As part of a new $325-million JP Morgan Chase initiative, two Foundation-backed Community Development Financial Institutions (CDFIs) — Philadelphia-based The Reinvestment Fund and San Francisco-based Low Income Investment Fund — will receive grants and access to $175 million in new low-cost debt to finance top-performing charter schools. This funding, and similar, recent commitments from Goldman Sachs and Citigroup, will deliver more than $800 million in new private sector capital to leading CDFIs across the nation. Since 1986, the Foundation has been a leading supporter of CDFIs, providing $250 million in grant and program-related investment support.
Community & Economic Development
The Foundation supports prevention of youth violence and the use of information technology to enhance governance, the social sector, and quality of life. MacArthur is exploring new ways to understand the challenges faced by cities around the world, and how to plan, manage, and govern to address them.