Making Local Wealth Stick
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- Travis Green, LOCUS Solutions Consultant, and Deb Markley, LOCUS Senior VP, highlight how foundations are exploring alternatives to traditional grant making as recent data heralds changes to the United States' Philanthropic Landscape.
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Across the United States,
LOCUS estimates that $9 trillion will transfer
from one generation to the next by 2029. When you dig into the numbers, it’s clear that communities – rural and urban, wealthy and poor – have assets. The challenge for community philanthropy is how to turn that wealth into what a community really needs: housing, healthy food, education, childcare, a growing economy.
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Baltimore Community Foundation
provided a bridge loan to Healthy Neighborhoods, a local CDFI, to help “green” the historic Reservoir Hill neighborhood. The plan for the neighborhood includes increasing the tree canopy, expanding community gardens, and rehabilitating vacant lots.
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What if communities, inspired by Shickley, successfully tapped into that looming transfer of wealth? If community and other rooted foundations managed to capture just five percent of that $9 trillion over the next decade, what should they do to put those assets into productive use for America’s communities?
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Appalachian Funders Network 9th Annual Gathering
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LOCUS was proud to support friend and partner,
Stephanie Randolph
,
as she announced the Impact Appalachia investment platform.
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The Opportunity Finance Network (OFN)
launched a new resource for impact investors interested in partnering with community development financial institutions (CDFIs). OFN’s new resource outlines the role CDFIs play and samples the various products and services they provide. The resource also provides a list of all CDFIs certified by the
US Treasury Department’s CDFI Fund
.
OFN also links to several resources that provide more information about CDFIs, including LOCUS Impact Investing.
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AiP Conference on Philanthropy 2018
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April 30-May 2,
The International Association of Advisors in Philanthropy (AiP)
convened hundreds of financial advisors, attorneys, CPAs and philanthropies for three days in Nashville, TN. The conference explored the changing dynamics of philanthropy, such as how next-gen wealth holders are willing to use all of the tools in the kit, including local impact investing, to effect greater change.
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Using the study,
MAG
worked with community foundations to recognize opportunities, fill service gaps, and
discussed with state legislators how to promote endowed gifts through tax credits.
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Growing Entrepreneurial Communities Summit
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April 25-26 in Kansas City, KS, the second
Growing Entrepreneurial Communities Summit
brought together best practice programs from many disciplines and perspectives to discuss what it takes to build a vibrant entrepreneurial ecosystem and how to reach marginalized members of those communities.
At the Federal Reserve Bank in Kansas City, Don Macke led a panel discussion on “Cutting Edge Research” and the impact data has on entrepreneurship and business development. Click
HERE
for event and presentation highlights.
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Last month over 50 place-based impact investing leaders from foundations, CDFIs, philanthropy serving organizations, and others gathered at the
Urban Institute
. An article from the Institute shares lessons from the national convening which can help advance the practices of others engaged in impact investing.
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The
Community Foundation of Greater Atlanta
is working to spur impact investing by launching a $10 million fund, according to a brief by
ImpactAlpha
.
The fund will make low-cost loans to organizations involved with arts, community development, education, well being, and “nonprofit effectiveness.”
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Venn Foundation
along with
The Minnesota Council on Foundations
has released a report on the use of Program-Related Investments (PRIs) by Minnesota private foundations from 1998 to 2016.
The PRI Pulse
TM
report shows how PRIs have been used in the past as foundations discuss how to use them going forward.
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BALLE
is welcoming the third cohort of its Local Economy Foundation Circle. The group features leaders who activate natural, social, and financial capital to build local economies that work for all.
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Here is where you will find members of the LOCUS team in the coming months:
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Mission Forward!
May 14-16 Chicago, IL
LOCUS is a sponsor, and members of the LOCUS team will be in attendance.
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May 23-24 Spartanburg, SC
LOCUS is a sponsor, and Teri Lovelace is a speaker. Sydney England and LOCUS Advisor Bonny Moellenbrock will be in attendance.
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June 21-22 Washington, DC
LOCUS is a sponsor, and members of the LOCUS team will be in attendance.
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July 16-18 Boston, MA
LOCUS will be a participant.
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Aug. 28-29 Minneapolis, MN
LOCUS will be a participant.
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Encourage others to sign up for our mailing list and/or follow us on social media by forwarding this newsletter or by sharing the registration link!
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LOCUS Capital, Inc. is a Registered Investment Advisor Firm. Advisory services are only offered to clients or prospective clients where LOCUS Capital, Inc. and its representatives are properly licensed or exempt from licensure. LOCUS Capital, Inc. and its representatives do not furnish investment advice or services through this website. Past performance is no guarantee of future returns.
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