FOR IMMEDIATE RELEASE

Press Contact: Carrie Hutchison, 301.280.6003, carrie.hutchison@calvertfoundation.org

Calvert Foundation advances organizational and industry growth through new organizations Community Investment Partners and ImpactAssets

Bethesda, MD – June 2, 2011 – Calvert Foundation has recently announced organizational changes that further its mission of making it possible for people to invest in low-income communities and empower people around the world to grow, build, and succeed.

Calvert Foundation recently named Jesse Chancellor the new president of its wholly-owned subsidiary Community Investment Partners (CIP), which provides investment advisory and back-office services specifically tailored to the social and impact investment industry, and is a Registered Investment Advisor.

Also, building upon more than a decade of success with its philanthropic donor-advised fund program called the Giving Fund, Calvert Foundation has helped establish a new organization called ImpactAssets, which is headed by its President, Tim Freundlich, a long-time member of Calvert Foundation’s senior executive team. ImpactAssets is a nonprofit financial services company created to help solve the world's toughest problems by catalyzing investment capital for maximum environmental, social and financial impact. The organization hopes to increase the amount of capital flowing to high impact social and environmental enterprises.

“Calvert Foundation has a long history of collaborating and partnering with others,” said Lisa Hall, President and CEO of Calvert Foundation. “We expect ImpactAssets to have a significant impact in the world of social and environmental investing and we are delighted to be their partner,” she said. ImpactAssets shares Calvert Foundation's goal of using invested capital to solve the world's most intractable problems, and manages donor advised fund assets of roughly $60 million.

Calvert Foundation’s subsidiary CIP will provide administrative services to ImpactAssets. CIP draws upon the expertise of Calvert Foundation, which has over 15 years of experience raising capital and managing an investment portfolio that helps create jobs and alleviate poverty in all 50 U.S. states and the District of Columbia, and in over 100 countries around the world.

Though new in his role as President of CIP, Mr. Chancellor has been with Calvert Foundation since 2007, during which time he grew the CIP division of Calvert Foundation from a small team working on a portfolio of about $40 million in assets under management to a separate subsidiary now serving over twenty clients and overseeing a portfolio of services with over $170 million in assets.

“We are so pleased to have Jesse leading Community Investment Partners,” said Ms. Hall. “The goal of this subsidiary is to help further the industry for community investing. We achieve this objective by helping other organizations that are seeking to channel capital to underserved communities.”

Mr. Chancellor has been active in community development and affordable housing finance for over 25 years. Prior to joining Calvert Foundation, he was a Principal at Prudential Mortgage Capital Company, where he created and managed the Affordable Housing Investments Group, which became a major provider of capital to the industry, originating over $500 million in debt products annually. Before that, he worked at MuniMae as a Senior Vice President, responsible for originating tax-exempt multifamily bonds on a national basis. Mr. Chancellor has also held posts with The Enterprise Foundation and Citicorp Real Estate. He received his bachelor’s degree in history from Washington University in St. Louis, his MA in Public Policy Administration from the University of Missouri-St. Louis and a MS in Real Estate Development from Columbia University.

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About Calvert Foundation: Calvert Foundation is a nonprofit organization that provides the opportunity for investors to achieve financial returns while empowering people living in low-income communities in the United States and around the world. Calvert Foundation believes in creating a win-win, improving both the lives of those who receive investment dollars and the lives of our investors. A pioneer in the social impact investment field, Calvert Foundation investors have helped to create over 528,000 jobs for low-income individuals, built or rehabilitated 19,000 affordable homes, and financed close to 27,000 nonprofit facilities and social enterprises through their investment in Calvert Foundation’s Community Investment Note. Learn more at www.calvertfoundation.org.

EDITOR’S NOTE: Calvert Foundation is a separate entity from Calvert Investments, Inc. and its products should not be confused with any Calvert Group-sponsored investment product. In order to avoid confusion and be consistent when referring to Calvert Foundation in print news stories, always use “Calvert Foundation” as opposed to “Calvert” in headlines and subheads.

About Community Investment Partners: Community Investment Partners (CIP) provides investment advisory and back-office services specifically tailored to the social and community investment industry. The majority of our investment advice concerns private transactions — such as loans, CDs or other investments — with community or economic development-related organizations such as community development financial institutions (CDFIs), microfinance institutions (MFIs), affordable housing organizations and social enterprises. CIP is registered with the SEC as a Registered Investment Advisor. Learn more at www.communityinvestmentpartners.com.