Rockefeller Philanthropy Advisors

RPA and Godeke Consulting Announce Alliance to Advance Mission-Related and Impact Investing

Friday, March 5th, 2010

Offers unique continuum of independent guidance on all facets of emerging field, from developing policy to identifying and executing deals

NEW YORK (March 5, 2010) – Rockefeller Philanthropy Advisors has announced an alliance with noted investment advisory firm Godeke Consulting, which works with foundations, corporations, and non-profit clients to integrate financial and philanthropic goals. The goal of this alliance is to significantly extend and deepen the independent expertise available in the growing field of mission-related and impact investing.

Broadly defined, mission-related and impact investing are investment strategies that aim to achieve social or environmental change along with financial returns. Both approaches are increasing in use by a wide range of donors and investors.

The alliance, announced yesterday at an impact investing symposium sponsored by The Rockefeller Foundation and the Global Impact Investing Network, formalizes a longstanding relationship between Rockefeller Philanthropy Advisors and Godeke Consulting and builds on each entity’s existing strengths and shared commitment to raising awareness of the power of these approaches to effect sustainable change along with investment returns.

“Our role is to communicate the potential value of mission-related and impact investing, and to help donors develop the policies, tools and knowledge to take action to support their missions and goals,” said Melissa A. Berman, President and CEO of Rockefeller Philanthropy Advisors. “This complements Steve Godeke’s exceptional expertise in the asset management and deal flow aspects of the field. Our earlier successful collaborations made clear that a formalized alliance would enable us to offer all types of donors and investors an unparalleled model of sophisticated, independent counsel to guide them from theory to practice.”

The two organizations’ collaboration has included the development of Philanthropy’s New Passing Gear: Mission-Related Investing, and Solutions for Impact Investors: From Strategy to Implementation. Together, these publications are widely acknowledged as cornerstone guides in the field. This alliance hopes to attract more capital to this growing space through issue-specific and broader educational efforts and by assisting those exploring impact investment options through the decision-making processes. In addition, a key long-term goal is to narrow the gap between foundations’ program and investment professionals, which would contribute to a more integrated approach to impact investing.

“As more donors, trustees and investors understand that it is possible – and acceptable – to propel social change and achieve financial performance, the divide between financial investment and ‘traditional’ philanthropy is narrowing,” said Steven Godeke. “I look forward to working more closely with my colleagues at Rockefeller Philanthropy Advisors as these strategies become more widely recognized and implemented.”

In a related move, Rockefeller Philanthropy Advisors has named Rae Richman, a director based in its San Francisco office, as practice leader for the firm’s work in the MRI/impact investing arenas. Ms. Richman brings extensive experience to this appointment, from funding expertise in areas that offer MRI opportunities, such as climate change and education and long involvement in strategic consulting on issues of corporate social responsibility and community engagement. She leads a dedicated cross-firm team of four professionals and will also work closely with Chris Page, a senior vice president in the New York office.

“Deepening and broadening our involvement in mission-related and impact investing is a natural extension of work we have always done with donors interested in operating beyond traditional grantmaking models,” said Ms. Berman. “Collaborating with Steve Godeke will be an exciting endeavor with limitless potential for our respective and collective clients who seek to change the world in new and bold ways. We look forward to being a part of that change.”

Philanthropy’s New Passing Gear: Mission-Related Investing and Solutions for Impact Investors: From Strategy to Implementation are available at no cost by contacting info@rockpa.org or calling 212-812-4369. A PDF can also be downloaded from www.rockpa.org/pdfs.

About Rockefeller Philanthropy Advisors
Rockefeller Philanthropy Advisors (www.rockpa.org) is a nonprofit organization that currently advises on and manages more than $200 million in annual giving by individuals, families, corporations, and major foundations. Headquartered in New York City with offices in Los Angeles, Chicago and San Francisco, it traces its antecedents to John D. Rockefeller, Sr., who in 1891 began to professionally manage his philanthropy “as if it were a business.” With thoughtful and effective philanthropy as its only mission, Rockefeller Philanthropy Advisors has grown into one of the world’s largest philanthropic service organizations and as a whole has facilitated more than $3 billion in grantmaking to nearly 70 countries. RPA’s diverse staff of 42 is led by experienced grantmakers with significant depth of knowledge across multiple issue areas.

