Baltimore Community Foundation increases impact investing efforts as giving remains high
Four years after launching an impact investing fund aimed at making loans to local community groups, Baltimore Community Foundation is growing this part of its portfolio further as giving remains high.
The foundation first started an impact investment pool, known as Invest For More, in 2018 using 4%, or about $6 million, of its endowment. Now, that pool of money is about to get even bigger, said CEO Shanaysha Sauls. Starting this year, BCF increased that allocation to 5%, or about $8 million, of its endowment, a move that follows the creation last year of a new donor-advised fund specifically for impact investing. (A donor-advised fund is a charitable investment account that allows the donor to claim an immediate tax deduction and then direct grants to charities of their choice over time.)
Source: Baltimore Business Journal