF), a $5 million grantmaking program funded by Morgan Stanley to drive racial equity work.
The second and final year of the FEF will deliver grants ranging in amount from $50,000 to $300,000 for an 18 month period with the goal of scaling up innovative investments that promote wealth in traditionally underserved communities. The program previously delivered more than $2 million in grants to 33 NCRC member organizations serving low- to moderate-income (LMI) communities in 2021.
“Our members fight every day to build the Just Economy in their own neighborhoods,” said NCRC President and CEO Jesse Van Tol. “They are frontline workers in the battle against inequality. They understand where dollars can make the biggest difference in boosting opportunity and autonomy for marginalized communities. NCRC has always believed that our ground-level membership organizations know the best ways to foster positive change. FEF grants allow us to provide those members with the direct resources they need to do that urgent work.”
Awardees from the 2021 round of FEF grantmaking included the Black Cultural Zone CDC in Oakland, CA; the Federation of Appalachian Housing Enterprises in Berea, KY; and the Pima County Community Land Trust in Tucson, AZ.
Awardees must be current NCRC members and be able to prove that they are either a 501(c)(3) organization or a U.S. Treasury CDFI Fund certified CDFI. Applicants must submit proposals within the following categories:
- Affordable Housing
- Small Business
- Housing Counseling
Funds may be granted to organizations that:
- Serve primarily LMI individuals, families or communities
- Seek funds to support a specific program that primarily benefits LMI individuals, families or communities or small business development
- Propose projects directly addressing racial equity within the Black and/or Latino communities
“Addressing racial equity through housing and entrepreneurship are key objectives towards creating a just economy. Applicants will have the opportunity to submit proposals with scalable impact and policy setting implications,” NCRC Director of Community Impact Ibijoke Akinbowale said.
All applications are to be submitted online no later than 11:59 pm ET on July 29, 2022.
For more information and to submit an application, visit: www.ncrc.org/fef/. Requests for technical assistance can be sent to impact@ncrc.org.
