As the world of finance continues to sputter, another area that is experiencing the “hurry up and wait” feeling is funding for not-for-profit projects. A reader sent a story/link to the Center For Civil Society Studies at the Johns Hopkins Institute for Policy Studies that examines stalled projects from non-profits that contribute infrastructure services to the general public and what types of projects are waiting for access to capital and funding from banks and institutional investors. The sampling showed that senior and elderly housing were the third most prevalent type of project behind museums and community/economic development (very broad term). Without more movement in the capital markets and solutions for making tax credits a viable capital strategy again, many more non-profits may have big dreams but little ammunition to make them a reality.
As a follow up to the article, the Center chose to profile Presbyterian Villages of Michigan (PVM) as a case study on how the group has accessed capital in the past and how its managing its way through the current environment as a non-profit provider. The profile presents a realistic yet optimistic picture of PVM’s current situation and does not deny that it faces challenges with the current economic environment. For the profile on Presbyterian Villages of Michigan (PVM), click here.
For the full article on shovel ready projects, click here.