RISC Foundation

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OVERVIEW: The RISC Foundation supports economic development in Connecticut.

FUNDING AREAS: Economic Development

IP TAKE: This is a single-issue funder with a single city in focus. It is open to learning about new local investment opportunities in New Haven, but isn’t particularly accessible.

PROFILE: Established in 2008, the RISC Foundation is a private, non-operating foundation based in New Haven, Connecticut. RISC is an acronym for Responsible Investment for Social Change. It is an “expression both of an intent to promote positive social change and of a willingness to assume risk in making investment decisions designed to promote this change.” Louis Linfield Simon, an attorney, is the president of the foundation, and other Simon family members serve as foundation officers. It funds local efforts for economic development.

The RISC Foundation created the New Haven Investment Fund in 2012 to centralize and facilitate its local efforts. This fund carries out economic development activities mostly through program-related investments. It is interested only in New Haven’s development because there are significant urban economic development issues here but also because this area is small enough for the foundation to have an impact without starting from scratch since there other resources here to build upon. It directs foundation commitments to the poorest areas of the city to make the area better for the less fortunate, but it is also interested in making the city more attractive for people who are affluent and well-educated.

Grants range between about $1,000 and $300,000. Learn more about this funder’s local giving by examining its recent tax records. Grantmaking focuses on New Haven, Connecticut. Past local grantees include Edgerton Park Conservancy, Connecticut Voices for Children and Music Haven.

This foundation does not accept unsolicited grant applications from nonprofits. However, it does consider new investment opportunities where conventional resources are not available but where investments could have a positive impact. Direct general questions to the staff at NHIF@riscfoundation.org or 413-528-1199.

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