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Inside this issue:

CAIF Update 2

CONC: A case study 3

CAIC AGM 2015

This and That

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CAIC @ CSI Regent Park

585 Dundas St. East, Suite 300

Toronto, ON M5A 2B7

T: 416-467-7797

caic@caic.ca

www.caic.ca

BUILDING A SUSTAINABLE FUTURE!

C AIC has a unique history and

place in the social finance sector

in Canada. Since the co-op was

founded in 1984, CAIC has provided 18

million dollars in loans for nonprofits,

charities, cooperatives and social enter-

prises focused on social justice initiatives

across Canada.

Building on the Impact Assessment that

was produced in celebration of CAIC’s

30 years as a social lender, in 2015 we

engaged in a deeper research initiative

with both past and present borrowers

in order to determine:

the impact of CAIC’s loan on the

borrower’s operations;

the impact on the borrower’s finances;

what they would say to someone

thinking of borrowing, and

whether they would do it again.

We were pleased to not only discover

that many of our earlier borrowers

were still thriving, but that they

stressed CAIC’s support had been critical

to their organization’s sustainability.

Here’s a sample of what our borrowers

had to say:

“CAIC’s loan helped us leverage another

$500,000. An approval from CAIC was a

strong vote of confidence for our project.”

Pillar Non-Profit, London, ON

“CAIC’s loan was a critical factor. With-

out it we would not have had sufficient

capital to purchase the building..it

would have been sold on the open market

creating an uncertain future for the

cooperatives running from there.”A-Zone,

Winnipeg, MB

“We were not eligible for a mortgage

with any of the major financial

institutions. CAIC’s financial support and

flexible terms allowed us to purchase

our residence for the program and pay

off our mortgage sooner.” Mater Dei,

Toronto, ON

“CAIC’s loan allowed us to provide more

micro-loans and as a result support the

economic development of our region

through the creation of jobs.” Accès

Micro-Crédit Gaspésie, Bonaventure, PQ

“CAIC understands non-profit charity

financial issues. The CAIC loan “felt” good,

as we knew that the interest paid would

be going back into other good works!”

Brock Street Mission, Peterborough, ON

“CAIC’s loan permitted us to grow our

women’s shelter from 4 beds to 25 beds.

Having the capacity to build equity

created a stable financial position for

our organization, demonstrating fiscal

responsibility to potential funders and

building our long term viability.”

Elizabeth Fry Society, Barrie, ON

Kudos— Sr. Patricia Boucher

CSJ (CAIC Vice-President) and Don

Middleton (CAIF Vice-President)

thanked on behalf of the

CAIF/CAIC boards the following

CAIC members for their

donations throughout the

year (2015):

Grey Sisters of the

Immaculate Conception

Jesuit Fathers of Upper

Canada

Les Filles de la Sagesse

Loretto Sisters

Saint John Neumann

Foundation

Scarboro Missions

Sisters of the Cross

Srs. Of the Holy Cross

Srs. Of Providence of St.

Vincent de Paul

Srs. Of St. Joseph

(Toronto)

Ursuline Religious of the

Diocese of London

These donations have served

as a building block for CAIF’s

permanent endowment,

ensuring that social agencies

unable to obtain financing

from conventional financial

institutions will continue to

have an accessible and

affordable source of capital,

along with technical assistance

& capacity building grants that

help ensure that charities are

successful in their ventures.

The generosity of these

“Legacy Donors” has enabled

the foundation to approve

four loans and provide eleven

grants. For more information

visit CAIF’s website at

www.caifoundation.ca

2016 is already off to a good

start thanks to the following

members for making a new

donation and/or donating

their 2015 earnings in CAIC to

the Foundation:

Basilian Fathers

Grey Sisters of the

Immaculate Conception

Jesuit Fathers

Les Filles de la Sagesse

Loretto Sisters

Saint John Neumann

Foundation

Scarboro Missions

Sisters of the Cross

Ursuline Religious of the

Diocese of London

CAIF Borrower Presents

at CAIC AGM 2015—

“CAIC was the first lending

institution to ask us about the

social value of our work in

assessing our suitability for a

loan” said Hasina Quader,

Board Chair of the

Bangladesh Centre and

Community Services.

She expressed gratitude on

behalf of the centre and

welcomed CAIC members to

the space.

CAIF Update

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Front Row (L –R) - Don Middleton, Fr. Paul Hansen,

CSsR & Sr Pat Boucher, CSJ thank CAIF Legacy

Donors 2015– (L-R) Sr. Carmen Diston, IBVM,

Karen Van Loon, Sr. Fay Edmonds GSIC and Sr. Nida

Fe Chavez, CSJ.

CAIF Board President, Fr. Paul Hansen

thanks Hasina Quader, BCCS Board Chair for

her presentation on the impact of CAIF’s

loan.

Case Study: The Christie

Ossington Neighbourhood

Centre (Toronto, ON) - The

following case study (excerpted

for this newsletter) was featured in

a SIG@MaRS series exploring

impact investing in the Canadian

context.

