CHEFA hosted its first roadshow event on Thursday, November 14, 2024 on Quinnipiac University’s North Haven campus. The purpose of the event was to present an overview of current financing and grant programs offered by CHEFA to help fund the needs of Connecticut’s nonprofits. The event was well attended by nonprofits from across the state. […]

At the heart of the New Canaan community, the YMCA has long been a vital resource, serving thousands of residents of all ages with programs that promote youth development, healthy living, and social responsibility. In addition to its role in providing health and wellness services, the YMCA has also served as an emergency shelter during […]

At the Board of Directors Meeting held on May 15th, Managing Director Michael Morris presented a review of CHEFA’s Hospital Sector portfolio, which consists of 34 bond series totaling approximately $2.5 billion for 12 issuing entities.

At the Board of Directors Meeting held on May 15th, Compliance Specialist Krista Johnson presented a review of CHEFA’s Senior Living Sector (aka Life Plan Communities) portfolio, which consists of 13 bond series totaling approximately $428.4 million.

On June 25, 2024, CHEFA hosted its client webinar: Harnessing AI: Transforming Finance and the Municipal Bond Market.

On July 10, 2024, Goodwin University closed its first bond issue with CHEFA in the amount of $47.145 million. This was CHEFA’s first bond issue with a Social Bonds designation.

In the realm of Connecticut philanthropy, an innovative enterprise capital grant award from the Connecticut Health and Educational Facilities Authority (CHEFA) is helping the Hamden-based non-profit, Freedom Reads to build “freedom libraries,” in every correctional facility throughout the country, starting right here in Connecticut.

Earlier this month, CHEFA Executive Director, Jeanette W. Weldon, and CHEFA Managing Director, Michael Morris, joined Connecticut Children’s Medical Center President, James E. Shmerling, Mayor of Hartford, Arunan Arulampalam, and Commissioner of the Department of Public Health Manisha Juthani to commemorate the final beams being placed on top of the new 252,500 square foot tower. 

Earlier this month, experts from the philanthropic and nonprofit sectors came together for the annual CHEFA Nonprofit Forum. With the theme “Career Readiness: How Current Workforce Trends Affect Mission-Driven Nonprofits,” the event aimed to explore the challenges and opportunities in preparing individuals for the evolving job market.

At the Board of Directors Meeting held on March 19th, Ms. Johnson, Compliance Specialist, presented a review of CHEFA’s Higher Education Sector report, which includes financial operating results for FY 2023 and market demand results for FY 2024. This sector report reviews the performance of the ten private institutions that comprise CHEFA’s higher education portfolio, consisting of 61 bond series with $4.92 billion outstanding.

As we step into the dawn of a new year, I am delighted to announce that CHEFA has settled in to our new offices at 1 Financial Plaza, symbolizing a fresh chapter in our story of growth and excellence. – Jeanette W. Weldon

CHEFA provides a tax-exempt financing alternative (“EasyLoan Program”) for the purchase of capital equipment and associated improvements.

If your organization is interested learning more about this Program and how it could address your financing needs, please contact Dan Kurowski, Manager of Program Development at dkurowski@CHEFA.com.

As we begin the new year, I am filled with gratitude and pride as I reflect on CHEFA’s meaningful accomplishments in 2023. Our commitment to enhancing the welfare and prosperity of the citizens of the State of Connecticut by providing financial assistance to the state’s non-profit entities has driven our efforts and initiatives throughout the year.

CHEFA is preparing to build on the successes of the past year by pursuing several legislative initiatives that will support Connecticut’s economy, workforce, and increase access to post-secondary education. Here’s a look at what we’ll be working on in 2024: Increasing access to childcare: Dollar-for-dollar there is no better investment in Connecticut’s workforce than those […]

Recent legislation has expanded CHEFA’s authority to finance working capital expenses for Connecticut’s nonprofits. CHEFA’s staff has begun researching programs and would like to adopt a program that we think may be beneficial to our clients.

Proton therapy is a form of radiation treatment that disrupts and destroys tumor cells using precisely delivered energy. In comparison to traditional radiation treatment, proton therapy allows doctors to have better control where the energy is released, therefore impacting less healthy tissue and causing potentially fewer side effects.

In the world of municipal bonds, setting the order priority is a key move when distributing bonds in the primary market. It’s a decision in the hands of the issuing entity and it carries big weight, impacting bond allocation and compensation for the involved firms.

