Partnership promises to grow impact in building credit and financial capability
July 31, 2012: Mission Asset Fund has been selected to become a new Tipping Point Community grantee and partner. Tipping Point screens nonprofits rigorously to find, fund and partner with the most effective groups connecting Bay Area individuals to the opportunities needed to break the cycle of poverty and achieve economic self-sufficiency.
Since 2005, Tipping Point has raised more than $50 million to educate, employ, house and support nearly 160,000 Bay Area people in need across six counties. MAF will join the portfolio with an initial grant of $100,000. “Tipping Point selected MAF because of our measurable results in the fight against poverty and the impact we are having in building credit and financial capability for low-income families,” said Jose Quinonez, executive director, Mission Asset Fund. “MAF satisfied all Tipping Point’s requirements for funding, including strong leadership, clean financials, and a data driven culture. We are thrilled to become part of Tipping Point’s community.” With support from Tipping Point, MAF will be able to further scale its Lending Circles program and maximize social loan volumes so that more communities across the Bay Area can access the unique benefits of this innovative microfinance program.
Beyond the initial grant, Tipping Point also provides management support such as legal services, communications and business strategy. Tipping Point leverages their connections across sectors with leading Bay Area companies to meet the most critical needs of the organizations in the portfolio. More information about Tipping Point Community is available at Tippingpoint.org.