Holding Steady

Someone asked me how the current economic crisis is impacting the Foundation. Great question! We’re very fortunate to have brilliant, social justice-oriented investment officers and money managers looking out for our best interests. They’ve devised a strategy that should enable our investment portfolio to weather this terrible storm pretty well (see an edited version of Mitch’s recent slideshow presentation to staff).

Speaking of investments, we’re working to further align the values that guide our grantmaking and investments, particularly around green jobs and businesses. As I understand it, our basic principle is to gain a high return for “positive impact” portfolio investments, which will further support our positive impact “investments” in community-based organizations through our targeted grantmaking. We seek to be as green and socially-responsible as possible. (But PLEASE do not take this as a call for portfolio investment pitches – heed the old saying: “Don’t call us…”)

At any rate, as we move through our 2009 budgeting process, we’re committed to supporting grantees, both new and continuing. The next round of grant requests is due on November 7th for consideration at our December Board meeting. So despite the economic turbulence, we intend to proceed steadily and deliberately.

Photo by Christopher Chan via Flickr.

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