Oct. 29, 2015 – The N.C. Community Development Initiative and N.C. Housing Coalition announced today they have formed a strategic partnership to create greater economic opportunity and expand affordable housing in North Carolina’s hardest-hit and most underserved communities.
The partnership leverages the significant assets and networks of both organizations to achieve greater impact for the state, leaders of the two nonprofits said in announcing the partnership at the Housing Works!: 2015 NC Affordable Housing Conference in Raleigh.
“As the economic needs of our communities grow ever deeper, the resources to invest in the people and places who need them most continue to shrink,” said Tara Kenchen, president and chief executive officer of the N.C. Community Development Initiative and its lending arm, Initiative Capital. “We believe our new operating model will allow us to dramatically enhance outcomes in North Carolina’s most economically challenged areas. We’re simply stronger together.”
“Creating a more efficient, effective business model enables us to implement scalable community economic development and affordable housing strategies that will benefit more people and more communities across our state,” said N.C. Housing Coalition Executive Director Satana Deberry.
The combined organization will focus on three key strategies:
- Nurturing community-based leadership and stimulating social innovation.
- Advocating for highly effective community economic development and housing policies at the local and state level.
- Providing access to the capital needed to finance the development of strong, vibrant and inclusive communities.
The two nonprofits, both statewide intermediaries with long and successful histories of working on behalf of underserved communities in North Carolina, chose to adopt an interlocking board structure rather than merge. The Initiative will function as a holding company for Initiative Capital and the Coalition, with Kenchen serving as CEO.
“The new structure allows for shared governance and greater operating efficiencies, while preserving the brand and formal corporate structures of each entity,” said Kenchen.
Both organizations are now located at the Initiative’s headquarters at 5800 Faringdon Place in Raleigh.
For more information, visit www.strongertogethernc.org.
About the North Carolina Housing Coalition
The North Carolina Housing Coalition (www.nchousing.org) is a private, nonprofit membership organization working for decent, affordable housing that promotes self-determination and stable communities for low- and moderate-income North Carolinians.
About the North Carolina Development Initiative and Initiative Capital
The N.C. Community Development Initiative (www.ncinitiative.org) leads North Carolina’s collaborative community economic development effort, driving innovation, investment and action to create prosperous, sustainable communities. Initiative Capital, its lending arm, is a federally certified community development financial institution that makes financial investments in community organizations and businesses to spark economic growth and job creation.