PHOENIX—GlobeSt.com recently caught up withFlynann Janisse, the executive director ofRainbow Housing Assistance Corporation, anonprofit organization that provides service-enriched housingprograms for residents of rental housing communities throughout thecountry. Rainbow seeks to create and preserve quality,affordable housing for families and individuals of diverse ethnic,social and economic backgrounds. GlobeSt.com asked Janisse todefine impact investing and give a sense of its growingpopularity.

GlobeSt.com: How is impact investingdefined?

Janisse: In the world of affordable housing andresident services in which I operate, impact investing is definedas a financial investment in residents as the catalyst for socialand economic change in a community. This includes improving thefinancial performance of an asset to offer an economic return byinvesting in programs and services that will support change ina community through improved education, financial literacy andcommunity enrichment.