This document discusses social finance for affordable housing. It defines social finance as investments that generate financial returns while also creating positive social or environmental impacts. Social finance is an important way to mobilize private capital for affordable housing projects. Examples of social finance for housing in Ontario include bonds issued by the Toronto Community Housing Corporation and YWCA Canada that raised funds for affordable housing developments. While there are challenges to social finance in housing like stable revenue streams and organizational capacity, opportunities exist through models from other jurisdictions, capacity building resources, and strategic solutions that leverage private capital at scale.
The document discusses social finance for social housing in Ontario. It provides an overview of social finance, describing it as an investment approach that aims to solve social or environmental challenges while generating financial returns. Examples of social finance deals in affordable housing, clean technology, and microfinance are presented. Key drivers in the housing sector that could attract social finance are identified as high housing demand, need for housing maintenance and improvements, and demonstrated financing needs.
Presentation on social finance and social housing including background on MaRS, the Centre for Impact Investing, motivations, case studies, public policy implications, and areas of interest for housing providers. As presented at CHRA Pre-Congress in May 2012.
The document summarizes information from a presentation on social finance and affordable housing. It discusses barriers to affordable housing development, sources of public funding, and financial innovations used in other countries to increase funding for affordable housing projects, such as social impact bonds. Potential strategies proposed include establishing a limited partnership to attract private investment in supportive housing.
Social investment, also known as impact investment, provides capital to generate both social and financial returns. It includes a range of financial products like debt, equity, and quasi-equity that are used to support social enterprises and organizations. The social investment market includes institutions like Big Society Capital that provide funding to intermediaries and organizations working in sectors like housing, education, and health to improve people's lives and communities. The government has taken steps to increase both the supply of and demand for social investment through various funds and regulatory changes.
FCLF is a CDFI that provides financing for non-profits doing community development work. Since 1996, FCLF has provided over $51 million in 173 loans totaling over $250 million for projects, creating over 5,600 jobs and serving over 22,500 people. Metropolitan Ministries is expanding its human services campus using NMTC financing from FCLF. The expansion will add housing, increase served populations, and allow additional services like education programs. FCLF's NMTC projects total $358 million and have included facilities like schools, manufacturing plants, and healthcare centers.
1) Impact investing seeks to generate financial returns while also creating positive social and environmental impacts. It provides capital to address issues where charitable and government funds fall short.
2) The article profiles several impact investments that provide affordable housing, education, jobs, and other benefits. These investments involve a variety of players, including banks, foundations, and individuals, showing the potential of impact investing to attract capital from diverse sources.
3) For impact investing to achieve its potential, industry leaders must work together to measure impacts, build infrastructure, and create financial products that meet investor needs for transparency and liquidity. Recent innovations point to new opportunities for banks and other players in impact investing.
As a follow up to our 2/26/14 webinar, Social Impact Bonds 101, Robert Esposito and Shawn Pelsinger, two NYU Law and Social Enterprise Fellows, joined us to expand upon our original discussion with a deeper look into the growth of SIB's in the Unites States and the implications for the philanthropic sector. Our two experts took us through a number of recent developments around SIB's in the U.S., including the fate of guarantors, the growth of multiple-funding sources, the expanding position of investment banks for financing and the ultimate role of foundations and philanthropy. This was the second webinar in a four-part series with Public Allies.
The document discusses guidelines for establishing a social business fund to support social businesses. It outlines that the fund would study and evaluate new social businesses, help define success metrics, and provide information to social business investors. It recommends the fund provide all types of financing to social businesses and lists potential financers. The document also provides templates for a social business funding agreement and questionnaire for designing social business projects.
The document discusses social finance for social housing in Ontario. It provides an overview of social finance, describing it as an investment approach that aims to solve social or environmental challenges while generating financial returns. Examples of social finance deals in affordable housing, clean technology, and microfinance are presented. Key drivers in the housing sector that could attract social finance are identified as high housing demand, need for housing maintenance and improvements, and demonstrated financing needs.
Presentation on social finance and social housing including background on MaRS, the Centre for Impact Investing, motivations, case studies, public policy implications, and areas of interest for housing providers. As presented at CHRA Pre-Congress in May 2012.
The document summarizes information from a presentation on social finance and affordable housing. It discusses barriers to affordable housing development, sources of public funding, and financial innovations used in other countries to increase funding for affordable housing projects, such as social impact bonds. Potential strategies proposed include establishing a limited partnership to attract private investment in supportive housing.
