Unlocking Pathways to Social and Racial Justice Nationwide
    Message from Capital Impact's Board Chair and President and CEO

    We believe that everyone deserves a voice and economic pathways that allow them to shape their own futures. At Capital Impact, we believe that the right tools can make a community’s voice heard and strengthen their economic opportunities. Throughout 2017, we worked to develop those tools for and with our communities, to amplify their voices across the country and create hope, shared prosperity, justice, and inclusion.

    In our Annual Report, you will find personal stories of impact and key programmatic highlights illustrating how we use financial innovation and programmatic development to unlock capital in support of social and racial justice efforts taking place across the country.

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Creating Equitable Access by Bringing Health Care Into The Community
OLE Health – Napa Valley, California

While health centers and clinics serve millions of patients, there are still many who are unable to make it to those facilities. OLE Health is bridging that gap by taking its services on the road to meet patients where they are. The result: more equitable access to quality health care for more people.

► Go along with OLE’s Team on Their Modern Day House Calls

Changing the Older Workforce Paradigm
Peninsula Home Care Cooperative – Port Townsend, Washington

At 75, Raea never imagined she would still be serving as a home caregiver and struggling to get by on a low wage. Yet, Raea’s situation represents a growing workforce dominated by older women. Learn how one organization uses the cooperative model to change that paradigm by empowering and protecting its older staff with competitive wages and management opportunities.

► Meet Raea and Her Co-op Colleagues

How One + One is Greater than Two for Underinvested Neighborhoods
Briya Public Charter School | Martha’s Table | Takoma Place Apartments – Washington, D.C.

As a parent, Diana has a lot to manage among her three children. Fortunately, she discovered a unique opportunity to find a good school and quality health care all in the same place. Across Washington D.C., stories like this are becoming more common as facilities bring together – or “co-locate” – important services that are vital to healthy communities.

► See how Combining Multiple Services is Creating Equity in the Nation’s Capital

Helping Minority Developers Shape the Future of Their Communities
Equitable Development Initiative – Detroit, Michigan

Too often minority real estate developers are not part of shaping the future of their communities. With our new initiative, developers like Alisha, Chase and Damian are being given a unique opportunity to demonstrate how minority real estate developers can participate in Detroit’s revitalization in a way that reflects the city’s diversity.

► Follow Their Journey

Ensuring all Detroiters Continue to be Part of the City’s Future
Multifamily Displacement and Relocation Report – Detroit, Michigan

While we celebrate Detroit’s resurgence, new concerns have arisen over the displacement of families who can no longer afford rising rents. This threatens the cultural fabric of a city built by residents who have lived there for generations. Our seminal report lays out practical guidance to avert this potential crisis for Detroit’s most vulnerable citizens.

► Read Our Housing Displacement and Solutions Report

Reducing Barriers to Launching Quality Education Opportunities
Our “Answer Key” Simplifies The Construction and Financing Process

No child should miss out on a quality education simply because a school can’t be built or expanded to meet a community’s needs. Yet charter school construction remains a major hurdle for school administrators. Our simple how-to guide helps navigate the facility development process and create new education opportunities where they are needed most.

► Download ‘The Answer Key’






Purchase Capital Impact Investment Notes.

Proceeds support our mission-driven efforts to create access to critical social services in underserved communities.

Earn a financial return, as well as a social return, on your investment.

In an effort to create a new opportunity that allows investors to align their financial goals with their social values, we debuted our Capital Impact Investment Notes. S&P Global assigned this $100 million offering with a long-term issue credit rating of AA*, marking the first time an S&P rated Notes offering is being made available by a CDFI on a continuous basis.

A range of institutional and retail investors took notice. In just three months, we sold more than $35 million of investments – a third of our offering. This incredible support further amplifies our nationwide efforts to create equitable access to critical social services nationwide.

Our CEO’s Blog Invest in Us



Harnessing the Impact Investing Market to Raise Socially Motivated Capital
Capital Impact’s President & CEO Ellis Carr sat down with Nonprofit Quarterly to discuss our efforts to raise “socially motivated capital” from individuals and institutional investors alike. Learn more about how our Investment Notes are supporting efforts to engage in and win the fight against the growing inequality we see across the country.

Cover Story: Fueling Detroit’s Revival
Capital Impact’s senior Detroit loan officer Melinda Clemons spent time touring the city with Fortune Magazine to highlight projects that support inclusive growth and economic opportunity for all Detroiters. We were honored to be included in their cover story about the variety of organizations working together to fuel Detroit’s revival.

