Board of Directors

D. Wayne Silby, Co-Chairman and Finance Committee Chair

Wayne Silby founded Calvert, a $15 billion investment management group in Bethesda, MD, noted for their leadership in the area of socially responsible investment. Though he is no longer active in most of the day-to-day business of Calvert, he serves as President of Calvert Social Investment Fund and supervises its private equity activities. Mr. Silby also co-founded Social Venture Network, a group of socially oriented entrepreneurs and investors, and Calvert Social Venture Partners, one of the first socially oriented venture capital funds. Mr. Silby helped start an Internet company focused on group collaboration, called GroupServe Foundation, which he now chairs. He also started the Emerging Europe Fund for Sustainable Investment, a $60 million OPIC private equity fund focused on Central Europe.

Mr. Silby chairs the China Committee of Grameen Foundation USA, on whose board he also serves, and serves on the board of the Grameen Technology Council, which addresses issues of the "digital divide." He has a BS in Economics from the Wharton School of Finance at the University of Pennsylvania, and a JD from the Georgetown University Law Center.

John G. Guffey, Jr., Co-Chairman; Audit Committee Chair; Acting Investment Committee Chair

John Guffey founded Calvert, a $15 billion investment management group in Bethesda, MD, noted for their leadership in the area of socially responsible investment. He has worked as the Ventures Fund manager for the environmental and health care fields since 1998. Mr. Guffey is an organizer and board member of the Community Capital Bank of NY. He has degrees in Economics and Finance the Wharton school of Finance at the University of Pennsylvania.

Carol Atwood, Advancement Committee Chair

Carol Atwood is founder and President of Spartacus Capital, which provides consulting and advisory services to organizations requiring high level strategic partnerships and fundraising support. Her past projects have covered an array of sectors including: clean tech, emerging markets (with a specific focus on China, West Africa and South America), natural resources and the social media sectors. Ms. Atwood is a successful entrepreneur who is actively involved in creating and participating in socially focused ventures, with a primary focus in alternative energy, emerging markets and social networking. She is a recipient of many awards, including “NYC Entrepreneur of the Year” award, which was sponsored by NASDAQ, Kaufmann Foundation, and Ernst and Young.

Ms. Atwood formerly owned and operated TMG, an international marketing company that developed programs for Fortune 500 companies. In 1997, TMG was named “Company of the Year” by the National Association of Small Business Investment Companies and ranked among the top 100 women-owned businesses by Working Woman magazine, placing between Martha Stewart and Oprah Winfrey. Ms. Atwood also serves on the boards of King Arthur Flour and IW Financial, and on the steering committee of Boston College’s Institute for Responsible Investment.

Ms. Atwood is a member of Investors Circle, the Social Venture Network, Social Venture Partners, and the Social Investment Forum. Ms. Atwood is also passionate about utilizing media for social change and serves on a number of non-profit boards and committees that address this vision such as the Filmmaker’s Collaborative in Boston.

Shari Berenbach

Shari Berenbach’s distinguished 30-year career spans from microfinance to international banking. A pioneer in the impact investing field, Ms. Berenbach served as President and CEO of Calvert Foundation. In nearly 14 years (1997-2010), Ms. Berenbach grew Calvert Foundation from a pilot project to a $500 million institution serving thousands of investors and hundreds of local financial intermediaries in the US and around the globe.

Ms. Berenbach's microfinance work began in the early l980s when she served as Program Director for Partnership for Productivity International. Throughout the l980s, Ms. Berenbach worked with microfinance operations in more than two dozen countries in Africa, Asia and Latin America. In the mid-1990s, Ms. Berenbach was engaged in various consultancies, such as preparing a monograph on banking regulation for microfinance and helping to launch MicroRate.

Ms. Berenbach holds an MBA in Finance from Columbia Business School, an MA in Latin American Studies from UCLA and an undergraduate degree in Political Science from UC Berkeley. Ms. Berenbach serves on the Not-for-Profit Advisory Committee of the Financial Accounting Standards Board, the Finance Committee of the Needmor Fund, and the Board of Directors of the Association for Enterprise Opportunity.

