$2 BILLION in IMPACT …And Counting
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$2 BILLION IN IMPACT …and counting 2014 IMPACT REPORT At Capital Impact Partners, we work with communities to create a strong fabric of high-quality services that foster good health, job creation, economic growth, and interconnectedness—empowering individuals to improve their lives and livelihoods. + 30 = $2 YEARS BILLION A mission-driven experience working invested in Community Development in underserved projects that deliver Financial Institution communities social impact HEALTHY FOOD DIGNIFIED AGING Why we do it: $132 MILLION + $18 MILLION + Why we do it: Kids in Invested in over Invested in over Green House communities elders maintain with safe places 79 stores & 166 Green House homes + self-care abilities to play and 1 MILLION customers 143 village communities longer, with fewer access to & over 14 THOUSAND elders experiencing healthy foods decline in late-loss are 56% less activities of daily likely to be living. obese. HEALTHY FOODS AFFORDABLE HOUSING HEALTHCARE Why we do it: $207 MILLION + $752 MILLION + Why we do it: Extremely Invested in over Invested in over Improved low-income asthma control households are 229 communities & 506 clinics & for low-income more likely to 35 THOUSAND units 2 MILLION patients and minority be located in children equals high-crime healthier lives neighborhoods and fewer and structurally PHARMACY missed days of inadequate school. units. COMMUNITY HEALTH CENTER FOR SALE DENTAL EDUCATION COOPERATIVES Why we do it: $664 MILLION + $278 MILLION + Why we do it: Median weekly Invested in over Invested in over The average earnings of food cooperative full-time 219 schools & 208 Cooperatives stimulates the workers with a 228 THOUSAND & 863 THOUSAND economy by high school students customers purchasing diploma are nearly 20% of its $180 higher products from than those local sources. without one. S C H O O L CO-OP FOR SALE To view the full info-graphic visit: www.capitalimpact.org/why-we-do-it 30 YEARS OF IMPACT 2014 was a milestone year for Capital Impact Partners. Among our many achievements is the fact that we crossed the $2 billion line in loan disbursements to projects in underserved communities. Even more impressive is that, while it took 25 years to reach the $1 billion mark, it only took five to reach our second billion. Behind these numbers is what matters most — our ability to work with partners and borrowers and touch the lives of those most in need. Terry Simonette President & CEO In this report, you will meet Devon, who recently graduated from the Henry Ford Academy in Detroit and is now attending the College for Creative Behind these Studies. You will experience a day in the life of one impressive of our Green House homes and witness how this innovative model is helping its residents age with numbers is dignity. You will see how San Francisco’s South of what matters Market Health Center is serving as the safety net for patients like Ray Sullivan and Susan Gouveia, who most, our would otherwise have gone without health care. ability to work Confidence in our ability to create impact was again with partners recognized in expanded partnerships with investors like and borrowers JPMorgan Chase as well as a number of awards given through the U.S. Department of Treasury’s Community and touch the Development Financial Institutions Fund. I invite you to lives of those go online to read our interview with Aaron Seybert at most in need. JPMorgan Chase as well as our full suite of stories. We also continued to demonstrate our ability to take small innovative models and scale them nationally. Since 2010, our Village-to-Village Network—which allows elders to age in their homes with community support—has increased 200 percent, to 141 villages across 41 states, serving 25,000 seniors. With approximately 100 villages in the development stage, we felt that the organization was well-positioned to transition to an independent group of village leaders for ongoing management. Lastly, given the dedication to our mission both internally and externally, I am particularly proud that Capital Impact was named a Top Workplace by The Washington Post. Through our ingenuity and strategic financing, Capital Impact remains a leader in improving the lives of low-income individuals and the communities in which they live. And, as our 2020 strategy begins to take shape, I am excited about the possibilities ahead of us. The opportunity to build strong, vibrant communities of opportunity in underserved areas is limited only by our imagination. Terry Simonette President & CEO 2014 IMPACT HIGHLIGHTS $112 MILLION 665,000 CLOSED SERVED 12,000 EDUCATION: JOBS 15,000 CREATED STUDENTS HEALTHCARE: HEALTHY FOOD: 500,000 75,000 PATIENTS PEOPLE LENDING 2014 IMPACT FOR IMPACT HIGHLIGHTS Although lending is a primary activity at Capital Impact Partners, it is a