The Massena Foundation now has a sister Donor Advised Fund with Impact Assets, a unique foundation that allows donor advisors to make recommendations on both the grant and the investment side so that both the capital and the cashflow can be leveraged to support social and environmental impact.

The investments below were selected with the goal of facilitating job creation and small business development.  One area of focus is the Northwest and Northern California. The other area of focus is job creation paired with personal development or social performance measurement.  This portfolio was constructed with the assistance of The Clarius Group.

"Note" investments are securities offered by the fund.  Direct loans are negotiated between the foundation and the organization. Both are forms of debt.

One Pacific Coast Bank

(Certificate of Deposit)

One Pacific Coast Bank is a CDFI, a certified 'B Corporation' and has a commitment to sustainable community development.

Self-Help Credit Union

(Certificate of Deposit)

WIth its partners, Self-Help provides financing, technical support, consumer financial services and advocacy for those left out of the economic mainstream. Self-Help is a national leader in consumer finance.

Express Credit Union

(Certificate of Deposit)

Express provides affordable financial services to low- and moderate-income people in Washington State; and in doing so, help them build assets and achieve financial stability.

Seattle Economic Development Fund (CCD)

(Direct Loan)

CCD provides technical assistance, training and loans for Northwest small businesses.

TeamWorks Services Peninsula Cooperative Business

(Direct loan done as a Program Related Investment)

TeamWorks is a cooperative housekeeping business that has now expanded into landscaping.

Cooperative Fund of New England


The Cooperative Fund of New England supports cooperative business development.

Craft 3

(Note, investment under consideration)

Lending and technical assistance for small businesses in the northwest.

Northern CA Community Loan Fund


The Northern California Community Loan fund supports small business development.

Farm Power NW

(Direct loan)

Farm Power Northwest converts waste to energy while providing additional revenue to Northwest dairy farmers.


(Microfinance Note)

Oikocredit is a global cooperative itself, based in the Netherlands. Oikocredit supports microfinance institutions worldwide and has invested heavily in social performance measurement.

Global Partnerships

(Microfinance Subordinated Debt - Note Planned)

Global Partnerships invests in microfinance organizations in Latin America that emphasize rural development, health services, green technology and microentrepreneurship. Global Partnerships is based in Seattle.

RSF Social Finance PRI Fund

(investment under consideration)

Program Related Investments count towards a foundation's grant budget in the year they go out. The principal, if returned, cannot be reincorporated into the endowment but any additional return can be. Some foundations are interested in PRIs as a way to keep up current payout rates while supporting a goal to exist in perpetuity.

Rush Creek Lodge

(Direct Equity Investment)

Rush Creek Lodge is a proposed replication of the successful Evergreen Lodge, which provides supportive employment opportunities to troubled urban youth.