2006 Legislative Hearings on Foundation Giving to Minority-Led Nonprofits

Members of California’s Latino Legislative Caucus, Legislative Black Caucus, and Asian Pacific Islander Legislative Caucus held a historic joint hearing on April 24, 2006 to discuss diversity in grantmaking and governance in the philanthropic sector. The hearings were called in part in response to the Fairness in Philanthropy report published in 2005 by The Greenlining Institute.

Hearing of the House Financial Services Committee

Orson Aguilar
Orson Aguilar

Testimony of Orson Aguilar
Executive Director The Greenlining Institute
Hearing of the House Financial Services Committee:

September 16, 2009
“Proposals to Enhance the Community Reinvestment Act”

Introduction

The Community Reinvestment Act (CRA) has helped expand economic opportunities for millions of Americans.  For many families, CRA has made the American Dream possible by ensuring that loans for homes, small businesses, and other opportunities for asset building are available and accessible to all communities.

Banks have also benefited from CRA.   Many banks have found new and profitable markets in communities that they might have otherwise overlooked.

In essence, CRA has led to win-win opportunities where banks, customers, and communities have benefited from increased bank investments in underserved communities.  CRA has worked best where true partnerships have formed between banks, community-based organizations, and government agencies.

Overall, CRA has advanced the principles of an ownership society by creating opportunities where people and families can create and own assets. Still, CRA is not perfect.  Despite CRA’s track record of success, more can and should be done to invest in America’s neighborhoods.

As we speak today, too many families are losing their homes and too many small businesses are shutting down.  Too many neighborhoods are decaying due to crime and abandonment.  While CRA is not a sole panacea for addressing these ills, a modernized CRA can do much to advance the economic growth that can alleviate problems at their source and improve life and opportunity in all communities.

Click here to download the full six page testimony (PDF)

Click here to watch a video of this testimony (Windows Media Player)

Greenlining Letter to Comcast & NBC CEOs

Dear Mr. Roberts and Mr. Zucker:
Since the announcement late last year, the Greenlining Institute has
carefully scrutinized the proposed merger between Comcast and NBC
Universal. Our analysis over the past several months of Comcast’s
corporate practices leaves us with serious concerns over the negative
implications that a vertically integrated media corporation will have on the
nation’s communities hardest hit by the economic downturn.
Continue reading “Greenlining Letter to Comcast & NBC CEOs”