A person or institution investing into companies,
organizations, and funds to generate measurable social and
environmental benefits alongside financial returns.
impact investor
/ 'im-pakt/ /in,’vest,or/ :: noun
Our Mission
An impact investor, ECGRA's mission is to elevate Erie
County by galvanizing nonprofits toward economic and
community development. Since February 2008, ECGRA
has invested more than $38 million in Erie County
thanks to the pioneering leadership of members of Erie
County Council and the ECGRA board of directors and
staff.
ECGRA takes its role as Erie County's economic development authority seriously.
For the past five years, we've been studying foundations, communities, and experts leading the impact investing movement.
In 2014, we adopted an Impact Investing Policy and soon began investing in companies, nonprofit organizations, and funds expected to generate social, cultural, environmental, and financial returns for Erie County.
This year was no different. From April 2015 through March 2016, ECGRA invested $5,266,920 in 76 countywide organizations via 109 grants – all awarded and measured according to impact in five key areas.
Impact
Small Business
$1,275,000
Invested Via
Ignite Erie
Impact
Education & Youth
$344,597
Invested In
Shaping Tomorrow Grants, School District Endowment, Challenge Grant, Summer Jobs and More, Eagle's Nest Pilot
Impact
Quality of Place
$2,139,332
Invested In
Community Assets, Special Events, Human Services, Lead Assets
Impact
Municipalities
$1,376,490
Invested In
Local Government, Development
Impact
Neighborhoods & Communities
$131,500
Invested In
Mission Main Street
| Assets | |
| Checking Account | $28,341.48 |
| Savings Account | $13,032,431.09 |
| Accounts Receivable* | $2,350,000.00 |
| Prepaid Expenses | $7,900.00 |
| Total Assets | $15,418,672.57 |
| Equity | |
| Beginning Balance | $14,553,537.56 |
| Net Income | $865,135.01 |
| Grants Issued | $4,316,919.58 |
| Community Assets | ($154,045.00) |
| Human Services | ($148,554.00) |
| Ignite Erie | ($275,000.00) |
| Lead Assets Endowment | ($1,659,714.47) |
| Local Government Development | ($1,376,490.11) |
| Mission Main Street | ($131,500.00) |
| School District Foundation Endowment Challenge | ($34,680.00) |
| Shaping Tomorrow Collaborative | ($166,667.00) |
| Special Events | ($177,019.00) |
| Special Projects–Brookings Institution | ($50,000.00) |
| Summer Jobs & More | ($118,250.00) |
| Youth & Education Pilot Program | ($25,000.00) |
| Total Equity | $15,418,672.57 |
* Includes Ignite Erie Mission-related Investments
$5.3M
Invested
76Organizations
109Grants
Board & Staff Members
Board of Directors
Chair David S. Sample, owner, Corry Lumber Company Inc.
Vice Chair Michael J. Paris, owner, Paris Homes
Secretary David H. Yaple, owner/operator, Pine Avenue and Lawrence Park Dairy Queens
Treasurer Charles J. Peters, managing partner, Altair Real Estate Services
David M. Bagnoni, instructor, University of Phoenix
Dale E. Barney, production, General Electric Transportation
James T. Domino, president, Domino Insurance Agency
Jay A. Breneman (ex-officio), member, Erie County Council
Gary N. Lee (ex-officio), director of administration, County of Erie
ECGRA Staff
Perry N. Wood, executive director
Tom M. Maggio, grants manager
Diane K. Kuvshinikov, executive assistant
Many thanks to Consultant Amanda P. Burlingham and Jenny Poff of Presque Isle Designs for helping us showcase the impact of ECGRA grant money at work in Erie County.