The grant funding will support the Equitable Development Initiative program for real estate developers, as well as business advising and technical assistance for small business owners
JULY 15, 2024 (Arlington, VA/San Diego, CA) – Capital Impact Partners and CDC Small Business Finance — two mission-driven nonprofits that are part of the Momentus Capital branded family of organizations — have been awarded a combined total of $950,000 in multi-year grants from the U.S. Bank Foundation.
“We are grateful for our ongoing collaboration with U.S. Bank and its continued support of our mission to provide people and communities with the opportunities they deserve,” said Natalie Gunn, chief finance officer for the Momentus Capital branded family of organizations. “This grant funding will significantly help our ability to offer programs that help developers and other small business owners to grow their businesses, build generational wealth, create jobs and bolster the communities they serve.”
“We’re proud to work with organizations like Capital Impact Partners and CDC Small Business Finance that are creating access and opportunities for more people, helping drive economic growth and building thriving communities,” said Erica Opstad, head of community affairs and managing director of the U.S. Bank Foundation.
The Equitable Development Initiative helps developers who are focused on bringing affordable housing and other real estate projects to disinvested communities.
June 17, 2024 (Atlanta, GA) – A new program will help Atlanta’s emerging real estate developers overcome the systemic obstacles that have prevented them from being more involved in the region’s booming real estate market — and, in turn, to bring more affordable housing and other real estate projects to disinvested communities.
The Equitable Development Initiative is a free nine-month program led by Capital Impact Partners. Since 2018, the program has trained more than 250 real estate developers in five metropolitan areas throughout the United States. The Atlanta region will become the sixth.
The Equitable Development Initiative provides emerging developers with the tools they need to grow their businesses — including training, technical assistance, mentorship, networking, and potential pathways for financing.
“The Equitable Development Initiative is designed to help developers who are working to develop disinvested communities for the betterment of their residents. Many of these developers have been held back by not having access to the financial capital, social capital, and knowledge capital that other developers have,” said Ellis Carr, president and CEO of Capital Impact Partners and CDC Small Business Finance, two nonprofit mission-driven lenders that are part of the Momentus Capital branded family of organizations.
The award recognizes Capital Impact Partners for its financial support of Whitman-Walker’s new Max Robinson Center medical and research facility in Southeast Washington, D.C.
The award is featured in Novogradac Journal of Tax Credits’ annual Community Development QLICIs of the Year Awards, which celebrate community development entities that made exceptional qualified low-income community investments, or QLICIs.
In 2023, Whitman-Walker opened a new, larger site for its Max Robinson Center in the southeast D.C. neighborhood of Congress Heights, helping ensure quality health care for community members in a long-disinvested region of the city. The 118,000-square-foot medical facility provides a variety of primary care, dental care, and behavioral health services, as well as important health care and policy research.
Capital Impact Partners provided the project with $4 million in financing through New Markets Tax Credit (NMTC) allocation. In total, this project received more than $32 million of NMTC allocation from Capital Impact Partners, Chase, Jubilee Manna Community Development Enterprise, D.C. Housing Enterprises, and Industrial Bank. Additional financing support was provided by Chase as the NMTC investor and EagleBank as lender. Diarra McKinney, a D.C.-based developer who runs Rosewood Strategies, was the project’s NMTC consultant. Mr. McKinney is also a participant in Capital Impact Partners’ Growing Diverse Housing Developers program for training and mentoring diverse developers.
One of the largest BIPOC-led impact investing funds, the Equitable Prosperity Fund I, will seek to help accelerate the growth of companies that are creating positive impact in underserved communities.
MAY 14, 2024 (Arlington, VA/San Diego, CA) – The Momentus Capital branded family of organizations is proud to announce the final closing of its inaugural fund, the Equitable Prosperity Fund I LP (the “Equitable Prosperity Fund” or the “Fund”), one of the largest BIPOC-led impact investing funds, with commitments of $171 million.
The Fund’s investments are intended to help growth-stage companies create more social impact in their communities, focusing on outcomes such as increasing access to healthcare and healthy foods, while supporting employee ownership and diverse entrepreneurs.
Through the Equitable Prosperity Fund, the Momentus Capital branded family of organizations will be able to provide opportunities that are rarely available for many entrepreneurs, particularly those who are often underserved and have received a mere fraction of the venture funding available in recent years.
The annual report for the Momentus Capital branded family of organizations showcases the deep and durable impact being created in communities nationwide.
The annual report showcases the many ways that Momentus Capital utilizes financial capital, social capital, and knowledge capital to help entrepreneurs, community leaders, and the communities they serve.
“Everyone deserves the opportunity to succeed. Our work is focused on helping the entrepreneurs and communities whose access to the opportunities they deserve has been limited,” said Ellis Carr, President and CEO of Capital Impact Partners and CDC Small Business Finance.
