Civic Intelligence

Rise Economy

EIN 94-3153815 • 501(c)3 • San Francisco, CA

View Organization Page

Profile

The Organization works to build an inclusive and fair economy that meets the needs of low-income communities and communities of color by disrupting systems of oppression. The Organization is the largest statewide community reinvestment coalition in the country, with over 300 member organizations across California that provide services to thousands of Californians. The members include affordable housing developers, community development financial institutions, housing counseling agencies, small business technical assistance providers, legal services agencies, and community-based organizations.

77 Van Ness Ave Suite 101-1312San Francisco, CA 94102

www.rise-economy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

49th percentile

0.06x

Higher debt load relative to assets than 49% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

51st percentile

0.08x

Higher debt load relative to revenue than 51% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

14th percentile

-21%

Higher net margin than 14% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

92nd percentile

$235,402

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

15th percentile

-11%

Faster asset growth than 15% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

16th percentile

-18%

Faster revenue growth than 16% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$3,341,061

Down $415,646 (-11%) from 2023

Liabilities

Up

$198,766

Up $69,114 (+53%) from 2023

Net Assets

Down

$3,142,295

Down $484,760 (-13%) from 2023

Operations
Liabilities / Revenue51st percentileNet Margin14th percentile

Revenue

Down

$2,477,025

Down $560,721 (-18%) from 2023

Expenses

Up

$2,996,330

Up $188,555 (+6.7%) from 2023

Net Income

Down

-$519,305

Down $749,276 (-326%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth15th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $1,163,000Liabilities 2011: $27,554Net Assets 2011: $1,135,4462011Assets 2012: $1,095,470Liabilities 2012: $34,864Net Assets 2012: $1,060,6062012Assets 2013: $1,156,699Liabilities 2013: $33,036Net Assets 2013: $1,123,6632013Assets 2014: $1,046,640Liabilities 2014: $39,830Net Assets 2014: $1,006,8102014Assets 2015: $1,082,577Liabilities 2015: $29,827Net Assets 2015: $1,052,7502015Assets 2016: $1,076,244Liabilities 2016: $65,063Net Assets 2016: $1,011,1812016Assets 2017: $1,006,194Liabilities 2017: $67,892Net Assets 2017: $938,3022017Assets 2018: $1,137,210Liabilities 2018: $61,641Net Assets 2018: $1,075,5692018Assets 2019: $2,154,733Liabilities 2019: $92,071Net Assets 2019: $2,062,6622019Assets 2020: $2,866,769Liabilities 2020: $725,684Net Assets 2020: $2,141,0852020Assets 2021: $5,967,984Liabilities 2021: $1,495,042Net Assets 2021: $4,472,9422021Assets 2022: $4,631,946Liabilities 2022: $1,240,695Net Assets 2022: $3,391,2512022Assets 2023: $3,756,707Liabilities 2023: $129,652Net Assets 2023: $3,627,0552023Assets 2024: $3,341,061Liabilities 2024: $198,766Net Assets 2024: $3,142,2952024

