New York, New York

New York, NY

As the nation's most populous city since 1790, New York City is home to about 8.4 million people, according to the U.S. Census Bureau’s 2013 estimate. Throughout its history, the city has been a leading entry point for immigrants, helping create an incredibly diverse city. Demographically, the city is 33 percent white (of which one third is Jewish), 29 percent Latino, 25 percent African American, and 13 percent Asian. The city is home to the largest Latino and African American communities in the country and the largest Jewish population of any city in the world.

New York is home to the United Nations, is often viewed as the financial capital of the world, and is among the most linguistically diverse cities on the globe, with an estimated 800 languages spoken. It is also a leader in community wealth building.

Founded in 1967, Bedford-Stuyvesant Restoration Corporation is often considered the first community development corporation in the nation. It has helped attract more than $500 million in investment to Central Brooklyn and placed over 20,000 youth and adults in jobs. Also considered an early program related investment success story, the organization was a recipient of a $3.4 million loan from the Ford Foundation to support the construction of Restoration Plaza, a commercial center completed in 1972 that receives an estimated 1.5 million visits each year.

Representing another national first, the Port Authority of New York and New Jersey was the first bi-state agency in the nation.  The Port Authority has been responsible for developing: the George Washington Bridge; the Outerbridge Crossing; the Goethals and the Bayonne bridges; the Lincoln Tunnel; upgrading and managing the Newark, LaGuardia, and John F. Kenney International airports; and construction of the World Trade Center. Although created by the city to help develop vital transportation links necessary to its growth, the Port Authority is completely financially self-supporting. It receives no tax revenue, and at the end of fiscal year 2013, the Port Authority had $4.4 billion in gross operating revenues.  

Today, the city continues to invest in community wealth building strategies. For example, in June 2014, the New York City Council created a $1.2 million fund to support the expansion of worker cooperatives throughout the City, representing the largest investment a U.S. municipal government has ever made in worker cooperative development. The fund will provide financial and technical assistance to help launch new cooperatives and foster the continued growth of 20 existing employee-owned cooperatives.

An overview of these and other community wealth building efforts follow:

Anchor Institutions

Fund for the City of New York

Established by the Ford Foundation in 1968, the Fund for the City of New York seeks to improve the quality of life of all New Yorkers by focusing on improving the functioning of government and nonprofit organizations. Through its Cash Flow Program, the Fund provides bridge financing to nonprofits waiting for committed funds from government and foundations, loaning about $20 million each year to almost 400 organizations and $250 million since 1976. Read more about Fund for the City of New York...

New York Community Trust

Established in 1924, the New York Community Trust is one of the oldest community foundations in the nation.  As of 2013, it had $2.5 billion in total assets and managed over 2,000 funds. In 1980, the foundation incubated a CDFI, the Nonprofit Finance Fund (at the time known as the Energy Conservation Fund), which has loaned over $287 million to nonprofits and social enterprises around the country. Read more about New York Community Trust...

New York Foundation

Founded with a gift of $1 million from Alfred M. Heinsheimer in 1909, the New York Foundation is one of the oldest foundations in the country and focused on providing resources and early support to organizations seeking to improve life in the city. In 2012, the Foundation awarded more than $3.4 million in grants to a range of nonprofits focused on advocacy, community organizing, community development, and direct service. Read more about New York Foundation...

The New York Women's Foundation

Through partnerships that leverage human and financial capital, the New York Women's Foundation strives to improve the long-term economic security of low-income women and girls by focusing on five areas: community organizing and advocacy, economic security and justice, health and sexual rights, positive development of girls and young women, and safety. In 2014, the foundation plans to award $5.5 million to 80 organizations through a participatory grant-making process that includes community leaders. Read more about The New York Women's Foundation...

Community Development Corporations (CDCs)

Abyssinian Development Corporation

Focused on improving the quality of life in the Harlem community, the Abyssinian Development Corporation works to increase the supply of affordable housing, strengthen social services, foster economic revitalization, and improve educational and developmental opportunities for local youth. Since its founding in 1989, the organization has leveraged more than $600 million in investments. Read more about Abyssinian Development Corporation...

Acacia Network

Acacia Network formed in 2009 when two Latino-based agencies, Promesa, Inc. and Bronx Addiction Services Integrated Concepts System, Inc. (BASICS) merged.  With five additional Latino-based agencies joining the network since then, Acacia now offers a wide range of health, housing, and economic development programs.  The network currently includes 7 community health centers, an early education center, 1,780 affordable housing units, and transitional housing for 750 families and 475 single adults. Read more about Acacia Network...

Asian Americans for Equality

Started in 1974 as a grassroots movement in New York's Chinatown, Asian Americans for Equality is an organization dedicated to improving the lives of immigrant populations, particularly Asian Americans, through community economic development, tenant and minority advocacy, and helping individuals build assets. To date, the group has created more than 700 units of housing, secured almost $250 million in mortgage financing for home buyers, and disbursed $13 million in loans to hundreds of small businesses. Read more about Asian Americans for Equality...

Association for Neighborhood and Housing Development

Consisting of 95 member organizations of non-profit neighborhood housing groups, the Association for Neighborhood and Housing Development strives to create stronger communities through the development of affordable housing the preserves low-income and working class communities. To date, member organizations have developed more than 80,000 units of low- and moderate-income housing and directly manage 30,000 units, providing housing for nearly 100,000 people. Read more about Association for Neighborhood and Housing Development...

Bedford-Stuyvesant Restoration Corporation

Bedford Stuyvesant Restoration Corporation, the nation's first community development corporation, partners with Central Brooklyn residents and business to foster economic self sufficiency, enhance family stability and growth, promote the arts and culture, and help the neighborhood develop into a safe, vibrant place to live, work and visit.   Since its establishment in 1967, the CDC has helped attract more than $500 million in investment, placed over 20,000 youth and adults in jobs, and helped construct or renovate 2,200 units of housing. Read more about Bedford-Stuyvesant Restoration Corporation...

Chhaya Community Development Corporation

Focused on creating more stable and sustainable communities, Chhaya Community Development Corporation seeks to accomplish this goal by increasing civic participation in the community and by addressing housing and community development needs of South Asian Americans and other new immigrants. Read more about Chhaya Community Development Corporation...

