Creating communities of opportunity is our commitment to individuals and families nationwide. That means amplifying assets – both financial and community-based – that help individuals and families thrive. Throughout 2018, from criminal justice to education and housing to impact investing, we have striven to foster justice and empowerment to dismantle structural disinvestment and move communities toward shared prosperity. In this newsletter, our 2018 Annual Report shows our impact in our communities throughout last year and our resolve to help communities succeed.
Our 2018 Annual Report: Amplifying Assets
Our efforts to address the root causes of poverty and invest in community success have led us to amazing people across the country. Throughout our Annual Report, you will read stories about some of those people: people with whom we have the privilege to work to transform communities into places full of opportunity and who are able to access opportunity in a way that they had not been able to do before.
Supporting Financial Inclusion for Returning Citizens
After his release from prison, Juan Reid was filled with optimism for how to build a new life. However, like many returning citizens, he faced obstacles that held him back from achieve his goals. With the right support, Juan ultimately founded his own business, demonstrating how equitable and inclusive approaches can support financial inclusion and stability for individuals with criminal records.
When Lixi’s struggles with math began impacting her self-esteem, Montessori For All provided an intentionally diverse and comprehensive alternative to her traditional education. NASCO Properties, Inc., offers Hannah and her fellow residents an innovative solution to the affordable housing dilemma through an alternative to the traditional cooperative model. Across Texas, Capital Impact is supporting several organizations that are improving access to a range of quality services – and increasing quality of life in the process.
Providing Comprehensive—and Convenient—Care for Aging Adults
As Marcelina got older, she struggled to keep her diabetes under control. After being hospitalized for diabetic complications, she was referred to Urban Health Plan’s Center for Advanced Aging conveniently located in her neighborhood. The Center is part of an innovative health movement that delivers comprehensive care to aging populations while allowing them to continue living and remain active in their communities.
“When I tried to say I only wanted to do social investing, and not any conventional investing, they told me I’d starve. I said ‘No, I won’t.’” Years later, with clients in 25 states, financial advisor Andy Loving has shown that you can earn financial returns, as well as social returns, on your investments. In this video, Andy talks about his work and explains why Capital Impact’s Investment Note is part of his portfolio recommendations.
Capital Impact Expands Capacity Building for Real Estate Developers of Color to Washington, D.C.
Development around the Washington Metropolitan area is booming, yet with so much opportunity, the pool of real estate developers still does not reflect the region’s diversity. To increase opportunities for minority real estate developers in Washington, D.C. to participate in the region’s booming development landscape, we are launching our Equitable Development Initiative in the Washington Metropolitan area. EDI targets flexible capital and capacity building tools to minority developers to reduce barriers to entry and strengthen their business enterprises while promoting equitable community development, particularly affordable housing for communities of color.
We are accepting applications for the Equitable Development Initiativenow through July 31st.
Capital Impact and D.C. Mayor Muriel Bowser Celebrate Affordable Housing Milestone
We are excited to celebrate a new milestone as fund manager of the Affordable Housing Preservation Fund, in partnership with D.C. Mayor Muriel Bowser and the D.C. Department of Housing and Community Development: protecting more than 600 affordable housing units for individuals and families across the District. With these housing units preserved in our first two deals under the Fund, we have pushed the total number of affordable units preserved under the Fund to more than 1,150.
“It’s so important that, as things change, they are enhanced for the people that live there,” said Mayor Bowser at an event last week to celebrate the protection of affordable housing units at Worthington Woods in Congress Heights. “That is the story of housing preservation. Looking at the good housing stock we have in the District and committing to saving it, and making sure it is there for our residents and future generations. That is why we established the Housing Preservation Fund.”
Immigrant and Workers’ Rights Are Common Thread in 2019 Co-op Innovation Award
Cooperatives have real power to transform structurally disinvested communities into strong vibrant places of opportunity. That is why we partnered with The Workers Lab on our fifth annual Co-op Innovation Award competition. We put out a call to cooperative development organizations that are creating tangible, transformative impact for communities nationwide. More than 100 organizations from all across the country applied.
We are thrilled announce the following three winners of the Co-op Innovation Award, all of which are empowering workers’ and immigrant rights through the cooperative model:
Heat up your summer and career by joining our mission-driven team! Capital Impact offers a mission-driven experience and a suite of benefits. Our openings include a Senior Director, Strategic Lending Initiatives; Structured Finance Manager; and Loan Officer. We look forward to hearing from all interested candidates.