Press Release - October 30, 2015

SVCF Awards $1.6 Million for Economic Security and Regional Planning Efforts to Benefit Silicon Valley Residents

MOUNTAIN VIEW — Silicon Valley Community Foundation has awarded more than $1.6 million to support organizations that provide financial education and services to low- and moderate-income residents of San Mateo and Santa Clara counties, and organizations working to improve land use, affordable housing and public transportation options for people of all income levels.

Grant amounts range from $10,000 to $80,000 and are spread among two of SVCF’s grantmaking focus areas: economic security and building strong communities. Forty-five grants will go to nonprofit organizations serving the two counties.

“As the cost of living in Silicon Valley has increased, our grants to deliver financial education and asset building programs for low-income people have grown even more important,” said Manuel Santamaría, vice president of strategic initiatives and grantmaking for SVCF. “Likewise, SVCF’s grants to improve residents’ access to affordable housing and public transit help address very timely needs across the Silicon Valley community.”

Of the $1,610,000 million awarded, 28 grants totaling $865,000 will go to organizations offering financial education and asset-building assistance to primarily low- and moderate-income households in San Mateo and Santa Clara counties. The work of these grantees is aligned with SVCF’s grantmaking strategy on economic security, which aims to increase availability of financial education and reduce predatory lending to help families achieve greater economic security.

Among the economic security grantees:

  • Samaritan House will receive $40,000 to empower low-income individuals and families in San Mateo County to change their financial behavior and achieve long-term economic self-sufficiency through a bilingual, progressive, in-house financial coaching program.
  • AnewAmerica Community Corporation will receive $15,000 to build economic security in underserved communities in Santa Clara County through expanded tax preparation assistance, financial literacy education and one-on-one counseling.

A total of $745,000 will go to support 17 nonprofit organizations whose programs align with SVCF’s grantmaking strategy for building strong communities. This strategy supports local and regional planning efforts that promote affordable housing and transit-oriented development, access to green space and greater coordination and civic engagement in regional planning issues.

Among the building strong communities grantees:

  • The San Francisco Organizing Project/Peninsula Interfaith Action will receive $80,000 to train and empower low-income residents and residents of color to engage in finding long-term solutions to displacement and housing affordability that will lead to community stability, vitality and health for Santa Clara and San Mateo counties.
  • Legal Aid Society of San Mateo County will receive $15,000 to support a project to employ research and data analysis to drive policy work that preserves mobile home parks in San Mateo County, saving this threatened, yet critical, source of affordable housing for low-income residents.

You can view a full list of the organizations receiving financial education and asset building grants here.

You can view a full list of the organizations receiving building strong communities grants here.

Also visit our website for more information about all SVCF’s grantmaking strategies and community impact initiatives.

About Silicon Valley Community Foundation

Silicon Valley Community Foundation makes all forms of philanthropy more powerful. We serve as a catalyst and leader for innovative solutions to our region’s most challenging problems, and through our donors we award more money to charities than any other community foundation in the United States. SVCF has $6.5 billion in assets under management. As Silicon Valley’s center of philanthropy, we provide thousands of individuals, families and corporations with simple and effective ways to give locally and around the world. Find out more at siliconvalleycf.org.