The Intentional Endowments Network (IEN) announces the rating of the first philanthropic foundation to complete the Endowment Impact Benchmark (EIB) – earning the highest rating possible through the assessment and benchmarking framework.
BOSTON, MASSACHUSETTS (September 12, 2024) – The Intentional Endowments Network (IEN) is proud to announce the rating of the first philanthropic foundation to complete the Endowment Impact Benchmark (EIB) during its second pilot.
The Russell Family Foundation, based in Gig Harbor, Washington, achieved a Platinum rating upon completing its EIB assessment in August 2024. The high mark underscores its commitment to sustainable and impact investing.
The Russell Family Foundation has been dedicated to advancing environmental sustainability and addressing the climate crisis. Guided by the belief that resources should be stewarded toward collective, community-driven impact, the Foundation has continually sought to strengthen communities and promote economic vitality through mission-based investing. In a journey that began in 2005, the Foundation has increased its impact-aligned investments from 7% to 94%.
"We are honored to receive the Platinum rating from the Endowment Impact Benchmark," said Kathleen Simpson, Chief Executive Officer of The Russell Family Foundation. "This recognition reflects our commitment to investing in people and places that drive positive environmental and social change. We hope our journey is a reproducible model for other foundations and endowments to invest in their communities and the environment sustainably."
“The analysts at Blue Mark and IEN provided us extremely relevant and specific recommendations to enhance our strategy, particularly drawing upon best practices for impact measurement and monitoring, active ownership, and overall portfolio transparency,” said Brad Harrison, Managing Director and Co-Lead of Impact Investing, AlTi Tiedemann Global, an advisor to The Russell Family Foundation. “As more and more portfolios are included in the benchmark, we’re encouraged by even greater access to verified standards and transparent reporting from these highly credible organizations involved.”
The Endowment Impact Benchmark is a project of the Intentional Endowments Network. It is an assessment, rating, and benchmarking framework that enables endowments to earn recognition for their commitment to sustainable and impact investing. The evaluation process is led by BlueMark, an independent impact verification firm, ensuring that ratings are credible and reflective of best practices.
"I have been so impressed by the leadership of The Russell Family Foundation; they are helping to set new standards in impact investing," said Georges Dyer, Co-founder and Executive Director of the Intentional Endowments Network. "This achievement in earning a Platinum rating demonstrates the power of aligning endowment investments with mission-driven goals, and we are excited to see how other institutions will build on their leadership."
Foundations and endowments interested in joining the second cohort of the Endowment Impact Benchmark, currently underway, should reach out to the IEN team by September 30, 2024, to confirm their participation. Benefits of participation include assessing institutional progress relative to best practices in sustainable investing and receiving tailored feedback from BlueMark around four pillars of strategy, management, governance, and transparency. Participants will also benchmark their progress against peers and gain recognition for their commitment to impact.
As the global sustainable and impact investment market expands, endowments and foundations will face greater pressure to improve their transparency practices. The EIB offers a crucial and practical approach to achieving this, designed specifically for the unique management of endowments. As more institutions join, the benchmarking's value will rise, enabling endowments to align their policies and practices with peers and industry standards.
For more information on the Endowment Impact Benchmark and how your institution can participate, please visit www.endowmentimpactbenchmark.org
About The Intentional Endowments Network
The Intentional Endowments Network (IEN) supports higher education institutions to adopt investment strategies that create an equitable, low-carbon, and regenerative economy. IEN connects endowments, asset managers, investment consultants, nonprofit partners, and individuals to advance the field of mission-aligned, sustainable investing. IEN is housed at the Crane Institute of Sustainability (“Crane”), a 501(c)(3) nonprofit organization. Learn more at www.intentionalendowments.org
MEDIA CONTACT:
Georges Dyer, Co-founder & Executive Director, Intentional Endowments Network & The Crane Institute of Sustainability