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News from around the sector
Habitat for Humanity launches new social investment tool
, Added: 08 August 2008Habitat for Humanity International has launched a new social investment programme to support the development of affordable housing.
The US-based housing charity is partnering with the Calvert Social Investment Foundation to offer low-interest notes to individual and institutional investors.
Through the Habitat for Humanity Investment Program, investors purchase the notes, and then the money is lent to the charity’s affiliates at below-market interest rates to enable them to build houses at a faster rate and to serve more people.
Jonathan Reckford, chief executive of Habitat for Humanity, said, “The vast need for decent, affordable housing in our world means that we have to be creative in our response to it.”
The notes start at $1,000, from the Calvert Foundation and financial advisors, or $100 when purchased online, though MicroPlace. Investors can choose to earn an interest rate of up to 2%, and the notes can be invested for between one and 10 years. When they mature, investors may collect the principal and interest accrued, reinvest to continue supporting Habitat, or make a tax-deductible donation of their interest.
The initiative is part of the Calvert Foundation’s longstanding Community Investment Notes programme.
Calvert Foundation President and CEO of Shari Berenbach, said “We are so pleased to work with Habitat for Humanity on this investment initiative …. For over a decade, Calvert Foundation has worked hard to show the world how powerful investment can be for helping non-profits thrive and grow.”
- For more information about mission connected investment and options for European funders, see a new report by the New Economics Foundation, ‘Mission Possible: emerging opportunities for mission connected investment’.
