CSDC named Finalist for Wachovia Wells Fargo NEXT Award for Opportunity Finance
(Hanover, MD, October 18, 2011) The Charter Schools Development Corporation (CSDC) has been named a finalist for a $25,000 grant award to Community Development Financial Institutions (CDFIs) that have demonstrated excellence in financing, according to the Opportunity Finance Network (OFN), the nation’s leading network of high-performance CDFIs. The Wachovia Wells Fargo NEXT Awards for Opportunity Finance is the nation’s largest and most prestigious awards program for responsible finance. It’s managed by OFN in partnership with the Wachovia Wells Fargo Foundation and the MacArthur Foundation. Winners will be announced at the Opportunity Finance Network Conference on November 15th in Minneapolis.
The aim of the Wachovia Wells Fargo Next Awards for Opportunity Finance is to propel CDFIs to a next level of growth, success and staying power so they have even greater capacity to innovate and deliver tangible benefits to their communities. “The NEXT Awards celebrate CDFIs that produce tangible impacts in the communities they serve,” explained Mark Pinsky, President and CEO of OFN. “The 2011 finalists each have demonstrated a commitment to improving the lives of families and individuals through their NEXT-level initiatives that finance housing, community facilities, and small business projects in low-income areas.” More information about the NEXT Awards is available at www.nextawards.org.
CSDC, the only CDFI focused exclusively on the financial and facility needs of charter schools nationwide, is being recognized for developing innovative and replicable models to provide charter school organizations with affordable capital in difficult economic times. CSDC is a “market maker” and its cutting edge collaborations to provide direct financing to public charter schools are setting industry precedents just as its nationally recognized credit enhancement program, the Building Block Fund, has done for charter school facility needs over the past decade. CSDC became a member of OFN to broaden its outreach and visibility to the CDFI community and potential investors and funders, and to engage in public policy impacting community economic development and the charter school sector.
CSDC promotes more competition and choice, and increased innovation and excellence, in K-12 education by assisting charter schools with their financing and facility needs. As a nonprofit lender and developer, CSDC, and its affiliate CSDC Property Corporation, help charter school entrepreneurs finance, build, expand and replicate great public charter schools. CSDC offers high performing charter schools credit enhancements to secure loans and leases through the Building Block Fund and innovative loan products through CSDC Direct. CSDC Property Corporation, the leading nonprofit developer of charter school facilities in the country, builds-to-suit facilities, either for lease with option-to-purchase, or on an outsourced, fee for development services basis, through the Turnkey Development Program.
For more information on CSDC’s selection as a finalist for the NEXT Award in the Financing Category, please contact Michelle Liberati at (443) 561-1280. For more information on CSDC and its programs and services visit www.csdc.org.