Investing For Impact

The Foundation’s Investment Policy Statement (IPS) governs the investment of our assets, including the selection of diverse investment managers.

Innovative Grantmaking
Investing for Impact
Internalizing Racial Equity
Influencing Philanthropy

Our Investment
Policy Statement:

Our IPS sets social impact and financial return as joint priorities and incorporates our commitments to centering Black, Indigenous, and Communities of Color, and to having an impact in Virginia.

  • Acknowledges the Foundation's intent to exist in perpetuity given our family mission statement. 
  • Intentionally allocates capital by pursuing 100% mission alignment of the endowment and using a Racial Equity Investing and Responsible Investment lens to drive racial equity impact. 
  • Prioritizes Black, Indigenous, and Communities of Color as well as Virginia and its surrounding regions.
  • Carves out up to 10% of the Endowment for Impact First catalytic and program-related investments as defined in the asset allocation guidelines.  
  • Commits the Foundation to continuing to understand capital markets and use that knowledge to influence corporate behavior and promote social responsibility.
  • Adopts a robust Spending Policy: 
  • Utilizes a rolling 5-year average. 
  • Treats the IRS Required Minimum Distribution as a floor and not a ceiling with the intention to spend a minimum of 4-5% of assets each year on grantmaking in addition to 1-2% on annual distributions for programmatic and operating expenses.
  • Provides a mechanism for scaling up funding as local, Commonwealth-wide, or national issues warrant. 
Investment Policy Statement
Catalytic Investment Policy
The Foundation has been on an impact investing journey, learning, experimenting, and refining along the way, for the last decade.
This timeline represents the Foundation’s journey- illustrating the time, patience, and commitment to ongoing learning impact and mission-aligned investing requires.

2014

Sorensen Global Impact Investing & Godeke Consulting are hired to help source international, national, and local impact investments.

The Foundation makes its first impact investment in Root Capital. 

2015

Mission Investing is named in an Executive Committee meeting of the Foundation and a road map for the future is developed.

The Foundation makes its 2nd impact investment in Oxfam.

2018

The Board engages in an investment learning journey and affirms alignment with mission-focused Investment Policy Statements.

Syntrinsic Investment Counsel is hired to help craft an Investment Policy Statement reflective of the Foundation’s evolving investment philosophy.

2019

The Board approves the first Investment Policy Statement codifying its intention to generate positive impact alongside financial returns.

2020

The Foundation makes its 3rd impact investment in Illumen Capital.

2021

The Board commits to 100% mission-alignment of assets.

The Foundation transitions its cash assets to Environmental, Social, and Governance (ESG) aligned funds.

2022

The Investment Committee, in partnership with Godeke Consulting, launches the search for an Investment Adviser.
After a 9-month process, the Board approves the Investment Committee’s recommendation to select Bivium Westfuller, a leader in impact investing, as the Foundation’s inaugural Outsourced Chief Investment Office (OCIO).

2023

Led by Bivium Westfuller, the Investment Policy Statement Working Group drafts an Investment Policy Statement that is aligned with the Foundation’s mission, vision, and values and uses a Racial Equity Investing and Responsible Investment lens to drive impact around racial equity.
The Board unanimously approves the draft Investment Policy Statement.

The Journey Continues...

As the Investment Committee works in partnership with Bivium Westfuller to implement the IPS, we are committed to continuing to learn, experiment, refine, and share our journey.

The Foundation has been on an impact investing journey, learning, experimenting, and refining along the way, for the last decade.

This timeline represents the Foundation’s journey- illustrating the time, patience, and commitment to ongoing learning impact and mission-aligned investing requires.

2014

Sorensen Global Impact Investing & Godeke Consulting are hired to help source international, national, and local impact investments.

The Foundation makes its first impact investment in Root Capital. 

2015

Mission Investing is named in an Executive Committee meeting of the Foundation and a road map for the future is developed.

The Foundation makes its 2nd impact investment in Oxfam.

2018

The Board engages in an investment learning journey and affirms alignment with mission-focused Investment Policy Statements.

Syntrinsic Investment Counsel is hired to help craft an Investment Policy Statement reflective of the Foundation’s evolving investment philosophy.

2019

The Board approves the first Investment Policy Statement codifying its intention to generate positive impact alongside financial returns.

2020

The Foundation makes its 3rd impact investment in Illumen Capital.

2021

The Board commits to 100% mission-alignment of assets.

The Foundation transitions its cash assets to Environmental, Social, and Governance (ESG) aligned funds.

2022

The Investment Committee, in partnership with Godeke Consulting, launches the search for an Investment Adviser.
After a 9-month process, the Board approves the Investment Committee’s recommendation to select Bivium Westfuller, a leader in impact investing, as the Foundation’s inaugural Outsourced Chief Investment Office (OCIO).

2023

Led by Bivium Westfuller, the Investment Policy Statement Working Group drafts an Investment Policy Statement that is aligned with the Foundation’s mission, vision, and values and uses a Racial Equity Investing and Responsible Investment lens to drive impact around racial equity.
The Board unanimously approves the draft Investment Policy Statement.

The Journey Continues...

As the Investment Committee works in partnership with Bivium Westfuller to implement the IPS, we are committed to continuing to learn, experiment, refine, and share our journey.

The Foundation’s Investment Committee affirms that the IPS is a living document and should and will be informed by the IC, Staff, and Board’s evaluation of how well it is meeting stated objectives. The Investment Committee recognizes the fundamental flaws of the current market system which ultimately contribute to the disempowerment of the very populations we center in the work of the Foundation. The Investment Committee also acknowledges the Board’s commitment to interrogate the structures, policies, and advantages that enabled the origin and accumulation of the Foundation’s wealth, and the future need to discuss the desired size of the Foundation’s endowment. In keeping with the Foundation’s listening and learning value, the IPS commits the Foundation to continuing our active learning and conversation about these systems.

We are grateful to the Investment Committee for their dedication and commitment.

Weissberg Foundation Trustee Members:

Edward Jones
Rachel Martin
Ricshawn Adkins Roane
Nina Weissberg

Independent Members:

Garrett Martin
Catherine Gill

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Tamara Copeland
Tamara Copeland

(she/her)
Independent Trustee

In 2019, Tamara retired as president of the Washington Regional Association of Grantmakers where she envisioned and implemented “Putting Racism on the Table”. Currently, she co-facilitates The Onion Dialogues, a racial justice training. In 2018, her memoir, Daughters of the Dream: Eight Girls from Richmond who grew up in the Civil Rights Era was published. Her latest book is REVEALED: A Once a Week Reading on Racism, Prejudice and Bias. She loves walking and traveling, having visited all fifty states and countries in Africa, Asia, Europe, North America, and South America.