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A Philanthropy California Investment Collaborative

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Minnesota philanthropy innovates again: why not invest at home and encourage other foundations and investors to do the same? The foundations who joined together to create the Minnesota Impact Investing Initiative are inspiring others to invest in a competitive financial return and positive social impact across 18 counties.

Aligning investments
both with mission focus
and within the local communities

 

- RBC Impact Team


We have observed an increase in interest from investors looking to collaborate to lift up their local communities through impact investing, driving dollars into place-based investing initiatives.
 

- RBC Impact Team


Annual Responsible Investment Survey

RBC Global Asset Management's global survey of institutional investors’ attitudes and perceptions on
topics related to Responsible Investment.
 
2020 Executive Summary: Global adoption –
regional divide


Read our previous reports  2019  |  2018  |  2017  |  2016

Providing a coordinated approach for investors to direct market-rate investments to impact California with a focus on underserved communities and families.

Our Mission

The Philanthropy California Collaborative provides mission-driven investors a coordinated approach to support high impact projects through market-rate investments that are geographically targeted to communities in California and focus on underserved communities and families. These projects support affordable housing, job creation and small business growth, increased access to healthcare and education, and related community development measures for populations too often left behind. Investments also support environmental sustainability, which is critical to the creation of thriving and resilient communities over the long-term.


Investment Approach

Through its partnership with RBC Global Asset Management (RBC GAM), Philanthropy California participants can invest in high quality, liquid fixed income strategies intended to create positive social and environmental impacts in California while also earning a competitive financial return.

Direct Impact

RBC GAM believes that we can help build stronger communities through fixed income investments that offer safety, liquidity and competitive returns. We tailor portfolios of high quality securities to investors' needs while aiming to achieve a market rate of return and increase the flow of capital to target communities.

Disciplined Investing With A Community Development Purpose

  • Through impact investing, investors can pursue competitive investment returns while achieving measurable social impacts.
     
  • One approach is to add an impact dimension to the kinds of U.S. fixed income securities that investors already own. These customized securities can achieve lower expected volatility, more stable cash flow characteristics and the return required for a compelling double bottom line outcome and investment dollars can be targeted to a particular geography.
     
  • Socially responsible investment that helps build stronger communities through its support of low- and moderate-income home buyers, affordable rental housing units, small business administration loans and economic development projects.
     
  • Meets Community Reinvestment Act (CRA) requirements.
     
  • Investors can geographically target their investments by state, city or county. (subject to min investment)

The Impact Made in California 

Our stories

Customized Reporting

All members of Philanthropy California, regardless of
size, will receive in a combined customized  report that
will reflect the full impact  of dollars invested in California.

Sample Reporting

Impact Annual Report

RBC Global Asset Management's overview of our Impact Bond capabilities, featuring our proprietary impact measurement and investment examples.

2019 Impact Investing Annual Report

Read our previous report 2018

Additional RBC Impact Persectives

Invest with an Impact

Access Capital Community
Investment Strategy


Other Investment Options 

- Impact Bond Strategy

- Customized Mandate

Addressing the Needs of California

  Homeownership

Owning a home has long been a pillar of the American dream. But would-be homeowners in low-and moderate-income communities are overlooked by the banking industry, even with good credit. RBC GAM's impact investing strategies help low- and moderate- income home buyers access mortgages at prime rates and open the door to their own home.

Affordable mortgages for low-to-moderate income families provide stability, and are a major vehicle for building wealth and
economic opportunity

  Rental Housing

Across America, rental housing stock is severely limited and often overpriced. 80% of low-income households pay more than 1/3 of their income for rent, leaving less for food, healthcare and education. RBC GAM's impact investing strategies finance affordable rental units, buying first mortgages of multifamily rental units, helping to support renters with income limits, who are further supported by federal, state and housing authority assistance programs.

  Small Business

Would-be small business owners often lack the capital to open businesses that serve the community, like laundry facilities, supermarkets and clinics. RBC GAM's impact investing strategies buy the guaranteed portions of SBA loans to deliver more services to the residents of low- and moderate-income communities and provide more job opportunities within the local economy.

  Healthcare

Lack of access to comprehensive, quality healthcare services impacts the ability of men, women and children to lead healthy and productive lives. RBC GAM's impact investing strategies invest in a range of healthcare facilities in underserved communities --including nursing homes, community clinics, skilled nursing care and family dentistry --resulting in healthier, more stable and more productive communities.

Read additional details surrounding
Investing for Impact: A California Collaborative

CA investors support:

2,782 affordable rental housing units
830 mortgages for LMI homebuyers
57 small businesses
17 municipal projects
3 CDFIs
2 healthcare facilities
1 educational institution

Source:  RBC GAM

Source:  RBC GAM, Tableau
Size of investment location on map is reflective of size of estimated current loan amount.

Impact Summary
 

Geographic Summary

  Education 

Access to quality education is a key driver of upward socioeconomic mobility, and helps to reduce inequalities. RBC GAM's impact investing strategies support equal access to educational opportunities, including preschools and primary schools, secondary and post-secondary education, as well as access to job skills and training programs. 

  ​​​​​​
Environmental                          Sustainability 


Climate change is a global challenge that will have impacts on economies, markets, and societies worldwide. RBC GAM's impact investing strategies support projects that promote the health of the environment, including renewable energy, clean air and water, land preservation, efficient resource use, and environmental remediation.

LAGUNA HILLS HEALTH & REHABILITATION CENTER – Laguna Hills, CA

BUTCHER SHOP – Berkeley, CA

URGENT CARE CLINIC – Los Angeles, CA

Grantmakers in California Launch Impact Investing Collaboration

We are pleased to collaborate with so many mission-driven organizations on a program that supports impact-related investments that will focus on supporting underserved communities and families across the state of California. Impact investing can help California thrive and prosper.
 

- Catherine Banat
Director of U.S. Responsible Investing
RBC Global Asset Management

 


How to Talk to Your Financial Advisor About Impact Investing

Tuesday, November 10, 2020
1:00 – 2:00p PT

Your organization has decided you want to move forward and begin to make impact investments, but your financial advisor is not yet familiar with impact investing. Join us for a fireside chat with Ron Cordes, Co-Founder, Cordes Foundation, to learn how to manage that conversation to grow the relationship and maximize the impact.
 

Measuring the Impact

Tuesday, December 15, 2020
1:00 – 2:00p PT

When mission-driven organizations are measuring today’s investment portfolios, why should they settle for metrics that they wouldn’t accept from their grantees? Learn from experts on evaluation frameworks and how you negotiate the risk adjusted rate of return and impact invested rate of return. This will not include ESG Investing.