Scaling the Power of Guarantees

Join Philanthropy California to discuss the use of guarantees in impact investing and learn more about the Community Investment Guarantee Pool (CIGP).

Financial guarantees are an evolving tool for philanthropies looking to back mission-aligned projects normally beyond the scope of traditional finance. How can foundations leverage their balance sheets to accelerate community investments?

The Community Investment Guarantee Pool (CIGP) is a first of its kind platform allowing guarantors to combine resources and expertise by establishing a single, one-stop-shop for intermediary lenders in the climate, affordable housing, and small business sectors. Together, this group is making more and new types of community development transactions feasible by putting more of their assets to work in service of greater community impact.

Join us to explore guarantees as a type of credit-enhancement tool and one way that different types of capital can work together to develop attractive deals and create larger impact.

Target Audience

This program is open to members and non-members of Catalyst, Northern California Grantmakers, and Southern California Grantmakers.

If you require any accommodations to fully participate in this program, please contact [email protected].

Speakers

Rosa Benitez, Director of Program Investments, Weingart Foundation

Rosa Benitez joined the Weingart Foundation in 2008 as a Program Officer and is currently Director of Program Investments. She possesses more than a decade of experience working in both the public and nonprofit sectors. Prior to joining the Foundation, Rosa served as a Program Officer at the California Community Foundation, where she managed its grantmaking portfolio in the area of housing. She holds a master’s degree in public administration and a bachelor’s degree in political science from California State University, Los Angeles.

Ruby Bolaria, Director, Housing Affordability Initiative, Chan Zuckerberg Initiative

Ruby Bolaria Shifrin is Director of the Housing Affordability program at the Chan Zuckerberg Initiative (CZI). CZI is dedicated to finding solutions that make housing more affordable so people from all backgrounds and income levels can live, work, and thrive in California. Prior to CZI, Ruby worked in real estate development as a project manager for multifamily mixed income projects in San Francisco and has experience in commercial real estate. She also worked internationally at the Housing Department in Johannesburg, South Africa where she managed an in-situ upgrading pilot project. She started her career as an organizer for environmental and social justice organizations like Earthjustice and Corporate Accountability International. Ruby has a strong commitment to equity and social justice and brings her unique mix of advocacy and technical experience to CZI’s housing work. She holds a BA in Politics from the University of California, Santa Cruz and a Master of Urban and Regional Planning from the University of California, Los Angeles.

Thomas De Simone, President & CEO, Genesis LA

Tom De Simone has served as President & CEO since 2013 and is responsible for overseeing Genesis LA’s operations and managing business activities. Tom has sourced, structured and/or closed more than $350 million in direct CDFI lending and New Markets Tax Credit (NMTC) investments for Genesis LA. He has helped to grow Genesis LA’s capital resources and raised over $55 million in new debt and equity capital for CDFI lending as well as $190 million in NMTC financing. Tom has also spearheaded several innovative investment programs and partnerships that have helped Genesis LA to become a unique financing entity in the Los Angeles community. Under his leadership, Genesis LA’s total assets and net assets have grown fivefold. Prior to joining Genesis LA, Tom was a John Gardner Fellow in the Office of Mayor James K. Hahn, where he worked on policies and programs to alleviate homelessness and spur economic development. After his fellowship, he worked for the General Manager of the Los Angeles Housing Department, assisting in the development of a supportive housing program and an acquisition and predevelopment loan fund. Tom holds a Master’s degree in Urban Planning from Harvard University Graduate School of Design and a Bachelor’s degree in political science from the University of California at Berkeley. He is committed to improving the social, economic, and physical character of undeserved communities in Los Angeles through new and innovative partnerships.

Christine Ryan, Manager, Program-Related Investments, The California Endowment

Christine Ryan is the Manager for Program-Related Investments (PRI) at The California Endowment (TCE). Christine supports TCE’s Impact Investing practice by managing multiple aspects of the PRI portfolio, including compliance, reporting, due diligence, strategy, and pipeline development. Her work focuses on programmatically aligning capital investments to support the growth of healthy, sustainable communities. Christine has professional experience in the public, private, and nonprofit sectors. Prior to joining TCE, Christine was a portfolio manager with the Office of Development Credit at the US Agency for International Development in Washington, DC. She holds a B.S. in Finance from Fordham University and a Master’s in International Affairs with a concentration in International Economics from the University of California, San Diego.

David Newsome, Vice President of Strategy initiatives, Virginia Community Capital

David Newsome is the Vice President of Strategy initiatives at VCC/LOCUS. In this role, he supports strategic and financial planning, leads operational improvement initiatives, and manages critical projects and programs such as the Community Investment Guarantee Pool (CIGP). Prior to joining LOCUS and VCC, David was a consultant with McKinsey & Company in Detroit where he worked with governments, non-profits, and businesses around the globe to develop and implement strategies and operational improvement plans. David also served as the Special Assistant to the President of The Kresge Foundation from 2017-2018. Through cross-sector experiences, he has developed a unique skill set and perspective on the roles various stakeholders can and should play to support equitable, thriving communities. David holds undergraduate degrees in linguistics and urban studies from the University of Virginia and a Masters in City Planning as well as an MBA from the Massachusetts Institute of Technology. He splits his time between Richmond and Wintergreen, VA, where he can be found playing boardgames, making crafts/science experiments, and going on outdoor adventures with his four sons. David is on the advisory boards for the Echols Scholars Program at UVa and Hope Community Outreach and Development (HCOD) in Detroit.

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