This report discusses how through a better understanding of what defines a quality job and a set of practical methods for measuring the quality of jobs created, we believe Community Development Financial Institutions (CDFIs) and others in the impact investing community will be better positioned to make more effective investments that support good jobs for workers, businesses, and communities.
The experience of developing, launching, managing, and evaluating Invest Northwest has provided important lessons for the Northwest Area Foundation’s and the Annie E. Casey Foundation’s mission investing programs. These lessons are also relevant to impact investors and place-based investors. With the fund coming to a close, this report documents these lessons and reflections, as well as the history of Invest Northwest, the fund’s financial performance, and its strong social performance.
Launched in July 2011 by a broad coalition of public and private partners led by the California Endowment, the $273 million California FreshWorks program provides loans and grants to grocery stores, farmers’ markets, and other food retailers that offer nutritious, affordable food options in communities where such options are scarce. In order to better understand the California FreshWorks program’s food access, social, and economic impact to date, the California Endowment commissioned the first-ever third-party evaluation of the program. The evaluation also sought to document key challenges and lessons from the development and implementation of FreshWorks.
In an effort to support the broader mission investing field, Aligning Capital with Mission offers, for the first time publicly, findings that highlight the strong alignment of The Annie E. Casey Foundation’s Social Investment Program’s impact with the Foundation’s mission and programmatic goals. The report also offers lessons and insights surfaced during the course of the evaluation that can inform foundations and other impact investors in more effectively measuring the impact of their investments.
