![]() There is tremendous optimism in the market the rapid expansion of commercial investment opportunities is evidence of that, as is data pointing to market-rate returns-something that 20 years ago, few would have imagined to be possible.īut, that enthusiasm-and even some of that research-creates a bit of a blind spot. What challenges do you see for the future of purpose-driven finance? We are providing “catalytic capital” that we expect to help unleash significant levels of new investment and achieve greater impact than we could with our capital alone. Third, and finally, we are using a $500 million pool of impact investing assets to build new solutions to the capital gaps that hinder many high-impact organizations, enterprises and funds. In practice, that means we make grants to support new products and platforms, as well market research, education and convenings that encourage collaboration and disseminate best practices. ![]() Second, we are leveraging our 30 years of experience to help build up the impact investing marketplace overall, making it more efficient, effective and inclusive. At its core is our continued strong support for the Foundation’s program priorities, including a new portfolio of climate investments. Our single biggest initiative addressed the preservation of affordable rental housing across the US. The Foundation began its impact investing work 30 years ago and it has ranged widely since then, including everything from microcredit in its earliest days to sustainable agriculture, women’s health, arts and education, and community development. This has included a financial management role in the nonprofit sector, investment banking with a focus on public finance, and, for nearly 20 years, impact investing at the MacArthur Foundation. I’ve been exceptionally fortunate to build my career at the intersection of finance – money – and mission. We are continuing to get the books balanced and the loans funded with so many of our employees working from home.Please give us a bit of background on yourself, and how your organization plays a leadership role in the impact investing space. They have done a really good job of balancing remote work. A lot of people have been surprisingly resilient, and a few people haven’t, like with any organization.īut for the most part people have been resilient and focused. Q: What is the biggest thing that you’ve learned from the pandemic?Ī: I have learned the cream rises to the top. So, we tried to automate and simplify the process as much as possible.” Members were eligible for financial assistance loans. We also had a financial assistance loan that is centralized with very few requirements. They didn’t have to deal with a lot of requests. That took a lot of pressure off the staff. We did an automatic skip-a-payment for members, without having to ask. We came out pretty fast with number of programs. Q: How have you dealt with members coming into the branches with financial issues because of the pandemic? That must be stressful for your branch employees.Ī: Our staff has always been super member focused. And in some ways, there are some people I see more via regular Zoom conference calls than I did before. I was not a huge fan of remote work before this started, because I think to have a culture you need to be together. Q: In this time of COVID-19, how do you maintain the culture and keep people doing their jobs?Ī: It takes a lot of leaders at all different levels. ![]() It is OK, we have done what we needed to do. ![]() So it isn’t just make that bottom line bigger and bigger every year. But at a certain point enough is enough and you give back. Every year it should be more than the last.įor Mission Fed, a double bottom line is, we are a financial services firm. I worked in banking for over a decade, and the bottom line is the bottom line. I think those connections that you keep are really important.Ī: A double bottom line is really cool, and it is why I love my job. A couple of individuals on our senior management team I had worked with in different capacities decades earlier. I literally have a Zoom call tonight with three people who I worked with in the early ‘80s who are still friends. And once I work with you, I stay in contact with you forever. Hire people who are smarter than I am and empower them to do their best.Ī: I have been in the industry for a long time and I have a lot of contacts. ![]()
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