Unlock the Capital for Thriving Communities
Insights from the Article
In past decades, there was an excessive reliance on markets to drive social solutions. This led to investment practices that often mirrored market conservatism, prioritizing scale over social mission and undervaluing customized, community-based solutions. However, the new paradigm takes a different approach. It prioritizes equity, flexible responses to local needs, and active community involvement. It calls for a redefinition of the role of capital technicians and the market, a rebalancing of power relationships, and the elevation of community voice. The field is encouraged to share power with community development practitioners who are not financiers. Philanthropy is also asked to provide patient, long-term capital that trusts the communities it aims to serve.
The article thoroughly analyzes the successes and limitations of the last 40 years of community development finance. It offers a set of principles for a new business approach and describes how innovative organizations and partnerships are putting these principles into practice. This work is a valuable contribution to the field and holds the potential to transform community development.
About the Authors
David Fukuzawa is a strategic advisor and former managing director at the Kresge Foundation. His extensive experience and insights bring a unique perspective to the article. Nancy O. Andrews is a fellow at Stanford University’s Distinguished Careers Institute and former president and CEO of the Low Income Investment Fund. Her expertise in community development finance is evident in the work. Rebecca Steinitz is a writer and communications and learning consultant for schools and nonprofits, including the Center for Community Investment. Her skills in communicating complex ideas make the article accessible and engaging.
Their combined efforts have resulted in a groundbreaking article that is set to make a significant impact on the field of community development. “” is available at A New Paradigm for Community Development Finance, providing a valuable resource for those interested in this important topic.
About the Center for Community Investment
The Center for Community Investment at Rockefeller Philanthropy Advisors is dedicated to ensuring that all communities, especially those affected by structural racism and economic isolation, can access the capital they need to thrive. Supported by the Robert Wood Johnson Foundation, The Kresge Foundation, JPMorgan Chase & Co, and The California Endowment, the center’s work is crucial in addressing these challenges.
Through their efforts, they are working towards a more inclusive and prosperous future for all communities. centerforcommunityinvestment.org serves as a platform to share their work and initiatives, while @C4CInvest keeps the community engaged and informed.
About Rockefeller Philanthropy Advisors
Rockefeller Philanthropy Advisors accelerates philanthropy in the pursuit of a just world. With a rich history and a diverse team of experienced grantmakers, they are at the forefront of philanthropic growth and innovation. Founded in 2002, RPA has grown into one of the world’s largest philanthropic service organizations, facilitating over billion in grantmaking to more than 70 countries.
Currently, they advise on and manage more than 0 million in annual giving by individuals, families, foundations, and corporations. They also serve as a fiscal sponsor for over 100 projects, providing essential governance, management, and operational infrastructure. rockpa.org is their online platform, while @RockPhilanth keeps them connected with the philanthropic community.
Contact Information
For interviews or more information, David Fukuzawa can be reached at [email protected], Nancy O. Andrews at [email protected], and Rebecca Steinitz at [email protected]. Janelle Julien from the Center for Community Investment can be contacted at 2404630578 or [email protected].