SUMMIT, NJ - Claas Ehlers, president of Summit-based national nonprofit Family Promise, has been named to the Federal Reserve Bank of New York’s Community Advisory Group (CAG), which is comprised of leaders of nonprofit organizations, community development organizations, and philanthropic foundations from throughout the Federal Reserve’s Second District.
Community Advisory Group members will provide the New York Fed a real-time view of the issues faced by low-income communities across the Second District.
In addition to Ehlers, CAG members include:
- Kate Fish, Executive Director, ANCA
- Eduardo Carrera, President, Boys & Girls Clubs of Puerto Rico
- J. Michael Armstrong, Chief Executive Officer, Community Hope
- Jessamyn Waldman Rodriguez, Founder and CEO, Hot Bread Kitchen
- Michael Martin, Executive Director, Native American Community Services
- Deyanira Del Rio, Co-Director, New Economy Project
- Stuart J. Mitchell, President and CEO, PathStone
- Diosdado Gica, Chief Program Officer, SAGE
- William Goodloe, President and CEO, Sponsors for Educational Opportunity
- Mae Watson Grote, Founder and CEO, The Financial Clinic
- Joseph Carbone, President and CEO, The WorkPlace
Having already met in mid-April, the Group will meet at least three additional times this year. The initial meeting resulted in a lively exchange of ideas as the members shared their diverse expertise on challenges facing the populations they serve, while the Fed provided insightful analysis on numerous socio-economic trends and their effects.
Ehlers was enthusiastic about opportunities the CAG presents. “As the national leader on the issue, it is vital that Family Promise have a voice in decisions that affect family homelessness.The families we serve are often left out of the equation when attention is turned to economic development and opportunity. We are thrilled to be able to advocate on their behalf and underscore the connection between financial policy and housing.”
The CAG’s primary goal is to provide the Fed with a more thorough understanding of the economy’s impact on communities and individuals. CAG members are selected based on their experience and expertise, and their ability to represent specific communities -- such as youth, seniors, veterans, immigrants and rural populations. The initial set of CAG members includes leaders in the areas of community development, community investment, financial inclusion and workforce development.
“The New York Fed’s region is home to incredibly diverse populations. The Community Advisory Group will offer critical, firsthand insight about the economic opportunities and challenges they are experiencing. This will fill knowledge gaps about how various groups are faring, which can inform our programs and research,” said Anand Marri, vice president for Outreach & Education at the New York Fed.