Over $10 Million from WK Kellogg Foundation to Medical Center in Indian Country

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Community Capital

Native Brief: FT LAUDERDALE - On behalf of the WK Kellogg Foundation's mission-driven investment portfolio, Community Capital Management today announced it has invested over $10 million in vital community development initiatives.

This includes its most recent investment, a Build America Bond financing the University of New Mexico's Sandoval Regional Medical Center which will be a new 200,000 square foot, 68 public bed, not-for-profit, state-of-the-art community teaching hospital. Construction of the new hospital will provide much needed access to health care for the residents of Sandoval County and surrounding areas that are currently underserved in health care services.

The community teaching hospital will serve as a training ground for medical professionals, including those in nursing studies at the nearby University of New Mexico West and Central New Mexico Community College (CNM) campuses. In fact, students who graduate from CNM with a two-year degree gain automatic acceptance into the University. This is particularly important for the county's American Indian residents who look to a career in medical services.

In 2007, the Foundation earmarked $75 million of its total investment portfolio toward mission-driven investing in the United States. The portfolio strategically aligns its investments to advance the Foundation's mission of supporting children, families and communities as they strengthen and create conditions that propel vulnerable children to achieve success as individuals and as contributors to the larger community and society. The Foundation concentrates the majority of its place-based work in three priority states in the country: Michigan, Mississippi and New Mexico.

In 2009, the Foundation engaged Community Capital Management to create a portfolio of high credit quality, fixed income securities that would finance initiatives to further its mission in its targeted geographies. Other securities purchased to date on behalf of the Foundation finance mission-driven initiatives that support education, literacy, healthy foods and communities, sustainability, and affordable housing.

For example, one Small Business Administration loan finances a restaurant in Milwaukee that uses eggs and milk from local farms employing organic farming techniques to ensure that the food produced is wholesome, nutritious and without any added antibiotics and synthetic chemicals.

"Just as the Foundation awards grants to advance its mission of helping vulnerable children, our mission-driven investing portfolio uses investments to reinforce that same goal," said Tony Berkley, director of mission-driven investments at the WK Kellogg Foundation. "Our mission-driven investments are rigorously screened for their financial and social impact to ensure they meet our mission while earning a competitive financial return."

posted July 27, 2011 6:50 am edt