Executive Director, Gaylord & Dorothy Donnelley Foundation
Consultants
The engagement of traditional consultants as well as specialized consultants is an important part of a foundation’s process to start mission investing. The list also includes Legal Counsel that specialize in tax issues related to mission investing.
The consultants and legal counsel listing does not imply an endorsement by the More for Mission Campaign Resource Center or the More for Mission Campaign. We welcome feedback on experiences with consultants and laywers as the list will continue to be revised.
Consultants
* Dedicated Mission-Related Investment Consultants/Advisors
* Institutional Consultants/Advisors (with a dedicated Mission Related/Responsible Investment Team)
* Research Consultants
Dedicated Mission-Related Investment Consultants/Advisors
Following is a list of dedicated mission-related investment consultants that either:
• Advise their clients specifically on mission-related strategies (both PRIs and market-rate investments) or,
• Broadly integrate environmental, social, and governance (ESG) factors in their investment management process.
These consultants work with foundations in designing a mission-related investment or community investing strategy and may also manage and deploy assets on behalf of their clients.
Aquillian Investments, LLC, San Francisco, CA (Headquarters)
Headquartered in San Francisco, founded in 2004, Aquillian Investments is a specialized advisor for investors seeking comprehensive market research and prudent investment opportunities in clean technology, sustainable natural resource management, and health and wellness innovation. For more information contact Geoff Eisenberg geisenberg@aquillian.com
Arnerich Massena & Associates, Inc., Portland, OR
Arnerich Massena & Associates, Inc. is a West Coast based investment advisory firm that specializes in working with foundations and endowments, retirement plan sponsors, and private investors to manage investment programs. Arnerich Massena provides clients a broad range of investment opportunities, across the full spectrum of asset classes, that meet stringent criteria for sustainability and adherence to environmental, social, and governance practices. For more information contact Lynn Spruill at mlspruill@am-a.com.
Asset Strategy Consultants, West Palm Beach (MRI group)
With mission investing expertise in their West Palm Beach office, Asset Strategy Consultants is a boutique investment consulting firm that works on mission investing with endowments, foundations, and retirement plans.
Benchmark Asset Managers, LLC, Philadelphia, PA
Benchmark is an investment management company focused on sustainable investing that advises mission-driven foundations and organizations as well as high net worth individuals. Benchmark uses capital markets as a powerful instrument for sustainable change and positive social impact while providing investment returns. For more information contact Jessy Nadar, 215-525-4857 or nadar@benchmarkam.com
Blue River Investment Partners, Atlanta, GA
Blue River Investment Partners, LLC is a private equity consulting and investment firm providing advisory services for direct, private equity investments, Venture Capital and Private Equity fund commitments as well as other Alternative Investment opportunities including double- and triple-bottom line investment opportunities. For more information contact James H. Bratton, 404.433.9554 or jbratton@blueriverip.com
Brody Weiser Burns, Branford, Connecticut
With offices in Branford, Connecticut and Washington D.C., Brody Weiser Burns helps nonprofit organizations accomplish their missions through strategic planning, research, board development and organizational capacity building. Brody Weiser Burns assists foundations and other institutions in structure and managing program-related (PRI) and social purpose businesses as well as facilitating partnerships between business and non-profits.
