The federal bank and thrift regulatory agencies have released the 2012 list of distressed or underserved nonmetropolitan middle-income geographies where revitalization or stabilization activities will receive Community Reinvestment Act (CRA) consideration as “community development.” For more information, visit www.federalreserve.gov/newsevents/press/bcreg/20120629a.htm.
This report reflects the responses of more than 500 nonprofit professionals who are most responsible for their organization’s overall financial management. It offers new insights on the resources that organizations use to manage their finances, identifies best practices in financial decision-making and provides suggestions for improving financial planning in the long term. Conducted by the Center on Philanthropy, in collaboration with The Moody’s Foundation, the study seeks to better understand nonprofits’ financial literacy and knowledge as well as the financial practices they currently adopt. Read the report at www.philanthropy.iupui.edu/research-by-category/financial-literacy-and-knowledge-in-the-nonprofit-sector.
Listen to conversations with people working to expand knowledge and improve lives in Arkansas, Louisiana and Mississippi. Each month, new interviews will elevate issues, share ideas and show examples of innovative work. To play the audio MP3 file of the first podcast or subscribe to the series, visit www.cyberears.com/index.php/Show/audio/6004.
Professor Tim Bates of Wayne State University discusses how to increase capital so minority companies can create jobs and expand their businesses. To view a transcript or play the audio MP3 file, visit www.frbatlanta.org/podcasts/transcripts/economicdevelopment/
The Center for Community Progress has launched a new web-based tool — the Building American Cities Toolkit. Developed by Community Progress Senior Fellow Alan Mallach, one of the nation’s leading experts and advocates in the legal and practical issues that communities confront in addressing abandoned property, this free resource helps users drill down to practical solutions for vacant and abandoned property. It tackles critical local challenges, from dealing with problem property owners and building stronger neighborhoods to reusing vacant properties and taking control of and managing problem properties. Users shift easily from global overviews of dynamics into proven local solutions that offer practical strategies tailored to communities’ unique local needs. Check out the toolkit at www.communityprogress.net.
This study attempts to complete the picture on immigrant entrepreneurship, providing a thorough look at the financial picture that would complement what we know about these business owners. Read the full report at www.sba.gov/sites/default/files/rs396tot.pdf.
The Federal Reserve has issued information regarding the management of OREO by institutions regulated by the Federal Reserve. “Questions and Answers for Federal Reserve-Regulated Institutions Related to the Management of Other Real Estate Owned (OREO)” is intended to clarify existing policies and promote prudent practices for the management of an institution’s OREO assets, addressing both safety and soundness policies and consumer compliance issues. For more information, go to www.federalreserve.gov/bankinforeg/srletters/sr1210.htm.
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FedCommunities.org is a portal to community development resources from all 12 Federal Reserve Banks and the Federal Reserve Board of Governors.