Offering one of the most advanced impact investing programs among community foundations, The Greater Cincinnati Foundation uses a model of direct investing in deals selected by the foundation, with donors invited to invest alongside the foundation. Among its deals, the foundation has invested $500,000 to seed a patient capital loan fund for a minority business accelerator; $500,000 in gap financing for commercial and residential real estate; and $1 million in a predevelopment loan fund for supportive housing for homeless women. The foundation board has authorized up to $10 million for impact investments, which is 10 percent of unrestricted assets. Two dozen donors have elected to participate in seven of the deals vetted since 2011, putting in roughly 20 percent of the capital. To conduct due diligence, oversight, and reporting, the foundation hired Imprint Capital Advisors. It has also allocated discretionary funds to nonprofits and CDFIs so they can build capacity to take on loans.