Community Foundation launches impact investment fund

Community Foundation launches impact investment fund

Group News posted in on 18 April 2018| comments
audience: Community Foundation for Greater Atlanta | last updated: 18 April 2018
Print
||
Rate:

Summary

GoATL Fund provides cost-effective loan capital to advance social impact

The Community Foundation for Greater Atlanta announces the GoATL Fund (GoATL), an impact investment fund designed to support long term sustainability of programs and solutions that address the region’s areas of greatest need. GoATL’s first investment, a $750,000 commitment to Atlanta Neighborhood Development Partnership, Inc. (ANDP) will help grow their successful single-family revitalization programs in order to expand housing affordability in targeted neighborhoods in the region.

The GoATL Fund, the first of its kind in Atlanta, seeks to generate a positive social outcome along with a financial return. Through impact investing, funders look for ways to strategically invest new forms of capital to scale and sustain nonprofits and social-purpose for-profits. Unlike traditional philanthropy that typically relies on grants, GoATL’s impact investments are structured as flexible, cost-effective loans that are expected to be paid back, thus recycling the dollars to consistently fund new initiatives into the future.

“The concept of impact investing has taken hold across the U.S. and it makes sense that the Community Foundation leads the charge here in our region,” said Alicia Philipp, president, Community Foundation for Greater Atlanta. “With years of experience in matching philanthropic resources with community opportunities, we believe that an impact investing model provides an important new tool to drive greater results in a more sustainable way.”

The GoATL Fund intends to make investments primarily through organizations, like ANDP, or other Community Development Financial Institutions (CFDIs), that have the knowledge and expertise of how to deploy loan capital for critical needs in our region.

“GoATL’s investment in ANDP is timely due to our region’s overwhelming need for increased affordable housing,” commented Mark Crosswell, the Community Foundation’s managing director for impact investing and the GoATL Fund. Adding, “ANDP’s model not only creates sustainable living opportunities for many Atlantans, but it also allows these working families to become first-time homebuyers and, in turn, build wealth through homeownership.”

“The most effective approach to stabilizing neighborhoods is multi-pronged,” said John O’Callaghan, president and CEO of ANDP.  “The more we can diversify the number and type of funding partners we have, the more impact we can drive to our region’s most critical needs. Our work is heavily focused on areas that are still recovering from the foreclosure crisis, including Southwest Atlanta, Clayton County and South DeKalb County. Investments in housing bring a ripple effect of added attention to these neighborhoods in terms of attracting new residents, businesses and other essential community services.”

The long-term goal of GoATL is to provide cost-effective, flexible loans to the region’s social initiatives that align with the Community Foundation’s five Impact Areas: Arts, Community Development, Education, Nonprofit Effectiveness and Well-being. Initially capitalized with $10 million in seed capital from the Foundation’s unrestricted assets, the Fund will invest through intermediaries to support such initiatives. More information about the GoATL Fund can be found here.

#  #  #

About the Community Foundation for Greater Atlanta

Since 1951, the Community Foundation for Greater Atlanta has been connecting the passions of philanthropists with the purposes of nonprofits doing that work. With 66 years serving the 23-county Atlanta region and a robust team of experts, the Community Foundation manages the behind-the-scenes details, empowering our donors to focus on the joy of giving. The Community Foundation is a top-20 community foundation nationally (of approximately 800 community foundations) with approximately $1.1 billion (unaudited) in current assets and is Georgia’s second largest foundation. Through its quality services and innovative leadership on community issues, the Foundation received more than $144 million from donors in 2017 and distributed more than $97 million that same year to support nonprofits throughout the region and beyond. In 2016 Charity Navigator named the Community Foundation a four-star rated nonprofit, its top distinction. For more information, visit: cfgreateratlanta.orgor connect with the Foundation via FacebookLinkedIn and Twitter.

Media Contact:
Louise Mulherin, 404.405.1070
lmulherin@cfgreateratlanta.org

Add comment

Login or register to post comments

Comments

Contact

Community Foundation for Greater Atlanta
191 Peachtree Street, NE Suite 1000
Atlanta, GA 30303
United States
Phone: 1 404-688-5525
Fax: 1 404-688-3060

Follow

RSS

This group offers an RSS feed.
 
7520 Rates: May 3.2% April 3.2% March 3.0%

Already a member?

Learn, Share, Gain Insight, Connect, Advance

Join Today For Free!

Join the PGDC community and…

  • Learn through thousands of pages of content, newsletters and forums
  • Share by commenting on and rating content, answering questions in the forums, and writing
  • Gain insight into other disciplines in the field
  • Connect – Interact – Grow
  • Opt-in to Include your profile in our searchable national directory. By default, your identity is protected

…Market yourself to a growing industry