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Leveraging Foundation Balance Sheets For Greater Impact: Piloting A Pooled Guarantee Program, Jane Reisman, Jim Baek, David Newsome, Christine Ryan
Leveraging Foundation Balance Sheets For Greater Impact: Piloting A Pooled Guarantee Program, Jane Reisman, Jim Baek, David Newsome, Christine Ryan
The Foundation Review
A guarantee instrument is a credit enhancement tool that can enable philanthropies to unlock millions or billions of dollars for societal impact. The Community Investment Guarantee Pool, created in 2019 by a collaboration of philanthropies and allied impact investors, or guarantors, is a novel initiative that uses guarantees to leverage the balance sheets of foundations and other institutional investors for enhancing the credit of intermediaries in the affordable housing, small-business, and climate markets. As the guarantees are unfunded, foundations continue to keep their endowment invested in the conventional market.
This article describes the Community Investment Guarantee Pool, details its theory …