Deploying & Leveraging Philanthropic Dollars for Maximum Impact

As a leader in outcomes-based financing, CSH has paved the way for investors to fully understand the social impact of their capital investments. Philanthropic dollars can be leveraged with the same rigorous focus on positive social outcomes through these three strategies:

Accessing Capital                                                                                                                              

As a nonprofit CDFI, CSH understands both financing and supportive housing. In addition to helping organizations connect to other lenders, CSH puts its money where its mouth is and has invested its own capital as financing. In addition, we support our investees through sector-specific knowledge and resources that add expertise to a project or organization.

  • Accessing outcomes-based service financing including capital for Pay for Success contracts, Value Based Purchasing Medicaid contracts, and other performance-based contracts. CSH can determine whether your project is a good fit for our investment and can connect you with other investors if your needs more closely align with a different resource.
  • Accessing loans for other upfront costs is an option for providers with strong track records of delivering supportive housing and measuring its impact. For example, if you are shifting to Medicaid billing to reimburse some costs, you may need cash to prepare for this new revenue stream and CSH can help.
  • Accessing pre-development and acquisition loans for housing is the forte of our Community Investment team, which can be reached at

Case Studies

  • Structuring $10 million of philanthropic and institutional investment into the Los Angeles Pay for Success transaction: CSH worked with the Conrad N. Hilton Foundation and United Healthcare to deploy their funds in a Pay for Success transaction that was launched in October 2017. If the project is successful in housing 300 individuals and reducing their rate of re-arrests, both investors can expect a repayment that covers their initial investment and a modest return on capital.
  • Investing CSH Funds in t Social Impact Bonds: The Massachusetts Pay for Success contract launched in 2014 with $500K of investment from CSH has housed 640 tenants. To date, 93% of the tenants are either still enrolled in the program or have had a qualified positive exit. The project has met the contractual minimum obligations, and a total amount of $934,983 in success payments has been made to investors. CSH also invested $500K in the Santa Clara Social Impact Bond, which launched in August 2015.
  • Supporting Chicago and Cook County to develop a flexible capital pool for supportive housing: The City of Chicago and Cook County are working with CSH to increase access to affordable housing and services through the creation of a Flexible Housing Pool (FHP). Modeled after a successful initiative in LA County, the FHP will place health-driven partnerships in leadership roles to fund housing solutions, facilitating new investment from non-traditional, cross sector sources. CSH Chicago staff are supporting the contractual and conceptual development of the pool, which is expected to move into implementation in June 2018.
  • Deploying over $700 million in loans and grants to support the creation of supportive housing: CSH has a long history of pooling funds through its lending program for maximum impact, and in particular through the $45M Solutions Fund with initial investment from Conrad N. Hilton and Robert Wood Johnson Foundations, Bank of America, Deutsche Bank, HSBC Bank and Morgan Stanley.
  • Supporting philanthropic funding to have greater impact through housing development: CSH is contracted with Houston to manage over $10M used in the Permanent Supportive Housing Capital Grant Fund, which was created to harness private philanthropic investment to rapidly fill development capital gaps in supportive housing projects in the Houston PSH Project Pipeline.

CSH has experience structuring and investing capital, as well as supporting providers to access appropriate forms of capital. Please contact us at



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