How’s That Unique Impact Investing Effort Playing Out in Chicago?
Who said impact investing is just for major wealth holders?
Last year, we highlighted an innovative initiative that aims to let pretty much anyone with a little extra money get involved in financing efforts to tackle societal problems. It’s a $100 million collaboration called Benefit Chicago that involves the MacArthur Foundation, Chicago Community Trust, and the Calvert Foundation. And basically, it brings the complicated realm of impact investing down to a much more public and accessible level.
As we described at the time, investors at all levels—individuals and institutions—can purchase Community Investment Notes issued by the Calvert Foundation that are targeted at improving Chicago communities. As Benefit Chicago explains, these “are fixed-income securities with principal maturities ranging from one to 15 years and interest payable annually. They are available through a brokerage account with a minimum investment of $1,000 or online starting at $20.”