What's In Your Philanthropy? New Platform Puts 'Idle' Donor Advised Fund Assets To Work For More Social Impact Through Investmen
18 Novembre 2008 - 5:03PM
PR Newswire (US)
Calvert Foundation Launches 'Global Impact Ventures' Platform to
Allow Donor Advised Funds to Start Making a Difference Even While
Funds Await Distribution BETHESDA, Md., Nov. 18 /PRNewswire/ -- In
the current market downturn, individuals seeking to squeeze the
most impact from their shrinking philanthropic assets have an
important new alternative to explore in Calvert Giving Fund's
"Global Impact Ventures" platform, offered by Calvert Social
Investment Foundation (Calvert Foundation). With the launch of this
unique platform, Calvert Foundation is making available a way to
"put to work" philanthropic assets awaiting grant making in Donor
Advised Funds (DAF) so that the assets create positive change
throughout the world. This means that if a donor advisor
distributes the typical 5 percent or more of DAF assets in a given
year, the other 95 percent of the assets can be invested in a way
that achieves high social impact. Tim Freundlich, director,
Strategic Initiatives, Calvert Foundation, said: "Calvert Giving
Fund offers philanthropists a unique platform where every donated
dollar can help communities before the funds are eventually granted
to nonprofits. In response to the current market and dramatic
increase in the need for charitable services globally, Calvert
Giving Fund helps philanthropists maximize impact and stretch every
philanthropic dollar." Calvert Foundation allows DAF investors to
access the industry leader Calvert Group's sustainable and
responsible mutual funds, including the newest additions of the
Calvert Global Alternative Energy Fund (Ticker: CGAEX) and the
Calvert Global Water Fund (Ticker: CFWAX). In addition to mutual
funds, Calvert Giving Fund offers Calvert Foundation's Community
Investment Note, which allows investors to support affordable
housing, microfinance, and social enterprises. To these offerings,
Calvert Foundation has now added a new range of cutting-edge social
purpose private debt and equity funds, including: -- Acumen Capital
Markets I - international social venture fund targeting solutions
for the four billion people living on less than $4 a day; --
MicroVest Equity Fund II - supplying equity capital to
international microcredit banks working with the entrepreneurial
poor; -- LeapFrog Investments - going beyond microcredit, to offer
health and life "micro insurance" to the world's disadvantaged
populations; -- Public Radio Fund - expanding delivery of
noncommercial radio in the U.S.; and -- Root Capital - financing
grassroots Fair Trade cooperatives in the developing world. Calvert
Giving Fund's "Global Impact Ventures" platform provides every
donor advised fund access to an unprecedented range of flexible
social purpose investments. By investing philanthropic assets
awaiting grant making and using an investment strategy focused on
positive social and environmental outcomes, philanthropists magnify
the charitable impact achieved with their donated funds. Assets are
invested, and generate measurable financial and social returns back
to the DAF - even if it will be years before they are distributed
to the nonprofits that are the ultimate recipients. More investment
opportunities will be added over time, and donor advised funds can
select options one-by-one or use the platform to create a "fund of
funds" model. The platform breaks down barriers for participation,
allowing DAFs to access funds at much smaller minimums of $25,000
per venture fund (typically $100,000+), without the paperwork and
headache normally associated with this type of investing.
Freundlich added: "Calvert Giving Fund's strategy to utilize
philanthropic dollars for social change prior to granting is even
more relevant in the current financial climate. Our platform brings
a commitment to full integration of sustainability and
accountability, not just shareholder profit maximization. We are
connecting our donor advisors with some of the best social venture
funds that are, literally, the remedy to what is ailing our
markets." Calvert Giving Fund is an industry leading donor advised
fund platform. Donors can establish a DAF for as little as $5,000
and Calvert Giving Fund accepts a variety of assets as
contributions, including real estate. Donors are offered the
ability to make grants to 501(c)(3)s, approved international
organizations, most schools and churches. Calvert Giving Fund
enables individuals to become better philanthropists through
socially responsible investing, without the challenges and costs of
setting up a private foundation. About Calvert Foundation For over
13 years, Calvert Foundation, a nonprofit 501(c)(3) organization,
has been working to make community investment a safe and logical
option for all investors seeking to make a positive social impact.
To make community investment accessible to a wider audience,
Calvert Foundation has removed critical barriers by creating
investment products that blend both financial and social returns.
With more than $200 million in assets, Calvert Foundation focuses
on using investment capital, rather than conventional philanthropy,
to create a sustainable, scalable model that enables nonprofit
organizations, microfinance institutions and social enterprises to
address critical social problems. Calvert Giving Fund participates
in a growing trend toward the integration of social, environmental
and governance issues into donor advised fund management. More
information is available at http://www.calvertfoundation.org/ and
http://www.calvertgiving.org/. DATASOURCE: Calvert Foundation,
Bethesda, MD CONTACT: Patrick Mitchell, +1-703-276-3266, , for
Calvert Foundation, Bethesda, MD Web Site:
http://www.calvertfoundation.org/
Copyright