Assessment - Centre for Public Impact

Project Details

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Choose a project to assess.
Investment / Project Title
What stage is the project currently in?
Other
Select investment type (select all that apply)
- Mixed use development (if so, select components below)
- Commercial real estate (retail / hotel / office)
- Industrial real estate
- Residential real estate
- Venture capital in operating business
- Private equity in operating business
- Infrastructure
- Other (please describe)
Other
Select your project's <u>primary</u> desired social, economic, and/or environmental impact areas
Identify up to two areas that your project will most directly affect.
- Access to healthy food
- Affordable and accessible housing
- Education
- Entrepreneurship / community wealth building
- Environment and open spaces
- Health / social services
- High-quality jobs / workforce development
- Transportation and connectivity
- Other (please describe)
Other
Overall fund size ($)
Total deal size ($)
Within what zip code(s) is this project? (list number)

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Planning

Objectives: The specific impact results the investment / project aims to achieve.
The primary impact areas you selected appear below.
With these in mind, describe the specific impact objective(s) you aim to achieve through this project.
Example objectives include:
- Create new high-quality entry-level and management jobs (e.g. jobs that pay a living wage, provide benefits, and allow for career advancement) for the residents of Northeast Baltimore
- Catalyze the growth of minority and women-owned businesses in West Oakland
How, specifically, will your investment plan achieve these objectives?
Examples include:
- Re-develop a 100-room hotel in Northeast Baltimore that will create 50 new jobs. Identify a hotel management company that has signed Glassdoor’s Career Advancement pledge and partner with Baltimore City Community College to source local talent.
- Allocate 30% of investment fund to early-stage women and minority owned businesses in West Oakland, with the intention of growing each company’s revenue in the next 3 years.
Example in Action: Impact Objectives In Alabama’s Opportunity Zones
Opportunity Alabama is a nonprofit initiative dedicated to connecting investors with investable assets in Alabama’s OZs. The organization is working in communities like Birmingham to build a pipeline to bring local capital to achieve specific impact objectives. They are partnering with the city to train 500 residents by June 2020 in how to identify and present OZ projects. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

Objectives are:
- Strong
  - Clearly defined and are set early in the process
  - Aligned with the community’s economic priorities, if established
  - Aligned with local / regional economic development strategies
- Good
  - Set early in the process but are not entirely clear
  - Broadly aligned with the community's economic priorities, if they exist
  - Broadly aligned with local / regional economic development strategies
- Fair
  - Set late in the process and are high-level and/or vague
  - Unclear whether they align with the community's economic priorities, if they exist
  - Unclear whether they align with local / regional economic development strategies
- Weak
  - Not set or non-specific
  - Misaligned with the community’s economic priorities
  - Misaligned with local / regional economic development strategies

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Planning

Evidence: The extent to which evidence suggests that you are addressing a community need and that your chosen investment approach will successfully achieve your impact objectives.
What evidence suggests that your impact objectives address an area of clear community need?
Cite specific data points from resources such as US Census Bureaus’ Data Archive, City Builder by Citi, or the Inclusive Growth Map by Mastercard Center for Inclusive Growth. Also reference insights from community engagement activities such as town hall meetings and community needs assessments.
What evidence suggests that this investment method will achieve your impact objectives?
Cite examples of other investments that have generated similar types of impact or findings from your due diligence that capital will be put to effective use.
Example in Action: A Multi-Pronged Revitalization Strategy Shows Signs of Promise
Merced - a city of 83,000 nestled in California’s central valley - was hard hit by the economic impacts of the 2008 Recession. Based on evidence of the positive impact public university campuses can have on a surrounding community, the state government, the city, and private developers teamed up to attract massive new investment to the city, with signs of promising results. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

The evidence:
- Strong
  - Is extensive with numerous reinforcing examples
  - Clearly demonstrates your impact objectives are needed and wanted by the community
  - Clearly suggests that your chosen investment method will likely produce positive outcomes
- Good
  - Is relatively widespread with a few reinforcing examples
  - Generally suggests your impact objectives are needed and wanted by the community
  - Suggests that your chosen investment method may produce positive outcomes
- Fair
  - Is sparse with a one or two specific examples
  - Somewhat suggests your impact objectives are needed and wanted by the community
  - Is inconclusive regarding whether your investment method will produce positive community outcomes
- Weak
  - Is not available
  - Does not suggest your impact objectives are needed in the community
  - Suggests your investment method will fail to translate into positive community outcomes

