The board had a discussion about its roles and responsibilities, and concurred that its primary responsibility is to serve the greater good of the community as the board determines it to be, rather than responding to the voices of individuals - including members of our own club - who are influenced by their personal beliefs. All of us on the board are inspired by your support in electing us to oversee the investments Rotary Charities makes in our community. We've changed the language in our roles and responsibilities document to reflect our ongoing commitment to good stewardship of our resources in the name of the community, guided by the 4-Way Test.
Also, we have expanded our portfolio of Regional Impact Investments, targeting intermediary financial institutions to provide capital for regional opportunities yielding financial and community return. An investment of $500,000 has been made in Michigan Community Capital, which provides equity and patient capital for the development of workforce housing. This is our third investment. We have also invested in IFF, which fill gaps in nonprofit lending, and Venture North, a Community Development Financial Institution in our region providing capital to startup and growth businesses.