Vision
The vision of Nonprofit Finance Fund (NFF) is of a strong, well-capitalized and durable nonprofit sector that uses capital effectively to support the highest aspirations and most generous impulses of people and communities. NFF is a leader in achieving this vision, investing to build effective, innovative organizations that contribute to social and economic justice, artistic expression, education, and the healing of body and spirit. NFF believes that viable communities require such organizations.
Mission
NFF works to create a strong, well-capitalized and durable nonprofit sector that connects money to mission effectively, supporting the highest aspirations and most generous impulses of people and communities.
Strategy
NFF's strategy is to provide financial resources, in the form of loans, grants, and asset-building programs, in concert with management advice. NFF works directly and with funders to strengthen these organizations and the system by which they are funded.
History
1980: Began as the Energy Conservation Fund, part of the New York Community Trust. Combined technical assistance and financing to provide nonprofits a way to alleviate high energy costs.
1984: Left 'incubator' to become an independent nonprofit, ECF Management. Added more hands-on technical assistance and used loan financing as a tool for giving our recommendations a boost toward implementation.
1989: Became the Nonprofit Facilities Fund and expanded lending program.
1992: Created the Cultural Facilities Fund and greatly expanded reach nationwide in the arts. Had expanded with sites in Chicago, San Francisco, Boston, New York and Philadelphia.
1999: Launched the Building for the FutureSM program with funding from Department of the Treasury Community Development Financial Institutions Fund, Metropolitan Life Insurance Company, Charles Hayden Foundation and Citibank, N.A. to help nonprofits plan, build, and manage assets to fund anticipated depreciation with small monthly payments.
2000: Changed name to Nonprofit Finance Fund. Focused on the broader capitalization needs of nonprofits beyond facilities.
2001: Provided $10.1 million in awards to 200 nonprofit organizations in New York City through NFF's Nonprofit Recovery Fund program, aiming to offset expenses and income losses resulting from the World Trade Center attacks.
2006: Launched NFF Capital Partners to advise nonprofits on how to attract equity-like financing to fund growth, achieve financial sustainability, and increase social impact.
2006: Awarded first New Markets Tax Credits allocation of $20 million, used to attract private capital to provide loans at reasonable rates to nonprofits serving low-income communities.
2009: Developed a suite of "Tough Times" services to help the nonprofit sector manage through the recession, aiming to ensure that no high-performing and socially viable organization fails due to financial challenges alone.
