U.S. private foundations total giving (2013)

$52 billion

U.S. private foundations total assets

$715 billion

JP Morgan projection for 5-10 years

!  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

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    

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

!  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