Impact Investing

For over 15 years, the Arizona Community Foundation has been providing impact loans to qualifying nonprofits, schools, and municipalities to assist in completing essential projects that benefit communities across the state.

Our Loan Funds

We offer impact loans in four specialized areas through funds supported by corporate and government partners. These loans help organizations fill gaps where commercial lenders fall short, often serving as the catalyst to launch projects that serve the common good.

Affordable Housing Predevelopment Loan Fund

This fund was established in 2007 to jump-start the development of affordable housing projects throughout Arizona. Loans from this fund primarily address obstacles faced by nonprofit developers in relation to up-front predevelopment costs that are necessary to secure permanent financing.

Metro Phoenix Affordable Housing Collaborative Fund

This fund was established in 2021 to bolster affordable housing projects across Metro Phoenix. Through a generous grant from JPMorgan Chase and additional funding from APS, grants and loans from this fund benefit nonprofit housing developers that are producing and preserving affordable housing within Metro Phoenix.

Community Impact Loan Fund

This fund was established in 2012 to invest in innovative community projects by providing below market rate loans to eligible organizations to help with the cost of construction, renovation, and facility expansion. Loans from this fund provide charitable capital that creates both social and financial impact.

Rural Development Investment Fund

This fund was established in 2020 to assist rural communities with low-interest, short-term predevelopment financing for infrastructure projects that USDA Rural Development has committed to funding. Loans from this fund benefit water systems, schools, affordable housing, firehouses, museums, parks, and related needs in rural communities.

$2.9 million available

Metro Phoenix Affordable Housing Collaborative Fund now accepting applications for grants and loans from nonprofit housing developers for projects in Metro Phoenix.

ACF's loan programs

Collectively, these loan programs have distributed over $28.2 million in loans and capital support. Our impact loans benefit nonprofits in the following ways:


A greater leverage and scale by using a small portion of assets as recyclable, low-interest, or market-rate loans across multiple nonprofit sectors.


New and sophisticated financial tools to nonprofits, increasing organizational expertise and ultimately strengthening the nonprofit sector.


Access to capital that may not be available or affordable to nonprofits through traditional lenders.


Impact across the broader community.


New donors interested in achieving greater community impact.

Affordable Housing Predevelopment Loan Fund Impact

$5.3 million

Loaned across Arizona.


Funded housing projects.


Funding leverage ratio.


Housing units for low-income individuals and families, senior citizens, Veterans, and adults with illnesses or disabilities.

Community Impact Loan Fund Spotlight

Desert Botanical Garden

Construction at Gertrude's at the Desert Botanical Garden.

Received two

Community Impact Loans.


Loaned in 2013.


Loaned in 2020.

A Community Impact Loan was deployed to the Desert Botanical Garden in 2013 to fund the construction of a new pumping system to draw nutrient-rich non-potable water directly from the adjacent Salt River Project Canal. The project saved the garden about $90,000 annually in irrigation costs while providing higher quality water to the plants and soil. 

A second loan was deployed in 2020 to fund renovations for the garden's onsite restaurant Gertrude's. The restaurant was improved and enlarged, with added storage, shaded areas, and three new ADA-compliant restrooms.

These two loans exemplify the power of impact investing—nonprofit organizations benefit from below-market loans that might not otherwise be available to them while the community continues to enjoy a cultural and environmental resource.

Image above: Construction at Gertrudes. Photo courtesy of Desert Botanical Garden.

Find out if your organization is eligible.

Talk with Us

Get in touch to learn more about the benefits of applying for a loan. Contact Sarah Liguori for more information.

Get in touch to learn more about the benefits of applying for a loan. Contact Sarah Liguori for more information.