The Community Foundation has now entered in to 4 impact investments. Here is a good article from the NY Times describing benefits of this approach.
When the W. K. Kellogg Foundation set aside $100 million in 2007 to invest in companies that could produce both social and financial benefits, it was considered revolutionary. Historically, major foundations had used mainly stocks, bonds, real estate and other traditional asset classes to build their endowments.
Now, such investments are increasingly common — and profitable.