Cypress Hills Local Development Corporation

Serving more than 8,000 residents each year, Cypress Hills Local Development Corporation was formed in 1984 by a group of local community members and small business owners. To date, the organization has renovated a 52,000 square foot, former industrial facility into a 400-seat community-founded alternative public school, developed 400 units of affordable housing, built 2 school-based community centers, and reduced the commercial vacancy rate by two-thirds. Read more about Cypress Hills Local Development Corporation...

Fifth Avenue Committee

Founded in the late 1970s, the Fifth Avenue committee to date has developed more than 600 units of affordable housing for low and moderate-income families in over 100 buildings and has brought more than $300 million in direct investment for community development into South Brooklyn neighborhoods. Fifth Avenue's affiliate, Brooklyn Workforce Innovations, a social purpose staffing company, helps more than 750 individuals a year to access decent jobs. Read more about Fifth Avenue Committee...

Flatbush Development Corporation

Focused on a 2.5-mile area bounded on the north by Parkside Avenue, on the south by Avenue H, on the East by Flatbush Avenue, and on the West by Coney Island Avenue, the Flatbush Development Corporation was formed in 1975 to address what community members saw as the beginnings of neighborhood decline. Today, the organization is one of the largest providers of programs for youth in the area - offering opportunities for more than 1200 youth and young adults annually - and provides more than 500 tenants and homeowners with individual counseling each year. Read more about Flatbush Development Corporation...

Mid Bronx Desperadoes

Founded in the South Bronx in 1974 as a coalition of volunteers determined to save their community from the overwhelming incidents of arson, disinvestment, and abandonment, Mid Bronx Desperadoes (MBD) has been instrumental in the rebuilding of the Crotona Park East neighborhood in the South Bronx.  To date, MBD has successfully constructed and renovated over 2,300 units of housing. In addition, MBD developed the construction of the New Horizons Retail Center, which has created over 200 full-time and part-time permanent jobs. Read more about Mid Bronx Desperadoes...

Pratt Area Community Council

Although formed in 1964 by three community members, the Pratt Area Community Council (PACC) soon encompassed other community organizations in Forte Greene, Clinton Hill, the Wallabout Community and later the Bedford Stuyvesant neighborhood. Read more about Pratt Area Community Council...

South Bronx Overall Economic Development Corporation

Formed in 1972 by concerned business executives and community leaders hoping to address the flight of jobs and businesses from the community, the South Bronx Overall Economic Development Corporation (SoBRO) has developed overtime to incorporate a more comprehensive approach to community development. Today, in addition to providing youth education services, job training and placement and other services, SoBro manages more than 700 units of affordable housing and has built or rehabilitated almost 260,000 square feet of industrial, retail space and office space in the Bronx. Read more about South Bronx Overall Economic Development Corporation...

Community Development Financial Institutions (CDFIs)

Bethex Federal Credit Union

Serving more than 5,000 members, Bethex is a small community development credit union based in the Bronx that has come up with an innovative way of dealing with competition from check cashers: partnering with them to enable customers at their point-of-banking terminals - more than 130 sites across the city - to make free loan payments and deposits into their credit union accounts. Read more about Bethex Federal Credit Union...

Business Outreach Center (BOC) Network

Founded in 2001, the Business Outreach Center (BOC) Network provides micro-enterprise and small business development services to new entrepreneurs and existing organizations in New York City and Newark, NJ. Operating a microloan program, BOC Network has helped clients to access more than $23 million dollars in small business financing. To date, over 45 percent of the organization's clients are new entrepreneurs and it has individually assisted more than 8,000 small business owners and would-be entrepreneurs. Read more about Business Outreach Center (BOC) Network ...

Community Preservation Corporation

Sponsored by more than 90 commercial banks, savings institutions, and insurance companies, the Community Preservation Corporation is a nonprofit founded in 1974 focused on stabilizing, strengthening and sustaining low-and mixed-income communities. Accomplishing its mission through helping developers finance and build affordable multi-family housing, the organization has invested more than $7.2 billion and has helped construct or save more than 157,000 new or rehabbed units throughout New York, New Jersey, and Connecticut. Read more about Community Preservation Corporation...

Lower East Side People's Federal Credit Union

As the largest credit union in New York City with 6,000 members and assets of $35 million, the Lower East Side People's Federal Credit union serves the immigrant and underserved population of the city through microfinance, low-interest personal loans and other financial services. Founded in 1986 when all commercial banks left the Lower East Side of Manhattan, the credit union has reinvested over $56 million back into the community, mobilized over $30 million in local savings, and expanded access to financial services. Read more about Lower East Side People's Federal Credit Union...

Nonprofit Finance Fund

The Nonprofit Finance Fund was established in 1980 and is now one of the nation's leading community development financial institutions (CDFIs), serving nonprofits in the Washington, D.C. Read more about Nonprofit Finance Fund...

Renaissance Economic Development Corporation

Working in partnership with Asian Americans for Equality, the Renaissance Economic Development Corporation provides financing and technical assistance in low-income, immigrant neighborhoods in order to promote the creation of low-income, minority, women, and immigrant entrepreneurs. Since its founding in 1997, Renaissance has lent more $25 million to more than 700 small businesses and has provided technical assistance to more than 2,500 entrepreneurs. Read more about Renaissance Economic Development Corporation...

University Neighborhood Housing Program

Founded in 1983, the University Neighborhood Housing Program seeks to create, preserve, and finance affordable housing in the Northwest Bronx. The group's loan fund, seeded in 1988, has lent over $4 million to date. This investment has helped provide for the preservation, purchase, and renovation of 67 multifamily buildings with close to 3,000 units of affordable housing and the creation or improvement of 886 units of low-income housing. Read more about University Neighborhood Housing Program...

Washington Heights and Inwood Development Corporation

Serving community members in the Washington Heights and Inwood section of northern Manhattan since 1978, the Washington Heights and Inwood Development Corporation operates a micro-business development program, child care business development services, and a micro business incubator for between 20 and 50 individuals (depending on the season). The group has helped create more than 500 micro enterprises since 1992 and has made 369 loans totaling $5.6 million since 1995. Of these loans, 96% have gone to minority- and 40% have gone to women-owned businesses. Read more about Washington Heights and Inwood Development Corporation...

