FORT LAUDERDALE, FL – As a nearly perfect example of public/private partnership for the benefit of communities in need, the Andre Agassi Charitable Foundation recently borrowed $13 million from the City of Las Vegas to help disadvantaged kids in Las Vegas’ Clark County, Nevada. CRAFund Advisors, a mission-based money manager with portfolios of community development investments, purchased a portion of the bonds that financed the loan. The partnership stands as a clear demonstration that private enterprise is an ideal steward for advancing community development and that the capital markets have much to contribute to the process.

The Foundation will use the proceeds from the bond issue toward construction of a charter school serving disadvantaged youth as well as to support Child Haven, a facility that provides temporary care and treatment for abused, neglected and abandoned children.

Students at the charter school, all from low socio-economic backgrounds, do not pay any tuition. In addition, they receive free lunches and may potentially be able to access medical care provided by a local hospital. The safe, healthful environment that the school provides to these economically challenged young people aims to lower dropout rates, increase their self-esteem, and provide for greater career opportunities than they would otherwise have.

The Child Haven allocation supports the only public shelter for abused and neglected children within Clark County. The facility, operated by the Department of Children Services, also provides schooling and medical care for children ages 3 days to 18 years. Without the services available at Child Haven, many of the kids would be left without any resources.

The Power Of The Capital Markets

None of the social benefit provided by the Foundation could have been made possible were it not for the financial resources of investors such as CRAFund Advisors. The Florida-based money manager and registered investment advisor to the CRA Qualified Investment Fund, invests in high credit quality, fixed income securities that advance community development.

“We look for important, meaningful programs such as the Las Vegas charter school – programs that have a direct impact on kids and families who would otherwise be left ‘out in the cold.’ Plus, the securities we purchase have to provide competitive returns and high credit quality,” said Alyssa Sibley, CFA, Director at CRAFund Advisors. “The foundation voiced its needs, our firm and others came in and met those needs, and the City of Las Vegas facilitated the deal.

Sibley encourages other non-profits and charitable organizations to seek partners that can help find the capital they need to meet their goals. “Investors are out there. But it takes a ‘partnership mentality’ to make it happen,” said Sibley. “We want to make their dreams into realities, so we would welcome the opportunity to work with other foundations – to bring their capital needs to market, identify an appropriate issuing authority, and work to convert their ‘needs’ into ‘opportunities.’”

Las Vegas Economic Development VRDN due June 1, 2028 representing 0.25% of the Fund’s portfolio as of 9/30/03. Holding is subject to change. This is not an offering, which can be made by prospectus only. For more information about investing in the Community Reinvestment Act Qualified Investment Fund, contact CRAFund Advisors at 1-877-CRA-1977. Please read the prospectus carefully before investing or sending money. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that shares when redeemed may be worth more or less than the original cost. The fund is not available to residents in all states. Citco-Quaker Fund Services, Inc., member NASD, distributor.

CRA Qualified Investment Fund

CRA Qualified Investment Fund

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