Calvert Foundation: Advisory Services, Bethesda, MD
Calvert Foundation offers a Community Investment Partners program, which leverages the experience and knowledge they’ve gained from establishing their community investment program. Calvert’s team of professionals helps social investors, banks, insurance companies, mutual funds, foundations, nonprofits and Community Development Finance Institutions (CDFIs) set up and manage investment programs that earn a modest return yet have an enormous social impact on underserved communities. They also help organizations customize debt and equity programs through services such as: asset management, investor and regulatory administration, due diligence and risk management. For more information contact Lori Scott at lori.scott@calvertfoundation.org
Godeke Consulting, New York, NY
Since 2001, Steven Godeke has been an independent philanthropic investment advisor who works with foundations, corporations, and non-profit organizations to integrate their investment and philanthropic goals. He advises organizations and individuals on the creation and execution of mission-related investment strategies across asset classes and program area. His services include due diligence, structuring, negotiation, documentation and portfolio management of mission-related investments. For more information contact Steven Godeke 212-255-1541 or steve@godekeconsulting.com
GPS Capital Partners, Pasadena, CA
GPS Capital Partners, LLC was founded in 2006 to assist foundations and other institutional investors to design and implement sound investment strategy that enhances mission and public purpose goals, including market-rate and below market-rate investments and the range of asset classes. GPS’s foundation consultancies range from family foundations to a number of the nation’s largest foundations, with program areas ranging from healthy communities and health care to education, sustainable economic development, family economic security, small business, and arts and culture. For more information contact Lisa Richter, Principal, lrichter@gpscapitalpartners.com
Imprint Capital Advisors, San Francisco, CA
Imprint Capital Advisors catalyzes capital for impact by developing and executing on mission investing strategies for leading foundations, family offices, individuals, and their trusted advisors. Imprint advises, designs, and manages client portfolios across issue areas, asset classes, and return profiles. For more information contact John Goldstein, 415-982-5900 or john@imprintcap.com
Robert Brooke Zevin Associates*
Robert Brooke Zevin Associates was established in 1997. Robert Zevin, founder of the firm, has been a pioneer of SRI since 1967. Ben Lovell, the firm's other portfolio manager, has been actively practicing SRI since 1985. With the help of its most recent addition, a Director of SRI, they hope to expand work in shareholder initiatives, corporate dialogs, and community investing in addition to screening of investments according to client criteria. Their investment approach starts from the idea that most professional investors do worse than their benchmarks because they take too much risk. Their first objective is to avoid major losses rather than seeking big gains. For more information contact Sonia Kowal, 617-742-6666 or sonia@rbza.org
*Robert Brooke Zevin Associates, distinct from a consultant advising on a portfolio allocation strategy and potential investments, is an Investment manager actively managing and investing money for its institutional and individual clients including numerous foundations involved in MRI.
Sand Hill Advisors, Palo Alto, CA
Founded in 1982, Sand Hill Advisors is a wealth management firm in the San Francisco Bay Area. Their team of professionals provides comprehensive financial planning and wealth management services for high net-worth clients, including individuals, families, charitable organizations and select institutions.
Springbanc Social Capital Advisors, Beverly Hills, CA
Springbanc Social Capital Advisors (SSCA) is a nationally focused advisor specializing in the social capital markets. They advise foundations, social entrepreneurs and high net worth families in their quest to deploy capital more effectively and efficiently to fund social change. Their services include strategic planning and structuring, mission investing planning and support, PRI sourcing, due diligence, terms negotiation and continued review through the funding or investment cycle. SSCA will also setup the vehicle to manage social investments. For information contact Jonathan Jaffrey, CEO, 213-248-5117 or jdj@springbanc.com
Stephen Viederman, New York, NY
Stephen Viederman assists foundations and family offices to maximize their impact by harmonizing their grant making programs with their investment activities. As a Foundation President, Board Member, and Finance Committee member for almost 20 years Steve has, among other work in this area, helped boards, finance committees and program staff develop processes and comfort levels to approach mission-related investing (MRI) and MRI investment policies. Stephen Viederman can be reached at 212-639-9497 or 917-751-4461 or sviederman@gmail.com.
Trillium Asset Management Corporation, Boston, MA (Headquarters)
For nearly three decades, Trillium has focused exclusively on sustainable and responsible investing, offering an array of services for foundations, endowments, religious institutions and high net worth individuals. Since it’s founding in 1982, Trillium has provided clients with customized portfolios, competitive investment returns, and a commitment to sustainability. Through investment, research, and advocacy Trillium works to advance the environmental and social goals of institutional and individual clients. Trillium is also the Co-Founder of Ceres, the Social Investment Forum, SIRAN (Sustainable Investment Research Analyst Network) and Open MIC (Open Media and Information Companies Initiative). For more information contact Lisa MacKinnon, 617-423-6655 or lmackinnon@trilliuminvest.com.
Urban Advisors LLC, Charlotte, NC
Urban Advisors LLC is a minority-owned independent consulting firm specializing in community development finance. They work across the asset classes of private equity (venture capital and mezzanine), real estate (equity and mezzanine), and fixed income with additional experience in investment banking and mergers and acquisitions. For more information contact David Sharp, david_sharp@bellsouth.net
Institutional Consultants/Advisors (with a dedicated Mission Related/Responsible Investment Team)
Following is a list of consulting firms that have a dedicated MRI group. These consultants work with their foundation clients to develop a strategy for initiating and implementing an MRI program that may include total portfolio oversight.
