New narrative shares mission investing story and impact from our first mission-related investments (MRIs).
Since 2004, we’ve used mission investments to further grantees’ work to build assets, wealth, and opportunity. We’re excited to share our updated mission investing page, which guides you through a new narrative overview of our mission investment work. It also features findings from a study conducted by Pacific Community Ventures, which measured the social impact of 10 years of our first MRIs.
Few foundations are rigorously measuring their mission investing, and fewer still have measured it for as long as we have. We’re excited to highlight some of the social returns (as of 12/31/15) from our first MRIs:
• 23 percent job growth (compared to 5 percent for US private sector);
• Living wages for all employees of portfolio companies;
• Quality jobs with health and retirement benefits;
• Investments in 20 companies;
• Support for over 1,700 jobs.
Going beyond grantmaking
We’ve learned a lot, and our commitment to mission investing has only strengthened. Building on this success, we’ve dedicated $40 million to invest in work that benefits people in our region.
By boosting our commitment to both MRIs and PRIs, we’re providing capital and support to rural and urban underserved businesses, along with new and growing businesses. This approach allows us to continue building strong, vibrant communities and increase good jobs.
Based on what we’ve learned, we’re investing through established managers and funds, expanding our geographic focus, and establishing targets to improve our success and evaluation.
Check out our new webpage and learn about our successful mission investment work!
$30 million toward MRIs
$30 million focused on yielding market-rate financial returns while advancing the positive social goals we target in our grantmaking.
$10 million to program-related investments (PRIs)
$10 million to PRIs, which prioritize positive social outcomes over profit.