Slated to Provide Capital to Organizations Addressing Issues Around the State
The Oregon Community Foundation (OCF) announced a new source of capital today for Oregon’s nonprofits and mission-oriented for-profit companies. The Foundation is launching the Oregon Impact Fund, which will provide impact investments in organizations that are addressing problems facing urban and rural communities, such as access to affordable housing, health care and jobs.
Impact investments produce a financial return in addition to having a positive impact on society and/or the environment. The Oregon Impact Fund will be a source of growth capital for scaling proven models.
The fund is being launched with $4.9 million in investments with a goal of reaching $20 million. Initial investments are from donors who currently have funds at OCF: The Gray Family Foundation, Dave and Christine Vernier, Hon. Randy Weisberg, Tom Bowerman, Barre and Robert Stoll, Cindy and Duncan Campbell and Chris and Tom Neilsen. The Headwaters Fund of OCF from Central Oregon also contributed.
OCF has promised a one to one match for every dollar invested in the Fund, up to $10 million.
“This fund is the latest in a series of efforts that OCF has invested in over the past nine years to improve access to capital for Oregon companies and nonprofits,” said OCF President and CEO Max Williams.“OCF currently invests one half of one percent of the endowment in Oregon-based venture capital funds that invest in early or growth stage companies based in Oregon. The Oregon Impact Fund will create a vehicle for investing more of the endowment in Oregon nonprofits and mission-oriented for-profits in ways that are greatly beneficial to Oregon communities.”
OCF launched a pilot program in 2014 and has provided $2.75 million in loans to organizations like Craft3, Ascent Funding, CASA of Oregon and Ecotrust. Through the process, the OCF board of directors learned about the significant demand for capital to support revolving loan funds and other entities that could scale an important project for society with access to non-traditional financing. They appreciate the opportunity to provide a leadership role in making this capital available.
To invest in the OCF Oregon Impact Fund or determine whether you are eligible to request an investment, contact Melissa Freeman, MFreeman@oregoncf.org.
The Oregon Community Foundation
The mission of The Oregon Community Foundation is to improve life for all Oregonians through the power of philanthropy. OCF works with individuals, families, businesses and organizations to create charitable funds to support the community causes they care about. Through these funds OCF awarded more than $108 million in grants and scholarships in 2016.
www.oregoncf.org.