Aon Investment Consulting, Los Angeles, CA
Aon Investment Consulting provides objective investment consulting services to institutional clients, including retirement plans, endowments and foundations, and corporate reserve funds. The firm assistis clients with strategic planning, investment policy statements, asset allocation studies, investment manager and fund searches, performance evaluation, and investment education. Aon Investment Consulting (AIC) established a dedicated Foundations & Endowments team to assist clients with implementing their strategies. For more information, please contact Martha Spano at martha_spano@aon.com or 213-630-2070.
Asset Consulting Group, St. Louis, MI
Since 1989, Asset Consulting Group has partnered with clients to develop customized solutions to complex investment issues. Their aim is to help clients meet long-term investment objectives in the most effective way possible.
Cambridge Associates, Boston, MA (Headquarters)
Cambridge Associates established a Mission-Related Investing Group to assist clients to develop and implement investment strategies consistent with their MRI goals and objectives. The group provides services ranging from steering clients toward the well-established shareholder activism community to building and overseeing a portfolio of marketable and non-marketable alternative asset MRI managers. With the number of investment opportunities in this field expanding substantially, the group is also increasing its database of institutional quality MRI managers and evaluating these managers for its clients. For more information contact Jessica Matthews, jmatthews@cambridgeassociates.com
Colonial Consulting, New York, NY
Founded in 1980, Colonial Consulting is able to provide assistance in the design/selection/oversight of community investment portfolios as well as significant research regarding Socially Responsible Investment strategies − working to expand product offerings in some cases. They have experience working with the complexities of a community foundation − separate donor portfolios, donor advised funds, and spending policies.
Consultiva Internacional Inc., New York, NY (Headquarters)
Consultiva International is an independent, employee owned investment management consulting firm that designs and implements customized investment strategies for institutional and individual clients. The Firm is committed to providing objectivity, transparency and accountability in imparting investment advice to endowments, foundations, pension plans, participant-directed plans, credit unions, labor unions, insurance companies and individuals. Consultiva is a Signatory to the UN Principles of Responsible Investing and develops investment policy and strategies for mission-related, sustainable and economically targeted investing. For more information contact Myrna Rivera, 787-763-5868 or mrivera@consultiva.com
Evaluation Associates, Norwalk, Connecticut
Launched as an independent organization in 1976, and acquired by Milliman, Inc. in 2004, Evaluation Associates (EAI) provides full service investment guidance to institutional investors. EAI's mission is to assist clients in effectively managing their assets to meet or exceed their long-term investment objectives. EAI has long experience and expertise in working with organizations that have mission-related mandates for their investment programs. For more information contact Janet Kalwat, kalwat@evaluationassociates.com
Federal Street Advisors, Boston, MA
Founded in 1991, Federal Street Advisors delivers investment consulting advice and service foundations and wealthy individuals and families. Federal Street Advisors currently work with 15 foundation clients who represent almost $1.0 billion in combined assets. The firm is able to incorporate social criteria and mission related investments into the investment program as appropriate. For more information, contact Jennifer Murtie, 617-350-8999 or jmurtie@federalstreet.com
The Leonard Social Investment Group / UBS Institutional Consulting, Boulder, CO
The Leonard Social Investment Group is a Consultant to foundations, endowments, nonprofits, and individuals offering customized solutions for wealth management strategies, sustainable investing, shareholder advocacy, community investing and philanthropy. The team has 75 years of combined experience in the financial services industry, with 40 of those providing SRI consulting services. The team develops personalized strategies designed to serve clients that are either just beginning to consider how social investing may fit into their portfolio or if they have decided to fully transition their portfolio. For more information, contact Kathy Leonard, Institutional Consultant, at UBS Institutional Consulting, 303-402-5501 or kathy.a.leonard@ubs.com
Mercer Consulting, Toronto, Canada (SRI group)
Mercer is a global consulting firm with offices in over 180 cities and 40 countries. They advise institutional clients on approaches to incorporating SRI into the investment decision making process. The process identifies performance indicators such as good employee relations, environmental leadership, and a strong record of good governance that could positively impact a company’s outlook.
