Community Foundation’s GoATL Fund seeds LISC Atlanta’s loan fund

Investments will support access to healthcare and healthy food, as well as job creation

ATLANTA – March 10, 2020 – Community Foundation for Greater Atlanta’s impact investment fund, the GoATL Fund (GoATL), has closed on a $1.5 million loan to Local Initiatives Support Corporation (LISC) that will seed their emerging Atlanta loan fund. The investment will fund initiatives that increase access to healthcare, healthy food and financing in underserved neighborhoods in metro Atlanta.

LISC is a national community development financial institution (CDFI) that provides financing and support for community development around the country. As one of over 30 local offices across the U.S., LISC Atlanta opened in 2019 to work with local government, community development corporations and other nonprofits, philanthropies and businesses to revitalize targeted neighborhoods and catalyze opportunity for local organizations and residents. LISC has invested over $20 billion across the U.S. since 1979, resulting in 400,500 affordable homes and apartments, 98 healthy food projects, 90 health projects, 32 theaters and performance spaces, 212 schools, 227 early childhood centers, 391 recreational spaces and hundreds of other initiatives.

“LISC is one of the country’s most impactful CDFIs, and we are thrilled to work alongside them as they open up an office here in Atlanta,” said Mark Crosswell, managing director, social impact strategy at Community Foundation for Greater Atlanta. “Their investments catalyze improved outcomes in communities, which is exactly what we are trying to do – increase equity of opportunity while making modest financial returns.”

This investment marks a total of $9.25 million now advancing affordable housing, education, food access, healthcare and small business development through the GoATL Fund. Launched in 2018, GoATL is the first impact investing fund of its kind in Georgia and enhances the Community Foundation’s traditional grantmaking through flexible, low-cost loans that seek measurable social returns, as illustrated in this video. In its first year alone, GoATL investments sparked 170 multi-family affordable housing units, 120 affordable single-family homes, 15 small business loans and one new school that will grow to nearly 650 students at capacity.

“As we open in Atlanta, we’re proud to count the Community Foundation for Greater Atlanta among our partners and investors,” said Dale Royal, executive director with LISC Atlanta. “This investment will create opportunities that reach across race, class and community boundaries so that all Atlantans – no matter where they live – can tap into economic opportunity.”

The GoATL Fund invests flexible debt in initiatives that address the Community Foundation’s mission to use philanthropy to drive equity and opportunity across the metro Atlanta region. To create efficiencies and leverage even more funding, GoATL often partners with intermediaries like LISC, and other CDFIs, that have the knowledge and expertise to effectively structure loan capital to support solutions addressing critical needs in our region.

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 About the Community Foundation for Greater Atlanta
Since 1951, the Community Foundation for Greater Atlanta has been connecting the passions of philanthropists with the purposes of nonprofits doing that work. With nearly 70 years serving the 23-county Atlanta region and a robust team of experts, the Community Foundation leads and inspires philanthropy to increase the vitality of our region and the well-being of all residents, empowering our donors to focus on the joy of giving. The Community Foundation is a top-20 community foundation, among 750 nationally, with more than $1 billion in current assets and is Georgia’s second largest foundation. Through its quality donor services and bold, innovative leadership on community issues, the Foundation received more than $162 million from donors in 2018 and distributed more than $128 million that same year to support nonprofits throughout the region and beyond. In 2018 Charity Navigator named the Community Foundation a four-star rated nonprofit, its top distinction, putting the Foundation among the top 10 highest-rated community foundations. For more information, visit: cfgreateratlanta.org or connect with the Foundation via Facebook, LinkedIn and Twitter.

About Local Initatives Support Corporation
LISC is one of the largest community development financial institutions in the country, investing more than $1 billion annually to transform lives and revitalize communities.  For 40 years, LISC has worked together with residents and partners to forge resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business, and raise families.  LISC investments have financed affordable homes, retail and small businesses, educational, health and community centers that enhance economic opportunity for residents.  LISC supports its partners through loans, grants, capacity building, technical assistance, and training delivered through on-the-ground staff in 38 cities and national program experts.

Media Contact:
Louise Mulherin, 404.405.1070
louisemulherin@gmail.com