And our health-tech fund managers have invested in 15 companies developing diagnostics, therapeutics, and vaccines in the Global South. . The board of trustees then commissioned the Gaither Study Committee to chart the foundation's future. The Ford Foundation is an independent organization working to address inequality and build a future grounded in justice. The board of directors decided to diversify the foundation's portfolio and gradually divested itself of its substantial Ford Motor Company stock between 1955 and 1974. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. All videos produced by the Ford Foundation since 2020 include captions and downloadable transcripts. In 2011, right wing Israeli politicians and organizations such as NGO Monitor and Im Tirtzu claimed the NIF and other recipients of Ford Foundation grants supported the delegitimization of Israel. Cox focused on its governance, potential conflicts of interest among board members, and what he viewed as its poor record of giving to charities in Michigan. Second, our performance was achieved during a period of extraordinarily favorable market conditions. We started with two areas of investment: affordable housing focused on multifamily rentals in the U.S. and financial inclusion in the Global South. Before Morgan Stanley, Swan was the founding Chief Investment Officer of New York Citys Upper Manhattan Empowerment Zone (EZ), a federal initiative designed to bring new resources to distressed urban communities. [64] The CIA would channel its funds through Ford Foundation as a part of its covert cultural war. This criticism peaked after the 2001 World Conference Against Racism, where some nongovernmental organizations funded by the foundation backed resolutions equating Israeli policies with apartheid. Learn more. For videos where visuals require additional understanding, we offer audio-described versions. In 2017, we made a historic commitment to invest up to $1 billion of our endowment to address social problems while seeking a risk-adjusted market rate of financial return. To close this gap, we promote investment with diverse fund managers to reduce social injustice and build a stronger, more inclusive economy. As part of that larger goal, the foundation will continue to make programmatic grants that enrich the evidence base and market standards for impact investing. Box 6248 Dearborn, MI 48126 Telephone: (800) 555-5259 (U.S. and Canada) (313) 845-8540 (International) 1. He has immense experience and leadership ability, and with our partners in this exciting field, hes so well positioned to innovate to help the market grow with integrity and produce meaningful impact on peoples lives., Press Line [11], After its establishment in 1936, Ford Foundation shifted its focus from Michigan philanthropic support to five areas of action. The overall number of key employees were 8. In the 1950 Report of the Study of the Ford Foundation on Policy and Program, the trustees set forth five "areas of action," according to Richard Magat (2012): economic improvements, education, freedom and democracy, human behavior, and world peace. Our Mission Investments are overseen by a committee of the foundations board, which is 60% women and 60% people of color. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. For more than 80 years it has worked with courageous people on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. First, we plan to invest more capital in quality jobs. Time for Ford Foundation & CFR to Divest? Videos from third-party sources (those not produced by the Ford Foundation) may not have captions, accessible transcripts, or audio descriptions. Use the CB Insights Platform to explore Ford Foundation's full profile. Eric joined Ford in 1989 as resident counsel, working closely with the investment team. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Companies might knowingly or unknowingly contribute externalities to society. But opting out of some of these cookies may have an effect on your browsing experience. In the US, women and people of color manage only 1 percent of the $71 trillion in assets under management. Between 1998 and 2002, the foundation gave Michigan charities about US$2.5 million per year, far less than many other charities its size. 2. Save this fund for later to form your own custom list of funds, This summary is composed by our algorithm based on the analysis of the deals. The Ford Foundation follows in the footsteps of peer organizations that have helped to pioneer the movement of directing endowment assets to impact investments. Please note that the foundation never charges a fee in connection with its grants. These messages are fraudulent. Maggie is a fearless journalist who not only presents the jaw-dropping facts, but who moves deeper to tell the human story behind each of these heartbreaking cases, said Flom. Third, we are currently living through a period of high inflation, rising interest rates, and slowing growth. These cookies will be stored in your browser only with your consent. Capria, a global investment firm with the one of the largest networks of fund managers, works to deliver superior returns in emerging and frontier markets using flexible capital, advanced investment systems, and deep partnerships. As the company's philanthropic arm, Ford Fund has supported local communities for more than 70 years. While we are pleased with that strong performance, which was driven by careful investment manager selection and effective portfolio diversification, we also know it is far too early to draw a conclusion about the programs long-term financial sustainability. Foundations by Total Giving", "Rockefeller Archive Center to House Ford Foundation Records", "Ford outlays seek to broaden 'public media', "A History of the San Francisco Actor's Workshop", "An Overview of the Ford Foundation's Strategy for Population Work", "A quest for better contraception: The Ford foundation's contribution to reproductive science and contraceptive development 19591983", "43 years after Roe v. Wade, why we (still) need reproductive justice", "Rallying outside the Supreme Court to support abortion rights", "Case 36: Social Movements and Civil Rights Litigation", Ford Foundation 1967", "Guide to the National Council of La Raza Records,1968-1996", "Four Decades of Protecting Latino Civil Rights", "Southwest Voter Registration Education Project", "The Ocean Hill-Brownsville Crisis: New York's Antigone", "The Oldham Notebooks: An analysis of the development of IVF 1969-1978. At least half of the worlds population does not have access to essential health services. With headquarters in New York, the foundation has offices in Latin America, Africa, the Middle East, and Asia. [9] For many years, the foundation's financial endowment was the largest private endowment in the world; it remains among the wealthiest. But we face an uphill battle to create a new kind of capitalism that prioritizes purpose alongside profit and benefits multiple stakeholderscustomers, employees, and communitiesalongside shareholders. 