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Community Development

At Parnassus Investments, part of our responsible investment philosophy means investing back into our community. Up to 2% of the Parnassus Funds' assets may be invested with community development financial institutions (CDFIs) which offer credit, capital, and financial services to individuals and organizations engaged in work that benefits low-income communities.

We are cognizant of investing shareholder dollars profitably and responsibly. When we consider investing in a CDFI, we look at how much that institution has impacted a community as well as how conscientious they are when choosing to finance individuals and organizations. The following are examples of CDFIs that we invest in:

Microvest

MicroVest

The MicroVest family of funds links capital markets to the entrepreneurial poor by funding select microfinance institutions in emerging markets. MicroVest embraces a market-oriented approach to development and has made loans and investments in dozens of institutions worldwide. MicroVest is headquartered in the Washington, D.C. metropolitan area and was founded by CARE, MEDA and the Seed Capital Development Fund, three non-profit organizations with longstanding reputations for excellence in microfinance.

New Hampshire Community Loan Fund

New Hampshire Community Loan Fund

Established in 1983 in Concord, N.H., the Community Loan Fund was one of the first Community Development Financial Institutions in the United States. This organization collaborates with a wide range of donors and lenders, and with business, nonprofit and government partners. They provide the financing and support that people with low and moderate incomes need to have affordable housing, quality jobs, child care and early education for their children.

Root Capital

Root Capital

Root Capital strives to offer affordable financing to rural enterprises located Latin America, South America, and Africa whose business activities cultivate economic development and environmental conservation. This organization is able to invest in areas that are economically volatile because of its lender criteria that the borrower must have an established relationship with green market purchasers, ensuring that risk of default is minimized.

Boston Community Capital

Boston Community Capital

For Boston Community Capital, healthy communities can be identified as those that have organizations that provide its residents with quality services such as affordable housing, childcare, and healthcare services. Boston Community Capital recognizes that these crucial services are often lacking in low-income communities, and its mission is to transform such areas into healthy communities.

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