Highlighted filing

2024

Assets$3,341,061
Liabilities$198,766
Net Assets$3,142,295
Open 2024 Filing

Operations Trend

Revenue Growth16th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $696,419Expenses 2011: $837,379Net Income 2011: -$140,9602011Revenue 2012: $633,155Expenses 2012: $711,689Net Income 2012: -$78,5342012Revenue 2013: $782,144Expenses 2013: $720,674Net Income 2013: $61,4702013Revenue 2014: $720,065Expenses 2014: $839,101Net Income 2014: -$119,0362014Revenue 2015: $819,771Expenses 2015: $818,376Net Income 2015: $1,3952015Revenue 2016: $995,272Expenses 2016: $1,010,190Net Income 2016: -$14,9182016Revenue 2017: $1,114,540Expenses 2017: $1,193,119Net Income 2017: -$78,5792017Revenue 2018: $1,229,534Expenses 2018: $1,089,898Net Income 2018: $139,6362018Revenue 2019: $2,168,737Expenses 2019: $1,189,258Net Income 2019: $979,4792019Revenue 2020: $2,124,133Expenses 2020: $2,040,655Net Income 2020: $83,4782020Revenue 2021: $5,671,310Expenses 2021: $3,347,047Net Income 2021: $2,324,2632021Revenue 2022: $1,187,930Expenses 2022: $2,437,182Net Income 2022: -$1,249,2522022Revenue 2023: $3,037,746Expenses 2023: $2,807,775Net Income 2023: $229,9712023Revenue 2024: $2,477,025Expenses 2024: $2,996,330Net Income 2024: -$519,3052024

Highlighted filing

2024

Revenue$2,477,025
Expenses$2,996,330
Net Income-$519,305
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,341,061
Liabilities
$198,766
Net assets
$3,142,295
Revenue
$2,477,025
Expenses
$2,996,330
Net income
-$519,305
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.34$0.20$3.14$2.48$3.00$0.52
2023Detailed filing. Detailed filing data is available for this year.$3.76$0.13$3.63$3.04$2.81$0.23
2022Detailed filing. Detailed filing data is available for this year.$4.63$1.24$3.39$1.19$2.44$1.25
2021Detailed filing. Detailed filing data is available for this year.$5.97$1.50$4.47$5.67$3.35$2.32
2020Detailed filing. Detailed filing data is available for this year.$2.87$0.73$2.14$2.12$2.04$0.08
2019Detailed filing. Detailed filing data is available for this year.$2.15$0.09$2.06$2.17$1.19$0.98
2018Detailed filing. Detailed filing data is available for this year.$1.14$0.06$1.08$1.23$1.09$0.14
2017Detailed filing. Detailed filing data is available for this year.$1.01$0.07$0.94$1.11$1.19$0.08
2016Summary only. Only limited summary data is available for this year.$1.08$0.07$1.01$1.00$1.01$0.01
2015Summary only. Only limited summary data is available for this year.$1.08$0.03$1.05$0.82$0.82$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.05$0.04$1.01$0.72$0.84$0.12
2013Summary only. Only limited summary data is available for this year.$1.16$0.03$1.12$0.78$0.72$0.06
2012Summary only. Only limited summary data is available for this year.$1.10$0.03$1.06$0.63$0.71$0.08
2011Summary only. Only limited summary data is available for this year.$1.16$0.03$1.14$0.70$0.84$0.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 3, 2025
Return Version
2024v5.2
Gross Receipts
$2,490,563
Mission and Program Overview

Mission

To build an inclusive and fair economy that meets the needs of communities of color and low-income communities by ensuring that banks and other corporations invest and conduct business in communities in a just and equitable manner.

The Organization's mission is to build an inclusive and fair economy that meets the needs of communities of color and low-income communities by ensuring that banks and other corporations invest and conduct business in communities in a just and equitable manner.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,353,950$1,164,361▼ $189,589
Cash and Non-Interest-Bearing Accounts$1,838,111$782,113▼ $1,055,998
Pledges and Grants Receivable$521,453$654,629▲ $133,176
Investments in Publicly Traded Securities$35,146$585,812▲ $550,666
Other Notes and Loans Receivable, Net-$150,375-
Prepaid Expenses and Deferred Charges$5,419$1,144▼ $4,275
Land, Buildings, and Equipment, Net$1,568$237▼ $1,331
Accounts Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,756,707$3,341,061▼ $415,646
Other Assets Total$1,060$2,390▲ $1,330
Liabilities
Accounts Payable and Accrued Expenses$129,652$198,766▲ $69,114
Total Liabilities$129,652$198,766▲ $69,114
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,690,504$2,115,705▼ $574,799
Net Assets Without Donor Restrictions$936,551$1,026,590▲ $90,039
Total Net Assets Fund Balance$3,627,055$3,142,295▼ $484,760
Total Liabilities and Net Assets / Fund Balance$3,756,707$3,341,061▼ $415,646

