Investing In Topeka
MARSHA POPE | President | Topeka Community Foundation
JOBS + QUALITY OF PLACE
Traditional economic development is focused on jobs. But times have changed. Now—in addition to job creation, economic development leaders in our community talk about quality of place. Inclusive prosperity. Economic opportunities for all. Leaders have a more holistic definition of economic development which includes the notion that community development is economic development.
Examples of this include Stormont Vail Health’s commitment to population health. This leading health care organization focuses not only on patients inside the walls of their buildings, but works with other organizations in new and creative ways to better the health of all residents in our community.
Another example is the City of Topeka. We often think of a city as providing services like clean water, code enforcement and building inspections. Our city is leading a collective impact model to reduce student homelessness.
PHILANTHROPY EXCELLENCE
Is there a role for philanthropy in economic development?
Yes. Smart philanthropy can strengthen job opportunities, support innovative ideas and improve public understanding of economic issues like affordable housing and childcare.
Excellence in philanthropy is measured by results—not good intentions. That’s why impact—both how we measure it and how we deliver it—is so important.
At its most basic level, philanthropy has always been about directing financial capital to solve social problems. Traditionally a grant maker, the Topeka Community Foundation has granted almost $100 million to important programs and projects in our community during our 40-year history. From the arts to youth sports, our reach has been broad and our partnerships have been many.
Recently, however, we unlocked additional capital by adopting policies which provide dollars to literally invest in local nonprofit organizations and for-profit businesses who have bold, creative and sustainable solutions for issues of importance in our community.
REDEFINING RETURNS
We believe we can achieve attractive financial returns while contributing to meaningful economic progress. We believe we have a distinct responsibility to redefine the definition of “returns” to include both a financial and social return—all while advancing our mission.
If, as a community, our goal is economic prosperity for all, we must expand our imaginations and our arsenals—strategically investing our time, talent and treasure in transformative ideas that benefit both our community and our bottom line.We must seize the opportunity to be agents of change and courageously build a strong community for today and generations to come.
TK
