New Jersey Community Capital, the state’s largest community development financial institution, announced Tuesday that it has donated a total of $50,000 to the municipalities of Newark, Paterson, Camden, Trenton and New Brunswick.
Each of the five municipalities will receive $10,000 in funding for specific community organizations or initiatives focused on economic development, youth programs, public health and more. The donation is part of NJCC’s commitment to this year’s Martin Luther King Jr. Day celebration theme: “It starts with me: cultivating a beloved community mindset to transform unjust systems.”
NJCC CEO Bernel Hall said the organization feels the donations will have great impact.
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“We’re thrilled to be able to build on Dr. King’s mission and integrate it into our work throughout New Jersey and support such well-deserving community organizations and impactful programming,” he said. “These cities are doing crucial work to make New Jersey the best it can be, and partnering with them to do even more will provide better outcomes and opportunities for residents.”
Hall said NJCC’s charitable giving corresponds to its work across the state to finance the predevelopment, acquisition, construction, rehabilitation and mini-permanent needs of affordable housing units for ownership and rental opportunities. NJCC’s lending takes a holistic and equitable approach by financing projects that use the diverse pillars of a community, including small businesses, commercial office and retail spaces and early childhood education centers.
Here’s a look at how these donations will be spent:
- Camden: Mayor Victor Carstarphen commends the distribution of funding to Heart of Camden and the Latin American Development Association;
- New Brunswick: Mayor James Cahill will use the funding for community kitchen Elijah’s Promise and Town Clock Community Development Corp.;
- Newark: Mayor Ras Baraka will direct funds to the Newark Community Impact Fund managed by Community Foundation of New Jersey, a philanthropic organization;
- Paterson: Mayor Andre Sayegh will provide Friends of Paterson Parks and Paterson Healing Collective with the donations;
- Trenton: Mayor Reed Gusciora will direct funding to the city’s Department of Recreation and Youth Programs, as well as Howard’s Healthy Choices, a social service organization for students.
