Organization Description and Mission
New Jersey Community Capital, a registered trade name utilized by Community Loan Fund of New Jersey, Inc. and its affiliates, facilitates the flow of money and knowledge to create wealth and well-being in communities.  In addition, New Jersey Community Capital also manages a real estate fund, New Markets Tax Credit fund, small business investment company, and a charter school fund.  Since its founding in 1987, New Jersey Community Capital has committed financing for approximately 500 projects totaling nearly $110 million in the housing, community services and small business sectors.

In light of its strong financial and technical assistance programs,  New Jersey Community Capital was awarded the 2003 CDFI Excellence Award for Community Impact by its national trade association. The award honors an organization that has demonstrated excellence in serving its community. It was recognized primarily for its results in the early care and education field, including both the provision of financial products and services and the development of meaningful consulting and training programs designed to improve the level of quality provided by early care centers.

NJCC’s holdings include the following:

• New Jersey Community Loan Fund, a nonprofit community development financial institution providing capital to the housing, community services, and business sectors;
• Managed Assets, a division managing pools of capital for affordable housing, early care, economic development and small businesses;
• Community Consulting Group, a consulting unit providing an array of products, services and trainings to advocates and service providers, as well as conducting research and development to measure the organization’s social return on investment;
• Lending Partners, a nonprofit community development lending intermediary providing loans to community and economic development projects, including housing, facilities, and commercial real estate;
• Equity Partners, the general partner in New Jersey Community Capital’s New Markets Tax Credits Fund;
  

Community and Population Served by the Organization

NJCC provides financial and technical assistance to low-income individuals and communities, as well as to organizations serving low-income individuals and communities, throughout the state of New Jersey.

Research Questions

• New Jersey Community Capital is interested in research about communities adjacent to distressed communities in NJ. Examples of these communities include, but are not limited to, Montclair, Hightstown, Millville, and outside of Camden (Willingboro).  New Jersey Community Capital would like students to research these communities, looking at their background, demographics, housing situations, businesses, education, and needs, and who might be available to address those needs. Students could also help write technical assistance briefs relevant to those communities. Where is the sphere of influence in these communities?  New Jersey Community Capital would like to build a sphere of influence, get to know the community, and develop a presence.
  

• The current trend of mergers and takeovers by large corporations, particularly financial institutions, is leading to a decrease in available funding for non-profit organizations. As these large organizations become regionally- and nationally-based, the decision-makers who determine which organizations will receive funding are often in a different state from the organizations seeking funding and have little understanding of community needs. New Jersey Community Capital would like students to research potential earned income strategies for community development financial institutions and other nonprofit organizations.  How can New Jersey Community Capital and other organizations facing similar challenges develop ways in which to increase revenues while continuing to fulfill their mission?  What are some examples of successful social enterprises, how were they developed, and what factors contribute to their success? 

• New Jersey Community Capital would like to develop meaningful ways to assess its economic impact on the individuals, communities, and community-based organizations that it serves. What are some useful financial metrics? Using the audits of borrowers who are leaders in their industries (such as housing, child care, etc.), students would examine the financial information of the borrowers and select data points for comparison. Data could include factors such as debt coverage ratios. What do the comparisons suggest about the borrowers? Are there predictive patterns in the data with implications for loan performance? How do similar organizations in the sector who have not borrowed from New Jersey Community Capital compare?

• Often, community organizations and small nonprofits experience difficulty in securing general operating support for their organizations. While funders often provide programmatic support, important aspects of general maintenance and equipment upgrades are often difficult to fund. New Jersey Community Capital would like students to research innovative ways in which community organizations can secure funding to invest in the maintenance and development of their facilities. What techniques are already being used by organizations across New Jersey to address this issue, and what new techniques might be adopted?

• New Jersey Community Capital also serves minority-owned businesses. They would like a student to look at the borrowing profiles of these businesses and see if there are any unmet needs. What can New Jersey Community Capital do to meet these needs?

• With the use of statistical data available from New Jersey Community Capital, students could also use Geographic Information System (GIS) mapping to visually represent the impact of New Jersey Community Capital on the communities it has historically served, and also to locate communities that could be served by New Jersey Community Capital. This project could include mapping areas currently served by New Jersey Community Capital or mapping traditional financial institutions located in historically underserved neighborhoods that could utilize New Jersey Community Capital products and services. Such maps could aid New Jersey Community Capital in assessing its impact on underserved neighborhoods and developing appropriate products, services, and strategies for emerging markets.

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