Cooperatives (Co-ops)

Flatbush Food Co-op

Established in 1976, the Flatbush Food Co-op is a full-service natural foods store specializing in organic products. Located in the heart of Victorian Flatbush since 1985, in one of Brooklyn's most diverse neighborhoods, the Co-op has nearly 3,000 members and many more shoppers. Read more about Flatbush Food Co-op...

Park Slope Food Co-op

The Park Slope Food Coop, located in the Park Slope section of Brooklyn, was founded in 1973 by a small group of committed neighbors. Today the co-op has more than 15,500 members. Unlike many co-ops where paying a fee is sufficient to become a member, members at Park Slope must commit to doing a workshift (there are some exceptions to this work policy for hardship cases) every four weeks in exchange for a 20-40% savings on groceries. The co-op estimates that this form of work exchange means that members do 75% of all co-op labor. Read more about Park Slope Food Co-op...

The Film-Makers' Cooperative

As the largest archive and distributor of independent and avant-garde films in the world, the Film-Makers' Cooperative was formed in 1962 to help independently working filmmakers with the financing, promotion, and distribution of their films. Anyone can join by paying the annual membership fee and by submitting a film or video, to which the person retains all ownership rights and pricing power. To date, the Co-op has more than 5,000 films, videotapes, and DVDs in its collection. Read more about The Film-Makers' Cooperative...

Cross-Sectoral

Structured Employment Economic Development Corporation (Seedco)

Headquartered in New York and operating in 16 states across the county, Seedco strives to create better access to good paying jobs for low-income individuals in order to enable them to achieve financial stability and mobility. Since 2005, Seedco has helped more than 51,000 working individuals and families to access $71 million in work supports and government benefits and has provide counseling services for over 14,000 families threatened by foreclosure. Read more about Structured Employment Economic Development Corporation (Seedco)...

Employee Stock Ownership Plans (ESOPs)

Blue Tee Corp.

As one of the largest 100% employee-owned companies in the nation, Blue Tee Corp. specializes in steel recycling, distribution, and the design and manufacture of equipment and replacement parts for the refining, earthmoving, water-well, oilfield, and solid waste industries. To date, Blue Tee Corp. has approximately 5,000 employees. Read more about Blue Tee Corp....

National Spinning Company

Headquartered in New York with two spinning plants and one dye plant in North Carolina, the National Spinning Company became an employee-owned textile company in 1994. Originally founded in 1921, the National Spinning Company specializes in dyed raw white yarns for contemporary knits, woven fabrics, and home crafts. The ESOP employs more than 700 people. Read more about National Spinning Company...

Green Economy

Green Worker Cooperatives

Green Worker Cooperatives is a South Bronx-based organization dedicated to incubating worker-owned green businesses in order to build a strong local economy rooted in democracy and environmental justice.  To do so, it runs the “Co-op Academy,” a 5-month long training and support program that helps teams of entrepreneurs develop worker-owned green businesses. Read more about Green Worker Cooperatives...

Sustainable South Bronx

Founded in 2001 by South Bronx resident Majora Carter, Sustainable South Bronx promotes innovative, economically sustainable projects that are informed by community needs. This work includes “green roof” installation and maintenance, as well as its Bronx Environmental Stewardship Training program, a ten-week green collar job training and placement program with an 85-percent job placement success rate that has graduated more than 400 New Yorkers since 2003. Read more about Sustainable South Bronx...

Green Worker Cooperatives

Green Worker Cooperatives is a South Bronx-based organization dedicated to incubating worker-owned green businesses in order to build a strong local economy rooted in democracy and environmental justice.  To do so, it runs the “Co-op Academy,” a 5-month long training and support program that helps teams of entrepreneurs develop worker-owned green businesses. Read more about Green Worker Cooperatives...

Worker Cooperatives

Green Worker Cooperatives

Green Worker Cooperatives is a South Bronx-based organization dedicated to incubating worker-owned green businesses in order to build a strong local economy rooted in democracy and environmental justice.  To do so, it runs the “Co-op Academy,” a 5-month long training and support program that helps teams of entrepreneurs develop worker-owned green businesses. Read more about Green Worker Cooperatives...

Beyond Childcare

Launched in 2008 to help immigrant women increase their income, build internal leadership, and achieve mutual support, Beyond Care Child Care Cooperative is a worker-owned cooperative with 30 members who provide childcare services.  Founded on the basis of democracy, equality and justice, the Cooperative provides living wage jobs, social supports, and educational opportunities for all its members. Read more about Beyond Childcare...

Brooklyn College Coffee Collective

Student founded and student-run, Brooklyn College Coffee was founded in 2009 and opened in 2010 to serve the Brooklyn College community and its surrounding neighborhoods. All of their beans are ethically sourced and come from small farms in partnership with their distributor, Counter Culture Coffee. Read more about Brooklyn College Coffee Collective...

Build With Prospect

The first worker-owned construction company in New York, Build With Prospect, Inc. designs and constructs low energy residences and provides energy audit and retrofit services.  The firm relies on sustainable and ecologically-sound design principles to improve its clients’ health and energy costs, and the environment. Read more about Build With Prospect...

Center for Family Life

The Center for Family Life (CFL) is a nonprofit, social service organization focused on promoting positive outcomes for children, adults, and families in Brooklyn’s Sunset Park neighborhood.  Aiming to help area residents secure fair wages and dignified employment, CFL began incubating worker-owned cooperatives eight years ago.  Recognizing the potential of the model to create job opportunities for hard-to-employ populations, in 2012 CFL launched a NYC Worker Cooperative Development Initiative, which provides 12 months of training and technical assistance to other community-based groups in Read more about Center for Family Life...

Cooperative Home Care Associates

Founded 25 years ago as an employee-owned home care agency in the South Bronx, Cooperative Home Care Associates is now the largest worker cooperative in the United States, employing roughly 2,000 African American and Latina workers in the poorest urban county in the United States. CHCA’s nonprofit training arm, Paraprofessional Health Institute, annually trains more than 450 inner-city women to become home health aides. Read more about Cooperative Home Care Associates...

Green Worker Cooperatives

Green Worker Cooperatives is a South Bronx-based organization dedicated to incubating worker-owned green businesses in order to build a strong local economy rooted in democracy and environmental justice.  To do so, it runs the “Co-op Academy,” a 5-month long training and support program that helps teams of entrepreneurs develop worker-owned green businesses. Read more about Green Worker Cooperatives...

