September 2018 Newsletter
Community Foundations, Meet Opportunity Zones
- Guest writer Adam Northup, LOCUS Advisor, shares what every Community Foundation should know about Opportunity Zones. Created by the new tax law, this new tool has the potential to revitalize left behind communities.
Tucked into the Tax Cut & Jobs Act passed in December 2017 is the first new community development tax program enacted since the millennium. Inclusion of this “Opportunity Zone” tax incentive was somewhat of a surprise to stakeholders across the country. Businesses, economic development authorities, regional & local governments, philanthropic organizations, financial institutions, and non-profits have been scrambling to make sense of the new law and the opportunities and challenges it presents.
In July, the U.S. Department of the Treasury published the finalized listing of opportunity zones. Qualified zones are census tracts nominated by state governors. Photo Credit: Salma Smida
Even the U.S. Treasury is playing catch-up and has yet to release final rules – even though Opportunity Zones are designated and investors are lining up. So, what do community foundations need to know? Visit our blog to Learn More.
LOCUS FOCUS
Council on Foundations: Inclusive Economic Prosperity in the Midwest.  140 funders met to explore philanthropy's role in creating innovative regional economies. LOCUS moderated a peer exchange on capitalization, featuring Connie Smith of Wells Fargo’s Diverse Community Capital Program , and a talk with Scott Marquardt of the Southwest Initiative Foundation and Brian Lipschultz of the Otto Bremer Trust on capacity building.
Pictured: LOCUS Advisor Bonny Moellenbrock spoke alongside Connie Smith of Wells Fargo on the topic of how philanthropy can help bring creative, flexible financing to communities through capital strategies that blend impact investing and grantmaking.
The group experienced a live taping of a Minnesota Public Radio   Conversations on the Creative Economy   episode featuring three local enterprises generating positive impacts in the Twin Cities and beyond, all founded by women of color. – Read More
LOCUS in Raleigh, NC. Deb Markley shared ideas about partnering with foundations during a training for North Carolina Economic Development District staff and partners. Her presentation, “ Leveraging Foundations to Move the Goals of the CEDS Forward ,” explored ideas for staff to more effectively partner with foundations to build more successful regions.
Client Spotlight
A New Transfer of Wealth™ Partnership. Through 2018, United Philanthropy Forum and LOCUS are partnering to provide philanthropic-serving organizations prioritized and discounted services including Transfer of Wealth™ analysis (TOW) as well as customized consulting services on capturing TOW to better support endowment building and local impact investing. LOCUS staff led a webinar for Forum members in May, attended the Forum’s annual conference in Boston, and will offer another webinar this fall. If you are a member of United Philanthropy Forum, visit this page to learn more.
Deb Markley and Travis Green shared a “rooting wealth” presentation with The Community Foundation Serving West Central Illinois and Northeast Missouri . They profiled storie s of community foundations taking roles in economic development and provided a more in-depth exploration of local impact investing for foundation staff and board members.
RSF Integrated Capital Institute.  Travis Green , LOCUS Solutions Consultant, has been accepted to the RSF Social Finance Integrated Capital Institute . The Institute prepares fellows to activate the positive potential of capital by exposing them to experts who use a strategic approach to leverage capital towards social missions. Fellows will participate in a nine-month program that includes three in-person training intensives, access to expert advisors, peer coach, case studies, webinars, and independent study.
News From the Field
The Case Foundation posted a collection of 15 podcasts covering socially responsible business practices and impact investing. –   Listen Here
The New York Times featured an opinion piece showcasing The Business Alliance for Local Living Economies (BALLE) . The article interviews BALLE’s executive director, Rodney Foxworth, about its locally focused fellowships. – Read More  
This The Stanford Social Innovation Review article exploring a new perspective on impact investing and impact versus return. –   Read More
Louisville Metro joined Cities United and the William R. Kenan Jr. Charitable Trust with a $5 million grant to transform a west Louisville, KY, neighborhood. – Read More  
The Center for Community Investment (CCI) selected s ix teams across six communities to receive funding in the Connect Capital initiative . Communities include Central Appalachia, Coachella Valley, CA, Richmond, VA, Seattle, WA, Miami, FL, and Milwaukee, WI. With funding from the Robert Wood Johnson Foundation each team will receive a $200,000 grant to advance their work . –   Read More  
At  Intentional Endowments Network’s (IEN)  round-table on Community Impact Investing, more than 70 endowment and foundation decision-makers shared their interest in working with local communities. –   Read More
Where You'll Find the LOCUS Team
Sept. 10-11 Bridgeport, WV
Deb Markley will present, along with Janet Topolsky, Aspen CSG.
Sept. 12-14 Tupelo, MS
Jane Henderson is a speaker.
Sept. 24-25 Charlotte, NC
Deb Markley will participate.
Oct. 4-5 Wichita, KS
Deb Markley will participate.
O ct. 8-11 Chicago, IL
Teri Lovelace and Dana Williams will attend.
Oct. 14-16 Wichita, KS
LOCUS is a sponsor and session organizer. Deb Markley, Don Macke, Sydney England and Travis Green will attend.
Oct. 23-26 San Francisco, CA
Deb Markley will moderate a rural-focused panel session submitted by LOCUS. Sydney England will attend.
Nov. 1-3 Chicago, IL
Teri Lovelace is a speaker.
Nov. 12-13 College Station, TX
Deb Markley will participate.
Nov. 14-16 Asilomar, CA
Deb Markley will participate.
Stay Connected!
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! Sign Up
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.