The Greater Tacoma Community Foundation is among the first community foundations to incorporate impact investments into the asset allocation of its endowment pool. It began exploring impact investing in 2012, and from the start saw the need to invest out of its endowment. The foundation formed a temporary task force of board and committee members—one member, for example, was the president of a local bank—to analyze the potential of impact investments and make recommendations to the board. The task force later became a permanent board committee. The board decided to commit up to three percent of the endowment for local impact investments. Thus far, it has invested $1.5 million to support small businesses: $750,000 in the National Development Council to create the Grow Pierce County Fund; and an additional $750,000 in the regional CDFI Craft3 for Pierce County-specific opportunities.
The Greater Tacoma Community Foundation
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