GIVE NOW

Community Impact Investing

The Community Foundation for Monterey County continually looks for ways to deepen our community impact. The Community Impact Investment (CII) program is a way to utilize the assets of the foundation beyond grantmaking for the good of the community.

Impact investments are not grants. They are placements of capital intended to bring market or near market returns. An allocation for CII is included in our Investment Policy Statement as part of the fixed income asset class.

“A percentage of our investment dollars is being placed locally, addressing local issues, while bringing a competitive return to the portfolio.  If our assets can assist in building stronger communities, help people achieve their economic goals and receive a return, everyone wins.” – Dan Baldwin, President/CEO

History of Impact

The CII initiative was created in 2018 to strengthen communities through investments. Initially, the Foundation used Community Development Financial Institutions (CDFIs) as intermediaries, rather than making direct loans.

  • In 2018 and 2019 the CFMC committed $750,000 to California FarmLink and $1 million to Accion Opportunity Fund. This investment supported low-cost loans to primarily Latina and Latino farm businesses and small minority business owners  in Monterey County who would otherwise have difficulty securing financing.
  • In 2020, the CII committee authorized a $500,000 loan for Mission Economic Development Agency (MEDA) for El Pajaro CDC Fondo Adelante to provide financing to underserved businesses in Monterey County. And in 2021 they approved a $250,000 loan to Community Housing Improvement Systems & Planning Association (CHISPA) for predevelopment costs for an affordable housing project in King City.
  • In 2022 the CFMC Foundation loaned $1 million to the United Way of Monterey County towards the purchase of the Community Impact Center in Salinas and added $1,770,000 to the CII portfolio in 2023 by making a loan to the Monterey Museum of Art for their acquisition of the historic Miller Adobe property.
  • In 2024 the CII program loaned $1,317,275 to Gathering for Women to purchase the adjacent building to expand their services and loaned $2 million to the Pacific Repertory Theatre to support completion of the historic Golden Bough Theatre.  

The CFMC will continue to invest, beyond grantmaking, to broaden its impact in our community.

Thanks to the Community Foundation's investments, small farmers like me receive support and capital to establish our own businesses. Our farm's success makes local communities stronger."

Javier Zamora, Owner, JSM Organics, FarmLink client
GIVE NOW

Newsletter

Sign up to our newsletter

© 2024 Copyright The Community Foundation for Monterey County.
CFMC
Skip to content