About Godeke Consulting
Godeke Consulting (www.godekeconsulting.com) is an independent investment advisory firm which works with foundations, corporations, and non-profit organizations to integrate their financial and philanthropic goals. Founded in 2001, it advises clients on the creation and execution of impact investment strategies across asset classes and program areas. Its services include strategy development, due diligence, negotiation and execution of impact investments, investment manager searches, and portfolio performance measurement. Clients include The Rockefeller Foundation, Robin Hood Foundation, The Conference Board, The F.B. Heron Foundation, The Altman Foundation, Common Ground, The World Economic Forum and corporate clients in the financial services and pharmaceutical industries.

Morgan Stanley’s Mack, Clooney Help Charities Beat Recession

Wednesday, February 24th, 2010

Bloomberg Online
Patrick Cole

George Clooney worked the phones day and night to produce a telethon last month that raised $66 million for Haitian earthquake victims.

Actor Alyssa Milano asked for donations instead of presents for her birthday party and raised $92,000 for charity: water, a New York nonprofit that builds wells in developing countries.
Morgan Stanley Chairman John Mack and Chief Executive Officers Leslie Moonves of CBS Corp. and Frank Bennack of Hearst Corp. helped Partnership for a Drug Free America raise $2 million at its December gala, topping the organization’s goal by $500,000.

With the U.S. in a severe economic slump, nonprofit groups must work harder to raise money and find new ways to reach patrons. While some are focusing on wealthy executives and celebrities, others are utilizing social network sites such as Facebook to reach a younger audience.

“The nonprofits that ask more people for donations are the ones that are succeeding,” Stacy Palmer, editor of the Washington-based Chronicle of Philanthropy, said in a phone interview. “They just have to work harder at it.”

Charitable donations by U.S. corporations may decline by up to 10 percent in 2009, according to Melissa Berman, chief executive officer of Rockefeller Philanthropy Advisors in New York. In 2008, those companies gave away $14 billion.

Read the full article.

Is now a good time to start a private foundation?

Monday, January 25th, 2010

Crain’s Chicago Business News
Samantha Stainburn

Starting a private charitable foundation when you inherit a small fortune, sell a business or take your company public is one way to minimize taxes while doing good. Although the recession has made such windfalls less common, entrepreneurs are still finding reasons to get into the giving game.

Attorney Denis Pierce, 65, an owner of Pierce & Associates P.C. in Chicago, planned to start a family foundation two years ago with money from the sale of his interest in the law firm. When the sale fell through, he launched the foundation anyway, but with less funding.

The Pierce Family Charitable Foundation, which helps non-profits working on housing issues, started in December 2007 with $1 million. Thanks to Mr. Pierce, it now has about $3 million in assets and provides technological, fundraising and bookkeeping assistance to 10 organizations and gives operating funds to 10 more. “I’m moving into semi-retirement mode, and it gives me a whole other area to think about,” he says.

Interested in hanging out your own foundation shingle? Proceed cautiously. “A common misconception is that a family foundation is just like a checkbook,” says Melissa Berman, president of Rockefeller Philanthropy Advisors in New York, a non-profit that advises private clients and foundations. “In actuality, you’ve started a non-profit company, and you have to file a tax return and make sure your financials are in order.”

Read the full article.

With less money to dole out, foundations become more targeted in their giving

Monday, January 25th, 2010

Crain’s Chicago Business
Monica Ginsburg

With less money to dole out, foundations have become more strategic in their giving, targeting fewer areas with larger grants to organizations that fit the bill.

“Doing fewer things well, in a deeper, more engaged way, is probably better than a scattershot approach,” says Phil Buchanan, president of the Center for Effective Philanthropy, a Cambridge, Mass., non-profit research organization. “Often the best way to prove and demonstrate results is to focus narrowly.”

Nationally, charitable contributions from foundations and individuals were down last year. Following a September survey, the New York-based Foundation Center expects 2009 will show a 10% drop in foundation giving once all the data are in. And more than three-quarters of survey respondents said they expect philanthropy to become more strategic as a result.

Read the full article.

Jefferies, Goldman, Morgan Stanley Pledge Haiti Aid

Tuesday, January 19th, 2010

Bloomberg Online
Philip Boroff and Katya Kazakina

Jefferies Group Inc., Morgan Stanley and Goldman Sachs Group Inc. each pledged at least $1 million for relief efforts following the Haiti earthquake, among many U.S. and European businesses offering aid to victims.

JPMorgan Chase & Co., Bank of America Corp., Amgen Inc., United Parcel Service Inc. Lowe’s Cos., Wells Fargo & Co., Eli Lilly and Co., Walt Disney Co., Western Union Co., France’s Credit Agricole SA and Britain’s Tesco Plc were among others that adonations.

Read the full article.