October 8, 2018

Nonprofit Notebook —October 8, 2018

The Hartford Foundation for Public Giving has launched a new investment arm that will include collaborative investments in companies, organizations and funds that officials say will expand the regional community chest's support of affordable housing and economic development.

The foundation announced it invested $4 million into HFPG Impact LLC, a subsidiary the Hartford Foundation will use to increase investments within its 29-municipality footprint.

The new arm represents a pivot in the foundation's strategy under a relatively new leader, Jay Williams, who was named president in July 2017.

The foundation has traditionally focused on funding nonprofits or school districts in north central Connecticut.

Billed as "HFPG Impact! Greater Hartford," the initiative will invest in companies and organizations with projects aimed at supporting affordable housing, economic development and creating additional access to capital for business and entrepreneurship growth for underserved residents.

Two Hartford nonprofits devoted to sheltering and serving homeless and needy people and families in the Greater Hartford region have merged to form Community Housing Advocates (CHA) Inc.

My Sisters' Place Inc. and Mercy Housing and Shelter Corp. recently announced their "proactive step'' in combining two fiscally healthy organizations into a single one.

Mercy Housing Executive Director Judith Gough is now CHA's CEO. Kathleen Shaw, formerly vice president of program and operations for My Sisters' Place, is CHA's chief operating officer.

Despite the merger, CHA said individual facilities, programs and services will continue to be operated as affiliates under the current and respective names of My Sisters' Place and Mercy Housing and Shelter. Both organizations will also maintain their own separate tax identities and 501(c)(3) status.

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