Battle Creek Community Foundation Embraces Impact Investing
Q & A with Brenda Hunt and Romy Kochan
Romy Kochan: When did you start to consider 'impact investing' as a
community foundation? What was the attraction?
Brenda Hunt: We have been doing a number of unique “one-off”
transactions for nearly 15 years. However, we really came to begin to
recognize this work as Impact Investing approximately 6 years ago. Staff
spent over a year learning and being involved with some of the private
foundation leaders and private investor leaders. The CEO attended the
first mission/impact investment conference in New York City in 2012.
Other staff and a Trustee attended in 2013. In 2014 we began an
education process with the Board of Trustees. This education process
turned in to a pilot with the formation of a task force in the spring of
2016. After 18 months we are still in the pilot “task force” stage.
However, we completed some transactions and much research during
this time period.
Romy Kochan: Why do you feel your organization needs to consider it
seriously now?
Brenda Hunt: There are two very important reasons: first of all, given the
complexity of the social needs and the level of capital that is required,
we will not be able to “grant” our way to success. We need to deploy
more resources (assets) in order to make a significant impact that even
touches the need. Second; historically, Battle Creek has had
philanthropic dollars available. Many, many situations have been
addressed both successfully and not so successfully thru the granting of
funds. Battle Creek needs to overcompensate in putting a focus on
business practice, revenue generation, and investor attraction. By adding
impact investing to the philanthropic “tools” portfolio philanthropy can
attract and drive more business and more investment from more sources
and thus create more positive impacts!