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Planning

Feasibility: The extent to which your impact plan can be accomplished and will not be hindered by significant technical, legal or operational challenges (e.g. financing, timelines, certification, compliance).
What are the most significant technical, legal, or operational challenges that stand in the way of the project successfully achieving its impact objectives?
What plans do you have in place to overcome these obstacles and what obstacles have been left unaddressed?
If needed, consider strategies to acquire technical assistance from public and non-profit intermediaries such as your local Small Business Development Center or the Local Initiatives Support Corporation (LISC).
Example in Action: Slow Processes Undermine Boulder Project
The city of Boulder, CO teamed up with a community development organization to save 179 affordable homes and cost-limited retail space in the hopes of boosting local small businesses. The developers and the city were initially optimistic the ambitious timeline was feasible, but as the months ticked away with haggling over agreement details, the developer began to worry the project would never make it through Boulder’s slow planning process in time to meet the deadline and preserve the federal funds. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

Your plan is:
- Strong
  - Highly achievable with no significant technical, legal, or operational challenges left unaddressed
- Good
  - Mostly achievable, with a few manageable challenges
- Fair
  - Undermined by some significant, unaddressed challenges
- Weak
  - Not achievable, and has major challenges that have not yet been addressed

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Legitimacy

Stakeholder Engagement: The extent to which specific external stakeholder groups (e.g. business leaders, community groups, non-profit partners) have been engaged, have a voice in the project direction, and are supportive of the objectives and approach.
Who are the relevant community stakeholder groups that have an interest in or will be affected by the project or business you are investing in?
Consider neighborhood improvement associations, community development corporations, chambers of commerce, relevant non-profit intermediaries, and others.
Discuss how you plan to engage and give a voice to each of these groups during the planning and investment hold periods?
Consider the role of community meetings, outreach events, and neighborhood advisory committees.
Example in Action: Transforming a Shopping Center in Baltimore
In Northeast Baltimore, the once racially segregated Northwood Shopping Center was failing to meet resident needs and eventually fell into disrepair. After decades of mistrust, a working group of public officials, resident leaders, private developers, and the shopping center owners set out on a process of intentional and collaborative stakeholder engagement, ultimately agreeing on a vision to transform the complex for the surrounding community. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

You have:
- Strong
  - Strong support from a diverse set of project stakeholders
  - Engaged these stakeholders in the development and implementation of the project
  - Given stakeholders a voice and decision-making ability in certain design elements of the investment
- Good
  - Solid support from majority of diverse stakeholders
  - Moderately engaged these stakeholders throughout the project
  - Given these groups somewhat of a voice and decision-making ability in certain design elements
- Fair
  - Tentative support from some or most stakeholders
  - Engaged these stakeholders in a limited fashion throughout the project
  - Not given these groups a chance to substantively engage with the project design or implementation
- Weak
  - Opposition from some or most key stakeholders
  - Barely engaged these stakeholders throughout the project
  - Not given these groups any chance to engage with the project design or implementation

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Legitimacy

Community Confidence: The extent to which the community supports the project and its objectives, and trusts the actors involved (e.g. investors, developers, business operators) to act in the community’s interest.
To what degree does the local community support the project and its objectives and the investors / developers involved to act in the community’s interest?
Cite specific evidence from your stakeholder engagement activities.
What steps have been or will be taken to demonstrate commitment and integrity to the local community?
Consider how you and your partners will make yourselves visible and accessible to community members. Also consider creating a community benefits agreement.
Example in Action: KNDGM Community-first Approach
Led by former NFL linebacker Derrick Morgan, KNGDM Opportunity Fund is aiming to raise $200 million to build affordable housing and student housing in markets such as Nashville, Austin, Atlanta and Morgan's hometown of Coatesville, PA. The fund also invests in operating businesses that focus on education and local job creation. With the guidance from community advisors, KNGDM Impact Fund invests with the community outcomes in mind first, giving power to the residents while ensuring social impact is both sustainable and measurable based on specific KPIs. Read more
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