RBC SRI Wealth Management Group, San Francisco, CA
The RBC SRI Wealth Management Group works with foundations, organizations and private investors who seek comprehensive wealth management strategies that complement their vision for social change. The team of seven investment professionals consults on over $1 billion in assets and is exclusively focused on social and is exclusively focused on social and environmental investing.
Stratford Advisory Group, Chicago, IL
Stratford Advisory Group is an independent, full-service investment consulting firm with research resources devoted to mission investing. The firm provides investment consulting advice to a variety of clients including endowments, foundations, and private wealth. For more information contact Charles J. French, IV, 312-798-3200 or chuck.french@stratfordag.com
Threshold Group, Gig Harbor, WA (Headquarters)
An independent wealth advisor for families, Threshold Group serves a select "community" of goal-oriented families. Wholly owned by its founding family and entirely independent in its advisory relationships, Threshold evaluates each family's needs to provide a customized and fully integrated service plan, including collaboration with existing advisors and oversight of professional services. Threshold’s goal is to provide successful families with the freedom to achieve what matters most. For more information contact Craig Muska, cmuska@thresholdgroup.com
UBS Global Asset Management, Sustainable & Responsible Investments (SRI), Chicago, IL
The SRI team at UBS Global Asset Management works closely with endowments & foundations to match investments with their mission and financial goals. The team manages approximately USD 1.6 billion (as of September 30, 2009 for UBS Global Asset Management division worldwide) in a range of broad "Environmental-Social-Governance (ESG)" and specialist "thematic" portfolios and has been a leader in SRI investing since 1996. The team has a positively-screened approach effectively combining traditional financial expertise with robust sustainability criteria and carries out in-depth research in the areas of climate change, water, demographics and development. For more information, contact Vijaya Govindan at 312-525-7981 or vijaya.govindan@ubs.com
Research Consultants
Correlation Consulting, San Francisco, CA
Founded by Georgette Wong in 2006, Correlation Consulting provides strategic guidance for investors seeking premium and/or market-rate returns from socially and environmentally conscious investments. With the Take Action! Summits, Correlation brings together leading foundations, families and pension plans to explore with their fellow decision-makers how - and if - they may achieve both great returns and desired social and environmental impact. The 2008 gathering brought together 100 investors representing more than $2.7 trillion in assets. For more information contact Georgette Wong, President, 650-759-4769 or georgette@correlationconsulting.com
Equilibrium Capital Group LLC, Portland, Oregon
Equilibrium Capital Group is an investor focused on building the leading companies for a sustainable future. Equilibrium invests in growth stage companies in the areas of green building, resource management (energy, water, and waste), and the food shed. Eq-Cap is also an active participant and leader in building the needed financial industry infrastructure required to fully support these next generation companies. Kipp Baratoff, a Principal in the firm, works specifically with Mission Related Investments and institutional investors (philanthropic and non-philanthropic) looking to develop direct investment platforms in Equilibrium’s target sectors. The firm can manage and deploy assets for investors with sector specific strategies. For more information contact Kipp Baratoff at baratoff@eq-cap.com
FSG Social Impact Advisors, Boston, MA (Headquarters)
Founded in 1999 (became a nonprofit in 2006 to pursue a broader mission) with 60 full time professionals with offices in Boston, San Francisco, Seattle, and Geneva. FSG Impact advisors offers leading foundations expertise on how to increase their social impact-offering experienced, data-driven counsel in four areas: strategy development, evaluation, organizational alignment, and corporate social responsibility. FSG Social Impact Advisors has completed studies on the field of mission investing and its growth and advises foundations in areas such as linking mission investments with program strategies.
Rockefeller Philanthropy Advisors, New York, NY (Headquarters)
Rockefeller Philanthropy Advisors (RPA) has a full time staff of 35 in New York, Los Angeles and San Francisco and a network of affiliates and partner organizations worldwide. RPA provides research and counsel on charitable giving, develops philanthropy programs, and offers complete program, administrative and management services for foundations and trusts. RPA works with foundations on mission investing strategies and implementation tools.
