Social and Behavioral Sciences Commons^™

Impact Investing And Community Development, Ronald Phillips

Maine Policy Review

The growing and worldwide practice called “impact investing”—investing capital for a social as well as financial return - is increasingly challenging private investors and managers of wealth, university endowments, mutual funds, foundations, pension funds, and individuals to direct capital in ways that contributes to the good of society. With roots in the 1960s civil rights era, the multi-billion dollar U.S. Community Development Corporations (CDCs) and Community Development Financial Institutions (CDFIs) industry can serve as a major vehicle for impact investors. CDCs/CDFIs raise and deploy private and public capital to benefit marginalized populations and regions of the country aspiring for economic …