Oklahoma Center for Nonprofits Receives $10M New Markets Tax Credits Allocation from MetaFund
Media Release
May 23, 2023
OKLAHOMA CITY — A project designed to strengthen and provide a home to Oklahoma’s nonprofit community recently received a sizable financial boost. The Oklahoma Center for Nonprofits (OKCNP) received $10 million of New Markets Tax Credits (NMTC) allocation to support their renovation of the old American Red Cross building at Sixth Street and Lincoln Boulevard in Oklahoma City’s Innovation District. The allocation was provided by MetaFund in combination with financing from BancFirst.
Groundbreaking for the project was held in October 2022. Renovations are scheduled to be finished this fall. Upon completion, the new OKCNP headquarters will serve as a hub for nonprofit advocacy, training, consulting, and networking.
“Nonprofits will have a place to come for whatever they need – a question answered, a training, a desk to use while they’re in Oklahoma City, a space to host a fundraiser,” said Marnie Taylor, President and CEO of OKCNP. “The community that will be created in this building will help carry our sector into the future.”
According to data quoted by the Oklahoma Department of Commerce, Oklahoma has more than 5,000 active nonprofits. They represent 7 percent of the workforce with a combined $16.5 billion in annual revenue.
While the renovated 31,000 square-foot facility will serve as OKCNP offices, more than 60 percent of the building will be open for nonprofit use. Nonprofits will have access to videoconferencing and conference rooms, community workstations, training rooms and event space. The facility will be equipped with state-of-the-art technology allowing for remote interaction with organizations across the state.
MetaFund announced in November 2022 that it had received its seventh NMTC allocation from the U.S. Treasury Department's Community Development Financial Institution (CDFI) Fund. The allocation is used to spur private investment into economic development projects that benefit the community. OKCNP’s building renovation is the first project to be funded from this New Markets Tax Credits allocation.
“Oklahoma nonprofits are contributing to more equitable and thriving communities, helping to heal, educate, shelter, feed, and nurture people across our state,” said Blake Trippet, President of MetaFund. “We are excited to support the amazing work OKCNP does to strengthen these organizations and the asset this project will create for the entire sector.”
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Media Contacts:
Ed Long, MetaFund Chief Impact Officer
Phone: (405) 922-7580
Email: elong@metafund.org
Lauren M. Corbut, OKCNP Vice President of External Affairs
Phone: (918) 625-4450
Email: lcorbut@okcnp.org
About MetaFund
MetaFund is an Oklahoma-based 501(c)(3) nonprofit working with other nonprofits, the private sector, and government toward a just world free of poverty. MetaFund invests in creative solutions for communities, with a primary focus on employment, housing, health, and child well-being. https://www.metafund.org.
About the Oklahoma Center for Nonprofits
The Oklahoma Center for Nonprofits is the state’s preeminent organization convening charitable entities from throughout the state for professional development, consulting, networking, advocacy and recognition. Comprising nearly 1,000 nonprofit members from throughout Oklahoma, OKCNPs primary mission is empowering nonprofits to achieve excellence in their missions. Since 1981, the organization has assisted thousands of individuals and organizations through various programs designed to build capacity and positively impact the lives of Oklahomans. www.OKCNP.org.
