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NEW MEXICO ORGANIZATIONS RECEIVE FUNDING TO HELP CHILDREN IN POVERTY
Albuquerque, N.M. (June 12, 2009) – The W. K. Kellogg Foundation has awarded $100,000 each to ACCION New Mexico • Arizona • Colorado (ACCION), Community Action New Mexico (CANM) and New Mexico Community Capital (NMCC) to increase family economic security and community economic development by providing technical assistance to small businesses in New Mexico.
Over the years, the W.K. Kellogg Foundation’s programming has evolved, striving to remain innovative and responsive to the ever-changing needs of society. Today, the organization ranks among the world’s largest private foundations. Grants are awarded to support vulnerable children and their families in the United States, Latin America, the Caribbean, and southern Africa.
ACCION, in supporting small business development through lending activity will help families move from poverty, hunger, educational deficiencies and a lack of health insurance, and will support children from this circle of poverty into a more positive way of life not thought possible before the start or growth of their family’s small business. ACCION Vice President of Advancement Lynn Trojahn said “We are excited that this generous funding will help ACCION provide 250 loans totaling almost $3,125,000, supporting vulnerable New Mexico families in creating economic self-sufficiency for themselves and their children.”
CANM Executive Director Ona Porter said “the W.K. Kellogg Foundation investment in Community Action New Mexico will advance its nationally recognized work in asset development among low-income families in New Mexico. Business and policy plans for Child Development Accounts which are matched savings accounts and an assets trust fund will also be advanced with the W.K. Kellogg grant.”
“New Mexico Community Capital will utilize the $100,000 to assist low-income entrepreneurs and small business owners in rural areas of the state by expanding business development support and network facilitation to the southern regions of the state.” said Leslie Elgood, CEO of NMCC. This grant will allow LINK, a successful business development partnership between Los Alamos National Labs and NMCC to be replicated in other New Mexico communities.
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ACCION New Mexico · Arizona · Colorado is a nonprofit organization that has put more than $26 million in the hands of small business owners through loans in more than 183 communities. ACCION has been awarded Charity Navigator’s top four-star rating five years in a row. Please visit us at www.accionnm.org or call 1-800-508-7624.
Community Action New Mexico is a statewide organization that develops and demonstrates the effectiveness of high impact, out of poverty and ending poverty strategies. For more information on Community Action New Mexico, go to www.communityactionnewmexico.org,
NMCC’s mission is to improve the lives of New Mexicans, especially those in rural and economically underserved areas, by investing in small businesses, helping those communities prosper and contribute to their communities. NMCC delivers on its charitable mission through twooperating arms: NMCC Investment Fund and IMPACT-New Mexico Business Growth Services. For more information about New Mexico Community Capital, go to www.nmccap.org.
The W.K. Kellogg Foundation was established in 1930. The organization supports children, families and communities as they strengthen and create conditions that propel vulnerable children to achieve success as individuals and as contributors to the larger community and society. Grants are concentrated in the United States, Latin America and the Caribbean, and the southern African countries of Botswana, Lesotho, Malawi, Mozambique, South Africa, Swaziland and Zimbabwe. For more information, please visit the Foundation’s website at www.wkkf.org.
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Please contact Erin McDermott at emcdermott@accionnm.org regarding any errors or requested revisions.