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Don’t wait for a miracle to happen.

At NC3, we opened our August Board Meeting with these words from Shubhendu Sharma, a practitioner of the Miyawaki method to bring back maintenance-free native forests in New Delhi and Bangalore. Like community capital practitioners in the NC3 network, Sharma is working towards a vision of abundance and wellness for all. 

His words point to the fact that our shared vision can feel miraculously large. But every change starts with a small, sweet step. NC3 hopes to create space to collectively celebrate the diverse victories of our movement partners. Together, step by step, we will create an abundant future.

Read on for this month’s news on how we at NC3 are taking steps to support thriving, local economies.
Announcements

NC3 is pleased to announce the release of our Community Investment Fund (CIF) Toolkit! The CIF Toolkit is a collection of resources to help you develop a CIF in your community. The Toolkit includes explainer videos and downloadable worksheets to get you started, including a Team Builder Matrix, Investment Thesis Worksheet, Fund Calculator, Operating Structure Checklist, and Financial Modeling Guidelines. This toolkit acts as a complement to “Chapter 2: Steps to Create a Community Investment Fund” of the CIF Handbook

Interested in starting a CIF in your community? Hear more from Janice Shade, author of the Toolkit, during a webinar on Wednesday, September 22, 12pm PT/3pm ET. Janice will introduce the Toolkit and explore how real communities are using these tools to create their own CIFs. In addition, we’ll have breakout sessions for you to dig into the Team Builder Matrix to brainstorm who you can tap for a well-rounded CIF team. 

Register Now

You can also hear Janice share her experience with CIF’s on Transform Finance’s webinar, “Community Capital Funds and How They Build Power" (today, 1pm ET). The webinar will focus on how community capital funds are constructed and capitalized, what support they need, the role they fill in local capital ecosystems, and the challenges these projects face. Learn more and register here.

Updates from the Board

A Note from Board Chair Chris Miller 

For the Board of NC3, Friday August 13th 2021 had one of the elements that give Friday the 13th a bad name; one of our founding Board members, Janice Shade, attended her last meeting as a Board member.

Janice is one of the visionary leaders of the community capital and local investing movement. Jancie co-founded Milk Money, a crowdfunding investment platform, before the JOBS Act even came online.  That work is just one of many projects Janice brought to the movement; other notable contributions came as one of the authors of NC3’s Community Investment Funds: A How-to Guide for Building Local Wealth, Equity, and Justice e-book; service to the Board as interim Executive Director; Board leadership as Treasurer; development of a suite of documents for communities and organizations seeking to establish community investment funds; and perhaps most significantly, as leader of NC3’s Community Investment Fund Task Force.

In this latter role, Janice has led a group of distinguished and accomplished experts, some Board members, and other passionate supporters of the principles of community capital, in work that led to a proposal now in front of the Investment Management Division at the SEC.  The proposal seeks to create a ‘21st Century’ Community Investment Fund that would bring wealth-building opportunities and local economic vibrancy–centered on equity and justice–to every community in the country.

Those last words summarize Janice’s passion and vision: an economy built on equity and justice.  We will miss her on the Board, but look forward to working on many projects together in the coming years. Congrats Friend!

Staff Updates

A Note from Incoming Director of Administration Mica Fisher


I am so grateful and excited to join NC3 as the organization’s new Director of Administration. I am looking forward to meeting and learning from you, the stewards of community capital, and I hope to be able to support the movement with my energy and  passion for a more just economy. 

Before joining NC3, I managed the Worker Cooperative Business Development Initiative at the Department of Small Business Services in New York City. I am deeply inspired by the worker cooperative movement’s vision for an equitable and democratic economy that values self determination for all people. I think the movement for community capital is a wonderful complement to worker cooperatives. They are both tools for creating empowered and resilient communities. I see so much potential in the work of the members and Board of NC3, and I hope to expand our reach and invite new actors into the work. 

One of my goals is to increase our education and outreach efforts, particularly to spread the word about amazing resources like the Local Investing Resource Center. If there’s something you’d like to learn more about or educational programming that would be helpful to you, I would love to hear your feedback. 

Generally, if you’ve been reading this newsletter and thinking about reaching out to us here at NC3, now is the time! I’d be happy to get to know you and to look for possible opportunities for collaboration. NC3 is only as strong as our membership and broader community, and every point of connection helps move the needle forward. You can reach me at nc3@comcap.us.

CIF Taskforce
Our Community Investment Fund (CIF) Taskforce is still hard at work, aiming to educate regulators, investors, and the general public about how updates to the Investment Company Act of 1940 could lead to more inclusive, community scale funds. We are continuing to engage with the SEC to deliver this message. In addition, ImpactAlpha recently published this piece by Janice Shade, detailing why this work is important and how regulators could help advance the field. 

You can support this work by signing NC3’s petition calling on regulators and legislators to allow community champions and grassroots investors to pool capital in new ways through new types of Community Investment Funds. Sign your name here
NC3 is building a network of community champions collaborating to democratize financial systems and create opportunities for empowered citizen investors to catalyze locally-rooted enterprises that drive both individual and community wealth and wellbeing.

Our members are a diverse group of community leaders, entrepreneurs, lawyers, financial advisors, investors, consultants, economic development professionals, philanthropists, concerned citizens, educators, and others collaborating to usher in an era of greater inclusivity and more widespread, shared prosperity.
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