Social investment, also known as impact investment, provides capital to generate both social and financial returns. It includes a range of financial products like debt, equity, and quasi-equity that are used to support social enterprises and organizations. The social investment market includes institutions like Big Society Capital that provide funding to intermediaries and organizations working in sectors like housing, education, and health to improve people's lives and communities. The government has taken steps to increase both the supply of and demand for social investment through various funds and regulatory changes.
FCLF is a CDFI that provides financing for non-profits doing community development work. Since 1996, FCLF has provided over $51 million in 173 loans totaling over $250 million for projects, creating over 5,600 jobs and serving over 22,500 people. Metropolitan Ministries is expanding its human services campus using NMTC financing from FCLF. The expansion will add housing, increase served populations, and allow additional services like education programs. FCLF's NMTC projects total $358 million and have included facilities like schools, manufacturing plants, and healthcare centers.
1) Impact investing seeks to generate financial returns while also creating positive social and environmental impacts. It provides capital to address issues where charitable and government funds fall short.
2) The article profiles several impact investments that provide affordable housing, education, jobs, and other benefits. These investments involve a variety of players, including banks, foundations, and individuals, showing the potential of impact investing to attract capital from diverse sources.
3) For impact investing to achieve its potential, industry leaders must work together to measure impacts, build infrastructure, and create financial products that meet investor needs for transparency and liquidity. Recent innovations point to new opportunities for banks and other players in impact investing.
As a follow up to our 2/26/14 webinar, Social Impact Bonds 101, Robert Esposito and Shawn Pelsinger, two NYU Law and Social Enterprise Fellows, joined us to expand upon our original discussion with a deeper look into the growth of SIB's in the Unites States and the implications for the philanthropic sector. Our two experts took us through a number of recent developments around SIB's in the U.S., including the fate of guarantors, the growth of multiple-funding sources, the expanding position of investment banks for financing and the ultimate role of foundations and philanthropy. This was the second webinar in a four-part series with Public Allies.
The document discusses guidelines for establishing a social business fund to support social businesses. It outlines that the fund would study and evaluate new social businesses, help define success metrics, and provide information to social business investors. It recommends the fund provide all types of financing to social businesses and lists potential financers. The document also provides templates for a social business funding agreement and questionnaire for designing social business projects.
The document provides information about the Low Income Housing Tax Credit (LIHTC) program, including:
- It was established 28 years ago and has financed over 2.6 million affordable housing units, creating 95,000 jobs annually and raising $100 billion in equity capital.
- Each state receives tax credits based on its population that it awards competitively to affordable housing developments. Developers sell the credits to investors to raise equity capital.
- The program has been very successful, with a low foreclosure rate of 0.65%, and it creates safe, decent affordable housing while also stimulating local economies and job growth.
- However, the need for affordable housing still outpaces production, with a shortage of over 5
N.C. Community Development Initiative Biennial Reportnc_initiative
The North Carolina Community Development Initiative is a statewide public-private partnership established in 1994 to provide leadership, capital investment, and support to community development corporations (CDCs) and other community-based economic development projects. The Initiative's mission is to improve well-being and quality of life in low-resource communities. It outlines nine core values including stewardship, transparency, flexibility, accountability, strategic partnerships, strategic thinking, ethical philanthropy, leadership, respect and courage. Over 15 years it has grown from a small startup to a national model, supporting CDCs through investments, grants and programs while maintaining fiscal accountability.
An overview of the regulatory and competitive landscape of social enterprise in Europe, with a lot of across-country diversity. Attention is paid to incorporation choice, finance, networks, and linkages with local economic development.
Social Finance Applications: Case Studies for Affordable HousingAdam Spence
An overview of three case studies outlining social finance vehicles for the acquisition, construction, and retrofit of affordable housing in US and Canada. This presentation was prepared for the Ministry of Municipal Affairs and Housing (MMAH).
The document provides information about the Beaufort Presentation to Financial Institutions given by Lowcountry Housing Trust. It summarizes that Lowcountry Housing Trust is a non-profit CDFI that lends funds to develop affordable housing. It has provided over $13 million in loans leading to over 750 affordable housing units. The presentation outlines the various funding sources and partnerships that allow Lowcountry Housing Trust to leverage funds to support affordable housing and community development projects.
This document summarizes a research paper that explores the impact of the Equator Principles on the disclosures of two signatory banks, HSBC and Westpac. The Equator Principles are a set of voluntary guidelines for private lenders to consider social and environmental risks in project financing. The summary finds that while both banks referred to their commitment to the Equator Principles, their public disclosures provided little substantive information about how the principles have impacted their actual banking practices. More research is needed to fully understand the effect of the principles over time, as banks have just begun reporting under recent revisions requiring more transparency.
