Last week Anthony Bugg-Levine, CEO at Nonprofit Finance Fund, co-authored a blog with Ellis Carr, President and CEO of Capital Impact Partners. (Carr is also an OFN Board member). The piece challenged the community development industry to do more, stating "we are called to address the inequality and injustice that continue to hold too many people back."
The two make the case that CDFIs are beyond proof of concept and ready to double down, "our industry has proven to the skeptics that partnering to invest in low-income communities can indeed yield a double return, making both business sense and positive impact...Our generation is called to answer a new question: How can community development finance make a measurable contribution to addressing the inequality and injustice that continue to undermine our national aspirations?"
In case you missed it, read the full article here to see ideas about where community development finance can play a stronger role going forward, "Vocal social movements and private conversations painfully reveal the persistent and pernicious structural prejudice and inequality in our country. The community development finance industry owes it to our founders and our country to help the healing. We honor our legacy when we recognize how far we have traveled while keeping our sights on how much more we can become."