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Community Investment Guarantee Pool. In January 2020, The California Endowment, in partnership with LOCUS and foundations across the country, launched the nation’s first guarantee pool focused on community needs.
- The Challenge
- A Limited Menu of Options
- Making Local Impact Investment Safe For Investors of Modest Means
Access to capital for Main Street entrepreneurs and business owners has long been a challenge. While they may not physically reside on a city’s main street, these small businesses—defined as 20 or fewer employees—comprise 89.1 percent of the 6.1 million employer firms in 2018and employ one in six private sector workers nationally. Main Street busin...
Citizens and organizations in communities nationwide can rally together to rebuild their local economies from the grassroots up. One way to do this is by setting up a Community Investment Fund (CIF) that welcomes investment from any citizen—regardless of wealth status—to provide patient capital to help local businesses get back on their feet and ev...
To better understand what changes are needed, let’s consider what can and cannot be done under the 1940 Act as it currently exists. As mentioned above, there are existing funds, albeit a limited number of them, that are organized under exemptions of the extant 1940 Act. These are not technically mutual funds, but they do diversify investment across...
Through the 2nd quarter of 2020, the NMTC leveraged more than $105 billion in capital investment in communities with high rates of poverty and unemployment. Additional information on the NMTC can be found on the NMTC Coalition’s website (www.nmtccoalition.org).
Transformative Climate Communities (TCC) – a state cap-and-trade funded grant program that funds community-led development and infrastructure projects that achieve environmental, health, and economic benefits in California’s most disadvantaged communities.
Create set-asides for programs created by the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA) and future federal climate funding allocations to California to ensure funds land in and benefit priority communities (i.e., those at the frontlines of the climate crisis, low-income, majority POC communities) in ...
Dec 14, 2020 · In anticipation of Congress approving a second round of PPP lending in late April 2020, Self-Help and The California Endowment (TCE) both saw an urgent need to bend the curve on the next round of PPP funding to support nonprofits and underserved communities more intentionally.
People also ask
What is a Community Investment Fund?
How many applications for California Community Reinvestment grants (calcrg) have been received?
Could a fully inclusive community investment fund reverse wealth inequality?
Are community development financial institutions governed by the 1940 Act?
What is the Investment Company Act of 1940?
What is a community development financial institution (CDFI)?
Sep 10, 2024 · Contingent upon sufficient tax proceeds generated, the funding for the grant program is $50 million in fiscal year 2022-23 (July 1, 2022 – June 30, 2023) and each year thereafter. At least 50 percent of the grant funding will be allocated to qualified community-based nonprofit organizations.
