At the Community Foundation, we continually seek new opportunities to strengthen our community. Over the past several years, we’ve encountered increasing opportunities to invest directly in local projects that promise significant community benefits. This trend inspired us to explore how we can use our resources to create a lasting impact right here in Allen County.
The Evolution of Our Impact Investing Program
Our journey began in 2011, following a request from the FW Downtown Development Trust. Our board approved up to $1 million in Market Rate Loans, allowing us to test the waters. In 2016, we supported The Landing, a pivotal redevelopment project in downtown Fort Wayne. In 2020, as the COVID-19 pandemic threatened the survival of many local businesses, we responded by establishing the Recoverable Grant Program, providing critical financial support to many locally-owned restaurants in Allen County. These experiences demonstrated the power of investing in our community’s future, leading us to explore more sustainable and strategic ways to fund projects that align with our mission.
Recognizing the potential for even greater impact, we formed an Impact Investment study group to explore alternative funding methods for projects that serve the greater community. After careful consideration and planning, our board of directors made the strategic decision to formally establish the Greater Fort Wayne Local Impact Investing Fund. This decision marked a historic moment for the Foundation as we committed to dedicating a portion of our funds to local, high-impact projects—redirecting resources from Wall Street portfolios to Main Street investments.
The Mission-Aligned Goals of Local Impact Investing
The Community Foundation’s Local Impact Investment program is a mission-aligned initiative designed to invest in opportunities that:
· Relate to one of the Community Foundation’s five pillars
· Address challenges and opportunities impacting the quality of life for residents in Allen County
· Leverage a portion of investable assets for mission and impact in ways not possible with grantmaking alone
· Diversify our portfolio by investing in local, community-based projects
· Enable the Community Foundation to collaborate with diverse partners to create impact and grow a more inclusive capital ecosystem
· Advance the Community Foundation’s commitment to increased community leadership
· Engage donors motivated by leveraging their philanthropy through capital investments
A New Era of Local Impact Investing
To support this initiative, we created a standing board committee, the Local Impact Investing Committee. Guided by a newly approved Local Impact Investing Policy, this committee is responsible for
making informed investment decisions that prioritize the well-being and growth of our community. We are grateful to the committee members who have dedicated their time to laying the groundwork for this exciting new chapter in our Foundation’s history.
Spotlight on Humane Fort Wayne: A Project with Heart
One of the standout projects supported by our new Impact Investing Program is the construction of the Sharon Bodenhafer Critter Center, Humane Fort Wayne’s new facility. Humane Fort Wayne has long outgrown its existing spaces on Hanna Street and Maycrest Drive, limiting the full scope of its programs and services. The new Critter Center will not only provide a welcoming space where people and animals can interact, but it will also expand opportunities for animal welfare and humane education. With this investment, Humane Fort Wayne is poised to become a leader in compassionate animal care, setting new standards for best practices in the field.
Looking Ahead
Impact investing is still a relatively new concept for many community foundations, but we are excited to be at the forefront of this movement. We are committed to sharing our experiences and lessons learned with other communities, helping to spread the benefits of this innovative approach to philanthropy.
Our new Impact Investing Program is just the beginning. As we continue to identify and support projects that drive meaningful change, we look forward to the positive impact these investments will have on the future of Allen County. For more information or to donate to this fund, contact Heidi Ludwig.