Lending

RSF Funds Development of Sebastopol Charter School’s New Campus

March 27, 2014

RSF Social Finance (RSF) is pleased to announce a new loan to The Charter Foundation, the fundraising organization that supports the K-8 Waldorf-inspired Sebastopol Charter School. RSF was selected by the Foundation as their lender of choice to finance the acquisition of a 20-acre property and the construction of a permanent, unified campus for the entire school population on the new site

charter_ribbonsSebastopol Charter School was founded by Greg Haynes and Ursula Kroettinger, two former Waldorf school administrators who wished to bring Waldorf education to their community without the financial barriers of private school tuition. Waldorf education, developed by Rudolf Steiner in 1919, is an arts-rich approach to education that focuses on teaching the whole child – head, hands, and heart. Waldorf schools have traditionally been private and more readily accessible to middle and upper class families. However, a shift is occurring: according to the Alliance for Public Waldorf Education, the number of Waldorf-inspired public schools has risen quickly, from around a dozen in 2000 to over fifty in 2014, making this education model available to far more children regardless of family income.

“RSF is inspired by the work of Rudolf Steiner and we believe in the importance of supporting creativity and human spirit,” says Ted Levinson, Director of Lending at RSF. “We have a long history of supporting Waldorf education in private schools and seeing these values transferred to the public education system is an important step in developing the next generation of inspired leaders.”

As one of the first Waldorf-inspired charter schools in the nation, Sebastopol Charter opened its doors in 1995 to its pioneering kindergarten class. Each subsequent year another grade was added as the previous class advanced, until the first 8th grade class graduated in 2005. With the school’s rapid expansion, The Charter Foundation was founded with the mission of establishing and supporting a permanent, Waldorf-inspired charter school.

charter_music1“Since the school’s founding nearly two decades ago we’ve searched for a permanent campus site that would provide our students the spaciousness to move with freedom and to explore and learn through their natural environment,” says Chris Topham, Executive Director of Sebastopol Charter. “Since that time, RSF has been a key partner in helping us realize that dream, first providing the backing needed to develop our current urban campus, and now supporting our efforts to take our school to the next level at our new, unified campus.”

RSF initially provided a loan to the Foundation in 2000 to help build the school’s downtown campus, housing the third through eighth grades, while the K-2 program is housed on a separate site leased from the chartering district. The downtown facility, now owned free and clear by the Foundation, has served its purpose as a temporary home and investment property while the school searched for the ideal site for its new home. This new RSF loan has been used to acquire a 20-acre parcel of land, and will support the development of the first phase of the new campus which will finally unify the entire school.

Sebastopol Charter School has been successful in recruiting and retaining high quality teachers, providing a full and rich Waldorf curriculum including strings, handwork, woodwork, Spanish, games, social inclusion and eurythmy, and attracting a dedicated and informed parent body. As a result, Sebastopol Charter is now widely regarded as one of the leaders in public Waldorf education nationwide. Its success has encouraged scores of other public schools to offer a Waldorf-inspired education to any child, regardless of the ability to pay.

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About The Charter Foundation

The Charter Foundation is the fundraising organization for Sebastopol Charter School, a public charter school in Sebastopol, California. Established by the school’s founders in 1998, the Foundation is charged with the mission of supporting Sebastopol Charter School in providing both a full Waldorf program and in establishing a permanent, unified, and spacious campus. www.thecharterfoundation.org

RSF Makes a New Loan to 18th Street Arts Center

March 17, 2014

RSF Social Finance (RSF) is pleased to announce a new loan to 18th Street Arts Center (18SAC), a non-profit artist residency program that provokes public dialogue through contemporary art-making. This loan will allow 18SAC to refinance their existing mortgage and provide funds for reserves. As 18SAC celebrates their 25th anniversary this year, RSF also looks forward to growing with the organization in the coming years as they build out the facilities to expand their programing – and gear up for another successful 25 years.

283585_10150737152565454_1365260_nArtist residency programs exist around the world, in both urban and rural settings, serving anywhere from one artist to over 50 artists. The residency programs can appear in art museums, retreat centers, schools, universities, independent non-profits, or community centers and their focus can be multidisciplinary or focused on specific areas, such as visual arts, dance, theater, technology arts, writing, and more. According to The Alliance of Artist Communities, a leading association of artist residency programs, there are more than 500 programs in the US and thousands more across the world serving more than 10,000 artists domestically and 20,000 more worldwide. Most are multidisciplinary, like 18SAC, and are considered research and development labs for creative work.

