The Bridge Fund of New York City

We are happy that some of our clients are now working but take little comfort in knowing that too many families and individuals in New York City are either still unemployed, underemployed, or already in the municipal shelter system. In fact, in 2011, a record number of individuals -- more than 41,000 -- resided in the municipal shelter system. Almost 17,000 of them were children who, along with their families, spent an average of 11 months in a shelter, the longest average stay in recorded history.

This increase in shelter placement and the continuing demand for Bridge Fund services can be attributed, in great part, to the persistently weak economy and the reduced role of government assistance to the poor. By the end of 2011, the unemployment rate in New York City hovered at about 9 percent; today, it stands at 9.7%, up from 8.8% last year at this time. Sadly, because of the bad economy, the city has had to terminate its $200 million-a-year rent subsidy program for formerly homeless families, while the federal government has reduced funding for the Emergency Food & Shelter Program and other housing initiatives.

Despite these and other challenges, The Bridge Fund of New York City has not wavered in its commitment to the working poor and others who have done much to make our city great, including retirees and veterans. The following figures show just how many needy and deserving families and individuals were aided by the program during 2011.

1. Assistance may be loans or grants, critical information and referrals, budget counseling.
2. Bridge Fund households can receive a combination of loans and grants.
3. Networked Funding is secured by The Bridge Fund partnering with other agencies.
4. Clients' Contributions: Money accumulated by client, but insufficient to resolve housing crisis.
5. Repayments: Clients can repay as little as $5 per month upto $100 per month.