NYC NoWC: New York City Network of Worker Cooperatives

The New York City Network of Worker Cooperatives was established by a coalition of local worker-owners, developers, lawyers, and academics in 2009.  The organization attempts to be a comprehensive network for a variety of cooperative sectors throughout New York City. They strive to promote and develop the educational, financial, and methodological resources of its member cooperatives.  The network shares its knowledge and resources at its monthly meetings, held in both Spanish and English, and open to the public. Read more about NYC NoWC: New York City Network of Worker Cooperatives...

Individual Wealth Building

Business Center for New Americans

Aiming to create a pathway to self-sufficiency, The Business Center for New Americans provides immigrants, refugees, women, and others microloans, homeownership assistance, and workshops and training focused on business development and financial literacy. It also has an Individual Development Account (IDA) program for low-income refugees, which provides a dollar-for-dollar match for every dollar saved and can be used to fund participants’ small businesses, first homes, and education. Read more about Business Center for New Americans...

Chinatown Manpower Project, Inc.

Founded in 1972 as the Chinatown Manpower Project, Inc. to provide Chinese immigrants with job training, CMP (which now stands for Career Mobility Partnership) offers a range of workforce and economic development programs geared to help all New Yorkers achieve economic self-sufficiency and career advancement.  Its Business Outreach Center, launched in 2000 to improve the minority and immigrant community through small business development, education and multi-community networking, is credited with helping nearly 400 businesses create jobs and increase sales by $2.8 million. Read more about Chinatown Manpower Project, Inc....

Individual Wealth Preservation

NYC Department of Consumer Affairs Office of Financial Empowerment

The Office of Financial Empowerment (OFE) is the first municipal office of its kind in the nation. Its mission is to educate, empower, and protect low income New Yorkers. Read more about NYC Department of Consumer Affairs Office of Financial Empowerment ...

Local Food Systems

Added Value

Added Value is a non-profit focused on creating a local, affordable food system in the neighborhood of Red Hook by turning vacant land into urban farms and by providing job training to local community youth (to date, more than 150 teenagers).  Its accomplishments include growing 12 tons of fresh produce for donation, sale and consumption; serving as a daily educational/work site for more than 150 teens; generating $70,000 in revenue for youth stipends, creating $120,000 in local economic activity; educating more than 1,300 schoolchildren on an annual basis; and building the largest community compost program in NYC that is run entirely with sustainable resources.

Cornell Cooperative Extension (New York City)

The Cornell Cooperative Extension based in New York City is focused on improving urban food systems and green spaces while providing support for family and youth development. The Extension offers programs in horticulture and ecology focused on the city's parks and green spaces and a Hydroponics Learning Model Program - a course designed to teach a useful urban agriculture method invented at the Extension while developing students' critical thinking skills. Read more about Cornell Cooperative Extension (New York City)...

Municipal Enterprise

Port Authority of New York & New Jersey

The Port Authority of New York & New Jersey was formed in 1921 as the first bi-state agency in the nation, in order to develop important transportation links between the two states. With jurisdiction over the Port District - a region within a radius of approximately 25 miles of the Statue of Liberty - the Port Authority is responsible for developing: the George Washington Bridge; the Outerbridge Crossing; the Goethals and the Bayonne bridges; the Lincoln Tunnel; upgrading and managing the Newark, LaGuardia, and John F. Read more about Port Authority of New York & New Jersey...

New State & Local Policies

Good Jobs New York

Good Jobs New York, a joint project of Good Jobs First and the Fiscal Policy Institute, serves as a clearinghouse of information about the costs and other key aspects of the largest New York City retention deals of the last decade. Besides investigating these deals, it provides information about accountability measures in use elsewhere, and other ways public resources can be used to strengthen the economy. In May 2005, advocacy efforts linked to its research led New York City to approve a corporate subsidy disclosure law. Read more about Good Jobs New York...

Harlem Children's Zone

Providing free services and resources to children from before birth through college, Harlem Children's Zone is a community-based organization focused on breaking the cycle of generational poverty in Harlem. Read more about Harlem Children's Zone...

Make the Road New York

Formed in 2007 by the merger of Make the Road by Walking and the Latin American Integration Center, Make the Road New York is a grassroots organization dedicated to addressing issues of inequality and economic injustice through community and electoral organizing, strategic policy advocacy, leadership development, youth and adult education, and high quality legal and support services. Read more about Make the Road New York...

Program Related Investments

Common Ground Community

Working to develop supportive housing and implement other research-based practices that end homelessness, Common Ground has developed more than 3,200 units of permanent and transitional housing in New York City, upstate New York, and Connecticut. A recipient of a $2,000,000 PRI to support preservation of affordable rental housing in 2007 from The John D. and Catherine T. MacArthur Foundation, Common Ground is working to create an additional 4,000 units of housing for the homeless by 2015. Read more about Common Ground Community...

Social Enterprise

Colors

Located in lower Manhattan and started by former workers of a World Trade Center restaurant in 2006, COLORS is a nonprofit-owned social enterprise, run by the Restaurant Opportunities Center which provides living wage jobs and professional development training for workers, while serving customers healthy gluten-free food. Read more about Colors...

Housing Works

Housing Works aims to end the dual crises of homelessness and AIDS through advocacy, service provision, and entrepreneurial businesses that sustain its efforts. Since its establishment in 1990, it has housed and/or provided services to over 20,000 people. Its job training and placement program which uses social enterprises including supportive housing apartment rentals, a bookstore and a thrift shop to underwrite the group's programs and help clients achieve self-sufficiency, earned about 40 percent of its revenues (more than $22 million) from its businesses in 2013. Read more about Housing Works...

State & Local Investments

Center for Economic Investment

In 2006, then Mayor Michael Bloomberg announced that the newly created Center for Economic Opportunity (CEO) would oversee a new $150 million per year initiative to fund more than 30 City anti-poverty programs recommended by the Commission for Economic Opportunity. Included in this effort are programs to help low income individuals build assets, increasing education opportunities for at risk adults, and creating employment opportunities for disengaged young adults.  Since its inception, CEO has launched over 60 anti-poverty programs credited with serving more than 500,000 people. Read more about Center for Economic Investment...