Starting Point: Social finance for sustainable food, fishing and farmingSocial Finance
Social finance is an approach to managing money that delivers both social/environmental benefits and financial returns. It aims to leverage existing capital to attract new investment for public benefit. Some key features of social finance include providing environmental sustainability, poverty reduction, jobs for marginalized populations, and carbon reduction. We need social finance because traditional financial systems do not adequately address challenges faced by sectors like sustainable food and farming. Social finance can help by providing capital for facilities, operations, technical assistance, and enabling public policy.
With increasing demand on limited public resources, national and local governments are recognizing the need for a new approach to social services that emphasizes the identification of effective, innovative ideas. However, a lack of available funding and the reluctance to take on the risk that a promising, but unproven, idea might fail have created obstacles to this new approach. The social impact bond model is designed to eliminate these obstacles.
Social Finance: supply-side perspectives on the Canadian social capital marketKarim Harji
Key trends, issues, and opportunities for investors seeking a combination of economic, social, and environmental ("blended value") returns. Includes an introduction to the Canadian social capital market, supply-side challenges and opportunities, and how to align the demand and supply of social finance. Presented at the Social Economy Centre, University of Toronto.
The Social Investment Practice made $16.2 million in commitments in 2013, leveraging over $76 million in private sector investment. Since 2008, it has made 41 investments totaling $67.7 million in commitments. In 2013, investments supported efforts to help juvenile offenders, protect the environment, provide financial services to low-income households, and expand community health centers in Detroit and other areas.
The document discusses establishing a Hawaii Partnership Bank modeled after the successful Bank of North Dakota. It argues that such a bank would keep Hawaii's tax revenue and public deposits in the local economy, supporting community banks and small businesses. This could generate over $1.7 billion in new lending, create thousands of jobs, and return millions in annual profits to the state. By partnering with local banks, a Hawaii Partnership Bank would strengthen the local economy and make it less dependent on large offshore banks.
Presentation of NISE! Impact Delivery Model. The NISE! social and environmental impact delivery model has as its primary objective the mainstreaming of Social Impact Bonds so that they become attractive as an asset allocation in the diversified portfolio of a prudent investor and, therefore, become a readily available source of capital.
1) The document discusses the Peterborough Social Impact Bond, the first program to use private investment to fund social programs. It was launched in the UK in 2010 to reduce recidivism.
2) If the program succeeds in reducing recidivism by 7.5% or more, private investors will receive a return on their investment from savings to the government. This shifts performance risk to private investors.
3) The document explores whether this Social Impact Bond model can be applied in the US to expand funding for effective social programs and drive outcomes-focused funding.
Coalition for Green Capital and the Green Bank Movement CGC CGC
The Coalition for Green Capital is a nonprofit organization that advocates for the establishment of green banks at the state and federal level to increase financing for clean energy projects. The Coalition works with states to develop green bank models, designs financial products to stimulate clean energy markets, and brings states together to collaborate. Green banks lower financing costs for clean energy by accessing low-cost capital and reusing funds multiple times to attract greater private investment over time.
From recruiting more passionate staff members to acquiring a bigger board of directors and most importantly, generating greater impact of CFED's work, 2000 was a fundamental year of growth for CFED. Mobilizing a strategic three-year plan at the beginning of the year, CFED has channeled it's resources into acquiring individual assets, enterprise development, and sustainable economies that have resulted in a remarkable vision for economic opportunity in years to come.
This document provides an outline and summary of a strategic market research presentation for Nature's Haven Land Preserve. The presentation covers trends in land conservation fundraising, results from stakeholder interviews and surveys, financial analysis of Nature's Haven compared to peer organizations, and recommendations for improving fundraising efforts. Key findings include that Nature's Haven relies more on memberships and events than peers but brings in less money from these sources. Peers perform better by focusing on grants, gifts and donations rather than events. Nature's Haven also has opportunities to generate more income from programs, rentals, and qualify for more government grants.
Leveraging Opportunity Zones to Support Regional Economic Developmentnado-web
During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Scott Dadson shared information creating investable communities and how to take advantage of the Opportunity Zone Program.
State of Central Florida Arts Organizations 2012PresentMark
This document summarizes data from 81 arts organizations in Central Florida. It finds that while revenues for the arts universe were $59.5 million in 2012-2013, expenses were $55.9 million. Most arts organizations have small endowments, relying more on donations, grants, and earned revenue. The data also shows that arts organizations have relatively low overhead but need to improve board governance and management practices to increase long-term sustainability.
