The Federal Home Loan Bank of Dallas (FHLB Dallas) and Stellar Bank have announced the awarding of $85,000 in grants to three nonprofit organizations in Houston. These grants, provided through the Partnership Grant Program (PGP), are intended to empower local nonprofits to strengthen their communities through targeted support and collaboration.
The three beneficiaries of this year’s grants include:
- Community Development Corporation of Freedmen’s Town: Awarded $30,000, this organization focuses on preserving and revitalizing Freedmen’s Town, a historically significant area in Houston established by freed slaves. The funding will assist with initiatives aimed at maintaining the cultural heritage and improving infrastructure within the community.
- Houston Real Estate Association CDC (HREACDC): Also receiving $30,000, HREACDC works to expand access to affordable housing and promote sustainable homeownership for underserved populations in Houston. The grant will support programs aimed at increasing housing opportunities and financial literacy.
- Credit Coalition: Awarded $25,000, this organization is dedicated to improving financial literacy and providing credit counseling services to low-income individuals and families. The grant will be used to enhance educational programs and outreach efforts.
Partnership Grant Program Overview
The PGP is a unique initiative designed to foster collaboration between FHLB Dallas member institutions and nonprofit organizations. Under the program, member institutions contribute between $500 and $5,000 to a nonprofit, and FHLB Dallas matches these contributions at a 5:1 ratio. This matching mechanism enables nonprofits to receive up to $25,000 in funding per member institution.
The program not only provides much-needed financial resources but also encourages stronger partnerships between financial institutions and community organizations. By leveraging local expertise and connections, the PGP facilitates impactful, community-driven solutions to address pressing needs.
Broader Impact
This year, FHLB Dallas has awarded over $1.2 million in PGP funding to 47 community-based organizations through 41 member institutions. These grants are being used to address a wide range of issues, from affordable housing and financial education to workforce development and community revitalization.
The success of the program highlights the importance of collaboration in creating sustainable, positive change. By bringing together financial institutions and nonprofits, the PGP enables organizations to amplify their impact and reach more individuals in need.
Strengthening Communities
For the Houston-based nonprofits receiving this year’s grants, the funding represents an opportunity to expand their programs and deepen their community impact.
- The Community Development Corporation of Freedmen’s Town plans to use its grant to further its mission of preserving the historic neighborhood. The organization works tirelessly to maintain the cultural and architectural integrity of Freedmen’s Town while supporting economic development and providing resources to residents.
- The Houston Real Estate Association CDC aims to address the pressing issue of affordable housing in Houston, where rising property values and economic disparities have created significant challenges for low-income families. The grant will enable the organization to extend its outreach and educational programs, helping more individuals achieve the dream of homeownership.
- The Credit Coalition, which has a long history of empowering individuals through financial education, will use its grant to expand its credit counseling services. By teaching individuals how to manage their finances effectively, the organization helps families break cycles of poverty and build more secure futures.
A Commitment to Community
The collaboration between FHLB Dallas, Stellar Bank, and the recipient nonprofits underscores the commitment of all parties to strengthening communities through strategic investments. These grants demonstrate the power of partnership in addressing critical local needs and creating opportunities for growth and development.
By empowering nonprofits to carry out their missions more effectively, the PGP not only impacts individual lives but also contributes to the overall health and vibrancy of communities.