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$237$473$710
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paulina Gonzalez-BritoCEOFT$208,139$27,263$235,402
Kevin SteinChief of LegalFT$149,931$25,856$175,787
Brian MaxeyCCOFT$127,671$15,562$143,233
John HoffmanCDOFT$126,741$15,605$142,346
Jyotswaroop BawaChief of OrganizinFT$117,266$23,310$140,576
Jose OlivasCFOFT$107,873$22,535$130,408

Board Members and Trustees

NameTitle
Chancela Al-MansourBoard Chair
Elbe SerranoVice Chair
Eric PayneBoard Member
Herman BarahonaBoard Member
Joe RidoutBoard Member
Kendra Noel LewisBoard Member
Nikki BeasleyBoard Member
Steph CarrollBoard Member
Vanessa Carter FahnestockSecretary
Jillian SpindleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,393,813
Program Service Revenue
$26,550
Investment Income
$47,569
Other Revenue
$9,093
All Other Contributions
$2,044,609
Change in Net Assets
$-519,305

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,477,708
Revenue Not Reported on Financial Statements
$-683
Revenue Not Reported on Form 990
$59,400
Other Revenue Adjustments
$-683
Total Revenue per Audited Statements
$2,537,108
Total Revenue per Form 990
$2,477,025
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,309,348
Other Expenses$686,982
Total Fundraising Expense$138,718
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,406,794$95$37,634$1,444,523
Current Officers, Directors, Trustees, and Key Employees$408,850$21,137$78,169$508,156
Fees for Services Other$259,801$5,905$3,107$268,813
Payroll Taxes$143,620$1,529$8,434$153,583
Other Employee Benefits$136,939$154$514$137,607
Conferences and Meetings$78,074$3,244$3,893$85,211
Office Expenses$65,553$10,682$2,857$79,092
Pension Plan Contributions$59,714$5,233$532$65,479
Fees for Services Accounting$52,413$3,939-$56,352
Travel$33,890$2,061$2,605$38,556
Insurance$25,622$2,933$848$29,403
Occupancy$26,410$2,530-$28,940
Fees for Services Legal$12,425$710-$13,135
Other Expenses$6,505$3,085$125$6,505
Depreciation Depletion$567$81-$648
Total Functional Expenses$2,734,294$123,318$138,718$2,996,330

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,021,868
Expenses per Audited Statements$2,997,013
Total Expenses per Form 990$2,996,330
Expenses Not Reported on Form 990$24,855
Expenses Not Reported on Financial Statements$-683
Other Expense Adjustments$-683
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$21,948
Fundraising Direct Expenses$12,855
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Los Angeles event$322,248$21,948-$21,948
Total Events$322,248$21,948$12,855$9,093
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“All members must be approved by a majority vote in a meeting with a duly constituted quorum.”

Form 990, Part VI, Section A, Line 7A

“All new members must be approved by a majority vote in a meeting with a duly constituted quorum.”

Form 990, Part VI, Section A, Line 7B

“All decisions must be approved by a majority vote by a duly constituted meeting, consisting of a quorum. The Board reserves the right to appoint a committee to act on its' behalf.”

Form 990, Part VI, Section B, Line 11B

“The draft 990 will be shared with the Board of Directors prior to filing. If it is ready in time for the Q3 Board meeting, it will be shared and a vote requested to approve for 990 filing during the Board meeting. If it is not ready at that time, it will be shared via email for a review with a request for an email vote before the filing deadline in November.”

Form 990, Part VI, Section B, Line 12C

“The Board of Directors must complete Conflict of Interest questions annually. Their responses are recorded by staff.”

