More for Mission

The Campaign for Mission Investing

Home

Blog

  • Association of Small Foundations supports the More for Mission Campaign

    June 29, 2009

    Lisa Hagerman, Monday, June 29th, 2009

    In May 2008 the Association of Small Foundations (ASF) Board of Directors adopted a resolution in support of the More for Mission Campaign (at the time referred to as the 2% Campaign). The resolution encouraged small foundations to look into the campaign and decide if joining the campaign makes sense for their organization. The Triple EEE Foundation (ASF member and member of the More for Mission Leadership Committee) has similarly adopted a Board Resolution in which it seeks, “as an integral part of its own mission, to do what it can to increase the awareness of and use of mission investing by foundations throughout the country.”

    Floyd Keene, President of the Triple EEE Foundation of Deerfield IL, is a strong proponent of mission investing. As of June 2009 the foundation’s assets are currently 100% mission invested. Amidst the downturn in the economy the foundation’s mission investments outperformed conventional investments. At year-end 2008 its portfolio was up 1.20% for the year compared to 35-40% decreases in market averages.
     

    posted 12:50PM 06/29/2009 by Lisa Hagerman

  • Seattle investors look at mission investment strategies

    June 23, 2009

    On June 10th  a diverse group of stakeholders (approximately 35 attendees) interested in mission investing across small foundation donors (staff and trustees), philanthropic wealth advisors, and others interested in the topic came together for a two-hour  meeting in Seattle.  The meeting was co-sponsored by the PRI Makers Network, Social Venture Partners, the Association of Small Foundations and Philanthropy Northwest. 

    Patricia Farrar-Rivas, Veris Wealth Partners and Derek Casteel, Community Capital Management presentation (PDF) covered essentials on the topic including:  what is mission investing, why should you consider it, and how you might start the practice with examples of investments.  Richard Woo, CEO, the Russell Family Foundation, told the story of how their foundation started mission investing and what they have learned in the process.

    Peter Berliner of the PRI Makers Network moderated a lively Q&A discussion with questions that included:

    • If there is a company in your portfolio whose values don’t align with yours, how do you decide whether to divest or engage in shareholder activism?
    • How do you decide when to make a PRI as opposed to a traditional grant?
    • When should you bring in an intermediary?

    The answers varied based on the foundation type, their mission, and size. See the shareholder advocacy section for other  resources on engaging in shareholder activism,  resources on PRIs and links to existing databases with details on active intermediaries can be found at the PRI Makers Network.

     

    posted 10:44AM 06/23/2009 by Lisa Hagerman

  • Mission investors-faith based and foundations-look at New Orleans

    June 15, 2009

    The recent ICCR conference in New Orleans began with a tour of the city conducted by the Isaiah Funds, a set of place-based investments developed by a consortium of faith-based investors that is specifically focused on post-Katrina regeneration in New Orleans, and generally hopes to serve as a potential model for post-disaster mission investing. The Isaiah Funds are predicated on the idea that strong community ties and presence can be tools for investors to identify where they can make the most positive impact and best leverage the investment of others. It’s a model – with multiple investors pooling money, with its place-based focus, with its emphasis on real estate (re)development, and so on – that looks a lot like the sorts of things many foundations are considering as they explore mission investing.

    The Isaiah Funds is concentrating its first investments in Central City, and the tour took us on and around O.C. Haley Boulevard, a historically important retail strip for the New Orleans African-American and Jewish communities. Gulf Coast Housing Partnership laid out an impressive vision for sustainable smart growth development in the area, and Jericho Road Episcopal Housing Initiative spoke to affordable housing. Christy Wallace from the More for Mission Campaign member foundation, Louisiana Disaster Recovery Fund spoke about the potential for investment to revitalize the boulevard, and Lynnette Colin, of the O. C. Haley Boulevard Merchants & Business Association, offered up the very intriguing idea of a commercial land trust to help ensure that the mission is built permanently into retail redevelopment.

     

    posted 5:30PM 06/15/2009 by David Wood

  • IRRC & Trucost study compels investors to evaluate carbon exposure of S&P 500

    June 02, 2009

    Lisa Hagerman, Tuesday, June 2nd, 2009

    A new study released today by the Investor Responsibility Research Center (IRRC) and Trucost, “Carbon Risks and Opportunities in the S&P 500” analyzes the potential financial implications of applying a carbon price to global emissions for companies listed on the S&P 500.  Some of the highlights of from the press release on the report include:

    • Carbon costs would total over $92.8 billion if a market price of $28.24 – Trucost’s estimate of the carbon market price in 2012 – were applied to each metric ton of emissions from companies in the S&P 500 and their direct suppliers such as electricity providers. This represents more than 1% of revenue from these companies, and some 5.5% of combined EBITDA.
    • On a company-by-company basis, financial risk varies widely. Earnings could fall between less than 1% and 117% by company, if carbon costs were incurred.

    “The cost of carbon emissions has been passed to the public and not reflected in the financial statements of companies,” said Jon Lukomnik, program director of the IRRC Institute, which commissioned the study. “The analysis makes clear that a cap-and-trade system is a real game changer. A number of companies will have to reform how they think about carbon emissions and the associated costs, or their bottom line will suffer greatly,” Lukomnik said.

    The press release can be downloaded here (PDF) and the full report is available at IRRC and Trucost websites. The report also is included in the Social Science Research Network Corporate Governance Network.

     

    posted 3:13PM 06/02/2009 by Lisa Hagerman

latest posts





calendar

<< June 2009 >>
SuMoTuWeThFrSa
 123456
78910111213
14151617181920
21222324252627
282930