Nonprofit Quarterly Features BCC in “The CARS Model: Time for a Nonprofit Test Drive?”

Friday, March 9, 2012

Boston Community Capital was recently mentioned in the Nonprofit Quarterly article, “The CARS Model: Time for a Nonprofit Test Drive?”  Written by Rick Cohen, the article discusses the CDFI rating system called CARS.   CARS, which was created by the Opportunity Finance Network (OFN), the national network of CDFIs, started in 2004 as a tool that would standardize the key information about CDFIs and make the information transparent.  Since then, CARS (now independent of OFN) has issued over 300 ratings to 70 CDFIs, including Boston Community Capital.

Cohen explains that “CARS examines more than just a CDFIs real estate and loan portfolio. It is geared to evaluating CDFIs as organizations—how well they articulate their goals, how well they collect and use feedback, whether they are smart enough and capable enough to use feedback to make necessary program and product changes.”