CHEFA Insights for October 2024

CHEFA’s Capital Investments Loan Program Fuels Critical Energy Efficiency Upgrades at the New Canaan YMCA

Now, thanks to an innovative energy efficiency project supported by CHEFA’s Capital Investments Loan Program, the YMCA is preparing to expand its ability to fulfill this important function while simultaneously reducing its environmental impact.

On August 1, 2024 CHEFA made a $500,000 loan to the New Canaan YMCA from its Capital Investments Loan Program, which is designed to provide affordable financing to non-profit organizations for capital improvements. For the YMCA, this funding will support the installation of a Combined Heat and Power (CHP) unit and a Battery Energy Storage System (BESS). These cutting-edge energy systems are part of a broader project aimed at increasing energy efficiency and ensuring that the YMCA is always ready to serve as an emergency shelter for the town, especially during severe storms.

The energy efficiency upgrades represent a significant leap forward in the YMCA’s sustainability efforts. By installing the CHP unit, which generates electricity while repurposing heat, and the BESS, which stores energy for use during peak demand and emergencies, the YMCA will drastically reduce its reliance on the local power grid. The CHP unit is expected to generate between 50% and 90% of the YMCA’s electricity needs, cutting its carbon emissions by two-thirds and positioning the facility as a model for environmentally responsible operations.

But the project’s benefits go beyond sustainability. The installation of a permanent, energy-efficient generator will enable the YMCA to operate continuously as the town’s official emergency shelter. During past storms, the YMCA has played a crucial role in providing residents with a safe haven—offering heat, showers, device charging, and general respite. However, in those instances, the facility had to rely on rented diesel generators, which were expensive, difficult to transport, and dependent on weather forecasts. With the new system in place, the YMCA will always be ready to support the community in times of crisis, providing reliable emergency services more efficiently and at a lower cost.

This project also offers a long-term financial benefit for the YMCA through operational savings resulting from reduced utility and water consumption. These savings will allow the YMCA to reinvest in its core mission—serving the community through its diverse range of programs, from early childhood education to senior wellness initiatives. In the aftermath of the COVID-19 pandemic, when non-profit organizations like the YMCA have faced unprecedented financial challenges, these savings come at a critical time.

CHEFA’s Capital Investments Loan Program has proven to be a key resource for non-profits like the New Canaan YMCA. By providing access to affordable financing for capital improvements, the fund helps organizations enhance their services and infrastructure while supporting long-term financial health. If your organization has a need for affordable financing, please reach out to Dan Kurowski at dkurowski@chefa.com or check our website for more information on the program’s terms.

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CHEFA Enterprise Capital Grant Program is Open!

Applicants can request unrestricted grant funding for up to $500,000 to empower them to better address societal challenges in Connecticut and achieve their missions more effectively.

The FY 2026 Enterprise Capital Grant Program intends to make innovative investments which may fund the launch, stabilization or scaling of an organization and its vision and mission. CHEFA will consider Letters of Interest which fund investments such as:

• Capacity Building and Investment to Enhance Organizational Efficiency
• Program Expansion to Increase Reach and Impact
• Innovative or Pilot Projects
• Initiatives that Promote Sustainability

Recent awardees of prior Enterprise Capital Grant Program Cycles include All Our Kin and Freedom Reads. All Out Kin was awarded $250,000 to expand its model to improve the quality of home-based child care providers. Freedom Reads was awarded $400,000 to expand its establishment of libraries in Connecticut prisons.

For more information, please refer to the Request for LOIs on our website at Enterprise Capital Grant Program or contact Dan Kurowski at dkurowski@chefa.com.

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Funding Connecticut Nonprofits: How CHEFA Can Fund Your Next Initiative

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CHEFA 60th Anniversary!

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