Founded in 1988, 18th Street Arts Center has fostered and supported the work of many of Los Angeles’ most engaging and diverse artists, and has built bridges to artists communities around the globe. The organization values art-making as an essential part of a vibrant, just, and healthy society.

“18th Street Arts Center is a deeply committed social enterprise which plays an important role in the arts landscape both in Southern California and internationally,” explains Reed Mayfield, RSF Senior Lending Associate. “By providing affordable live/work studios and a creative space conducive to an artist’s professional development, 18SAC facilitates inter-cultural collaboration and community engagement in the arts.”

18SAC provides a hub for contemporary art through two program areas that reflect its mission: 1) A three-tiered Residency Program that fosters inter-cultural collaboration and dialogue and 2) A Public Events and Exhibition Program that focuses on engaging with the public and revealing the art-making process through exhibitions, events, talks, publications and other opportunities.

The Residency Program has three strategies to support artists. The first is a long-term residency for mentoring artists and ‘anchor’ organizations, which have helped to define the character and scope of the organization. The second is a mid-term residency, which is a three-year program for California artists to advance their careers. Lastly, they have a short-term residency for national or international visiting artists and curators who reside at 18SAC for one to three months.

The Public Events and Exhibition Program includes 18SAC’s signature Artist Labs series, the new Curator in Residence Program, presentations of emerging artists, and a lecture series featuring artists, curators, and scholars whose presentations relate to exhibition content and themes explored in residencies.

Housed in five buildings on its 1.25-acre site in Santa Monica, California, 18SAC provides a physical center that promotes collaboration and dialogue for contemporary art in a region characterized by its de-centralization. 18SAC is the largest arts organization in the City of Santa Monica, and is the largest artist residency program in Southern California.

“18th Street Arts Center is privileged to own this exceptional community resource and we are thrilled to have RSF as a new finance partner supporting the work we do for artists as we celebrate our 25th Anniversary,” says Jan Williamson, Executive Director at 18SAC. “RSF’s loan is helping us make plans for the next 25 years.”

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About 18th Street Arts Center

Founded in 1988, 18th Street Arts Center (18SAC) is an artists’ residency program in Santa Monica, CA that provokes public dialogue through contemporary art-making. The organization values art-making as an essential part of a vibrant, just, and healthy society. Through artist residencies, 18SAC fosters inter-cultural collaboration and dialogue. 18SAC residencies, exhibitions, public events, talks, and publications encourage, showcase, and support the creation of contemporary art. 18SAC is a non-profit organization generously supported by its Board of Directors, individuals and corporate donors, private and corporate foundations, and government agencies. A corpus of over 50 dedicated volunteers support 18SAC’s visitor services, programs, and administrative functions. www.18thstreet.org

Creatively Financing the Arts

January 30, 2014

This essay was originally published in the Winter 2014 RSF Quarterly.

Reed Mayfield 3 (2)By Reed Mayfield

Can you recall a moment when a song, a painting, a dance, or a theatrical performance moved you deeply? If you can, perhaps the experience caused you to gain a new or different emotional awareness. The arts have a unique ability to transcend age, socio-economic status, geographic location, and ranges of personal experience. The arts can simultaneously facilitate an artist to produce their work and a patron to enjoy the experience, piece, or production; the arts can also create economic value. Art promotes creativity, expression, identity, innovation, and aesthetics. These things are what we typically associate with the arts. What is less understood, however, is the multidisciplinary impact the arts have on social development, learning, and the economy. These three aspects are at the heart of what RSF focuses on through its lending activity to arts organizations, and they are the indicators of RSF’s values—the arts can serve the highest intentions of the human spirit.

Art takes many forms, and there are many types of organizations that foster the arts through their programs and services. RSF is committed to supporting arts organizations that promote creativity, spiritual awareness, and provide community to people of all backgrounds. Specifically, we fund organizations that contract directly with schools or community-based organizations; provide support systems for artists, or arts organizations; and facilitate the economic prosperity of the arts.