Financial sustainability of public benefits organizationsTimothy2015
This presentation seeks to help program leaders and managers prioritize financial sustainability and also provides ideas on how to achieve financial sustainability of Public Benefit organizations
Blended Financing for Impact: The Opportunity for Social Finance in Supportiv...Social Finance
This presentation provided an overview of social finance and its potential application to supportive housing in Canada. It defined social finance as investments that generate both social impact and financial returns. The presentation noted there is significant demand for new supportive housing that exceeds current government funding. It highlighted examples of social finance used for affordable housing projects and discussed challenges and opportunities for supportive housing providers to utilize social finance. Priority actions were suggested for various stakeholders to help acquire or develop more supportive housing units, such as establishing a national housing development corporation or capital fundraising campaign. The presentation concluded by providing information on additional resources available to learn more.
Big Society Capital is a wholesale social investment bank that was established with £600 million in capital from dormant bank accounts, and invests in social enterprises through social investment finance intermediaries to support social sector organizations and allow them to grow. The document provides an overview of Big Society Capital, describes the roles of intermediaries and examples of funds and commitments to address social issues.
The document provides information about the Low Income Housing Tax Credit (LIHTC) program, including:
- It was established 28 years ago and has financed over 2.6 million affordable housing units, creating 95,000 jobs annually and raising $100 billion in equity capital.
- Each state receives tax credits based on its population that it awards competitively to affordable housing developments. Developers sell the credits to investors to raise equity capital.
- The program has been very successful, with a low foreclosure rate of 0.65%, and it creates safe, decent affordable housing while also stimulating local economies and job growth.
- However, the need for affordable housing still outpaces production, with a shortage of over 5
N.C. Community Development Initiative Biennial Reportnc_initiative
The North Carolina Community Development Initiative is a statewide public-private partnership established in 1994 to provide leadership, capital investment, and support to community development corporations (CDCs) and other community-based economic development projects. The Initiative's mission is to improve well-being and quality of life in low-resource communities. It outlines nine core values including stewardship, transparency, flexibility, accountability, strategic partnerships, strategic thinking, ethical philanthropy, leadership, respect and courage. Over 15 years it has grown from a small startup to a national model, supporting CDCs through investments, grants and programs while maintaining fiscal accountability.
An overview of the regulatory and competitive landscape of social enterprise in Europe, with a lot of across-country diversity. Attention is paid to incorporation choice, finance, networks, and linkages with local economic development.
Social Finance Applications: Case Studies for Affordable HousingAdam Spence
An overview of three case studies outlining social finance vehicles for the acquisition, construction, and retrofit of affordable housing in US and Canada. This presentation was prepared for the Ministry of Municipal Affairs and Housing (MMAH).
The document provides information about the Beaufort Presentation to Financial Institutions given by Lowcountry Housing Trust. It summarizes that Lowcountry Housing Trust is a non-profit CDFI that lends funds to develop affordable housing. It has provided over $13 million in loans leading to over 750 affordable housing units. The presentation outlines the various funding sources and partnerships that allow Lowcountry Housing Trust to leverage funds to support affordable housing and community development projects.
This document summarizes a research paper that explores the impact of the Equator Principles on the disclosures of two signatory banks, HSBC and Westpac. The Equator Principles are a set of voluntary guidelines for private lenders to consider social and environmental risks in project financing. The summary finds that while both banks referred to their commitment to the Equator Principles, their public disclosures provided little substantive information about how the principles have impacted their actual banking practices. More research is needed to fully understand the effect of the principles over time, as banks have just begun reporting under recent revisions requiring more transparency.
Starting Point: Social finance for sustainable food, fishing and farmingSocial Finance
Social finance is an approach to managing money that delivers both social/environmental benefits and financial returns. It aims to leverage existing capital to attract new investment for public benefit. Some key features of social finance include providing environmental sustainability, poverty reduction, jobs for marginalized populations, and carbon reduction. We need social finance because traditional financial systems do not adequately address challenges faced by sectors like sustainable food and farming. Social finance can help by providing capital for facilities, operations, technical assistance, and enabling public policy.
With increasing demand on limited public resources, national and local governments are recognizing the need for a new approach to social services that emphasizes the identification of effective, innovative ideas. However, a lack of available funding and the reluctance to take on the risk that a promising, but unproven, idea might fail have created obstacles to this new approach. The social impact bond model is designed to eliminate these obstacles.
Social Finance: supply-side perspectives on the Canadian social capital marketKarim Harji
Key trends, issues, and opportunities for investors seeking a combination of economic, social, and environmental ("blended value") returns. Includes an introduction to the Canadian social capital market, supply-side challenges and opportunities, and how to align the demand and supply of social finance. Presented at the Social Economy Centre, University of Toronto.