The community:
- Strong
  - Strongly supports the project and its objectives
  - Has strong trust in the investors and developers involved
  - Is aware of a concrete plan to engage members of the community as the project progresses
- Good
  - Broadly supports the project and its objectives
  - Has general trust in the investors and developers involved
  - Is aware of a high-level plan to engage members of the community as the project progresses
- Fair
  - Has conflicting or ambivalent views about the project and its objectives
  - Is unaware of the investors and developers involved
  - Is unaware of a plan to engage members of the community, but a high-level plan does exist
- Weak
  - Has significant distrust of the project, its objectives, and/or the developers involved
  - Is unaware of a plan to engage members of the community and no plan exists

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Legitimacy

Political Commitment: The willingness of public officials (e.g. mayor, city councilperson, vocal community advocate) to visibly support the project and its objective.
To what extent do relevant local officials support the project and are engaged in providing the proper approvals?
Discuss any public officials opposed and what is being done to address this opposition.
To what extent are these officials willing to publicly support the project and its objectives?
Example in Action: City Leaders Lead the Revitalization of a Textile Town
When the Cannon Mills textile factory closed in 2003 in Kannapolis, North Carolina, over 4,300 people lost their jobs in a day. After a decade of negative economic impacts, city leaders committed to a bold plan to purchase a large amount of downtown property. They have partnered with the state and private developers to catalyze a new, more modern vision for the city. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

Civic and public officials:
- Strong
  - Provide strong and vocal support
- Good
  - Provide moderate support, with some willingness to show support publicly
- Fair
  - Give moderate or tentative support privately, with occasional or no willingness to show public support
- Weak
  - Actively oppose the project and speak out negatively about the project and its objectives

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Action

Measurement: The extent to which impact metrics will be identified, monitored, and reported throughout the investment process and will lead to continuous improvement.
Which specific quantitative and qualitative metrics have you identified to measure whether you are achieving your impact objectives?
Consider setting targets that are Specific, Measurable, Attainable, Relevant, and Time-based (SMART). Reference the IRIS + Catalogue of quantitative metrics as well as relevant qualitative metrics, such as resident testimonials. Example metrics include:
- Number of permanent employees belonging to minority or previously excluded groups
- Percent affordable housing
- Greenhouse gas emission
- Resident sentiments expressed during chamber of commerce focus group
How will you monitor, report, and improve from these metrics throughout the investment process?
Example in Action: Measuring Impact in Erie, PA
The City of Erie, business, and non-profit leaders have coalesced around the common goal of promoting positive impact through investment and development. The Flagship Opportunity Zone Development Company and the Erie Downtown Development Corporation have attracted interest and investment to the city of just over 100,000 people. Both organizations have partnered with Mastercard’s Center for Inclusive Growth and KPMG to accurately track, measure and quantify the economic and societal impact of OZ investments. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

You have:
- Strong
  - Identified a comprehensive set of quantitative and qualitative impact metrics that align to your impact objectives
  - Set targets that are Specific, Measurable, Attainable, Relevant, and Time-based
  - Created a concrete plan to monitor metrics, report progress to important stakeholders, and adjust investment approach as needed over time
- Good
  - Identified a moderately comprehensive list of impact metrics
  - Set targets that are mostly SMART
  - Created a relatively actionable plan to monitor, report, and continuously improve
- Fair
  - Identified a few impact metrics
  - Set broad over-arching targets, but they lack SMART qualities
  - Given some thought to monitoring, reporting, and continuously improving
- Weak
  - Not identified any impact metrics
  - Not set any targets
  - No plan in place to monitor, report, and continuously improve

