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As it celebrates its centennial, the Surdna Foundation is still inverting philanthropic norms. The New York City-based grant maker has taken the bold step of directing $100 million — 10 percent of its endowment — into impact investing In this edition of the Business of Giving, Phil Henderson, Surdna’s president, details the organization’s sometimes-bumpy road to reaching that decision and dealing with its implications.
Phil Henderson talks about the foundation’s evolution over a century of grant making and its decision to channel $100 million, a tenth of its endowment, into impact investments.