With the passage of last year’s tax code overhaul, Congress created Opportunity Zones—areas in low-income census tracks designated by governors, where private equity investors can invest capital gains in new development ventures in exchange for tax forgiveness after 10 years. However, now that proposed regulations have been released, speculation remains as to whether Opportunity Zones will catalyze needed community infrastructure and economic development opportunities for the people who are residents and small business owners who live in these Zones.
Part of this new challenge for philanthropy will be working with community development financial institutions. Some foundations have been partnering with community development financial institutions (CDFIs) for decades, others are still getting to know the CDFI industry. This webinar is for foundations that are interested in learning more about what CDFIs are, where they operate, and who they serve. The webinar also explains how and why foundations can work with CDFIs to meet their mutual goals of helping low-income urban, rural, and Native communities throughout the US. Options include grants, PRIs, co-investing in impact deals, and the new Opportunity Funds.
Donna Fabiani, Executive Vice President, Knowledge Sharing, Opportunity Finance Network
Jennifer Vasiloff, Chief External Affairs Officer, Opportunity Finance Network