Everence Community Investments first to commit funds for economic redevelopment initiative
In the aftermath of Hurricane Sandy, Everence Community Investments is investing $500,000 through the Isaiah Fund to provide capital for long-term redevelopment needs in communities ravaged by the storm.
Founded by Everence Community Investments and five other faith-based investor organizations, the Isaiah Fund is dedicated to investing in communities devastated by disaster. Following Hurricanes Katrina and Rita in 2005, the Isaiah Fund raised and/or invested $5 million and made more than $3 million in community development deposits and loans throughout the Gulf Coast, focusing on low-income neighborhoods in New Orleans. Since then, the Isaiah Fund has begun to turn its attention to other regions of the country impacted by disasters.
Hurricane Sandy, which hit the east coast of the United States in late October 2012, caused tens of billions of dollars in damage. According to the Center for Disaster Philanthropy, the storm caused an estimated $50 billion in losses, putting it as one of the worst natural disasters ever to occur in the United States.
“As people of faith, we are compelled to help our neighbors in times of need,” said Mark Regier, Everence Director of Stewardship Investing. “While addressing immediate human needs after a disaster is critical, it is often long-term economic development that ensures a bright future for already disadvantaged communities. That’s why investment in The Isaiah Fund made by Everence Community Investments and others are so important.”
Everence Community Investments seeks innovative ways to channel investment dollars to underserved communities across the country and around the world. These community development investments provide support for projects such as neighborhood revitalization, low-income housing, church construction, microfinance and ecological enterprises.
Everence provides opportunities for individuals to participate in community development investments, through various Everence products and services, such as:
• The Everence OneWorld Community Investment Program, which creates economic opportunities for those in need through international microfinance and/or faith-based community development in the U.S.
• Praxis Mutual Funds, a family of socially responsible mutual funds (advised by Everence Capital Management) that has channeled more than $10 million to community development investments.
• Church Extension Services, which provides loans to emerging congregations in the U.S. and abroad, thanks to member investments.
• The Deka Fund, a way to give charitable donations that unlock additional Everence Community Investment funds by a factor of 10. (Every $10 donated enables $100 in new community investments.)
“Investors can create positive social impact and potentially earn a modest return by investing in communities,” Regier adds. “Everence Community Investments gives us the opportunity to make an impact through our investments – and build a better world in the process.”
About Everence
Everence helps individuals, organizations and congregations integrate finances with faith through a national team of advisors and representatives. Everence offers banking, insurance and financial services with community benefits and stewardship education. To learn more, visit www.everence.com or call (800) 348-7468.
Consider the Praxis Mutual Funds’ investment objectives, risks and charges and expenses carefully before you invest. The fund’s prospectus and summary prospectus contains this and other information. Call (800) 977-2947 or visit www.praxismutualfunds.com for a prospectus, which you should read carefully before you invest. Praxis Mutual Funds are advised by Everence Capital Management and distributed through FINRA member BHIL Distributors Inc. Investment products offered are not FDIC insured, may lose value and have no bank guarantee.