In a collaborative effort, CHEFA recently embarked on an insightful site visit with Executive Staff from the American School f0r the Deaf, and Senator Derek Slap, Representative Jillian Gilchrest, and Representative James Sanchez. This initiative is part of CHEFA in the Community, showcasing our commitment to empower communities through education. Explore how CHEFA is working with ASD to enhance educational access for all Connecticut residents.

On June 7, 2023, Governor Ned Lamont signed Senate Bill 1104 into law, thereby modernizing and expanding CHEFA’s statutory authority. The key feature of the new law, Public Act 23-11 expands the definition of Project beyond brick and mortar to allow CHEFA to finance programs or services that is in furtherance of the organization or […]

According to recent reports from leading financial experts, the municipal bond market has been a turbulent ride in 2023. Factors such as bank failures, rate volatility, uncertainty surrounding the Federal Reserve’s policies, and weakened investor demand have shaped the market’s performance. Despite a strong start to the year, investors quickly encountered these challenges, adjusting to […]

We are delighted to announce that the CHEFA Board of Directors has granted approval for the Brunswick School Issue, Series E, in the amount of up to $30 million. This decision was made during the June 21, 2023 Board Meeting, marking a significant milestone in the school’s development.

At the Board of Directors Meeting held on May 17th, Staff presented its annual review of the Authority’s Hospital portfolio, which included financial operating results for FY 2022, key utilization metrics and bond issue activity trends since FY 2019. The financial operating performance review was based on six stand-alone hospitals (including the Parent and subsidiaries) […]

Quinnipiac University is celebrating a major financial milestone after successfully pricing its tax-exempt, Series N Bonds. The University raised $58.955 million from the sale, which received a staggering $101.4 million worth of orders from investors.

In March, CHEFA closed a $50,000 loan with Silvermine Guild of Artists, Inc. out of New Canaan, CT. This loan will enable Silvermine to purchase new tools and equipment for its various art studios, as well as update its telephone system. This is the first loan closed after CHEFA expanded its Revolving Loan Fund to include all 501(c)(3) organizations.

Did you know that the CHEFA Community Development Corporation (CHEFA CDC), a subsidiary of CHEFA, is a certified Community Development Entity and eligible to apply for Federal New Markets Tax Credits on behalf of nonprofits that serve Connecticut’s low-income communities?

At the Board of Directors Meeting held on March 22nd, Management presented a review of its Higher Education Sector report for FY 2022. This sector report reviews the performance of the ten private institutions and the Connecticut State University System that comprise CHEFA’s higher education portfolio, which consists of 60 bond series with $4.93 billion outstanding.

CHEFA recently committed more than $1 million as part of the John M. Biancamano CHEFA Client Grant Program to support important programming throughout the state. Click here to learn more about how these funds are being used to support important initiatives throughout Connecticut, including programming to support healthcare workforce development, fight obesity, and increase access to STEM learning opportunities.

CHESLA Executive Director Jeanette W. Weldon & Assistant Director Josh Hurlock recently interviewed with NBC CT’s Jane Caffrey to discuss the findings of the CHESLA economic impact study.

On November 8, 2022, the Hopkins School successfully priced its $23.63 million, publicly rated, tax-exempt bond offering through CHEFA. Hopkins School, founded in 1660, is Connecticut’s oldest educational institution, serving day students in grades seven thru twelve and based in New Haven.

CHEFA has expanded its Revolving Loan Fund Program to serve all Connecticut based nonprofits whose missions fall within designated sectors and has released the Annual Funding Cycle Notice: 2023A. This Notice makes funding available up to $50,000 to eligible nonprofits for purposes of financing capital projects. CHEFA is accepting loan applications on a first come, […]

This report was undertaken at the request of the Connecticut Higher Education Supplemental Loan Authority (CHESLA) to determine the economic impact of its college loan and scholarship program. CHESLA is a quasi-public entity of the state of Connecticut charged with helping to make college more affordable and attainable for the citizens of the state of […]

CHESLA held a press conference with Governor Ned Lamont, Lieutenant Governor Susan Bysiewicz and the State Department of Education to announce the launch of the CHESLA Alliance District Teacher Loan Subsidy Program.

The Center for Effective Philanthropy published a piece by Betty Sugerman Weintraub, CHEFA Manager of Grant Programs and Philanthropic Outreach, highlighting the need for philanthropy to fund capital infrastructure needs for nonprofit organizations. CHEFA is among the only Connecticut funders allowing organizations to apply for capital or program grants.