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Tools for Impact Developing the deal flow

Tools for Impact Developing the deal flow. Santa Fe, New Mexico October 21, 2015. Steve Dubb, Director of Special Projects and Senior Advisor to the President. Strategies for Impact Investing. Strategies for Economic Development.

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Tools for Impact Developing the deal flow

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  1. Tools for Impact Developing the deal flow Santa Fe, New Mexico October 21, 2015 Steve Dubb, Director of Special Projects and Senior Advisor to the President

  2. Strategies for Impact Investing

  3. Strategies for Economic Development

  4. The Cleveland FoundationGreater University Circle Initiative *Economic Inclusion sub-strategies

  5. Evergreen Cooperatives

  6. Greater Cincinnati FoundationMinority Business Accelerator • Launched after the shooting of Timothy Thomas in 2001 by Cincinnati police • Secured spending commitments from 40 corporations, nonprofits. • Created nearly 2,000 jobs. • Helped firms grow; average revenue now $29 million. • Set up $2 million loan fund.

  7. Community Wealth Building Strategies • Rocky Mountain Farmers Union Urban Coop Development Center • Rocky Mountain Employee Ownership Center • Coop Professionals Conference • Researching possible creation of Coop Conversion Equity Fund • Community Campus Partnership with local anchor institution (focus engagement: jobs, procurement)

  8. Community Types of Foundation Investment 2013-2014: $500K total • Directed Grants • Responsive Grants • Consultant contracts • Learning Journeys • Community Wealth Building Conferences

  9. An Innovative 30

  10. Thank you! For more information: www.community-wealth.org www.democracycollaborative.org Steve Dubb Director of Special Projects and Advisor to the President Democracy Collaborative steve@democracycollaborative.org

  11. Local Impact Investing for Santa Fe Community Foundation: Why, How Does It Help Build Equity, What Now by Joohee Rand, Director of Strategic Initiatives, Santa Fe Community foundation Presentation for the 2015 NMAG Statewide Summit on Philanthropy October 21, 2015

  12. WHY - Context • Growth in asset and focus on strategic use of assets to create impact • Expand the pool of capital available to address the community needs and fund social impact solutions; Recycle capital for sustainability • Community Leadership: leveraging role of Community Foundation as an anchor institution to influence change • Align investment with donors’ values and stay competitive / relevant

  13. First Impact Investment (before launching formal Local Impact Investment Program) • Investment in the building as a “Philanthropy Hub” (August 2011) - $2.2M • Used for nonprofit technical assistance workshops, community convening, professional advisor programs, and donor programs. • 3~5000 attendees in 100~200 community events and over 50+ Foundation programs annually • Network. Collaboration. Capacity building. Positions SFCF as a “Hub” and anchor institution with visibility

  14. Santa Fe Community Foundation Local Impact Investing Initiative • In 2013, committed 5-10% of its pooled asset to local impact investing ($1.5~3M) • Start with investing in local intermediaries • Focus on regional impact (northern NM) aligned with Foundation’s mission/ends • 6-7 year pilot with two years for placement of assets • $1M in four investments made so far 2014-2015; Additional “conditional commitments” and several active deals in pipeline Direct local investing Working with CDFIs (Conditional commitment in Local grocery coop start-up)

  15. Role of Impact Investing in Creating Equity for SFCF Current Investments • Affordable housing, financial literacy, and financial security for low-moderate income families • Access to capital for low-moderate income, minority entrepreneurs • Low cost lending capital for nonprofits serving low-income families (e.g., quality, early childhood education) • Nonprofit capacity building Potential Opportunities in Pipeline / Commitments • Quality, affordable medical treatment services with wraparound support for drug addiction • Rural economic development • Entrepreneurship Accelerator / Seed Fund • Access to capital and financial services for immigrant families (DACA/DAPA, affordable housing) Deal-based. Not Strategic or Project – based Yet.

  16. Our Challenges: What Would It Take to Broaden Impact Investment in NM for Greater Equity • Stronger intermediary system and capacity (e.g., social enterprises, coop, seed fund) • Stronger, quality deal pipeline • Broader pool of impact investors and collaboration across pipeline • Ability to integrate various capital to meet the whole needs of the project (e.g., risk capital, credit enhancement, grants, TA, research, partnership building) “Building” Using money to create change that otherwise would not happen “Buying” Placing investment dollars in existing products

  17. What Now for SFCF. For NM Impact Investors (Current / Potential)? • Santa Fe Community Foundation • Potential statewide presence through “strategic consolidation” of three community foundations in NM (still in discussions) • Engaging donor advised fund holders and broader investor community • Building broader partnerships in the ecosystem • Integrating grant and other programmatic strategies • Early discussions for potential funder collaboration in building NM impact investing infrastructure • Funder Survey and Roundtable Discussion (September 16, 2015) - W.K. Kellogg Foundation / SFCF hosted with Avivar Capital – revealed interest and key areas for potential collaboration • Working Team to develop proposal exploring options and timeline • Responsive collaboration around deal pipeline, due diligence and investment (e.g., clearing house, pooled funds) • Proactive collaboration for education, field building and ecosystem development

  18. Thank You

  19. Discussion Questions • How do you see impact investing being a tool for your foundation’s work to create equity?

  20. Discussion Questions • What role do you see your foundation playing in making community partners "deal ready" for impact investing?

  21. Discussion Questions • What is needed for you to be able to take the next step with place-based impact investing?

  22. Discussion Questions • How do you see impact investing being a tool for your foundation’s work to create equity? • What role do you see your foundation playing in making community partners "deal ready" for impact investing? • What is needed for you to be able to take the next step with place-based impact investing?

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