Form 990, Part VI, Section B, Line 15A

“Upon a performance review of Executive Director including input from members of the Board of Directors, the Executive Director's compensation was determined using key performance metrics. Compensation was approved by the full Board of Directors.”

Form 990, Part VI, Section C, Line 19

“Available upon request”

Filing and Contact Details

Filer

Filer Name
Rise Economy
EIN
94-3153815
Phone
4158643980
Address
77 Van Ness Ave Suite 101-1312, San Francisco, CA 94102

Signing Officer

Name
Paulina Gonzalez-Brito
Title
CEO
Signed
2025-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paulina Gonzalez-Brito
Formed
1992
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
22
Volunteers
10

Preparer

Firm
Iryna AC
Address
1000 Broadway Ste 200-C, Oakland, CA 94607
Preparer
Kostyantyn Oreshkov EA
Phone
5104679506
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“In 2024, the Organization revised its method of reporting program service accomplishments on Form 990. In prior years, the Organizations activities were described as a single combined program. For 2024, the Organization has presented nine distinct programs to better reflect the scope and variety of its mission-driven work. While the overall mission and nature of the activities remain consistent with prior years, the programs are now separately identified and described in Part III, lines 4a4i, to provide greater transparency and detail.”

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization is not classified as a private foundation and is exempt from federal and state income taxes under section 501(c)3 of the Internal Revenue Code and Section 23701(d) of the California Code. The Organization is a publicly supported organization. The Financial Accounting Standards Board prescribes a recognition threshold and a measurement attribute for financial statement recognition of tax positions taken or expected to be taken on a tax return. Management has evaluated its uncertain tax positions and related income tax contingencies and does not believe any material tax positions exist.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Fundraisings events (Net) $12855”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Fundraisings events (Net) $12855”

