Mission-Aligned Investing

Beginning in 2021, the Investment Committee of the Community Foundation Board of Directors began to align our investments with our mission. As we work toward the goal of 100% mission alignment, we want our investments to be structured in a way that reflects best practices in the field—sustainable, responsible investing, with special attention given to investments that have particular relevance to racial equity and justice.

We haven’t changed our risk-adjusted return targets, but to achieve those targets, we are now making investments in stock and bond funds that practice sustainable investing.

Also called responsible investing or impact investing, sustainable investing is about delivering competitive results while also driving positive environmental, social, and corporate governance (or ESG) outcomes. This includes better racial equity outcomes.

Sustainable funds address racial equity in several ways: Some may not invest in companies that have a negative impact on Black communities, such as for-profit colleges or companies that support the prison-industrial complex. This intentional investment strategy will encourage publicly traded companies to end practices that harm communities of color and adopt practices that promote racial justice through shareholder pressure — for example, by disclosing employment statistics on the racial makeup of their workforce or conducting racial equity audits across their organization. The strategy will also allow the Foundation to avoid exposure to public companies whose business practices or products do not align with our mission.

By aligning our investments with our mission, the Foundation can use its assets to make a greater impact during the investment phase — then employ them again in support of our philanthropic mission. Think of it as investing that’s not just focused on profits but also on people and the planet.

Investment Policy

Meet Bivium Westfuller

In 2024, the Foundation engaged Bivium Westfuller to serve as its new Outsourced Chief Investment Officer (OCIO). An OCIO is a specialized investment firm that handles the investment needs of organizations that require significant expertise and resources to manage assets, but prefer not to hire an in-house CIO and investment staff. As OCIO, Bivium Westfuller works with our investment committee and senior leadership to determine appropriate investment goals, asset classes and risk parameters, in accordance with our mission and strategy. 

Bivium Westfuller is a strategic partnership between two experienced Black-owned and -led financial services firms with a longstanding presence in the industry. They share our values and our commitment to grow charitable dollars by investing through a 100% racial justice and equity lens.

San Francisco-based Bivium Capital manages values-aligned multi-manager solutions of diverse and emerging managers for some of the largest and most sophisticated institutional investors in the country. New York-based Westfuller, one of the largest Black-majority, woman- and LGBTQ-owned wealth management and investment advisory firms in the country, provides personalized investment solutions for institutions and families seeking meaningful social impact and financial returns. Collectively, the firms have more than $5.4 billion in assets under management and advisement.

It makes economic and business sense to outsource the CIO role and rely on the specialty investment expertise and knowledge of Bivium Westfuller. The outsourced CIO provider takes charge of associated daily administrative tasks, reducing the strain on the Foundation’s resources. This, in turn, frees up more time for the Foundation to spend on core activities and programs—while simultaneously ensuring its fiduciary duties are carried out with 100% mission alignment.