Vermont Slauson Economic Development Corporation Awarded $500k Grant by Citi Foundation's Community Progress Makers Initiative to Advance Social and Economic Opportunity in South LA

Unrestricted grant will enableVSEDCto advocate for resources and opportunities for business owners and residents in South Los Angeles and beyond

News provided by

Vermont Slauson Economic Development Corporation

Feb 28, 2022, 17:23 ET

LOS ANGELES, Feb. 28, 2022 /PRNewswire/ -- Vermont Slauson Economic Development Corporation was selected by Citi Foundation as a recipient of the Community Progress Makers initiative, which supports visionary organizations across the U.S. that are working to connect low-income communities and communities of color to greater social and economic opportunity. As a Community Progress Maker, VSEDC will receive a multi-year, unrestricted grant of $500,000, and access to technical assistance and a supportive learning community from 2022 – 2023.

Through Citi Foundation's support, VSEDC will continue to deliver vital resources to the entrepreneurs and residents of South LA and beyond, through access to capital, business planning, technical assistance, economic development and more. VSEDC champions South Los Angeles' diverse population and expands opportunities for economic vitality among historically disinvested communities.

"VSEDC represents the heart and soul of the region. Throughout the past four decades, we have helped to realize the dreams of small business owners, mom-and-pop shops, young people with a dream, and first-time entrepreneurs," said VSEDC President & CEO, Joseph T. Rouzan, III. "As a Citi Foundation Community Progress Maker, we will continue our tradition of proudly serving the hard-working people of this community."

The newest cohort of Citi Foundation's Community Progress Makers includes 50 leading nonprofit organizations with a strong track record of supporting underserved communities across six U.S. cities: Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area and Washington, D.C. The Citi Foundation will provide a supportive learning community through which grantees connect to share best practices and strengthen their work as social change agents. Technical assistance will also be provided by the Urban Institute to help measure the cohort's impact and progress.

"Six years ago, the Citi Foundation launched Community Progress Makers with a vision of empowering community leaders to grow their transformative impact through unrestricted, trust-based funding," said Brandee McHale, Head of Community Investing and Development and President of the Citi Foundation. "This kind of approach and support is more important than ever as the U.S. continues to address the root causes and impacts of income and wealth inequality. Through the Community Progress Makers initiative, these social innovators and advocates can continue to look for new ways of addressing long-standing societal challenges at scale."

From 2015 to 2019, the Citi Foundation has provided $40 million in multi-year, unrestricted funding to 72 Community Progress Makers, helping to place over 45,000 people in affordable housing, train over 33,000 people for employment, save over $10 million in energy costs, and expand over 12,000 small businesses.

Below is a full list of 2021 Community Progress Makers.

Chicago
Elevate
Local Initiatives Support Corporation (LISC) Chicago
Proviso Leyden Council For Community Action, Inc.
Urban Growers Collective
Working Credit

Los Angeles
A Place Called Home
Central City Neighborhood Partners
CHIRLA
Clifford Beers Housing
Enterprise Community Partners
Little Tokyo Service Center
PARS Equality Center Los Angeles
Puente Learning Center
Vermont Slauson Economic Development Corporation

Miami
aire ventures
Community Justice Project
Health Foundation of South Florida
Miami Workers Center
Neighborhood Housing Services of South Florida
Solar and Energy Loan Fund, Inc. (SELF)
YWCA of Greater Miami Dade

New York City
America on Tech
Ariva, Inc
Bedford Stuyvesant Restoration Corporation
Bridge Street Development Corporation
Community League of the Heights
El Puente
Fifth Avenue Committee
Graham-Windham
Habitat for Humanity of New York City and Westchester County
Harlem Stage
Korean-American Community Foundation
Solar One
South Bronx Overall Economic Development Corporation (SoBro)
The Knowledge House
YMCA of Greater New York

San Francisco Bay Area
Centro Community Partners (Centro)
Chinatown Community Development Center
Community Housing Development Corporation
Homeless Children's Network
Juma Ventures
Old Skool Café
Richmond Neighborhood Housing Services
Rising Sun Center for Opportunity

Washington, D.C.
ACT for Alexandria, A Community Foundation
Coalition for Nonprofit Housing and Economic Development
Homefree USA
La Cocina VA
Tzedek DC
United Way or National Capital Area

About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities . The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.

For more information about Community Progress Makers, please visit: www.citifoundation.com/cpm

About the Vermont Slauson Local Development Corporation
The Vermont Slauson Local Development Corporation (VSLDC) is a community-based non-profit organization located in South Los Angeles. Established in 1979 as a citizen advisory committee by Mayor Tom Bradley and Marva Smith Battle-Bey in response to the South LA community's concern regarding the closing of a Sears Department Store, the organization began operations in 1981. For more information about Vermont Slauson Economic Development Corporation, please visit www.vsedc.org.

SOURCE Vermont Slauson Economic Development Corporation