A Look at Two Successful Community Development Efforts
Launching a Successful Community Development Initiative: Unit 4 – Project
Daniel Davis: As the Coming Up with the Money guide illustrates, community development finance has evolved and will continue to do so. What remains steadfast is the need for community engagement, leadership, collaboration, evaluation, and adaptability. These five principles have been woven throughout this guide and are important to focus on as you consider who should be involved with your initiative, how to plan for your initiative, and what the process should be to take an idea and make it reality.
Once you've brought people plus plan plus process together, using the suggested core principles, what do you have? A successful community development project that is poised to improve your community. You've heard how these principles come together through a few short videos of successful initiatives in the 8th Federal Reserve District. To learn more about community development finance and the Fed's role in community development, visit the web portal, FedCommunities.org. There, you'll find more than 500 community development resources and links to all 12 Federal Reserve Banks and the Board of Governors.
We'd also love to know more about the exciting work being done in your neighborhoods.
We invite you to connect with us at communitydevelopment@stls.frb.org. Share your stories of success and let us know how our community development staff at the St. Louis Fed and all across the nation can support your efforts to strengthen our communities and the larger economy as you work your way through the process of coming up with the money.
As we’ve seen throughout this guide, building strong communities and launching new initiatives takes, well, a village. Behind every successful community development project we see today likely stands a vast number of partnerships and layers of investments—both personal and financial—often from a number of community sources. Community organizations, funders, local and regional government, academics, philanthropists and more are working strategically and collaboratively to identify and meet the needs of their communities. What makes community development initiatives successful? Building the right team, including community stakeholders, leaders and collaborators.
Using evaluation and data to develop your funding plan. And remaining flexible and adaptable when your process is challenged.
Want inspiration? Check out the brief case studies that follow, where you’ll learn firsthand about two community development initiatives that are making a difference in their communities. We hope you’ll find each story and short video informative so you, too, will be inspired to come up with the money for your next project.
Community Collaboration Spurs KIPP: St. Louis
Learn more about KIPP: St. Louis, the role of business and community leaders in launching this initiative, and how it defines and measures success, in a brief video.
Memphis Organization Lifts Voices of Community
Watch an interview with Eric Robertson on the work of Community LIFT.
