As our 30th year comes to a close, Forward Community Investments reflects with pride and gratitude the incredible impact we’ve achieved throughout Wisconsin with our borrowers, partners, and investors. This year has been a testament to the power of partnerships, innovation, and our shared commitment to building a more equitable and inclusive future for all.
From funding transformative community projects to supporting visionary organization leaders driving change, we’ve seen their resilience and creativity shine. Together, we’ve expanded access to affordable housing, empowered nonprofits addressing critical needs, and strengthened the infrastructure of communities throughout the state.
Every success we celebrate is rooted in the collective efforts of individuals, organizations, and allies who believe in the possibility of a brighter tomorrow. As we look forward to the year ahead, we remain steadfast in our mission to support initiatives that make a lasting difference and elevate voices that inspire change. Here’s a highlight of our most impactful achievements:
2024 In Review
Impact Highlights
- $4.9MM in new loans closed and committed to eight borrowers
- FCI Loans currently supporting projects in thirteen Wisconsin counties
- $27.4MM in New Market Tax Credits (NMTC) loans closed supporting three projects across Wisconsin
- Official Launch of our Small Business Lending Program
New Market Tax Credit Initiatives
- Received $40MM NMTC Award from the CDFI Fund
- Lac Courte Oreilles Community Health Center: Earlier this year, FCI was awarded the Novogradac Journal of Tax Credits “2024 Community Development QLICI of the Year Award” in the non-metro category for our innovative use of New Markets Tax Credit (NMTC) financing to provide $12.1MM in funding for the construction of the Lac Courte Oreilles Community Health Center located in Hayward, WI in late 2023. The new center is set to open in early 2025.
- MKE Habitat for Humanity: FCI’s $4MM NMTC allocation is supporting the construction of 13 new single-family homes in Milwaukee that will be made available to households earning between 30-80% area median income.
- Rice Lake Aquatics & Recreation Center: Received $8MM in NMTC from FCI to support the construction of a 35,000 square-foot facility to serve the community as an open recreation space and a safe place in the community for all ages. The facility will provide a modern aquatic and recreational space which will accommodate the health, wellness and athletic needs of our community.
- Meta House: FCI deployed a $15.1MM NMTC allocation to support the development of a new $30MM facility in the Piggsville neighborhood of Milwaukee. Meta House exists to end the generational cycle of addiction by healing women and strengthening families through advocacy, treatment, and a wide array of supportive services. Their facility offers a unique residential treatment option for women and their children to live on site while receiving around-the-clock care.
- Dr. Howard Fuller Collegiate Academy: Recently celebrated the grand opening of its new middle school and high school facilities, enabling the school to service 850 scholars from 6th through 12th grades and over 100 teaching faculty and staff. (Received $15MM in NMTC financing from FCI in 2023)
Partnership Initiatives
Introduction of Small Business Lending – In September, FCI officially launched its small business loan product. This program is designed to expand economic opportunities to underserved communities by providing essential capital to growth-stage businesses to stimulate job creation, increase local investment, and build sustainable wealth for entrepreneurs. The program is supported by the Dane County Diverse Business Guaranty Fund, a partnership between FCI, WPN, and several other philanthropic partners throughout the state.
Grant Initiatives: the Racine Dominicans Missions Grant – Earlier this year, FCI partnered with the Sisters of St. Dominic of Catherine of Siena, now known as the Racine Dominicans, to introduce the Racine Dominicans Mission Grants program. At the heart of their mission lies a dedication to social justice. The Sisters dedicated $500,000 to provide ten (10) Wisconsin based non-profit organizations $50,000 each to support their projects addressing three critical issues of:
- Immigration and Migration support
- Affordable Home Ownership Solutions in disadvantaged communities
- Climate Equity projects that helped mitigate damage to air, water, soil, and serve disadvantaged populations challenged with accessing similar services and support.
Impact Investing Initiatives
The Greater Green Bay Community Foundation (GGBCF) – FCI partnered with GGBCF to initiate a new way to approach impactful investment opportunities in the Green Bay area. The GGBCF Impact Investing Fund that charitable assets to make catalytic investments in projects and business opportunities that produce both a social benefit and achieve a financial return. Those returns are recycled and reinvested in new opportunities over time. The pilot fund focuses on areas of Affordable Housing, Healthcare, Economic Opportunities and Stability – supporting small businesses and workforce challenges such as daycare providers and facilities.
Dane County Diverse Business Guaranty Fund – In September, FCI launched the Dane County Diverse Business Guaranty Fund in partnership with the Wisconsin Philanthropic Network (WPN) and several other philanthropic partners throughout the state. This fund provides support to FCI’s small business lending program and aims to help accelerate the growth of BIPOC-owned small businesses in Dane County. This equity-focused, small business lending program aims to address the ongoing wealth disparity in our state by providing greater access to capital. Our philanthropic partners include:
- The Schlecht Family Foundation
- American Family Insurance Dreams Foundation
- UW Health
- Kids Forward Foundation
- Madison Community Foundation
- Alliant Energy Foundation
Thank you for being part of this journey. Together, we are moving Wisconsin forward.
