Reflecting on 2020: Deepening Our Commitment to Mission-Aligned Investing

As we reflect on 2020, we are reminded of both the immense challenges and the opportunities it brought for deepening our commitment to racial justice. This year, more than ever, the Valentine Foundation has been called to align our mission of social change for women and girls with the urgent need to address racial inequities in our community.

A powerful symbol of this moment was Time magazine’s cover featuring George Floyd, an image that captured the world’s attention and became a call to action. That cover reminded us of the deep-seated racism and violence that the Black community faces daily and underscored the need for organizations like ours to do more—much more.

In 2020, the Valentine Foundation took action by joining the Philanthropy Network’s year-long Mission-Aligned Investing cohort. Alongside over ten other foundations, we committed to shifting capital into communities through a racial equity lens. This journey, while just beginning, has already yielded significant results through three new Community Development Financial Institution (CDFI) investments that reflect our dedication to supporting marginalized communities.

Here’s a look at the high-impact projects we added to our MAI portfolio this year:

• Women’s Opportunity Resource Center (WORC)
  In April, in response to COVID-19, we provided a $100,000 interest-free loan to WORC to fund over 30 SBA Paycheck Protection Program (PPP) loans for women and minority-owned small businesses. This critical funding helped stabilize businesses and protect jobs during a time of economic turmoil.

• The Enterprise Center (TEC)
  In June, we invested $50,000 in TEC, a Black-led business incubator and non-extractive lender supporting minority-owned businesses in West Philadelphia. Recognizing the pandemic’s devastating impact, we matched TEC’s terms of 0% interest for the first six months and 1% interest for the remaining 2.5 years, ensuring minority entrepreneurs had the breathing room they needed to sustain their businesses.

• Impact Loan Fund
  In August, we made a $25,000 investment in the Impact Loan Fund, part of a larger collaboration to revitalize the Kensington Corridor, one of Philadelphia’s most economically distressed areas. This partnership, with organizations like Kensington Corridor Trust and Shift Capital, is a critical step toward creating long-term, sustainable economic growth in underserved neighborhoods.

The tragic death of George Floyd, along with the pandemic, has laid bare the systemic racism and inequities that have long existed in our communities. Yet, amidst this heartbreak, we are more determined than ever to use our resources to support projects that advance racial and economic justice.

As we move forward, we remain committed to learning, evolving, and aligning our investments with our values. We invite you to join us on this journey. If you know of projects that align with our mission, please reach out. Together, we can help create the just and equitable world that we envision.