The Guarantees Working Group, launched in Spring 2016, explored the opportunities and challenges of structuring guarantees at scale in the context of urban-based U.S. community investing.
As a field-building organization dedicated to scaling the impact investing industry, the GIIN is committed to working with impact investors to address market and practice-oriented challenges by facilitating dialogue, action, and the development of new products and market infrastructure. Among the GIIN’s product development initiatives, the Guarantees Working Group engaged nearly two dozen GIIN member organizations to tackle the main barriers preventing the wider application of guarantees to attract much needed capital into community development sectors. The Working Group was complemented by a study led by the GIIN’s Research Team, which ran in parallel to Working Group activities. The Working Group served as a testing ground for research scope and findings, which culminated in an issue brief launched in April 2017, Scaling the Use of Guarantees in U.S. Community Investing.
The Guarantees Working Group engaged in a series of activities to scale the use of guarantees in the U.S. community investing market. Through quarterly convenings, the group identified key barriers preventing wider deployment of guarantees, including the lack of standardization in structuring guarantee-backed deals and frequent misalignment or misunderstanding of motivations among stakeholders. To address these barriers, the Working Group pursued the following activities:
Members of the Guarantees Working Group included:
Annie E. Casey Foundation
The California Endowment
Community Investment Management LLC
Enterprise Community Partners
Gary Community Investments
Impact Community Capital
J.P. Morgan Chase & Co.
John D. and Catherine T. MacArthur Foundation
The Kresge Foundation*
Nonprofit Finance Fund
Orrick, Herrington & Sutcliffe LLP
Overseas Private Investment Corporation (OPIC)
Virginia Community Capital
W.K. Kellogg Foundation
*We are grateful to The Kresge Foundation for their support of both the Guarantees Working Group and parallel research study, Scaling the Use of Guarantees in U.S. Community Investing.
For more information on the GIIN Guarantees Working Group, please contact the Membership Team at email@example.com.