![]() Their partnership officially began in a small studio on the Lower East Side of New York. was made and Ivan’s third Museum project began upon return to New York. In Tokyo, a fortuitous connection to designers from the National Air and Space Museum in Washington, D.C. ![]() Elliot decided to go along for the ride, lend a hand and see the world. Ivan was just about to set off for Japan to install his second sculpture project, for a Space and Science Exposition in Tokyo. In 1979 Elliot returned to NY from Los Angeles where he had been living since graduate school. It’s always been collaborative, so we’re always looking for great clients with projects that continue to challenge us – that’s where the fun lies. Today we not only live in the well-trodden world of theġ9th century with our monument projects, but also in the 21st century with digital technology thatĪllows us to do things we would never have thought possible just a few years ago. Materials changed and technology with it. In the world of design - we did hundreds of projects. Restaurants and interiorĭesigners also called and in turn we called upon a very talented staff to help interpret new fashion Of museums that was undergoing a kind of renaissance in America. Our visual vocabulary has always been very broad and we became great interpreters for the world Of StudioEIS work throughout the country that traces its roots back to our Brooklyn studio. Now we’ve done so many projects that there is a small population Our parents thought it was a great thing. We were itinerant sculptors for years before deciding to commit and stay in one place. “That's the power of our particular brand of impact investing.StudioEIS has a long history and we’re not really that old. “We're essentially the shock absorber in the middle, the missing piece that we call the ‘but for’ money - meaning, but for our piece, they couldn't bring in the rest of the money,” she adds. Treasury Department Community Development Advisory Board and one of the founders of the Mission Investors Exchange. “We can give these institutions a cushion so that when an insurance company or a pension fund wants to invest, that investor can get a market rate of return and have enough risk mitigation,” says Schwartz, who is a past presidential appointee to the U.S. MacArthur invests in these institutions with a long-term horizon, in most cases planning an exit after 10 years. There are about 800 CDFIs in the nation, some of which focus on serving individuals (e.g., by providing payday lending, bank accounts, or affordable housing) and others that focus on small businesses (e.g., by bringing credit to businesses in low-income neighborhoods). Schwartz explains that, in the United States, there is an enormous need for community development financial institutions, or CDFIs. In fact, it’s not allowed under the IRS tax code definition of a Program-Related Investment.” “But if you do the kind of impact investing that I do, you can’t seek a market rate of return. With these investments, “there has to be some expectation of a financial return, whether it’s through a loan, equity investment or guarantee,” she says. MacArthur Foundation.Īt the MacArthur Foundation, Schwartz oversees a $300-million investment portfolio that supports economic development and affordable housing organizations in the United States. That experience set her down a path leading to where Schwartz is today, serving as managing director of impact investing at the John D. Schwartz found her answer in a class taught by Professor Donald Haider, who introduced her to the world of public finance and the ways in which industry and society could intersect for mutual benefit. “I was eager to learn how social-purpose organizations earned, raised and managed their money,” recalls Schwartz, who had worked in the nonprofit sector, mostly in human services, for several years prior to Kellogg. When Debra Schwartz ’88 came to Kellogg in the late 1980s, she had a keen interest in social enterprise - even though that term was somewhat foreign in the broader business community.
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