The FM Area Foundation has put $1.2 million back into the Fargo-Moorhead area by investing in local projects focused on creating a vibrant community.
The Foundation is offering Mission Related Investments (MRI’s) as a way to leverage more of its assets for good right here in Cass and Clay counties. MRI’s are below-market loans with the purpose of financing a variety of local projects that generate both a social and financial return. Once funds are returned to the Foundation, new investments can be made into the community.
The following organizations have secured funding through the FM Area Foundation’s MRI program to help carry out their mission:
- Emerging Prairie
A $200,000 loan is providing capital improvement dollars needed by Emerging Prairie to enhance the Prairie Den, a professional co-working space available for local entrepreneurs.
- Lakes & Prairies Community Action Partnership
A $100,000 loan helped complete Lakes & Prairies’ down payment for a new office in south Moorhead, which now houses two full-day, full-year Head Start classrooms, Child Care Aware staff and additional outreach and self-sufficiency services.
- Rebuilding Together
A $600,000 loan to Rebuilding Together allowed their organization to build two twin homes that will provide affordable housing options in Fargo.
- Soul Solutions Recovery Center
A $300,000 guaranty is helping Soul Solutions secure a five-year lease with Alliance Property Group. Soul Solutions is a new nonprofit that will provide outpatient chemical dependency services to people in Fargo and the surrounding area.
“Our local impact investing program represents a new and exciting opportunity to provide meaningful support to our community nonprofits in a different manner than a traditional grant. Our nonprofits are doing great work but sometimes lack the capacity to attract traditional financial support. We want to help fill the gap between hopes and reality by coming alongside our nonprofits to make a difference locally,” said Eric Wilkie, Executive Director.
MRI to Lakes & Prairies Helps Provide Additional Services to Low-Income Families
“Access to high quality early childhood education is simply unattainable for far too many families in our community. Long waiting lists and high costs prevent the most disadvantaged children from receiving a high-quality early childhood education. Given that the highest rate of return in early childhood education comes from investing in disadvantaged children ages birth to five, it's time to invest in our future. W…Continue Reading
"We want to help fill the gap between hopes and reality by coming alongside our nonprofits to make a difference locally,” --Eric Wilkie, Executive Director.