Calvert Giving Fund Sets High Bar for Donor Advised Funds: 100 Percent Socially Responsible Strategy Outperforms S&P 500 in Down Market
Tim Freundlich, senior vice president at Calvert Foundation, said: “Donor advised funds are growing in popularity at an astounding rate, as they provide donors with the philanthropic tools available to those with private family foundations, but without the high costs that accompany such an endeavor. As more philanthropists discover DAFs, Calvert Foundation’s Giving Fund has experienced a surge in interest. And our Giving Fund donors have given us nothing but positive feedback over the past year.”
The fact that the Giving Fund’s assets outperform the general market provides hope to nonprofits at a time when so many of them are struggling to stay afloat and to provide services to those who need it most.
Calvert Foundation President and CEO Shari Berenbach said: “The Giving Fund uses donated assets awaiting grant making to invest in organizations that provide grassroots solutions to social and environmental problems such as environmental degradation, lack of affordable housing, and poverty in the developing world. This means donated assets get to work for important causes right away, guaranteeing a sustainable difference from day one. These continued gains over the past year – the consistency we are seeing – is reassuring for our donor advised fund clients who need to make charitable grants from their investment portfolio every year.”
Interviews with Calvert Giving Fund investors will be made available to the news media. To arrange to speak with a Calvert Foundation CGF investor, contact Carrie McGarry at (301) 280-1383 or firstname.lastname@example.org or Patrick Mitchell at (703) 276-3266 or email@example.com.
ABOUT CALVERT FOUNDATION
Calvert Foundation has raised more than $170 million from 9,000 caring investors to lift people out of poverty while delivering a financial return on investment. We do this through our Community Investment Note, which starts at $1,000 and is available in various terms and rates up to 3%. At maturity, you get your money back with interest. While invested, your dollars are hard at work revitalizing poor communities, reversing inequality and creating hope and opportunity where it’s needed most. We rely on grants and contributions to offset operating expenses and to extend the reach of our investors’ dollars.