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

Rick Cohen
March 8, 2010
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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

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About the author
Rick Cohen

Rick joined NPQ in 2006, after almost eight years as the executive director of the National Committee for Responsive Philanthropy (NCRP). Before that he played various roles as a community worker and advisor to others doing community work. He also worked in government. Cohen pursued investigative and analytical articles, advocated for increased philanthropic giving and access for disenfranchised constituencies, and promoted increased philanthropic and nonprofit accountability.

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