Hall had been the Bethesda-based nonprofit’s interim CEO since August and was previously the chief lending officer. She took over from former President and CEO Shari Berenbach, who started with the foundation in 1997 and left in 2010 to join the Obama administration, where she leads the microfinance division of the United States Agency for International Development.
“As we went through a process of careful consideration, we concluded that the best candidate for this job came from within.” Wayne Silby, who is co-chairman of the board of directors and a co-founder of the Calvert Foundation, said in a statement. “I have full confidence in Lisa, and look forward to both working with her and supporting her in her new role.”
Hall came to the foundation in 2005 from Fannie Mae, a government-backed mortgage finance company. She has nearly 25 years of industry experience and has held policy and financial posts at the Enterprise Foundation, JP Morgan Chase and Travelers Insurance. Hall has a degree in economics from the University of Pennsylvania and an MBA from Harvard University.
“This is the professional opportunity of a lifetime for me,” Hall said. “It’s a chance to do good and helping concerned investors through sophisticated financial products and services.”
Hall lives in Washington with her husband and young daughter.
The Calvert Foundation was founded in 1988 through collaboration between the Ford, MacArthur and Mott foundations and Bethesda-based Calvert Group, an investment management company that specializes in socially responsible investing.
The foundation’s portfolio is now at nearly $190 million, and Hall said she is optimistic that figure will continue to grow.
“We believe, based on research and what we’ve seen, that individuals are hungry for this type of product,” Hall said. “I really see us growing even more over the years.”
The foundation, a 501(c)(3) nonprofit, operates by collecting donations from individuals and then making loans to other nonprofits. Investors make donations by purchasing a community investment note. Similar to a certificate of deposit, the loan has a fixed term, and investors have the potential to earn the principal plus interest at the end of the term.
The loans are made to organizations around the world that focus on socially responsible services like micro financing, community development, fair trade and affordable housing projects. In Maryland, the foundation has made loans to nonprofits including St. Ambrose Housing Aid Center and the Enterprise Community Loan Fund.