United States of America
Last updated 7 August 2020, by Impactyield.
Offers short-term investment notes at a near-market rate of interest to accredited investors for a fixed annualized return. 100% of proceeds are invested in New York City organizations working for low income people and communities.
Based on the concept that private investors would be willing to invest their capital in local NYC neighborhoods while also receiving a financing return if there was a simple, low risk way to do it.
Senior Investment notes are offered twice a year in September and March with a term of either 6 or 12 months with automatic rollover.
Contact Fund is open to accredited individual investors, foundations, and donor advised funds.
Equal rights to ownership basic services technology and economic resources
Safe and affordable housing
Promote policies to support job creation and growing enterprises
Develop sustainable, resilient and inclusive infrastructures
Increase access to financial services and markets
Key performance indicators
Funds Leveraged for Affordable Housing
Asset manager: Contact Fund
Product track record: Fund has 18 years of track record
Target IRR: 2.5%
Committed Capital: 5,000,000 USD (US Dollar)
Target return category: Below risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - post first close
Inception year: 2005
Vintage year: n.a.
Target close date: n.a.
Product term: 1 year
Assets under management: 8,000,000 USD (US Dollar)
Investment size: Min: 25,000; Max: 500,000; Avg: 250,000
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 27
Fund investments to date exited or repaid: 11
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Family Office
Phone number: 212-209-3877
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|Housing and Micro-lending|
|Investments in Housing & Micro-lenders||n.a.||$350,000|
|# of Micro-loans||n.a||40|
|Investments in Affordable Housing Developers||n.a.||$250,000|
|Affordable housing units created||n.a.||24|
|Social Enterprises Investments|
|Investments in Social Enterprises||n.a.||$250,000|
|Average growth in revenue (y/y)||n.a.||9.5%|
|Working Capital Investments|
|Investments in Working Capital||n.a.||$250,000|
|Average net asset growth (y/y)||n.a.||15%|
Contact Fund invests in nonprofit organizations and social enterprises in the 5 boroughs of New York City that create affordable housing and community facilities, provide training and capital to small businesses and strengthen the fabric of communities of under-served and under-privileged populations. The capital frees up the capacity of local organizations to focus on their mission-related work.
|Impact Metrics Disclosure||Yes|
|Impact Targets Disclosure||No|
|Signatory of the Operating Principles for Impact Management||No|
|Independent Impact Management Verification||No|
affordable housingaffordable housing; social housing;business educationCommunity Investing/LocalMicro-financemicrocreditMicrofinanceMinorities/Previously Excluded Populationsserve poorSMESME FinanceSMEssocial enterpriseSocial EnterprisesUnderserved communitiesUrbanWorking capital