Multiple Charities Benefit from Partnership Grant Program
Arvest Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded Partnership Grant Program (PGP) grants totaling $54,954 to six community-based organizations (CBOs) – Habitat for Humanity Benton County (HFHBC), Habitat for Humanity of Greater Jonesboro, In Affordable Housing, Next Step Homeless Services, Riverview HOPE Campus and University District Development Corporation (UDDC).
PGP grants help qualified nonprofit organizations fund a variety of administrative activities that are critical to serving their communities.
Habitat for Humanity Benton County, a nonprofit organization with a goal to eliminate poverty housing within Benton County, was awarded a $6,000 grant which will be applied toward administrative costs to help the team work remotely during the pandemic. Since its founding in 2000, HFHBC has built about 81 homes serving approximately 253 individuals in partnership with Habitat for Humanity homeowners and the community.
Habitat for Humanity of Greater Jonesboro strives to eliminate substandard housing conditions for low-income families in the Jonesboro community. The organization was awarded a $6,000 PGP grant, which will be used for organizational capacity building to offset operational and administrative expenses.
In Affordable Housing, headquartered in Little Rock, creates and preserves affordable housing opportunities in targeted neighborhoods with limited incomes. It also provides training, financial education and advocacy for limited-income families. In Affordable Housing received a $15,000 PGP award that will be used for organizational capacity building as well as construction costs.
Next Step Homeless Services provides transitional housing for homeless individuals and families and operates the only emergency day shelter in the Sebastian County area. While many agencies closed their doors amid the pandemic, Next Step Homeless Services continued to help the community and increased its services to individuals in need. The organization received a $12,000 PGP award that will be used to help offset administrative and operational costs incurred in response to the COVID-19 pandemic.
Riverview HOPE Campus provides comprehensive services to impoverished individuals and families in the city of Fort Smith to help transform their lives and get back on their feet. The organization has successfully transitioned more than 400 individuals into self-sufficiency since the HOPE campus was built in 2017. The organization intends to use its $9,000 PGP grant for operational costs.
University District Development Corporation administers a revitalization program benefiting the residential and commercial neighborhoods adjacent to the University of Arkansas at Little Rock. Its mission is to improve the quality of life for residents who live and work in the community. The organization plans to use its $6,954 PGP grant toward administrative costs and to acquire land in the University District neighborhoods.
Arvest Bank Group Community Reinvestment Act Director, Group Compliance Virgil Miller, Jr. said the PGP helps CBOs continue operating with the expanded use of funds.
"Nonprofit organizations such as these are vital to many individuals in the community and can have tight budgets at times," said Mr. Miller. "If they don’t have the proper resources or funding, they would not be able to continue operations. Arvest Bank is honored to partner with FHLB Dallas to provide grants to all six organizations through the Partnership Grant Program."
Funding of the PGP was increased by $2 million this year under FHLB Dallas’ COVID-19 Relief Program to support community-based organizations (CBOs) involved in affordable housing activities, stimulating small business development or providing small businesses with technical assistance. For 2020, program parameters also were expanded to include COVID-19 relief.
Through this unique grant program, FHLB Dallas member institutions contribute from $500 to $6,000 to a CBO, which FHLB Dallas matches at a new, higher 5:1 ratio (compared to the previous 3:1 ratio) resulting in a match of up to $30,000. If multiple member institutions contribute to the same CBO in one year, the maximum FHLB Dallas match for those member contributions is $60,000 per year. In both cases, the total grant to the CBO would be the sum of the member contribution(s) plus the FHLB Dallas match. Grants are awarded annually through FHLB Dallas and its member institutions.
"Member institutions such as Arvest Bank used the Partnership Grant Program to not only help community organizations, but also to impact populations served by the organizations," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "It is an honor to work with Arvest Bank every year to provide these community-based organizations funding to continue their operations, especially during the pandemic."
Arvest Bank operates more than 270 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 14 locally managed banks, each with its own board and management team. These banks serve customers in more than 135 communities, with extended weekday banking hours at many locations. Arvest provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest also is one of a select few banks in the nation to have its mobile app – Arvest Go – certified by J.D. Power for providing an outstanding mobile banking experience. Arvest is an Equal Housing Lender and Member FDIC.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $83.8 billion as of March 31, 2020 is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 805 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.
Federal Home Loan Bank of Dallas