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Thrivent Charitable
Impact Fund™:
Empower lasting change
How can you do more for your communities, causes you cherish and for others? As your giving partner, we want to help you fulfill your hope to spread joy. Through our Impact Fund we have curated a selection of investments to support greater resiliency and quality of life for all by generating net positive social and environmental impact.
Fund overview
Our Impact Fund is actively managed and globally diversified for donors seeking a competitive financial return alongside net positive social and environmental impacts over the long term. The fund has exposure to public and private assets.
  • Fund manager: Cambridge Associates
  • Asset allocation: 80/20 equity/fixed income
  • Expense ratio: .80% to .90%
  • Time horizon: 7 or more years
Learn more about this fund from the monthly performance report and download our brochure.

Case studies

The objectives of this fund are to support greater resiliency and quality of life for all by generating net positive social and environment impact through its investments and outperform the "market" (defined as simple 80/20 stock/bond portfolio).
These case studies are examples of investments that may be included in the fund.
Sustainable Agriculture:
Ecosystem Integrity Fund
Ecosystem Integrity Fund (EIF) is a venture capital firm investing in companies which create practical solutions for environmental sustainability. The fund focuses on businesses addressing major challenges like climate change, resource efficiency, and ecosystem health, supporting innovations in clean energy, transportation, and sustainable products. EIF works closely with its portfolio companies to help them scale, aiming for both strong financial returns and measurable positive impact on the environment.

A clear example of EIF’s impact is its investment in ZeroAvia, a company developing hydrogen fuel cell technology for airplanes. ZeroAvia retrofits existing aircraft with engines powered by hydrogen, replacing traditional jet fuel and enabling zero-emission flight. The company has formed partnerships with major airlines—including United, Alaska, and British Airways—and leading manufacturers like Amazon and Mitsubishi Aircraft. By making air travel cleaner, ZeroAvia helps reduce carbon emissions and supports the shift to a low-carbon economy. EIF’s early investment in ZeroAvia reflects its strategy of backing scalable, systems-level solutions to environmental challenges, and the fund continues to support the company’s growth through follow-on investments.
Community:
Community Investment Management
CIM Enterprise Loan Fund is a credit strategy focused on providing loans to small and medium-sized businesses in underserved communities across the United States. The fund targets companies often overlooked by traditional lenders, supporting local job creation, economic development, and community revitalization. CIM works closely with borrowers to structure flexible financing solutions to help businesses grow, create jobs, and strengthen local economies, while aiming to deliver attractive risk-adjusted returns.

A clear example of CIM’s impact is its financing of a minority-owned manufacturing business in Kansas City, Missouri. The company, which produces sustainable building materials, received a loan from CIM to expand its operations and hire additional staff from the surrounding community. This support enabled the business to increase production, offer new training programs for local workers, and contribute to neighborhood revitalization. CIM’s investment demonstrates how targeted lending can drive economic growth and opportunity in the areas which need it most.
Healthcare:
Seae Ventures
Seae Ventures is a venture capital firm focused on investing in early-stage healthcare companies that improve outcomes for underserved communities. The firm prioritizes businesses founded by women and people of color, supporting areas such as women’s health, mental health, and digital health solutions. Seae provides hands-on support to its portfolio companies, helping them grow and build diverse, inclusive teams, with the belief that addressing healthcare gaps leads to both social impact and strong financial returns.

A clear example of Seae’s impact is its investment in Health In Her Hue, a digital platform connecting Black women and women of color to culturally competent healthcare providers. In partnership with Blue Cross Blue Shield of Minnesota, Health In Her Hue offers no-cost access to members in Brooklyn Center, one of the state’s most diverse cities. This collaboration has led to significant improvements in mental health awareness, comfort with seeking therapy, and overall satisfaction with care. Health In Her Hue’s work highlights how Seae’s investments can drive meaningful change in local communities.
Charitable Investments: Thrivent Charitable Impact Fund

Learn more about the Impact Fund

We believe investing in companies with responsible business practices, a commitment to long-term, sustainable value creation, and embracing the wider demands of all people and the planet we share, will generate outperformance relative to the market over the long term and have a positive impact on the communities in which they operate.
About Cambridge Associates
Since their founding in 1973, Cambridge Associates has been a market leader in building diversified investment portfolios. With 11 offices around the globe and a world-class network of managers, they offer the scale, resources, and networks of a global firm, coupled with the trust, independence, and personal attention of a boutique firm.

With $568 billion in assets under advisement, Cambridge Associates is building a custom portfolio to meet Thrivent Chartiable’s needs and goals, targeting to outperform the market. Their team believes its clients do not have to choose between long-term portfolio returns and positive, real-world impact.
Donors must itemize deductions to receive a charitable income tax deduction. Charitable giving can result in tax, legal and financial consequences. Thrivent Charitable Impact & Investing® does not provide legal, accounting or tax advice. Consult your attorney or tax professional.

While diversification can help reduce market risk, it does not eliminate it. Diversification does not ensure a profit or protect against loss in a declining market. Investing involves risks, including the possible loss of principal.

Performance results will include Thrivent Charitable administrative fees and may differ from the results of the underlying fund.