Department of Treasury – Community Development Financial Institution

Ways to Work, Inc. was certified as a Community Development Financial Institution by the U.S. Department of Treasury on July 12, 1999 and received a $2M financial assistance award from the Community Development Financial Institutions Fund on September 28, 2000.

The Community Development Financial Institutions Fund (the Fund) was created for the purpose of promoting economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIs). The Fund was established under the Reigle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative, and the Fund is placed within the Department of Treasury.

The mission of the Fund is to increase the capacity of financial institutions to provide capital, credit and financial services to underserved markets.

Through the CDFI Program, the Fund uses federal resources to invest in and build the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services. The Fund provides monetary awards for financial assistance (FA) and technical assistance (TA) through the CDFI Program.

As a CDFI, Ways to Work, Inc. used the award to further CDFI Program goals, including: economic development (job creation) and community development financial services (provision of basic banking services to underserved communities and financial literacy training).

Detailed information about the CDFI Program is located on the CDFI Fund web site. The link is http://www.cdfifund.gov/index.asp.

US Department of Transportation – Job Access Reverse Commute

During the past six years Ways to Work, Inc. was awarded $15.1M in federal funding through the U.S. Department of Transportation’s Job Access and Reverse (JARC) Program. The JARC Program provides funding for innovative transportation services that connect welfare recipients and other low-income persons to jobs and other employment related services. As the grant recipient, Ways to Work, Inc. deployed these funds to loan offices for the purpose of launching or sustaining loan offices. As a result, thousands of low-income families either moved closer toward or achieved economic self-sufficiency in the following states.

In 2005, JARC was converted from a federal discretionary program to a formula grant program. JARC funds are now distributed annually via a formula to all 50 states and large urbanized areas (populations 200,000 and above). Once distributed, state and local officials must administer a public competition in order to award the funds.

Non-profit transportation providers like Ways to Work remain eligible recipients of JARC funding. As this federal grant program has been an important funding source for Alliance members, Ways to Work, Inc. has worked to assist its network of sites adapt to the new formula distribution model. As part of this effort, Ways to Work, Inc. released a handbook entitled, "The JARC Formula Grant Program: A Federal Funding Opportunity for Low-Income Car Acquisition Programs." The handbook is meant to provide Ways to Work sites with a detailed understanding of JARC and how to go about applying for funding.

Alliance members interested in pursuing JARC funding to operate a Ways to Work program can contact Matthew Mueller, Director of Government Funding, for additional guidance and assistance.