A Look Back at 2016
December 21, 2016
For many of us, 2016 has been filled with tough and difficult turns and events. Looking optimistically however, it was an important year for impact investing and Calvert Foundation, filled with growth and innovation. As we move forward into 2017, impact investing will continue to be an ever-important movement as private citizens focus their efforts on social equality, economic growth, and environmental sustainability.
Outlined below are our biggest stories from 2016, largely made possible by our committed community of investors, partners, and friends. They are achievements we are proud of and grateful for, and hope that they serve as inspiration for the future.
Record amount of capital raised and deployed
Although the financial year isn't over just yet, we have already seen record numbers for this year. We have raised over $50 million in investments from our community of over 4,000 investors - the most ever invested in one year since Calvert Foundation first started selling the Community Investment Note in 1995. We have also made over 20 new loans, totalling to over $50 million, that are financing non-profits and social enterprises in all 50 states and more than 100 countries - another record for deployment in a year in Calvert Foundation history.
To find out more about our borrowers, you can visit our Impact Map.
To read more on our latest portfolio update, see our Q3 Report.
Increased rates for our investors
Earlier this spring we announced an increase in rates for our investors - now you can earn up to 4% interest on your Community Investment Note! This came as a result of a dramatic increase in demand for our capital from our current and prospective borrowers. The social and environmental enterprise sector is growing exponentially, and so is the need to channel capital to these efforts.
Want to find out more on why we raised our rates? Read the announcement by our VP of Investment Partnerships Justin Conway.
Fostering growth in Baltimore
At the beginning of this year we rolled out Ours To Own to its third city - Baltimore. As our neighbour and home to many of our staff at Calvert Foundation, the Charm City is close to our heart and a part of our commitment to facilitate impact investing in local communities. To date we have already closed four loans in Baltimore totalling in over $11 million that support affordable housing, community development, and education.
To find out more about the launch of Ours To Own Baltimore read reflections from our Director of Investments Beth Bafford.
Collaborating to benefit Chicago
This past spring we joined forces with MacArthur Foundation and Chicago Community Trust to launch Benefit Chicago, which aims to mobilize $100 million in impact investments for non-profiits and social enterprises in Chicago. Now those who are passionate about Chicago's development and success can invest and target their dollars to support the Windy City. Already we have seen over $4 million invested through the Community Investment Note for Benefit Chicago.
Read our joint press release on Benefit Chicago.
Investing with your faith
Earlier this year we welcomed Jeffrey Dekro as our Director of Faith-based Investing, who quickly got to work cultivating our community of investors who are motivated by their faith. In June we started the Jubilee Assembly, which brings together our current (many who are longstanding) faith investors and invites those of all faiths and religions who are interested in investing in alliance with their values. This past month we hosted the Jubilee Assembly National Council meeting (pictured), bringing together faith leaders and advocates of community investing.
Find out more about the Jubilee Assembly and sign up to join at: http://www.calvertfoundation.org/faith
Become a financial activist and be #ParteDeLaSolution
As an extension of our Raíces investment initiative, we've been working to include and empower Latinos as impact investors. We joined forces with Kiva and Latino Community Credit Union (LCCU) to develop the #ParteDeLaSolution campaign, which encourages Latinos to be financial agents of change through investing, lending, and saving. The campaign has grown through the support of other partnerships with BSD Consulting, Univision, and Fusion, and culminated at a launch event in San Francisco during SOCAP.
A new generation of board members
At Calvert Foundation we've been fortunate to have been led by a committed group of board members who have been with us since the very beginning. This year, we were delighted to usher in five new board members to our group: Decker Rolph, Aron Betru, Kimberly Johnson, Phil Kirshman, and Jaime Yordan. This new generation of board members brings with them a wealth of experience, knowledge, and fresh perspective that will help shape Calvert Foundation's strategy going forward.
You can read more about our Board of Directors.
We have many exciting development to roll out in 2017, and we hope that you will be a part of it all. The impact investing movement is moving fast, and you don't want to be left behind! You can stay updated by following us on social media, reading our blogs, and signing up to our newsletter. And of course, you can become an impact investor yourself - starting from $20 on Vested.org.