An under-the-hood look at Inspirit Foundation’s portfolio makeover: fired two investment managers, prioritized DEI

Inspirit Foundation pushed their financial advisors to improve their own DEI practices as one part of their ‘holistic’ strategy to get to ‘100% impact’

Why It Matters

For most foundations, arguably their biggest lever for impact is their invested capital. Yet, few have moved beyond tinkering at the edges with ESG screens.

This story is part of the Future of Good editorial fellowship covering the social impact world’s rapidly changing funding models, supported by Community Foundations of Canada and United Way Centraide Canada.

In a soaring boardroom overlooking the confluence of the Red and Assiniboine Rivers, Mitchell Anderson debated with his colleagues at the Inspirit Foundation.  

“I’ve never seen it that heated at Inspirit,” recalls Jory Cohen, the foundation’s director of social finance and investment. 

It was May 2016, and Anderson was a member of the board of directors of the public foundation, then, worth $36 million and focused squarely on promoting inclusion and pluralism through the arts. 

The board meeting was focused on coming to a consensus on a tricky q

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