Impact Investing

More than $19 million has now been committed to the impact investing collaborative announced by the Minnesota Council on Foundations and members early in 2017. The Minnesota-focused fixed income bond fund, part of RBC Global Access Management’s Community Access Capital, aims to reach $20 to 25 million this year. The fund invests in securities backed by affordable housing and small business projects throughout Minnesota.
 
With this first-of-its-kind in the nation impact investing collaborative, Minnesota foundations are aligning even more of their assets with mission and continuing a legacy of philanthropic leadership that exceeds their always-generous charitable grantmaking, 

Special thanks to Otto Bremer Trust for increasing support for two more years of Susan Hammel’s impact investing executive residency. Thanks to OBT's generosity and the Bush Foundation’s support of her second year, Susan is available to talk with any MCF member about the fund and answer any other impact investing questions that arise. 

MCF members—Bush Foundation, The McKnight Foundation and Otto Bremer Trust—are the lead institutions participating in the impact investing collaborative. They are joined by the Minneapolis Foundation, Minnesota Council on Foundations, Mortenson Family Foundation and Sundance Family Foundation. At least eight other foundations are currently bringing the opportunity through their internal review processes. 

Pictured below: The Winona Arms Assisted Living Facility in Winona, Minnesota, is an example of a typical RBC Access Capital investment. Winona Arms is covered under the Section 202 Program, which helps expand the supply of affordable housing with supportive services for the elderly. It provides very low-income elderly with options that allow them to live independently but in an environment that provides support activities such as cleaning, cooking and transportation.

For more on the Impact Investing Collaborative, please see the following resources: 

For more information: