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New Opportunities in Challenging Times

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Greetings!

As we reported in our last communication, the economic crisis continues to negatively impact nonprofit and community development organizations in NYC and across the country. According to a national survey of more than 1,300 nonprofit leaders recently released by Nonprofit Finance Fund (NFF), a national leader in social sector finance, and referenced in several national media outlets, 2010 will be financially more difficult or at least as difficult as 2009. (click here to see survey results)
 
In response, "Contact Fund has brought important and scarce private capital to the nonprofit market and enhanced borrowing opportunities for many organizations.  They are committed to using its capital to complement other lenders in the market, filling gaps or finding ways to work together. We value our lending partnership with the Contact Fund." Kristin Giantris, VP Northeast Region for Nonprofit Finance Fund.

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The Nonprofit Starvation Cycle
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If you're interested in the implications of the Nonprofit Finance Fund survey, we thought the following webinar offered on May 12th by The Stanford Social Innovation Review would be of interest to you: The Nonprofit Starvation Cycle.


More than 65% of nonprofit leaders say they are cutting overhead to get through these tough times. This is alarming, given that most organizations already skimp on critical infrastructure and capacity investments that are necessary to deliver results.

This session will help both nonprofit leaders and funders think through the implications of the Starvation Cycle and will focus on the most important actions leaders in both groups can take to end it.

Find out more...


Contact Fund is Growing!

save the date nov 10Contact Fund wants to update our friends and partners with exciting news about our recent growth.  In the last round of notes issued in March, Contact Fund's number of individual investors increased by almost 60%! Investment dollars have increased not only through new investors, but also through existing investors who have increased their investment in Contact Fund, resulting in an almost 30% growth in investment notes over the past 6 months!

Contact Fund has been working hard to source new deals and set up a pipeline of funding opportunities in areas such as microfinance, affordable housing, food access and community facilities. Combined with investment-raising efforts, we'll be ready later this year to deploy much-needed capital and expand our portfolio of borrowers in the New York City community development community.


As always, we encourage you to contact us at 212-209-3877 or info@contactfund.com for more information about our work with Nonprofit Finance Fund and the broader community development and social investment marketplace in NYC.

Sincerely,
Mark Reed
Founder, Contact Fund

save the date nov 10
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The Nonprofit Starvation Cycle Webinar

Stanford Social Innovation Review

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