2020 Audited Financial Statements and Footnotes 23 June 2021 Download pdf 1.53 MB The foundation's highest priority is to ensure that our grantees have the resources necessary to address today's most pressing social justice challenges. [44] In the same year, the foundation funded the establishment of the Southwest Council of La Raza, the predecessor of the National Council of La Raza. Over the years, the Ford Foundations grantsdrawn entirely from returns on its endowmenthave helped improve hundreds of millions of lives through social sector innovations such as the Green Revolution, microfinance, public-private partnerships in cities, legal aid, and the creation of public broadcasting and Sesame Street, as well as support for history-changing movements such as the civil rights and womens movements in the US, the fight against apartheid in South Africa, and the protection of human rights dissidents and defenders in Latin America in the 1970s and in the Soviet Union in the 1980samong many other achievements. [58][59], Ranked No. We use cookies and similar technologies to improve your user experience. $99 million of $191 million in investments placed with diverse managers. Mission Investments has generated a compound annual return rate of 28% from its inception in 2017 through 2021. [12] These areas of action were identified in a 1949 report by Horace Rowan Gaither. She was named a NPR Next Generation Radio fellow and counted in Ford Foundations 50 Women Can Change the World in Journalism. Freleng is also a sought-after on-screen expert commentator who has appeared for feature segments on VICE, Oxygen, and Dr. Phil, among others. We invest in fund managers working to help the billions of low-wage earners in the Global South access affordable financial products and services. Throughout his career, Swan has been committed to enhancing the quality of life in low-income neighborhoods. In 2019, The Markup welcomed Nabiha Syed as the organizations first president, in advance of the publications launch in February 2020. For fiscal year 2014, it reported assets of US$12.4 billion and approved US$507.9 million in grants. Darren Walker, Swan will lead a dedicated team managing the portfolio announced in April, when Ford committed to invest $1 billion over the next ten years in mission-related investments (MRIs). In 1951, the foundation made its first grant to support the development of the Public Broadcasting Service (PBS), then known as National Educational Television (NET), which went on the air in 1952. LinkedIn sets this cookie to store performed actions on the website. This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website. The final cohort has been selected, and the program will conclude in 2013. It quickly became clear that the foundation would become the largest philanthropic organization in the world. Please submit PRIs and MRIs to [emailprotected]. His team also leads one of the nation . The foundation hopes to propel . Funded by Ford, Capria cultivates venture capital, private equity, and other debt and equity funds backing early-growth businesses founded by women and people of color. A press release announcing the grant pointed to the assistance given by the Fighting Group to carefully screened defectors to come to the West. This video is displayed using Able Player, a fully accessible media player. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. 2023 Ford Foundation, some rights reserved. Our team includes four investment professionals, one investment operations professional, and one senior program officer, whose collective backgrounds include investing, corporate finance, investment banking, law, general management, and investment accounting and reporting. With vast investment experience, success in managing portfolios, and a commitment to social returns, Swan is perfectly suited for this position. IFP is entering its concluding phase. We also use third-party cookies that help us analyze and understand how you use this website. He is responsible for managing the foundations investment portfolio.Eric joined Ford in 1989 as resident counsel, working closely with the investment team. He is a director of Arch Capital Group, Ltd., Harvard Management Company, and Makena Capital Management, LLC.Eric received his undergraduate degree with honors in social science from the University of Chicago, studied international economics at the Walsh School of Foreign Service at Georgetown University, and received a law degree from New York University School of Law. The Ford Foundation makes between $500 million and $600 million in grants each year. In 2021, we instituted a policy to manage the Mission Investments endowment contribution to the foundations spend rate because our portfolio has generated cash distributions that are more than sufficient. In response, the Ford Foundation tightened its criteria for funding. To create a good investment portfolio, an investor or financial manager should take note of the following steps. To reduce poverty and injustice, strengthen democratic values, promote international cooperation, and advance human achievement. So I was intrigued when I read news reports about the Ford Foundation and four other philanthropies increasing the annual amount they distribute by borrowing $1.7 billion, which Ford got started by selling $1 billion in bonds at the end of last month. This cookie is installed by Google Analytics. Kellogg Foundation, The Libra Foundation, Rockefeller Foundation. Our affordable housing fund managers have helped preserve over 23,000 rental units for families across the United States. Though the foundation is headquartered in New York City, it is chartered in Michigan, giving that state some jurisdiction. Copyright 2023 CB Information Services, Inc. All rights reserved. [62], In 2007, the Ford Foundation co-founded the independent Native Arts and Culture Foundation by providing a portion of the new foundation's endowment out of the Ford Foundation's own. The typical case for the fund is to invest in rounds with 3-4 participants. A well-respected investment and corporate executive with a passion forusing finance to achieve social impact, Swan will begin his new position on January 4, 2018. It stands to reason that employees who are treated like owners and given voice alongside good wages, benefits, training, adequate sick leave, and scheduling certainty training will act like owners. 2023 Ford Foundation, some rights reserved. Chelsea on the Edge: The Adventures of an American Theater, Guide to the Robert Redfield, Ford Foundation Cultural Studies Program Records 1951-1961, University of Chicago Special Collections Research Center, https://en.wikipedia.org/w/index.php?title=Ford_Foundation&oldid=1127616224. 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