The Social Investment Practice made $16.2 million in commitments in 2013, leveraging over $76 million in private sector investment. Since 2008, it has made 41 investments totaling $67.7 million in commitments. In 2013, investments supported efforts to help juvenile offenders, protect the environment, provide financial services to low-income households, and expand community health centers in Detroit and other areas.
The document discusses establishing a Hawaii Partnership Bank modeled after the successful Bank of North Dakota. It argues that such a bank would keep Hawaii's tax revenue and public deposits in the local economy, supporting community banks and small businesses. This could generate over $1.7 billion in new lending, create thousands of jobs, and return millions in annual profits to the state. By partnering with local banks, a Hawaii Partnership Bank would strengthen the local economy and make it less dependent on large offshore banks.
Presentation of NISE! Impact Delivery Model. The NISE! social and environmental impact delivery model has as its primary objective the mainstreaming of Social Impact Bonds so that they become attractive as an asset allocation in the diversified portfolio of a prudent investor and, therefore, become a readily available source of capital.
1) The document discusses the Peterborough Social Impact Bond, the first program to use private investment to fund social programs. It was launched in the UK in 2010 to reduce recidivism.
2) If the program succeeds in reducing recidivism by 7.5% or more, private investors will receive a return on their investment from savings to the government. This shifts performance risk to private investors.
3) The document explores whether this Social Impact Bond model can be applied in the US to expand funding for effective social programs and drive outcomes-focused funding.
Coalition for Green Capital and the Green Bank Movement CGC CGC
The Coalition for Green Capital is a nonprofit organization that advocates for the establishment of green banks at the state and federal level to increase financing for clean energy projects. The Coalition works with states to develop green bank models, designs financial products to stimulate clean energy markets, and brings states together to collaborate. Green banks lower financing costs for clean energy by accessing low-cost capital and reusing funds multiple times to attract greater private investment over time.
From recruiting more passionate staff members to acquiring a bigger board of directors and most importantly, generating greater impact of CFED's work, 2000 was a fundamental year of growth for CFED. Mobilizing a strategic three-year plan at the beginning of the year, CFED has channeled it's resources into acquiring individual assets, enterprise development, and sustainable economies that have resulted in a remarkable vision for economic opportunity in years to come.
This document provides an outline and summary of a strategic market research presentation for Nature's Haven Land Preserve. The presentation covers trends in land conservation fundraising, results from stakeholder interviews and surveys, financial analysis of Nature's Haven compared to peer organizations, and recommendations for improving fundraising efforts. Key findings include that Nature's Haven relies more on memberships and events than peers but brings in less money from these sources. Peers perform better by focusing on grants, gifts and donations rather than events. Nature's Haven also has opportunities to generate more income from programs, rentals, and qualify for more government grants.
Leveraging Opportunity Zones to Support Regional Economic Developmentnado-web
During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Scott Dadson shared information creating investable communities and how to take advantage of the Opportunity Zone Program.
State of Central Florida Arts Organizations 2012PresentMark
This document summarizes data from 81 arts organizations in Central Florida. It finds that while revenues for the arts universe were $59.5 million in 2012-2013, expenses were $55.9 million. Most arts organizations have small endowments, relying more on donations, grants, and earned revenue. The data also shows that arts organizations have relatively low overhead but need to improve board governance and management practices to increase long-term sustainability.
Financial sustainability of public benefits organizationsTimothy2015
This presentation seeks to help program leaders and managers prioritize financial sustainability and also provides ideas on how to achieve financial sustainability of Public Benefit organizations
Blended Financing for Impact: The Opportunity for Social Finance in Supportiv...Social Finance
This presentation provided an overview of social finance and its potential application to supportive housing in Canada. It defined social finance as investments that generate both social impact and financial returns. The presentation noted there is significant demand for new supportive housing that exceeds current government funding. It highlighted examples of social finance used for affordable housing projects and discussed challenges and opportunities for supportive housing providers to utilize social finance. Priority actions were suggested for various stakeholders to help acquire or develop more supportive housing units, such as establishing a national housing development corporation or capital fundraising campaign. The presentation concluded by providing information on additional resources available to learn more.
Big Society Capital is a wholesale social investment bank that was established with £600 million in capital from dormant bank accounts, and invests in social enterprises through social investment finance intermediaries to support social sector organizations and allow them to grow. The document provides an overview of Big Society Capital, describes the roles of intermediaries and examples of funds and commitments to address social issues.
Funding Your Social Enterprise: Approaches & Resources for NonprofitsMargaret Stangl
The document discusses various approaches and funding resources for social enterprises and nonprofits, including loans from community development financial institutions, program-related investments from foundations, and mission-related investments that align with a foundation's goals. It provides examples of specific social enterprises, their models and financing approaches. The webinar addresses common questions around accessing capital through grants, debt, and equity.
