Since 1983 Triangle Community Foundation has focused on grantmaking as the primary tool to invest in the Triangle region. That tool has allowed us to grant over $500 million into our community.
Over time we have come to realize that grantmaking alone can’t fill the gap of need. Today’s problems are more complex, and the incentive structures, legal restrictions, and policies in place make issues more complicated to solve. The Triangle Impact Fund is an impact investing tool that provides a different structure and different avenues for funding than traditional grants, and perhaps more importantly, prioritizes a measurable social benefit in addition to a financial return.
Board Member and Impact Investment Committee Chair Kevin Dick announced the Triangle Impact Fund via video message during What Matters on June 3, 2026.
What is Impact Investing?
Impact investing is a term coined almost 20 years ago to describe a spectrum of investment practices intended to generate social and/or environmental impact alongside a financial return. Impact investing structure allows philanthropy to support innovation, take smart risks, and help fill gaps that public and private funding alone cannot address.
Initial investments of the Triangle Impact Fund will focus on housing affordability, where funding gaps are prominent, and other important community issues in the future. Since 2025 the Foundation has been listening and learning about this challenging issue, with the aim of mobilizing funding in a way to make a tangible impact. The creation of the Triangle Impact Fund is the direct result of this work.
How the Triangle Impact Fund Works
The Triangle Impact Fund will make low-interest loans to community development financial institutions (CDFIs) and other eligible projects. Unlike traditional grants, these impact investments are repaid and recycled back into the community over time. Capital preservation is prioritized, while targeting a modest 1–2 percent net return, allowing charitable dollars to continue supporting community benefit.
Investors in the Triangle Impact Fund:
→ Prioritize impact & capital preservation,
→ Understand returns are below market,
→ Accept limited liquidity,
→ Acknowledge repayment is dependent on portfolio performance, and
→ Care about housing affordability and/or local investment.
| Minimum Investment | $50,000 | $250,000 |
| Commitment Period | 7 Years | 7 Years |
| Target Return | 1-2 % Net | 1-2 % Net |
| Administrative Fee | 0.50% | 0.50% |
INVESTMENT STRATEGY
- We expect to invest a portion in CDFIs to support existing affordable housing funds and a portion in direct projects.
- We aim for a portfolio of investments that balance risk and invests in promising projects across Chatham, Durham, Orange and Wake counties.
- We expect direct project investments to vary between $250,000 and $1,500,000 per project.
SUPPORTS OUR HOUSING AFFORDABILITY PILLARS
- Increase Low-Income Rental Housing
-
- Increase the number of low-income rental units on the market serving households at 80% Area Median Income (AMI) and below.
- Support Low-Income Homeowners
-
- Stabilize and prevent displacement of homeowners making 80% AMI and below who bought their homes before January 1, 2020.
- Secure Land for Affordable Housing
-
- Work with community partners to acquire and/or commit existing land for long-term affordable housing development.
FUNDS THE GAP
Frequently Asked Questions
DISCLOSURE: Investments in the Triangle Impact Fund involve risk, including the potential loss of principal. Past performance, if any, is not indicative of future results. Prospective investors should conduct their own due diligence and consult with their legal, tax, and financial advisors prior to making any investment decision.
Nothing on this page should be construed as legal, tax, or investment advice. The Triangle Community Foundation does not provide individualized investment advice.