Social investment goes electronic.Bethesda, Md.-based Calvert Social Investment Foundation is, for the first time, offering electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. of its community investment notes. Calvert created community investment notes in 1995 as a new investment instrument to allow individuals and institutions to invest in nonprofit intermediaries, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a statement from the Calvert Foundation Organization Information Calvert Foundation is a 501(c)(3) nonprofit organization specializing in Community Investment, and has operated for over ten years. Calvert Foundation utilizes investment capital, rather than conventional philanthropy, to create a model that enables . "These notes are a security that meets federal and state registration requirements and pays investors a fixed rate of interest, allowing the investor to earn a return while also providing valuable support to the most under-served communities," the Calvert Foundation stated. Now the notes will be available for purchase from an electronic trading platform. Calvert Community Investment Notes have a base of 2,000 individual and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. that have financed more than 100,000 jobs, 6,000 new or rehabilitated homes, and nearly 5,000 nonprofit facilities, the foundation stated. Calvert has moved roughly $250 million through its community investment portfolio. The notes will be sold electronically through Depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. Trust Corporation in a similar fashion as stocks and bonds are sold, the foundation stated. The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. will act as a trustee. Previously, the notes were available in paper-only format available from the Calvert Foundation. The community investment segment targets critical housing, employment and social service needs in "red-lined" communities, the Foundation stated. The Calvert Foundation's goal is to help end poverty through investment. Its broader objective is creating "community investment" as an allocation in every investor's portfolio, the Calvert Foundation stated. Visit www.calvertfoundation.org for more information. |
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