“We want to help them not just survive, but thrive. The goal is to have people feel safe and secure in their environment.”
Safe and affordable housing is a foundational part of providing people with a better and brighter future. Going beyond that first step to also ensure that residents have the opportunities they deserve to continue to grow and thrive is a cornerstone of what the people behind MRK Partners seek to do.
“Affordable housing is about people — the teachers, nurses, first responders, seniors and young professionals who are the backbone of our communities,” said MRK Partners Founder and President Sydne Garchik in an interview with the Multifamily Impact Council. “By addressing their needs and fostering connection, opportunity, and resilience, we create environments that enrich lives, strengthen neighborhoods, and uplift entire cities.”
Addressing the clear need for more affordable housing options for people and families across America is a key part of ensuring that more people have the access to a quality life, but it is just one piece of the bigger picture. Once housing is secured, what additional steps can be taken to support residents?
One of the major projects that Sydne Garchik, along with Carlee Chiate and Marc Russell, an experienced investment advisor, have taken on is the creation and growth of BLOOM, a non-profit organization focused on cultivating equitable opportunities for upward mobility through educational advancement, financial empowerment and community engagement. Founded by MRK Partners leadership, BLOOM operates as an independent non-profit working alongside MRK to support residents in their long-term success.
“I am a social worker by training,” said Carlee, the Director of BLOOM. “When I was first hired at MRK, I said to Sydne that we need to start a non-profit to be able to do all of the things that we want to do to help our residents.”
It took about three years for the idea to become a reality. While Carlee is currently the only full-time employee, Jesse Garchik and the Board of Directors — Sydne Garchik, Marc Russell, Dwayne George, and Katrina Matthews — assist with running the operation.
The initial seed of the idea that eventually became BLOOM was centered around providing people with the financial opportunity to invest in real estate and in owning property. As roots began to take hold, the conversation started to shift more towards what residents are looking to help actually afford. While the idea of buying a home may be a possibility for a handful of people living in the affordable housing communities, the majority are not in a place to take advantage of that idea.
“Some of them are struggling with just starting a savings account, or having to choose between bread and gas,” said Carlee. “My heart is focused on uplifting people and helping them be whoever they want to be. How can we support people in reaching their dreams or simply improving their quality of life? Ideally, we want to help them not just survive, but thrive. The goal is to have people feel safe and secure in their environment.”
BLOOM is currently focused on two primary objectives — providing scholarships, and providing tools to grow financial literacy. For the first objective, a major focus on the creation of the scholarship program was to ensure that it was accessible to everybody and didn’t just focus on high school graduates looking to go to a four-year college. Single parents trying to make a difference in their children’s lives, adults looking to switch careers, people looking to enter into trade school — BLOOM’s mission is to create opportunities that are aligned with the goals and interests of the people it aims to support.
“I think that’s the biggest piece, is adapting to the changing environment and changing needs of the residents,” said Jesse. “We want to know firsthand what it is that matters to the person. Then we can put time and effort into creating something that fits their needs. Otherwise we’re just another non-profit out there doing great work for sure, but doing great work that no one really needs or has asked for. And what’s the point in that? That’s just a waste of everyone’s time, effort, and resources.”
For the second objective, expanding access to financial tools is a key step toward homeownership for those ready to take that leap while also providing a foundation of financial stability that many have never had.
“One of my big beliefs is that a large component of the inequality that we see in this country is tied to a lack of financial literacy,” said Marc. “I think that lack of financial literacy is a significant barrier that holds a lot of people back from achieving the goals that they have for themselves and for their families.”
Far too often, this lack of access to key resources is a barrier that prevents people from taking the next step in their lives. BLOOM seeks to eliminate this hurdle and give people looking to advance their educational and financial journeys the opportunities, literacy, and resources necessary to take those very steps forward.
“There are a lot of things that we can take for granted — that I take for granted — that can make a huge difference,” said Marc. “Just having a credit score is one. Having someone to talk about the right way to set up different kinds of bank accounts. Making sure that you have good credit. All of these things are doable, but it’s just a matter of helping folks and putting them in a position where they can bring their best selves to the table and accomplish their goals. It’s really just a matter of removing the impediments for people.”
What’s Next for BLOOM?
While BLOOM started by granting scholarships to members of the communities both young and old, the organization is constantly thinking about the future and how it can continue to provide new opportunities to more people. Recently, BLOOM and Operation HOPE — an organization founded in 1992 working to “[disrupt] poverty for millions of low and moderate-income youth and adults across the nation” — joined forces to provide additional avenues for growing financial literacy.
“Hopefully we’re just getting started,” said Marc. “I also see a big opportunity to extend the communities we serve well beyond where we are now. I would really love to see BLOOM take off and really grow so that we can benefit from some scale in the organization and help a broader number of people.”
While BLOOM continues to dream big, the people running this organization understand that progress takes intention, doing things in the right order, and not scaling before it’s time to scale. Taking these informed steps and knowing exactly which direction they want to move in is a key part of maintaining healthy and steady growth. This pragmatic approach is built on balancing the continued expansion of how they can help people — tutoring, scholarships, career training, etc. — with exploring ways to ensure that they have the financial resources to build sustainably.
“My favorite part of my job is being with the clients,” said Carlee. “I don’t get to be with them as much as I’d like, but we host events regularly, and the second I am in the presence of the people we serve, I am an open vessel to listen, receive, hear, and support in whatever way I can. The biggest challenge that we face is buy in and engagement. We can make the flyers as pretty as we want, we can send emails out, we can post on social media, but getting people to show up and engage can be a challenge.”
It takes dedication, commitment, and time to earn that trust and spread this type of message, but it’s something that the people running this organization are intent on achieving. Volunteers, both those from within the communities that BLOOM serves and from other walks of life, are a key part of the continued growth of the organization.
Carlee and the dedicated team behind the organization are committed to connecting with the right people and communities to create something truly impactful. “I know we would all like to do everything ourselves, but the reality is that this world needs a lot of people rowing in the same direction,” said Marc.
If you’re interested in keeping up to date with BLOOM’s initiatives, the best way to do that is by following them on social media. You can find them on LinkedIn, Instagram, and Facebook. If you are interested in supporting BLOOM’s programs, you can learn more here on their website.