social investing Posts

One Financial Institution Doing Well, And Doing Good

In 2001 I went to Budapest to attend a conference of excited people exploring new ways of doing philanthropy and international aid. The commercial dot-com boom had already gone bust, but the possibilities in the do-good sector were only just coming into view.For most of us, anyway. But not for Shari Berenbach, the President of the Calvert Foundation, which was by then five years old. The Foundation, which was launched by and housed in the for-profit Calvert mutual fund company, had long been experimenting with many of the ideas being proposed in Budapest.

So I was pleased to see the following last week in the Washington Business Journal:

Calvert Social Investment Foundation has doubled its assets to $200 million over three years. The Bethesda-based nonprofit, which lets investors provide affordable credit to impoverished communities, has sold $160 million of its community investment notes through over 50 financial industry intermediaries.
Now that’s exciting. Congrats, Shari, and congrats, Calvert…