ACCESS TO CAPITAL

Sustained access to capital is critical for individuals, families, and communities to build assets, create wealth, and achieve prosperity.

The Foundation will consider supporting efforts to broaden the adaptation of private market financing mechanisms, or to promote community reinvestment to accelerate wealth creation for low-income families.

In addition, the Foundation funds opportunities to help low-income people to build savings, and efforts to combat practices or conditions that deplete assets (e.g., threaten home ownership) of low-income families.

The Reinvestment Fund, Inc. TRF has financed 11 solar town homes for low- or moderate-income families in southwest Philadelphia. These homes are among the most energy efficient affordable housing available on the market. Heron supports TRF with general support grants and a program-related investment.

Through its access to capital strategy, the Foundation will also consider support for community development financial institutions (CDFIs) that serve low-income communities. CDFIs seeking the Foundation’s support must have as their core work financing home ownership, business enterprise or commercial real estate development that creates jobs, or quality and affordable child care.

The Foundation also funds practitioner associations that promulgate best practices, especially those helping CDFIs to track the social impact of their investments.