The Freedom Recovery Fund
Strengthening The Black Community in Valparaiso
Project Neighbors was founded more than fifty years ago on the premise that Black homeownership is a critical foundation for addressing broader disparities. In its early years, White families in Valparaiso helped subsidize Black families in obtaining and paying mortgages. Over time, the gap between Black and White homeownership has continued to grow. With homeowners possessing 40 times the wealth of renters, the wealth gap has widened as well (U.S. Census Bureau).
In response to this ongoing disparity, Project Neighbors has reaffirmed its commitment to addressing racial equity through deliberate actions and partnerships in housing, education, and the justice system in Valparaiso. Today, Project Neighbors provides affordable rental housing to people from all backgrounds. The Freedom Recovery Fund (FRF) was established to explicitly support Black wealth-building and help close the growing gap.
Our Goals
Led by Project Neighbor's Black board members and staff, the FRF is a sustainable and comprehensive resource for the Black community in Valparaiso.
The FRF funds efforts to challenge policies and practices that contribute to systemic issues and racial inequity.
FRF funding is allocated in a variety of ways through:
- The Financial Empowerment Program (FEP)
- Emergency Grants
- Emerging Entrepreneurs Grants
- Merit Scholarships
Black residents of Porter County are invited to apply.
Questions? Email [email protected].
Apply Today:
Emergency Grants
While building long-term pathways to wealth is the core mission of the Freedom Recovery Fund (FRF), we also recognize that immediate support is sometimes necessary just to make it to tomorrow. Many of the financial challenges Black individuals face stem from sudden income loss—such as furloughs or layoffs—or unexpected expenses, such as medical emergencies, car repairs, or family crises. These personal hardships are often tied to deeper systemic issues such as wage disparities, discriminatory lending practices, and other barriers to economic stability.
The FRF is committed to addressing both long-term structural inequities and urgent, short-term needs. Our Emergency Grants provide small, needs-based financial assistance to help individuals stabilize during times of crisis and continue moving forward.
Black individuals living in Porter County are eligible to apply. Grants are awarded for up to $750, and individuals may apply once every six months. The program distributes approximately 26 grants each year, totaling $20,000 annually. Applications are accepted on a rolling basis, ensuring support is available when it’s needed most.
The Emergency Grant program is one way FRF stands beside our community in times of need—supporting survival today while working toward equity tomorrow.
Financial Empowerment Program (FEP)
Home and business ownership, along with access to education, are critical pillars of a healthy community and essential pathways to building generational wealth. In Valparaiso, only about 17% of Black residents (out of approximately 1,500 people) are homeowners, and even fewer are business owners. Additionally, Black students enrolled in college or university often cite financial hardship as the number one non-academic reason for not completing their degrees. These barriers contribute to ongoing economic disparities and limited wealth-building opportunities in the Black community. The Freedom Recovery Fund (FRF) recognizes the urgent need for intentional and focused support.
The FRF’s Financial Empowerment Program (FEP) is designed as a partnership with a local bank to support Black individuals in Porter County on their paths to financial stability and wealth development. Each year, a cohort of up to ten individuals will be selected to participate in one or both of the stages of the program, depending on their own goals.
Stage 1 (Basic Financial Skills): This two-month program is a combination of online and group and individual in-person components that will provide education on such areas as credit, budgeting, saving, and setting goals. Participants will be expected to save a minimum of $100 during this time. Upon completion, the FRF will award each individual $1000.
Stage 2 (Personal Incentive Accounts): This six-month program is available to anyone who has completed the FRF’s Stage 1 and agrees to keep the $1000 awarded in a savings account for at least the duration of this Stage, which will be composed of a combination of in-person and virtual learning modules. It will also provide more intensive interactions with bank personnel, addressing individual financial goals. At the end of this Stage, the FRF will match at a 4 to 1 rate all savings up to a total of $2000. Thus, participants successfully completing this Stage can attain a total of $10,000 to put toward their financial goals.
Upon completion of both stages, participants will have saved $2,000 and received $8,000 in matched funds, totaling $10,000 to put toward long-term wealth-building goals such as homeownership, education, or starting a business. The timeframe for each cohort will be one year.
The Financial Empowerment Program is a meaningful step toward economic equity—providing knowledge, support, and real financial resources to help individuals build their financial futures.
Applications are currently being accepted for the 2025 cohort. The application deadline is June 15th.
Emerging Entrepreneurs Grants
The Freedom Recovery Fund (FRF) believes that entrepreneurship is a powerful tool for building wealth, self-determination, and community impact. To support and sustain this work, the FRF offers Emerging Entrepreneur Grants to Black individuals in Porter County who have launched their own businesses or not-for-profit organizations.
Each year, three grants of $5,000 are awarded to help early-stage ventures grow, thrive, and continue serving the Black community. These grants are designed to provide a meaningful boost—supporting long-term sustainability, innovation, and impact.
Applications are accepted on a rolling basis, and awards are determined through a review process. If you're a Black entrepreneur or nonprofit founder in Porter County looking to take your mission to the next level, we encourage you to apply.
Merit Scholarship Program
The Freedom Recovery Fund (FRF) is committed to supporting the educational journeys of Black students as a vital part of building long-term wealth and opportunity. The Merit Scholarship Program provides financial support to first-generation, high-achieving Black students in Northwest Indiana, with a focus on those facing systemic and economic disadvantage.
Eligible applicants include Black residents of Lake, Porter, and LaPorte Counties who demonstrate academic excellence. To apply for this scholarship, students must be full-time and enrolled in a degree-seeking program at a two- or four-year accredited college or university. Applicants must also have a current grade point average (GPA) of 3.5 or higher.
Each year, ten scholarships of $1,000 are awarded to students who show exceptional promise. Applications are accepted on a rolling basis, providing flexibility and access throughout the year.
Through this program, FRF aims to uplift the next generation of leaders by helping to ease the financial barriers that too often disrupt educational success.
Frequently Asked Questions about the FRF
