This session will present the Richard W. Goldman Family Foundation’s (RWGFF) journey – successes and stumbles – to establish a mission-aligned impact investing portfolio from its inception, through landscaping and pilot investments, to its current portfolio, which consists of commitments in education-focused VC funds, community development financial institutions (CDFIs), and direct equity investments, totaling $3M (3.7%) of the $80M corpus. All RWGFF’s grantmaking and impact investments work to increase access to education, health, and financial resources for families with young children.
The panel will include a foundation board member, a RWGFF investee, and a foundation staff member (from Arabella Advisors, a consulting firm serving as foundation staff). Panelists will discuss RWGFF’s decision to pursue impact investing, its decision to structure investments as mission-related (MRIs) rather than program-related (PRIs), its decision to begin by dedicating 5% of its corpus to impact investing, and the sourcing and closing of the investments themselves.
RWGFF is a compelling case study for similar-sized foundations hoping to complement their existing grant portfolios with impact investing, thereby amplifying their impact.
