The Community Foundation of Greater Atlanta, an organization which connects philanthropists and foundations with non-profits, has launched an impact investment fund focused on Atlanta. The GoATL fund has been initially capitalized with $10 million from the Community Foundation’s unrestricted assets, with the intent to open it up to hundreds of Foundation donors and allow them to do good while seeing a financial return.
The fund’s first investment, announced today, is a $750,000 capital infusion into Atlanta Neighborhood Development Partnership (ANDP). The funding will help grow their single-family revitalization programs to expand housing affordability in the city.
“GoATL’s investment in ANDP is timely due to our region’s overwhelming need for increased affordable housing,” says Crosswell. “ANDP’s model not only creates sustainable living opportunities for many Atlantans, but it also allows these working families to become first-time homebuyers and, in turn, build wealth through homeownership.”
The Community Foundation is hoping this fund is just one piece in a larger strategy to inform and expand impact investing across the state. Crosswell and the Community Foundation are also helping lead a group of diverse stakeholders in the Georgia Social Impact Collaborative(GSIC), which seeks to be a catalyst for the industry.