Crain’s: How creative funding can help nonprofits start large, complex capital projects
July 10, 2023 The article discusses a novel approach to funding large, complex capital projects for nonprofits, specifically in the realm of supportive housing to combat homelessness. The Fortune Society and FJC, a Foundation of Philanthropic Funds, have initiated a revolving loan fund to provide necessary working capital for these projects. This creative financing model, which blends philanthropy with impact investing, enables nonprofits to expedite their supportive housing developments, demonstrating a significant potential for broader application across various sectors.