Mission Investing for Foundations: the Legal Considerations
This paper is a companion piece to the joint Community Foundations of Canada and Philanthropic Foundations Canada publication, “The state of Community/Mission-Related Investing of Canadian Foundations” by sustainability strategist Coro Strandberg. Foundations considering the potential of mission investing will find in that paper an extremely useful review of the reasons foundations are pursuing mission investing and the benefits – both to the community and to the foundation – that flow from the activity. It also profiles nine Canadian community foundations and private foundations that are engaged in exciting mission investing.
The specific focus of this paper, by lawyers Laird hunter, Susan Manwaring and Margaret Mason, is the set of legal considerations that foundations should take into account as they move forward in mission investing. It will be most useful for foundation investment committees and boards of directors as they explore integrating mission investing into their current portfolios.