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Social Investments Made

A database of all social investments made since 2009. We update this listing several times a year as new investments are confirmed.

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Massachusetts Housing Investment Corp.

Massachusetts Housing Investment Corporation (MHIC) is a private financier of affordable housing and community development throughout Massachusetts. This program-related investment loan supports a collaboration between the Conservation Law Foundation and MHIC through which the partners expect to make at least three investments in health-oriented enterprises in New England, in each case drawing in local health insurer, hospital or other significant entity as a risk-taking co-investor. View Website

Amount

$5 million

Year

2019

Location

Boston, Massachusetts

Program

Health, Social Investment Practice

Focus Area

Massachusetts Housing Investment Corp.

Massachusetts Housing Investment Corporation (MHIC) is a private financier of affordable housing and community development throughout Massachusetts. This guarantee investment is a collaboration between the Conservation Law Foundation and MHIC through which the partners expect to make at least three investments in health-oriented enterprises in New England. Projects will be businesses and social enterprises located in low-income neighborhoods that are intended to have a positive health impact on residents. View Website

Amount

$1 million guarantee

Year

2019

Location

Boston, Massachusetts

Program

Health, Social Investment Practice

Focus Area

Low Income Investment Fund

Geography Served: Atlanta, Chicago, Denver, Los Angeles, Memphis and San Francisco

Project: SPARCC

LIFF is a Community Development Financial Institution (CDFI) that creates pathways of opportunity for low-income individuals and communities. This program-related investment loan guarantee will support the SPARCC Initiative, which stands for Strong, Prosperous, and Resilient Communities Challenge. SPARCC will support multi-sector coalitions in six geographic-regions that are focused on creating equitable opportunities and greater access to opportunity for people with low incomes. Participating coalitions will benefit from a mix of core operating support, technical assistance, convening, strategic communications, innovation grants and lending to take advantage of time-sensitive catalytic investments. View Website

Amount

$2.5 million guarantee

Year

2017

Location

San Francisco, California

Program

Health, Social Investment Practice

Focus Area

Enterprise Community Loan Fund Inc.

Geography Served: Atlanta, Chicago, Denver, Los Angeles, Memphis and San Francisco

Project: SPARCC

ECLF is a nonprofit Community Development Financial Institution (CDFI) provides access to financing for local projects including affordable housing, charter schools, and community health centers. This program-related investment loan guarantee will support the SPARCC Initiative, which stands for Strong, Prosperous, and Resilient Communities Challenge. SPARCC will support multi-sector coalitions in six  geographic regions that are focused on creating equitable opportunities and greater access to opportunity for people with low incomes. Participating coalitions will benefit from a mix of core operating support, technical assistance, convening, strategic communications, innovation grants and lending to take advantage of time-sensitive catalytic investments. View Website

Amount

$2.5 million guarantee

Year

2017

Location

Program

Health, Social Investment Practice

Focus Area

Maycomb Capital

The Community Outcomes Fund, being developed by Maycomb Capital, is a new equity fund that will invest in outcomes based financing transactions in the US. The Fund seeks to help the public sector invest in social and health services that produce measurable outcomes and deliver financial returns to investors. This guarantee will provide partial credit protection to Fund investors in the event of underperformance. View Website

Amount

Up to $10 million guarantee

Year

2017

Location

New York, New York

Program

Health, Human Services, Social Investment Practice

Focus Area

Self-Help Ventures Fund

Geography Served: North Carolina

Project: Kresge Community Finance

A CDFI made up of two credit unions, a nonprofit loan und and an advocacy group. It supports and promotes homeownership to help families build financial security, provides responsible and affordable financial services, promotes policy solutions to encourage responsible lending. This loan will support community-led and sustainable food systems in North Carolina. View Website

Amount

$3 million

Year

2017

Location

Durham, North Carolina

Program

Health, Social Investment Practice

Focus Area

Forward Community Investments

Geography Served: Milwaukee, Wisconsin

Project: Kresge Community Finance

This CDFI invests, connects and advises financial practices to reduce social, economic and racial disparities in Wisconsin. This loan will support the continued growth of its lending and community development activity in disinvested Milwaukee neighborhoods, defined as zip code 53206 and adjacent areas. View Website

Amount

$1 million

Year

2017

Location

Madison, Wisconsin

Program

Health, Social Investment Practice

Focus Area

Capital Impact Partners

Geography Served: Memphis, Tennessee

Project: Kresge Community Finance

This CFDI uses strategic partnerships to scale up incubation models, affect public policy, do capacity building and strategic financing. This loan supports its partnership with the Memphis Medical District Collaborative to finance and promote community development, residential density and walkability. This takes the total KCF investment for $2 million for this work. View Website

Amount

$1 million

Year

2017

Location

Arlington, Virginia

Program

Health, Social Investment Practice

Focus Area

Cooperative Fund of New England

Geography Served: Southern New England

Project: Kresge Community Finance

A CDFI that provides financing products and works for economic, social and racial justice by advancing community based, cooperative and democratically- owned or managed enterprises. CFNE will use these funds to finance projects that create healthy places by supporting affordable housing and healthy food retail in southern New England. View Website

Amount

$1 million loan

Year

2016

Location

Boston, Massachusetts

Program

Health, Social Investment Practice

Focus Area

Capital Impact Partners

Geography Served: Memphis, Tennessee

Project: Kresge Community Finance

A CDFI that helps finance and incubate programs and projects that ensure low-to-moderate income individuals have access to quality health care and education, healthy foods, affordable housing and the ability to age with dignity. This loan will support a fund for real estate development, small business development and transit-oriented investments in Memphis. View Website

Amount

$1 million loan

Year

2016

Location

Arlington, Virginia

Program

Health, Social Investment Practice

Focus Area

Capital Impact Partners

Geography Served: Arlington, Va.

