Calvert Foundation was founded in 1988 as a 501(c)3 when Calvert Investments found strong interest among its clients to invest directly in underserved communities.

We began our lending program in 1995, raising $483,860 from 170 investors through Community Investment Notes.

Today, Calvert Foundation has more than $180 million invested in roughly 200 nonprofits and social enterprises working in approximately 80 countries. Our portfolio partners are a diversified mix of high-impact organizations working in affordable housing development, microfinance, women's empowerment, fair trade and sustainable agriculture, small business development, and financial services.

Learn more about Calvert Foundation's impact.

Culture of Innovation

Powered by a spirit of innovation, we've created a number of firsts in impact investing:

  • Created the Community Investment Note — the first impact investment available to everyday investors
  • Offered the CI Note online on MicroPlace for as little as $20
  • Developed relationships with financial advisors to offer the Note through traditional brokerage accounts
  • Contributed to the Gateways for Impact research, demonstrating $650 billion in market potential for sustainable and impact investments
  • Developed industry-leading practices for reducing investment risk
  • Incubated the first Donor-Advised Fund to incorporate impact investing, which eventually became ImpactAssets
  • Created the only impact investment that enables everyday investors to invest in women

We've also been innovative in how we invest in organizations. Our portfolio partners trust us to provide affordable, flexible, and patient community development financing, and we continue to find innovative ways to work with them towards their goals.

Looking ahead

Investors are increasingly using their portfolios to create positive change. We will continue to support them by offering investments in specific issue areas, such as the Women Investing in Women Initiative (WIN-WIN) Note.

WIN_WIN_RGB_2inchesInvestments like our Women Investing in Women Initiative Note offer investors a way to invest in the causes that inspire them.

Through our wholly owned subsidiary Community Investment Partners, we also help institutional and accredited clients manage their portfolios for impact.

From supporting affordable housing development to promoting environmental stewardship, our vision is that any investor can take a financial stake in supporting the causes and communities they care about.


7315 Wisconsin Avenue  |  Suite 1000W  |  Bethesda, MD 20814
Phone: 800.248.0337  |  Fax: 301.280.6060  info@calvertfoundation.org