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:
$30 million toward MRIs 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), which prioritize positive social outcomes over profit.
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!