Positive Social Purpose Investment Program (PSPIP) Statistics
During 2007, the Positive Social Purpose Investment Program:
- invested a total of $125,340,713 in projects with a positive social purpose
- made 90 individual loans
- created 4,455 units of affordable housing
- participated in loans to 4 charter schools
Placement of Loans
The loans made through the PSPIP are held in three of the General Board's funds. Participants support the initiative by holding shares of these funds in their retirement accounts administered by the General Board.
As of 12/31/2007, more than $600 million has been invested in the PSPIP. The percentage of the program’s total loans held in each fund is illustrated in the chart below.
Annualized Performance of PSPI Loans Held in the Domestic Bond Fund as of 12/31/2007
| |
1 Year
|
3 Year
|
5 Year
|
7 Year
|
10 Year
|
Inception**
|
| PSPIP Loans |
-6.9%
|
+1.1%
|
+2.1%
|
+4.8%
|
+5.9%
|
+6.5%
|
| Custom Benchmark* |
+1.9%
|
+2.7%
|
+2.8%
|
+4.9%
|
+5.4%
|
+6.5%
|
* The program's custom benchmark represents the collective performance of the benchmarks that have been used to track performance over the life of the program.
** The program's inception date is 07/31/1990.
Types of Community Development Loans Made in the U.S. as of 12/31/2007
| Types of Projects: |
Number of Loans Made |
Initial Dollars Invested |
| Assisted Living Facilities |
2 |
$1,842,318 |
| Charter Schools |
8 |
$14,453,070 |
| Community Services and Job Training |
1 |
$3,590,308 |
| Health Centers |
2 |
$8,250,518 |
| Homeless Shelters |
1 |
$14,543,735 |
| Mental Health Treatment Centers |
1 |
$365,265 |
| Single Room Occupancies (SRO) |
2 |
$639,095 |
| Substance Abuse Treatment Centers |
1 |
$1,765,652 |
Microfinance Performance as of 12/31/2007
Internal Rate of Return of the Program's
Microfinance Loans Since Inception* |
| 4.9% |
| * The program's inception date is 05/05/2005 |
The majority of the microfinance loans are placed in the General Board's Stable Value Fund.
|
