The Conversation (0)
Grant winners selected by OFN based on support of affordable housing and community development efforts
Morgan Stanley Investment Management ("MSIM") and Opportunity Finance Network ("OFN") today announced three grant recipients of MSIM's annual contribution to OFN's Finance Justice Fund, now called OFN's Financing Fund: GROW South Dakota, Community Health Center Capital Fund, and Twin Cities Habitat for Humanity Lending, Inc. The three community development financial institutions (CDFIs) focus on community development and affordable housing. The grants are funded by MSIM's annual contribution which is based on a percentage of client investments in its money market Impact Class and Impact Partner Class shares.
"Our continued partnership with Morgan Stanley Investment Management related to their Impact share class product line is accelerating the work of our expanding group of member CDFIs," said Harold Pettigrew, President and CEO of OFN. "The contributions to our member CDFIs have a material impact and drive improved outcomes for these well-deserving organizations supporting affordable housing and community development efforts in underserved communities."
MSIM's $450,000 contribution increased this year based on investor interest and brings the total OFN contribution to more than $1 million since the program inception in 2022.
"We are excited to see our annual contribution grow with increased market adoption and proud to support community development initiatives," said Fred McMullen, Co-Head of MSIM's Global Liquidity Solutions Business. "This unique share class facilitates positive change and allows us to witness the tangible, lasting effect this has in underserved communities."
The Impact Class and Impact Partner Class are share classes available in several of MSIM's money market funds. MSIM makes its own contribution to OFN based on the annual average assets in these share classes with the goal of providing support to organizations that focus on affordable housing and community development.
- GROW South Dakota provides housing, community, and economic development statewide through services to individuals, technical assistance to community and economic development agencies, and loans to small businesses and home buyers.
- Community Health Center Capital Fund (CHCCF) supports the growth and development of community-based health centers across the country, serving low-income and uninsured populations by providing capital structured to meet health centers' needs.
- Twin Cities Habitat for Humanity builds, rehabilitates and repairs homes, educates families about homeownership, provides mortgage counseling, and advocates for affordable housing in the seven-county metro area of Minneapolis and St. Paul, Minnesota.
MSIM selected OFN for its charitable contribution related to the Impact and Impact Partner Classes. OFN is the nation's leading network and intermediary focused on community development investment with a membership of over 475 CDFIs. Through the partnership, MSIM makes an annual contribution to OFN's Financing Fund, an OFN initiative that aims to bring capital from corporate and philanthropic partners to low-income, low-wealth communities.
About the Grant Recipients
GROW South Dakota provides housing, community, and economic development statewide through services to individuals, technical assistance to community and economic development agencies, and loans to small businesses and home buyers. GROW SD has had a broad and lasting impact. GROW South Dakota's debt funding program provides business and home mortgage loans paired with no-cost developmental services to low-income, low equity, and rural borrowers across the state of South Dakota. The grant award will be used for operations, capacity building, and technology to support the business and home lending programs and corresponding services.
Community Health Center Capital Fund (CHCCF) supports the growth and development of community-based health centers across the country, serving low-income and uninsured populations by providing capital structured to meet health centers' needs. It offers targeted direct loans to health centers for capital financing, equipment and operational requirements. CHCCF also provides underwriting services and helps facilitate favorable tax credit financing. CHCCF will use a portion of the grant funds to conduct outreach to small, rural and/or financially challenged federally qualified health centers that are experiencing funding and management issues exacerbated by the current funding challenges. The outreach will include the development of culturally appropriate marketing materials, market and field research to identify health centers that focus on serving these communities, and a marketing campaign to increase awareness of CHCCF's financing products and technical assistance offering.
Twin Cities Habitat for Humanity builds, rehabilitates and repairs homes, educates families about homeownership, provides mortgage counseling, and advocates for affordable housing in the seven-county metro area of Minneapolis and St. Paul, Minnesota. They are the largest affordable homeownership builder in their coverage area. They provide qualifying households the opportunity to purchase a home via their homeownership programs.
About Opportunity Finance Network
Opportunity Finance Network (OFN) is the nation's leading network and intermediary focused on community development investment, managing more than $1 billion in total assets and a membership of more than 475 community development financial institutions (CDFIs), which includes community development loan funds, credit unions, green banks, banks, minority depository institutions, and venture capital funds. Our network of CDFIs works to ensure communities left behind by mainstream finance have access to affordable, responsible financial products and services, with a deep focus on serving rural, urban, and Native communities across the United States. OFN is a trusted investment partner to the public, private, and philanthropic sectors – foundations, corporations, banks, government agencies, and others – and, for more than 40 years, has helped partners invest in communities to catalyze change and create economic opportunities for all.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals around the world and $1.7 trillion in assets under management or supervision as of June 30, 2025. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im .
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com .
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Media Relations:
Colleen McElhinney
Morgan Stanley Investment Management
617.672.8995
Bianca Prade
Opportunity Finance Network
202.615.1819
bprade@OFN.org
