Half of U.S. economic output is concentrated in urban areas, but half isn’t.
Intermountain Impact Investments, a Washington-based nonprofit fund manager, was founded by two self-described “middle aged guys” who’ve spent their careers running and funding nonprofits.
Its new $2.5 million fund targets cities with populations under 50,000 in eastern Washington, eastern Oregon, Idaho, Wyoming, and Montana.
The Rural Asset Replacement Fund, the first of three planned funds, will finance the replacement of the “stuff” that wears out, from roofs at community centers to refrigerated trucks for food banks.
i3 has big plans to build $1 billion of rural wealth, create 20,00 jobs and improve the lives of 20,00 children and their families by 2025.