Women, Minorities Manage Only 17% Of Major Foundations' Assets


Foundation: Gates Foundation, Casey Family Programs, Knight Foundation, Silicon Valley Community Foundation, Tulsa Community Foundation

credit:

Less than 20% of the assets held by major foundations is invested by outside firms run by women or people of color, according to a report released Thursday. The report found that 30 of the largest grantmakers deployed a total of $11 billion, or 16.6% of their endowment investments, with firms controlled by women or people of color.

Using a diverse pool of investment managers has many benefits, said Juan Martinez, Knight's chief financial officer.Diverse investment managers often put money into investments that white money managers don't, which can add balance to an investment portfolio.

In the previous study, an investment firm was considered to be diverse if it had at least one partner who was a woman or a person of color. The bar for diverse ownership in the current study was raised to 50% ownership by women or people of color.

The Gates Foundation, the largest private philanthropy in the United States with about $50 billion in assets, participated, but the study did not identify any assets the foundation had steered to investment managers led by women or people of color.

Robert Raben, executive director of the Diverse Asset Managers Initiative, said foundations have done a poor job of providing data on the diversity of their investment consultants. Read the Entire Article


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Women, Minorities Manage Only 17% Of Major Foundations' Assets
Foundation: Gates Foundation, Casey Family Programs, Knight Foundation, Silicon Valley Community Foundation, Tulsa Community Foundation

Less than 20% of the assets held by major foundations is invested by outside firms run by women or people of color, according to a report released Thursday. The report found that 30 of the largest...more

Prisoner-built Home Arrives In Muscatine To Increase Affordable Housing
Foundation: Community Foundation of Greater Muscatine

The last week of September saw the first prisoner-built home arrive at Muscatine County. Homes for Iowa is a program in which Iowa State Penitentiary prisoners in Newton learn to build homes and...more

Greater Milwaukee Foundation Has Deployed $780,000 in Small Business Loans Since May
Foundation: Greater Milwaukee Foundation

The Greater Milwaukee Foundation has provided small business loans to 17 Milwaukee-based businesses, primarily located in three neighborhoods on the north side. The foundation's ThriveOn program...more

Free Transportation From Anywhere in the Mississippi Delta to a Vaccination Location
Foundation: Community Foundation of Northwest Mississippi

In light of the increased prevalence of the Delta variant of the COVID-19 virus the Community Foundation of Northwest Mississippi highlighted its free transportation initiative. In partnership...more

Coastal South Carolina Gets $685k to Support Black Communities and Build Resilience
Foundation: Coastal Community Foundation, Coastal Community Foundation of South Carolina

Officials from the Coastal Community Foundation of South Carolina stated that they have provided $685,000 to 37 non-profit organizations led and/or served by blacks in the three-county area to...more

Foundation Accepting Applications for Small Business Grant Program
Foundation: Community Foundation of Greater Birmingham

The Community Foundation of Greater Birmingham is accepting applications for a new grant program designed to support underserved small businesses throughout the region. The grant will help Community...more

Maine Community Foundation Grant Supports Co-Working Space and Artist Cottage
Foundation: Maine Community Foundation

Monson's Economic Development Committee has received a $17,000 grant from the Maine Community Foundation's "Start Up Scale Up" program to support Monson’s new Co-working Space and Artist Cottage....more

Charlottesville Reopening Fund Raises $165000 to Support Public Schools
Foundation: Charlottesville Area Community Foundation

The Charlottesville Reopening Fund raised $165,000 from 201 donors this school year to help families, and the organizers said this effort demonstrates the community's support for public schools and...more

Top 50 Global Urban Innovation Selected by Bloomberg Philanthropies
Foundation: Bloomberg Philanthropies

Bloomberg Philanthropies has announced 50 Champion Cities. They represent the boldest urban innovations in the past year. They will enter the final stage of the 2021 Global Mayor’s Challenge. A...more

The Latino Equity Fund Seeks to Raise $10 Million to Invest in Businesses and Organizations
Foundation: Boston Foundation

Evelyn Barahona has been chosen to lead and grow a new philanthropic fund designed to address longstanding inequities in the Massachusetts Latino community—issues that came into sharper focus after...more





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