Serving as Market Maker and Catalyst to Help Communities Thrive
“More than Money” is a podcast that explores how “we can use our values to inform how we engage with our work and invest our wealth.” The podcast host interviewed Capital Impact Partners’ President and CEO Ellis Carr about our efforts to serve as a market maker and market catalyst to help communities and their residents thrive.


Getting Money to the People and Communities That Need It Most
Fast Company featured Capital Impact Partners in its in-depth look at the key role CDFIs play in bolstering low-income communities. They specifically noted: “Companies like Capital Impact Partners don’t do the work they do for recognition or glory—they do it to get money to the people and communities that need it most.”

Creating Quality Jobs to Fix America’s Shortage of Home-Care Workers
Our older adult population may increase more than 70 percent over the next quarter-century. Unfortunately, the supply of home-care workers is likely to fall short of that looming demand. Through a new program, we aim to use the power of cooperatives to bridge that gap. At the same time, we will also create quality jobs for women ages 50 and older.

Ensuring Developers Represent the City’s Diversity
To ensure that the current pool of developers in Detroit truly reflects the city’s diversity, Capital Impact launched the Equitable Development Initiative. This article illustrates how this new program will combine capital support and training to empower minority real estate developers, allowing them to create transformative change in the city.


Addressing Housing Concerns in Revitalizing Neighborhoods
An article in The Wall Street Journal, which addressed the balancing act between gentrification and affordable housing, featured Capital Impact’s study focusing on this issue. Our report identifies a number of best practices that can be used to plan for and responsibly manage development processes that will protect low-income residents.

Op-Ed: Continue to Invest in America’s Struggling Cities and Towns
The leaders of the nation’s four largest CDFIs joined together to ask Congress to ensure that the CDFI Fund is fully funded and to safeguard this critical agency. The work of CDFIs needs this support, as they help create economic prosperity for low-income communities and empower Americans to live healthier, more equitable lives.

These Days, It’s Easy to Say Nice Things about Detroit
A national blog featured Capital Impact Partners’ role in utilizing investments from government agencies, banks, and foundations to spur investments in social impact projects. It noted that we “do all this work in ways that promote inclusive neighborhoods, meaning that they should accommodate a mix of well-to-do, middle-class and poor people.”


Visit Our Press Page



Without the commitment from our Board of Directors, as well as a range of funders, investors, and partners we would not be able to fulfill our mission to build communities of opportunity. We thank them for their support!

Board of Directors Partners




Assets ($ Millions) 2017 2016  
Cash and cash equivalents – unrestricted $28,596,868 $20,158,754  
Cash and cash equivalents – restricted 29,408,229 27,094,685  
Accounts and interest receivable 2,832,906 1,926,900  
Contributions receivable 525,000 6,030,676  
Investments 5,802,541 5,602,342  
Mortgage Backed and US Treasury Securities 48,249,579 14,185,960  
Loans receivable 311,259,856 206,808,453  
   Less: allowance for loan losses (11,001,026) (8,679,807)  
     Loans receivable, net 300,258,830 198,128,693  
     Loans receivable – subsidiaries 60,007,244 50,497,966  
Other assets 3,060,779 1,679,807  
Total assets $478,741,976 $325,305,783  
Liabilities and Net Assets      
   Accounts payable and accrued expenses $3,784,058 $3,222,255  
   Refundable advance liability 4,800,000 0  
   Office vacation obligation 2,668,125 0  
   Deferred rent and tenant allowance 1,647,720 79,497  
   Revolving line of credit 85,000,000 32,000,000  
   Notes payable 76,212,388 66,710,998  
   Federal Home Loan Bank debt 11,000,000 5,000,000  
   Bond loan payable 40,930,079 28,625,536  
   Notes payable – subsidiaries 60,157,656 50,579,148  
     Total liabilities 337,652,239 196,935,434  
Net Assets      
   Unrestricted 102,693,027 103,613,256  
   Noncontrolling Interest
   in consolidated subsidiary
   Temporarily restricted 16,804,984 23,269,619  
   Permanently restricted 1,487,475 1,487,475  
Total net assets 141,089,737 128,370,349  
Total liabilities and net assets $478,741,976 $325,305,783  

2017 Financial Report 2016 Form 990

Our Vision:
A nation of communities of opportunity built on a foundation of equity, inclusiveness, and cooperation.

Our Mission:
Through capital and commitment, Capital Impact Partners helps people build communities of opportunity that break barriers to success.


1400 Crystal Drive
Suite 500
Arlington, VA 22202
Phone: (703) 647-2300
Fax: (703) 647-3490

West Coast
360 22nd Street
Suite 320
Oakland, CA 94612
Phone: (510) 496-2222
Fax: (510) 496-0404

2990 West Grand Boulevard
Suite M-15
Detroit, MI 48202
Phone: (313) 230-1116