To Our Members and Friends
For God is the one who provides seed for the farmer and then bread to eat. In the same way, he will provide and increase your resources and then produce a great harvest of generosity in you.
2 Cor. 10 (NLT)
The Apostle Paul wrote his second letter to the Corinthians around 55 AD.
In it, he instructs people to be generous in supporting the early, mostly impoverished followers of Jesus, asking that they cheerfully and willingly give a portion of what God has given them.
He notes that God is the one who gives – both the grain for the bread and the bread itself – so it is God who makes the giver capable of giving.
When we give out of love, the gift itself becomes a seed that spreads selflessness and humility.
While the Leviticus Fund doesn’t build houses, apartments, early learning centers or economic development projects, we provide the hard-to-obtain financing that gets these projects off the ground and helps complete them.
With the support of people like you, the Leviticus Fund continues to plant the seeds of justice and assist those who are vulnerable and often forgotten.
As we look back on 2022 and prepare to mark our 40th anniversary, we remain deeply grateful for the vision of our founders, whose faith set us on this path in 1983. We are grateful to our staff, who offer their time and talent to serve communities in need, and to our generous pro bono counsel, who donate their service in the public interest. We are grateful to our members, investors and donors, who provide the financial support for our work. And we are grateful to our borrower partners, who have allowed us to help them make a difference in people’s lives.
Thank you for cheerfully and willingly supporting our mission. We couldn’t do this important work without you.
Rosemary Jeffries, RSM
Cutting Ribbons, Breaking Ground
The Watchtower Society developed the building at 90 Sands Street (pictured on the cover) in Brooklyn’s DUMBO neighborhood in 1992 to provide a long-term residence for its volunteers and staff. At one time the building housed more than 1,000 people. In 2018, Breaking Ground acquired the then-vacant building with a plan to transform it into supportive and affordable housing. They completed construction and officially opened the building in the Fall of 2022.
Breaking Ground is a nonprofit that since its founding in 1990 has become New York State’s largest provider of permanent supportive housing for homeless and low-income people. This fall, we were delighted to attend the ribbon cutting at 90 Sands, which now provides 491 affordable and supportive apartments in Brooklyn’s DUMBO neighborhood.
The repurposing of this significant community asset sends a clear message to the individuals and families that live here now and will call it home in the future: You matter. You’re important and deserving. You’re worthy of the same dignity and care as everyone else.
The Leviticus Fund was pleased to help Breaking Ground cover architectural and engineering expenses for 90 Sands with a $1.5 million unsecured predevelopment loan, which can be hard to secure early in a project.
This was our first loan to this strong and highly respected nonprofit. We were happy to provide patient, flexible capital to help move this much-needed project from concept to reality.
Top Photo: Michael Priest Photography. Bottom Photo: Wes Tarca for Breaking Ground