Legal Counsel
Arnold & Porter, LLP
Arnold & Porter attorneys conduct business on six continents, and have several large, national and international nonprofit and foundation clients engaged in PRI/MRI related and social venture investment activities. Washington D.C. based partner, and head of the firm's tax-exempt organizations practice, James Joseph advises tax-exempt organizations including public charities, colleges and universities, private foundations, and trade associations in multiple tax related areas.
Baker and Hostetler, LLP
Baker and Hostetler was founded in 1916 and now has offices in ten major U.S. business centers. Washington D.C. based, Edward J. Beckwith specializes in establishing and guiding the operations of charitable and educational organizations with respect to the maintenance of the tax-exempt status of such organizations and the tax aspects of contributions and other financial support programs.
Clark Hill PLC
A Midwest law firm with attorneys in Detroit, Birmingham, Grand Rapids, and Lansing, Michigan and Chicago, Clark Hill PLC has a history dating back to 1890. Detroit based, Duane Tarnacki’s practice includes representing and advising tax-exempt organizations such as private foundations and community foundations. Mr. Tarnacki has authored several articles on the topic including The Responsibilities of Service: A Guide for Directors of Nonprofit Organizations in Michigan
DeMent and Marquardt, PLC
Found in 1994 and based in Kalamazoo, Michigan, DeMent and Marquardt is a law firm that specializes in working with representatives of charitable organizations and foundations. Daniel DeMent has published articles on the topic, including “Using a Community Foundation to Achieve Charitable Goals” Estate Planning.
Gammon & Grange, P.C
Formed in 1977 and based in McLean, Virginia, the nonprofit and exempt organization law attorneys at Gammon & Grange represent a wide variety of nonprofit organizations throughout the country, including charities, churches and other religious ministries, associations, and universities. George R. Grange II and Jane Allison Austin are attorneys at a law firm specializing in nonprofit legal issues.
Manatt, Phelps & Phillips
Mannatt, Phelps & Phillips, a legal firm with their largest offices in Los Angeles, New York City, Palo Alto, San Francisco, Orange County and Washington, D.C., has a practice for non-for-profit organizations. Jill Dodd, based in San Francisco, focuses on the representation of charitable organizations in all aspects of their operations, from tax and regulatory work, to governance and operational issues, and on trusts, estates and wealth transfer planning for very high net worth individuals and families, with a particular emphasis on planned charitable giving.
Marc J. Lane Wealth Group
Located in Chicago, the firm has experience in the development of L3Cs and provides assistance in evaluating the feasibility of social-purpose ventures, rendering opinions of counsel in support of Program Related Investments (PRI), and pursuing the legal and financial opportunities of venture philanthropy. Marc Lane is the pioneer behind the Advocacy Investing approach to mission-related investing and a Director of Social Enterprise Alliance, the national association of enterprising nonprofits and social-purpose businesses.
Milbank, Tweed, Hadley & McCloy, LLP
Headquarter in New York City, with ten offices worldwide, Milbank has been at the forefront of financial legal trends since it’s found in 1866. Jim Sligar is a partner in the Trust and Estates Department and is an expert on mission investing and program related investments.
Morgan, Lewis, and Bockius LLC
Founded in 1873, the firm has more than 1,400 lawyers in 22 countries providing a broad range of legal services. Celia Roady is a Washington D.C. based partner in Morgan Lewis's Tax Practice focused on tax and governance issues affecting tax-exempt organizations, including charities, foundations, colleges and universities, museums and other nonprofit organizations.
Patterson Belknap Webb & Tyler LLP
Founded in 1919, Patterson Belknap is a law firm of nearly 200 lawyers based in New York City with a practice group devoted exclusively to tax-exempt organizations. They represent tax-exempt organizations in all aspects of their operations and management, and the legal needs of exempt organization clients cover the spectrum of the firm’s practice areas. Private foundations of all types, including family foundations and corporate foundations, are among their list of clients.
Silk, Adler & Colvin
Specializing in the law of nonprofit organizations, Adler & Colvin serves the legal needs of grantmakers, nonprofit service providers, individual and corporate donors, nonprofit advocacy groups, and others. San Francisco based attorney David Levitt's practice focuses on the representation of nonprofit and tax-exempt organizations, with an emphasis on political advocacy, social or "double bottom line" investing, and nonprofit corporate governance.