FOR IMMEDIATE RELEASE: Oct. 28, 2019
CONTACT: Debra Walker Johnson
The Stronger Nonprofits Initiative will connect Detroit-based nonprofit organizations led by and/or serving people of color with resources they need to strengthen their organizations’ financial health
DETROIT — IFF, in partnership with JPMorgan Chase and Fiscal Management Associates (FMA), announced today its inaugural cohort of the Stronger Nonprofits Initiative Detroit (SNI Detroit), a 14-month program to help Detroit-based nonprofits led by people of color and/or serving low-income communities of color develop their financial management capacity and build net assets.
Nonprofit leaders accepted to the program will receive training through a series of full-day workshops and one-on-one sessions on: financial management; capital access; facility management; and the role real estate analysis plays in organizations’ financial health.
“A strong nonprofit sector, with experienced leaders ready for Detroit’s challenges, requires professional development. IFF, with JPMorgan Chase’s support, will help us grow nonprofits across Detroit to serve more Detroiters and help them benefit from our city’s economic recovery,” said Arthur Jemison, Group Executive for Planning, Housing and Development for the City of Detroit.
Leaders from ten Detroit nonprofits will participate in the first of two cohorts for the program starting October 29, 2019. They include: Detroit Police Athletic League, Develop Detroit, Michigan Community Resources, Developing Kingdoms in Different Stages, FoodLab Detroit, Goodwill Industries, Mack Avenue Community Church Development Corporation, Neighborhood Service Organization, Southwest Detroit Environmental Vision Project, and The Yunion. Participants will work alongside other nonprofit leaders to improve their financial management capacity and gain the skills they need to build the net assets of their organizations.
“At JPMorgan Chase, we believe that a strong nonprofit sector is essential to advancing inclusive economic growth,” said September Hargrove, Philanthropy Program Officer, JPMorgan Chase. “Through SNI Detroit, not only are we helping to build the capacity of our nonprofit partners who are key to maximizing the impact of JPMorgan Chase’s $200 million commitment in the city’s economic recovery, but we are investing in the talent of nonprofit leaders of color, who have traditionally not had the same access to opportunities to grow their organizations.”
SNI Detroit will apply and build on learnings from the program’s launch in Chicago. Following the completion of the program, 20 nonprofits primarily serving the city’s South and West sides have implemented lessons learned from the program to improve their budgeting process, access capital, tell a better financial narrative and forge new connections to maximize their greater impact on the communities they serve. Thirteen of the Chicago SNI participants are either planning or embarking on real estate projects that the program helped them initiate.
“We’re extremely proud to be partnering with JPMorgan Chase and FMA to build nonprofits’ financial capacity in Detroit,” says Alexis Dishman, IFF’s Managing Director of Lending in Michigan and Ohio. “IFF was founded over 30 years ago on the knowledge that stronger nonprofits create stronger communities, and stronger communities create a stronger city.”
For more information about the SNI Program, visit www.iff.org/sni-chase-event.
IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive by creating opportunities for low-income populations and individuals with disabilities. Since 1988, IFF has provided $907 million in flexible, affordable financing to nonprofits serving a variety of sectors – affordable housing, health care, education, community development, and more. These investments have leveraged $2.9 billion and impacted communities by creating more than 6,000 child care slots, over 50,000 charter school seats, nearly 370,000 new patient visits, and 10,000 units of affordable housing.
Since 1999, FMA’s dedicated consultants have served major foundations and nonprofit organizations nationwide by helping them develop the capacity they need to fulfill their missions more effectively and efficiently. FMA’s Consulting & Advisory Services help maximize the effectiveness of organizational decision-making by providing the right financial advice, guidance and tools to address challenges faced by nonprofit organizations. Through a combination of training and coaching services, FMA will work with each of the participants in the Stronger Nonprofits Initiative to support leadership teams in building financial resilient organizations to ultimately ensure the capacity of these organizations to more effectively, efficiently and sustainably deliver on mission goals.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com