Join us as we hear from leading philanthropic impact investors on how they are expanding their reach and amplifying their mission through an innovative credit tool.
Guarantees backed by strong balance sheets offer an innovative and potentially scaled way for foundations and other mission-oriented investors to use more of their financial strength to support promising community development opportunities that have been held back by perceived or actual risk concerns.
In this vein, the Community Investment Guarantee Pool (CIGP or Pool) was launched in December 2019 to make financial guarantees more accessible and efficient – not only for guarantee users such as community development financial institutions (CDFIs) but also for guarantee providers like foundations. CIGP aggregates nearly $40 million of unfunded commitments from its 12 investors. This is expected to catalyze another $180 million to accelerate equitable community investment in small businesses, climate change and affordable housing with the goal of fostering innovation and learning for the field and encouraging philanthropies to use more of their balance sheets to support mission.
CIGP’s cohort of guarantors includes a unique mix of national foundations (Kresge Foundation,Annie E Casey Foundation, Chan Zuckerberg Initiative, Robert Wood Johnson Foundation), local philanthropies (The California Endowment, Jessie Ball duPont Fund, Phillips Foundation, Gary Community Investments, Seattle Foundation, Weingart Foundation), a health system (Common Spirit), and a CDFI (Virginia Community Capital).
Join us to learn more about this first of its kind effort in the U.S. and its potential to scale philanthropic capital for greater impact in the U.S.
Moderator: Jim Baek, Executive Director, CIGP
Ruby Bolaria-Shifrin, Director, Housing Affordability, Chan Zuckerberg Initiative
Kimberlee Cornett, Director of Impact Investments, Robert Wood Johnson Foundation
Login instructions for this Zoom video conference will be emailed after your registration is completed.
Impact Capital Forum is a 501(c)(3) nonprofit organization. New York, N.Y.