Funding Group Supports Nonprofit Operations
Fairfield Collaborative Gives Nonprofits a Hand in Building Housing
12/26/2006 | Connecticut Post Online (Bridgeport, Connecticut)
In its first year, a Fairfield County, Conn., funders collaborative supporting nonprofit affordable housing developers has raised $500,000, reported Connecticut Post Online. The Fairfield County Collaborative Fund for Affordable Housing was founded by several organizations concerned about the impact of the high cost of living on the county and state economies. Fund members include banks, local United Ways, community and family foundations, and a private charitable association. Fund grants helps nonprofit developers pay for office supplies, utilities, and other operating costs, freeing up money for projects, sources said. To date, the fund has $650,000 for its first three years, but many funders have not yet specified how much they intend to contribute for the second and third years.
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