Non-profit arts organizations face several challenges to reaching financial sustainability. In particular, these organizations have historically relied heavily on foundation and individual giving. According to a 2012 report from The Stanford Center on Poverty and Inequality, the recent recession contributed to a 10.9 percent drop in individual giving between 2007 and 2010.  Another financial issue art organizations face is the reimbursable grant format: an organization must incur the expenses related to the programming before a grant is awarded. This form of grantmaking can cause strain on the cash flow of an organization, and make it hard to meet overhead responsibilities, let alone budget for program growth. Arts organizations also tend to have untraditional assets such as contracts, incoming grants, or pledges, which may limit access to credit for growth or operations.

With a strong history of supporting the arts and an understanding of how non-profits work, RSF is uniquely poised to address these financial challenges. In particular, RSF is able to provide critical financing for working capital, facilities renovations, construction projects, or acquisition of space—financing that arts organizations often could not receive from conventional lending institutions. RSF is able to do so by employing innovative financing structures. For example, for working capital needs, RSF is able to offer a Grants Receivable Line of Credit. This entails looking at a forward rolling year of confirmed grants and making funds available based on this total. This gives an organization access to capital when their cash flow may otherwise be strained by inconsistent funding and reimbursable grants. In other cases, some financing needs are addressed by Pledge or Guarantee Loans where the organization’s community participates by providing the assets necessary to secure a loan. This creates a strong financial relationship that involves organizational leadership, beneficiaries or customers, and donors.

As of late, RSF has reinvigorated its historical focus on the arts. Given the state of our culture, the arts and access to them are more important than ever. At RSF, we believe the social value created through the growth of the arts has deep, long-term positive impact in the world. We invite you to join the conversation and share your insights into the arts and how we can create the systems necessary to support their financial and creative sustainability.

Reed Mayfield is Senior Lending Associate at RSF Social Finance

New RSF Video: Relationship Matters

January 9, 2014

RSF is transforming the way the world works with money by building relationships within our financial transactions. Our quarterly pricing meetings are a great example of what that process can look like. Each calendar quarter, RSF resets the interest rates for investors and borrowers in the Social Investment Fund community. In keeping with our values of interdependence, trust, and community, we invite our investors and borrowers to take part in a facilitated discussion with RSF staff to help determine what rates will best meet the needs of all stakeholders.

Watch this video, from our September 2013 pricing meeting held in Philadelphia. Learn why relationship matters for borrower – Common Market Philadelphia, and investor – Irma Jennings.

RSF Links Socially-Conscious Borrowers, Investors

December 18, 2013

RSF was recently featured in an article in the The Press-Democrat. Author Cathy Bussewitz interviewed Don Shaffer, President & CEO, and other attendees of the recent Pricing Meeting in Santa Rosa, CA.

It was a strange place for a meeting about interest rates.

On a cold night at the Summerfield Waldorf School in Santa Rosa, while a crowd mingled in the school auditorium munching on locally made hors d’oeuvres under the warm lights of a Christmas tree, a group of borrowers and investors hashed out specifics on the details of their loans.

The event was held by RSF Social Finance, a San Francisco-based nonprofit that provides loans and investment opportunities to socially-conscious enterprises. It was part of RSF’s attempt to make finance more transparent, by bringing borrowers and lenders together in one room.

“Our stated mission is to transform the way the world works with money, and the way we look at it is one relationship at a time,” said Don Shaffer, president and CEO of RSF.

Press-Dem image

Esmerelda Arreola packages tea displays of Guayaki yerba mate at its Sebastopol facility. (John Burgess/ Press Democrat)

“The way I describe our financial system today is as complex, opaque and anonymous, based on short-term outcomes,” Shaffer said. “And what we try to do at RSF is to model financial transactions that are direct, transparent and personal, based on long-term relationships.”

To accomplish that goal, RSF creates an unusual opportunity for the borrowers — companies like Sebastopol beverage maker Guayaki — to meet with investors. In the gatherings, known as “pricing meetings,” the borrowers explain how they’ve been spending their money and how a change to their interest rate would impact their bottom line. Investors have a chance to meet the entities they’re helping to develop, and they also get a chance to chime in on what a change to the interest rate would do for their financial outlook.

“The pricing meetings are so powerful,” said Susanne Karch, owner of Estate Services, based in San Rafael, who has invested about $17,000 in RSF. “After those meetings, I always go home and write another check.”

