New Report from Jessie Smith Noyes Foundation: Building Power Across the Impact Investment Field

Jessie Smith Noyes Foundation has released a report on the lessons learned over the course of their seven-month-long search for an impact investment advisor. Steve Godeke, Board Chair of Jessie Smith Noyes Foundation, remarked that “While there is growing interest in and demand for social impact investing, there is very little documentation of how investment advisors operate, leaving social impact investors with few tools to navigate that space.” This report includes full transparency on Jessie Smith Noyes Foundation’s search process—from questions posed to investment advisors to the evaluative approach used—and offers thoughtful recommendations for those looking to embark on a similar journey. Ultimately, this report aims to “inspire anyone managing foundation endowments to explore opportunities for mission-aligned investing to generate long-term systemic change.”

From the report: “Diverging from the industry standard and embarking on a new process required that the Finance Committee and the Board go through significant education to align values, policy, and practice. Before soliciting external input, Noyes needed to define internal goals for this process and develop an internal consensus around key competencies for seeking an advisor. We recommend our peers take similar steps to align internal expectations and prioritize objectives before issuing an RFP for investment consultant services.”

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