Accelerating Impact Impact Investing & Innovative Financing for DevelopmentKarim Harji
The concept of innovative financing is a relatively recent addition to the development lexicon. Edward Jackson, a faculty member at the School of Public Policy and Administration at Carleton University, and Karim Harji, a co-founder and partner at Purpose Capital, will introduce the audience to innovative financing and impact investing through their report, Accelerating Impact: Achievements, Challenges and What’s Next in Building the Impact Investing Industry. The AKFC Seminars on Innovative Financing for Development, hosted by Aga Khan Foundation Canada in partnership with Carleton University’s School of Public Policy and Administration.
Social Finance and Impact Investing in CanadaKarim Harji
Presentation at OISE - November 21, 2012
• An overview of the state of social finance and impact investing across Canada
• An analysis of why Canada is well positioned to become a leader globally
• A participatory discussion on the key issues such as:
-- The perceived trade-offs between social impact vs. financial return;
--- How philanthropy can complement social finance;
--- Measurement of social value creation;
--- Legislation and public policy; and
--- Bridging silos between sectors and organizations.
Impact investing aims to generate financial returns while also creating positive social and environmental impacts. The global impact investing market is estimated at $50 billion currently but projected to grow significantly in coming years. In Canada, the market is estimated at $2 billion currently across community investment funds, foundations, and impact investment deals. There is potential for further growth as social ventures in Ontario have an estimated $170 million in capital needs, while institutional investors show interest in impact investment products. However, gaps remain around intermediation between investors and ventures, impact measurement standards, and support for funds and ventures.
This document discusses social investment, which provides both financial return and social return. It outlines external developments growing social investment, including increased borrowing by the voluntary sector. It describes Big Society Capital's vision to improve access to finance for charities and build participation in social investment. BSC plays a role as a wholesaler and market champion. The document then provides guidance for organizations on engaging with social investors, including things to consider around investment needs, impact, and opportunities social investment provides beyond financing. It also briefly outlines social impact bonds and gives an example.
Acumen Fund is a nonprofit social investment fund that provides patient capital to companies focused on sustainably serving the poor. Over the past decade, Acumen has invested $79 million in 69 companies across multiple industries like housing, health, energy, agriculture and education, reaching over 90 million individuals and creating 57,000 jobs. Acumen seeks potential "game changing" investments that have the ability to significantly impact poverty at a large scale and become financially self-sustaining. The organization operates through local offices in multiple emerging markets and plans to expand its global footprint and portfolio size to $150 million impacting 150 million lives by 2015.
Social finance is sustainable investing that aims to generate both social/environmental benefits and financial returns. The document discusses how social finance is gaining momentum in Canada but still lags behind other countries. It outlines various social finance mechanisms like social venture capital funds and investments in areas like affordable housing and community energy. The document proposes a national collaboration called CAUSEWAY to improve awareness of social finance opportunities in Canada and catalyze new financial pathways and products to build the field.
The document discusses social finance and outlines examples of collaborative approaches to channeling capital towards public benefit uses. It provides an overview of social finance, how capital flows from sources to organizations for programs and assets, and fields of innovation in social finance. It then summarizes provocative examples of social finance funds and mechanisms in Canada that align interests to create innovative solutions for affordable housing, community development, healthcare access, and addressing homelessness.
This document summarizes a presentation on social finance in the UK. It introduces the presenter and provides context on the growth of social finance as a new mechanism to fund social sector organizations. It then covers reasons for the rise of social finance, including replacing public grants. The document outlines the target market and spectrum of social finance products on the supply side. It also analyzes challenges on the demand side for social sector organizations in accessing social finance. In conclusion, it discusses balancing social missions with business practices and the need for a blended approach of finance and support.
2009 Canada to UK Study Tour: Slide Deck PresentationJoanna Reynolds
In March 2009, a group of Canadian leaders went to the UK to learn about common practices in Social Enterprise and Social Innovation. This Slide Deck is part of the report back.
This document provides an overview of social finance, including definitions, examples of social finance instruments, and challenges. Social finance aims to use capital markets to generate both financial returns and positive social/environmental impacts. It includes debt, equity, and grants/donations used by non-profits, impact investors, foundations, and others. However, social finance faces challenges in areas like market development, confusing return expectations, and restrictive regulations/legislation. The document argues that continued development of this space will require strengthening both supply and demand, as well as modernizing rules and building capacity of organizations involved.