Read the full article here

 

Small Grain, Big Change

November 19, 2013

This essay was originally published in the Fall 2013 RSF Quarterly

by Jillian McCoy

In 1993, Caryl Levine and Ken Lee decided they wanted to start a business together. They took a market research trip to China and while visiting rural farmers, they found their calling. Caryl and Ken were introduced to the culture of rice and some of the issues connected to it: an astounding loss of rice biodiversity, the plight of farmers at the base of the pyramid, and unsustainable agriculture practices. “The most unique rice widely available in US supermarkets at that time was Basmati. It was shocking to learn that thousands of varieties were going extinct because there was no market,” says Levine. “When we started to think about the larger economic and environmental impacts, we knew we had a great opportunity in front of us.”

These economic and environmental impacts are of no small measure. Nearly half the world’s population relies on rice as its dietary staple and about 75% of that supply is generated by small-scale, irrigated production—simply put, small farmers. This type of production consumes up to one-third of the Earth’s annual freshwater supply, depletes soils, and after cattle, is the second leading cause of man-made methane production (a major contributor to climate change).

Two years after that trip, Levine and Lee co-founded Lotus Foods, Inc. with a mission to support sustainable global agriculture by promoting production of traditional heirloom rice varieties, some of which may otherwise have become extinct, while enabling small family rice farmers to earn an honorable living. Lotus Foods works with in-country partners to source rice from Bhutan, Cambodia, China, India, Indonesia, Thailand, Italy, and Madagascar, and distributes it in natural food and specialty grocery stores in the US and Canada.

When Lotus Foods was founded, distributing fair-trade heirloom rice varieties from farmers in developing countries to North American consumers was new ground. “We were totally winging it,” says Levine. “We had to take a crash-course on rice, farming, and the whole industry.”

In addition, Levine and Lee faced a challenging supply chain. On one side, they were working with farmers to improve quality assurance (for US markets), and helping to educate them on the long-term impacts of sustainable practices versus the short-term economic rewards touted by conventional distributors. On the other side—distributors, retailers, and consumers—needed education on the value of diverse rice varieties and fair-trade pricing. But their passion for their mission was always there, and, slowly but surely, the company gained traction.

Group shot

Ken and Caryl with farmers from the Ramnagar Project in the Himalayan State of Uttarakhand, who are growing traditional basmati rice organically using System of Intensification methods

In 2005, Lotus Foods developed a game-changing partnership. They were contacted by staff at Cornell University who were involved in promoting research and awareness about a sustainable rice-growing methodology called System of Rice Intensification (SRI). The SRI methodology uses significantly less water than the conventional flooding methods used to grow rice, and results in higher yields and the need for fewer inputs (seed, synthetic fertilizer and pesticide, and often labor). Furthermore, whereas the water-logged soil of conventional rice paddies is ideal for methane production, SRI fields with drier soils and healthier plants are not.

SRI improves global food security, empowers poor households, conserves water resources, and promotes human and environmental health. Today, SRI is enabling some of the world’s most marginalized farmers to double their yields (or more) using 50% less water, 80-90% less seed, and no agrochemicals. Over 2.5 million farmers in 50 countries have recorded successful adoption.

Despite this success, SRI has experienced some resistance. “True of any great development, it always meets initial skepticism,” says Lee. “This approach is the exact opposite of input-driven agribusiness. It’s very farmer friendly and you don’t have to buy any inputs like seeds or fertilizers.”

As for resistance from the scientific community, “Farmers know best how to make this work on their land. It’s a methodology not a technology,” says Lee. “Researchers are challenging this because they can’t replicate it in their labs. As long as farmers are seeing it work in their fields, I don’t really care what the dissenters are saying.  And consumers and the food industry have been very supportive of our efforts to create market incentives for SRI farmers.”

Lotus Foods now helps their current farmers transition to SRI growing methods, and partners with existing communities of SRI farmers to bring their rice to market. Sustainability and economic empowerment remain at the heart of their efforts. “New farmers must produce enough for themselves and their community before exporting even becomes a possibility,” says Lee.

As farmers flourish, so does Lotus Foods. In recent years, the company made significant investment in rebranding their line, building their management team, and solidifying their commitment to SRI. Despite some losses during the recession, the company is now poised for growth and has been profitable for the past two quarters.

Lotus Foods recently developed a new partnership with Whole Foods which is now distributing a new value-added product line. The company is continuing to develop new products and distributes via other major retailers like Safeway and Costco. In January 2013, RSF financed a line of credit to support this growth.