Raw XML AppendixShowing 400 of 677 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0Resilience FundThe Resilience Loan Fund bolsters the lending capacity of emerging and aspiring nonprofit Community Development Financial Institutions (CDFIs). Born out of a community response to the lack of government and inadequate financial institution pandemic support and the financial hardships experienced by communities of color during the COVID pandemic, we launched the Resilience Fund in 2021. To date, the Resilience Fund has provided a cohort of 11 BIPOC-led emerging CDFIs with grant funding, capacity building, technical assistance, and peer learning to help them progress along their journey toward CDFI certification. Our Resilience Fund Cohort Members serve thousands of low-income small business owners and micro-entrepreneurs across a diverse geographical span of 22 counties in the San Francisco Bay Area, Southern California, Inland Empire, and Central Valley. In 2024, Rise Economy started an LLC the Rise Economy Resilience Loan Fund - as the future direction of this initiative and our strategic solution to the capital deficit faced by our Cohort Members. To qualify for CDFI certification, applicants must demonstrate their capacity to manage a loan portfolio of $100,000 to $250,000. Our primary objective, therefore, is to make capital available to our current cohort of 11 emerging or aspiring CDFIs to build consumer, micro and small business loan funds. Should additional lending capital remain, we will extend our support to other fledgling CDFIs in California. The fund pools resources from banks, foundations, and other philanthropic partners in order to provide operating grants and forgivable loans or investments. Rise Economy manages the Resilience Loan Fund, with governance by a seasoned Loan Committee that evaluates and approves all loan applications.
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IRS990/MissionDesc0The Organization works to build an inclusive and fair economy that meets the needs of low-income communities and communities of color by disrupting systems of oppression. The Organization is the largest statewide community reinvestment coalition in the country, with over 300 member organizations across California that provide services to thousands of Californians. The members include affordable housing developers, community development financial institutions, housing counseling agencies, small business technical assistance providers, legal services agencies, and community-based organizations.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Advancing CitiesFrom 2020-2024, Rise Economy leveraged the knowledge and expertise of our Economic Wellness Promotores to spearhead our participation in the Open Air Economy Collaborative, an LA-based partnership between Inclusive Action for the City, East LA Community Corporation, Public Counsel and Rise Economy. Supported by a three-year Advancing Cities grant from JP Morgan Chase, this innovative program provided holistic business support in the form of capital, business coaching, legal assistance and financial education to Black and Latinx street vendors and other micro-entrepreneurs.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Housing JusticeRise Economy advances campaigns that will increase BIPOC communities access to low-cost capital for affordable housing, hold corporate landlords accountable for tenant protections, and address the growing insurability crisis that threatens to derail progress on affordable housing throughout the state. Rise Economys current work boldly shifts the narrative - centering corporate accountability in tackling Californias housing and climate crises, and advancing policy strategies to increase banking sector investment in affordable housing and BIPOC homeownership. These strategies, described below, can generate significant resources and data to address the state's affordable housing crisis, stabilize neighborhoods, and build climate resilience. Rise Economys current affordable housing-related campaigns and projects include:- State Community Reinvestment Act (CA CRA): Rise Economy and its members are leading a statewide organizing effort to establish a California Community Reinvestment Act. We estimate that the financial institutions not currently subject to federal CRA obligations have the potential to reinvest upwards of $15.3 billion per year for affordable housing and economic development in California. In 2024 Rise published a policy brief and is currently building support for a policy campaign for the California CRA.- LLC Owner Transparency: Increasing consolidation of rental property ownership in shell companies is creating regional real estate monopolies. Investors with all-cash offers outbid first-time homebuyers and small landlords, robbing families of opportunities to build intergenerational wealth. Large entities are worse landlords and aggressive evictors of tenants, and their business model disincentivizes upkeep of properties - allowing the already limited affordable housing stock to fall into disrepair and code violations. Without requiring disclosure of the name of the company owner, California inadvertently shields powerful bad actors in the rental market. Rise Economy is building a strong coalition of allies to join the push for LLC ownership transparency. - Financing for Community Land Trusts: In recent years we have partnered with the California Community Land Trust Network to negotiate $65M in bank commitments to CLTs. A current priority is partnering with the Community Ownership for Community Power Fund, brokering conversations with banks to invest some of these CLT commitments through COCPs Integrated Capital Fund.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0Small Business & JobsRise Economy leverages the Community Reinvestment Act (CRA), bank merger processes, and relationships with banks to harness more capital for communities historically excluded from wealth building through Community Benefit Agreements (CBAs). For example, in some CBAs banks have committed resources to Special Purpose Credit Programs that create loan opportunities for BIPOC small business owners. We also work with banks to encourage them to make smaller loans - under $250K in order to serve more people in low-income communities of color seeking loans for businesses; and encourage banks to invest in Community Development Finance Institutions (CDFIs) that can make even smaller loans in low-income communities.