NEW ECONOMICS FOR WOMEN
303 South Loma Drive, Los Angeles, CA 90017 www.neweconomicsforwomen.org

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Organizations Filed Purposes: To build economic mobility for women, especially Latinas and their families through wealth creation, housing, education, entrepreneurship, and civic engagement. Our vision is to empower generations of women and their families to thrive.

FamilySource Centers: Through the FamilySource Centers (FSCs), NEW empowers thousands of adults, youth, and children to lift themselves out of crisis and onto a stable path towards prosperity. In partnership with the City of Los Angeles, NEW acts as the lead agency for FSCs located in Canoga Park and Van Nuys. At each site, NEW has formed meaningful partnerships with community organizations to provide low-income families with high quality events, workshops, and services that enable self-sufficiency by increasing family income and academic achievement. Families enrolled in the FSCs can access a holistic spectrum of anti-poverty services including case management, employment services, legal services, free tax preparation, financial literacy classes, financial coaches, technology workshops and computer labs, youth leadership and college/career readiness activities, and many more. Each FSC site also operates a youth Learning Center to provide youth in grades 8-12th with quality homework assistance and enrichment activities.

Resident Programs: NEW's resident programs encompass all of efforts working in conjunction with our 1,300+ units of affordable housing across twelve (12) multi-family apartments building to provide safe, affordable housing for working parents, parenting workshops, life skills workshops, healthy lifestyle programs and the I Am Change Learning Centers for children. In these I Am Change Learning Centers, NEW also offers academic tutoring and afterschool enrichment programs, and youth leadership programs. All programs address behavioral economics and use a multigenerational approach to motivate families to reflect, reassess, redirect, and reinvent their family dynamics in order to construct a legacy of empowerment for each senior, adult and youth/child participant. Overall, NEW assisted close to 800 families increase their income and/or create a potential asset totaling $33,000,000.

Neighborhood Stabilization: An outstanding example of NEW's ability to leverage private and public investments is the participation in the Neighborhood Stabilization Program or NSP2Program. NEW was a recipient of a federal line of credit to stabilize neighborhoods whose viability have been and continue to be damaged by the economic effects of foreclosed upon, abandoned, blighted and vacant properties. This program, sponsored by the U.S. Department of Housing and Urban Development (HUD), enabled NEW to become a member of a National Consortium of 13 high-capacity, nonprofit affordable housing developers, with one goal: to revitalize neighborhoods across the country negatively impacted by foreclosures and abandoned properties. This $137 million dollars in funding is the largest federal award targeting predominantly Latino neighborhoods. NEW received an award of $25 million of NSP2 funding. Through this federal line of credit, NEW has been able to expand its work to rebuild communities and elevate lives. NEW has performed acquisition/rehabilitation activity on 76 homes in the San Fernando Valley, one of the areas in Southern California hit the hardest with the foreclosure crisis. NEW has also made significant investments of its federal funds into multifamily predevelopment and acquisition/rehabilitation to improve and expand access to safe and affordable rental housing for low-income families.

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