First Nations Development Institute Announces $175,000 in Little
Eagle Staff Fund Grant Awards
Released
on: October 17, 2008, 5:10 am
Press
Release Author: First
Nations Development Institute
Industry:
Financial
Press
Release Summary: First Nations Development Institute (First Nations)
has awarded grants to six Native community-based economic development
organizations through its Little Eagle Staff Fund (LESF). The
mission of the Little Eagle Staff Fund is to support Native community-based
economic development organizations who offer unique financial
services and products that promote economic development.
Press
Release Body: First Nations Development Institute Announces
$175,000 in Little Eagle Staff Fund Grant Awards
First
Nations Development Institute (First Nations) has awarded
grants to six Native community-based economic development organizations
through its Little Eagle Staff Fund (LESF). The
mission of the Little Eagle Staff Fund is to
support Native community-based economic development organizations
who offer unique financial services and products that promote
economic development.
“It
was a very competitive year for proposals,” stated
Sarah Dewees, First Nations’ Director
of Research and the program officer for the LESF grant program.
“We received many excellent proposals because there
is both growing demand and substantial need for funding for this
type of work.” First Nations initially
received 47 letters of intent from those interested in applying
for grant funding. From those 47, twelve groups were invited to
submit full proposals. Of the twelve, six were selected for funding.
The
six organizations to be awarded grant funding under the LESF
program are the Wigamig Owners Loan Fund Inc., Sitting
Bull Tribal Business Information Center (TBIC), Turtle Mountain
Community Development Financial Institution, the Oregon Native
American Business & Entrepreneurial Network (ONABEN), Katikitegon
Community Development Corporation, and the Ho-Chunk Nation.
The grants range in value from $12,000 to $40,000, and the projects
include financial education, loan funds, and entrepreneurship
development. Three grants will be given to help groups start community
development financial institutions (CDFIs), two grants specifically
support financial education programs, and one grant will support
an entrepreneurship training program.
“We
are proud to be able to support these innovate economic development
organizations that play such an important role in creating an
‘enabling environment’ for economic development on
Indian reservations and in other Native communities,”
stated Michael E. Roberts, President of First Nations
Development Institute. “We are thankful to
our funders who have supported this grant program.”
The Little Eagle Staff Fund is currently capitalized
by Bank of America, the Johnson Scholarship Foundation, the Washington
Mutual Foundation, and a fourth partner, as well as through the
generous support of First Nations’ individual
donors.
The
focus of the LESF projects is to educate individuals
about successful financial management techniques with the broader
implication that this knowledge will support Native individuals
and communities to become self-reliant and economically prosperous.
“Our mission is to change our economic landscape one
family at a time by providing the essential educational components
related to making sound financial decisions,” stated
Chrystel Cornelius, Executive Director for the Turtle
Mountain CDFI. “We are also creating an outlet
to provide capital and lending products that will increase community
and individual assets and help build wealth within our community.”
First
Nations Development Institute is a national American
Indian-led 501(c)(3) non-profit organization that was founded
in 1980. Through a three-pronged strategy of educating grassroots
practitioners, advocating systemic change, and capitalizing Indian
communities, First Nations Development Institute
is working to restore Native control and culturally-compatible
stewardship of the assets they own – be they land, human
potential, cultural heritage, or natural resources – and
to establish new assets for ensuring the long-term vitality of
Native communities. First Nations was founded
with the belief that when armed with appropriate resources, Native
peoples hold the capacity and ingenuity to ensure the sustainable
economic, spiritual, and cultural well-being of their communities.
For
more information about this project, contact Sarah Dewees, Director
of Research/ sdewees@firstnations.org; or visit First Nations
Development Institute’s website at www.firstnations.org.
###
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