Apply for an Impact Investment

At Whidbey Community Foundation (WCF), we believe social good doesn’t have to stop at grantmaking. Through impact investing, we bring together philanthropy and financial investment to create lasting change in our community.

Impact investments allow us to support projects that advance social and environmental solutions—like affordable housing, child care, and local agriculture—while also generating financial returns. Those returns are recycled back into community funds, making resources available for future investments.

Learn more about how it works.

Application for Funding – Two-Stage Process

WCF invites eligible nonprofit and for-profit organizations to submit a Stage 1 Letter of Intent (LOI) to be considered for an impact investment that supports community well-being and economic resilience on Whidbey Island. This investment is structured as a loan and requires a strong community impact and a plan for repayment.

Applicant Eligibility and Process

All applicants must adhere to WCF’s Nondiscrimination Policy.

Eligible organizations include:

Nonprofit organizations with 501(c)(3) status or equivalent, in good standing, that have at least two years of documented financial and mission performance and must be based in or directly benefiting Whidbey Island.
For-profit businesses that are mission-aligned and based in or directly benefiting Whidbey Island, with at least two years of operations and demonstrated financial viability.
Organizations must be able to articulate measurable community benefits and align with at least one of WCF’s investment themes:
- Affordable Housing
- Economic Development
- Food & Agriculture
- Arts & Culture
- Health & Wellness
- Environment
- Nonprofit Capacity Building

Multi-Step, Rolling Application Process

After reading through these criteria, eligible entities may submit a LOI following the instructions below.

LOIs will be reviewed by the WCF Impact Investing Committee, consisting of community members. Applicants will be notified within six weeks whether they are invited to submit a full application and/or participate in an interview with committee members. Recommendations from the Committee will be submitted to the WCF Board for approval. Successful applicants can expect to receive funding within approximately one month of receipt of full application and/or completion of interview and submission of supporting documents.

Applications are accepted on a rolling basis. Each is considered on its own merit, and in light of fund balance, at the time of application.

Submitting Your LOI

We are moving to an online application through the Grant Lifecycle Manager (GLM) program by Foundant. We encourage you to watch a tutorial about the new GLM system online to learn more. This tutorial will explain how the new system works and will provide step by step instructions for how to create your account. For questions, please contact us at info@whidbeyfoundation.org or 360-660-5041.

Create/Log in to Your GLM Account to Submit an LOI

View a PDF Copy of the LOI Application

About Impact Investing at WCF

Impact investing is a powerful tool in WCF’s mission to address systemic and root causes affecting Whidbey Island’s long-term health and resilience. Through this program, WCF provides flexible, mission-driven capital—primarily as loans—to initiatives that generate measurable social, environmental, and economic returns. WCF’s goal is to complement traditional grantmaking with investments in areas like affordable housing, local business growth, regenerative agriculture, and nonprofit capacity building. Our vision is to catalyze high-impact projects and support sustainable community solutions through strategic use of philanthropic capital.

WCF seeks to recover the full amount of capital invested in each loan, and where feasible, generate modest financial returns. We recognize that charitable impact is also a critical part of total return. Preferred loan durations are 3–5 years.

Interested In Donating?

Great! We are only able to provide grants and loans like these with broad support from our community. If you are a donor interested in supporting the WCF Impact Investing Fund, please visit the Impact Investing donation page. WCF is a 501c3 nonprofit organization dedicated to Whidbey Island; all donations are tax-deductible to the extent allowed by law. Learn about different ways to make a charitable contribution here.