RSF Social Finance Makes a New Loan to Yggdrasil Land Foundation
SAN FRANCISCO, November 1, 2013 /3BL Media/ - RSF Social Finance (RSF) is pleased to announce a new loan to Yggdrasil Land Foundation, a non-profit dedicated to biodynamic and organic farmland preservation. RSF financing will support the purchase of a 76-acre property in Wisconsin.
Yggdrasil’s mission is to catalyze the viability of biodynamic, organic, and sustainable farming for the security of food and the health of communities through land access, preservation, and renewal. Yggdrasil works with landowners who desire to sell or donate their property and in turn, provides long-term farming opportunities to families and community groups.
Yggdrasil Land Foundation was incorporated in 2000 as a supporting organization to work in association with three independent non-profits: RSF Social Finance, the Biodynamic Farming and Gardening Association, and Michael Fields Agricultural Institute. This structure allows Yggdrasil to pursue its mission and provide an agricultural land holding and protection service for the three entities. Today, Yggdrasil owns over 400 acres, managed by organic and biodynamic farmers in New Hampshire, Wisconsin, and California
Yggdrasil’s work addresses an often overlooked problem: from the early 1980’s to the late 1990’s the rate of conversion of prime agricultural land for commercial development in the US increased by 51%, and, as of 2007, the nation was losing 1.2 million acres every year. While the movement to support organic, locally grown, and sustainable food systems is growing, it is still only a small part of the national agricultural industry.
“We need to start planning for, investing in, and taking active steps to preserve farmland that integrates biodynamic and organic methods,” says Ted Levinson, Director of Lending at RSF. “Yggdrasil’s work with landowners and farmers is an important part of supporting farm viability and ensuring land access for future generations.”
The 76 acres purchased with RSF’s support preserves organic farmland adjacent to one of Yggdrasil’s existing properties, family-run Krusen Grass Farm. This acreage, already a critical part of the farm’s operation through leasing, was ready to be sold for commercial development. The urgency and opportunity of the situation was met through a gift to Yggdrasil to purchase the property, but it was RSF's loan that allowed the organization to complete the transaction in a tight time frame.
“Not only could we close on the property, but we were also promised additional farmland equal in value to the purchase price,” says Kish Khemani, Yggdrasil President. “Without this loan we could not have leveraged the protection of so much additional acreage.”
About RSF Social Finance
Located in San Francisco, CA, RSF Social Finance (RSF) is a financial services organization dedicated to transforming the way the world works with money. Since 1984, the organization has made over $275 million in loans and $100 million in grants to non-profit and for-profit social enterprises working in the areas of Food & Agriculture, Education & the Arts, and Ecological Stewardship. RSF's lending capital comes primarily from 1,400 individuals who have invested $1,000 or more in the organization's Social Investment Fund. Investors earn a competitive return on their money comparable to a certificate of deposit while their funds are deployed to leading social enterprises. To learn more, visit www.rsfsocialfinance.org.
About Yggdrasil Land Foundation
Yggdrasil is a national non-profit agricultural land trust dedicated to protecting biodynamic and organic farmland and supporting long-term tenure for farmers. Its farms are located in Wisconsin, New Hampshire and California. To learn more, visit www.yggdrasillandfoundation.org.
Contact
Ted Levinson, Director of Lending
ted.levinson@rsfsocialfinance.org
415.561.6179
Jillian McCoy, Senior Associate, Communications
jillian.mccoy@rsfsocialfinance.org
415.561.6156
