CDCs
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Helping minority nonprofits improve local economiesCommunity Development CorporationsThe Community Economic Development Grants Program, one of the Rural Center’s longest-running programs, provides financial assistance to minority community development corporations to help them improve the economic well-being and quality of life in their communities. Go to application and reporting forms
Frequently asked questionsWhat is a CDC?What do your grants cover? Is my CDC eligible? How much money could we receive? We want to expand our programming. Can you help? How do we apply? Can you help us start a CDC in our community? CDCs are nonprofit, community-based organizations that act as a catalyst for the revitalization of their community and local economy. In many cases, these organizations succeed where both government and the private sector have failed, by creating neighborhood partnerships to address community needs and by undertaking projects that create opportunities for home ownership, small business development, youth and workforce development, and self-reliance. Although these organizations are locally based and controlled, they are a part of a national network that includes an estimated 3,000 organizations nationwide. In North Carolina, CDCs have grown from around a dozen in 1988 to as many as 80 across the state today. Our grants help CDCs cover basic operating costs and staff support. The organizations in turn provide business loans, revitalize commercial districts, build housing for low- to moderate-income families, operate child-care programs, provide literacy training, engage in long-term community planning or take on other activities tailored for local needs. To accomplish these tasks, the CDCs raise additional money from other state and national sources. To be eligible, your CDC must be incorporated under N.C. General Statute 55A and must have received its federal 501(c)3 tax-exempt status. It also must provide evidence of organizational activity.
How much money could we receive? The N.C. General Assembly has funded the CDC program since 1988. Funding level varies, however, and the amount we can award in grants is contingent on the appropriation we receive, the number of organizations requesting grants and each organization's ability to manage its operations. In recent years, the maximum grant available has been approximately $45,000 for newer CDCs and $65,000 for those with more organizational capacity. Return to the top.
We want to expand our programming. Can you help? We provide technical assistance to CDCs that receive our grants. This assistance is tailored to the needs of each organization. We find that the need for technical assistance increases as the CDCs mature and take on larger-scale projects. We also work with the organizations to identify and obtain financing for specific programs. To help us determine the appropriate assistance, we require each grantee to provide a work plan outlining activities to be accomplished during the upcoming 12 months, financial reports and accounting policies. Return to the top.
Grants under this program are awarded once a year, with applications generally due in October. Watch this space for further details on the next application period. Return to the top.
Can you help us start a CDC in our community? The Rural Center can provide limited technical assistance to help you with board training and securing federal nonprofit status. For more on building an effective CDC, please see our Hot Topics. Return to the top.
ContactThis e-mail address is being protected from spambots. You need JavaScript enabled to view it Director, Community Economic Development Grants Program Rural Economic Development Center 4021 Carya Drive Raleigh, NC 27610 Telephone: 919-250-4314 Fax: 919-250-4325 |