Through its foundation, Dallas-based financial services group ORIX USA Corp. will provide $250,000 in capital to Good Returns, a Dallas-based hybrid social enterprise that makes loans to impact organizations.
Good Returns will use the funds to help organizations scale sustainable programs that align with the ORIX Foundation’s main focus areas of basic needs, children, education, empowerment, health, and veterans, according to a release.
“This partnership will establish a new and effective way for companies and corporate foundations to mobilize more of their resources for doing good in their communities,” Good Returns President Kyle Lukianuk said.
GOOD RETURNS’ FUNDING IS A ONE-YEAR, INTEREST-FREE LOAN
The funding comes in the form of a one-year, interest free loan, called a “cycle”— the first-ever cycle for Good Returns from a multinational corporation.
“In-line with the values established by ORIX, our foundation seeks financially innovative models that maximize the impact we create in our local communities—something we’ve certainly found in Good Returns,” ORIX Foundation Director Carol Greene said in the release. “Our partnership in this new program will empower other companies and corporate foundations to do the same.”
Good Returns has built infrastructure to facilitate bigger investments from larger companies after four years of successful Cycle programs with its partner organizations.
“Our partnership in this new program will empower other companies and corporate foundations to do the same.”
Carol Greene
It sought out the ORIX Foundation because of what Good Returns said is a mutual dedication to increasing social impact through innovative solutions to pressing community challenges.
So far, the ORIX Foundation has invested more than $12 million in solutions to complex community issues. Good Returns uses corporate capital to make interest-free and fully guaranteed loans to the most-promising impact organizations that are aligned with the participating company’s impact priorities, the release sad.
In addition to funds, the Cycle also provides a way in which customers, employees, and other company stakeholders share the stories of “impact-growing awareness and creating action,” the release said.
The selection of recipient impact organizations for the ORIX/Good Returns Cycle is being finalized, the release said, and it will be announced in coming weeks.
READ NEXT
Follow the Money: Cyber Watch Gets $2.5M, Bank Makes Equity Investment in Modo Payments
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
The Dallas Education Foundation is being recognized for driving the creation of an “educational metaverse” for DISD. Developed by Dallas-based STEMuli Technology, the metaverse is currently being piloted at Dallas Hybrid Prep, the district’s first permanently hybrid school. The STOP Awards, funded by Philadelphia benefactor Janine Yass, will provide a total of $3.5 million in prizes for exceptional educational responses during the COVID pandemic.
-
Oprah's Foundation Gives $1M to Teach For America for Students' and Teachers' Social‑Emotional Needs“The impact of this gift will be enormous,” Jessica Guthrie, chief program officer for Teach For America Dallas-Fort Worth, told Dallas Innovates. “By using her platform, Ms. Winfrey has been able to draw attention to the national issue of teacher burnout and the tools available that can help."
-
With the grant comes the launch of the Women’s Workforce Readiness Initiative. The project's goal is to provide holistic, sustainable support for women’s career success in high-growth industries. The initial plans include providing 550 women in Southern Dallas with support over the next three years.
-
The 2022 Maura Women Helping Women and Young Leader awards celebrate leaders who have helped, in a variety of ways, lift up women and girls. At the April 26 event, the recipients will discuss their leadership journeys and the issues which drive their passions. Meet all seven women—and the keynote speaker too.
-
The private donations by local companies and foundations are for the Dallas R.E.A.L. Time Rapid Rehousing initiative. Its goal: house more than 2,700 homeless people and families over the next two years. The $10M in private funds will complement $62M in federal funds allocated by local governments and DHA, the North Texas housing authority.
