March 27, 2012
Richard and Ethel Herzfeld Foundation Brings Total Grant Support for Community Reinvestment Fund, USA to $125,000
FOR IMMEDIATE RELEASE
For more information contact:
Community Reinvestment Fund, USA
Contribution will support CRF's continued involvement in comprehensive community development in Milwaukee, Wisconsin.
MINNEAPOLIS - March 27, 2012 - Community Reinvestment Fund, USA (CRF), a non-profit organization that connects community development lenders with the capital resources of Wall Street, today announced it received a $15,000 contribution from the Richard and Ethel Herzfeld Foundation. This is the fourth grant made to CRF by the Milwaukee-based foundation bringing their total support to $125,000.
The Herzfeld Foundation contribution supports CRF's continued comprehensive community development initiatives in distressed communities throughout Milwaukee by providing funding for small businesses and affordable housing.
"We are grateful for the continued support of the Herzfeld Foundation," said Frank Altman, president and chief executive officer for CRF. "Our programs in Milwaukee will continue to infuse capital into small business, bringing jobs, security and affordable housing to underserved areas of the city."
With market conditions affecting credit availability and more distressed communities seeking capital than ever before, CRF is uniquely able to initiate economic recovery at the grassroots level. Since 1988, CRF has helped drive more than $1.3 billion in private capital to underserved communities, serving more than 530,000 individuals and creating or retaining nearly 50,000 jobs.
"Small businesses are crucial to our economic recovery. They employ more than half of all private sector employees," said William Haberman, president of the Herzfeld Foundation. "We are proud to continue to aid CRF in supporting small business and promoting affordable housing in Milwaukee's low-income communities."
Community Reinvestment Fund, USA (CRF), a non-profit organization and certified Community Development Financial Institution, is the nation's leader in bringing capital to public and private, non-profit community development lenders through the secondary market for community development loans. Formed in 1988, CRF has injected more than $1.3 billion into low-income and economically disadvantaged communities around the country to help stimulate job creation and economic development, provide affordable housing, and support community facilities. CRF is headquartered in Minneapolis, Minn. www.crfusa.com.
About the Richard and Ethel Herzfeld Foundation
Established in 1973, the Richard and Ethel Herzfeld Foundation supports arts and culture, education, and civic improvement in the greater Milwaukee, Wisconsin area. Believing that access to arts and cultural opportunities and value-added educational programs are vital to the well being of a community, the foundation provides grant funding to a variety of organizations. www.herzfeldfoundation.org
Posted by: CRFUSA