Social Venture Partners’ Project XLR8 to invest in Cornerstone Renter Equity

Cornerstone Renter Equity has been selected by Social Venture Partners as its next Project XLR8 investee.  

“Cornerstone Renter Equity has all of the attributes we look for in an investee partner,” said Chris Shroat, chair of Social Venture Parners and head of consumer support shared services at Fifth Third Bank. “They have an innovative idea, a focus on equity, a spirit of collaboration and a willingness to try new things.” Cornerstone was one of five nonprofits that participated in SVP’s eight-month Project XLR8 program which focuses on driving social innovation and equity in Greater Cincinnati. 

Chris Shroat
Chris Shroat, chair of Social Venture Parners

Located in Over-the-Rhine, Cornerstone Renter Equity is a community-focused organization that provides a customized family-centered approach to asset building and personal growth. Cornerstone’s primary program, The Equity Club, enables renters in affordable housing units to earn and save extra income. Members can earn up to $2,000 a  year. They do this by participating in individual and community-building activities.  

“The goal of The Equity Club is for members to understand how to build assets to achieve goals and dreams, as well as to provide stability and security,” said Alisa Berry, CSRE’s executive director. “We  design our programs to empower participants, so they have a voice in their future and community.”  Cornerstone has evolved its program over more than 20 years of service in OTR.  

“We are delighted to be selected as an investee,” said Larry Williams, CSRE’s chair. “The experience of Project XLR8 was very helpful for us to look at our organization in new and different ways. We are excited to continue the relationship with SVP and further our mission and goals.”  

As SVP’s investee, Cornerstone will receive up to $20,000 in funding annually for the next three years. Dedicated volunteer teams from SVP will help CSRE in several ways including refining and expanding its programs and Equity Club membership, providing marketing and communications counsel, and identifying new fundraising strategies and other opportunities.  

During Project XLR8, SVP partners provided resources and skills to support nonprofit participants chosen for the program. Finalists presented their ideas and plans at SVP’s Idea Expo and also shared how their organizations and programs connect to SVP’s goals to drive social innovation and equity in the Greater Cincinnati area.  

The next application process for Project XLR8 begins in Summer 2023.

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