The document discusses strategies for raising capital and securing financing. It outlines an agenda for a panel discussion on the topic, including presentations on debt financing from Wellington Financial and government programs from Ontario Capital Growth Corporation. It also discusses equity financing from Management Initiatives. The panelists will be Mark Usher, John Marshall, and Andrew Wilkes.
Presented by David Floyd, Managing Director, Social Spider, at NCVO's 2015 Evolve Conference.
One of two presentations covering the alternative finance landscape.
This document outlines the concept of social finance and the potential for a national collaboration in Canada called CAUSEWAY. Social finance aims to generate both financial returns and social/environmental benefits. It exists on a continuum between traditional investments and grants. CAUSEWAY would work to develop new financial pathways in Canada for investing in public benefit through activities like convening stakeholders, supporting product and policy development, and building knowledge in the field.
The document discusses the rise of social finance in the UK as a new mechanism to fund social sector organizations. It provides an overview of the growing supply of social finance products including grants, loans, equity/quasi-equity, and social impact bonds. It also examines demand-side issues, noting many grassroots organizations lack experience with and readiness for finance. While social finance has expanded, it may not replace reduced public grants, and support for developing organizational capacity remains important.
Exploring Social Finance & Social EnterpriseAdam Spence
The document provides background on social enterprise and social finance. It explores the motivation for these activities, including addressing complex social problems with constrained government finances. Various models are examined, such as housing funds, community loan funds, and social impact bonds. Case studies of the New York City Acquisition Fund and social enterprises like Friends Catering Company and St. John's Bakery are also summarized.
Social finance aims to deliver both social/environmental benefits and economic returns through investing in social enterprises and nonprofit organizations. It provides capital to areas like affordable housing, social enterprises, health and home care, and more. Canada's nonprofit sector represents $120 billion annually and is growing. There is potential to scale up social finance in Canada by learning from other countries, developing new financial instruments, and strengthening partnerships between sectors.
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Social Finance for Affordable Housing
1. Social Finance for Affordable Housing
An opportunity to mobilize private capital for public good
Prepared by Adam Spence
December 2012
2. Summary
What is the objective of this presentation?
What is social finance?
Why is social finance important for affordable
housing?
What are examples of social finance in affordable
housing?
What are the challenges and opportunities for
social finance in affordable housing?
Pg 2
4. About
What is social finance?
Social finance (or impact Profit
investing) is an investment
approach to solve social or
environmental challenges
while generating financial
returns. This includes
investments that range from
producing a return of
principal capital to offering
market-rate or even market-
beating financial returns. Planet People
Pg 4
5. Planet Bean Coffee in Canoe-Creek Hydro in
Guelph BC
• $250k loan & share • $5M loan for the
issue for expansion First Nations plant
• Revenues grew • generate annual
from $500k to revenue of $1.6M
$2.6M Regent Park in • power for 1,700
• increased global & Toronto homes
local impact; • $1B revitalization
doubled co-op • $450M worth of
membership market-rate bonds
at 5% per year over
40 years
• over 6,000 mixed-
income housing
units & community
facilities
Pg 5
6. Two Key Features
Energy efficiency
Prime + 2%
Poverty reduction
Social housing units
Impact + Return
8%
Carbon reduction
Jobs for marginalized
1% p.a. over three years
populations
7. About
What are the characteristics of the social finance marketplace?
Global marketplace is estimated at $100
billion, projected to grow to $400 billion over
next 10 years
Canadian marketplace estimated at ~$2
billion in assets, projected to grow to $30
billion over next 10 years
History: Canada has a long history of social
finance activity
Key sectors: Clean technology, sustainable
agriculture, and affordable housing
Strong interest amongst governments and
institutional investors, with pioneering
efforts from leading foundations and
individual investors
8. About
What is the spectrum and source of social finance investments?
Project or program Loans, loan guarantees, real estate Private
grant mortgages, patient debt and equity, public
funding, general equity, community bonds, housing equity, fixed income
donations bonds, social impact bonds, etc.
Below Market Rate Market Rate Impact SUPPLIERS OF CAPITAL
Conventional Mainstream Banks
Grants Impact Investments Investments
Investments Community Development
Finance and Credit Unions
Foundations (Mission-related
investing)
Government
Community Loan Funds
Alternative Financial
Institutions and Funds
Private Equity Funds Social
Enterprise Funds
Individual Investors
(Angels, VCs, wealthy
individuals)
Negative Expected Financial Return Market Rate Expected Financial Return
9. About
What are potential products and financing sources for housing providers?
Products
Mortgages and second mortgages
Loans and loan guarantees
Bonds and debentures (including community bonds))
Fund
Equity
Financing Sources
Mainstream Financial Institutions (eg. RBC)
Alternative Financial Institutions (eg. Alterna)
Alternative Lenders including funds, and foundations (eg.
