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A Practical Guide to Mission Investing in Cash
April 05, 2011By Lisa Hagerman, Tuesday April 5th
Mission-related cash can be an easy first step to mission investing. More for Mission and the Initiative for Responsible Investment recently produced a simple, practical guide to mission-related cash investing (Download PDF). The guide provides an overview of the mission banking universe with approaches and strategies to placing certificates of deposit or a foundation’s operating cash at a community development financial institution (CDFI), credit union, or other community development banking institution. Mission-related cash offers mission-driven foundation investors opportunities to increase access to capital for low-income borrowers and businesses while also providing opportunities to serve a foundation’s targeted population or geographic mission.
The guide includes an example Request for Proposal (RFP) from the Winthrop Rockefeller Foundation as a useful tool in the process of selecting a community development bank. In seeking a CDFI, More for Mission members can access the members-only portal of investable opportunities with a tailored search function of CDFIs by state.
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