In this installment of CMF Community Voices – a special edition as part of our year-long 50th anniversary celebration – CMF members Camarrah Morgan, Program and Network partner, and Meredith Freeman, director of Impact Investing and Alignment at the Max M. & Marjorie S. Fisher Foundation, share more on the foundation’s impact investing vision and how "the return on investment can be redeployed to continue doing good in the world.”
CMF Community Voices features a series of conversations and insights from leaders across our community of philanthropy. This curated collection of blogs and Q&As lifts up inspiring voices from changemakers providing reflections in the areas of Equity, People, Practice and Policy, with equity at the center.
By Camarrah Morgan, Program and Network partner, and Meredith Freeman, director, Impact Investing and Alignment at Max M. & Marjorie S. Fisher Foundation. Morgan and Freeman also serve as co-chairs of CMF’s Michigan Forum for African Americans in Philanthropy Affinity Group with Alana White, program officer, W. K. Kellogg Foundation.
What we invest in today will determine the world we live in tomorrow, according to the Global Impact Investing Network (GIIN). Impact investing is one way to activate private investment capital to complement public resources and philanthropy, while addressing pressing global challenges in hopes of a more equitable and sustainable tomorrow.
The Max M. & Marjorie S. Fisher Foundation’s (M&MFF) decade-long journey to ensure all foundation assets are contributing to positive solutions is summarized in the foundation’s impact investing vision to ensure organizations focused on social and environmental impact have access to growth capital to expand innovation and grow organizational capacity and sustainability.
In this way, M&MFF works to align foundation assets to further our mission and increase impact by leading, collaborating, learning and creating positive social change. This vision and approach provide many opportunities to use capital creatively, and to support partners and communities we care about.
GIIN estimates that 1,340 institutions globally contribute about $500 billion to impact investing in the form of program related investments (PRIs), mission related investments (MRIs), ESG (Environmental, Social and Governance), values-aligned investing, equity investments and guarantees. Foundations are becoming increasingly aware of how their endowments are invested, both the 5% they are required to grant every year as well as the 95% invested on Wall Street. They are investing to minimize harm and align all their philanthropic activity—-social and financial—with their mission and values.
Contrary to what some believe, impact investing is not risky business—at least not any riskier than other investments. Impact investing offers a new order of prioritizing positive social outcomes in tandem with financial returns.
Our approach at M&MFF is to activate capital into small business ecosystems in ways that might not otherwise be invested, while elevating business operations to new heights. Investing in small businesses that have limited access to capital provides more than simply capital; it is also a signal to other investors that the partner is ready for investment and filling a gap in the market, and the investment is a benefit to the community. Impact investing also has a return on and of investment that can be redeployed to continue doing good in the world.
The most valuable and unique bonus of impact investing is the qualitative stories that are not adequately captured through quantitative measures. M&MFF’s small business and social enterprise partners are passionate, capable and extremely talented yet they face many closed doors as they prepare for the next phase of business growth.
Our partners gain valuable operational insights during the due diligence process and then use this knowledge to attract additional funding. There is overwhelming joy and a true sense of accomplishment when they launch innovative new products and services or when local entrepreneurs are growing and thriving at rates that exceed expectations.
At M&MFF, we are focused on being a trusted partner in ways that propel economic growth in communities that have been overlooked and underestimated. The outcomes we have witnessed from impact investing keep us hopeful for a more equitable and sustainable future.
Want more?
Learn more about the Max M. & Marjorie S. Fisher Foundation’s impact investments.
We invite you to connect with Jennifer Oertel, CMF's Impact Investing Expert in Residence (EIR). Jennifer Oertel provides impact investing assistance and resources to members, as well as anyone located in Michigan and those seeking to make impact investments in our state.
Read Jennifer Oertel's latest blog, Anatomy of an Impact Investment in Seven Core Steps. Oertel breaks down the seven key steps involved in direct investments.
We are thrilled to share these installments of CMF Community Voices as we continue our year-long future-focused 50th anniversary celebration.
Interested in contributing to CMF Community Voices? Connect with our team!