Margaret Clark

Peggy Clark is the Executive Vice President for Policy Programs at the Aspen Institute and the Executive Director of Aspen Global Health and Development in Washington, D.C. From 1991 to 2000, she founded and served as the Executive Director of the Economic Opportunities Program at the Aspen Institute, and received the Presidential Award for Excellence in Microenterprise Development from President Bill Clinton. Prior to Aspen, she served as Co-Chair of the Women's Program Forum at the Ford Foundation. She also served as Program Officer for Women and Employment Grants in the Foundation's Rural Poverty division. From 1985 to 1988, Ms. Clark directed the Small Scale Enterprise at the Save the Children Federation.

Ms. Clark graduated with Honors from Colgate University with a BA in Anthropology and Fine Arts, and she earned her Masters from Johns Hopkins University School of International Studies in International Economics and Latin American Economic Development. She also serves on the board of the Paraprofessional Healthcare Institute in the South Bronx.

Frederick “Bart” Harvey

For over 30 years, Mr. Harvey has been an innovator in providing decent, affordable housing and a path out of poverty for low-income families. As the former Chair and CEO of Enterprise Community Partners, Bart is credited with growing Enterprise’s impact from investing $200 million supporting 5,000 affordable homes annually, to more than $1 billion supporting more than 20,000 homes annually. Bart’s unwavering commitment to providing homes for America’s working families matches Calvert Foundation’s mission, and equips our Board with expertise in an area we have 17 percent of our investment portfolio dedicated to affordable – and sustainable – housing for families that need it most. Along with Enterprise co-founder James Rouse, Bart helped Congress create the Low-Income Housing Tax Credit, which provides financing for the majority of affordable rental homes in the country. He also led Enterprise’s launch of the Green Communities initiative – an unprecedented commitment to sustainable development’s benefits to low-income communities nationwide.

Mary Houghton

Mary Houghton has been a member of the senior management of Shorebank Corporation since its founding in 1973 and is currently president of Shorebank and responsible for expansion management. Shorebank is a regulated bank holding company which invests its own resources and attracts external resources to under-invested urban and rural communities in Illinois, Ohio, Michigan and Washington state. It is the first and largest community development bank in the United States.

Since the early 1980s she did short term advisory work in Bangladesh at Grameen Bank and the Bangladesh Rural Advancement Committee and in Pakistan at the Aga Khan Rural Support Program. Shorebank subsequently has advised banks in Poland, Russia and other ex-Soviet Union nations on lending to small businesses. It expects to be an investor in K-REP Bank in Kenya, BASIX in India and BRAC Bank in Bangladesh.

Ms. Houghton was the senior lender and senior operating officer of the South Shore Bank in Chicago. She was a co-founder of two nonprofit organizations in Chicago formed to meet the economic needs of low and moderate women and serves on the boards of several national and international organizations providing enterprise credit. Her degrees were an M.A. in international studies from Johns Hopkins University and a B.A. cum laude from Marquette University.

Barbara J. Krumsiek

Barbara Krumsiek has been CEO and President of Calvert Investments, Inc. since 1997. Calvert manages over $15 billion in assets across more than 40 mutual funds, including award-winning fixed income portfolios and a full lineup of socially responsible mutual funds. Ms. Krumsiek's career in the investment industry spans three decades. Before coming to Calvert, Ms. Krumsiek was a Managing Director at Alliance Capital Management LP in New York City. At Calvert, she has presided over a period of dramatic growth and increased visibility, both within the socially-responsible investment sector (SRI) and in the financial services industry as a whole. Under her leadership, the firm's sales have grown seven-fold and increasing the firm's presence among individual investors, advisors and the expanding retirement plan including 401(k) plans, has expanded dramatically.

Graduating Phi Beta Kappa with honors from Douglass College, Rutgers University, Ms. Krumsiek received a Bachelor’s degree in mathematics. She received a Master’s degree in mathematics from the Courant Institute of Mathematical Sciences, New York University. In 2000, the Rutgers University Alumni Federation added her to the Hall of Distinguished Alumni, and in that same year, Douglass College and the Associate Alumnae named her to The Douglass Society. In May, 2002 Georgetown University awarded Ms. Krumsiek the Degree of Doctor of Humane Letters, Honoris Causa, citing her work in advancing the critical dialogue regarding the role of business in society.

