Impact Investing

What is Impact Investing?

Impact investing refers to investments made into companies, organizations and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return. (Source: Global Impact Investing Network (GIIN))

MCF empowers all MCF members who desire to invest their assets for positive and social environmental impact to do so in creative, collaborative and thoughtful ways -- while uplifting MCF’s mission to collectively advance prosperity and equity within Minnesota.

Impact Investing at MCF

In 2014, MCF members created the Mission Investing Steering Group. Due to an overwhelming response to participate, the group eventually grew into the Impact Investing Network. As an official MCF peer network, the group created a charter, established member leadership and MCF staff support. Guided by Susan Hammel, CFA, and MCF Executive in Residence and with the support of Paul Masiarchin, MCF’s Impact Investing Peer Network is co-chaired by Donna Dalton (Mortensen Family Foundation) and Daniel Lemm (Blandin Foundation) in 2021.

The Impact Investing Peer Network focuses on impact investing topics of interest to MCF members such as impact measurement, impact themes including small business financing, Diversity, Equity and Inclusion, and affordable housing, and general impact investing knowledge and education ranging from 101 level to expert.

Impact Investing Network Objectives:

  • Act as a one stop shop for member questions about impact investing.
  • Facilitate engagement for collaboration by MCF members in the Minnesota Impact Investing Initiative (MI3).
  • Explore member-requested impact investing initiatives while providing subject-matter expertise, support and resources for such initiatives.

To learn more about how to get involved with the Impact Investing Network, contact Paul Masiarchin at 612.335.3418.

Minnesota Impact Investing Initiative (MI3)

The Minnesota Impact Investing Initiative (MI3) was created by the Minnesota Council on Foundations and its members in 2017, with a goal to raise $25 million to support affordable housing and small business projects throughout the state of Minnesota. This collaborative was the first in the country – focusing on a fixed income bond fund (part of RBC Global Access Management’s Community Access Capital). Today, MI3 has surpassed its original goal and now aims to reach $100 million.

View the RBC Global Asset Management website for details about MI3.

For more background, learn about supporting BIPOC communities through impact investing through a June 2020 presentation from RBC Global Access Management: view the video or see the PowerPoint deck.

Join the Minnesota Impact Investing Initiative (MI3)

  • MCF Members: If you're interested in becoming part of MI3, or have questions about impact investing for your organization, email Susan Hammel.
  • Non-MCF Members: If you are a foundation or institutional investor seeking information related to MI3’s financial performance and investment opportunities, please contact Mindy Frye, Institutional Portfolio Manager for Impact Investing at RBC Global Asset Management, Inc. at 612-376-7112.

Integrated Capital Recovery Program

Integrated Capital Recovery Program was developed to encourage foundations to provide loans, PRIs and other types of patient capital to Community Development Financial Institutions (CDFIs) to get resources flowing to small businesses and nonprofits after the dual crises of COVID and the racial injustices highlighted after the killing of George Floyd. The program prioritized support for small businesses and nonprofits led by women, people from Black, Indigenous, or People of Color (BIPOC) communities, community members who identify as LGBTQ or disabled, and people from rural communities. Learn more online.