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Impact Investing Venture Launches To Do Good And Make Money

The Buffalo News Oct 20, 2017
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Impact Investing
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The Community Foundation for Greater Buffalo has teamed up with a group of corporate, private and philanthropic investors in a new venture to do good in the region, while still making money.


If you are looking for more articles and resources for Impact Philanthropy, take a look at these Giving Compass selections related to impact giving and Impact Philanthropy.

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    Giving Compass' Take: • The National Committee for Responsive Philanthropy published some reflections from the Just Transition Forum about making sure the sector is emphasizing more accountability. • What should funders do? The article concludes with a call for more peer support, organization and resource access in efforts to develop more respectful relationships with grassroots groups when it comes to community-led equitable grantmaking. • More knowledge always helps as well. Here are five orgs devoted to closing the racial gap. What does accountability in philanthropy look like today? This was a particularly salient question at the Just Transition Forum, a powerful cross-sector convening hosted by the Building Equity and Alignment (BEA) for Impact Initiative in Jackson, Mississippi, in February. The BEA “brings together dynamic grassroots organizing groups, effective national green organizations and innovators in philanthropy to advance the progress of the environmental movement towards a just transition and directly confront powerful polluters.” ... We discussed philanthropy’s current realities, how we show up and what we bring to the movement. Accountability was a prominent theme: We named that we operate in a sector that has few mechanisms for accountability and transparency, and identified a need to push for structures that support and move philanthropy towards “true accountability.” ... Today, mainstream grantmakers still hold enormous power, privilege and gatekeeping abilities, isolating them from the inequities and injustices experienced at the grassroots. With no “natural predators” beyond the IRS and tax policy in the United States, and ongoing sector disagreement over the fact that foundation dollars are partially public dollars, it’s no wonder that this challenge continues to plague the sector. Reflecting on this same report in 2013, our president Aaron Dorfman wrote, “the more things change, the more they stay the same.” But philanthropy can and must move beyond upwards accountability to boards, donors and founders, and operationalize accountability downwards to nonprofit partners and communities.


The Western New York Impact Investment Fund, a new for-profit entity launched in August but unveiled this week, is designed to bring together motivated investors to pool their capital for both financial and “social” returns. It will focus on opportunities throughout the eight-county region, not just Erie and Niagara counties.

Specifically, officials will target initiatives in education and workforce development, diversity, neighborhood revitalization, health and environment, and job creation in “more economically challenged neighborhoods and communities,” according to a news release announcing the project.

Recognizing that impact investing is a rapidly growing segment of the investment market across the country, the Community Foundation for Greater Buffalo brought together a group of potential investors to create an entity that could attract a broad range of impact investors from within and beyond our region,” said Community Foundation President and CEO Clotilde Perez-Bode Dedecker.

Read the full article by Jonathan D. Epstein about impact investing on The Buffalo News

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