Latino Economic Development Center Receives a Grant
The Foundation was Selected by Citi Foundation’s Community Progress Makers Fund Grant Program to Accelerate Economic Opportunity.
DC – MAY 18, 2016 – Latino Economic Development Center (LEDC) announced today that it has been selected as a recipient of the Community Progress Makers Fund, a $20 million grant initiative to support 40 visionary nonprofit organizations in their efforts to establish new approaches to long-standing urban economic challenges in the United States – including economic development, environment sustainability, urban infrastructure, and affordable housing.
As part of the program, LEDC will receive a core operating support grant of $500,000 over the course of two years to continue its work in the community around economic and social advancement of low- to moderate- income Latinos and other underserved communities in the Greater DC and Baltimore region.
This new injection of funds will help bolster existing initiatives while opening up the door to additional programs such as strengthening our Small Business advocacy capacity to ensure that low and moderate income entrepreneurs have the right conditions to thrive. In addition to the grant, LEDC will also have access to technical assistance from leading national researchers and experts and will be provided opportunities to connect with other grantees to share and learn best practices.
“LEDC is honored to be selected as a Community Progress Maker. Funding from the Citi Foundation will help us build on momentum and success that taken place at our organization over the past two years,” said Marla Bilonick, Executive Director of LEDC.
“The Citi Foundation is a collaborative and committed supporter that is helping to take LEDC to the next level. We are truly grateful for this investment in our organization and for our longstanding partnership with Citi.”
“The Citi Foundation feels privileged to support organizations that have demonstrated such strong commitments to their local communities and a willingness to share their experiences with others for the betterment of their neighborhoods,” said Brandee McHale, President of the Citi Foundation.
“These organizations have a track record of implementing solutions that work for their communities because they know the people there, understand what resources to tap and, most importantly, feel deeply invested in the places where they live and work. We believe that’s the key to leading urban transformation efforts in DC and elsewhere across the country.”
The Community Progress Makers Fund builds upon the Citi Foundation’s commitment to identify and support innovative solutions and organizations that are helping build stronger, more resilient cities that are engines of economic opportunity for all. The flexibility of core operating support will allow organizations and their visionary leaders to deploy solutions that address a range of issues.