A new body, the Center for Applied Philanthropy (CAP), has been launched under the auspices of The Philanthropic Initiative (TPI) in Boston with the aim of increasing the opportunities for NPOs to access funding for their programmes and working capital needs through programme and mission-related investments. CAP’s first initiative will be the launch of the Fund for Sustainability in conjunction with the Calvert Social Investment Foundation. The fund will specifically target working capital and programmatic needs among non-profits operating in the health and human services, arts and culture, environment and education sectors. It hopes to begin its initial round of funding during the first quarter of 2009.