Working with RSF was a natural fit for Lotus Foods. “We’ve always valued working with a mission-aligned financial partner,” says Lee. “A financing relationship is one of the most important for any business owner.”

As the company grows, Levine and Lee are still focused on what inspired them in the first place: social and environmental impact. When it comes to the company’s success, they aren’t concerned with growth simply for the sake of profit. “What we really want is to expand the market for our product, so that more farmers have an opportunity to grow this way,” says Lee. “Global warming, water resources, food sovereignty, poverty alleviation—major issues worldwide—these can all be positively affected just by changing how rice is grown.”

Jillian McCoy is Senior Associate of Communications at RSF Social Finance

Serving the Underserved: Marketing to Make a Difference

October 28, 2013

RSF and borrowers, Indigenous and Common Market, were recently featured in Forbes. Author Patrick Hanlon, shares stories of social entrepreneurs across the world using the power of business to address economic and social challenges.

timetothink-300x222The numbers who are underserved is beyond counting. The important news is that the ways we help to support other human beings is evolving, transforming.

The tipping point is gyrating like a mobius strip.

“Structurally it has been a little botched,” says Don Shaffer, president and chief executive officer of RSF Social Finance. “The emergence of impact investing is encouraging.”

Impact investments are made to companies, organizations, and funds with the intention to generate measurable social and environmental impact. This is a flip on typical venture capital investing, where most firms are in search of scalable opportunities.

“We are the opposite,” says Shaffer. “If our financial system today is complex, opaque and anonymous, the world we would like to see is direct, transparent and personal—based on long-term relationships.”

Shaffer cites two more differences. First, RSF Social Finance is funded by individuals and families, not by institutional investors. This means they are not driven by quarter-to-quarter financial results. They can take the longer view.

Second, RSF looks at companies designing new platforms that create wholesale change. That means the funded company itself may remain local, but their concept may be scalable to other communities.

Read the full article here

New RSF Video: Financing Social Enterprises

October 23, 2013

RSF currently provides $75 million in financing to over 80 for-profit and non-profit social enterprises.

Watch this new video to learn more about three of these organizations: Camphill Communities California, Guayaki, and Ceres Community Project. Hear their senior leaders talk about why they chose a mission-aligned financing partner and the relationships we’re building with them on our journey to transforming the way the world works with money.

Do you know of a social enterprise in need of funding? Share this video and spread the word!

 

Local Initiatives Fund: Integrating Capital for Impact

September 26, 2013

Kelley Buhles RSF Social Finance

This article was originally published in the 2012 Annual Report.

By Kelley Buhles

How does innovation happen at RSF? Where do great new ideas come from? In 2012, an extraordinary thing happened that reminded us all how innovation is truly a co-creative process.

Working in collaboration with donors, the RSF philanthropic services and lending teams launched the Local Initiatives Fund. With a focus on building socially and ecologically sustainable regional food systems, this fund utilizes an integrated approach to investment through the deployment of philanthropic dollars allowing us to leverage our expertise across two disciplines, grantmaking and lending.

One of the exciting things about this fund is how it was created. A donor approached us early in the year expressing their admiration for our work and their trust in our values. They asked us, “How can you put our philanthropic money to work to build local, resilient economies?” What was special was not the question, but rather the donor’s willingness to release the gift – we were freed to think creatively about how we could best use these philanthropic funds to create more impact. The spirit of the free gift created the space for innovation.

We recognized that our lending team needed philanthropic funds to better leverage their work financing local sustainable food systems. In the past few years, the social finance field has seen that social entrepreneurs, those trying to make positive social and environmental impact, need different types of financing than those offered in the traditional financial market. Because most social entrepreneurs work carefully to preserve or restore natural resources and provide fair working conditions for their employees, they often do not see the high level of returns that are expected in the traditional marketplace. As a mission aligned partner, we are able to provide the different types of capital needed by these organization to support their growth in a way that most lenders cannot.

Using the philanthropic funds as guarantees, the lending team is now able to make loans to younger and slightly higher risk organizations that have the potential for great impact, but do not yet meet the financial requirements of our Social Enterprise Lending program. The lending team is also able to recommend charitable grants to non-profit borrowers who need extra support for infrastructure or capacity building. Using these different forms of capital, we’re able to deploy the right form of money, for the right purpose, at the right time for an organization.

