From 10 people huddled in a conference room 20 years ago to over 500 attending May’s Mission Investors Exchange bi-annual conference, we sure have come a long way. Today’s “hybrid thinkers” see no problem aligning their beliefs with their investments. They view the old way of thinking as too binary, forcing a false choice between profits and purpose.

For me, it was a hair tingly at the back of my neck few days in Baltimore. To see two huge foundations, MacArthur and Kresge, announce exciting new initiatives to mobilize capital from ALL sources, including individuals, shows how this movement is going mainstream. To hear the founder of Priceline and other venture capitalists talk about doing good and doing well, points the way toward a new attitude about money and what capitalism can be.

Most of all, seeing Kate Wolford take the main stage and modestly describe McKnight’s thoughtful approach was a very proud Minnesota moment. I love the fact that McKnight has quietly gone from 10% of assets devoted to impact investing to 25% without a lot of fanfare. In fact, the more than a dozen Minnesota impact investing leaders in attendance created a noticeable presence thanks to local innovators such as Karen Florez with the Minneapolis Foundation and Amy Jensen with the Northwest Area Foundation. But that’s how we roll here in the land of humble, hardworking, do it/don’t just yak about it culture.

On a personal note, Kate made my day/week/year when she said, “Susan, I’m so glad you’re here and in this role serving as MCF Executive in Residence. Now you have the standing to help connect and activate our community.” Indeed, I am living my dream this year, thanks to great colleagues and support from MCF and the Bush Foundation.

In Chicago, foundations, donors and individuals are coming together to benefit the city they love. Benefit Chicago is the latest example of extreme collaboration in which good people come together to not just meet, but to get something done. They aim to put $100 million to work in the community to fill the unmet need for financial capital in the social sector. 

What happens when foundations and others collaborate? 

Minnesota is proof that collaboration between local organizations and foundations can generate groundbreaking change. Our own Central Corridor Funders Collaborative has been incredibly successful in using the creation of the Green Line light rail to drive neighborhood development. The Northside Funders Group leverages its collaborators’ diverse perspectives and depth of knowledge in order to maximize their social impact in North Minneapolis.

In Chicago, the visionaries who run the MacArthur Foundation, Chicago Community Trust and Calvert Foundation came together over years of planning to create a unique partnership allowing individuals and institutions to give back to their own community through as little as a $20 investment. 

The positive side of Minnesota Nice is we already know how to work together. Congrats to our friends in the windy city. Tweet or email me with your ideas for what can work here!

Lately, many family foundation members have asked me about the best way to get started in impact investing.

An easy, no-risk way to start is to park your investable cash (up to $250,000 is federally insured) in a “do good” bank. Be careful though, some banks claim to do good, but they don’t.

You need to find an “It’s a Wonderful Life” bank, the kind that accepts deposits and invests the money in the local community. Avoid a bank that functions as a huge vacuum cleaner, sucking up community members’ assets and sending the money to Wall Street.

If you’re not sure if your local bank qualifies as a “do good” bank, contact the National Community Investment Fund (NCIF) to see how your bank rates.

Or, try one of the 11 Minnesota banks that meet NCIF social-impact standards. For example, the locally owned and operated Sunrise Community Banks is a B-corp and community development financial institution (CDFI) that caters to diverse urban customers and lends to them as well. This video says it all.

Full disclosure, I’m such a fan that I serve on the Sunrise Community Advisory Board. Sunrise Banks is also an MCF member. 

I would love to hear how you got started in impact investing. Tweet or email me your story.