In 2016 CDFA, The Initiative for Responsible Investment, and The Kresge Foundation are jointly exploring how impact investments in development finance agencies can spur economic development.
April 13, 2016
2:00pm Eastern
Overview
The Kresge Foundation is launching Kresge Community Finance, a $30 million program-related investment (PRI) finance offering available to two key organizational types working to expand opportunities for low-income people in America’s cities. The foundation will select applications through a competitive Request-for-Proposals (RFP) process. The RFP is open exclusively to certified Community Development Finance Institutions (CDFI) and quasi-public or private Development Finance Agencies (DFA). Funded projects will support work that aligns with Kresge’s six programs – Arts & Culture, Detroit, Education, Environment, Health and Human Services – and their strategic focus areas. To advance the Foundation’s vision, CDFA, in coordination with the Initiative for Responsible Investment, will hold an informational webinar to outline in greater detail the type of projects The Kresge Foundation wishes to fund.