Foundation Grants
Community Vital Signs
About Us
How Robert Wood Johnson And McKnight Are Rethinking ESG For Foundations
Foundation: Knight Foundation, Johnson Foundation, Kresge Foundation, McKnight Foundation, Robert Wood Johnson Foundation
For some foundations, making ESG investments isn’t enough.
At least two organizations have gone a step further and set up separate pools of capital that can only be invested in accordance with their missions.
The McKnight Foundation set aside 10% of its $3 billion portfolio in 2014 for an impact investing pool. Four years later, that pool has grown to $200 million, with 40% of the endowment invested in investments that align with the foundation's mission, Fortune reports.
One example is McKnight’s investment in Arcadia, a utility company that helps both renters and homeowners in any state buy renewable power for their homes.
"We like that it creates an option for renters, who are often excluded from renewables," says Elizabeth McGeveran, the foundation's director of investments. "And in some markets, Arcadia can save you money on your utility bill, [while] in other markets it's about the same. They're building community solar to feed into the grid."
Another foundation, the Robert Wood Johnson Foundation, has set up a $200 million impact investing pool, and it's investing in everything from small businesses to research on social bond issuance, Fortune reports. "Every pension fund has exposure to social bonds," says Kimberlee Cornett, the RWJ's director of impact investing. "One of the things that the market doesn't easily make visible is who an issuance is benefiting and how that's being repaid."
Read the Entire Article
Selected Foundation News
A customized collection of news from foundations from around the Web.
If you're an aspiring entrepreneur in Kuwait, you may want to check out Zain's accelerator program. The telecommunications company launched the program 14 years ago and has since helped hundreds...more
"Having a purposeful job actually does transform someone's life," says Edwin Walsh, who runs a social enterprise in Australia called Assembled Threads. "You actually are moving someone from...more
A new scholarship fund in Canada will help high school students who want to further their education, the CBC reports. The Westlock Community Foundation in Alberta received a $26,800 donation from...more
Foundation: Lancaster County Community Foundation
In 2024, Lancaster County, Pa., will celebrate the 100th anniversary of a group of "visionaries" who "came together to shape a better future for Lancaster County," says Sam Bressi, president and CEO...more
Foundation: Citi Foundation
"To the youth, I urge you to be proactive, resilient, and persistent on your entrepreneurial journey," says the UN's resident representative in the Philippines. "Make your voices heard, take up...more
Canada is putting its money where its mouth is, with a $2.5 million investment in five projects in India meant to help the country's poor, the Toronto Star reports. "Many of these novel projects...more
If you're looking for a good time while raising money for a good cause, try golf. The Salvation Army in Virginia Beach held its annual " Swings Fore Strings" fundraiser on Saturday, hoping to...more
If you've ever dreamed of owning your very own Miami mansion, you'll want to get in touch with Eric Spofford. The real estate mogul and Instagram star will be hosting a one-day business intensive...more
"Many of us, at some point in time, have been told in our lives that we are unloveable. By our parents, partners, husbands, children, friends, or society," says transgender activist Zainab...more
Two young women in Bangladesh have been named as finalists for the Global Young Entrepreneur of the Year Award in the social entrepreneurship category, the New York Times reports. Zarin Tasnim...more
Social Entrepreneurship
Spotlight
Calgary Social Enterprise Offers High-Tech Services by People with Autism
Meticulon, a project of Autism Calgary Association in partnership with the federal government and the Sinneave Family Foundation, operates as a social enterprise that renders high-tech services provided by people with autism, leveraging their natural abilities at requiring attention to detail, repetition, and sequencing.