Minimum Giving
Foundations typically allocate 5% of their endowment revenue—the legal minimum—for grant making.
It’s the old adage, put your money where your mouth is. And that’s what foundations have been doing for several decades. Casey’s work targets destitute neighborhoods and communities. To impact the lack of financial capital, literacy and services, Casey started depositing funds in local community depositories. The investment examples in this report show how these socially responsible deposits opened the door to the creation of new financial products and services for these tough neighborhoods.
Social investing opened a brand new door for philanthropic institutions. It increases financial resources available for programmatic charitable purposes. It contributes to the soundness of a foundation’s endowment. And, it decreases the dissonance between the investing and the giving side of philanthropy because deposits are being made in locations where programs are operating. This report shows that financially sound decisions can include socially responsible investing.