Community Foundations and Impact Investing
Forbes reports that a growing number of community foundations are using impact investing to achieve their mission.
The article is based on findings in A New Anchor Mission for a New Century, a new report issued by the Maryland-based Democracy Collaborative. The authors studied and report on 30 innovative community foundations (29 in the States and one from Edmonton) that are doing much more than grant-making to effect change in their communities.
In addition to highlighting the objectives, benefits, barriers and the steps for starting an impact investing program, the report identifies the following four strategies:
- Partnering with community development financial institutions (CDFIs)
- Creating loan pools
- Providing loan guarnatees
- Direct investment in local economic development efforts.
The report also provides further details on each of the 30 foundations.