Co-op Development Fund

To support the expansion of worker cooperatives throughout the City, the New York City Council created a $1.2 million fund, representing the largest investment a U.S. Read more about Co-op Development Fund...

New York City Comptroller, "Economically targeted investments"

In 2003, the New York City Comptroller's office made new economically targeted investments (ETI) or financial commitments of city worker pensions totaling $234.5 million and has increased its investments since that period. Since the ETI program began, close to $2 billion has been invested in New York City’s five boroughs. Read more about New York City Comptroller, "Economically targeted investments"...

University & Community Partnerships

Columbia University’s Office of School and Community Partnerships at Teachers College

Started in 2007, Columbia University’s Office of School and Community Partnerships (OSCP) at Teachers College (TC) is focused on creating networks and leveraging opportunities that best utilize the college's expertise and resources to benefit underserved youth in the city. The Office has partnerships with 32 public elementary, middle and high schools that serve students most at risk of dropping out and under-achieving, and in the last year alone, coordinated 19 programs that reached more than 15,000 students. Read more about Columbia University’s Office of School and Community Partnerships at Teachers College...

CUNY Institute for Health Equity

Drawing on its wealth of academic resources, public health expertise, strong community relations and location across the city, CUNY Institute for Health Equity was established to address the health inequities among the city's low-income residents and racial/ethnic populations. The Institute will strive to identify and respond to the social conditions that generate these disparities and provide technical support to its community partners so that they can better serve their communities. Read more about CUNY Institute for Health Equity...

Community Development Corporations (CDCs)

Abyssinian Development Corporation

Focused on improving the quality of life in the Harlem community, the Abyssinian Development Corporation works to increase the supply of affordable housing, strengthen social services, foster economic revitalization, and improve educational and developmental opportunities for local youth. Since its founding in 1989, the organization has leveraged more than $600 million in investments. Read more about Abyssinian Development Corporation...

Acacia Network

Acacia Network formed in 2009 when two Latino-based agencies, Promesa, Inc. and Bronx Addiction Services Integrated Concepts System, Inc. (BASICS) merged.  With five additional Latino-based agencies joining the network since then, Acacia now offers a wide range of health, housing, and economic development programs.  The network currently includes 7 community health centers, an early education center, 1,780 affordable housing units, and transitional housing for 750 families and 475 single adults. Read more about Acacia Network...

Asian Americans for Equality

Started in 1974 as a grassroots movement in New York's Chinatown, Asian Americans for Equality is an organization dedicated to improving the lives of immigrant populations, particularly Asian Americans, through community economic development, tenant and minority advocacy, and helping individuals build assets. To date, the group has created more than 700 units of housing, secured almost $250 million in mortgage financing for home buyers, and disbursed $13 million in loans to hundreds of small businesses. Read more about Asian Americans for Equality...

Association for Neighborhood and Housing Development

Consisting of 95 member organizations of non-profit neighborhood housing groups, the Association for Neighborhood and Housing Development strives to create stronger communities through the development of affordable housing the preserves low-income and working class communities. To date, member organizations have developed more than 80,000 units of low- and moderate-income housing and directly manage 30,000 units, providing housing for nearly 100,000 people. Read more about Association for Neighborhood and Housing Development...

Bedford-Stuyvesant Restoration Corporation

Bedford Stuyvesant Restoration Corporation, the nation's first community development corporation, partners with Central Brooklyn residents and business to foster economic self sufficiency, enhance family stability and growth, promote the arts and culture, and help the neighborhood develop into a safe, vibrant place to live, work and visit.   Since its establishment in 1967, the CDC has helped attract more than $500 million in investment, placed over 20,000 youth and adults in jobs, and helped construct or renovate 2,200 units of housing. Read more about Bedford-Stuyvesant Restoration Corporation...

Chhaya Community Development Corporation

Focused on creating more stable and sustainable communities, Chhaya Community Development Corporation seeks to accomplish this goal by increasing civic participation in the community and by addressing housing and community development needs of South Asian Americans and other new immigrants. Read more about Chhaya Community Development Corporation...

Cypress Hills Local Development Corporation

Serving more than 8,000 residents each year, Cypress Hills Local Development Corporation was formed in 1984 by a group of local community members and small business owners. To date, the organization has renovated a 52,000 square foot, former industrial facility into a 400-seat community-founded alternative public school, developed 400 units of affordable housing, built 2 school-based community centers, and reduced the commercial vacancy rate by two-thirds. Read more about Cypress Hills Local Development Corporation...

Fifth Avenue Committee

Founded in the late 1970s, the Fifth Avenue committee to date has developed more than 600 units of affordable housing for low and moderate-income families in over 100 buildings and has brought more than $300 million in direct investment for community development into South Brooklyn neighborhoods. Fifth Avenue's affiliate, Brooklyn Workforce Innovations, a social purpose staffing company, helps more than 750 individuals a year to access decent jobs. Read more about Fifth Avenue Committee...

Flatbush Development Corporation

Focused on a 2.5-mile area bounded on the north by Parkside Avenue, on the south by Avenue H, on the East by Flatbush Avenue, and on the West by Coney Island Avenue, the Flatbush Development Corporation was formed in 1975 to address what community members saw as the beginnings of neighborhood decline. Today, the organization is one of the largest providers of programs for youth in the area - offering opportunities for more than 1200 youth and young adults annually - and provides more than 500 tenants and homeowners with individual counseling each year. Read more about Flatbush Development Corporation...

Mid Bronx Desperadoes

Founded in the South Bronx in 1974 as a coalition of volunteers determined to save their community from the overwhelming incidents of arson, disinvestment, and abandonment, Mid Bronx Desperadoes (MBD) has been instrumental in the rebuilding of the Crotona Park East neighborhood in the South Bronx.  To date, MBD has successfully constructed and renovated over 2,300 units of housing. In addition, MBD developed the construction of the New Horizons Retail Center, which has created over 200 full-time and part-time permanent jobs. Read more about Mid Bronx Desperadoes...

Pratt Area Community Council

Although formed in 1964 by three community members, the Pratt Area Community Council (PACC) soon encompassed other community organizations in Forte Greene, Clinton Hill, the Wallabout Community and later the Bedford Stuyvesant neighborhood. Read more about Pratt Area Community Council...

