Leading foundations and philanthropic thought leaders around the world continue to demonstrate that now time is right for us to look at society, investment and change with a fresh perspective. Many of those who work exclusively at the intersection of philanthropy and business, like me, continue to examine new ways to further bridge the gap between philanthropic impact, social investment and transformational change within our communities. I am excited to learn that the Ford Foundation and its leadership continue to lead the way in this global conversation!
The Ford Foundation announced this week that it has decided to prudently invest up to $1 billion of its endowment in Mission Related Investment (MRI) funds, to be phased in over the next 10 years. This decision is an extension of the organization’s history of program based investing, which will continue to play an important role in their approach to impact.
Ford Foundation President Darren Walker said in their announcement release “While this field is still emerging, we are making this commitment because we believe MRIs are the next great tool for social transformation, in philanthropy and beyond. As for the objective of our MRIs, our early efforts will target areas that have long been central to our mission of disrupting inequality in all its forms. In the United States, we’ll start by examining investments that make housing more affordable and inclusive. And in developing countries, we’ll look at how MRIs could expand access to vital financial services, particularly for low-income and other underserved communities. “
Congratulations to the Ford Foundation and kudos to their innovative Board of Trustees who approved this initiative.
See the more information here in the “Unleashing the power of endowments: The next great challenge for philanthropy” announcement by the Ford Foundation.