Impact(ed)

Kim Lyle of Dorchester Bay Economic Development Corporation joins the pod this week to talk about the importance and impact of community development finance. She shares her love for building things that don’t yet exist, passion to get money to people out there who hustle, and why green lending hits all of DBEDC’s impact areas. 

Editor’s Note: Since the time of this recording, the current administration has proposed a budget bill  that would have a significantly negative impact on the availability and flow of IRA funds. At the time of this post, the bill has passed the Senate but would need to be confirmed by the Senate before going into effect.

Timestamps:

• 00:00 Introduction to CDFIs and Their Impact
• 02:54 The Role of CDFIs in Economic Equity
• 05:58 Challenges Facing CDFIs Today
• 09:06 The Inflation Reduction Act and CDFIs
• 11:59 Kim Lyle's Journey to Dorchester Bay
• 15:09 Dorchester Bay's Mission and Operations
• 17:52 Innovations in Green Lending
• 21:05 Advice for Future Generations
• 23:52 The Importance of Nonlinear Career Paths

Links:

• Kim’s Linkedin
• Dorchester Bay’s website 
• Eric’s Linkedin
• Lucas’ Linkedin

Smit Naik of Sorenson Impact Institute joined the pod last fall to talk about his previous work at Gary Community Ventures, where he served as its Director of Impact Investing. We talked about the importance of deploying the right capital, at the right time, for the right purpose; how philanthropies leave so much potential impact on the table; and why even investors should approach their work with human-centered design. Smit’s new title is Managing Director of Impact Investing at the Sorenson Impact Institute where he oversees their early-stage venture capital investment strategy.

Timestamps:

• 00:00 Bridging the Gap: Understanding Community Needs
• 01:06 Smitt Naik's Journey into Impact Investing
• 02:21 The Role of Listening in Impact Investing
• 04:46 Gary Community Ventures: A Theory of Change
• 09:00 Innovative Approaches to Community Investment
• 12:06 MySpark: Empowering Youth through Financial Choice
• 15:39 The Unique Approach of Gary Community Ventures
• 19:01 Innovating Foundations: Moving Wealth and Power
• 20:28 A Day in the Life of an Impact Investor
• 23:41 Advice for Future Impact Investors

Links:

• Smit’s Linkedin
• Sorenson Impact Institute website
• Gary Community Ventures website
• Eric’s Linkedin
• Lucas’ Linkedin

Joanna Kuang and Leila Mengesha of Illumen Capital join the pod this week to talk about how their lived experiences brought them to investing and impact measurement, the risks that could come from not managing impact, and how these types of roles barely existed a few years ago.

Timestamps:

• 00:00 Introduction to Impact Measurement and Management
• 06:37 The Evolution of Impact Measurement and Management
• 12:09 Personal Journeys into Impact Investing
• 20:47 Illumen Capital's Approach to Impact Investing
• 28:41 Challenges and Opportunities in Impact Measurement
• 36:57 Advice for Aspiring Impact Investors

Links:

• Joanna’s ⁠Linkedin⁠
• Leila’s ⁠Linkedin⁠
• Illumen Capital’s ⁠website⁠
• Eric’s ⁠Linkedin⁠
• Lucas’ ⁠Linkedin

Joanna Kuang and Leila Mengesha of Illumen Capital join the pod this week to talk about how their lived experiences brought them to investing and impact measurement, the risks that could come from not managing impact, and how these types of roles barely existed a few years ago.

Links:

• Joanna’s Linkedin
• Leila’s Linkedin
• Illumen Capital’s website
• Eric’s Linkedin
• Lucas’ Linkedin

Eric and Lucas are joined for conversation with Erin Sietstra from Hopelab a researcher, investor, and convener that supports equity-centered solutions for the mental health and well-being of Brown, Black, and Queer young people. Erin, rightly points out that in a world with more diverse checkwriters you don’t need to convince investors that an issue like black maternal health is a pressing problem that needs to be solved. Tune in to hear about her work as Head of Investments at Hopelab.