South Bronx Overall Economic Development Corporation

Formed in 1972 by concerned business executives and community leaders hoping to address the flight of jobs and businesses from the community, the South Bronx Overall Economic Development Corporation (SoBRO) has developed overtime to incorporate a more comprehensive approach to community development. Today, in addition to providing youth education services, job training and placement and other services, SoBro manages more than 700 units of affordable housing and has built or rehabilitated almost 260,000 square feet of industrial, retail space and office space in the Bronx. Read more about South Bronx Overall Economic Development Corporation...

Local Food Systems

Added Value

Added Value is a non-profit focused on creating a local, affordable food system in the neighborhood of Red Hook by turning vacant land into urban farms and by providing job training to local community youth (to date, more than 150 teenagers).  Its accomplishments include growing 12 tons of fresh produce for donation, sale and consumption; serving as a daily educational/work site for more than 150 teens; generating $70,000 in revenue for youth stipends, creating $120,000 in local economic activity; educating more than 1,300 schoolchildren on an annual basis; and building the largest community compost program in NYC that is run entirely with sustainable resources.

Cornell Cooperative Extension (New York City)

The Cornell Cooperative Extension based in New York City is focused on improving urban food systems and green spaces while providing support for family and youth development. The Extension offers programs in horticulture and ecology focused on the city's parks and green spaces and a Hydroponics Learning Model Program - a course designed to teach a useful urban agriculture method invented at the Extension while developing students' critical thinking skills. Read more about Cornell Cooperative Extension (New York City)...

Community Development Financial Institutions (CDFIs)

Bethex Federal Credit Union

Serving more than 5,000 members, Bethex is a small community development credit union based in the Bronx that has come up with an innovative way of dealing with competition from check cashers: partnering with them to enable customers at their point-of-banking terminals - more than 130 sites across the city - to make free loan payments and deposits into their credit union accounts. Read more about Bethex Federal Credit Union...

Business Outreach Center (BOC) Network

Founded in 2001, the Business Outreach Center (BOC) Network provides micro-enterprise and small business development services to new entrepreneurs and existing organizations in New York City and Newark, NJ. Operating a microloan program, BOC Network has helped clients to access more than $23 million dollars in small business financing. To date, over 45 percent of the organization's clients are new entrepreneurs and it has individually assisted more than 8,000 small business owners and would-be entrepreneurs. Read more about Business Outreach Center (BOC) Network ...

Community Preservation Corporation

Sponsored by more than 90 commercial banks, savings institutions, and insurance companies, the Community Preservation Corporation is a nonprofit founded in 1974 focused on stabilizing, strengthening and sustaining low-and mixed-income communities. Accomplishing its mission through helping developers finance and build affordable multi-family housing, the organization has invested more than $7.2 billion and has helped construct or save more than 157,000 new or rehabbed units throughout New York, New Jersey, and Connecticut. Read more about Community Preservation Corporation...

Lower East Side People's Federal Credit Union

As the largest credit union in New York City with 6,000 members and assets of $35 million, the Lower East Side People's Federal Credit union serves the immigrant and underserved population of the city through microfinance, low-interest personal loans and other financial services. Founded in 1986 when all commercial banks left the Lower East Side of Manhattan, the credit union has reinvested over $56 million back into the community, mobilized over $30 million in local savings, and expanded access to financial services. Read more about Lower East Side People's Federal Credit Union...

Nonprofit Finance Fund

The Nonprofit Finance Fund was established in 1980 and is now one of the nation's leading community development financial institutions (CDFIs), serving nonprofits in the Washington, D.C. Read more about Nonprofit Finance Fund...

Renaissance Economic Development Corporation

Working in partnership with Asian Americans for Equality, the Renaissance Economic Development Corporation provides financing and technical assistance in low-income, immigrant neighborhoods in order to promote the creation of low-income, minority, women, and immigrant entrepreneurs. Since its founding in 1997, Renaissance has lent more $25 million to more than 700 small businesses and has provided technical assistance to more than 2,500 entrepreneurs. Read more about Renaissance Economic Development Corporation...

University Neighborhood Housing Program

Founded in 1983, the University Neighborhood Housing Program seeks to create, preserve, and finance affordable housing in the Northwest Bronx. The group's loan fund, seeded in 1988, has lent over $4 million to date. This investment has helped provide for the preservation, purchase, and renovation of 67 multifamily buildings with close to 3,000 units of affordable housing and the creation or improvement of 886 units of low-income housing. Read more about University Neighborhood Housing Program...

Washington Heights and Inwood Development Corporation

Serving community members in the Washington Heights and Inwood section of northern Manhattan since 1978, the Washington Heights and Inwood Development Corporation operates a micro-business development program, child care business development services, and a micro business incubator for between 20 and 50 individuals (depending on the season). The group has helped create more than 500 micro enterprises since 1992 and has made 369 loans totaling $5.6 million since 1995. Of these loans, 96% have gone to minority- and 40% have gone to women-owned businesses. Read more about Washington Heights and Inwood Development Corporation...

Worker Cooperatives

Beyond Childcare

Launched in 2008 to help immigrant women increase their income, build internal leadership, and achieve mutual support, Beyond Care Child Care Cooperative is a worker-owned cooperative with 30 members who provide childcare services.  Founded on the basis of democracy, equality and justice, the Cooperative provides living wage jobs, social supports, and educational opportunities for all its members. Read more about Beyond Childcare...

Brooklyn College Coffee Collective

Student founded and student-run, Brooklyn College Coffee was founded in 2009 and opened in 2010 to serve the Brooklyn College community and its surrounding neighborhoods. All of their beans are ethically sourced and come from small farms in partnership with their distributor, Counter Culture Coffee. Read more about Brooklyn College Coffee Collective...

Build With Prospect

The first worker-owned construction company in New York, Build With Prospect, Inc. designs and constructs low energy residences and provides energy audit and retrofit services.  The firm relies on sustainable and ecologically-sound design principles to improve its clients’ health and energy costs, and the environment. Read more about Build With Prospect...

Center for Family Life

The Center for Family Life (CFL) is a nonprofit, social service organization focused on promoting positive outcomes for children, adults, and families in Brooklyn’s Sunset Park neighborhood.  Aiming to help area residents secure fair wages and dignified employment, CFL began incubating worker-owned cooperatives eight years ago.  Recognizing the potential of the model to create job opportunities for hard-to-employ populations, in 2012 CFL launched a NYC Worker Cooperative Development Initiative, which provides 12 months of training and technical assistance to other community-based groups in Read more about Center for Family Life...

