Most foundations use grants alone to achieve their missions -- but increasingly many are looking to their endowments as another tool for impact. The fields of impact investing and responsible investing have grown dramatically in the past decade. As opportunities increase, foundations are becoming more involved -- through mission-related investing (MRI), program-related investing (PRI), and other approaches. For this webinar, our invited speakers, a program officer and an impact investing expert, explored the ways that foundations are aligning their investments with their missions and values. They discussed two specific examples: a national foundation's program-related investing fund and Impact America, a newly launched equity firm creating both financial and social returns. Speakers: • Kesha Cash, Director of Investments, Jalia Ventures • Beth Herz, Associate Program Officer, Surdna Foundation

2. U.S. private foundations
total giving (2013)
$52 billion
U.S. private foundations
total assets
$715 billion

4. JP Morgan projection for 5-10 years

6. ! Mission-related investing (MRI)
Mission-driven investing
! Program-related investing (PRI)
! Responsible investing
! Impact investing
! Environmental, Social, and Governance
factors (ESG)
! Triple bottom line
! CSR

8. Social
Issues
Asset
Classes
Cataly&c
Capital
(Grants,
First-­‐
Loss,
and
Guarantees)
Cash
Fixed
Income
Private
Equity
/
Venture
Public
Equity
Real
Assets
Community
Development
Idea
Village
Amalgamated
Bank
Impact
America
Fund
Domini
Social
Investments
Affordable
Housing
Racial
and
gender
equity
Liberty
Bank
(CDFI)
Calvert
WIN-­‐WIN
IniEaEve
South
Africa
Divestments
Small
Business
Finance
Frogtek
BOC
Capital
Health
and
Wellness
Global
Health
Investment
Fund
California
FreshWorks
Fund
Happy
Family
EducaEon
New
Schools
Venture
Fund
Utah
High
Quality
Preschool
(Social
Impact
Bond)
Bridge
InternaEonal
Academies
Charter
School
Financing
Financial
Inclusion
/
CooperaEves
The
Working
World
Beneficial
State
Bank
(CDFI)
Opportunity
Fund
EssenEal
Products
Pigeon.ly
Renewable
Energy
and
Climate
Change
Divest-­‐Invest
Movement
Sustainable
Resources
and
Agriculture
Natural
Capital
Investment
Fund
(CDFI)
Iroquois
Valley
Farms

9. ! Active ownership
! Screening – positive and negative
! Coops and employee ownership
! Manager recruitment and engagement

12. ! Mission Investors Exchange
! Confluence Philanthropy
! Initiative for Responsible Investment at Harvard
! Council on Foundations
! The Global Impact Investing Network
! Rockefeller Philanthropy Advisors
Mission-related Investing policy and implementation guide
! National Committee on Responsive Philanthropy
Quarterly Journal issue on Mission Investing
! W.K. Kellogg Foundation
Mission-Driven Investing case study
! Case Foundation
A Short Guide to Impact Investing
! Handbook on Responsible Investment Across Asset Classes