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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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Fresno Housing Authority

This program-related investment loan will allow the Fresno Housing Authority the flexible capital needed to pursue a robust pipeline of Low Income Housing Tax Credit projects in Fresno between 2020 and 2022 and to test new ideas and objectives, including Black homeownership, motel conversion, and Naturally Occurring Affordable Housing (NOAH). View Website

Amount

$2 million loan

Year

2020

Location

Fresno, CA

Program

American Cities

Focus Area

Place-Based Community Development

Local Initiatives Support Corporation – Detroit

Geography Served: Detroit, Michigan

Project:

The Affordable Housing Leverage Fund (AHLF) is a partnership between the City of Detroit Housing & Revitalization Department,, the Local Initiatives Support Corporation (LISC), and the Michigan State Housing Development Authority (MSHDA) to provide affordable housing developers and owners with streamlined access to financial tools that are specifically designed to address housing challenges in Detroit neighborhoods. AHLF is expected to deploy $250 million into the preservation of 10,000 units of existing affordable housing and the development of 2,000 units of new affordable housing. View Website

Amount

Up to $10 million guarantee

Year

2020

Location

Detroit, Michigan

Program

Detroit, Social Investment Practice

Focus Area

Equitable Community Development

Marygrove Conservancy

This guarantee backs a loan provided by the Northern Trust company to facilitate a New Markets Tax Credit transaction to finance the construction of an early childhood education center on the Marygrove campus. In addition, Kresge will provide certain guarantees to the New Markets Tax Credit Lenders (Cinnaire, Capital Impact Partners, and McCormick Baron Salazar) to cover construction completion; loan-interest payments; and costs of default. View Website

Amount

$17.7 million guarantee

Year

2020

Location

Detroit, Mich.

Program

Detroit, Social Investment Practice

Focus Area

Transformative Project/Marygrove

Greenprint Partners

The purpose of this convertible note is to enable Greenprint Partners to make certain enterprise-level investments such as hiring its first Chief Financial Officer, completing a strategic planning process, and developing new markets. Greenprint’s mission and focus is to bring the benefits of green stormwater infrastructure to communities that are often overlooked and not prioritized for water infrastructure-related investments. View Website

Amount

$750,000 loan

Year

2020

Location

Chicago, Illinois

Program

Environment, Social Investment Practice

Focus Area

Transforming Key Urban Systems

Bridgeway Capital

This program-related investment loan to Bridgeway Capital will allow the organization to partner with the University of Pittsburgh Medical System (UPMC) to increase the supply of affordable housing in four Pittsburgh neighborhoods. The investment is part of a partnership with the Robert Wood Johnson Foundation and The Center for Community Investment's Accelerating Investments for Healthy Communities program. View Website

Amount

$1.5 million loan

Year

2020

Location

Pittsburgh, PA

Program

Health, Social Investment Practice

Focus Area

National Student Clearinghouse

This program-related investment loan will allow National Student Clearinghouse to invest in new systems and technological infrastructure, enabling it to enhance current products, add new offerings, reduce costs and increase earned revenue. The National Student Clearinghouse data follow individuals throughout their academic journeys, making it possible to determine student persistence and graduation as students transfer between colleges or accumulate credits at a variety of institutions. View Website

Amount

$2 million loan

Year

2020

Location

Herndon, Virginia

Program

Education, Social Investment Practice

Focus Area

Institutional Capacity Building for Student Success, Urban Pathways to College

PosiGen

Geography Served: Louisiana, Connecticut and New Jersey

Project:

The investment will contribute to the continued growth of PosiGen, as the company works to close the clean-energy-affordability gap by making solar and energy efficiency available to all homeowners. View Website

Amount

$5 million loan

Year

2020

Location

New Orleans, Louisiana

Program

Environment, Social Investment Practice

Focus Area

Transforming Key Urban Systems

Community Reinvestment Fund

Geography Served: Detroit, Michigan

Project: Paycheck Protection Program loans for nonprofits

This program-related investment loan supported Community Reinvestment Fund's efforts to extend Paycheck Protection Program (PPP) Loan application support and oversight to Detroit-area nonprofits. The PPP is a newly created loan guarantee program funded through the 2020 CARES Act. View Website

Amount

$2 million loan

Year

2020

Location

Minneapolis, Minnesota

Program

Detroit, Social Investment Practice

Focus Area

Coordinated Investments and Technical Assistance

NewCorp

Geography Served: New Orleans, LA

Project: BuildNOLA Mobilization Fund

The BuildNOLA Mobilization Fund launched in 2016 as a pilot to test the efficacy of a revolving loan pool to support Disadvantaged Business Enterprises (DBEs) working on public sector projects with a focus on African American-owned DBEs. This guarantee, converted from a prior approved program-related investment loan, will support a $10 million fully capitalized fund that over the long-term will strengthen disadvantaged businesses’ ability to bid and execute on a pipeline of public contracts, access roles as prime contractors and, over time, build wealth among these business owners and their employees.   View Website

Amount

Up to $2 million guarantee

Year

2020

Location

New Orleans, Louisiana

Program

American Cities, Human Services, Social Investment Practice

Focus Area

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