Project:

The Michigan Good Food Fund (MGFF) is a public-private partnership fund created to finance healthy food production, distribution, processing and retail projects that benefit underserved communities throughout Michigan. It is designed to provide flexible capital and grant investments to healthy food enterprises often overlooked by traditional financial institutions. MGFF also offers business assistance to help entrepreneurs grow their ventures and prepare for financing. View Website

Amount

$800,000

Year

2015

Location

Arlington, Virginia

Program

Detroit, Health, Social Investment Practice

Focus Area

Local Initiatives Support Corporation

Geography Served: New York, New York

Project:

In the second round of funding for the Healthy Futures Fund, the program will target health centers intentionally working to address the social determinants of health through partnerships and community development. Projects will address health issues such as diet and exercise, tobacco use, social and economic factors and physical environment. Dignity Health joined as a lender in this round, which is expected to result in investments in more than 10 health centers and housing developments. The fund was formed in 2012 with support from Morgan Stanley, Kresge and Local Initiatives Support Corporation (LISC) with the goal to improve primary access care in low-income communities. The fund uses both New-Market Tax Credits to invest in Federally Qualified Health Centers, and Low-Income Housing Tax Credits to invest in affordable housing developments with on-site health services. View Website

Amount

$2.5 million

Year

2015

Location

New York, New York

Program

Health, Social Investment Practice

Focus Area

Mercy Housing California

This equity investment will support the development of new housing units for homeless people who are frequent users of health and emergency services. Kresge’s equity investment is part of a new financing model being tested to expand capital sources for this type of housing. The Supportive Housing Accelerator has a mission to provide quality housing to homeless populations, improving their physical and mental health and reducing public sector costs. Mercy has developed 128 rental properties across 36 counties in California to serve low-income families, seniors and individuals. View Website

Amount

Up to $3.5 million

Year

2015

Location

San Francisco, Calif.

Program

Health, Social Investment Practice

Focus Area

Housing Partnership Network

The investment supports the BUILD Health Challenge, an effort begun by Kresge, the de Beaumont and Robert Wood Johnson foundations and the Advisory Board Co., a publicly traded company. BUILD – Bold, Upstream, Integrated, Local and Data-Driven – is expected to support community initiatives to improve health in as many as 14 low-income urban neighborhoods across the United States. Kresge’s Health Program provided related grant funding. Total funding for the initiative at the end of 2014 was $8.5 million. View Website

Amount

$3 million loan

Year

2014

Location

Boston, Massachusetts

Program

Health, Social Investment Practice

Focus Area

Seamless Medical Systems

The investment in this firm accelerates the development of a technology product designed to improve the quality of data and patient communication, reduce billing errors and improve medical office efficiency. The funding is part ofPartnering for Impact, an initiative of Kresge and the California HealthCare Foundation to support companies that have technology- or service-based solutions that help community health centers and clinics make their resources go further, increase patient access to care and lower the cost of providing care. A complementary grant will be used to evaluate the effectiveness of the system in health centers serving low-income communities. View Website

Amount

$750,000 loan

Year

2014

Location

Santa Fe, N.M.

Program

Health, Social Investment Practice

Focus Area

SC Community Loan Fund

The financing institution supports the development of vibrant, sustainable communities by providing loans, technical assistance and advocacy for affordable housing, healthy-food retail and community facilities and businesses. This loan complements a $450,000 grant from Kresge’s Health Program allowing the expansion of the lender’s healthy-food financing investments and activities. View Website

Amount

$500,000 loan

Year

2014

Location

North Charleston, South Carolina

Program

Health, Social Investment Practice

Focus Area

Healthy Futures Fund

Established by Kresge, Morgan Stanley and the Local Initiatives Support Corp. in 2012, this $100 million fund utilizes Low-Income Housing Tax Credits and New Markets Tax Credits to expand access to health care and affordable housing for low-income residents. It supports the construction of affordable-housing units with integrated health services, as well as federally qualified health centers, fostering collaboration between affordable-housing developers and health care providers. This new loan builds on previous a commitment and will reduce costs for borrowers. View Website

Amount

$1.25 million loan

Year

2014

Location

New York

Program

Health, Social Investment Practice

Focus Area

Massachusetts Housing Investment Corp.

This loan guarantee supports Healthy Neighborhoods Equity Fund, an initiative of the Massachusetts Housing Investment Corp. and the Conservation Law Foundation. The organizations expect to make six to 10 residential, commercial and mixed-use projects near current or planned public transit, tracking the health metrics of the transit-oriented development. View Website

Amount

$1.8 million loan guarantee

Year

2014

Location

Boston, Massachusetts

Program

Health, Social Investment Practice

Focus Area

Omada Health

Omada Health works in the emerging field of digital therapeutics. This investment extends the reach of an online program for people with pre-diabetes to low-income populations via pilots in select clinics and increased access among Medicaid plans. The funding is part of Partnering for Impact, an initiative of Kresge and the California HealthCare Foundation to support companies that have technology- or service-based solutions that help community health centers and clinics make their resources go further, increase patient access to care and lower the cost of providing care. View Website

Amount

$500,000 loan

Year

2014

Location

San Francisco

Program

Health, Social Investment Practice

Focus Area

Colorado Coalition for the Homeless

The nonprofit organization provides housing and health services for vulnerable community members in metro Denver. This loan allows the expansion of health services and reduces  the interest to as low as 1 percent rate based on improved client outcomes related to health and housing stability.  View Website

Amount

$3 million

Year

2013

Location

Denver, Colorado

Program

Health, Social Investment Practice

Focus Area

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