More than Money Podcast Interviews Ellis Carr, President & CEO of Capital Impact
Expanding opportunities for residents in low-income communities is the focus of community development financial institutions (CDFIs). These mission-driven institutions prioritize social, economic and racial justice for underserved communities over and above profits, meaning that CDFIs invest in places and projects that traditional lenders are often reluctant to support.
By Danielle Graceffa, Senior Director, Legal Services
Real estate development has always been a risky proposition, fraught with numerous challenges that must always be carefully balanced against the promise of reward.
Throw in the possibility of rehabbing historic properties and that risk-reward scenario is certainly amplified. The city of Detroit, where we have our Midwestern office, is a perfect example.
Founded in the 1700s, the city has witnessed various transformations, with Henry Ford setting the stage for Detroit to become the booming manufacturing center that it is best known as. During that time, the population swelled from around 200,000 residents to well over 1.5 million.
By Emilie Linick, Senior Loan Officer, and Quanic Fullard, Impact Strategy Specialist
Capital Impact Partners has long been driven by a mission to help people build communities of opportunity that break barriers to success. To that end, we continually look to expand our lending and incubate, scale, and advocate for new ideas that advance community development for those most in need.
By Kimberly Dorsett, Human Resources Director
The concept of identity politics has had a lot of press of late. How do we, as professionals, as voters, as members of our community, as individuals, apply our own identity and personal narrative to our actions and convictions? Given the diversity of our organization and the communities we serve, is the act of presenting and leveraging our own backgrounds an appropriate starting point for our professional work?
By Ellis Carr, President and CEO and Scott Sporte, Chief Lending Officer
Note: This Op-Ed originally appeared in the publication Capital Weekly.
According to the U.S. Census Bureau’s report The Supplemental Poverty Measure: 2015, nearly eight million people in California were living in poverty in 2015. The report indicated that the state’s poverty rate was 20.6 percent—well above the national rate of 15.1 percent—and surpassed the rates of every other state in the nation.
Ellis Carr, President and CEO
2016 was marked by change—both for the U.S. and for Capital Impact. Our country witnessed a transition in leadership and with it words and actions that have divided our country. Part of this division included the voices of many who felt the American Dream had passed them by.
Scott Sporte, Chief Lending Officer
We have had a strong year in our lending work, where many of our newest initiatives gained momentum and had tremendous impact in the communities we serve. As witnessed in our 2016 Annual Report, we delivered $118 million in financing through our core lending work that supported community-based health care, high-performing charter schools, innovative approaches to services for seniors, mixed-income housing and access to fresh, healthy foods.
Natalie Gunn, Chief Financial Officer
Capital Impact Partners ended 2016 in an extremely strong financial position with unrestricted net assets increasing by $2.4 million. As illustrated in our 2016 Annual Report, our loan portfolio grew by $26 million or 15%, and total assets grew by $42 million or 15%.
By Scott Berman, Director of Policy & Development
As a mission-driven lender, Capital Impact Partners collaborates with a wide range of public, private and philanthropic organizations that invest in our efforts to transform underserved communities into vibrant places of opportunity. These partners—and the financial support they provide—are indispensable. Quite simply, our work would not be possible without them.
On Sunday, January 22, the Capital Impact family lost a dear friend and colleague, Brad Frost. He will be remembered as an individual of integrity, thoughtfulness, sharp wit, and dedication. Brad wore his passion for Detroit on his sleeve and was an unceasing supporter, critic and advocate for the city and all its residents.