CFL Impact CapitalNext Section
Impact Investing refers to the practice of investing in projects that are intended to generate a financial return as well as a tangible social or community benefit. Unlike grants, impact investments are returned to the Foundation and then “recycled” back into the community.
The Community Foundation of Louisville is committed to mobilizing philanthropic resources to build a more vibrant community. While we have distributed more than $500 million in grants since our founding in 1984, we recognize that a variety of tools can be used to benefit the community. Impact investments enable the Community Foundation to engage key stakeholders around important community issues. Investing in local projects that have both a financial return and a social benefit will make our community a more vibrant place to live and work for all.
Visit Mission Investors Exchange for more information on the national landscape for Impact Investing.
Want to know about CFL Impact Capital's efforts in our community? Whether you are a nonprofit considering alternate ways to fund a new project or a donor looking for an interesting way to deploy your charitable capital, check out what we've been up to. We'd love for you to join us in this work.
The Community Foundation’s first Impact Investment provided Navigate Enterprise Center with a $100,000 5-year loan for the micro-enterprise division of Jewish Family & Career Services. During the term of the loan, Navigate makes micro loans (typically amounts $1,000 – $6,500) to entrepreneurs not typically able to secure traditional bank financing.
The Community Foundation extended a $200,000 loan to Community Ventures that provided a portion of the financing for the acquisition and renovation of the former Jay’s Cafeteria at 1812 West Muhammad Ali Boulevard in West Louisville. The result is Chef Space, Louisville’s first kitchen incubator. This vibrant space supports emerging caterers, bakers and food truck operators by providing high quality commercial kitchen space, mentoring and advising, and connections to potential customers and locations as the food entrepreneurs “graduate” into the Greater Louisville market.
The Community Foundation extended a $250,000 loan to Housing Partnership Inc. to acquire the Abbey Manor Apartments as a cornerstone of HPI’s multi-year, $7 million dollar initiative called “Beyond 9th” that will provide high-quality rental housing for households at a variety of income levels, while reducing blight and saving historic residential buildings.
The Community Foundation extended a $100,000 loan to New Directions Housing Corporation to strengthen the facilities and operations of the St. Benedict Center for Early Childhood Education in Louisville’s California neighborhood. This loan is expected to assist the organization as it increases the number of children it is able to serve.
The Community Foundation extended a $250,000 loan to Rowan Downstream, on behalf of the Portland Investment Initiative, to transform a vacant 60,000 square foot warehouse in Louisville’s Portland neighborhood into a home for the University of Louisville’s Master of Fine Arts and Archaeology programs. This investment will loan will help turn a blighted building into a vibrant anchor institution in West Louisville.
The Community Foundation extended a $210,000 loan to River City Housing. This loan will be used to acquire, renovate and sell 7 single-family homes in the Shively / Cane Run area to families with modest incomes.
The Community Foundation extended a $300,000 loan to Volunteers of America Mid-States, helping to turn multi-year capital campaign pledges into cash that can be used immediately for renovations and start-up costs for a second location of Freedom House. Freedom House is a residential, addiction treatment program for parenting and pregnant women.