MEMIC’s Post

The U.S. child care system is broken, and nearly every family feels the impact. Employers also struggle to recruit and retain talent due to the lack of affordable, quality child care. It's time for a national effort involving government, communities and businesses to develop solutions. Forward-thinking businesses understand that child care is an economic issue. Studies show that the lack of affordable child care hinders business growth and employee productivity. Innovative companies like Mazda and UPS are leading the way by integrating child care solutions into their benefits packages. We are committed to helping children and families thrive. By partnering with businesses and organizations, we aim to make child care more accessible for all families. Our investment in Mission Driven Finance’s CARE fund is just one example of how we support child care providers and expand their capacity. When businesses prioritize child care, everyone benefits – employees, the economy and the bottom line. Let's work together to create a more supportive and inclusive child care system. Learn more from WKKF’s Senior Program Officer Jon-Paul B. here: https://wkkf.co/urpw U.S. Chamber of Commerce Foundation

Child care access is an ongoing challenge facing Ohio families and employers. We need solutions that will both increase capacity and address affordability. Last month, Ohio House Bill 484 was introduced. This bill allocates $10 million to create a grant fund for employers looking to provide onsite or near-site child care facilities, either by building brand-new child care centers or partnering with existing providers to ensure their workforce has access to care. For families, this means peace of mind and the ability to pursue a career without sacrificing their children's well-being. And for employers, it means a happier, more productive workforce. Take action with us! Legislators need to hear that child care is a priority for Ohio families and communities. Contact your state representative today and ask them to support House Bill 484! https://lnkd.in/gFHmgZS9

Child care workers are the unsung heroes in their communities, providing critical care during the most formative years of a child’s life. Yet, they often earn poverty-level wages and face a lack of support. The LIFT Fund, with support from the W.K. Kellogg Foundation, is changing that through an innovative partnership between philanthropy and labor. One example of this impact is WECAN!, a New Jersey-based initiative powered by New Jersey Communities United and CWA Local 1037. WECAN! mobilizes child care providers like Joanne Richards, helping them organize, advocate for better working conditions, and build stronger communities. During the pandemic, WECAN! trained over 350 child care workers in health and safety, proving the power of organized labor in addressing urgent needs. As the child care crisis continues nationwide, WECAN! is paving the way for a more equitable and supportive future for child care providers and the families they serve. https://wkkf.co/1f8q

My colleague Jon-Paul B. recently wrote an important piece for the U.S. Chamber of Commerce Foundation highlighting innovative partnerships and solutions addressing child care challenges, benefiting families, businesses, and the economy. He makes many important points–especially that access to quality, affordable child care affects the vast majority of families in the United States, not just those who live in households with low-incomes. But the main point I want to lift up is about how child care centers themselves make up an important business sector and highlight ways we are thinking about how to strengthen those businesses and help their owners build long-term wealth by being able to invest in owning the real estate where they provide services. He says “We know that child care centers themselves make up an oft-overlooked business sector. The vast majority of child care centers are small businesses. The Kellogg Foundation recently invested in Mission Driven Finance’s child care real estate investment trust fund, Care Access Real Estate (CARE).  CARE purchases, renovates, and leases houses and centers to child care providers as a child care-friendly and socially just landlord so they can expand to serve more children and families. The fund also shares half of any appreciation profits with tenants to help providers purchase their facility from the fund. To date, the fund has raised $10.6 million in total investor capital and invested $8.2 million in properties to be used by child care providers across two states. This type of investment is critical to bolstering the child care system because it addresses needs that the public sector cannot—in this case, providing the real estate to grow child care businesses. This kind of thinking about how to strengthen the sector as a whole will make child care easier to access for all families in the United States, regardless of income. Read Jon-Paul’s entire piece at the link in the comments below. #childcare #innovation

Non Profit Childcare leaders in TN are eligible for a grant if they can show employer partnership and capacity growth initiatives. If your a local childcare non profit in Tennessee and do not have an employer support mechanism setup, CareConnect can quickly support you to qualify for this grant. Government Investment in Employer + Non Profit Relationships is the model of the future. https://lnkd.in/eefM-Juz

States that make investments in technology upgrades see workforce development, quality improvement initiatives, and increased the supply of child care slots. A recent report emphasizes the role of the Department of Health and Human Services’ Office of Child Care (OCC) in supporting states. 🔧 Guidance and technical assistance 💸 Expanding Subsidy Eligibility 🤱 Provider Payment rates based on cost modeling Michigan highlights their partnership with Employers in the region to further stabilize the workforce management and the impacts of working parents. The study solidifies our views that Government, CCR&R's, and Employers all supporting providers is the coalition every state would benefit from. While the report does not specifically address the role of CCR&Rs in managing subsidies to providers, the implications for CCR&Rs are significant. They are at the forefront of implementing these changes, which can offer opportunities to enhance the child care landscape. We stand behind those supporting subsidy management and will continue to support them. It's almost as if they stole our roadmap from 2021. :) 🌟 Coordinated enrollment technology 🌟 Advanced payment provider program 🌟 Employer subsidy technology Go to the link and download the report! It was a great read. & If you're team is looking to enhance your platform, give better access to parents and help your CCR&R deploy the new subsidy rules issued by the White House feel free to send me DM directly. https://lnkd.in/gDuHm3qP

This is important - it is so necessary for the impact investing space to contribute to early child welfare and make improvements in the family services sector.

The child care crisis is detrimental to young children, families, and the economic vitality of communities. It is going to take public and private investments across all levels –  including from government, philanthropy, and employers – to ensure quality, affordable, and accessible child care. We are pleased that our most recent report on the supply and demand of child care in DC was cited by Axios, and that this important conversation continues to be elevated to support families. https://lnkd.in/eQgffcbm

If the current agencies managing the childcare industry aren’t paying attention, they’ll soon see more and more of their contracts move to VC backed EdTech startups and private equity firms. The digitization of the childcare industry is far behind the curve. The monetization of access to providers has already been in full swing for years. The digital transformation of government and agency relationships is a 2024 issue. We thankfully aren’t looking to replace the R&R’s, just help them compete. Shared services and partnerships has kept the industry alive today. It will be the vessel to keep it in the future. #childcare #education #childcareproviders #nonprofit https://lnkd.in/eJjT6nDa