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Non-profits Make Web Pitch for Community Investments

CHICAGO-Social Investment Forum Foundation and Co-op America launch a web site for individual and institutional investors, whose money will be needed to bridge a gap caused by shrinking federal funds.

By Mark Ruda | Updated on May 18, 2005

CHICAGO-Even if it is 1%, community investing has a place in individual and institutional portfolios, according to the Social Investment Forum Foundation and Co-op America. The groups have launched a web site, www.communityinvest.org, which offers information and links to investment opportunities worldwide, including commercial real estate developments and loan funds.

The move is partly a response to current and proposed cuts in federal funding of programs such as Section 8 public housing assistance and community development block grants, according to members of the non-profit foundations. “Institutional and individual investors need to step in and make up the difference,” says Shorebank senior vice president Jean Pogge, chairperson of the community investing program. “Community investing is not a grant or a subsidy, but a sound investing option and an effective model for community development.”

The groups’ web site offers investment opportunities from about 400 institutions. “There’s a little bit of everything out there,” says Pogge, whose own firm’s products include money-market accounts and certificates of deposits, but pay market rates on money invested in low- and moderate-income communities.

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