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1Family Economic Security (Economic Wellness Promoters)Recognizing that financial education programs are often inaccessible to low-income groups, Rise Economy developed an innovative trauma-informed approach to financial wellness that is based on the Promotores peer-to-peer community health education model. Rise Economys Promotores are frontline workers who have received specialized training on increasing peoples' financial capability and share the lived experience of people in the communities they serve. Through creating a trusted relationship, Promotores help low-income families and individuals improve their understanding of and access to safe, affordable financial products while sharing strategies that build and sustain household economic security. Instead of presenting cookie-cutter informational events, Promotores function more as small team leaders who can pace workshops to focus on individuals, answer specific questions, and provide information tailored to the participants needs. They are also bilingual, facilitating effective communication with Spanish-speaking participants. This highly empathetic approach to financial counseling is often lacking in "one-size-fits-all" financial literacy programs.This program started in Los Angeles then expanded to the Bay Area, Sacramento and Central Valleys. From 2020-2024, Promotores provided online workshops and training to over 1900 individuals throughout California. Eighty percent of individuals participating in the workshops were women and 83% identify as Hispanic/Latino. Promotores started workshops by addressing the inherent stigma and shame people experience when faced with financial stress through a trauma-informed approach. From there, they helped participants develop household budgets, learn about various safe and affordable financial products, gain a deeper understanding of the impacts of payday lenders, and develop plans to get out of debt cycles. This program was primarily funded by a 3-year grant, and was phased out at the end of 2024.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2Program GeneralProgram General captures Rise Economys ongoing mission-focused policy advocacy activities, including annual meetings in Sacramento with lawmakers and their staff. Each year we organize a large group of member organizations to participate in these meetings, educate policy makers about the economic needs of communities around the state, and advocate for solutions to the racial wealth gap. Program General also includes expenses for emerging programmatic work of Rise Economy that may or may not grow into a new program with project-restricted funding.
IRS990/ProgSrvcAccomActyOtherGrp/Desc3Alternative FinanceA vibrant public banking movement has been sweeping across the U.S. Public banks aim to democratize financial systems, ensuring that a community's money serves the public good. Unlike their Wall Street counterparts, public banks enable local governments to divest from institutions that do not align with their values and instead invest in initiatives promoting equity, health, prosperity, and well-being for individuals, families, and communities. These investments will include affordable housing, infrastructure, green energy, and small businesses - all contributing to sustainable local economies. Rise has been a key partner in the development of the Public Bank East Bay (PBEB), a community-governed public bank that will lend, invest, and leverage public funds to meet and address underserved public needs. It will serve Alameda County, the city of Richmond, and other cities in both Alameda and Contra Costa Counties. Rise Economy is also in the early stages of research and organizing for a State Public Bank, with the vision of supporting municipalities by lowering borrowing costs, increasing credit, and helping fund key projects in infrastructure, affordable housing, and renewable energy. This is particularly important for rural and tribal areas that are banking deserts and have historically struggled to access investment dollars for community economic development and infrastructure. A public bank could tackle Californias housing crisis and safeguard local economies during downturns and disaster recovery by keeping resources within our communities instead of with Wall Street banks.
IRS990/ProgSrvcAccomActyOtherGrp/Desc4Corporate Accountability/Climate ActionIn 2024, Rise Economys Corporate Accountability program became more focused on the climate crisis and the insurance industry. California has been increasingly plagued by extreme weather events, including wildfires, extreme heat, flooding, and drought. Bluelining is an emerging practice in which financial institutions increase prices of or withdraw services (such as insurance, credit, and banking) from regions they perceive to be at high environmental risk. Bluelining is often discussed as the new redlining because neighborhoods with a legacy of redlining face growing exposure to climate-related damage that leaves them vulnerable to other financial risks. Currently, major insurers like State Farm and Allstate have stopped offering new homeowners insurance policies in California, citing the growing risks and financial untenability of providing coverage in the state.Many of Rise Economys members are affordable housing developers facing unprecedented challenges due to the skyrocketing cost of insurance. The staggering rate increases add to the mounting costs faced by affordable housing developers in California, many of whom are Rise Economy members. To address this growing crisis, in 2024 we began a statewide research, advocacy, and media strategy or campaign for Rise Economy and its members to amplify low-income community voices regarding the need for financial institutions and regulators to consider climate risk a systemic risk and take action accordingly so that homeowners, renters, and low-wealth communities in particular aren't left holding the bag.
IRS990/ProgSrvcAccomActyOtherGrp/Desc5Access to Capital A new program established in late 2024 called Access to Capital will strengthen our statewide network and increase local community engagement with future CBA processes, especially in underinvested areas in Californias Central Valley and tribal areas. By increasing the negotiating skills and power of local groups, there is potential to leverage more sizable community reinvestment commitments in underserved parts of the state for years to come. Working with trusted local partners, Rise Economy will organize and deliver CRA trainings to local member organizations in the Central Valley and other rural and tribal areas of the state. Through this work, Rise Economy will also expand its membership of community-based organizations throughout the state.
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