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.

Start Impact Investing

MCF offers various ways to support your impact investing journey.

  • Any MCF member is invited to attend the Impact Investing Network meetings and Minnesota Impact Investing Initiative Semi-Annual Meetings. Dates are listed on MCF's Events Calendar. Whether you're an experienced impact investor or new to the practice, join your peers to advance this valuable tool at your organization.
  • Do you have a question about impact investing? MCF's Executive in Residence for Impact Investing, Susan Hammel, CFA, holds office hours for MCF members on most Mondays. This is a limited service for MCF members; contact Susan to find out what's possible, to start a conversation or to set a meeting.
  • Are you ready to start doing things differently? MCF offers access to legal documents to make a program related investment. Plus, we highlight various other impact investing resources online. These are a few ways we're working to make it easier for you to support your community through impact investing.

MCF Impact Investing Network

In 2014, MCF members created the Impact Investing Network (originally named the Mission Investing Steering Group). As an official MCF peer network, the Impact Investing Network is guided by:

  • Network Co-Chairs: Daniel Lemm, Blandin Foundation and Nikki Foster, Northwest Area Foundation
  • MCF Executive in Residence for Impact Investing, Susan Hammel, CFA
  • MCF Staff Support, Paul Masiarchin, Vice President and Director of Member Services

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.