Nathan Cummings Foundation Announces Move to 100 Percent Mission-Aligned Investing
The Nathan Cummings Foundation announced that they will align 100 percent of their nearly half-billion dollar endowment with their mission. The Nathan Cummings Foundation is focused on creating a more just, vibrant, sustainable and democratic society and finding solutions to the two most challenging problems of our time – the climate crisis and growing inequality – and is one of the largest foundations to commit 100 percent.
“Our decision reflects our values and our aspirations, our assessment of the market, and the opportunity for NCF to both join and leverage a chorus of philanthropic and private sector investors changing the landscape for investing and the business model of philanthropy,” said NCF President Sharon Alpert. “The problems we are working on – like the climate crisis and growing inequality – will not be solved by grantmaking alone. Capital markets have to change to drive sustainable and inclusive growth that will create long-term value for people, the planet, and the economy. How we invest our assets and leverage our influence as an investor are powerful tools to make that change to happen.”
NCF joins a growing number of foundations aligning their investments in companies and strategies that advance their missions. American foundations collectively have trillions in assets but often only use the legally required 5 percent on their missions through grantmaking. This move asks the question of what is possible if foundations begin using the other 95 percent...