Impact Investments at RWJF

Investing in communities helps people thrive. We’re excited to announce a new $325 million allocation from RWJF to our Impact Investments team! Bringing our total allocation to $625 million, we look forward to continuing our work advancing racial equity, strengthening the community development finance system, and making program-directed investments. For more on our historic announcement, click here: https://rwjf.ws/3R0gmJd

📣We’re hiring! Our team at RWJF is looking for a new Impact Investment Officer.  Come join us in our efforts to tap the power of impact investing to ensure everyone—no matter who they are, where they live, or how much money they make—has the resources they need to live their healthiest lives possible. Get all the details and apply here: https://rwjf.ws/3M9KOOo

Extreme weather fueled by climate change is near impossible to ignore. We see orange skies from wildfires, experience flooding from powerful storms, and feel the stifling effects of extreme heat. But the broader, longer-term impacts of climate change, such as economic consequences in local communities, are more easily overlooked.  But these more subtle changes—like rising costs of food, water, energy, and insurance, among others—will have tremendous effects on the U.S. in the years to come. In a recent interview with climate journalist Abrahm Lustgarten, Linda Poon, a Bloomberg CityLab writer, dives into how climate change is likely to cause major migrations across the U.S. as people in vulnerable areas try to escape the declining economies in their hometowns for more climate-stable areas.  It’s crucial for impact investors to be aware of these trends, both economic and environmental, to ensure families' health and financial security remain at the forefront of our efforts in a changing world. Explore the insights shared by Lustgarten in the interview here: https://lnkd.in/eiAjeYbh

The key to supporting economic development on tribal lands? Investing in organizations that strengthen Native American communities in meaningful ways—such as by increasing access to affordable housing, good jobs, and more. Community development financial institutions (CDFIs) like the Wind River Development Fund (WRDF) drive these efforts forward by providing financial services to communities left out of the traditional finance system. As such, Native-focused CDFIs across the nation play an instrumental role in generating economic opportunity and reducing health disparities for Indigenous communities. Last week, the U.S. Economic Development Administration announced WRDF as a recipient of the Recompete Pilot Program, an initiative developed to create and connect people to good jobs in economically distressed areas through flexible, locally driven investments. The $36M award will advance the organization's efforts to grow local Indigenous economies by developing a robust eco-tourism network, funding workforce development programs, and increasing access to healthcare. Earlier this year, RWJF provided WRDF with a grant to support their new Executive Director, Paul F. Huberty, in implementing his strategy and vision. He and his team used some of the funds for application writing support and to begin predevelopment of the Recompete program projects. We look forward to witnessing the amazing work they do with their award.    https://lnkd.in/egDH7SNr

What glimmers of hope are you seeing in your community that other health equity leaders, philanthropic funders, and investors could learn from? For us, the answer is the work of our investees that removes barriers to good health placed in front of some communities based on race or income. By joining together, stakeholders in different sectors can unite to advocate for better policies and systems that give everyone a fair and just opportunity to live their healthiest life. Sharing ideas, challenges, and solutions is one way to speed up our progress. Drop your thoughts in the comments below!

We’ve talked a lot about homeownership being the best pathway for families to build financial security, but homeownership is about 70% higher among White households than Black households in the U.S. This staggering difference did not come about by chance: it is the result of harmful policies and practices, historical and present, that place uneven barriers to homeownership in front of families of color. Since owning a home can lead to positive health outcomes and improve overall wellbeing, breaking down barriers to homeownership is crucial for advancing health equity. To help families purchase their own homes, the Dearfield Fund For Black Wealth, an RWJF-investee, provides no-interest loans of up to $40,000 for prospective Black homebuyers in Colorado. This unique model helps families build financial security, generates financial returns, and creates meaningful social impact.  The Dearfield Fund aims to support 500 first-time homebuyers, generating $50M in cumulative new wealth over 10 years. And they’re already well on their way to reaching this goal. Curious to learn more about how this works? Head to this link: https://rwjf.ws/3WVZEhA  

We’re thrilled to share that our team director, Kimberlee Cornett, was included in the most recent Forbes’ 50 Over 50 list. Over the last four years, Kimberlee has been instrumental in guiding the Impact Investments team at RWJF to where we are now. Her leadership and the team’s hard work have resulted in a strong portfolio of investments that aim to ensure everyone has what they need to thrive. We have no doubt that her strategic mindset and long-term vision for the team will allow us to continue tapping the power of impact investments for advancing health and racial equity across the U.S.  #ForbesOver50 #ImpactInvesting #Finance 

Policies and practices around mortgages, both local and federal, can greatly impact homeowners' financial security.  Since the COVID-19 pandemic, mortgage lending has undergone significant transformation, with some new protocols helping to prevent hundreds of thousands of home foreclosures and protecting people’s credit scores.  The Urban Institute’s research into the Loss Mitigation Toolkit measured the impact of some of these protocols across the country. One option, called forbearance, allowed homeowners to make payments at a later time than they were owed and was nearly 50% more effective than other loss mitigation policies as a first step in saving people’s homes. Read more in the full report, funded by RWJF: https://lnkd.in/gyM-CrUM  

Invest Appalachia’s multifaceted approach to community development continues to make them a leader in supporting the economic development of rural places. Check out the link below to learn more about the impact they are creating across the Appalachian region and beyond! 

👏Kudos to The Kresge Foundation for supporting and strengthening cities across the country by tapping all the philanthropic tools in their toolbox—including impact investing. Their long-term efforts that bring grantees and partners together to work and learn with one another continue to create impact.  It’s great to learn more about their work in New Orleans, Memphis, and Fresno! Read more below ⬇️