The Revolution Will Not Be Grant Funded
Community development corporations have become too reliant on foundation grants and public dollars to provide affordable housing and jobs in our communities. But now that the era of giving is ending, we should consider the market as a way to support ourse
Philanthropic support is declining and government subsidy is disappearing. Isn't it time for CDCs to break the shackles of foundation support and let the market set them free?
"For 40 years community development corporations (CDCs) blossomed from the financial nutrients provided by myriad government programs and America’s wealthiest foundations. Now that this era of soft money is coming to an end, some CDC managers are filled with dread. We believe the more appropriate response should be one of excitement, because CDCs can – finally – break free from the shackles of the philanthropic plantation.
CDCs now must do what they have helped others to do – to enter the world of community entrepreneurship...We believe that the spread of social entrepreneurship, as a positive alternative to conventional fundraising, offers a fundamentally new strategy for CDCs to expand their power and their voice in the United States."
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