Cooperative Home Care Associates

Founded 25 years ago as an employee-owned home care agency in the South Bronx, Cooperative Home Care Associates is now the largest worker cooperative in the United States, employing roughly 2,000 African American and Latina workers in the poorest urban county in the United States. CHCA’s nonprofit training arm, Paraprofessional Health Institute, annually trains more than 450 inner-city women to become home health aides. Read more about Cooperative Home Care Associates...

Green Worker Cooperatives

Green Worker Cooperatives is a South Bronx-based organization dedicated to incubating worker-owned green businesses in order to build a strong local economy rooted in democracy and environmental justice.  To do so, it runs the “Co-op Academy,” a 5-month long training and support program that helps teams of entrepreneurs develop worker-owned green businesses. Read more about Green Worker Cooperatives...

NYC NoWC: New York City Network of Worker Cooperatives

The New York City Network of Worker Cooperatives was established by a coalition of local worker-owners, developers, lawyers, and academics in 2009.  The organization attempts to be a comprehensive network for a variety of cooperative sectors throughout New York City. They strive to promote and develop the educational, financial, and methodological resources of its member cooperatives.  The network shares its knowledge and resources at its monthly meetings, held in both Spanish and English, and open to the public. Read more about NYC NoWC: New York City Network of Worker Cooperatives...

Employee Stock Ownership Plans (ESOPs)

Blue Tee Corp.

As one of the largest 100% employee-owned companies in the nation, Blue Tee Corp. specializes in steel recycling, distribution, and the design and manufacture of equipment and replacement parts for the refining, earthmoving, water-well, oilfield, and solid waste industries. To date, Blue Tee Corp. has approximately 5,000 employees. Read more about Blue Tee Corp....

National Spinning Company

Headquartered in New York with two spinning plants and one dye plant in North Carolina, the National Spinning Company became an employee-owned textile company in 1994. Originally founded in 1921, the National Spinning Company specializes in dyed raw white yarns for contemporary knits, woven fabrics, and home crafts. The ESOP employs more than 700 people. Read more about National Spinning Company...

Individual Wealth Building

Business Center for New Americans

Aiming to create a pathway to self-sufficiency, The Business Center for New Americans provides immigrants, refugees, women, and others microloans, homeownership assistance, and workshops and training focused on business development and financial literacy. It also has an Individual Development Account (IDA) program for low-income refugees, which provides a dollar-for-dollar match for every dollar saved and can be used to fund participants’ small businesses, first homes, and education. Read more about Business Center for New Americans...

Chinatown Manpower Project, Inc.

Founded in 1972 as the Chinatown Manpower Project, Inc. to provide Chinese immigrants with job training, CMP (which now stands for Career Mobility Partnership) offers a range of workforce and economic development programs geared to help all New Yorkers achieve economic self-sufficiency and career advancement.  Its Business Outreach Center, launched in 2000 to improve the minority and immigrant community through small business development, education and multi-community networking, is credited with helping nearly 400 businesses create jobs and increase sales by $2.8 million. Read more about Chinatown Manpower Project, Inc....

State & Local Investments

Center for Economic Investment

In 2006, then Mayor Michael Bloomberg announced that the newly created Center for Economic Opportunity (CEO) would oversee a new $150 million per year initiative to fund more than 30 City anti-poverty programs recommended by the Commission for Economic Opportunity. Included in this effort are programs to help low income individuals build assets, increasing education opportunities for at risk adults, and creating employment opportunities for disengaged young adults.  Since its inception, CEO has launched over 60 anti-poverty programs credited with serving more than 500,000 people. Read more about Center for Economic Investment...

Co-op Development Fund

To support the expansion of worker cooperatives throughout the City, the New York City Council created a $1.2 million fund, representing the largest investment a U.S. Read more about Co-op Development Fund...

New York City Comptroller, "Economically targeted investments"

In 2003, the New York City Comptroller's office made new economically targeted investments (ETI) or financial commitments of city worker pensions totaling $234.5 million and has increased its investments since that period. Since the ETI program began, close to $2 billion has been invested in New York City’s five boroughs. Read more about New York City Comptroller, "Economically targeted investments"...

Social Enterprise

Colors

Located in lower Manhattan and started by former workers of a World Trade Center restaurant in 2006, COLORS is a nonprofit-owned social enterprise, run by the Restaurant Opportunities Center which provides living wage jobs and professional development training for workers, while serving customers healthy gluten-free food. Read more about Colors...

Housing Works

Housing Works aims to end the dual crises of homelessness and AIDS through advocacy, service provision, and entrepreneurial businesses that sustain its efforts. Since its establishment in 1990, it has housed and/or provided services to over 20,000 people. Its job training and placement program which uses social enterprises including supportive housing apartment rentals, a bookstore and a thrift shop to underwrite the group's programs and help clients achieve self-sufficiency, earned about 40 percent of its revenues (more than $22 million) from its businesses in 2013. Read more about Housing Works...

University & Community Partnerships

Columbia University’s Office of School and Community Partnerships at Teachers College

Started in 2007, Columbia University’s Office of School and Community Partnerships (OSCP) at Teachers College (TC) is focused on creating networks and leveraging opportunities that best utilize the college's expertise and resources to benefit underserved youth in the city. The Office has partnerships with 32 public elementary, middle and high schools that serve students most at risk of dropping out and under-achieving, and in the last year alone, coordinated 19 programs that reached more than 15,000 students. Read more about Columbia University’s Office of School and Community Partnerships at Teachers College...

CUNY Institute for Health Equity

Drawing on its wealth of academic resources, public health expertise, strong community relations and location across the city, CUNY Institute for Health Equity was established to address the health inequities among the city's low-income residents and racial/ethnic populations. The Institute will strive to identify and respond to the social conditions that generate these disparities and provide technical support to its community partners so that they can better serve their communities. Read more about CUNY Institute for Health Equity...

Program Related Investments

Common Ground Community

Working to develop supportive housing and implement other research-based practices that end homelessness, Common Ground has developed more than 3,200 units of permanent and transitional housing in New York City, upstate New York, and Connecticut. A recipient of a $2,000,000 PRI to support preservation of affordable rental housing in 2007 from The John D. and Catherine T. MacArthur Foundation, Common Ground is working to create an additional 4,000 units of housing for the homeless by 2015. Read more about Common Ground Community...