CAIC, IO)
Private Offerings (eg. Community bond, promissory note)
Internal Equity
Pg 9
10. So what?
Why is social finance
important for
affordable housing?
Pg 10
11. Alignment
Why is social finance important for supportive housing providers?
Housing demand: There is significant demand for new supportive housing
stock in Canada, with 520,700 Canadians living with mental illness that are
inadequately housed. 154,000 Ontarians are on the waiting list for housing.
Financing needs: There have been a number of identified financing needs
amongst individual housing providers, including mortgage financing, project
bridge financing, and matched financing. There is tremendous need for
stock maintenance and improvement and opportunities for energy
efficiency retrofits.
Government revenues: Capital funding support is restricted, and operating
funding growth is constrained.
Early adopters: Growing number of affordable housing providers turning to
alternative financing to tackle these problems and turning to
investors/lenders for funding.
Financing leverage and revenue streams: You have potential revenue
streams and assets for leverage to obtain financing.
Pg 11
12. Alignment
What are key advantages for supportive housing providers in the social finance
marketplace?
Advantages
Signature impact investments have been
affordable housing investments. TCHC Housing
Bond, YWCA Community Housing Bond.
There is demonstrated interest in affordable
housing by investors. 75% of impact investors
would be interested in affordable housing bonds
Social housing is a proven impact investment
with a track record. Asset performance over
last 30 years in Ontario.
Supportive housing has the potential for scale
that matches investor interest and capacity.
Investment sizes in millions and tens of millions
of dollars in real estate.
Pg 12
13. What are examples of social
finance for affordable
housing in Ontario?
Pg 13
14. YWCA Elm Centre is an innovative
residential community located in the
heart of downtown Toronto. The
YWCA Elm Centre (an $80M project)
offers 300 affordable apartments for
low-income women and their
families, women living with mental
health and addiction issues and
families of Aboriginal ancestry.
Innovative Financing
• Community Housing Bond
• Infrastructure Ontario Loan
• Municipal Loan
• Government credits/rebates
• Cash flow driven by rent
supplements
Pg 14
15. Centretown Citizens Ottawa
Corporation (CCOC) is the owner
and developer of Beaver Barracks: a
254-unit affordable housing project
located on Metcalfe, Argyle and
Catherine Streets in downtown
Ottawa. The $65 million
development of Beaver Barracks
took place in two
phases, comprising five buildings.
The project mixes bachelor, 1-
bed, 2-bed and 3-bed apartments
and townhouses.
Innovative Financing
• Equity (Internal financing)
• Infrastructure Ontario Loan
• Government credits/rebates
• Alternative Lender (Religious Pg 15
Order)
16. 25 Leonard Avenue is a four-story
building close to Toronto Western
Hospital that was original built as
doctor’s offices. St. Clare’s
Multifaith Housing converted the
doctor’s offices into small
apartment units (Phase 1).
Subsequently St. Clare’s added
two floors with 26 prefabricated
apartments (Phase 2). In
total, there are 77 units in the
complex, with a development cost
of $8.1 million.
Innovative Financing
• Alternative Lender (CAIC)
• Leveraged equity by extending
amortization of first mortgage
Pg 16
17. What are the challenges
and opportunities for social
finance in affordable
housing?
Pg 17
18. Challenges
What are key challenges for supportive housing providers in use of social finance
amongst supportive housing providers?
Stable revenues: Challenges financing
current stock, some funding sources are
winding down, and the ability to generate
income from new and current sources is
limited.
Financial capacity: Capacity to service debt
and strength of balance sheets.
Organizational capacity: Financial literacy
and technical expertise.
Policy barriers: Federal and provincial
policy barriers can increase costs, increase
the time for development, and reduce the
capacity of providers to build new units.
Capital supply: Familiarity with and Photo Credit: Kevin Van Paassen , The Globe and Maill
aversion to nonprofit housing providers.
Pg 18
19. Opportunities
What are opportunities to advance social finance in supportive housing?
Models: There are a number of models that
can be adopted or adapted to local contexts.
Constituency: There is a strong, motivated
constituency of supportive housing providers,
mental health advocates, government
representatives and financial leaders
supporting a common aim.
Strategic Solutions: There are a number of
strategic, pragmatic solutions that could have
a significant impact on the ability to grow the
stock of supportive housing in Ontario.
Capacity-building: There are great tools and
resources that can be shared through strong,
ready-built networks to share
recommendations, models and lessons
learned.
Pg 19
20. Thank You http://impactinvesting.marsdd.com
aspence@marsdd.com