Mapping Our Community: Philanthropic Grant Funding for Community and Economic Development in the Third District

Kyle DeMaria

Cascade, 2016, vol. 4

Abstract: Along with public sources of funding, philanthropic capital can be a critical source of support for the community and economic development (CED) work of nonprofit organizations. Research by the Federal Reserve Banks of Philadelphia and Atlanta examined CED grants disbursed to recipients in U.S. metro areas between 2008 and 2013, and identified characteristics that help to explain the ability of certain metro areas to attract more philanthropic funding than others. The authors examined grants for more traditional CED projects (e.g., housing rehabilitation, urban development, financial counseling, entrepreneurship), but also included a subset of grants for education, human services, health, and other projects consistent with the authors? definition of CED as actions that \\"improve the economic situation of local residents and local businesses... and enhance the community's quality of life as a whole.\\" Illustrating findings for metro areas located primarily in the Third Federal Reserve District, the map shows substantial variation in philanthropic support for CED activities ranging from $0.18 per capita in Williamsport, PA, to $54.33 per capita in Trenton?Ewing, NJ. Lebanon, PA, and Williamsport, PA, received the lowest per capita grant volume of the metro areas in the region, ranking eighth and third lowest amongst all metro areas in the nation, respectively.

Keywords: economic development; community development; grant funding; philanthropy (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedpca:0064

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