For Release: February 5, 2008
Contact: Kate Barr, Executive Director
Phone: 612.278.7182
Fax: 612.278.7181
Email: kbarr@nonprofitsassistancefund.org
Web: www.nonprofitsassistancefund.org

Minneapolis, MN - Nonprofits Assistance Fund has received a commitment of $1 million from the U.S. Bancorp Community Development Corporation (U.S. Bancorp CDC), and $250,000 from the Otto Bremer Foundation. The funds are a capital investment in Nonprofits Assistance Fund and will be used to provide a variety of loans to nonprofit organizations.

Kate Barr, Executive Director of Nonprofits Assistance Fund, commented, "U.S. Bancorp CDC's investment of one million dollars is significant and greatly enhances our capacity to fulfill our mission. This is the second time that the U.S. Bancorp CDC has provided long-term capital for the Nonprofits Assistance Fund loan funds and illustrates their commitment to Minnesota communities and support of the nonprofit sector."

The Otto Bremer Foundation is a long-time supporter of Nonprofits Assistance Fund, with both capital for the loan fund and grants for nonprofit financial management training programs. Together, these investments represent a 10% increase in the capital available for Nonprofits Assistance Fund to lend over the next five years.

Barr adds, "Thanks to the support of partners like U.S. Bancorp and the Otto Bremer Foundation, we are able to expand our financing for the growth and stabilization of Minnesota nonprofit organizations. In real terms, these investments will allow us to provide nonprofits with financing that will result in services to 1,000 charter school students, 10,000 patients at community-based clinics, 5,000 social services clients, 8,000 theater audience members, and 25 units of affordable housing."

This impact is possible because of Nonprofits Assistance Fund's experience and track record. Nonprofits Assistance Fund is a nonprofit community development organization that fosters vitality by building financially healthy nonprofits. For over 25 years, Nonprofits Assistance Fund has provided financing for working capital, cash flow, equipment and facilities projects that helps nonprofits stabilize and transform. They also offer skill building workshops and strategic financial counsel to promote healthy financial practices and improve nonprofits' capacity to carry out their mission.