ImpactAlpha, April 11 – Lancaster County Community Foundation is the latest community foundation to move into impact investing. The foundation made a $250,000 loan to Lancaster Housing Opportunity Partnership, which supports affordable housing development and home buying in the county for low and middle-income families.
Another $250,000 went to Community First Fund, a community development financial institution focused on low-income areas in and around Lancaster County.
- The foundation expects… to make returns of between 1% and 3% on the loans.
- The foundation’s $100 million endowment… has been traditionally invested through a traditional portfolio strategy until now.
The foundation is moving towards impact investing as part of the Local Economy Foundation Circle organized by the Business Alliance for Local Living Economies. BALLE is planning to convene its third cohort of place-based foundations next month.