Habitat for Humanity International offers investment-based initiative to support house-building projects
Investment Program with Calvert Foundation creates an additional way to help finance Habitat’s Work
ATLANTA and BETHESDA, Md. (July 24, 2008) —Habitat for Humanity International and Calvert Social Investment Foundation today announced the launch of the Habitat for Humanity Investment Program, which will enable people to support Habitat for Humanity as they make affordable housing part of their investment portfolio.
Facilitated through Calvert Foundation’s Community Investment Note, the program provides a means for individuals and other nonprofits to invest their money into a fund that directly benefits Habitat for Humanity. The notes start at a $1,000 minimum (when purchased directly from Calvert Foundation – www.calvertfoundation.org/habitat – or through a financial adviser) and $100 when purchased online at MicroPlace (www.microplace.com/habitat ), an eBay company.
The notes may be invested for one, three, five, seven or 10 years, and investors choose to earn an interest rate up to 2 percent. The full value of the principal is then loaned to Habitat for Humanity, enabling Habitat to obtain access to low-cost, flexible capital, which then will be used to serve more families and build houses at a faster rate.
At maturity, investors may collect the principal and interest accrued, or they may reinvest to support Habitat and help provide a sustainable solution to fighting poverty. Investors also have the option of making a tax-deductible donation of their interest to Habitat for Humanity.
“The vast need for decent, affordable housing in our world means that we have to be creative in our response to it, while staying true to Habitat’s mission,” said Jonathan Reckford, CEO of Habitat for Humanity International. “This exciting opportunity with Calvert Foundation will generate more capital to help further that mission. As supporters invest in the Habitat Investment Program, we will be able to strengthen our capacity, which, in turn, will allow us to invest in more families as together we build simple, decent homes worldwide.”
Calvert Foundation, which is a nonprofit organization that raises investment capital through individuals and institutions and uses the funds to provide affordable loans to nonprofit organizations, issues the Community Investment Notes. Calvert Foundation has raised more than $140 million over the last 12 years through similar Community Investment Note programs and has helped build more than 12,500 affordable homes.
“We are so pleased to work with Habitat for Humanity on this investment initiative,” said Shari Berenbach, president and CEO of Calvert Foundation. “For over a decade, Calvert Foundation has worked hard to show the world how powerful investment can be for helping nonprofits thrive and grow. The Habitat Investment Program will make a meaningful impact for families who need affordable housing.”
About Calvert Foundation
For over 12 years, Calvert Social Investment Foundation (Calvert Foundation), a nonprofit 501(c)(3) organization, has been working to make community investment a safe and logical option for all investors seeking to make a positive social impact. To make community investment accessible to a wider audience, Calvert Foundation has removed critical barriers by creating investment products that blend both financial and social returns. With more than $200 million in assets, Calvert Foundation focuses on using investment capital, rather than conventional philanthropy, to create a sustainable, scalable model that enables nonprofit organizations, microfinance institutions and social enterprises to address critical social problems. More information is available on http://www.calvertfoundation.org .
About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat has built more than 250,000 houses worldwide, providing simple, decent and affordable shelter for more than 1 million people. For more information, visit http://www.habitat.org .
Editor’s Note: Calvert Foundation is a separate entity from Calvert Group Ltd. and its products should not be confused with any Calvert Group-sponsored investment product. In order to avoid confusion and be consistent when referring to Calvert Foundation in print news stories, always use “Calvert Foundation” as opposed to “Calvert” in headlines and subheads.
Listen to a recording of the telephone news conference announcing the launch of the Habitat for Humanity Investment Program.
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