Catholic Health Initiatives, the parent company of St. Joseph Medical Center, Towson, invested $10 million in Calvert Social Investment Foundation (Calvert Foundation) Community Investment Notes in March.
The move reflects Catholic Health Initiatives’ focus not just on health care but on healthy communities as well.
“Our focus has always been on providing the best health care available – especially to underserved communities,” said Kevin Lofton, president and CEO of Catholic Health Initiatives. “We have been promoting the social good since our formation more than a decade ago by investing in organizations, such as the Calvert Foundation, that are committed to building healthy communities. This investment is especially appropriate for us because it is a major step toward helping to provide sustainable solutions to fighting poverty and improving the health of disadvantaged populations.”
The Calvert Foundation is a nonprofit organization that has created investment products that blend financial and social returns. With more than $170 million in assets, Calvert Foundation uses investment capital rather than conventional philanthropy to help nonprofit organizations, microfinance institutions and social enterprises address crucial social problems.
The investment from Catholic Health Initiatives is the single largest from a faith-based group to date.