Over the past 5 years, Fox Advancement has been building our experience in activating both philanthropic dollars and public funding to benefit our capital campaign clients. Public funding is issued through government channels, often through taxes, and is used to help the public through goods and services. The funds are gathered and distributed through federal, state, and local levels.
This month Fox Advancement is formally launching our public funding offerings. Fox Advancement has significant experience partnering with nonprofits to secure the public funding they need to complete capital and capacity-building projects. These funds include tax incremental financing (TIF), tax credits, incentive and rebate programs, legislative approaches, and other public financing channels that are managed by government or regulatory agencies.
We offer a customized approach that recognizes the unique needs of each project, whether your nonprofit is constructing a new building, visioning a housing development or workforce center, or developing a major infrastructure project. Our firm specializes in an array of public funding channels in order to move your projects forward with the greatest return on investment.
Below are highlights from several nonprofit partners who have retained Fox Advancement to leverage not only private and philanthropic grants and gifts, but also public funding to propel their capital campaigns and achieve their organizational goals.
- In 2017, Fox Advancement began working with an emergency shelter and transitional living program that resulted in visioning a new supportive housing residence with culturally specific wrap-around services. This was a joint venture with a local housing developer. The project included Low Income Housing Tax Credits (LIHTC), regional metropolitan and municipal funding, Federal Home Loan Bank, and federal funding for capacity building.
- In 2019, our team began a partnership with a longstanding community nonprofit to plan and fundraise for a new community food site that was consolidating its food shelves and food delivery operations in order to serve an additional 10,000 individuals annually. To date, this project has secured Community Development Block Grant-Covid (CDBG-CV) funds and Livable Communities Demonstration Account (LCDA) funding.
- Our public funding team worked with Turtle Mountain Band of Ojibwe to secure New Markets Tax Credits (NMTC) as well as USDA Rural Development funding for their new Recovery Center- a culturally centered inpatient residential and Intensive Outpatient Program (IOP) with recovery housing on the campus. This project breaks ground in spring 2022.
- Southern Anoka Community Assistance (SACA) is partnering with Fox Advancement to build a new food shelf and thrift store adjacent to a new affordable housing development. The project is accessing Tax-Exempt Bank Qualified (TEBQ) financing through a municipal partner.
- Fox Advancement has been working with The Native American Community Clinic in the planning and fundraising for a new culturally focused health center and housing campus that includes a mix of New Markets Tax Credits (NMTC), State funding from Legislative appropriation, and government funds for capacity building to support expanded medical, dental, behavioral, chemical health, and housing supports.
It is an honor to walk alongside our nonprofit partners as well as regional housing and economic development entities, developers, lobbyists, and environmental agencies as we plan, develop, and raise capital for these important projects that build even more resilience among the communities they serve.
For more information, please visit the Fox Advancement website