Category: Industry News

Still Time to Ask Your Senators to Weigh In on Tax Reform and Support the NMTC, LIHTC, and HTC

Still Time to Ask Your Senators to Weigh In on Tax Reform and Support the NMTC, LIHTC, and HTC

Earlier this month, Senators Max Baucus (D-MT) and Orrin Hatch (R-UT), the Chairman and Ranking Member of the Senate Finance Committee, wrote to their Senate colleagues asking for comments and feedback on tax reform. In the letter, Senators Baucus and Hatch describe the “blank slate” approach they will take in reforming the tax code and…

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Investors’ Circle Members move $1M in 1 Month

Investors’ Circle Members move $1M in 1 Month

Following Investors’ Circle’s Spring Venture Fair, IC members made a record-breaking $1MM in investments in the last month!  IC is proud to announce investments in the following companies: California Safe Soil, DR2, Indow Windows, and SunFunder.  These investments bring Investors’ Circle’s 2013 year-to-date investment total to $4MM! Registration is open for IC’s FIRST Beyond The…

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Bridges Community Ventures Has Big News

Bridges Community Ventures Has Big News

The Gym – A UK Dynamo CDVCA Member Fund Bridges Ventures sold its majority stake in The Gym, a milestone deal for Bridges and its fourth successful realization in just over 12 months, following the exits of The Hoxton (9x multiple), Pure Washrooms (3.4x) and Whelan Refining (4.7x). The Gym – incubated by Bridges from concept…

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Call on Your Senators to Support Tax Reform and the NMTC by July 26th

Call on Your Senators to Support Tax Reform and the NMTC by July 26th

Earlier this month, Senators Max Baucus (D-MT) and Orrin Hatch (R-UT), the Chairman and Ranking Member of the Senate Finance Committee, wrote to their Senate colleagues asking for comments and feedback on tax reform. In the letter, Senators Baucus and Hatch describe the “blank slate” approach they will take in reforming the tax code and…

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House Appropriation Committee Approves $221 Million for CDFI Fund

House Appropriation Committee Approves $221 Million for CDFI Fund

The House Appropriations Committee met today to mark-up the FY 2014 Financial Services and General Government Appropriations Bill. The bill approved by the Appropriations Committee includes $221 million for the CDFI Fund, which while $3.9 million less than requested in the President’s budget would allow the CDFI Fund to operate at its FY 2013 pre-sequester…

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CDFI Recertification Update

CDFI Recertification Update

The CDFI Coalition sent a letter to the CDFI Fund regarding the certification/recertification process on March 21, 2013. The Coalition requested that the CDFI Fund take steps to ensure that no CDFI was de-certified without notice of potential deficiencies in their recertification applications and an opportunity to cure deficiencies. As stated in our letter, which…

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SJF Ventures Raises its Third Fund with $90 Million

SJF Ventures Raises its Third Fund with $90 Million

SJF Ventures conducted the final closing on its third fund with more than $90MM in capital commitments, tripling the size of the previous $28MM second fund. The target for SJF Ventures III was $75MM and the fund was substantially oversubscribed at its final April closing. “We are honored that so many investors choose to join our partnership,” said…

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State Budgets Overcome Deficits through Major Cuts, But Have No Plans for Reinvestment?

State Budgets Overcome Deficits through Major Cuts, But Have No Plans for Reinvestment?

A National Public Radio Broadcast by Greg Allen highlights the bait-and-switch technique of massive budget cuts used only for further tax cuts (Michigan, Ohio), though some states (e.g. Florida) with upcoming gubernatorial elections plan politically strategic investments. Paul Beck, a professor emeritus of political science at Ohio State University, says that meant less money for…

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Nineteen Senators Request $225M Appropriation for CDFI Fund FY ’14

Nineteen Senators Request $225M Appropriation for CDFI Fund FY ’14

Senator Robert Menendez (D-NJ) and eighteen of his Senate colleagues signed a letter to the Senate Financial Services and General Government Appropriations Committee today asking that $224.9 be provided for the CDFI Fund in the Fiscal 2014 Appropriations bill. The letter was submitted to the Appropriations Committee today with the following Senators signed on: Menendez…

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Community Development Investment Review Highlights New Social Impact Bonds – “Pay for Success”

Community Development Investment Review Highlights New Social Impact Bonds – “Pay for Success”

Social Impact Bonds (Pay for Success) offer an attractive alternative to the status quo of paying for programs instead of results. Despite our best efforts, the poverty rate today is roughly what it was when the War on Poverty began in 1964. We are winning important battles but losing the war. A new social policy paradigm…

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