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ALBERT ROBERT PIÑA III

BLACK & LATINO ECONOMIC$

Endowment Fund

The National Minority Community Reinvestment Co-Operative (NMCRC) is a non-profit coalition of minority-led and focused organizations committed to leveling the playing field for Blacks and Latinos by addressing the socio-economic needs of all people of color. NMCRC advocates for fair policies in the banking and financial community; holds lenders and financial institutions accountable for providing racially relevant resources; hosts educational trainings and gatherings; and facilitates access to capital for minority developers, businesses and organizations. The cooperative believes that systemic disinvestment in communities of color must be addressed through sustainable economic development that provides access to capital for majority low to moderate income families. In 2022, under the leadership of Jules Dunham Howie, Dina Harris, and Marcos Morales, the NMCRC launched the Albert Robert Piña III Black and Latino Economic$ Endowment Fund. The Endowment will support the annual National Black and Latino Economic$ Summit, provide regional gatherings, trainings, and networking opportunities for Black and Latino communities to gain access to capital.
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OUR GOAL

Our goal is to seed the endowment with $5 million dollars from banks, corporate partners, and the philanthropic community. We are asking each bank partner to make a minimum initial gift of $250,000 or a commitment of $100,000 a year for the next 3 years. We currently have a total commitment of $850,000 toward Endowment Fund.

$5M

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Once the portfolio is fully endowed, the capital will be used to undergird the work of the National Minority Community Reinvestment Co-operative and the Annual National Black and Latino Economic$ Summit, ensuring over 200 Black and Latino nonprofits and small business owners can gather with the banking community to gain access to capital.

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Albert Piña Bio

It is with great sorrow that we share the passing of our beloved economic justice leader and a great champion of change. Even though Al's swift transition on May 17, 2022, was unexpected, he has left a blueprint for us all to follow as we continue to be about seeking economic justice for Black and Latino communities!
 
After a battle with a major illness, Al Piña decided to use his successful Fortune 25 corporate skills, as well as his military service experience, that led to several business and military awards and medals, to give back to community and country.

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He began working with minority community organizations around the United States for the past 16 years to including serving in a senior executive role with the largest community development corporation in the United States. Through either his leadership, or his participation in financial institutional CRA commitments, it has resulted in over $700 billion of additional bank commitments for community re-investment into minority communities throughout the United States.

 

Al Pina started out his community economic development career as V. P. of Development for the National Council of La Raza and a team member that launched the countries first minority focused housing and commercial real estate CDFI. Al Piña went on to serve as Vice President of Development for the country’s largest Community Development Corporation (TELACU-Los Angeles)

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In 2005, in partnership with the Greenlining Institute, Al Piña took his efforts to Florida and founded the Florida Minority Community Reinvestment Coalition, which is Florida’s first state wide minority focused community economic development collaboration with over 105 participating minority community organizations. As Chairman of FMCRC, Al Piña utilized this position to advocate for increased community reinvestment for Florida minority communities. He led the negotiating team that was successful in the development of over $120 billion dollars of community reinvestment commitments to Florida’s minority and underserved communities by Regions, Wachovia/Wells Fargo, Bank of America, Chase and Fifth Third Bank.

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