About Ncrc Community Development Fund
Provide loans, technical assistance and financial services to small businesses and community organizations to bridge the racial wealth gap, expand access to affordable homeownership, and promote economic opportunity in underserved communities.
Focus Areas
small business capitalaffordable homeownershiphousing counseling servicescommunity development financeracial wealth gap reductiontechnical assistance and traininggrant programs (Field Empowerment Fund)
Who They Fund
women-owned small businessesminority-owned small businessesIllinois-based small businessesunderserved/priority entrepreneurs
Funding Style
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
Typical grant size clusters around a median of $43,552, with a lower quartile of $15,000 and an upper quartile of $50,000. That distribution points to generally modest awards, even though the recent record also includes much larger program-related disbursements tied to state recovery funding. The foundation is a regular funder, not a DAF, and it does not fund individuals. Its programs show both open and targeted grantmaking. Some opportunities accept unsolicited applications, including Illinois Back to Business and the Field Empowerment Fund, while others are invitation-based or tied to partner footprints. The record also suggests repetition in program design rather than one-off giving: active and past grant programs recur around housing counseling, microbusiness capital, and small-business stabilization.
Financial Snapshot
Annual Giving
$149.3M
Total Assets
$67.3M
Total Revenue
$164.7M
Total Expenses
$164.1M
Typical Grant Size
Most grants fall between $15K and $50K, with a median of $44K.
25th Percentile
$15K
Median
$44K
75th Percentile
$50K
Geographic Reach
National30 states funded
About 0% of grants go to recipients in IL.
Funding intensity
LowHigh
Headquarters
Leadership
JESSE VAN TOL
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