Creating Equity and OpportunityTCFMIC is a subsidiary of The Community Foundation for Greater New Haven that invests in people, ideas and businesses to create economic empowerment and mobility in the 20 town region of Greater New Haven. TCFMIC actively pursues investments to reduce inequalities through creative and innovative financial instruments and engagement strategies customized to meet the needs of the local environment.
Underserved Entrepreneurs, Small Businesses, Start Ups
Who We Serve
TCFMIC serves entrepreneurs, start-ups, existing businesses and organizations that encounter structural and financial barriers and who may not fit conventional financing profiles. TCFMIC has a priority for working with Black, Brown, women, immigrant and formerly incarcerated entrepreneurs in Greater New Haven.
Experienced Leadership and Management
The Community Foundation Mission Investments Company (TCFMIC) is a wholly-owned subsidiary of The Community Foundation led by a board and and supported by a staff with decades of experience in finance, business, and philanthropy and passion for the Greater New Haven community.
TCFMIC Board of Directors
A History of Impact
The Community Foundation has a long history of raising and deploying capital resources through impact investments to meet the needs of the community.
The concept of using private investing for social good began in the 1980s, when the Council on Foundations’ report on Socially Responsible Investing (SRI) identified non-traditional ways to achieve programmatic purposes.
The development of the new Community Foundation Building in 1989 as an anchor for the Audubon Arts District was one if its first investments of this kind.
1990s Strategic Development
Board reviews and contemplates information from the Council on Foundations’ SRI study. Policy formalized in 1999, and a segregated mutual fund was established to and managed with a SRI strategy.
2000-2016 Impact Investing
The Foundation tested new ways to invest with impact. It created more equitable opportunities for people who would not have funding access and developed new ways to satisfy donor intent.
2005 - Mutual Housing and Neighborhood Housing
2007 - Greater New Haven Community Loan Fund
2010 - The Greater Dwight Investment Corp., which worked with community organizations to develop a shopping plaza and bring a grocery store to a food desert
2012 - New Haven Teacher’s Home Ownership Program, in partnership with New Haven Investment Fund
2014-2016 - Multiple investments including: Neighborhood Music School, FreshBev, and Fitscript.
2017 - Present TCFMIC
2017 - The Foundation created TCFMIC as a wholly owned subsidiary to carry out its mission investing under a new strategic direction to diverse entrepreneurs, community groups and organizations that promote inclusive growth.
2020 - TCFMIC launches Partnership Loan Program for Minority and Women Owned Businesses in Greater New Haven
2020 - TCFMIC launches New Haven Equitable Entrepreneurship Ecosystem NHE3.
2023- e3connector.com launched to connect small business owners and entrepreneurs with the financial resources and technical support services.
Co-founded by nationally-renowned artist Titus Kaphar, NXTHVN is a new national arts model that empowers emerging artists and curators of color through education and access.
Connecticut Community Outreach and Revitalization Program, ConnCORP LLC. is redeveloping a blighted shopping plaza into a residential and cultural center in New Haven's Dixwell neighborhood.
|Other TCF-MIC Investments|
|Project||Transaction Type||Partners||Project Type|
|First Niagara Home Ownership Fund||Forgivable loan for home ownership||NAACP; Neighborhood Housing Service; local financial institutions||Support for local homeownership|
|Fitscript||Convertible loan||Connecticut Innovations; local investors||Job creation with diabetes management company|
|Freshbev (RIPE Juice)||Convertible loan||A local foundation funding partner||Job creation with natural juice company|
|District Innovation and Venture Center||Term loan||Elm City Innovation Collaborative; CTNext; Comcast/NBC Universal; CT Dept. of Economic and Community Development||Job training and skill building to create a labor market that fuels economic growth|
|GDDC - Dwight Plaza||Term loan||Local Initiatives Support Corporation; Start Community Bank||Food distribution by community development corporation|
|Greater New Haven Community Loan Fund (now Capital for Change)||Low-interest loan||Revolving loan pool for local organizations|
|Green Wave/Sea Greens||Convertible loan||Connecticut Innovations; Patagonia; TrueNorth; Partners||Job creation with green, sustainable food production|
|Mutual Housing||Low-interest loan||FleetBank Community Reinvestment Funds||Capital for housing|
|Neighborhood Housing||Low-interest loan||FleetBank Community Reinvestment Funds||Capital for housing|
|Neighborhood Music School||Loan guaranty||Capital for Change||Credit enhancement|
How Can We Help?
A.F. Drew Alden
President & CEO
TCF-Mission Investments Company
Arthur W. Thomas III
Director of Entrepreneurial Initiatives and Inclusive Economic Opportunity
Joseph W. Williams Jr.
Director of NHE3 Operations