May 2002

New Direct Community Investment
Helps Children


Through its Direct Community Investment Program, Catholic Health Initiatives has approved an investment of $500,000 in the Development Corporation for Children of Minneapolis, Minn., a revolving loan fund that provides low-interest loans to childcare businesses that serve low- and moderate-income families in Minnesota.

The mission of the Development Corporation for Children is to help children thrive and learn by forging relationships that bring economic power and viability to the business of childcare. In Minnesota, 65 percent of working women have one or more children who are under six years of age. Currently, the state’s childcare system has about one space for every two children who need care. Catholic Health Initiatives’ investment will help the Development Corporation for Children provide loans to childcare businesses that will increase the availability of childcare services in the state.

With this investment, the Direct Community Investment Program has provided a total of $17.5 million in loans to organizations that make affordable housing, jobs, childcare and other services more accessible to low-income and minority populations. Catholic Health Initiatives is committed to provide a total of $45 million to provide community-based organizations with two percent of its total operating program assets in loans through the Direct Community Investment Program.

For more information about direct community investments, contact Jennifer Neppel, director of cash and investments for Catholic Health Initiatives, at
jenniferneppel@chi-national.org.