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Better Together
"Individually excellent but better together". If there was ever a ringing endorsement for consolidation, this is the statement regarding the bringing together of 17 high schools and four special-education Roman Catholic schools in Philadelphia. Four years ago the schools, all independently run and operated were faced with the possibility of closing as their primary sponsor, the Roman Catholic Archdiocese positioned that there just wasn't enough money. But alumni and others got together, formed an oversight support corporation, raised money and has kept these institutions going with a clear mission that a religious-based education was important in the formation of youth.
Whatever your faith beliefs, the consolidation brought about by this group of individuals gives strength to the idea that nonprofits, particularly in the same sub-sector (doing similar kinds of work) may well do better together. There can indeed be economies gained from joining together.
For the referencing article, see the Philadelphia Inquirer.
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Out of concern for the welfare of our community and staff, The Community Foundation office at 70 Audubon is closed to visitors until further notice; Foundation staff are available by phone and email during normal business hours Monday through Friday between 8:30 a.m. - 5:00 p.m. to conduct business. For up-to-date information about The Foundation’s response to COVID-19, please visit: www.cfgnh.org/covid-19. To contact a staff member, view our staff directory.
Working together to build a stronger community - now and forever.
Open Street Project
Local Initiatives Support Corporation
Where Do Workers Living on Low Incomes Stand in the Post-Pandemic Economy?
An article in Politico looks at the gains and losses—actual and potential—for lower-wage workers in the current economic climate. Katrin Kark, LISC’s director of workforce innovations, who is quoted in the piece, cautions that increased wages don’t suffice to stabilize finances or create economic mobility across the board. “Higher entry wages alone aren’t enough to close…opportunity gaps,” she says.CDFIs + Impact Investors: New Capital Markets Analysis Highlights Opportunities and Impact
LISC and Enterprise Community Partners have released a joint white paper that catalogs how CDFIs have engaged with the capital markets in recent years. In an accompanying blog, the authors explain why this data is so critical, as economic pressure affects the availability and cost of capital for high-impact community development efforts. "The goal is to help impact investors identify how and where they might put their capital to work and what expectations they should have for performance,” they write.Foot Locker Foundation Announces $4.5 Million for Community Grants through LISC
Foot Locker Foundation continues its collaboration with LISC to promote youth empowerment through mentoring, career development, and health and wellness activities—all while supporting community-based organizations with diverse leadership. A new $4.5 million commitment will support three annual grant application rounds. Proposals for the first round are due by August 30, 2023.
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