Timestamps:

• 00:00 Understanding Youth Mental Health and Access to Care

• 01:04 Impact Venture Capital vs Traditional VC

• 03:37 Hope Lab's Mission and Theory of Change

• 07:11 The Role of Corporate Venture Capital

• 09:07 Innovative Solutions for Youth Mental Health

• 14:27 A Day in the Life of an Impact Investor

• 26:09 Building Relationships in Investing

• 32:55 The Power of Lived Experience in Founders

Links:

Todd Leverette from Apis & Heritage sits with us to talk about his circuitous path from Wall Street to financing Worker-Ownership with Private Credit and how, when he looks back on his career, much like Common’s third album “One Day It’ll All Make Sense.”

• 00:00 Introduction to Employee Ownership and Buyouts
• 04:47 The Case for Employee Ownership
• 10:57 Knowledge Sharing in Employee-Owned Companies
• 13:33 Apis and Heritage: A New Model for Buyouts
• 19:55 Engaging Workers in the Buyout Process
• 25:52 The Impact of Employee Ownership on Company Culture
• 30:03 Real-World Examples of Successful Transitions
• 34:14 Advice for the Next Generation of Impact Investors

Lucas Turner-Owens and Eric Horvath, co-founders and co-hosts of Impact(ed), kick off Season 2 with their longtime friend and colleague Rodney Foxworth (Worthmore), to talk a bit about their non-linear career paths, advice they would give their younger selves, and how moving capital can always be an expression of values.

• 01:43 Lucas's Path to Purpose and Impact
• 6:18 Eric's Journey from Education to Impact Investing
• 14:14 How Rodney, Eric, and Lucas Met
• 17:20 The Multi-faceted Work Eric is Doing Today
• 19:50 The Work Lucas is Doing Today and How Investing Can Be an Expression of Values
• 27:19 Advice for the Next Generation and Closing Thoughts

Season 2 of Impact(ed) is coming soon. Here's what to expect!

The investment advisory industry manages trillions and trillions of client assets, for individuals and institutions, to support their financial objectives. Increasingly, thanks to the rise of sustainable finance, impact investing and the great generational wealth transfer, more and more clients are adding social impact goals alongside their financial ones.

Join us and guest Ellen Chiu (Westfuller Advisors) to learn about how her progressive values brought her to her current role in the investment advisory industry, the relationship and reciprocity firms like hers have with their clients, and why impact measurement’s something she’s so excited about.

All views expressed by our guest are her own and do not necessarily express the views of Westfuller Advisors.

Demystifying Industry Jargon: RIA, CFA, portfolio management, OCIO, impact measurement, IPS

Impact(ed) is written, recorded and produced by its two co-hosts, Eric Horvath and Lucas Turner-Owens. Please connect with us on Linkedin, we’d love to hear your thoughts on this episode, your recommendations for future topics and guests, and be in community with you.

Original Music by Lucas Turner-Owens.

Community Lending, whether at Community Development Financial Institutions (CDFIs) or elsewhere, supports economic opportunity in low and moderate income communities across the country. With borrowers' best interests at heart, community lending provides consumer loans to individuals, working capital to small businesses and funds to support community-oriented real estate projects like affordable housing.

Join us and guests Ana Ramos (Common Future) and Jocelyn Velazquez (IFF) to learn about how their cultures and families influence their work and the importance of empathy and intersectionality when considering their roles as community lenders.

All views expressed by our guest are her own and do not necessarily express the views of Common Future or IFF.

Demystifying Industry Jargon: redlining, Community Reinvestment Act (CRA), ShoreBank, CDFI Fund 

Impact(ed) is written, recorded and produced by its two co-hosts, Eric Horvath and Lucas Turner-Owens. Please connect with us on Linkedin, we’d love to hear your thoughts on this episode, your recommendations for future topics and guests, and be in community with you.

Graphic Design by Ann Van. Original Music by Lucas Turner-Owens.