Posted on October 29, 2009

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Nonprofit Finance Fund, California Foundations Launch $6 Million Initiative to Bolster L.A. Nonprofits

The Nonprofit Finance Fund has announced that it will partner with the California Community Foundation and the Bank of America Charitable Foundation on a $6 million initiative designed to provide Los Angeles-area nonprofits facing financial challenges with working capital loans and financial consulting services.

To help nonprofits in the region optimize their financial decision-making and service delivery, the Nonprofit Sustainability and Effectiveness Initiative will feature a series of workshops, consulting engagements, and in-depth business analyses presented by NFF. "Many Los Angeles nonprofits are facing a 'perfect storm' of challenges: demand for services has increased, funding has decreased, and fallout from the California budget crisis adds to financial instability," said NFF vice president David Greco. "Along with our funding partners, our goal is to support both the near-term survival, and long-term sustainability, of L.A.'s nonprofit organizations."

In addition to the funds provided by the two foundations, First 5 LA will provide support for organizations working to increase the health, well-being, and learning readiness of children through age five, while the Weingart and California Wellness foundations will provide additional technical assistance to participating nonprofits.

"Funding alone cannot address the significant challenges facing Los Angeles nonprofits," said Antonia Hernández, president and CEO of the California Community Foundation. "By investing in their financial planning and decision-making capabilities, we're positioning our grantee organizations to more efficiently and effectively serve the community."

“Nonprofit Finance Fund and California's Largest Foundations Launch $6 Million Initiative to Bolster Los Angeles Nonprofits.” Nonprofit Finance Fund Press Release 10/28/09.

Primary Subject: Community Improvement/Development
Secondary Subject(s): Economic Crisis
Location(s): California, Los Angeles

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