Impact Investing
What is Local Impact Investing?
The Foundation defines Local Impact Investing as an investment of our financial resources made to generate a measurable social impact in Spartanburg as well as a financial return. We provide local impact investments through low-interest loans and investments in businesses in exchange for equity. Unlike grants, local impact investments are repaid, allowing the funds to be recycled and continue benefiting the community. We view local impact investing as one of the tools in our toolbox, along with our grantmaking and other community impact initiatives, that helps us achieve our mission.
Most of our local impact investments, to date, have been in the form of low-interest loans to organizations doing work to improve health and well-being for the residents of Spartanburg County.
Since our first local impact investment in 2009—a loan to the City of Spartanburg for the construction of the CC Woodson Community Center—we’ve invested over $5.9 million. Early success with our impact investing led our board of trustees to commit up to 7% of our investment portfolio to local impact investment projects.
Our local impact investments have been focused on projects that:
- Build affordable housing,
- Revitalize communities,
- Create new jobs,Â
- Develop new community spaces and centers,
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- Renovate parks,
- Support cultural organizations, and
- Grow local businesses.
Impact
Since 2009, we have invested over $5.9 million in our community through our impact investing model.
housing
units
early learning
center
renovated
parks
arts & culture programs
community
centers
small businesses supported
Investments at Work
Below are some of the organizations and projects our impact investments have supported.
