Two Years On, Foundations Stand By Issuing Bonds In Pandemic


Foundation: Doris Duke Charitable Foundation, MacArthur Foundation, Rockefeller Philanthropy Advisors, Bush Foundation, California Endowment, Ford Foundation, Rockefeller Foundation, Kellogg Foundation, Lilly Endowment

credit:

When the Ford Foundation took the unprecedented step in June 2020 of issuing $1 billion in debt to help stabilize other nonprofits, it delighted investors and inspired several other large foundations to follow suit.

Two years later, the foundations all stand by their decisions to take on long term debt, allowing several to essentially double the amount of their grantmaking, the AP reports.

But they also caution they are unlikely to repeat the move any time soon.

The foundations mostly issued social bonds ranging from $100 million to Ford's $1 billion.

The unusual move allowed them to increase their donations and take advantage of favorable market conditions, instead of dipping into their endowments.

As of June this year, the Ford Foundation has spent more than 90% of the funds it raised in its only bond offering, with 70% of the grants so far going to organizations led by people of color and 87% going to general support, meaning the funds could be spent any way the organizations wanted.

"It just let us put on steroids something that we wanted to do anyway," says Hilary Pennington, an executive vice president of the Ford Foundation.

Greg Ratliff, senior vice president at Rockefeller Philanthropy Advisors, says issuing bonds was an innovative use of the foundation's assets.


Read the Entire Article


Selected Foundation News

A customized collection of news from foundations from around the Web.

'Many Kind People in S'Pore': Dignity Kitchen to Restore Fire-Damaged Premises as Donations Pour in

A woman in her 80s in Singapore pulled $20 out of her purse and gave it to the founder of a social enterprise that provides jobs for people with disabilities, the BBC reports. Koh Seng Choon,...more

Legacy Foundation Grants $25000 To Local Non Profits

The Legacy Foundation in Ottumwa, Iowa, is putting its money where its mouth is. The foundation has awarded $25,000 in grants to six local nonprofits, including $10,000 to the Cardinal Youth...more

Pee Wee Homes to Receive a $40,000 Grant from Secu

A tiny-home nonprofit in North Carolina is getting $40,000 over the next two years to build three new homes for homeless people. Pee Wee Homes will use the funds to hire a property or...more

Legacy Announces $25000 in Nonprofit Grants

The Legacy Foundation in Ottumwa, Iowa, is putting its money where its mouth is. The nonprofit has awarded $25,000 in grants to six local nonprofits, including $10,000 to the Cardinal Youth...more

Pressr: Weyay Bank Launches Podcast to Spark Conversations on Kids' Financial ...

A bank in Kuwait is trying to make it as easy as possible for kids to get their hands on money. Weyay Bank has launched a podcast called Jeel, in which kids between the ages of 8 and 14 discuss...more

Accelerating Government Efficiency through Advanced Technologies and Innovation

When it comes to getting a driver's license in the US, there's a lot of red tape. In fact, more than half of the country's DMV offices are still manual, according to a new report from the...more

7.4 Representative Jennifer Mcclellan Talks Climate Resilience and Environmental Justice ...

Virginia Rep. Jennifer McClellan is the first black woman elected to Congress from her home state, and she's also the first black woman to represent it in the House of Representatives. But...more

Ulster Receives State Grant to Reduce Lead Exposure in Rental Housing

A pilot program in New York's Ulster County to help low- and moderate-income tenants deal with lead poisoning has been awarded $326,000, the Times Herald-Record reports. The county's Department...more

Editorial: Regional Projects Show Benefits of State Grant Money
Foundation: Lilly Endowment

Indiana is adding $500 million to its coffers and the Lilly Endowment is throwing in $250 million for community and economic development programs designed by communities themselves, the Columbus...more

Sandburg Nursing Program Receives State Grant for $96K

Carl Sandburg College in Monmouth, Ill., has been named one of 12 schools in the state to receive a $1.4 million grant from the Illinois Board of Higher Education to help increase the number of...more






Here are the star companies that have succeeded in their corporate social responsibility (CSR) programs. The companies were gathered by Civic 50, a national initiative to survey and rank S&P 500 corporations on how they engage with the communities they serve and utilize best practices in their corporate cultures.




Jobs in the Social Sector

  Education Jobs
  Executive Director Jobs
  Social Work Jobs
  Program Director Jobs
  Foundation Related Jobs



Federal Government Grant and Assistance Programs



Edited by: Michael Saunders

© 2008-2024 Copyright Michael Saunders