Nonprofit Newswire | Annie E. Casey Foundation Pledges Additional $25M for Socially Responsible Investment

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March 3, 2010; The Annie E. Casey Foundation | Here’s a positive foundation role model: In response to the “More for Mission Campaign,” launched by the F. B. Heron Foundation of New York City and the Meyer Memorial Trust based in Oregon, the Annie E. Casey Foundation is going to pledge five percent of its assets for investment in mission-related social investments. The Campaign is trying to get the foundation world to at least reach two percent in MRIs. Heron is far over that proportion but that’s a rarity among its philanthropic peers. We think it is great to see AECF join the team of social investment (NPQ reviewed various categories and options for mission related investing in “Navigating the Path of Socially Responsible Investment” in the Summer 2008 issue of the Nonprofit Quarterly). The definition of “social investment” or “MRI” is flexible enough to accommodate a wide range of market-return-capable investments with a social benefit, particularly as corporations quickly pick up the language and some of the policies that might vault themselves into the positive columns of socially responsible businesses. Now that Casey is giving five percent, when will Casey’s (and Heron’s and Meyer’s) philanthropic peers ante up their investment portfolios for the social good?—Rick Cohen

  • Jeff Clarke

    Thanks for noting this important announcement. A point of clarification: Annie E Casey Foundation is, along with F.B. Heron and Meyer Memorial Trust, a co-founder of More for Mission. AECF, whose efforts are led by Christa Velasquez, has long been a strong and consistent advocate and a sector leader in impact or mission-related investing.