PriyaPatelTLDR:
The Open Access Fellowship program aims to increase Black, Hispanic, and Latino representation in community development finance, specifically in New Markets Tax Credit (NMTC) industry. The program provides education, job training, and mentorship to prepare fellows for roles in community development finance. The program has been successful in placing 76% of fellows in community development finance roles.
Increasing Diversity in Community Development Finance
The article discusses the Open Access Fellowship program, which aims to increase diversity in community development finance by focusing on Black, Hispanic, and Latino professionals. The program offers education, job training, and mentorship to prepare fellows for roles in the niche area of New Markets Tax Credit (NMTC) industry. The founders, Gina Nisbeth and Jeff Monge, established the program to open doors for underrepresented groups in this industry.
Jonathan Lopez, a fellow who grew up in a diverse community, found the program to be a way to give back. While experienced professionals like Desiree Thomas faced challenges breaking into the NMTC industry due to lack of exposure and contacts, the Open Access Fellowship program provided them with the opportunity to gain essential knowledge and connections.
The program takes a three-pronged approach to prepare fellows: education through courses in NMTC and other tax credits, job training through a 160-hour paid placement, and mentorship from trained professionals in the industry. The program is available to candidates at all career stages and has been successful in placing 76% of fellows in community development finance roles.
Overall, the Open Access Fellowship program has been successful in increasing diversity in community development finance by providing the necessary tools, knowledge, and networking opportunities for underrepresented groups to enter and thrive in the industry.