Cooperatives (Co-ops)

Flatbush Food Co-op

Established in 1976, the Flatbush Food Co-op is a full-service natural foods store specializing in organic products. Located in the heart of Victorian Flatbush since 1985, in one of Brooklyn's most diverse neighborhoods, the Co-op has nearly 3,000 members and many more shoppers. Read more about Flatbush Food Co-op...

Park Slope Food Co-op

The Park Slope Food Coop, located in the Park Slope section of Brooklyn, was founded in 1973 by a small group of committed neighbors. Today the co-op has more than 15,500 members. Unlike many co-ops where paying a fee is sufficient to become a member, members at Park Slope must commit to doing a workshift (there are some exceptions to this work policy for hardship cases) every four weeks in exchange for a 20-40% savings on groceries. The co-op estimates that this form of work exchange means that members do 75% of all co-op labor. Read more about Park Slope Food Co-op...

The Film-Makers' Cooperative

As the largest archive and distributor of independent and avant-garde films in the world, the Film-Makers' Cooperative was formed in 1962 to help independently working filmmakers with the financing, promotion, and distribution of their films. Anyone can join by paying the annual membership fee and by submitting a film or video, to which the person retains all ownership rights and pricing power. To date, the Co-op has more than 5,000 films, videotapes, and DVDs in its collection. Read more about The Film-Makers' Cooperative...

Anchor Institutions

Fund for the City of New York

Established by the Ford Foundation in 1968, the Fund for the City of New York seeks to improve the quality of life of all New Yorkers by focusing on improving the functioning of government and nonprofit organizations. Through its Cash Flow Program, the Fund provides bridge financing to nonprofits waiting for committed funds from government and foundations, loaning about $20 million each year to almost 400 organizations and $250 million since 1976. Read more about Fund for the City of New York...

New York Community Trust

Established in 1924, the New York Community Trust is one of the oldest community foundations in the nation.  As of 2013, it had $2.5 billion in total assets and managed over 2,000 funds. In 1980, the foundation incubated a CDFI, the Nonprofit Finance Fund (at the time known as the Energy Conservation Fund), which has loaned over $287 million to nonprofits and social enterprises around the country. Read more about New York Community Trust...

New York Foundation

Founded with a gift of $1 million from Alfred M. Heinsheimer in 1909, the New York Foundation is one of the oldest foundations in the country and focused on providing resources and early support to organizations seeking to improve life in the city. In 2012, the Foundation awarded more than $3.4 million in grants to a range of nonprofits focused on advocacy, community organizing, community development, and direct service. Read more about New York Foundation...

The New York Women's Foundation

Through partnerships that leverage human and financial capital, the New York Women's Foundation strives to improve the long-term economic security of low-income women and girls by focusing on five areas: community organizing and advocacy, economic security and justice, health and sexual rights, positive development of girls and young women, and safety. In 2014, the foundation plans to award $5.5 million to 80 organizations through a participatory grant-making process that includes community leaders. Read more about The New York Women's Foundation...

New State & Local Policies

Good Jobs New York

Good Jobs New York, a joint project of Good Jobs First and the Fiscal Policy Institute, serves as a clearinghouse of information about the costs and other key aspects of the largest New York City retention deals of the last decade. Besides investigating these deals, it provides information about accountability measures in use elsewhere, and other ways public resources can be used to strengthen the economy. In May 2005, advocacy efforts linked to its research led New York City to approve a corporate subsidy disclosure law. Read more about Good Jobs New York...

Harlem Children's Zone

Providing free services and resources to children from before birth through college, Harlem Children's Zone is a community-based organization focused on breaking the cycle of generational poverty in Harlem. Read more about Harlem Children's Zone...

Make the Road New York

Formed in 2007 by the merger of Make the Road by Walking and the Latin American Integration Center, Make the Road New York is a grassroots organization dedicated to addressing issues of inequality and economic injustice through community and electoral organizing, strategic policy advocacy, leadership development, youth and adult education, and high quality legal and support services. Read more about Make the Road New York...

Green Economy

Green Worker Cooperatives

Green Worker Cooperatives is a South Bronx-based organization dedicated to incubating worker-owned green businesses in order to build a strong local economy rooted in democracy and environmental justice.  To do so, it runs the “Co-op Academy,” a 5-month long training and support program that helps teams of entrepreneurs develop worker-owned green businesses. Read more about Green Worker Cooperatives...

Sustainable South Bronx

Founded in 2001 by South Bronx resident Majora Carter, Sustainable South Bronx promotes innovative, economically sustainable projects that are informed by community needs. This work includes “green roof” installation and maintenance, as well as its Bronx Environmental Stewardship Training program, a ten-week green collar job training and placement program with an 85-percent job placement success rate that has graduated more than 400 New Yorkers since 2003. Read more about Sustainable South Bronx...

Individual Wealth Preservation

NYC Department of Consumer Affairs Office of Financial Empowerment

The Office of Financial Empowerment (OFE) is the first municipal office of its kind in the nation. Its mission is to educate, empower, and protect low income New Yorkers. Read more about NYC Department of Consumer Affairs Office of Financial Empowerment ...

Municipal Enterprise

Port Authority of New York & New Jersey

The Port Authority of New York & New Jersey was formed in 1921 as the first bi-state agency in the nation, in order to develop important transportation links between the two states. With jurisdiction over the Port District - a region within a radius of approximately 25 miles of the Statue of Liberty - the Port Authority is responsible for developing: the George Washington Bridge; the Outerbridge Crossing; the Goethals and the Bayonne bridges; the Lincoln Tunnel; upgrading and managing the Newark, LaGuardia, and John F. Read more about Port Authority of New York & New Jersey...

Cross-Sectoral

Structured Employment Economic Development Corporation (Seedco)

Headquartered in New York and operating in 16 states across the county, Seedco strives to create better access to good paying jobs for low-income individuals in order to enable them to achieve financial stability and mobility. Since 2005, Seedco has helped more than 51,000 working individuals and families to access $71 million in work supports and government benefits and has provide counseling services for over 14,000 families threatened by foreclosure. Read more about Structured Employment Economic Development Corporation (Seedco)...