Foundation research

Riverside CID Launches Social Investment Foundation

City Improvement Districts are inherently collaborative in nature and lend themselves to the development of partnerships. Riverside CID sought to leverage this strength to establish a social investment foundation entity to mobilize the collective generosity of Riverside to make a difference in and around Riverside and beyond.

The CID is a force for good and therefore, at the heart of the foundation is to facilitate catalyzing and sustainable initiatives of community well-being and development. “We are proud to have started a foundation that focuses on helping the most vulnerable and hope to make a valuable contribution to society,” said Sabine Walker, President of the Riverside CID Social Investment Foundation.

Investments of all kinds go well beyond one-time monetary contributions. Our experience has taught us that many companies are gradually aligning their social investment strategies with their business strategies, creating synergies that can bring indirect benefits to the business, such as a better reputation or access to new markets.

By mobilizing social awareness, consciousness and capital, the foundation will channel action and contributions into projects that are developmental in nature and that foster partnerships as well as projects that enhance the reputation and brand image of Riverside CID and of its members. “Our goal through the foundation is to ensure projects are measurable and managed,” said Gary Phillips, program manager for the Social Investment Foundation.

Having started his career in industrial and economic research in South Africa and the region beyond, with a focus on developing and building the economy, Phillips has helped numerous not-for-profit organizations, rural and urban communities, churches and local businesses before joining the team. Since his appointment as program director, he has spearheaded many projects undertaken by the foundation and laid the foundations for its growth.

Riverside Park CID manager Shivon Wiggins spoke fondly at the launch. “This is just the beginning and there are only good things ahead for the foundation.”

Although in its primary phase, the foundation is Section 18A compliant, operational, and currently running numerous projects with nonprofits that are already making a difference in communities. For more information about the foundation or to discuss its work, contact Phillips at [email protected].

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