The Impact of Community Investing
Our model of impact is simple: every dollar that investors place with the Fund goes directly to New York City organizations that are building assets and creating opportunities for disadvantaged New Yorkers. While universally accepted metrics do not exist, we consider a few straightforward quantitative results to develop a sense:
| Organization/Investment Type | Contact Fund Investments | Benefits |
|---|---|---|
|
Housing & Micro-lenders |
$350,000 |
40 microloans in NYC |
|
Affordable Housing Developers |
$250,000 |
Funds leveraged:$4.2mm Units created: 24 |
|
Social Enterprises |
$250,000 |
9.5% revenue growth y/y |
|
Working Capital |
$250,000 |
15% net asset growth y/y |
What does a micro-loan really do? Mexican immigrant Gladys Remache was rejected by three banks before finding Accion-New York, where she was able to secure a $20,000 loan to expand her five year old restaurant in East Harlem, as reported by the New York Times.
What does affordable housing really do? Because of a New York City Housing Partnership program, middle-income construction manager Margo Fisher-Gouveia was able to purchase a home in Queens without the use of exotic mortgage products or aggressive financing, as reported on realtor.org.