2020 SFF AnnualReport - Page 42



IMPACT INVESTING
Mission-Aligned
Investments Pool
W
e use our assets to deepen the power of
our work through impact investing.
We launched this investment pool In March
2019 with a $50 million investment from
our endowment to generate positive social
and financial returns by using certain social
screens and environmental, social, and
governance criteria. Subsequently, $25
million has been contributed to the pool by
our donors. Our investment — 6.7 percent of
our $750 million endowment — represents
a significant commitment to impact investing, particularly when compared to other
foundations. A 2019 survey by Exponent
Philanthropy found that just 17 percent
of foundations were engaged in impact
investing of any kind. This influential work
has enabled us to serve as a resource for
others who would like to learn more about
our approach.
Managers within the Mission-Aligned
Investments pool do not invest in predatory
lenders, private prisons, tobacco companies,
retailers that sell assault weapons to the
public, and fossil fuel companies. Numerous
managers in our core portfolios have also
agreed to invest according to these principles, resulting in $570 million of mission
aligned investments for the foundation.
Bay Area Community
Impact Fund
O
ur program-related investments are
designed to support our local community
and expand beyond financial returns.
Since 2009, our program-related investments fund has directly invested more than
$11 million to build and preserve affordable
housing, create jobs, and ensure thriving
communities in the Bay Area. Last year, we
re-launched the program with a new name —
the Bay Area Community Impact Fund. The
fund is fueled by the foundation and donors
who want to invest in this
high-impact loan pool.
Irma Villa was able to open a tailor shop in Oakland thanks to a microloan
from Grameen America funded by SFF’s Bay Area Community Impact Fund.
40
2020 Annual Report
The fund provides nonprofits with low-interest, longterm loans to expand their
activities and work on projects that make a difference
in Bay Area communities.
Better yet, as borrowers
repay their loans, the fund
uses that money to finance
other important initiatives.
Capital not deployed in
direct loans is invested
in other mission-aligned
assets, including insured
deposits in local community banks and credit unions
and investments that





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