To learn more about the full measure of Toby’s life and his work, click here to read the poignant tribute from the North Star Fund.

There will be a memorial service to honor Toby’s life on February 18, 2012 at 11:00 am at Pier 60, Chelsea Piers, 23rd Street and the Hudson River in NYC.  Additionally, Toby’s wife, Tani Takagi, has shared the following information:

In lieu of flowers, the family requests donations in Toby’s name to: 

The D’Oench Family Fund at North Star Fund. Toby was a founder of North Star Fund in the late 70’s. The D’Oench Family Fund is an opportunity for his children to know more about the work he cared deeply for and to participate in North Star’s philanthropic mission. The Nelson Mandela Children’s Fund and South Africa Partners (in memory of Toby D’Oench). Toby had a long-held interest in the development of South Africa after  spending a year in Johannesburg in the mid-70’s building a library.

Thanks to the Member Funds profiled for providing information, and to the FEX editors (you know who you are!)

Download the PDF.

Current Spotlight Event: 

Crossroads Fund 30th Anniversary Celebration

Friday, March 2, 2012 5:30 p.m. – 9:30 p.m.
At the Chicago Cultural Center
GAR Hall
77 East Randolph Street
Chicago, Illinois

Most foundations earn money in a traditionally “conservative” manner. The assets are invested by money management firms that rarely believe in the charitable missions that the foundations’ grants support and are focused solely on generating the highest returns possible.

At the Funding Exchange we do not believe there should be a firewall between our investments and our grants.  We have always believed that how we invest our funds should be guided by the same forethought and ideals as the organizations we support.

Which is why FEX has joined other shareholders in pushing for Companies to disclose their lobbying activities. Today we mark the two-year anniversary of the controversial Citizens United resolution, which allows Corporations to funnel unlimited money to electoral candidates by way of anonymous Super Political Action Committees, or SuperPACS. We seek transparency in electoral funding, and have already witnessed the havoc this untethered financial activism can unleash in the 2012 GOP primary race.

We are so proud to be a part of this effort with Brainerd Foundation, Edward W. Hazen Foundation, Haymarket Foundation, Lemmon Foundation, Nathan Cummings Foundation, Needmor Fund, Russell Family Foundation, Tides Foundation and a host of other dynamic allies!

Read the full statement here.

The investors believe that shareholders have the right and need to understand how company resources are being spent in efforts to change both elections and public policy; hence, this lobbying disclosure initiative is a natural extension of an ongoing shareholder campaign encouraging greater political spending transparency and accountability.  Specifically, the investors believe that enhanced lobbying disclosure will enable them to better evaluate business risk associated with their companies’ efforts to influence regulatory and legislative processes.

This position is consistent with that of U.S. Supreme Court Justice Anthony Kennedy, who, as author of the 5-4 majority decision in Citizens United v. Federal Election Commission stated that, if given prompt disclosure of political expenditures, “Shareholders can determine whether their corporation’s political speech advances the corporation’s interest in making profits…”  While Justice Kennedy was speaking of corporate expenditures aimed to influence elections, his logic applies equally to the need for lobbying disclosure.

While Citizens United and the focus on political expenditures have attracted a great deal of media attention, corporate lobbying expenditures extend far beyond campaign contributions.  A November 2011 study by Si2, funded by the IRRC Institute, entitled “Corporate Governance of Political Expenditures” found that in 2010, S&P 500 companies spent a total of $1.1 billion on political contributions and lobbying, with $979.3 million in federal lobbying expenditures making up 87 percent of this spending[1].

Moreover, lobbying by trade associations to which corporations contribute is substantial, and the corporate contributions are largely unreported. In 2010 the U.S. Chamber of Commerce spent more than $132 million lobbying, making it the country’s largest lobbying group. Yet the Si2 study found that only 14 percent of S&P 500 companies disclose the portion of their trade association dues used to fund lobbying.

Thomas DiNapoli, Comptroller of the State of New York stated, “As a fiduciary, it’s important that companies in which the New York State Common Retirement Fund invest are open, transparent and demonstrate high standards of governance.”  Mr. DiNapoli’s office oversees the $133.8 billion state fund. “That’s why we’ve joined this year in filing resolutions urging companies to report to their investors about their lobbying priorities, oversight and corporate dollars spent.”

In fact, most companies do not provide even rudimentary disclosure on their lobbying expenditures and practices to investors.  Out of the S&P 500, the IRRC study found 64 percent of companies make no mention of lobbying activities, policies or oversight.  Furthermore, the study found that only 13 companies in the S&P 500 provide investors information on how much they spend on lobbying.

