Ncrc Community Development Fund

About Ncrc Community Development Fund

Ncrc Community Development Fund Inc. stands out for pairing small-business capital with housing finance and counseling, all tied to efforts to bridge the racial wealth gap and expand opportunity in underserved communities. The 2024 grant record shows a large share of activity in Illinois, including a series of substantial coronavirus recovery awards for hotels and related businesses, alongside separate support for women- and minority-owned small businesses. That mix of emergency relief and longer-term community development runs through the foundation’s programs. The funder also works through structured initiatives rather than a single grantmaking channel. Its Field Empowerment Fund supports member organizations serving low- and moderate-income communities, and its housing-counseling track directs resources to HUD-approved agencies in targeted bank footprints. On the capital side, the foundation’s loans and financial services are part of a broader community development finance model, not just a traditional grant-only approach. The recent record includes a $500,000 award to National Community Reinvestment Coalition Inc., showing the organization’s close link to the national community development field.

What Ncrc Community Development Fund Funds

One clear theme is business stabilization. In 2024, Ncrc Community Development Fund Inc. gave $1,769,933 to Kato Kagaku Co Ltd Dba Hyatt Regency Chicago and $1,429,360 to Thor Palmer House Hotel LLC Dba the Palmer House Hilton by and Through Hlt, both under Illinois Coronavirus Fiscal Recovery Funds for businesses affected by COVID-19. A second area is direct support for women- and minority-owned enterprises. The foundation made a $500,000 grant to National Community Reinvestment Coalition Inc. for support for women and minority owned small businesses, linking its grantmaking to equity-targeted entrepreneurship. Housing counseling is another recurring priority. Through its Field Empowerment Fund housing counseling services track, the foundation supports HUD-approved agencies that provide homeownership counseling, heirs’ property education, housing stability, and capacity building in eligible bank footprints. Its broader focus list also includes affordable homeownership, housing counseling services, community development finance, and racial wealth gap reduction.

How Ncrc Community Development Fund Gives