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 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


Selected Grant News Headlines

A customized collection of grant news from foundations and the federal government from around the Web.

New AI-powered Philanthropy & Impact Investing Platform Set To Accelerate Social Impact

Deep Knowledge Philanthropy, a subsidiary of Deep Knowledge Group, has announced the launch of its AI-powered Philanthropic & Impact Investing Platform. The platform harnesses the power of big...more

Nuveen Real Estate Launches Global Impact Investing Sector

Nuveen Real Estate, one of the world's largest real estate investment managers, is aiming to change the world. The company, a subsidiary of TIAA, plans to invest up to $15 billion in real estate...more

Canada Launches Innovation Agency

"Invention is not enough." That's the message from Canada's government, which is hoping to change that with the creation of a $1 billion Canadian Innovation and Investment Agency that it says will...more

Nigeria Trains Non-Graduates Unemployed Youths On Smart Phone Repairs

If you're an unemployed young man in Nigeria, you now have a new job. The government has trained 6,475 of you to repair smart phones, the Guardian reports. The initiative is part of the...more

Harvard Team Wins Second Place In MIINT Impact Investing Competition

A team of MBA students from Harvard Business School has won a $25,000 investment in a Tunisian startup as part of a program that teaches students how to invest in social and environmental...more

L'Oréal Commits €50m To New Impact Fund For Circular Economy
Foundation: National Philanthropic Trust

L'Oreal is making a big investment in the fight against climate change. The French cosmetics company has committed $50 million to the Circular Innovation Fund, which aims to invest in businesses...more

Baltimore City Doubles Incentive For First-Time Homebuyers To $10000

"To continue to grow our city and strengthen our economy, we must do everything in our power to prevent potential Baltimore homeowners from being squeezed out of the marketplace." So says...more

Social Value Act 'tipping Point' Has Been Reached

"We have reached some kind of tipping point in terms of awareness, understanding, and measurement," says Chris White, author of the Social Value Act that came into effect in England and Wales in...more

Major Investors Come On Board To Tackle Inequality Through Growth Impact Fund

In the US, less than 1% of venture capital goes to social entrepreneurs. In the UK, the figure is closer to 5%. Now two big players in the financial world are coming together to create a $25...more

Impact Investing: A New Relationship With The Startup Ecosystem

Lex Luther, aka LexCorp, first appeared in Superman comics in 1986, "a few years after Terminator's SkyNet entered the public consciousness," writes Martin Dean at SyndicateRooms.com. "That is to...more





Social Innovation News from...


Skoll Foundation
Coca-Cola Foundation
Microsoft


Dsenyo, founded and designed by Marissa Perry Saints, seeks to help women and artisans working their way out of poverty. Dsenyo is an ethical fashion company that operates as a social enterprise that supports living wage opportunities for workers in Malawi, Africa.




Social Services Jobs in Rhode Island

  Program Director Jobs
  Fundraising & Development Jobs
  Foundation Related Jobs
  Social Work Jobs
  Executive Director Jobs


Federal Government Grant and Assistance Programs


Rural Housing Stability Assistance Program | Environmental Public Health and Emergency Response | U.S. Nuclear Regulatory Commission Minority Serving
Institutions Program (MSIP)
| Law Enforcement Assistance_National Instant Criminal Background Check System | Flood Control Act Lands | Mortgage Insurance_Nursing Homes, Intermediate Care Facilities, Board and Care Homes and Assisted Li | Applied Leadership for Community Health Improvement | Women"s Bureau | | Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy

Edited by: Michael Saunders

© 2008-2022 Copyright Michael Saunders