Following a process involving its board, staff, and advisors, the Nathan Cummings Foundation has announced that it will align 100 percent of its half-billion-dollar endowment with efforts that advance its mission of creating a more just, vibrant, sustainable, and democratic society and finding solutions to the climate crisis and growing inequality.
Joining the growing number of foundations that have aligned their investments in companies and strategies that further their missions, the New York City-based NCF has already begun to assess the mission-alignment of its investments and develop a pipeline of investment strategies across its portfolios. Throughout that process, NCF has worked with Sonen Capital to develop a set of recommendations, and going forward it will partner with Global Endowment Management to manage the transition.
“This is a concrete step that illustrates that capital can and must reflect our values to advance social issues,” said trustee Rey Ramsey. “It comes at the right time because we have capital disparities in far too many communities where quality ideas and business plans go unfilled. Our commitment not only advances philanthropy and impact investing, it advances the work of our partners on the front lines of these issues.”