June Loan Closings: AltaSea at the Port of Los Angeles, Anthos|Home, Center for Nonprofit Management

$8 million bridge loan (April 2024) 

AltaSea at the Port of Los Angeles (AltaSea) is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation – all for a more sustainable, just, and equitable world. Part of their vision includes turning to the ocean to develop and scale up rapid solutions for some of the planet’s most pressing challenges, such as climate change, energy supply, and global food security. AltaSea attracts over 4,000 visitors annually, educates over 2,000 students, and supports more than 70 businesses through its programs and partnerships. 

"At AltaSea, our work is centered around unlocking the vast potential of the ocean to address some of the most pressing challenges facing humanity, such as climate change, food security, and sustainable economic growth. We believe that the ocean holds the key to innovative solutions through research, technology, and education. Our mission is not just about exploration and discovery, but also about creating meaningful, sustainable impacts on our local and global communities. We serve a diverse array of stakeholders, including scientists, entrepreneurs, educators, and residents of the Los Angeles area, fostering a collaborative environment where knowledge and resources are shared to promote ocean conservation and economic opportunities. By engaging with and empowering these communities, we aim to drive forward a blue economy that benefits everyone, ensuring that ocean resources are utilized responsibly and equitably."

Charmian Hauck, CFO, AltaSea 

With an $8 million bridge loan from NFF, AltaSea can continue the revitalization of Berths 58 to 61 in the Port of Los Angeles while it waits for delayed government grants. This project will transform four historic port warehouses into 225,000 square feet of laboratories, research facilities, and hands-on educational development areas. 

$1 million bridge loan (April 2024) 

Anthos|Home collaborates with government partners, nonprofits, and landlords to increase the number of housing units available, match tenants and landlords, streamline the apartment search, handle voucher paperwork, process applications and rental agreements, and assist in the move-in process. After settling into their new home, Anthos|Home provides ongoing housing stability services and matches tenants to a wide range of community services to support their success, including education, employment, and wellness. With this approach, Anthos|Home increases housing retention rates by improving the efficiency and accessibility of the New York City housing voucher system. Anthos|Home is dedicated to shortening the voucher processing timeline to two months, from the time it starts working with a housing voucher until move-in. The organization is expanding its efforts and aims to place 1,000 people annually in permanent homes by fiscal year 2027. 

"Anthos|Home is a new nonprofit working to streamline access to permanent housing for New Yorkers who are unhoused or at risk of homelessness with housing vouchers.  What sets our model apart is that Anthos|Home partners with housing providers to secure appropriate units of affordable housing and then quickly matches voucher holders to those apartments. We help both prospective tenants and landlords to navigate each step of the housing process and, after move-in, provide ongoing supports to ensure housing stability and success."

Laura Lazarus, Co-Founder and CEO, Anthos|Home

Supported by the Hilton Foundation, a $1 million zero-interest loan from NFF will provide financial capacity to cover ongoing organizational costs in the event of unexpected delays in payments from funders. With this investment, Anthos|Home will be able to focus on its essential work of connecting even more clients to housing.  

“At the heart of Anthos|Home’s model is a 'flex pool' of funding — the result of public and private partnerships — that allows us to nimbly overcome most barriers to housing access and stability for homeless New Yorkers, from small repairs and moving costs to missed voucher payments or emergency interventions. This unique financial capacity allows us to speed shelter exits for voucher holders, reduce monetary risk and inconvenience for housing providers, and achieve successful tenancies. Funding from Nonprofit Finance Fund supports Anthos|Home’s flex pool and increases our capacity to transition New Yorkers into permanent housing, while also providing greater organizational strength and stability.”   

Laura Lazarus, Co-Founder and CEO, Anthos|Home

$500,000 bridge loan (May 2024) 

With 45 years of leadership, the Center for Nonprofit Management (CNM) is dedicated to fostering a thriving social impact sector in Southern California. CNM's programs help nonprofit leaders strengthen organizational capacity, enabling them to more effectively serve their communities. CNM offers program evaluation, strategic planning, organizational development, community impact assessments, effective governance, and capacity building. In 2022, CNM served over 2,000 nonprofits and more than 5,000 nonprofit staff through initiatives, projects, trainings, and seminars.  

"CNM sparks change by partnering with Southern California's nonprofits and the foundations, public agencies, and companies that support them. For 45 years, we've leveraged research, convening, engagement, technical assistance, training, and advocacy to bolster a thriving impact sector and foster a resilient, inclusive region. We're working toward a nonprofit sector that is understood as a key pillar of a compassionate and inclusive Southern California economy.  Learn more about CNM's work and capacity-building resources on our website."

Supported by the Hilton Foundation, a $500,000 zero-interest bridge loan from NFF will help CNM cover ongoing organizational costs while waiting for delayed reimbursements from government contracts and other funders. With support from this loan, they can continue investing in programs that equip nonprofit leaders with the knowledge, skills, and resources needed to fulfill their missions. 

"We are excited about this partnership because it addresses the structural inequities in government contracting. Typically, the absence of upfront payments in government contracts forces us to rely on loans to finance our work. However, with the support of Hilton and NFF, this partnership has given us more financial flexibility, sustaining our efforts and allowing us to focus on delivering better outcomes for the community."  

Angelica Frias, Vice President of Action & Engagement, Center for Nonprofit Management 

Learn more about NFF’s loan products on the financing page of our website.