A portion of the Local Initiatives Fund has also been designated for the Shared Gifting program. In this model, RSF facilitates a process in which grantees work together to allocate grants to each other. The goal is to move the decision making power of philanthropic funds into the community. The process encourages grantees to collaborate and share resources to meet their collective goals. In 2013, we will lead a Shared Gifting circle in Skagit County, WA.

At this stage, the Local Initiatives Fund is a pilot. We look forward to evaluating and sharing what we have accomplished over the next year.

As we look to the future, we now see more possibilities than ever before for how we can use money in new ways and work with our clients in different capacities to create more impact in the world.

Kelley Buhles is Senior Program Manager of Philanthropic Services at RSF Social Finance.

Moving Social Finance Forward: An Interview with Ted Levinson

September 12, 2013

Ted Levinson, Director of Lending, RSF Social Finance

Ted Levinson, Director of Lending, RSF Social Finance

Originally published on Social Velocity

Interview by Nell Edgington

Nell: RSF Social Finance is really the leader in the social finance market, you’ve been doing this long before anyone started talking about a “social capital marketplace.” Given that long history, how do you view the current state of the social capital market? Are we where we need to be to funnel enough and the right kinds of capital to social change efforts? And if not, how do we get there?

Ted: RSF has a twenty-nine year operating history, but it’s still early days for the field of social finance. The industry is at the same stage of development as natural food stores were thirty years ago – we’re established, we’re growing, we’re doing good work, and yet we’re still considered a fringe movement. I believe we are on the cusp of mainstream acceptance which will mean a much broader audience of impact investors (especially young people and unaccredited investors) and far greater demand for social capital from the growing number of social enterprises that are just now becoming investment-ready.

There’s been a shift in society’s view of natural food stores – we’ve overcome our fear of the bulk bins and now all grocery stores look more like natural food stores. I expect the same thing to happen with our conventional financial institutions which are just now beginning to pay attention to social finance.

What the field really needs is to expand the financial products available to social enterprises and address some of the existing gaps. Frustrated social entrepreneurs may disagree, but I think the angel capital and large-scale venture capital spaces are meeting the needs of for-profits. Incubators, business plan competitions and seed funds are providing modest amounts of funding to emerging non-profits and for-profits. RSF and some of our friends including Nonprofit Finance Fund, Calvert and New Resource Bank are addressing the middle market market.

The big voids in social finance include:

  • True “risk capital” for non-profit social enterprises. We need more foundations willing to place bets on high-potential organizations.
  • Bigger finance players or (better yet) a more robust consortium of social finance organizations that can band together to meet the $5 million + needs of high growth social enterprises such as Evergreen Lodge, Playworks and other organizations that are reaching scale.

I believe the field will get there but we’re playing “catch-up” now and social entrepreneurs are an impatient bunch.

Nell: RSF does something pretty revolutionary in that you combine philanthropic giving with impact investing, whereas these two sides of the social capital marketplace have not yet really found a way to work together in any large scale or significant way. Why do you think that is? And what needs to change in order to encourage foundations and impact investors to work more closely together?

Ted: We call our approach of combining debt and philanthropic dollars “integrated capital,” and we think it’s going to have a profound effect on impact investors, philanthropists and the social enterprises it serves.

Most non-profit social enterprises rely on a combination of earned revenue and gift money. There’s no reason why a single transaction can’t bridge these two forms of capital. With integrated capital we can leverage philanthropic grants or loan guarantees to push high-impact loan prospects from the “just barely declined” category into the “approved” category. In fact, even some for-profit social enterprises are eligible for this. Our loan to EcoScraps – a fast-growing, national, composting business was made possible by a foundation that shared in some of RSF’s risk.

Integrated capital is possible because RSF works with individuals and foundations that have overcome the prevailing view that how you invest your money and how you give are distinct activities. We’re also fortunate to work with an enlightened bunch of people who recognize that philanthropic support for social enterprises isn’t a crutch or a sign of a failed enterprise.

Our work at RSF is driven by a belief that money ought to serve the highest intentions of the human spirit. Conscientiously investing money, giving money and spending money can all further this goal.

Click here to read the full interview

Ted Levinson is Director of Lending at RSF Social Finance

Nell Edgington is President of Social Velocity, a management consulting firm leading nonprofits to greater social impact and financial sustainability. Social Velocity helps nonprofits grow their programs, bring more money in the door, and use resources more effectively.

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