Capital Impact Partners

Capital Impact Partners
Founded1982; 42 years ago (1982)
TypeNon-Profit Community development financial institution
Location
Area served
United States
MethodLoans, Grants, Investments
Revenue (2017)
$23,898,985[1]
Expenses (2017)$28,568,582[1]
Websitewww.capitalimpact.org

Capital Impact Partners, or simply Capital Impact, is an American congressionally chartered, District of Columbia nonprofit and certified community development financial institution that provides credit and financial services to underserved markets and populations in the United States.[2][3][4] S&P Global issued Capital Impact its first rating in 2017.[5]

Capital Impact was created in 1982 as the nonprofit arm of the National Cooperative Bank as part of the National Consumer Cooperative Bank Act.[2][4][6] Capital Impact became independently certified as its own financial institution by the U.S. Department of the Treasury's Community Development Financial Institutions Fund in 2011.[3] The company's president and CEO is Ellis Carr, the chief lending officer is Diane Borradaile, the chief financial officer is Natalie Gunn, and Amy Sue Leavens is the chief legal counsel.[7][8][9] From 1994 until 2016, Terry Simonette served as president and CEO of Capital Impact until Ellis Carr was named as his replacement.[10]

The company is among the largest community development financial institutions in the country. As of 2015, they invested over $2 billion[11] into senior care, affordable housing, health care, education and public nutrition projects in distressed and low-income communities across the country.[3][4] These investments include the creation of over 9,000 units of affordable assisted living; more than 35,000 units of affordable housing; 3 million square feet of health center space providing more than 1 million patient visits annually; $500 million for developing charter schools creating more than 200,000 seats for children; and healthy food retail in over 60 locations. Capital Impact has created around 31,000 new jobs for low-income individuals.[11][6][12] In 2015, Capital Impact became a member of the Federal Home Loan Bank of Atlanta.[13] Capital Impact has been recognized for its social impact, financial ratings and policies by Aeris, a company that rates community development financial institutions, each year since Aeris was established in 2007.[14] In October 2016, Capital Impact received two allocations from the Treasury Department's Community Development Financial Institution Fund, including a $2 million financial assistance award.[15]

  1. ^ a b "Capital Impact Partners" (PDF). Foundation Center. Retrieved 26 June 2017.
  2. ^ a b National Consumer Cooperative Bank Act (PDF) (Public Law 95-351, Statute 92). 20 August 1978. Retrieved 11 December 2015.
  3. ^ a b c Andrews, Nancy; Hinkle-Brown, Don (January 27, 2015). "Capital Magnet Fund creates 'bang for the buck' in affordable housing". TheHill.com. News Communications, Inc. Retrieved May 6, 2015.
  4. ^ a b c Pothering, Jessica (16 December 2014). "How the First Lady Helped Small Grocery Businesses Reduce 'Food Deserts' in California". Entrepreneur.com. Entrepreneur Media Inc. Retrieved May 6, 2015.
  5. ^ "S&P Global Ratings". S&P Global. Retrieved April 9, 2017.
  6. ^ a b Kanani, Rahim (January 8, 2012). "NCB Capital Impact: Investing Billions into Underserved Communities Nationwide". Forbes.com. Retrieved May 6, 2015.
  7. ^ O'Meara, Mark. "Late Allocation Announcements, Market Maturity Create High Demands for NMTCs" (PDF). Novoco.com. Novogradac & Company LLP. Archived from the original (PDF) on December 22, 2015. Retrieved May 6, 2015.
  8. ^ "People on the Move, Natalie Gunn - Capital Impact". washingtonbusinessjournal.com. May 9, 2016. Retrieved May 16, 2016.
  9. ^ Slavinsky, Roksana (March 11, 2015). "Amy Sue Leavens - Capital Impact". bisnow.com. Bisnow. Retrieved May 6, 2015.
  10. ^ New Leaders at the Rainforest Alliance and the American Ballet Theatre, Anais Strickland, January 15, 2016, The Chronicle of Philanthropy, May 17, 2016
  11. ^ a b Amy Sue Leavens - Capital Impact Partners, March 11, 2015, Roksana Slavinsky, Bisnow, May 17, 2016
  12. ^ "Capital Impact Partners Investment Partner Profile". wkkf.org. WK Kellogg Foundation. Retrieved May 6, 2015.
  13. ^ Connecting Big Banking to Community Investment, Oscar Perry Abello, February 19, 2016, Next City, May 17, 2016
  14. ^ The Policy Behind the Investing Behind That New Neighborhood Grocery, Oscar Perry Abello, December 21, 2015, Next City, May 17, 2016
  15. ^ "FY 2016 CDFI Program Awardees" (PDF). CDFI Fund. Archived from the original (PDF) on October 26, 2016. Retrieved October 25, 2016.