Also known as...
Program areas at Northern California Community Loan Fund
Direct lending: since 1987, Community Vision has made 518 loans totaling $219 million to nonprofits and social enterprises serving low-income communities in Northern California, leveraging over $1.8 billion in additional project funding. These loans have helped create or preserve 7,519 affordable housing units for low-income families and individuals, and financed over 2.8 million square feet of neighborhood-serving nonprofit and retail space. These loans have also helped create or preserve 20,315 permanent and construction jobs, and helped finance projects by organizations that serve over 1.4 million individuals. At the end of fy19, Community Vision managed a portfolio of 102 loans worth $66.8 million to 90 organizations. During the course of fy19, Community Vision closed 37 loans totaling $26.8 million.
Capitalization: Community Vision was founded by Community residents as a vehicle to channel Capital from socially responsible and mission motivated investors to projects that benefit low income people. We provide education on sustainable, socially responsible investing. At the end of fy2019 investments made by banks, foundations, government entities, individuals, religious organizations, nonprofit organizations and hospital systems into our revolving Loan Fund totaled $52.7 million. New markets tax credit: Community Vision has received a total of $212 million in new markets tax credit (nmtc) allocation for use in our 46 Northern and central California counties. The tax credits allow us to make investment Capital available to businesses and nonprofits in qualifying low-income communities, creating jobs and spurring additional economic development. During fy19, Community Vision provided $40 million of allocation to five projects and managed our 21-project portfolio. Our nmtc program has helped to create or preserve 5,431 jobs, created 875,326 square feet of Community facility space, helped to develop 84 units of affordable housing and leveraged an additional $339 million in private investment. Over 962,000 individuals will be served by the projects developed using these funds.
Consulting and training: since the inception of our Consulting & training program, Community Vision has provided 942 Consulting engagements in real estate and nonprofit financial management, and served 3,518 organizations through workshops on these topics. During fy19, the program completed 85 Consulting engagements, and reached 212 organizations through workshops.