It is clear, by now, that nonprofits and government—even together—do not have the resources to fix the various ills that plague our world. Not even close.
But the money is out there—in the world of for-profit business. And ImpactPHL, launched two years ago, is intent on seeing that money put to socially good use. “Our mantra is that there is a global trend around leveraging capitalism and market forces for more than making a profit,” says Cory Donovan, ImpactPHL program manager. “The different legs of the stool are all telling the business sector they want this—customers, employees and investors.”
“Financial advisors are enablers of impact investing,” Donovan says. “They have clients who come in and say, ‘I want to do good with my money.’ Instead of pushing back on that, they’ll have the tools to do that.”
Philly is again a hub of social impact investing: According to ImpactPHL, the city’s chapter of Investors’ Circle is the most active early-stage impact investing network. And several companies and partnerships in town reflect its values—like Shift Capital, a real estate development company with a socially-driven mission, and the public-private Philadelphia Industrial Development Corporation. But there is room to grow.
“We want to accelerate this movement in Philly,” says Donovan. “The more we do that, the more value there is for the Philadelphia community; the better people understand this, the better they can take advantage of the opportunity.”
Thursday April 26th-Friday April 27th, 8 am-6 pm, $795-$1195, Cira Centre, 2929 Arch Street, Mezzanine level. Tickets here.