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Impact investments by The Greater Cincinnati Foundation and its donors include CincyTech, which has announced its largest funding to date.
CINCINNATI (April 18, 2016) — The Greater Cincinnati Foundation uses impact investing to tie the discipline of the market with the social mission of philanthropy. These investments use charitable assets to invest in projects that can generate revenue as well as direct community benefits.
Impact investments by The Greater Cincinnati Foundation and its donors include CincyTech, the largest seed investor in the region.
“After the economic downturn, The Greater Cincinnati Foundation and its donors realized we needed not just to place people in jobs, but to create jobs here in Cincinnati,” said Robert Killins Jr., director of Vibrant Places. “We want to grow our local economy. Through CincyTech, we are investing in local businesses, and investing in local jobs.”
Find out about impact investing at The Greater Cincinnati Foundation
One of the nation’s leading community foundations, The Greater Cincinnati Foundation helps people make the most of their giving to build a better community. We believe in the power of philanthropy to change the lives of people and communities. As a community foundation, GCF creates a prosperous Greater Cincinnati by investing in thriving people and vibrant places. An effective steward of the community’s charitable resources since 1963, the Foundation inspires philanthropy in eight counties in Ohio, Kentucky, and Indiana. At the end of 2015, GCF had net assets of $533 million.
“What you do makes a difference, and you have to decide what kind of difference you want to make.” - Jane Goodall
The symposium’s keynote speaker, Jean Case, reported a comment she heard recently from a college student: “Why would you just settle for a financial return?” Case, Chairman of National Geographic Society, founder/CEO of the Case Foundation and a former AOL executive, sees significant societal and cultural shifts around unleashing capitalism — and the power of entrepreneurial-based strategies — as a force for good. In her book, "Be Fearless: 5 Principles for a Life of Breakthroughs and Purpose", those strategies include: make a big bet; be bold, take risks; make failure matter; reach beyond your bubble; and let urgency conquer fear.
CINCINNATI (June 30, 2017) — The Greater Cincinnati Foundation previewed our new Community Investment Strategy this week to 400 individuals representing 320 organizations that are making a difference in our community. The information presented is now available. We appreciate your feedback, comments and questions anytime. You can submit them to firstname.lastname@example.org.
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The Greater Cincinnati Foundation’s goal is to build a more prosperous region where more people can thrive. As your community foundation, we are committed to connecting and supporting, inspiring and innovating and thinking big! Our role is also to align the goals for donors, past and present, with community needs and to champion greater giving to support projects, initiatives and organizations who make our region even greater. When this happens, we all rise together.
One of the nation’s leading community foundations, The Greater Cincinnati Foundation helps people make the most of their giving to build a better community. We believe in the power of philanthropy to change the lives of people and communities. As a community foundation, GCF creates a prosperous Greater Cincinnati by investing in thriving people and vibrant places. An effective steward of the community’s charitable resources since 1963, the Foundation inspires philanthropy in eight counties in Ohio, Kentucky, and Indiana. At the end of 2016, GCF had net assets of $563 million.
Mike shares GCF’s interest in a revitalized urban core, where entrepreneurs with bright ideas bring jobs to the region.
“There is a real synergy of what’s going on downtown and the entrepreneurship there,” Mike said. “They feed off each other.”
CincyTech is one of the organizations that is making this synergy happen. A seed-stage fund that invests in and provides management assistance to software and life science companies, CincyTech’s portfolio companies have created 833 jobs with a $79,000 average salary. The majority of these jobs are in our region.
GCF supports job creation and the work of CincyTech through Impact Investing and grants. Using charitable dollars, GCF and its donors invest in projects that can generate both social and financial returns. When principal and earnings are returned to donor advised funds, the resources can be reinvested in other Impact Investments or grants.
For Mike, Impact Investing was an opportunity to assist CincyTech through his donor advised fund.
“Donate once, give twice,” he said. “That’s the way I look at it. Not only do I get a return on my investment, I get to make an impact on the community.” GCF and its donors invested $500,000 in CincyTech’s Funds II, III, and IV. Fund IV is projected to create at least 600 jobs in Southwest Ohio, each earning about $80,000 a year.
“After the economic downturn, we needed not just to place people in jobs but to help create jobs here in Cincinnati,” said Robert Killins, Jr., program director of Vibrant Places. “We want to grow our local economy. Through CincyTech, we are investing in local businesses, investing in local jobs.
"The secondary return is the mindset change that young individuals view Cincinnati as a place for entrepreneurs,” he added. “They can get capital and mentorship through CincyTech to grow their businesses locally.”
“The work that we do and the redevelopment of the neighborhoods, it attracts people not only to the new companies, but the established ones like P&G,” said Bob Coy, president/CEO of CincyTech. “Everyone benefits.”
That’s an impressive return on an investment.
To date, $11.8 million has been invested in community projects and funds through Impact Investing by The Greater Cincinnati Foundation and its donors. Mike Collette’s CincyTech investment was part of Generous Together.
