Readiness Checklist

Do a basic assessment of where your institution is at, and identify the steps you need to take to implement a place-based investment approach to improve community health and well-being.


  • Leadership and governance have communicated institutional support
  • Investment staff and treasury department are supportive of program
  • Dedicated staff have been identified to manage institutional objectives
  • A business case for place-based investment is developed, institutionalized, and communicated

Investment Policy

  • Governance authorizes Environmental, Social, and Governance (ESG)/Socially Responsible Investing policy, which includes guidance or directives on place-based investment
  • Investment portfolio integrates ESG criteria into investment decision-making across asset classes
  • Current investments are examined for alignment with institutional objectives
  • Place-based investment carve-out is integrated into asset allocation
  • Dedicated operational resource stream is created for community benefit interventions aligning with place-based investments

Partnerships and Community Engagement

  • Community development organizations and intermediaries focused on improving social, economic, and environmental conditions in targeted communities have been identified
  • Community stakeholders are included in the design, selection, and promotion of place-based investments
  • Partnerships are developed with other large employers to tackle community-wide challenges, such as access to affordable housing, healthy food, childcare, and/or primary care

Data and Program Infrastructure

  • Areas of place-based investment focus are identified
  • Key principles and criteria for guiding place-based investments are outlined
  • Investments can be tracked and monitored internally and by auditors
  • Loan application, standard form documents, and other program materials are created
  • Desired rates of return, duration, and type of investments are formalized

Staffing and Interdepartmental Infrastructure:

  • Full- or part-time staff provide administrative, financial service, and legal support
  • Full- or part-time staff contribute mission, community health, or health equity perspective
  • Full- or part-time staff support relationship building and identifying investment opportunities

Diversity, Inclusion, and Sustainability Goals

  • Percentage of place-based investments benefit communities of color
  • Percentage of place-based investments benefit residents of low-income communities
  • Percentage of place-based investments support sustainability objectives

Decision-making Structure

  • Institutional “home” for program is identified, such as an interdepartmental place-based investment working group or committee
  • Place-based investment staff identify opportunities and undertake due diligence
  • Advisory committee reviews recommendations from place-based investment staff
  • Executive staff approve recommendations for place-based investment
  • Governance provides final approval of investment decisions (optional)

Board and Governance

  • The CEO and senior management regularly review place-based investment status reports
  • Governance regularly reviews place-based investment status reports, including narratives and financials
  • Hospital leadership participates in governance of community development financial intermediaries and other inclusive economic development partner organizations
  • Leadership participates in governance of nonprofit borrowers

Marketing the Program

  • A public-facing place-based investment brochure is developed and disseminated
  • A website exists explaining the program
  • Leadership and community-facing staff at local facilities understand and promote the program
  • Key community leaders are aware of the program

Scaling Local Impact and Building Community Wealth

  • Recurring evaluative process expands impact and scope of program
  • Institution assists in mapping gaps in access to capital within the service area
  • Institution assists with addressing capital gaps in low-income communities
  • Employees can participate in place-based investment and socially responsible investment through their individual retirement accounts and/or pension investments

Quick Practice Upgrades

  • Foster relationships between community outreach and investment staff
  • Move cash assets into local banks and credit unions
  • Engage key nonprofit partners
  • Join impact investment networks

Simple Policy Measures

  • Build a relationship with a CDFI
  • Allocate assets from investment portfolio for place-based investments
  • Connect capacity building with direct lending
  • Switch to an impact investment advisor