Community Capital Management Announces Winner of 8th Annual Impact Awards

Ft. Lauderdale, FL, December 10, 2024: Community Capital Management, LLC (CCM), a leading fixed income impact investing manager, announced today that a bond issued by Local Initiatives Support Corporation (LISC) is the winner of its 2024 impact awards and will receive a $10,000 donation.

LISC is a nonprofit corporation and a Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury to provide financial products and services for under-resourced communities and populations. As of June 2024, LISC is issuing $250 million of LISC Impact Notes to finance community and economic development across the U.S. and to help revitalize underserved communities, build economic opportunity, and bridge the racial wealth gap.

“We are thrilled that our Impact Notes have won CCM’s 2024 Impact Awards and are honored to be included as a finalist amongst such impactful investment nominees,” said Michael T. Pugh, president and CEO of LISC. “LISC is using bond proceeds for general corporate purposes including as capital for loans made by LISC and consolidated affiliates in support of our organization’s overall mission to support neighborhood and community development organizations.”

“We launched the impact awards in 2017 as a way to showcase the many positive impacts from investments made on behalf of our clients and included a donation of $10,000 to the winning investment or affiliated nonprofit,” said Alyssa Greenspan, chief executive officer and president of CCM. “We are honored to continue showcasing different types of impact investments and how they are positively and directly helping people and communities in need nationwide.”

The four additional finalists have equally impactful stories, including:

The Colorado Housing and Finance Authority taxable municipal bond where proceeds are financing mortgage loans and down payment assistance loans generally made to first-time homebuyers in the state. For loans financed with its proceeds, the first-time homebuyer requirement may be lifted for borrowers who are qualified veterans or who are buying a home in a Targeted Area of the state (Targeted Areas is defined as a census tract in which 70% of households have incomes less than 80% of the statewide median family income or an area of chronic economic distress).
The Los Angeles Unified School District taxable municipal bond where proceeds are financing school facility improvements and projects including information technology enhancements, classroom replacements, modernization updates, energy-efficient upgrades, and the expansion of wellness centers projects in the second-largest public school district in the country.
An agency commercial mortgage-backed security (CMBS) financing Toulon Place, a Low-Income Housing Tax Credit property offering 200 affordable rental housing units in Raleigh, NC. Its construction is the culmination of a multi-year project by Passage Home with help from the city of Raleigh, Wake County, and HUD’s Neighborhood Stabilization Program to buy, consolidate, and redevelop a group of 21 small affordable housing properties that had been neglected.
An agency CMBS financing Yorkville Gardens in New York City, offering 131 affordable rental housing units for seniors. One third of its units are reserved for residents who need an enriched housing program, which provides additional services as an alternative to institutionalization in nursing homes for physically frail elderly people who can no longer live independently. The community is sponsored by New York Foundation for Senior Citizens, Inc., (NYFSC), a nonprofit, non-sectarian social service agency.

“The Ellevest team is proud to see one of our client’s investments as a finalist and winner in CCM’s 2024 Impact Awards. Our unique impact offerings across a range of asset classes help our clients invest for market returns while helping to close the kinds of social and economic gaps the LISC bond addresses.” said Dr. Sylvia Kwan, CFA®, CAIA®, chief investment officer at Ellevest.

To read the full stories for all 2024 impact award finalists, click here.

Community Capital Management, LLC

Founded in 1998, Community Capital Management, LLC (CCM) is an investment adviser registered with the Securities and Exchange Commission. The firm’s mission seeks to deliver superior risk-adjusted returns through investment strategies that contribute to positive environmental and social outcomes. For more information, please visit: www.ccminvests.com.

This material is not considered an endorsement or testimonial of the advisory services of CCM or the advisory experience with CCM or its supervised persons.

Community Capital Management, LLC (CCM) is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. The verbal and written communications of an investment adviser provide you with information you need to determine whether to hire or retain the adviser. Past performance is not indicative of future results. CCM has distinct investment processes and procedures relating to the management of investment portfolios for institutional clients. The firm’s strategies are customized, rather than model-based, and utilize an innovative approach to fixed income by combining the positive societal outcomes of impact and environmental, social, and governance (ESG) investing with rigorous financial analysis, an inherent focus on risk management, and transparent research. Bonds are subject to interest rate risk and will decline in value as interest rates rise. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client’s investment portfolio. A sustainable investment strategy that incorporates ESG criteria may result in lower or higher returns than an investment strategy that does not include such criteria. Impact figures mentioned are approximate values. Opinions, estimates, forecasts, and statements of market trends are based on current market conditions and are subject to change without notice. Third party links, trademarks, service marks, logos and trade names included in this content are the property of their respective owners. The inclusion of a third party link is provided for reference and does not imply an endorsement or, association with, or adoption of the site or party by us. Acceptance of this material constitutes your acknowledgement and agreement that the Advisor does not make any express or implied representation or warranty as to the accuracy or completeness of the information contained herein and shall have no liability to the recipient or its representatives relating to or arising from the use of the information contained herein or any omissions there from. Any of the securities identified and described herein are for illustrative purposes only. Their selection was based upon nonperformance-based objective criteria, including, but not limited to, the security’s social and/or environmental attributes. It should not be assumed that the recommendations made in the future will be profitable or will equal the performance of the securities identified. Impact figures mentioned are approximate values. For a full list of relevant disclosures, please visit https://www.ccminvests.com/regulatory-disclosures/

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