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Community Foundation of Eastern Connecticut
The Community Foundation of Eastern Connecticut was founded in 1983 to pool charitable assets for New London and the surrounding 41 communities.
Community Foundation of Eastern Connecticut
The Community Foundation of Eastern Connecticut was founded in 1983 to pool charitable assets for New London and the surrounding 41 communities. Maryam Elahi has been President and CEO for over a decade, guiding the foundation through an expansion of both its grantmaking programs and its investment infrastructure. The foundation partners with Dalio Philanthropies on youth development initiatives and collaborates with the William Caspar Graustein Memorial Fund on equitable resource distribution. The foundation’s investment strategy centers on distressed debt, allocating capital across a mix of private credit vehicles, private equity fund-of-funds, private real estate income funds, and hard-asset investments. The portfolio also includes direct commercial real estate, such as the foundation’s own headquarters at 68 Federal Street in New London. Grantmaking partners include the United Way of Southeastern Connecticut, with which the foundation co-operates the Neighbors for Neighbors Fund for emergency community relief. The Community Foundation Mission Investments Company LLC serves as a dedicated co-investment entity, enabling the foundation to participate more directly in mission-aligned deals. The foundation maintains accreditation under the National Standards for U.S. Community Foundations and holds membership in the Connecticut Council for Philanthropy and the Council on Foundations. Its philanthropic structure includes targeted funds like the Brighter Futures Fund for Our Kids, the Fund for Racial Justice, and the Women & Girls Fund. The foundation’s structural differentiator is its combination of a permanent endowment model with a distressed-credit investment posture — an unusual pairing for a community foundation. Rather than outsourcing the portfolio to a single OCIO, it runs a diversified in-house allocation that includes private debt, hard assets, and a mission-investment company, keeping the investment engine closely tethered to its 42-town geographic mandate.
General information
Firm type
Endowment / Foundation
Year founded
1983
Location
Region
North America
Country
United States
City
New London
Corporate office
68 Federal Street, New London, CT 06320, United States
Principals
Maryam Elahi
President & CEO
Margaret O'Shea
Board Chair
Sector focus
Frequently asked questions
Who makes investment decisions at the Community Foundation of Eastern Connecticut?
The foundation’s investment decisions are overseen by the Board of Trustees, chaired by Margaret O’Shea. Maryam Elahi, as President and CEO, leads the foundation’s overall strategy including the integration of the investment portfolio with long-term grantmaking objectives.
How does the Community Foundation of Eastern Connecticut structure its investment portfolio?
The foundation pools its assets into a permanent community endowment and allocates across distressed debt, private equity fund-of-funds, private real estate income strategies, and direct hard-asset investments. It also holds direct commercial real estate, including its headquarters property in New London.
What is the Community Foundation Mission Investments Company LLC?
The Community Foundation Mission Investments Company LLC is a related investment entity that enables the foundation to participate in mission-aligned co-investments. It provides a separate vehicle for deploying capital alongside partners while supporting the foundation’s charitable mission across eastern Connecticut.
Does the foundation run program-specific funds alongside its main endowment?
Yes. The foundation operates several targeted philanthropic funds, including the Brighter Futures Fund for Our Kids, the Fund for Racial Justice, and the Women & Girls Fund. Each addresses specific community needs within its 42-town service area.
Which organizations does the foundation partner with for grantmaking?
Key grantmaking partners include Dalio Philanthropies, which collaborates on youth development and empowerment initiatives, the William Caspar Graustein Memorial Fund for equitable resource distribution, and the United Way of Southeastern Connecticut, with whom it administers the Neighbors for Neighbors Fund.
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