SUMMER 2022 / REAL-LEADERS.COM 81 LEADING LEADERS “It’s centered around group economics, and the common thread is the greater good and giving back. We’re investing together, building our networks, and finding creative ways to give back to our communities.” — DERRICK MORGAN For example, Morgan has made several impact investments — including affordable housing developments in Nashville and a venture investment in Fresno-based Bitwise Industries, a LatinX-founded tech training and consulting company that works with underserved populations in underdog markets. Other athletes have also done impact deals but now are joining forces through the Hometown Fund, a pooled donor-advised fund at ImpactAssets. By bringing multiple donors together, the fund unlocks catalytic investment capital. It leverages the off-the-shelf architecture of donor-advised funds to create fast, strategic constructs with deep impact capabilities. “Part of our education around impact and giving back to the community is to point out that this doesn’t have to be a traditional philanthropic effort; it could be a double-bottom-line return type of format,” Morgan says. “ImpactAssets represents a very creative resource for our members in terms of giving back and caring for the community they come from. We want to help the guys fulfill their desire to benefit the community and find creative ways outside of the traditional playbook for athletes to get into the community.” I AM Nation also sees the potential for a network effect with the Hometown Fund. With the fund providing seed money for impact investment, Morgan and other members are developing partnerships that can complement and anchor their efforts. “We don’t have institutional money amongst us, but there are foundations and institutions that do,” he says. “This is a partnership model with strong allies, including fans, friends, and financial services that can form a network of support for impact investments.” But whether it’s affordable housing investments or pooled impact capital in The Hometown Fund, Morgan is crystal clear on what he wants to achieve: “I want results. Capital is a critical piece of the puzzle in terms of moving the needle on many systemic issues. That’s why I gravitated toward the impact investment route because capital gets things done. Whatever else you want to say about it, money moves the needle.” n Amy Bennett is the chief marketing officer of ImpactAssets.
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