Educational Resources Impact Fund at Maycomb Capital closes flexible, mission-aligned loans to increase access to high-quality instructional materials
BALTIMORE, Dec. 7, 2022 /PRNewswire/ -- This week at the Mission Investors Exchange National Conference, Maycomb Capital announced the first loans out of a new, flexible, mission-aligned debt vehicle called the Educational Resources Impact Fund (ERIF). ERIF is one of Maycomb Capital's Custom Strategies and supports nonprofit developers and providers of high-quality instructional materials and aligned supports, particularly those offered as open educational resources. The first two loans were made to Illustrative Mathematics and CenterPoint Education Solutions.
- ERIF is one of Maycomb Capital's Custom Strategies and supports nonprofit developers and providers of high-quality instructional materials and aligned supports, particularly those offered as open educational resources.
- The mission of ERIF is expand access to high-quality instructional materials for more students, particularly those who are Black, Latino, English learners, or affected by poverty.
- "The Educational Resources Impact Fund effort really grew out of these Foundations' long-standing commitment to working towards better educational outcomes," said Andi Phillips, Co-Founder and Managing Partner at Maycomb Capital, who leads its Custom Strategies.
- ERIF is a $20 million pilot fund that aims to support nonprofit developers and providers of high-quality instructional materials, particularly those offered as open educational resources.