West Creek Financial Group, a nonprofit focused on helping struggling West Creek community members, is seeking $200.5 million in federal financial aid from the U.S. Department of Education, according to a news release.
That money will allow West Creek to expand the nonprofit’s capacity and help it better meet its mission of building a stronger community.
“The West Creek Mission: Strengthen our Community and Prosper,” the release says.
“West Creek has been through some of the toughest times we’ve had to deal with over the past several years.
The impact of our crisis has been profound and continues to ripple through our community, but the financial crisis has also made it possible for us to work together to heal the community.”
The group has been under the direction of the nonprofit for two decades.
The organization is part of the West Creek Foundation, which provides financial support to local and community organizations.
The nonprofit has a $1.2 billion endowment, the release states.
The announcement is the latest in a string of announcements from the West Bank.
Earlier this month, West Creek opened a new branch in New York City and announced plans to open a second branch in the Bronx.
And earlier this month the group announced plans for a new office in the Chicago area.
In addition to financial aid for the expansion, West, which operates its own accounting firm, has requested $1 million from the Federal Emergency Management Agency to assist with its expansion efforts, the statement says.
The Federal Emergency Administration has committed $5 million toward the project, and the West River Regional Development Authority has pledged $2 million, the news release states, noting that the agency is responsible for setting the funding and will oversee construction.