ImpactAlpha, April 16 – The Community Foundation of Greater Atlanta has launched a $10 million fund to spur impact investing across its donor base. The GoATL fund will make low-cost loans to for- and non-profit organizations working in arts, community development, education, well being and “nonprofit effectiveness.” The foundation’s Mark Crosswell told Hypepotamus that disparities continue to grow in the region in income as well as access to quality healthcare, education or opportunity.”
- Assets are growing… The community foundation has about $1 billion in assets, and received $144 million in new contributions last year.
- Housing as a community impact theme… GoATL’s first investment is a $750,000 loan to Atlanta Neighborhood Development Partnership to support single-family affordable housing and homeownership.
Lancaster County Community Foundation in Pennsylvania also backed a housing non-profit as its first impact investing deal. Read more on the potential of community foundations in shaping local impact investing.