Capital Magnet Fund (CMF)
Funding Amount
$950,000
Deadline
Deadline not published
Grant Type
Foundation
Deadline history & next window
- Cycle
- Annual
- Tracked since
- April 2026
Source: the cycle recorded on this listing. Confirm dates with the funder.
Can we apply?
Check your organization against each line. Taken from the listing; confirm with the funder's guidelines.
Eligible organizations
- Qualified non-profit housing organizations
Other requirements
- Community Development Financial Institutions (CDFIs)
Overview
Funder: U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund
Geographic Scope: New Hampshire and Maine (as awarded to Evernorth)
Focus Areas:
- Development of affordable housing in low-income areas
- Production and preservation of affordable rental apartments
- Early stage predevelopment capital for affordable housing
- Bridge financing for receipt of tax credit equity and other committed subsidies
- Permanent financing for energy upgrades in existing affordable housing stock
- Related economic development and community service facilities (day care centers, workforce development centers, health care clinics)
Eligibility:
- Community Development Financial Institutions (CDFIs)
- Qualified non-profit housing organizations
Background:
- Evernorth received $950,000 through FY 2020 CMF round (awarded February 22, 2021)
- Prior CMF award of $2M to Housing Vermont (now part of Evernorth) financed over 900 units over five years preceding 2021
- FY 2020 round made 48 awards nationally from a pool of $175.35 million
- 137 organizations requested more than $642.2 million
- Awardees required to leverage awards with other private and public investment by at least 10 to 1
- Expected outcome: production and preservation of 500+ affordable rental apartments over five years
What Evernorth Loan Fund Inc actually gave
Source: IRS Form 990, 2020 — the most recent filing with itemized grants
- Grants in 2020
- 2
- Total given
- $20K
- Median grant
- $10K
- By dollars: Vermont 50%, Ohio 50%. Top recipient cities: Barre, VT; Columbus, OH.
Example grants
Vermont Foodbank · Barre, VT
Support hunger relief
$10K
The National Association of State and Local Equity Funds · Columbus, OH
Advocacy of affordable housing development
$10K
Focus Areas & Funding Uses
Fields of Work
- Nonprofits
- Affordable housing
- Housing
- Community development
Categories
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Listed date — confirm with the funder
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