To Our Members and Friends
In 2018 we celebrated our 35th anniversary with a special gathering of Members, donors, grantors, investors, nonprofit partners, our pro bono attorneys, and friends of the organization. We recalled the courage and vision of our founders, and looked back on 35 years of support for nonprofits who serve poor communities and often forgotten people. Sr. Simone Campbell, Executive Director of NETWORK, challenged us to push for public policies that lift up those with less and treat them justly. We gave a special tribute to our pro bono attorneys for their deep generosity. It was a wonderful evening.
In addition to closing $9.9 million of new loans to our nonprofit partners, we committed a record high $14.7 million in new loans and made $12.5 million in loan disbursements. By year-end we helped create or preserve 1,112 homes for low- and moderate-income households over the last two years, surpassing our 2017-2019 three year strategic goal. We also supported the creation of educational space for 975 children in 2018, most from low-income families.
A highlight of the year was Leviticus’ receipt of two CDFI Fund awards: a $2.75 million grant from the Capital Magnet Fund (CMF) and a $1 million Financial Assistance grant. Leviticus used the CMF grant to launch the $12 million Project Start Fund (PSF), which is providing hard-to-come-by, short term loans to nonprofits in New York State to build or preserve housing units primarily for very and extremely low-income individuals and families.
We used a grant from the JPMorgan Chase Foundation to work with Kevin Dwarka, LLC to begin a comprehensive housing report focused on the southwest quadrant of Yonkers, NY, a higher poverty area of the city experiencing a housing boom along the river that is not creating new homes for those with lower incomes. A central goal of the study will be to provide Yonkers stakeholders and city government with tailored, pragmatic policy ideas to facilitate more equitable housing opportunities in the future.
Finally, we were thrilled to launch a redesigned website in 2018 that has a new structure, better functionality and graphics, and new content. We also created a new Leviticus logo.
Reflecting on 2018’s accomplishments also moves us to gratitude for the sacrifice and faith of our investors in supporting this organization so steadfastly. As pleased and thankful as we are about the Leviticus Fund’s past, we are equally excited about its future. We thank you for your deep and ongoing commitment to the success of this mission-focused endeavor.
Sincerely,
Greg Maher
Executive Director
Cathy Rowan
Board President
