LMI Survey: Funding Remains a Challenge for SomeSeptember 1, 2015
Understanding current economic conditions within the Tenth District is an important component of the research conducted by the Federal Reserve Bank of Kansas City. To better understand current conditions affecting low-and moderate-income (LMI) populations, the bank conducts a biannual survey of organizations serving LMI populations. Respondents to the LMI Survey are asked about changes in their organization’s funding and capacity to serve clients, as well as changes in their clients’ access to credit, jobs and affordable housing.
While most respondents to the July 2015 survey indicated funding opportunities were little changed from the previous quarter, the remainder mostly reported deterioration. Some reported funders had tightened standards, making qualification for funds more challenging. Other contacts indicated declines in state and federal funding had reduced financial resources while also raising the demand for services.
Despite a consensus that funding had tightened modestly, respondents indicated their organizations had maintained their capacity to meet their clients’ needs. Organization capacity, the measure of an organization’s ability to provide services—including factors other than funding—was little changed, remaining near neutral at 94.8.
If you work for an organization serving LMI populations within the Tenth District and are interested in participating in the LMI Survey you can sign up here.