means to an end: we use capital as a tool to effect positive change in underserved communities across the country. When we consider a new loan, the first question we ask is whether it will create jobs or provide services and opportunities for the people who live in the communities we serve. It is only after we ascertain whether the financing request achieves a Scott Sporte positive social objective that we assess the project’s Chief Lending financial viability. Officer The projects we finance do not fit a conventional We have mold, and many of their fundamentals do not fit within the guidelines of regulated financial demonstrated institutions. Each of our transactions is different and year in and requires our staff to understand the intricacies of layered structures, to utilize creative approaches to year out that risk mitigation and to provide technical assistance to we are able to our borrowers. provide capital Our mission-driven approach drives us to provide at a consistent a higher level of service and support to see that good projects in low-income communities receive level to achieve the financing they need. This “artisanal” approach significant to lending takes time and patience, but we have community demonstrated year in and year out that we are able to provide capital at a consistent level to achieve impacts. significant community impacts. We saw this through the construction of grocery stores to combat food deserts in California and Michigan; in the expansion of community health centers in New York and North Carolina; in new educational choices in Massachusetts and Florida; and in the skilled nursing care provided in homelike settings in Minnesota and Colorado. We also sharpened our focus in Detroit. With a substantial investment from JPMorgan Chase, we expanded our work increasing population density, building walkable communities and expanding services in new corners of the city. In the process, we helped to preserve the city’s unique culture by funding projects that saved historic properties. I am incredibly excited about the opportunities lying before us as we seek new ways to increase our impact in the communities we serve. Scott Sporte Chief Lending Officer SEE THE FULL STORIES ONLINE AT: www.capitalimpact.org/annualreport/2014.php Bringing Dignity to Henry Ford Academy Colorado’s Elders Student Designs His Future The Green House Homes Henry Ford Academy: School at Mirasol—Loveland, CO for Creative Studies —Detroit, MI Witness a day in the life of this Read how one of Detroit’s most community through a photo essay unique charter schools is helping documenting the dignified aging students like Devon literally experience of its 70 residents. “design” their own future. “I’m empowered by the Green House “They talked to me about the philosophies to see each resident as importance of hard work and an individual and build relationships… what you can accomplish… It’s love” I started to see my potential” —Desiree Baumeister —Devon Yancy Green House Shahbaz Henry Ford Academy Graduate Affordable Housing A Medical Safety Net SWAT Team for San Francisco’s Hello Housing—Novato, CA Vulnerable Residents South of Market Health Center Join Hello Housing’s quick thinking —San Francisco, Ca team as they race to save a home from foreclosure, ensuring an affordable Step inside this innovative health place to live for a needy family. center and hear patients and staff “I am thankful that I work with describe how their lives have been transformed. a great team who will jump at a moment’s notice…It is a testament “I think this clinic saved to the passion we all have for my life in a lot of ways” ensuring affordable housing for —Susan Gouveia those who need it most.” Patient —Matt Warner Hello Housing STORIES OF IMPACT Rebuilding Detroit’s Big Green Truck “Main Street” Delivers Healthy Bounty Block by Block Produce on the Go—Merced, CA Multiple Projects Watch the video on how Don and his Walk down Woodward Avenue and big green truck are eliminating a food see how our financing is helping desert in the midst of California’s to support local projects and bring agriculturally rich central valley. vitality back to Detroit. “I’m hoping this teaches them that “We could have picked up and when mom shops healthy, mom moved anywhere. Detroit was in a feeds us healthy... you break the decline, but we decided to be part cycle of bad things, and you start of its solution” the cycle of good things” – Scott Lowell —Maribel Baron Business Owner Customer Co-ops & Capital Impact: Teaming Up with Staying True to Our Roots JPMorgan Chase for Interview with Alison Powers Detroit’s Neighborhoods Interview with Aaron Seybert Take a journey with Alison Powers as she reminds us that Capital Meet Aaron Seybert as he talks Impact was born out of the about our partnership, the launch cooperative movement – and how of the Detroit Neighborhoods Fund we are just getting started.