In our first episode, we explore how foundations can expand their mission by becoming impact lenders. March Gallagher, President & CEO of Community Foundations of the Hudson Valley, tells us how she implemented a lending program in partnership with local CDFIs to amplify her institution’s impact.
March Gallagher is responsible for the overall leadership of the Community Foundations of the Hudson Valley including donor services, grant-making, and care and custody of the Foundation’s assets. She came to the Community Foundations having served as Chief Strategy Officer at Hudson Valley Pattern for Progress, focusing on regional quality of life issues. March is a current board member with the Hudson Valley Agribusiness Development Corporation and Touro College of Osteopathic Medicine – Middletown. March also currently serves on the Dutchess County Economic Development Advisory Council, chairing its committee on local government and the Dutchess County Community Development Advisory Board. March is an attorney with degrees from Boston University, Bard College, Rockefeller College and Rensselaer Polytechnic Institute.
Resources Related to This Episode:
Community Foundations of the Hudson Valley: www.communityfoundationshv.org
Business Alliance for Local Living Economies: www.bealocalist.org
Oishei Foundation: www.oishei.org
Heron Foundation’s U.S. Community Investing Index: www.heron.org/uscii
And for the record, as of March 31, 2018, Amazon is the Pax Balanced Fund’s second largest holding (we still love Pax, though).
Acronyms Used in This Episode:
CDFIs – Community Development Financial Institutions. Private institutions that focus their lending and investing activities on markets that are underserved by the traditional finance industry, including communities of color, economically disadvantaged communities, and others.
ESG – Environmental, Social, Governance. An approach to investing that evaluates a company’s behavior with regard to these factors and considers their impact on the profitability of the company and the morality of investing in the company.
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