Aligning Capital With Mission

PCV InSightInSight, Publications

Aligning Capital With Mission

We are pleased to share with you our latest report, Aligning Capital with Mission: Lessons from the Annie E. Casey Foundation’s Social Investment Program. The Annie E. Casey Foundation, a private foundation dedicated to improving the lives of America’s children and families, engaged InSight at Pacific Community Ventures — with research support from The Center for the Advancement of Social Entrepreneurship (CASE) at Duke University — to conduct the first comprehensive third-party evaluation of its Social Investment Program, a $125 million allocation from its endowment dedicated to mission investing. Through the Social Investment Program, the Foundation invests in Community Development Financial Institutions (CDFIs), impact funds, and nonprofit organizations supporting low-income and vulnerable communities across the United States. 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 Social Investment Program’s impact with the Foundation’s … Read More

Our 2015 Social Impact

Patrick DugganPublications

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While our economy is thriving on paper, most of us know that isn’t the whole story. Since the end of the Great Recession, almost 12 million jobs have been created. But, average wages working Americans have dropped 23 percent. The strongest job growth these past few years has all been in low-wage work, at places like strip malls and fast-food restaurants. We hit a tipping point as 2016 began: middle-income households have become the minority in America for the first time since World War II.  And communities of color fare even worse. Frankly, as a nation, we’re better than this. It’s frustrating – but we’re not powerless here. We can do something about it. Since the end of the recession, PCV has helped almost 1,500 small businesses across 45 states to create and sustain tens of thousands of jobs. Check out our full 2015 social impact report: PCV is fighting … Read More

Defining and Measuring The Creation of Quality Jobs

PCV InSightInSight, Publications

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Since the end of the Great Recession, almost 12 million jobs have been created — but most have been in low-wage occupations and at places like strip malls and fast-food restaurants. Average wages for working Americans have dropped 23 percent. It’s become clear that job creation does not equate to lasting economic change. In order to reverse the troubling trends we’re seeing, we no longer find it defensible to focus on job creation alone. We must shift our focus to the creation of higher quality jobs that are good for workers and their families, good for businesses, and good for communities. We are excited to share with you our latest discussion paper: Moving Beyond Job Creation: Defining and Measuring the Creation of Quality Jobs.  Moving Beyond Job Creation has been made possible thanks to the support of the Surdna Foundation, and is the result of a year and a half of extensive research on the topic of … Read More

AI3 Brief: Unleashing The Power Of Pensions

Patrick DugganPublications

AI3 Unleashing The Power Of Pensions

Enterprise Community Partners and Insight at Pacific Community Ventures — co-sponsors of the Accelerating Impact Investing Initiative (AI3) — have released a new issue brief on impact investments by U.S. pension funds. The brief highlights public and private pension funds that have pursued “economically targeted investments” (ETIs), a type of impact investment that seeks certain social goals alongside a market-rate financial return. It comes just weeks after the U.S. Department of Labor, which oversees the fiduciary rules for many U.S. pension funds, issued new regulatory guidance that is expected to open the door to more ETIs in the years to come. To read the full issue brief released today, download the PDF below. The new ETI guidance was just one of several advancements in impact investing policies in 2015. Earlier this month, Congress authorized a new Pay for Success (PFS) demonstration within the Department of Housing and Urban Development to … Read More

California Initiative 2014 Report

PCV InSightPublications

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The tenth annual report examining CalPERS’ California Initiative, a $1 billion private equity, economically targeted investment (ETI). The California Initiative seeks to invest in companies located in traditionally underserved markets, primarily, but not exclusively, located in California. The California Initiative’s primary objective is to generate attractive financial returns, meeting or exceeding private equity benchmarks. As an ancillary benefit, the California Initiative was designed to focus investment in California’s underserved markets and invest in portfolio companies that: Have historically had limited access to institutional equity capital Employ workers who reside in economically disadvantaged areas Provide employment opportunities to women and minority entrepreneurs and managers

CalPERS For California 2014 Report

PCV InSightPublications

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The fifth annual report documenting the California Public Employees Retirement System’s $25.7 billion of investments in California as of June 30, 2014. The report provides an examination of the broad ancillary benefits of all CalPERS investments in California across the asset classes of public equity, fixed income, private equity, real estate, and infrastructure. CalPERS is the nation’s largest public pension fund, with assets totaling $299.6 billion as of March 31, 2015. They have a strong track record of long-term returns, and of mobilizing financial capital in new and innovative ways. Ancillary benefits of CalPERS investments described in this report include the creation and support of jobs, infrastructure for communities and commerce, and business expansion and related economic activity.

PCV’s 2014 Impact Report

Patrick DugganPublications

2014 annual report

Pacific Community Ventures has fueled the economic recovery for low-income communities over the past five years. We’ve empowered small businesses on the ground to create quality jobs by providing working capital combined with expert business advice. At the same time, we know that fostering one small business at a time isn’t enough to combat economic inequality. That’s why we’ve also worked at a national and international level with policymakers and investors to build impact investing markets and drive more private capital toward social good and underserved communities. Pacific Community Ventures creates economic opportunity in underserved communities through essential support networks for small business: Our research and policy work directs private capital to underserved communities and small businesses; From there, our advising services enable those businesses to succeed Our companies’ success makes them ready for additional investment, including capital from our loan program; that business’ growth creates jobs and stimulates the local … Read More

Financing Social Innovation: Analyzing Domestic Impact Investing Policy in the United States

PCV InSightPublications

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The convening partners on the Accelerating Impact Investing Initiative (AI3) project are pleased to present a new discussion paper, “Financing Social Innovation: Analyzing Domestic Impact Investing Policy in the United States.” The AI3 project is a collaborative effort between Enterprise Community Partners, the Initiative for Responsible Investment, and InSight at Pacific Community Ventures to research, identify and educate stakeholders on the best opportunities for strengthening impact investing in the United States through sound public policy. Informed by our research over the past year and a half, as well as the invaluable contributions of our partners and broader coalition, “Financing Social Innovation” offers a view into the intersection of federal policy and impact investing in the U.S. It includes a look at both historic and present ways policy leverages private dollars for social and environmental impact, and offers a set of criteria for evaluating new impact investing policy proposals going forward. The paper … Read More

Business Advising Welcome Kit

Patrick DugganPublications

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BusinessAdvising.org is a nonprofit small business accelerator harnessing the model made famous by venture capital-backed tech startups (access to working capital, expert business advice, and extensive networks) to benefit businesses on “Main Street”. Since 1998, businesses working with us, on average, have seen their revenues increase by 25% on average, and added jobs at 10 times the national level. We’ve empowered hundreds of small businesses to create tens of thousands of jobs. The core of this program is you – the small business owner and volunteer advisor. Your commitment to be successful and to this community is what delivers real value for all. This toolkit is intended to support your hard work by providing some structure, templates, tips, best practices, resources, and lessons learned to set your advising match on the right path from Day One.

Invest Northwest: Eight-Year Social Performance Review

PCV InSightPublications

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Impact measurement is central to the practice of mission investing, allowing mission investors to understand if their investments are meeting their goals and furthering their mission. In our white paper on Invest Northwest (a private equity investment established by Northwest Area Foundation in 2004), PCV’s InSight practice looks at eight years of social and financial performance. We detail how the fund has delivered consistent social impact since its inception, including: strong job growth; steady increases in annual median wages; and higher employee wages than at other private businesses nationally and regionally. Read the white paper now.