Richmond Realtors Association’s Quality of Life Strategy

March 6, 2017 | Impact Stories

Richmond Association of REALTORS® (RAR) launched their “Quality of Life” investment strategy in May
of 2016. This strategy is funded through a loan to Virginia Community Capital (VCC) and donations to
The Community Foundation Serving Richmond and Central Virginia (TCF). In this model, RAR is bringing
together impact investing and philanthropy to tackle affordable housing and education issues in the
Richmond region.

How does it work?

RAR has invested $1 million into a three-year LION loan (Local Impact Opportunity Note) with VCC. The
interest income paid by VCC on the LION note will be donated to The Community Foundation (TCF). TCF
is Virginia’s largest community foundation, managing over $748 million in assets and deploying these
resources in ways that help create a healthy and thriving regional community. In addition to the annual
interest earned on the LION loan, RAR will dedicate 10% of its annual distribution from its technology
company to The Community Foundation. With the guidance of TCF, these donated funds will be used to
invest in area non-profits that are working to enhance K-12 educational offerings and outcomes.
“We’re incredibly excited to be working more closely with VCC and TCF—two organizations for
which we have tremendous respect. The opportunity to invest our resources wisely and reap a solid
return while at the same time investing in our community’s quality of life was something we just
couldn’t resist. We hope this will serve as an innovative model for other organizations wanting to have
an impact in the quality of life in their communities as well” concluded RAR CEO, Laura Lafayette.

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