The Nathan Cummings Foundation is taking a business-not-usual step — for philanthropy — by pledging to align its entire $443 million endowment with its mission, including fighting climate change and income inequality.

Cummings is one of the largest foundations yet to commit itself — over time — to 100% mission-alignment and to break down philanthropy’s historical divide between the investment side of the house, which was traditionally charged with making money, and the program side, which was responsible for giving it away.

The problems we work on are market problems that need market solutions. We need capital markets to change to drive sustainable inclusive growth. We need the markets to produce an economy that leads to equality.

It will take at least the rest of this year to develop an investment policy statement, establish benchmarks for progress and set a timeline.

Read the full article on aligning endowment with mission by David Bank at ImpactAlpha