From Investing in What Works for America's Communities
Saying that CDFIs have a promising future role because of their expertise, discipline, innovation, pragmatic idealism and patience, Pinsky focuses on whether they (and others in the field) will be able to build that into a brand that is more attractive to partners, investors, funders and policy makers than "community development," which he asserts has a connotation of being government-driven and ineffective. Recounting the work that led to the rebranding of Opportunity Finance Network, Pinsky says the CDFI brand should be built around the industry’s ability to find "Solution," and to do it through organizations that are profitable, but not profit-seeking; independent and private but mission-driven; measure success by both financial results and impact; and hold themselves accountable to funders, beneficiaries, investors and the communities in which they work.
Author: Mark A. Pinsky, Opportunity Finance Network
Date of Publication: August, 2012
Last Updated: August, 2012