Published in the 2015 Annual Report to the Community.
CINCINNATI (June 2, 2016) —The Greater Cincinnati Foundation was one of eight organizations examined to get an understanding of how impact donor advised funds, an emerging social finance instrument in the philanthropic sector, work in North America in a joint paper released by Social Venture ConneXion (SVX) and Tides Canada.
“It is a well-documented fact amongst those in the social change and philanthropic sectors that, in order to tackle our most pressing social and environmental challenges, we must mobilize capital in both its investment and philanthropic forms," the authors write in the report, "Impact DAFs" A Scan" [PDF]. "This has lead to an explosion of foundations re-aligning their investment portfolios to meet their mission aims. Investment portfolios in this context largely consist of endowment funds, as many private foundations across Canada and the US have actively transformed their investments into mission-supporting vehicles.”
Learn more about Impact Investing at The Greater Cincinnati Foundation.
This report was written by Marie Ang, Adam Spence, and Todd Jaques and published April 2016. The case study on The Greater Cincinnati Foundation begins on page 10.
Read the full report, “Impact Donor Advised Funds: A Scan” [PDF]
CINCINNATI (April 25, 2018) — The Greater Cincinnati Foundation recently awarded $255,000 in grants to 17 local nonprofits to drive greater belonging, independence and authorship with and for people with disabilities. All grants awarded were made in partnership with GCF donors past and present.
GCF is hosting these organizations for a year-long learning journey and challenging them to seek collaborative solutions to maximize impact. In partnership with the nonprofit social innovation firm, Design Impact, organizations are participating in 1,334 hours of training and dialogue to change their approaches and learn from one another.
“The idea of a person with a disability fully belonging to their community, we have big barriers to that,” said Dan Connors, CEO, St. Joseph Home. “We need to think differently about how we’re going to solve this problem.”
The priorities for this funding cycle include strengthening partnerships, building a community of belonging and redefining the way things have always been done. The priorities were created in conjunction with the participating organizations. Each nonprofit received a $15,000 in support to test their innovative concepts as well as a series of trainings throughout the year.
“We’re always asked to show the efficacy of what we’re doing when we need funding,” said Rob Seideman, CTRH’s executive director. “So we rely on those things that we do well. But if we’re going to work with people in new ways, we need to change what we’re doing. And that’s what’s so great about this opportunity.”
More than $25,000 awarded in this grant cycle represent donor co-investments.
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“It is an honor to work side by side with these experts in their field who are so passionate about figuring out new ways to create even more meaningful lives for those they exist to serve,” said Molly Robertshaw, GCF program officer.
“This funding effort represents GCF’s interest in being a nimble and innovative partner for nonprofits,” said Ellen M. Katz, president/CEO. “We want to help our community to build a region where everyone can thrive.”
As the region’s leading community foundation, the Greater Cincinnati Foundation connects people with purpose in an eight-county region in Ohio, Kentucky and Indiana. GCF is leading the charge toward a more vibrant Greater Cincinnati for everyone – now, and for generations to come. As of 2017, GCF is the 35th largest U.S. community foundation with net assets of $636 million.
View full list of nonprofits receiving grants [PDF]
CINCINNATI (January 19, 2015) — The Greater Cincinnati Foundation is pleased to welcome its new Governing Board member Maribeth Rahe. She is president and chief executive officer of Fort Washington Investment Advisors, Inc., a wholly owned subsidiary of Western & Southern Financial Group, based in Cincinnati.
Rahe is a graduate of Bowling Green State University. She was a Ph.D. candidate at The Ohio State University and earned her Master's of Business Administration in International Management with honors from Thunderbird School of Global Management in Glendale, Arizona.
She serves on several regional and national boards of directors, including Cincinnati Arts Association, vice chair; Cintrifuse; Consolidated Communications Holdings, Inc.; United Way of Greater Cincinnati Investment Committee; Sisters of Notre Dame de Namur Development Advisory Board; Xavier University Williams College of Business Board of Executive Advisors; Cincy Tech Advisory Board; Cincinnati USA Regional Chamber; First Financial Bancorp and First Financial Bank, N.A.; Cincinnati Women’s Executive Forum, secretary; and Cincinnati Country Club. She also serves as a life trustee to Rush-Presbyterian-St. Luke’s Medical Center and The New York Landmarks Conservancy.
A well-known and acknowledged expert in financial services, Rahe was featured in Vanity Fair magazine as one of “America’s Most Influential Women-200 Legends, Leaders and Trailblazers.”
Leaders of representative and diverse local groups appoint volunteers to serve on GCF’s Governing Board for three-year terms.
One of the nation’s leading community foundations, The Greater Cincinnati Foundation helps people make the most of their giving to build a better community. We believe in the power of philanthropy to change the lives of people and communities. As a community foundation, GCF creates a prosperous Greater Cincinnati by investing in thriving people and vibrant places. An effective steward of the community’s charitable resources since 1963, the Foundation inspires philanthropy in eight counties in Ohio, Kentucky, and Indiana.
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