Ms. Krumsiek, a native New Yorker, resides in Bethesda, Maryland with her husband, Bart Leonard, and their two daughters.

Ira Lieberman

Since 1995, Dr. Lieberman has been deeply involved in the microfinance (MF) sector. He started and managed the Consultative Groups to Assist the Poorest (CGAP) from 1995 to 1999, and from 2003 to 2004, worked as a Senior Economic Advisor to George Soros and the Open Society Institute, building their microfinance capacity in the Balkans. Since 2005, he has served as the Chairman of the Advisory Board of the Emergency Liquidity Fund for Latin America. Dr. Lieberman is also a member of the Council of Microfinance Equity Funds

In addition to his work in microfinance, Dr. Lieberman was responsible for co-managing the World Bank’s global practice on privatization. From 1999 to 2003, he was responsible for the Bank’s private and financial sector activities in Central Asia, Serbia and the Russian Federation.

Prior to the World Bank, Dr. Lieberman worked for some twenty years in private business at Arthur Andersen, managed consulting operations in Western Europe for Touche Ross (now Deloitte & Touche), and served as CFO, Executive Vice President and CEO of ICC Industries Inc.'s manufacturing group.

Dr. Lieberman is currently President of his own consulting and advisory company, LIPAM International, Inc., advising client governments, donor institutions and NGOs in various areas of economic development.

Dr. Lieberman has a BA from Lehigh University, an MBA from Columbia University and a Ph.D. from Oxford University, and has taught courses on structural adjustment at Johns Hopkins School of Advanced International Studies (SAIS).

Terrence J. Mollner

Terrence Mollner is the founder and chair of Massachusetts-based Trusteeship Institute, Inc., an economic and social policy think tank and consulting firm. Dr. Mollner is also a founding member of the board of trustees of the Calvert Family of Socially Responsible Mutual Funds and Calvert Foundation. Mr. Mollner has written numerous articles and is one of a number of authors in two books recently published by Sterling and Stone: New Traditions in Business – Spirit and Leadership in the 21st Century and Community Building – Renewing Spirit and Learning in Business. His next book is entitled The Love Skill: Welcome to the Relationship Age!; it will be published soon. He is also a member of the Board of Ben & Jerry's Homemade, Inc., a founder of CREW Fund, a fellow of the World Business Academy, and a member of the Social Venture Network.

Greg Ratliff

Greg Ratliff is a senior program officer at the Bill & Melinda Gates Foundation in the Postsecondary Success program area spear-heading investigation and research in utilizing social media for enhancing post-secondary students’ success. Greg is a leader in the field of community and economic development and a seasoned advisor to the U.S. philanthropic community.

Prior to joining the foundation, Greg ran a consulting practice focused on strategic planning for innovative business models blending financial and social returns. He advised major foundations and nonprofit organizations from concept through implementation on top level strategic planning, board development and program creation. Greg received a B.A. from UCLA and an MBA from Northeastern University, where he combined graduate work in Urban Studies at MIT.

Kathy Stearns

Kathy Stearns formed Arc Advisers LLC in 2007 after more than 20 years in the community development finance sector to offer financial planning services to individuals, and consulting services to nonprofits and small businesses on how to maximize the benefits of their retirement plans for staff.

From 1997 to 2007 Kathy worked at Opportunity Finance Network where, in various positions, she developed and implemented the first ever rating system for community development financial institutions, served as Chief Financial Officer, managed the organization’s financing activities, and provided training and consulting services to CDFIs.

Prior to working at Opportunity Finance, Kathy worked at ACCION International for 9 years, during which time she managed a microfinance organization in Costa Rica, helped start microfinance programs in the US, and provided training and consulting services to microfinance organizations in Latin America, Asia and Africa.

Ms. Stearns received an MPS from Cornell University and a BA from Duke University.