National Spotlight Shines on MCF's Integrated Capital Program

Over the past year, MCF has led the Integrated Capital Recovery Program to address crisis recovery and reduce the racial wealth gap. The program funds Community Development Financial Institutions (CDFIs) which direct the resources to local community needs. The effort is supporting investment strategies that are garnering national attention.

Two of the CDFI-led initiatives in MCF’s program – Community Asset Transition Fund and Minnesota Inclusive Growth Fund – are highlighted in the national impact investing newspaper, Impact Alpha.

• Through the Community Asset Transition Fund, LISC Twin Cities raised $30 million to temporarily acquire buildings and land along multiple cultural corridors in Minneapolis. The goal is to ensure the properties become owned by residents or cooperatively owned.
• The Minnesota Inclusive Growth Fund, managed by the Community Reinvestment Fund and MEDA, secured $10 million in commitments to deploy to nine nonprofits serving Black and Brown-owned businesses.

MCF members have led the way making grants and low interest rate loans to support these two projects, as well as 17 other CDFIs in the Integrated Capital Recovery Program. MCF members backing these initiatives include the Bush Foundation, Driscoll Foundation, John Larsen Foundation, Marbrook Foundation, McKnight Foundation, Mortenson Family Foundation, Northwest Area Foundation and others who prefer to remain anonymous. View the full Impact Alpha article online here.

Reach Out to Add Your Support

Minnesota’s BIPOC communities require further grants and loans to build forward better to meet the ravages from COVID-19 and racial injustice. We have raised over $30 million, in total, but the communities need over $90 million. MCF will support investments to this program through July 1, 2021.

Hit the easy button on impact investing. Take advantage of your MCF membership to see shared due diligence memos, obtain legal templates and confer with peers. To learn more, reach out to your Impact Investing Executive in Residence Susan Hammel, shammel@mcf.org. Susan devotes most Mondays to MCF members and is happy to take your call.