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Action

Internal Alignment: The extent to which the people directly responsible for achieving your objectives (e.g. staff, contractors, and partners) have shared interests and incentives.
Who are the people or organizations directly responsible for ensuring your investment strategy achieves your impact objectives?
Do these people share your impact vision and what specific incentives are in place to ensure the objectives are achieved?
(e.g. if your impact objective is to increase access to high-quality jobs for residents, describe how your management company has incentives to hire from the local community)
Example in Action: Tying Carry Compensation to Social Outcomes in Brazil
Vox Capital was the first certified impact investing fund in Brazil. Founded in 2009, it provides early-stage capital for companies offering innovative and scalable solutions to enhance the lives of low-income Brazilians. When Saútil, one of its portfolio companies, found it more profitable to sell its service to higher-income clients, Vox ensured low-income clients would also benefit by aligning part of its carry compensation to social impact metrics. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

You have:
- Strong
  - Identified all people and organizations responsible for achieving your impact objectives
  - Ensured they share your vision for impact
  - Created specific incentives that are aligned with your impact objectives
- Good
  - Identified most people and organizations
  - Ensured they mostly share your vision for impact
  - Created broad incentives
- Fair
  - Identified some people and organizations
  - Ensured they partially share your vision for impact
  - Created no specific incentives, but have no reason to believe they will be misaligned
- Weak
  - Not identified many of the people and organizations, OR
  - Reason to believe they do not share your impact vision
  - Reason to believe incentives are misaligned

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*Your responses below are completely anonymous and will not be published. This tool is for you, so answering questions completely and honestly will help improve your project’s potential for positive impact.
Action

Management: The extent to which mechanisms are in place (e.g. people, time, and processes) to ensure the investment strategy actually achieves your impact objectives.
How will you ensure that the people involved in the project make progress towards achieving your impact objective?
(e.g. what is your cadence for checking your target impact metrics, how will you hold staff accountable for completing impact-oriented activities?)
What are the most significant limitations regarding people, time, and processes that could undermine the success of your impact objectives?
(e.g. my staff is already over-worked, they will not have the time to track progress against our impact plan)
Example in Action: MiHaven Property Fund: Training Job Seekers in Construction
The MiHaven Property Fund (MPF) was established to help chronically unemployed Indigenous Australians enter sustainable employment in construction and related industries. The fund would buy property, recruit a cohort of jobseekers, and provide on-the-job construction training during the development of the property. MiHaven managed more than just the development and sale of the project, it also oversaw the training and support of the jobseekers over a 6-month period. Read more.
Your Assessment:*
Based on the criteria below, select the grade that you feel most appropriately reflects your current approach

You have:
- Strong
  - Ensured people understand their roles and responsibilities relative to achieving those objectives
  - Created an achievable plan to ensure progress is made
- Good
  - Ensured most people understand their roles and responsibilities
  - Formed a high-level plan to ensure they work towards achieving the impact objectives
- Fair
  - Ensured some people understand their roles and responsibilities
  - Thought through some of the elements of what they will need to ensure progress is made, but no concrete plan exists
- Weak
  - Not ensured people understand their roles and responsibility
  - Not created a plan to ensure progress is made
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Opportunity to Impact

Project Details

Planning

Objectives: The specific impact results the investment / project aims to achieve.

Planning

Evidence: The extent to which evidence suggests that you are addressing a community need and that your chosen investment approach will successfully achieve your impact objectives.

Planning

Feasibility: The extent to which your impact plan can be accomplished and will not be hindered by significant technical, legal or operational challenges (e.g. financing, timelines, certification, compliance).

Legitimacy

Stakeholder Engagement: The extent to which specific external stakeholder groups (e.g. business leaders, community groups, non-profit partners) have been engaged, have a voice in the project direction, and are supportive of the objectives and approach.

Legitimacy

Community Confidence: The extent to which the community supports the project and its objectives, and trusts the actors involved (e.g. investors, developers, business operators) to act in the community’s interest.

Legitimacy

Political Commitment: The willingness of public officials (e.g. mayor, city councilperson, vocal community advocate) to visibly support the project and its objective.

Action

Measurement: The extent to which impact metrics will be identified, monitored, and reported throughout the investment process and will lead to continuous improvement.

Action

Internal Alignment: The extent to which the people directly responsible for achieving your objectives (e.g. staff, contractors, and partners) have shared interests and incentives.

Action

Management: The extent to which mechanisms are in place (e.g. people, time, and processes) to ensure the investment strategy actually achieves your impact objectives.