New Loan Closings: ArtistiCO, El Comité de Longmont, Impact Public Schools, Living Redemption CDC, Paving the Way Foundation, The Word

$68,000 working capital loan (January 2023)

The mission of ArtistiCO is to uplift, promote, and educate people about Latinx culture through art and dance. This queer, Latinx-led organization serves primarily Latinx youth and offers an inclusive platform for artists of all backgrounds to showcase their passion and talent to audiences across the world at educational institutions, stages, and community events. The organization has served over 100 people annually in their first two years alone.

Offered through the Metro Denver Nonprofit Loan Fund, which supports the recovery and development of the Metro Denver nonprofit ecosystem, NFF’s zero-interest loan will help the organization pay off two existing high-interest loans on their dance floor and the company car that transports students and costumes to performances. Once they don't need to use their funding for high-interest payments, they will have the money they need to hire a grant writer and increase employee wages. We hope that this funding will allow ArtistiCO to focus on sustaining their growth so that they can make even greater investments in youth artistic expression. Check out some great photos and videos from the ArtistiCO studio on their Instagram page!

$90,000 acquisition loan (December 2022)

A fatal police shooting of two Longmont Latino youth on August 14, 1980 mobilized the Colorado neighborhood’s Latino community to demand that police and elected officials be held accountable for their actions. Out of this neighborhood action, El Comité de Longmont (El Comité) was founded in November 1980 to promote understanding around social justice, education, and socioeconomic status for Longmont's Latino and non-Latino communities. The nonprofit serves approximately 2,000 people each year through its low- and no-cost programs, which include citizenship assistance, case management services, English classes, and pro-bono legal consultation.

El Comité’s current office space is a former 911 call center that has not been updated since El Comité moved into the building. While the organization has found creative ways to operate, it needs a new space. There are no private meeting rooms, no adequate storage space, and no classrooms – all of which are essential for El Comité to run successfully. Offered through the Metro Denver Nonprofit Loan Fund, which supports the recovery and development of the Metro Denver nonprofit ecosystem, NFF’s zero-interest loan will go toward the down payment for a new community center and office for El Comité. We hope this loan will allow El Comité to make the investments it needs to continue growing – and expand their programs to even more BIPOC communities in Longmont and beyond.

$1.6 million participation in a $16,390,000 renovation loan (December 2022)

Impact Public Schools (IPS) is a network of three charter schools serving the racially, ethnically, linguistically, and socioeconomically diverse regions close to Seattle and Tacoma, Washington. The mission of IPS is to prepare its K-5 students for academic success and positive impact in their communities as the next generation of equity-driven, innovative leaders. IPS serves approximately 1,300 students annually across its three sites and prioritizes college readiness, project-based learning, and small group instruction in the classroom. Since its inception in 2016, IPS has grown to be the largest charter network in the State of Washington.

This loan will support significant renovations to IPS’ fourth campus, the newest addition to its network. The school will be in the City of Renton, where 55% of the population identifies as BIPOC and the poverty rate exceeds the state and national averages. The project will result in 24 new classrooms, an administrative space, commons, a kitchen, a parking lot, and a playground. When the new school opens in the fall of 2023, this expansion will grow the school’s total capacity by nearly 600 students – allowing IPS to offer high-quality education to more students across Washington.

Partners: Civic Builders, Charter School Growth Fund, Washington Charter School Development

$500,000 bridge loan (December 2022)

Living Redemption Community Development Corporation (LRCDC) was founded in 2019 in New York by Rev. Maurice Winley to save lives and heal communities, one relationship at a time. Specifically, LRCDC runs gun violence and violence intervention services in Central and West Harlem, neighborhoods that have seen increasing rates of gun violence since the beginning of the COVID-19 pandemic. With family programming and a one-on-one mentorship program for young men of color, the organization both interrupts acts of violence and prepares Harlem residents for long-term success.

LRCDC has recently been awarded a contract with New York State through the Office of Victim Services’ “Victims of Crime Act.” But like many government contracts with nonprofits, this funding will only be given to LRCDC after it carries out its programs. NFF’s loan will help ease the cash flow pressure that delayed government payments create, allowing LRCDC to expand its anti-violence work in Harlem. With support from this loan, LCRDC can focus on its critical work: connecting Harlem youth and their families to resources that promote community safety, belonging, and well-being.

$500,000 working capital loan (January 2023)

A longtime consulting client of NFF, Paving the Way Foundation (PTW) helps people from all walks of life be as healthy and active as possible by providing social services that teach practical life skills for independence. Since 2006, PTW has met the immediate needs of people across Southern California’s Antelope Valley – particularly those impacted by houselessness, substance use, and the justice system. PTW serves approximately 600 individuals annually through job readiness training, parenting classes, a free community clothing closet, and a community re-entry program for formerly incarcerated people – 90% of whom qualify as low-income. With PTW’s most recent expansion, it launched new programs funded through America’s Job Centers.

Like many nonprofits, PTW depends on government contracts for a significant portion of its funding. And like many nonprofits, PTW experiences frequent delays on those payments. Supported by the Hilton Foundation, this zero-interest loan will help ease cash flow pressures related to delayed government reimbursement and make sure that PTW has consistent access to working capital while it waits for government funding to arrive. With this issue resolved, PTW will be able to continue investing in critical programs for Antelope Valley residents – and eventually expand into a new facility to house these programs.

$90,000 working capital loan (December 2022)

The mission of The Word is to promote creative voices from underserved communities and diverse backgrounds, honor stories from traditionally marginalized communities, and provide a space for these groups to see themselves in literature. By forming partnerships with the publishing industry and community groups, the nonprofit spotlights BIPOC authors and advocates for inclusive literary participation. Through its editor-writer mentorship program, writing workshops, professional development program, and biannual conference, The Word serves 3,000 emerging BIPOC authors each year. In 2021 alone, it provided 2,700 participants with 56,000 program hours — a 500% increase in the span of just four years.

As The Word continues to receive an unprecedented number of requests to facilitate their programs, the organization needs additional funding to match its exponential growth. Like many nonprofits, The Word faces cash flow challenges caused by late payments from their foundation and corporate partners. NFF’s loan will help alleviate this cash flow challenge so that the organization can focus on its programs. Offered through the Metro Denver Nonprofit Loan Fund, which supports the recovery and development of the Metro Denver nonprofit ecosystem, NFF’s loan will provide The Word with the working capital needed to meet the rising demand for its services. With this investment, The Word can expand its programs to include even more community voices as agents of social and literary change.

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