Read the Full Press Release Here

The Academy Award nominations are a week away, but the 2012 Fund for Santa Barbara Social Justice Award for Documentary Film nominations are HERE NOW! For the thirteenth consecutive year, the Fund for Santa Barbara is partnering with the Santa Barbara International Film Festival to recognize documentary films dealing with critical social, economic, political and environmental issues. The 2012 SBIFF runs January 26^th through February 5^th. Nine films have been nominated for 2012. For the first time a short film program has also been created – three short docs will be screened (not in competition for the award).

Brochures are being mailed this week, so take a look in there or check out … http://www.fundforsantabarbara.org/social_justice.php

The Fund will be hosting a reception with the nominated filmmakers:

DATE: Friday, January 27th

TIME: 5:00 p.m. to 7:00 p.m.

PLACE: Sullivan Goss – An American Gallery / Arts & Letters Café

7 East Anapamu Street in Santa Barbara

Tickets are available for a suggested donation of $25. Platinum Pass-holders are admitted free.

Space is limited / Reservations Requested
RSVP to 962-9164

Friday, March 2, 2012 5:30 p.m. – 9:30 p.m.
At the Chicago Cultural Center
GAR Hall
77 East Randolph Street
Chicago, Illinois

For more information about the schedule of events, 30th anniversary award recipients and to buy tickets online, check out the Crossroads Fund website!

On January 3rd, America lost one of the greatest champions of equal opportunity and human rights that our nation has ever known. Judge Robert L. Carter, civil rights lawyer, jurist, and fierce defender of justice, passed away at age 94 after suffering a stroke.

Judge Carter was a primary architect behind the U.S. Supreme Court’s Brown v. Board of Education desegregation decision, crafting an innovative approach that blended constitutional scholarship, social science research, historical knowledge, and strategic litigation. After the victory, he pursued a strategy that helped bring desegregation to the North, where it had long been treated as an open secret. As a federal judge, he held litigants to the highest standards, while rigorously guarding equal justice under law. Over four decades on the bench, he brought greater inclusion to the New York Police Department and to construction trades that had long excluded people of color and women. And he continued to speak out against injustice wherever he encountered it. That he chose me as one of his law clerks was a singular honor; I remain humbled by having been able to serve in that capacity.

Indeed, those of us who have worked to fight prejudice and segregation owe a great debt to Judge Carter and must continue to work to honor his legacy.  As Alan Jenkins wrote, ” And we thank Judge Carter for his lifetime of service, for the transformative change he brought to our nation, and for the sterling example of leadership that he has given us all.”

More info to come!

The Amway Hotel. Van Andel Arena. The Grand Rapids Public Museum. What do all these things have in common? Yes, they’re all credited with helping turn downtown Grand Rapids around. But they also owe their existence, at least in part, to something else: philanthropy.

“Everybody recognizes that Grand Rapids’ downtown has been revitalized in these dramatic ways,” says Michael Moody, who studies family philanthropy at the Johnson Center for Philanthropy at Grand Valley State University.

Moody says one of the things that makes Grand Rapids downtown unique is how philanthropy has been used there.

“We do see institutions that were developed like hotels and convention centers that were developed through major roles of philanthropists, but that otherwise look like regular downtown economic development activities,” he says.

But this kind of philanthropy is not necessarily unique to Grand Rapids.

Ronn Richard runs the Cleveland Foundation. It’s one of the largest community foundation in the country. Richard says when he was hired eight years ago, he knew that the foundation had to expand its scope – not just supporting existing organizations, but creating new ones from scratch.

And so the Cleveland Foundation started acting like a venture capital firm. It has a project called the Evergreen Cooperative. Richard says the project includes a pot of money, about $22 million so far, to be used as startup capital to get businesses going.

“And then when they hit profitability, they will do two things,” Richard says. “Ten percent of their profits will go back into the pot to start ever-more companies, and the rest of the profits get distributed among their employees because these are for-profit, employee-owned companies.”

The companies are located in some of the most economically distressed neighborhoods of Cleveland. There is a clear social goal to Evergreen Cooperative.

But Richard says the businesses do have to be viable.

“You know, we are kind of hard-nose business folks when it comes to that,” he says. “We couldn’t afford to just keep pumping money into these companies if they’re not profitable. So these are serious, for profit
businesses.”

Two businesses have launched so far. A third is launching soon. Richard says by next summer, the project will be directly responsible for creating 80 jobs.

This program is a unique way to tackle economic problems. And the Cleveland Foundation has many more projects with the same goal. So do other Midwest cities. You could go to Chicago, Milwaukee, Detroit or Flint and see the effects of philanthropy.

The Chronicle of Philanthropy keeps track of this kind of giving. If you look at just the institutions that give grants for community and economic development, the Midwest has four of the top five foundations in the country.

It is one of the great assets of our region – these foundations and philanthropic organizations that were set up years ago. They can continue to fuel our economies for years to come.