The Christie Ossington Neighbour-

hood Centre (CONC) could be

described as a jack-of-all trades

community center. Founded in

1994 to serve one of

Toronto’s west end

neighbourhoods, CONC

provides services and

programming to high-

needs children, at-risk

youth, homeless men

and women, vulnerable

community members

and newcomers to

Canada. CONC’s

Transitional Housing

program provides

temporary housing and

support services for clients that

are working to overcome difficult

life circumstances and working

towards permanent housing

solutions.

In 2002, CONC was in danger of

losing the building occupied by

their Transitional Housing program.

They were renting the building

and the owner wanted to sell.

CONC board members made the

decision to purchase the building.

First, Executive Director Lynn Daly

approached Canada’s mainstream

financial institutions for mortgage

financing. However, she found

that those institutions were

“unaware of how to deal with the

needs of the not-for-profit sector”.

CONC needed to find an alternative

source or risk losing the building.

Through their network of non-

profits, CONC discovered the

Canadian Alternative Investment

Cooperative (CAIC). Formed in the

early 1980s, CAIC is an investment

cooperative that helps to fill the

gaps left by traditional financial

institutions by making investments

that support positive social change

and promote alternative economic

structures.

CAIC invests in organizations

working in the field of social

justice, with the primary objective

of helping borrowers to further

their missions. CAIC works closely

with borrowers, performing due

diligence and site assessments in

order to provide loans that are

tailored to the needs of the

organization.

Beth Coates, Financial Manager

credits CAIC’s extremely low

default rate to these close working

relationships. “We work really

hard to reduce the risk as much as

we can, sometimes in unconventional

ways, so that we can charge a

lower rate of interest and provide

flexible terms”, she says.

In March 2002, CONC

received a loan to purchase

the Bloor Street building.

Lynn Daly acknowledges

the vital role that CAIC

played in enabling CONC

to continue to provide

valuable services to

marginalized individuals

in the community. “You

have to find a partner

that will not micro manage

you and lessen your ability

to be a force for

change….. Money can create

deprivation but social finance can

be used to create social benefit.”

Editor’s Note: CAIC provided

two loans to CONC—the first in

2002 facilitated the purchase of

the Bloor Street building and the

second in 2003 provided

financing for the construction

for a 20 unit transitional housing

facility on Lansdowne Avenue in

Toronto. Both loans have since

been fully repaid.

CAIC/CAIF PROJECTS

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CONC—Another community project financed by CAIC. (Photo taken in 2003)

CAIC’s work demonstrates the value of social lending

alt

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AGM 2015—This year’s theme

“Building a Sustainable Future”

provided an opportunity for

CAIC members to visit one of

our sister organization’s (CAIF)

recent loans and hear about the

positive impact having access to

affordable capital has had on that

organization. Members also

received an update on CAIC’s

lending activity for the past year

and heard how both the CAIC

and CAIF boards are working

together to build a sustainable

future for both organizations.

Introducing CAIC Board 2016–

CAIC bids adieu to Fr. Paul Hansen

CSsR and welcomes Sr. Fay

Edmonds, GSIC to CAIC’s Board of

Directors 2016. Sr. Fay joins

President, Moira Hutchinson,

TRINITY-ST. PAUL’S UNITED CHURCH , Vice-

President, Sr. Pat Boucher CSJ, Fr.

Bob Holmes, CSB and Treasurer,

Arlene Kubiak, (SRS. OF ST. JOSEPH IN

CANADA).

Member Investments—Thank

you to the following CAIC members

for reinvesting their earnings in

CAIC and/or making an additional

investment in 2015: Congregation

of the Sisters of St. Martha, La

Congrégation des Soeurs de

Sainte-Anne, Srs. of Charity of the

Immaculate Conception, Srs. of

Charity of St. Vincent de Paul (NS)

and the Srs. of the Holy Cross of St.

Joseph’s Province.

Page 4

THANK YOU

FOR JOINING US FOR

AGM 2015

Basilian Fathers ~ Fr. Bob

Holmes

CFSC—Mr. Don Alexander

Grey Sisters of the Immaculate

Conception ~ Srs. Fay Edmonds

Felician Sisters—Sr. Mary Jean

Sliwinski

Loretto Sisters ~ Sr. Carmen

Diston & Ms. Mary Anne Leon

Saint John Neumann Foundation

~ Mr. Marwan Al-Turk & Fr.

Paul Hansen

Scarboro Missions ~ Ms.

Karen Van Loon

Srs. of the Precious Blood ~ Srs.

Linda Thompson & Arlene Bondoc

Sisters of St. Joseph in Canada ~

Sr. Joan Atkinson, Sr. Loretta

Manzara & Ms. Arlene Kubiak

Sisters of St. Joseph (Toronto) ~

Srs. Nida Chavez & Pat Boucher

Sisters of Service ~ Mr. Desmond

Wilson

Trinity - St. Paul’s U.C. ~ Ms.

Moira Hutchinson & Mr. Don

Middleton

THIS AND THAT

Moira Hutchinson thanks outgoing

President Fr. Paul Hansen for his

commitment to ensuring a sustainable

future for CAIC.

CAIC Members at AGM 2015—Bangladesh Centre

and Community Services (above & below)

For more information

on CAIC’s lending

streams, current & past

borrowers, frequently

asked questions etc…..

Why not visit us at

www.caic.ca?