Reinvestment Fund has been awarded the prestigious 2020 Knowledge Challenge grant by the Ewing Marion Kauffman Foundation. The award is one of 13 announced last week and will support work in partnership with the Neighborhood Development Center (NDC) of Saint Paul, Minnesota and researchers from the University of Pennsylvania.
“We are grateful to the Kauffman Foundation for this award and are honored to be in the company of our fellow awardees who represent some of the best entrepreneurship researchers in the nation,” said Don Hinkle-Brown, President and CEO of Reinvestment Fund. “Together with our partners NDC and the University of Pennsylvania, we look forward to better understanding the connections between thriving local entrepreneurship and social well-being.”Read More
Reinvestment Fund today announced the inaugural Nowak Fellow, Marci Monaco-Vavrik, a recent Temple University graduate. The Nowak Fellowship is one of three new initiatives Reinvestment Fund launched in memory of its founding Executive Director, Jeremy Nowak. The Nowak Fellowship, housed at Reinvestment Fund, was established to support a pre-graduate school fellow considering a future career aligned with community economic development.
“Jeremy had a deep appreciation for combining the richness and rigor of academia with an orientation of tangible accomplishment,” shared Don Hinkle-Brown, President and CEO of Reinvestment Fund. “With this fellowship in his memory, we are delighted to be able to give a student the opportunity to gain some real-life experience in their chosen field as part of their professional growth.”
The fulltime Fellow will work within Reinvestment Fund’s Policy Solutions team and work closely with staff to explore the many areas where policymakers, practitioners and investors intersect and inform one another. During this time, the Fellow gains a set of skills, insights, experiences and accomplishments that will provide greater clarity and certainty on how she will take her next step in professional life.Read More
We at Reinvestment Fund mourn the death of the indomitable Justice of the Supreme Court, Ruth Bader Ginsburg, who made it her life’s work to dismantle and eradicate the practice of systematic discrimination against women, Black and brown people, and LGBTQ people. Never serving on a majority liberal bench, she is best known for her fierce dissenting opinions, as well as her persistence, tireless work, principles of equality and dedication to the Constitution. Her passing threatens many of the hard-fought civil liberties, and for which we all must persevere to fully secure. The ‘Notorious RBG’ stood her ground. Like her, we must not weaken in our resolve to achieve racial, gender and economic justice for all Americans.Read More
In recent years, community development financial institutions (CDFIs) and similar mission-oriented financial services organizations have begun to elevate the importance of explicitly addressing racial equity in lending, investing, and operational practices. While this goal remains urgent, it is also a challenge to determine precisely how to incorporate or operationalize racial equity into our varied work. How do CDFIs incorporate an explicit racial equity perspective into their lending? What work do we need to do as institutions and individuals to genuinely build that racial equity perspective? And how might we collaborate across our industry to successfully achieve that goal?Read More
Reinvestment Fund is inviting applications for financial and technical assistance through the 2020 round of the Healthy Food Financing Initiative (HFFI) Targeted Small Grants Program. Funding for the HFFI Targeted Small Grants Program is provided by the United States Department of Agriculture (USDA), authorized by the Farm Bill. Reinvestment Fund serves as the national fund manager for the HFFI program at USDA. The 2020 HFFI round significantly increases the available funding compared to the previous round, offering $3 million in grant funds for food retail and food enterprises working to improve access to healthy foods in underserved areas, to create and preserve quality jobs, and to revitalize low-income communities.
“A resilient food system is essential to ensure that all Americans, regardless of where they live or how much they make, can get the food they need to keep their families healthy,” said Don Hinkle-Brown, President and CEO of Reinvestment Fund. “The COVID-19 pandemic has underscored the need to sustain a robust food system that serves all communities. We hope that these HFFI investments can seed improved access to healthy food in underserved communities and also fundamentally strengthen local food economies.”Read More
Reinvestment Fund is inviting applications for the 2020 round of the Healthy Food Financing Initiative (HFFI) Targeted Small Grants program. The 2020 HFFI round significantly increases the available funding compared to the previous round, making $3 million in grant funds available for food retail and food enterprises working to improve access to healthy food in underserved areas, to create and preserve quality jobs, and to revitalize low-income communities. Funding for HFFI is provided by the United States Department of Agriculture (USDA), authorized by the Farm Bill. Financial assistance is available in the form of direct grants to projects selected through a competitive application process. The program is open to food retail and food enterprises working to improve healthy food access. Read More.Read More
Reinvestment Fund has begun awarding grants to childcare providers, early intervention and home visiting service organizations under the Philadelphia Emergency Fund for Stabilization of Early Education (PEFSEE) program. PEFSEE is a collaboration of the William Penn Foundation, Vanguard’s Strong Start for Kids Program™ and Reinvestment Fund to support Philadelphia childcare providers who are struggling to sustain their businesses and early learning support for families through closures caused by the COVID-19 pandemic. In the month since it opened, PEFSEE has received an overwhelming response with 524 applications to date. PEFSEE has thus far awarded $3.7 million to 271 providers. Of the awardees, 87% are women-owned organizations and 71% are owned or led by people of color. The awards are expected to preserve 2,901 jobs in the sector and maintain spaces for 21,482 children in licensed early learning programs. Reinvestment Fund will announce awards on a rolling basis.Read More
The communities we serve are feeling the deep financial and social impacts of COVID-19. At Reinvestment Fund, we have been reaching out personally to our borrowers and partners and learning about the specific challenges they face. We’ve also heard from our community of investors that they want to help in a meaningful way.Read More
Given the significant measures in the U.S. at this time to lessen the spread and impact of COVID-19, Reinvestment Fund has activated its remote work policy for all employees.
During this time, all services are available and employees are accessible through their direct lines or via email during business hours of 9 am to 5 pm EST.
The health and wellbeing of our staff, partners and the communities we serve are our priority and we continue to monitor the situation. Throughout, we continue to partner with stakeholders across the country who are working hard to bring their projects to successful fruition.Read More
Early in 2020, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) published their proposal for comprehensive amendments to the rules implementing the Community Reinvestment Act (CRA). The following statement is Reinvestment Fund’s response to the proposed changes and was submitted to the OCC as part of our comments.Read More