Community Preservation Corporation Launches New Philanthropic Program With $500,000 in Grant Funding to 10 Nonprofit Organizations

The CPC Connections grant program supports the work of New York State nonprofits in closing the racial wealth gap, promoting environmental justice, and providing COVID-19 relief

New York, NY (July 14, 2022) - The Community Preservation Corporation (CPC), a leading nonprofit multifamily housing finance company, announced today that it has awarded $500,000 in grant funding through the launch of its new philanthropic initiative. The grants were awarded through the CPC Connections initiative to 10 New York State-based nonprofit organizations to aid in their work related to closing the racial wealth gap, promoting and advancing environmental justice, and providing COVID-19 relief services and resources to the communities they serve.

“We’re proud to be able to support ten of our nonprofit partners through this first round of funding under our new Connections grant program. As a nonprofit, we understand the critical role they play in providing access to the services and resources that support and empower residents,” said Rafael E. Cestero, CEO of The Community Preservation Corporation. “We hope that these grant dollars allow our nonprofit partners to expand and enhance their work as well as the positive impact they create in their communities.”

"Green City Force is thrilled to receive funding and partnership from The Community Preservation Corporation. Their support of our holistic program focused on environmental, economic and racial justice helps us to lift the talent and voices of young adult public housing residents. Through service learning and community transformation, our program participants build the skills to transition into sustainability careers and drive a just green economy flipping the negative narrative of frontline community members,” said Tonya Gayle, Executive Director, Green City Force.

“We are grateful for the grant awarded to us by The Community Preservation Corporation.  The funds provided will allow us to expand our food access programming in our senior community, by providing fresh produce and meal options.  We are excited to be able to offer these greatly needed services,” said Chandra Redfern, MS, Chief Executive Officer, Buffalo Federation of Neighborhood Centers.

Awardees of the inaugural round of grant funding through CPC Connections include:

  • Green City Force (New York City)
  • Community League of the Heights/CLOTH (New York City)
  • Youth Construct Program (New York City)
  • Buffalo Federation of Neighborhood Centers (Buffalo)
  • Community Loan Fund of the Capital Region (Albany)
  • Nepperhan Community Center, Inc. (Yonkers)
  • Hester Street Collaborative (New York City)
  • House of Mercy (Rochester)
  • Nassau Community College (Garden City)
  • Rockland Housing Action Coalition Inc. (New City)

 

The CPC Connections grant program is an employee-led effort to identify community-based nonprofits doing important work in the company’s home state of New York. Eligibility for grant funding through CPC Connections was based on a competitive nomination and application scoring process. Through outreach to the nominees during the application process, CPC was able to identify the areas of greatest need where grant funding could be most effective in helping to support the work and nonprofit mission of the nominees. Funding priorities included, but are not limited to: job training and educational programs, upgrading technology and data management tools, increasing program management capacity, funding new hires, and instituting capacity building programs.

The grant program is the newest addition to the CPC Connections initiative, created by the company to expand its impact in communities throughout New York State by providing resources and knowledge sharing opportunities that complement its nonprofit work in affordable and workforce housing finance.

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About The Community Preservation Corporation (CPC)

CPC is a nonprofit multifamily finance company that was founded in 1974 to provide financial resources to stabilize and revitalize underserved communities. Today, CPC uses its unique expertise in housing finance and public policy to expand access to affordable housing and drive down the costs of housing production, advance diversity and equity within the development industry, and impact the effects of climate change in our communities through the financing of sustainable housing. Since its founding, CPC has invested over $13 billion to finance the creation and preservation of more than 220,000 units of housing through its lending and investing platforms. CPC is a carbon-neutral company and has been rated AA- by S&P. Visit CPC at communityp.com, and on Facebook, Twitter and LinkedIn.