Home
About Us
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.
"After years of a toxic political environment, plus a global pandemic, and now the most challenging moment in the history of Israel and the Jewish people in most of our lifetimes, I fear our clergy...more
When it comes to giving back to the community, Hogan Brooks is at the top of the list. The Texas real estate investor and property managerwhose website says he "believes property management...more
"We are firing on all cylinders now." That's how the director of equality and opportunity litigation at a conservative public interest law firm is framing his group's victory in a discrimination...more
"Shenandoah is one of numerous National Park Service sites across the country that have Artist-in-Residence programs to inspire artists to create and share art that not only motivates and encourages...more
Foundation: California Community Foundation, San Diego Foundation
The San Diego Foundation is calling for proposals for its 2024 Community Scholars Initiative grant program, which aims to fund "high-impact projects that support students with disabilities, foster...more
In the fourth quarter of 2023, American household debt hit $17.5 trillion, according to the Federal Reserve's quarterly report on household debt and credit. That's $212 billion more than in the...more
A man who introduced America to some of Mexico's best-known beers has died at the age of 73. Carlos Alvarez founded the Gambrinus Company in San Antonio, Texas, in 1986 and introduced the US to...more
When it comes to green technology, the Nordics stand out, with Denmark, Norway, Sweden, Finland, Iceland, the Faroe Islands, Greenland, and the US making up the top 10 of the Organization for...more
It's not every day that a hospital is named the nation's top medical facility, but that's exactly what's happened at Alabama's Children's of Alabama. The Children's of Alabama Clinical Scholars...more
"Is there anything we can help you with today?" asks a text message, followed by a series of seven follow-up texts over 30 days. The idea is to make it as easy for patients to get in touch with...more
Philanthropy News from...
El Paso Community Foundation
Community Foundation of Southern Indiana
Gates Foundation
California Community Foundation
San Diego Foundation
Hewlett Foundation
United Nations Foundation
Community Foundation of Sarasota County
Quad Cities Community Foundation
Rockefeller Foundation
Social Entrepreneurship
Spotlight
Hugh Jackman: Fair Trade Entrepreneur
Renowned actor, Hugh Jackman, talks about how he started becoming a fair trade entrepreneur. Jackman is constantly building up ideas and solutions to help small coffee growers get good prices outside the massive coffee industry. His business, Laughing Man Worldwide, reinvests 100% of its profits in its partnerships with farmers.
