When does protecting an endowment get in the way of the mission? In this episode, co-hosts Glen Galaich and Dr. Carmen Rojas, President and CEO of the Marguerite Casey Foundation, unpack the foundation’s bold decision to double its grantmaking over the next decade. They get into what fiduciary duty should really mean and why a mission has to show up in the dollars a foundation invests, not only the dollars it gives away.
They’re joined by Daniel Gould, Vice President of Investments and Operations at Marguerite Casey Foundation, who helped move the foundation from roughly 12% to 100% mission-aligned assets. Daniel reveals what went into the foundation’s decision to give $500 million over the next decade, a timely move to increase its grantmaking in alignment with its mission. Together, they challenge funders to question inherited norms around endowments, investment committees, and what responsible stewardship is supposed to look like.
💡Daniel Gould: “Don’t accept norms in this sector as facts or laws. You have to interrogate a lot of the underlying norms in our sector.”
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