Community Investment Trust Governance Research Intern

INTERNSHIP TITLE:  Community Investment Trust Governance Research Intern

INTERN WORKSITE LOCATION:  Portland, OR

DATES OF INTERNSHIP:  April/May - August 2023

HOURS PER WEEK: 40 hours/week

INTERN SUPERVISOR & CONTACT INFORMATION:

Olena Borova, Implementation Manager - Community Investment Trust

INTERN WILL WORK CLOSELY WITH:

Sven Gatchev, Director of Operations - Community Investment Trust

FUNDING AVAILABLE FOR THE INTERNSHIP:  $2,600/month

Mercy Corps responsibilities

For the duration of this internship assignment the intern will receive:

• Workspace within the Mercy Corps office in Portland, OR (flexible based on intern needs/desires and COVID restrictions)
• Training and supervisory support
• Access to Mercy Corps online tools
• All other tools, materials and communication requirements for this project to be undertaken

Intern responsibilities

Intern will remain responsible for all costs associated with:

• Travel to and from Mercy Corps HQ and Plaza 122 as needed
• Laptop for working remotely
• Accommodation, travel and living expenses
• All other costs associated with this internship

BACKGROUND:

Mercy Corps is a leading global organization powered by the belief that a better world is possible. In disaster, in hardship, in more than 40 countries around the world, we partner to put bold solutions into action — helping people triumph over adversity and build stronger communities from within — including here in the United States in Oregon and Washington.

In 2017, after several years of model development, Mercy Corps launched a national United States initiative: the Community Investment Trust (CIT). Equity is the core value of the CIT: in ownership, governance and long-term control. The CIT drives economic development and community asset building by providing low-income families with access to a new type of investment opportunity, paired with education, to help community members meet their financial goals, while also retaining businesses and boosting new local small businesses within their community.

Based on the success of its pilot in Portland, Oregon, Mercy Corps is building out a national Community Investment Trust (CIT) Community of Practice. The COP will start in thirteen current markets with another eight supported by JPMC.. The COP is to assist, align, learn and share the CIT model to deliver this innovative investment product to low-income families. Our model will provide a low-dollar, low-risk real estate investment in neighborhoods across the nation, addressing the racial wealth gap, which requires new financial products, models and partnerships to drive equitable development.

The CIT is a new model for individual and community asset building and economic empowerment, and will make neighborhoods safer, more equitable and economically viable. We have seen in Portland how the model helps improve investors’ lives, helps business retention and performance while providing an ownership platform that promotes more engaged, voting citizens. Our shared vision: Provide access to a real estate investment opportunity for underserved communities and empower people to lead their own and their neighborhood’s financial success. See investcit.com

PROJECT DESCRIPTION:

This project is to write the first part of a document/training package that will be used as part of the CIT Replication Package for Guidelines of CIT Governance. This governance document is intended to be the source for CIT replicators to organize and manage their CIT with the goal of guiding practices and learning for a community-led board of directors. Governance is one of several key components of the implementation of CIT that Mercy Corps licenses for a fee to replicators. This internship will add to work done last year that analyzed governance models.

LEARNING OBJECTIVES:

• Understand elements of neighborhood or community wealth building initiatives that have emerged in recent years nationally. Compare and contrast the models relative to governance. See matrix, analysis and comparison of other wealth building models on Resources tab at investcit.com.

DELIVERABLES:

• Research and draft a concise, footnoted document on the following:

• Survey cities who have completed a Feasibility Study to determine their vision for CIT governance.

• Options for blending experts with a community-led board (seek Orrick guidance on ex-officio roles for experts and for a CIT board bench of potential future board members).

• Assist in developing and designing a Governance Training Package.

• Background and advisory documents, documenting efforts nationally and some in other developed economies.

• Interview various policy and practice entities in the U.S. and coordinate with other leading policy and foundation partners in completing the analysis.

• Engage with public policy experts, universities, research institutions and legal experts as needed on second stage research on governance and other issues of CIT success as needed. These will include the Urban Institute, Brookings Institution, Aspen Institute and the Federal Reserve Bank of St. Louis.

THE IDEAL CANDIDATE:

• BA/BS in Economics, Business or MPA in Public Administration or Public Policy in process or recently completed (no more than 1 year since graduation).
• Enjoy the start-up and innovation culture of the CIT.
• Bright, amiable, trustworthy, collaborative, independent worker.
• Convener/organizer/leader.
• Quick learner, listener and synthesizer.
• Reflective of, and responsive to, the communities in which we work.

Mercy Corps interns represent the agency both during and outside of work hours and are expected to conduct themselves in a professional manner and respect local laws, customs and Mercy Corps policies, procedures, and values at all times and in all in-country venues.

Mercy Corps Diversity Statement

Achieving our mission begins with how we build our team and work together. Through our commitment to enriching our organization with people of different origins, beliefs, backgrounds, and ways of thinking, we are better able to leverage the collective power of our teams and solve the world’s most complex challenges. We strive for a culture of trust and respect, where everyone contributes their perspectives and authentic selves, reaches their potential as individuals and teams, and collaborates to do the best work of their lives.

We recognize that diversity and inclusion is a journey, and we are committed to learning, listening and evolving to become more diverse, equitable and inclusive than we are today.

Equal Employment Opportunity Statement

Mercy Corps is an equal opportunity employer that does not tolerate discrimination on any basis. We actively seek out diverse backgrounds, perspectives, and skills so that we can be collectively stronger and have sustained global impact.

We are committed to providing an environment of respect and psychological safety where equal employment opportunities are available to all. We do not engage in or tolerate discrimination on the basis of race, color, gender identity, gender expression, religion, age, sexual orientation, national or ethnic origin, disability (including HIV/AIDS status), marital status, military veteran status or any other protected group in the locations where we work.

Safeguarding & Ethics

Mercy Corps is committed to ensuring that all individuals we come into contact with through our work, whether team members, community members, program participants or others, are treated with respect and dignity. We are committed to the core principles regarding prevention of sexual exploitation and abuse laid out by the UN Secretary General and IASC and have signed on to the Interagency Misconduct Disclosure Scheme**.** We will not tolerate child abuse, sexual exploitation, abuse, or harassment by or of our team members. As part of our commitment to a safe and inclusive work environment, team members are expected to conduct themselves in a professional manner, respect local laws and customs, and to adhere to Mercy Corps Code of Conduct Policies and values at all times. Team members are required to complete mandatory Code of Conduct e-learning courses upon hire and on an annual basis.

As part of our commitment to keeping our community safe and providing a safe working environment, Mercy Corps has a COVID-19 vaccine requirement for US interns based in Mercy Corps US HQ offices. Interns must be fully vaccinated per CDC requirement or have an approved exception, either (1) sincerely held religious convictions, or (2) a disability that prevents them from receiving a COVID-19 vaccination and comply with regular testing, within 10 business days of starting.  Failure to comply may impact your internship.

Mercy Corps Headquarters: 45 SW Ankeny Street, Portland, Oregon 97204

Mercy Corps: https://www.mercycorps.org/

In your statement, you are encouraged to discuss any relevant experience, and demonstrate your interest. Your application will be reviewed by the Mercy Corps team and shortlisted candidates will be contacted directly for interviews.