"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and values," says John Palfrey, president of the John D.
MacArthur Foundation, in announcing his new role as chair of the US Impact Investing Alliance.
The Alliance, a not-for-profit dedicated to "building the impact investing ecosystem," aims to put " measurable social, economic, and environmental impact at the center of every investment decision," per a press release.
Palfrey will take over for Darren Walker, president of the Ford Foundation, who has led the Alliance since its founding in 2016.
"The impact investing movement is reshaping our economy and working to deliver a more just and equitable society," Walker says.
"The Ford Foundation and our peers have been able to participate in this essential work precisely because of organizations like the Alliance, and I am excited to continue working with my colleagues around the world to deepen this movement further."
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One of the most significant challenges to social entrepreneurship and innovation is ensuring a diversity of approaches and participants in the movement. To truly deliver meaningful social change the leaders of the effort must share perspectives of the challenges faced by communities across the U.S. that can most appropriately come from members of those communities. Ashoka, through its All America initiative seeks to increase the diversity of social entrepreneurship practitioners.