Now in its second year, “Keeping It Cool” grants provide cold storage support for local small food businesses and nonprofits to improve access to healthy foods
May 1, 2024 (Washington, D.C.) – More than $700,000 in grants have been awarded to 22 food businesses and nonprofits to help them grow while expanding access to healthy food for disinvested communities in the Washington metro area. These include communities experiencing food apartheid, adults and students living with low incomes, children and families that are unhoused, refugees, and incarcerated youths.
The “Keeping It Cool” grants, funded by The Morningstar Foundation, provide these businesses and nonprofits with something essential that many might otherwise take for granted — cold storage infrastructure. The grants will go toward refrigerators, freezers, coolers, delivery vehicles, display cases and other upgrades.
In its 2024 rankings, The NonProfit Times selected the Momentus Capital branded family of organizations as the #3 large nonprofit, #17 overall.
April 15, 2024 (Arlington, VA / San Diego, CA) – The Momentus Capital branded family of organizations has been named one of the best nonprofit employers in the United States, according to The NonProfit Times, the leading publication for nonprofit managers.
Momentus Capital was ranked as the #3 large-sized nonprofit — which includes organizations with 250 or more employees — and #17 overall for organizations of any size.
The Momentus Capital branded family of organizations includes several mission-driven organizations that are dedicated to providing people with access to the capital and opportunities they deserve. These organizations include Capital Impact Partners, CDC Small Business Finance, and their affiliates, Momentus Direct Capital, Momentus Securities (a FINRA-member broker/dealer), and Ventures Lending Technologies.
“It is an honor that The NonProfit Times recognizes the great work we are doing at Momentus Capital. We strive to promote an inclusive culture where employees are motivated to perform at their best, are excited by the work they do, support the customers and communities we serve, and have a sense of belonging,” said Kim Dorsett, Chief Human Resources Officer for the Momentus Capital branded family of organizations.
S&P Global Ratings’ opinion states that Capital Impact’s Social Bond Framework related to the current offering of $200 million of its Capital Impact Investment Notes is fully aligned with accepted social bond principles and social loan principles released by the ICMA, LMA, LSTA, and APLMA
April 1, 2024 (Arlington, VA) – Capital Impact Partners, a nonprofit corporation certified by the U.S. Department of Treasury’s Community Development Financial Institutions Fund as a Community Development Financial Institution (CDFI), announced that it has secured a second-party opinion, or SPO, from S&P Global Ratings stating that Capital Impact’s Social Bond Framework related to the current offering of $200 million of its Capital Impact Investment Notes is fully aligned with international standards, including the 2023 Social Bond Principles published by the International Capital Market Association (ICMA) and the 2023 Social Loan Principles published collectively by the Loan Market Association (LMA), the Loan Syndications and Trading Association (LSTA), and the Asia Pacific Loan Market Association (APLMA).
Social Bond Principles outline stringent eligibility criteria for social projects that Capital Impact Partners may finance and require that the net proceeds of its Impact Investment Notes offering be used for eligible uses, primarily to fund social projects in the affordable housing, education, health care, and food security sectors, and to projects that advance its social mission.
“We are delighted to receive this second-party opinion from S&P Global Ratings,” said Natalie Gunn, Chief Financial Officer of Capital Impact Partners “At Capital Impact Partners, we are committed to providing a continuum of capital to disinvested communities, helping these communities have the chance they deserve to thrive. As such, we are committed to financing social projects benefiting underserved populations and communities.”
Ms. Stallings launched the Housing Equity Accelerator Fellowship and led the Equitable Development Initiative and Entrepreneurs of Color Fund in the D.C. area, helping diverse developers and small business owners receive pivotal financing, training and mentorship.
These awards recognize the entrepreneurial drive, creativity and success of the recipients. The honorees were judged based on their professional accomplishments, community leadership and philanthropy.
Ms. Stallings joined Momentus Capital at the start of 2022 and has made a significant impact with her work over these past two years. She leads programs that help diverse entrepreneurs overcome barriers caused by systemic racism to grow their businesses, close the racial wealth gap, and create more affordable housing, jobs, and other opportunities for the communities they serve.
“These are entrepreneurs who don’t often have easy access to capital compared to their counterparts,” Ms. Stallings said. “Through a number of resources, including flexible capital, technical assistance, educational programming, and by helping them expand their network, we’re hopefully leveling the playing field for them.”
The ImpactAssets 50 is a publicly available, searchable resource of impact investment fund managers who deliver social and environmental impact as well as financial returns
March 18, 2024 (Arlington, VA) – For the seventh straight year, Capital Impact Partners has been selected for the ImpactAssets 50 – a free, annual database for impact investors, family offices, corporations, foundations, and institutional investors that features a diversified listing of private capital fund managers delivering social and environmental impact as well as financial returns.
Capital Impact Partners also remains on ImpactAssets’ Emeritus Impact Managers list, which illuminates impact fund managers that have achieved consistent recognition for at least five years on the ImpactAssets 50. Only 46 of the 155 fund managers on this year’s ImpactAssets 50 have received the Emeritus Impact Managers label.
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