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

• 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