Minorities Profit From Nonprofits
Nonprofit community development corporations provided $191 million in construction contracts to minority-owned firms between 2002 and 2007, according to results of a Massachusetts Association of Community Development Corporations study.
The Boston-based association said the study examined data on 169 affordable housing projects sponsored by CDCs, other nonprofit developers and for-profit firms. The study found that more than two-thirds of the time, nonprofit CDCs exceed or come within 10 percent of the goals they set for minority hiring and minority-owned business contracting.
Minority-owned businesses accounted for nearly 25 percent of the $778 million in construction projects undertaken by MACDC members between 2002 and 2007, the study found. Minorities accounted for 43 percent of the workforce on those jobs.
Most of those jobs were union jobs, the study found. Projects that used union labor had higher rates of minority contractors and minority workers.
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