December 2006 Newsletter

Giving Facts per Charity Navigator, www.charitynavigator.org

  1. A contribution to a qualified charity is deductible in the year in which it is paid. Putting the check in the mail to the charity constitutes payment. A contribution made on a credit card is deductible in the year it is charged to your credit card, even if payment to the credit card company is made in a later year. More>

Federal Reserve Chairman recognizes important work of CDFIs, such as SNEDA
2006 D.C. Event Featuring Keynote Remarks by Fed Chair BernankeFederal Reserve Chairman Ben Bernanke

Federal Reserve Chairman Ben Bernanke is praising the role that local organizations such as SNEDA play in opening economic opportunities to low-income and low-wealth people. 

In remarks at the Opportunity Finance Conference in Washington, D.C, Bernanke said:  “The Federal Reserve and the CDFI community share a common interest in increasing economic opportunity for all Americans.  CDFIs work with partners in both the public and private sectors to help unlock the economic potential of lower-income and underserved communities.” more>

Powerpoint overview of SNEDA more>

Merrill Lynch first to use new ratings tool to underwrite financing for underserved markets (per OpportunityFinance Network press release 10/31/2006)
Firm to Use CDFI Assessment And Rating System (CARS™) for Underwriting; Major Boost Seen for Community Development Financial Institutions

WASHINGTON, D.C.///October 31, 2006/// Merrill Lynch Community Development Company (MLCDC) will use a new ratings tool to place $93 million with community development financial institutions (CDFIs) and mission-related community development entities (CDE) across the U.S. more>

The Mann Hall Local Redevelopment Authority update (by JR Sloan) more>

Market Street Market (www.marketstreetmarket.com) As of December 2006, Market Street Market (MSM) will begin spawning vendors transitioning to brick and mortar storefronts on Market Street in Hillyard, Hillyard’s main street for shopping.  Five vendors from MSM have rented retail space next to Karenoia (5011 N. Market Street, 482-3433 and 216-4819) for the Thanksgiving/Christmas season. Please go and see them at Hillyard Variety/the Bell building (5009 N. Market Street). more>