Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Aid Beyond Trade-offs Impact en las Americas New Revivalists Women Rising in India Operation Impact
Smarter Money Women Rising 2030 Finance Locavesting Inclusive Economy Regeneration Impact Tech New Power Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Industry News Impact Management Good Business Personal Finance Faith and investing Billionaires
Gender Lens Investing Women Rising in India
SDGs Climate Finance Clean Energy Innovative Finance Full Stack Capital Long-termism
Opportunity Zones Investing in place
Entrepreneurship Return on Inclusion Good Jobs Inclusive Fintech Creative economy Housing New Schooled Well Being People on the Move
Conservation Finance Farmer Finance Financing Fish
Blockchain/AI/IoT Urban Tech Food Tech Inclusive Fintech
Human Rights Democracy and Peace News and Information
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States Growth Markets
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Treasury Department awards $120 million to community ‘capital magnet’



The Trump administration is (again) seeking to ax funding for more than 1,000 community development financial institutions.

Meanwhile, the Treasury Department’s Capital Magnet Fund continues to support CDFIs and housing nonprofits that attract capital to distressed communities. The latest round of funding went to 40 housing and community development organizations.

The Local Initiatives Support Corporation, or LISC, which was awarded $7.5 million, aims to spur $150 million in community investment. LISC’s past $10 million in Capital Magnet Fund grants have led to $445 million in development funding.

The Reinvestment Fund got $4.5 million. The Philadelphia-based CDFI has launched a successful public bond offering and a pay-for-success fund. For each dollar of public funding deployed by The Capital Magnet Fund, more than $10 dollars of private money has been mobilized.

The full roster of Capital Magnet Fund recipients is available here.

You might also like...