We are shifting our endowment investments in ways that better align with our social, racial, and economic justice mission.
For example, in the public markets, we have moved a large swath of our stocks to be managed by Adasina Social Capital, a firm that is Black-owned and majority operated by women, people of color and members of the LGBTQ+ community. Adasina’s mission is to bridge financial markets and social justice movements by using shareholder activism to pressure corporations to treat people and the environment better.
In the private markets, we have invested locally in:
- Decarceration Fund – to fund innovative, non-extractive businesses that address the injustices of mass incarceration
- Norris Square Civic Alliance — to buy properties to convert into truly affordable housing for young families living in the neighborhood. The properties are held in a local Land Trust to preserve affordability
- Plain Sight Capital – to invest in underrepresented founders in early-stage tech and innovation
- Philadelphia Community Impact Fund – to invest in a mix of local Black and brown social impact entrepreneurs, bridging the gap in capital left by traditional lenders
- REC Philly – to strengthen supports, networks and spaces for local creatives and cultural workers
- ROAR for Good – to expand technology that protects housekeeping staff in hotels and all staff in hospitals from sexual harassment and assault
- The Reinvestment Fund – to make bridge loans available for community development in the Mid-Atlantic region.
- Ujima Developers — to buy real estate for community development and benefit in the East Parkside neighborhood of West Philadelphia
- Zenith Wealth Partners – to strengthen and grow a cohort of Black and brown-owned financial services businesses