MCCI was selected from a total of 630 applicants during a competitive review process and will receive $1M over 10 years.
Cummings Foundation, thank you so much!!!!!!
Mill Cities Community Investments (MCCI) is thrilled to share that we are one of 150 local nonprofits that will share in $30 million through Cummings Foundation’s major annual grants program. MCCI was selected from a total of 630 applicants during a competitive review process and will receive $1M over 10 years. We are extremely grateful and honored to have received this Cummings grant.
TheCummings $30 Million Grant Program primarily supports Massachusetts nonprofits that are based in and serve Middlesex, Essex, and Suffolk counties.
Through this place-based initiative, Cummings Foundation aims to give back in the areas where it owns commercial property. Its buildings are all managed, at no cost to the Foundation, by its affiliate, Cummings Properties. This Woburn-based commercial real estate firm leases and manages 11 million square feet of debt-free space, the majority of which exclusively benefits the Foundation.
“The way the local nonprofit sector perseveres, steps up, and pivots to meet the shifting needs of the community is most impressive,” said Cummings Foundation executive director Joyce Vyriotes. “We are incredibly grateful for these tireless efforts to support people in the community and to increase equity and access to opportunities.”
This year’s grant recipients represent a wide variety of causes, including housing and food insecurity, workforce development, immigrant services, social justice, education, and mental health services. The nonprofits are spread across 46 different cities and towns.
Cummings Foundation has now awarded $480 million to greater Boston nonprofits. The complete list of this year’s 150 grant winners, plus nearly 1,500 previous recipients, is available at www.CummingsFoundation.org.
Nectar Community Investments has welcomed Boston Ujima Project Executive Director Nia K. Evans as a new board member to be part of their organization. Evans’ role at the Boston Ujima Project focuses on bringing together neighbors, workers, business owners and investors in Greater Boston to build a community-controlled economy. According to Evans, the Boston Ujima Project has “made history as the nation’s first democratically governed investment fund.”
Read the article
Our Executive Director Glynn Lloyd joined more than 400 housing, business, and public-sector leaders at the Citizens’ Housing and Planning Association’s annual Housing Summit, where he moderated a panel about Massachusetts’ economic development potential as a hub for modular construction.
Read the article
Nectar Community Investments small business client New England Counseling and Wellness PLLC recently closed on its second financing with us, which helped owner Johelly Chalas hire two new therapists and one administrator for her growing business. The first loan supported Johelly as she launched this much-needed bilingual mental health care facility for the Lawrence community. We chatted with Johelly and Small Business Loan Officer Saul Peña about Nectar’s approach to the loan process and its benefits for Johelly and her team.
Saul, can you walk us through Nectar’s loan process?
Saul Peña: After Johelly applied, we had an initial consultation to get a feel for her business and what her current needs were. That’s how we start all our loans. We also do a quick assessment and review documents, such as a balance sheet and a personal financial statement, so we can let the potential client know within a week whether we’re moving forward with the application. If we don’t, we’ll refer the business owner to an ecosystem partner for technical assistance.
If we do move forward with the loan, I like to dig into the details with our client, understand their plans for the financing and how it will help their business. …
