A New Anchor Mission for a New Century: Community foundations deploying all resources to build community wealth

A New Anchor Mission for a New Century: Community foundations deploying all resources to build community wealth

Marjorie Kelly
Violeta Duncan
November 17 2014

It was in 2005 that the highly regarded Monitor Institute report declared that the field of community foundations was “On the Brink of New Promise,” and in the decade since, there have been countless working groups and initiatives to introduce innovative approaches to the field. At the same time, largely beneath the radar, a small but growing group has begun pursuing the innovative path we explore here. Mostly in small steps—but sometimes in larger ways—they are adopting elements of what could emerge as a new anchor mission to deploy all resources to build community wealth.

Why are these community foundations moving in this direction? What exactly are they doing? To find the answer, we examined a representative group of 30 innovative community foundations, of varying sizes, in various stages of development. For some, the shift involves a focus on catalyzing economic development. This generally involves a move beyond simply disbursing grants toward a leadership or catalytic role, proactively shaping initiatives, and using grantmaking in partnership with approaches like convening, piloting projects, and influencing policy. Others are rethinking how they use their assets and are experimenting with impact investing, which we define here as making investments that seek both financial return and social impact. In the process, these foundations are sometimes engaging donors and other investors around how they make investments. Some foundations examined here are doing both economic development and impact investing.

Through on-the-ground stories, this report examines the motives guiding this work, as well as the benefits, barriers, strategies employed, and steps involved in getting started. We share thoughts from leaders in the field on how this work might best evolve over time, and highlight the trailblazing work of 30 representative community foundations—the "Innovative 30."

The Innovative 30:

Community foundations leading the way towards a new anchor mission

Amarillo Area Foundation

Leading the Panhandle Prosperity Initiative

Arizona Community Foundation

Facilitating and funding loans for community development

Arkansas Community Foundation

Taking steps to invest in the local economy

The Boston Foundation

Investing in affordable housing and workforce development

California Community Foundation

Supporting CDFIs and making micro-business loans

The Chicago Community Trust

Accelerating the local food system and strengthening the local economy

The Cleveland Foundation

Leading the Greater University Circle Initiative and launching green worker cooperatives

The Community Foundation for Greater Atlanta

Leveraging anchor institutions for community economic development

Community Foundation for Greater Buffalo

Greening homes and creating jobs

The Community Foundation for the National Capital Region

Exploring a regional wealth building initiative

The Community Foundation for Northeast Florida

Supporting affordable housing and community economic development

The Denver Foundation

Catalyzing cooperatives, social enterprise, and employee ownership

Edmonton Community Foundation

Financing social enterprise and affordable housing

Grand Rapids Community Foundation

Fighting back against the foreclosure crisis

The Greater Cincinnati Foundation

Advancing place-based impact investing

The Greater Kanawha Valley Foundation

Committing to proactively build community wealth

The Greater Tacoma Community Foundation

Incorporating local impact investing into its endowment strategy

Incourage Community Foundation

Responding to local needs with a path-breaking commitment to impact investing

Initiative Foundation

Creating and retaining jobs

Maine Community Foundation

Investing for impact in the local food system

New Hampshire Charitable Foundation

Pioneering support for CDFIs

The New York Community Trust

Supporting community nonprofits, participatory budgeting, and more

Oregon Community Foundation

Making investments in a stronger local economy

The San Francisco Foundation

Creating pathways for local investing and job creation

Santa Fe Community Foundation

Piloting impact investing and funding community wealth building

The Seattle Foundation

Investing in sustainability, small business, and affordable housing

Telluride Foundation

Accelerating and supporting local economic development

Vermont Community Foundation

Pooling assets for local investment and economic development

West Central Initiative

Directing and supporting regional economic planning to build community wealth

Whatcom Community Foundation

Building a healthier local food system

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How Community Foundations Can Accelerate Social Change

“The world has changed, and so must we.” – Clara Miller of The F.B. Heron Foundation

Originally published at Veris Wealth Partners

Clara’s right.

The time is now for community foundations to embrace a new vision that accelerates social progress and rebuilds local wealth. Read more about How Community Foundations Can Accelerate Social Change...

Webinar: Learn how community foundations are building community wealth

December 4th, 2014

Marjorie Kelly and Violeta Duncan present and discuss the findings of their new Democracy Collaborative report, A New Anchor Mission for a New Century: Community foundations deploying all resources to build community wealth, with experts from the field.


  • Marjorie Kelly, Senior Fellow and Director of Special Projects, The Democracy Collaborative 
  • Violeta Duncan, Community Development Associate, The Democracy Collaborative 
  • Sandy Wiggins, Principal, Consilience, LLC; Chair, Business Alliance for Local Living Economies (BALLE); and Senior Advisor, RSF Social Finance 
  • Patrick Horvath, Director of Economic Opportunity, Director of Strengthening Neighborhoods, The Denver Foundation 
  • Stuart Comstock-Gay, President & CEO, Vermont Community Foundation
  • Robert Killins Jr., Program Director - Vibrant Places, The Greater Cincinnati Foundation 
Read more about Webinar: Learn how community foundations are building community wealth...

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The Cascadia Foodshed Funding Project offers a model that is critical not only to the development of good funding, but also to the development of a social and financial infrastructure to grow any local economy.

Associated Grant Makers: Community Foundation Roundtable

January 14th, 2015
Greater Worcester Community Foundation, 370 Main Street, #650, Worcester, MA 01608

Senior Fellow Marjorie Kelly will be speaking at the Greater Worcester Community Foundation presenting: A New Anchor Mission for a New Century, Community foundations deploying all resources to build community wealth as part of the Associated Grant Makers' Community Foundation Roundtable series. Read more about Associated Grant Makers: Community Foundation Roundtable...

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