Climate Change Spurs McKnight to Go Big on Impact Investing
Of the biggest foundations in the United States — the 100 or so with $1 billion or more in assets — none have a deeper commitment to impact investing than the McKnight Foundation. A decade-long push has urged foundations to devote a bigger slice of their endowments to impact investing. But most big grant makers still aren’t biting. Ford, to be sure, made a splash in 2017 when it pledged to commit $1 billion to impact investing. But the $1 billion represents less than 9 percent of Ford’s assets, and the foundation says it will take 10 years to allocate that money.In contrast, McKnight, which has assets of about $2.3 billion, has already committed $187 million to what it calls high-impact investments, intended to further the foundation’s mission to protect the environment and promote social change. Another $637 million is invested in broad-based funds that are in harmony with the foundation’s overall mission and values.
Full article text is available via the Chronicle of Philanthropy, 01/08/2019
Anthony and Christie de Nicola Make Gift in Support of Notre Dame’s Center for Ethics and Culture
Established in 1999, the Center for Ethics and Culture has long been part of the University of Notre Dame’s wider efforts to share the richness of the Catholic moral and intellectual tradition through teaching, research and dialogue, both on campus and in the wider public square.
Now, thanks to a trans formative $10 million gift from Anthony and Christie de Nicola of Franklin Lakes, New Jersey, the center is poised to expand its work forming and mentoring Notre Dame students, engaging in interdisciplinary programming and research, and promoting a culture of life worldwide through teaching, exchange and service.
Full article text is available via University of Notre Dame News, 01/08/2019
Loose Nonprofit Network Feeds Hungry, Testing Business Models
On-the-job training is a standard in the restaurant business. The challenge for Jeff Williams at the Taste Project, a nonprofit restaurant in Fort Worth, Texas, is that 80 percent of those working on a day-to-day basis are volunteers.Taste Project is one of between 60 and 70 other restaurants that are part of a network of such food establishments and in many cases succeeding where for-profit restaurants have failed at the concept. The One World Everybody Eats network is a loose amalgam of these restaurants, which range from sit-down restaurants with menus, to those open a few days a week with a limited offering, to food trucks.
Full article text is available via The Nonprofit Times, 01/11/2019
CVS Health Commits $100 Million to Building Healthy Communities
CVS Health has announced a five-year, $100 million commitment to building community health and wellness nationwide.
Following its recent acquisition of Aetna, CVS Health and the CVS Health Foundation will work with the Aetna Foundation to scale their combined resources and capabilities to deliver measurable impact in communities across the country. Among other things, CVS Health will expand its Project Health campaign to more undeserved and under insured communities, providing residents with free health and wellness screenings that can detect early risk for chronic conditions such as diabetes, hypertension, and heart disease.
Full article text is available via Philanthropy News Digest, 01/15/2019
$4 Million Grant Will Promote Board Diversity at Museums
The last museum-board leadership survey conducted by the American Alliance of Museums uncovered a staggering statistic: About 46 percent of American museums have all-white boards of directors. But the alliance hopes that figure will change for the better soon. Over the next three years, the alliance will receive $4 million to bolster board diversity in a push to make museums more accessible and inclusive. The Ford, Andrew W. Mellon, and Alice L. Walton foundations joined forces to award the grant.
Full article text is available via The Chronicle of Philanthropy, 01/15/2019
Facebook Earmarks $300 Million For Local News Initiatives
Facebook will distribute $300 million across multiple local news projects over the next three years to support newsrooms and help publishers create new business models, the platform announced Tuesday. Donations include a $5 million endowment gift to the Pulitzer Center, $6 million for the UK-based Community News Project and a $20 million expansion of Facebook’s Accelerator, which helps publishers better monetize their audiences.
Full article text is available via Ad Exchanger, 01/15/2019