2006 Year-In-Review: RSF and Social Finance

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2006 Year-In-Review: RSF and Social Finance MARCH 31, 2007 RSF Quarterly INNOVATIONS IN SOCIAL FINANCE RSF REACHES $100M IN 2006! 2006 Year-In-Review: At the end of 2006, RSF’s consolidated assets totaled more than $100 million. This is a momentous event for our RSF and Social Finance organization considering we only had $6,000 in 1984. n 1984, Rudolf Steiner Foundation philanthropy, and few were blessed with We wish to thank all our supporters made its first loan to the Pine Hill the resources necessary to participate for joining our efforts in advancing our IWaldorf School to rebuild a main in giving. The opportunity to direct re- vision of living in a world where financial building devastated by fire. Over the sources used to develop and manufacture transactions are based on relationships, years, RSF has been central to the as well as purchase products and services respect, and social and environmental development of the U.S. Waldorf move- toward social benefit has empowered responsibility. ment and other organizations related to individuals worldwide with a powerful the work of Rudolf Steiner. As the 21st tool to make a significant and collective century approached, there was a clear difference. UPCOMING EVENTS calling for RSF to broaden the scope of The Center for the Development of organizations it could serve as there are 04.21.07–04.22.07 Social Finance, incubated at RSF and so many compatible with RSF’s mission. Green Festival founded by former RSF CFO Rupert Ay- Always attuned to the needs of the times Chicago, IL ton, defines social finance as an approach through deep listening, it became evident to managing money that delivers a social 04.26.07–04.29.07 that the many crucial issues confronting dividend and an economic return. This SVN’s Annual Member Gathering our people and planet were related to includes community investing, micro- Kennebunkport, ME consumerism. It was then that RSF began lending, sustainable business and social 04.28.07 to expand its support of social enterprises enterprise lending, philanthropic grant- Sustainable Energy Summit 2007: to advance a shift in producer-consumer making and program-related investments. Community Action for a Clean behavior toward social benefit, and it was Energy Future during this transition that RSF’s identity Much of what has become part of the Northampton, MA as a social finance organization was emerging field of social finance was forged. indicated in Rudolf Steiner’s lectures on 05.22.07–05.24.07 economics in the early 20th century. The Investors’ Circle Spring Conference: Problems attending sustainability can kinds of transactions (purchase, loan, Patient Capital for a Sustainable be attributed in good part to approaches and gift) and their integral importance Future to production and consumerism, and a in a healthy economy was only a part of San Francisco, CA general lack of consciousness about the his approach to associative economics. impact of consumption. Social enter- 05.31.07–06.02.07 He saw that an associative model would prises in many industries are emerging: BALLE’s 5th Annual International foster the development of community Conference food, financial services, non-profits, ener- through an altruistic rather than egocen- Berkeley, CA gy, and health care among others. These tric view of economics. enterprises are offering human beings a 06.20.07–06.22.07 new path—a way to leverage purchasing RSF is involved in all aspects of social fi- The Organic Summit: Renewing the and financial resources for social benefit. nance and listens deeply to its clients and Organic Conversation Boulder, CO Until somewhat recently, conventional others active in the field in a continuing wisdom limited social “investing” to effort to meet the needs of our time. Inspired by the work of Rudolf Steiner President’s Letter philanthropic assets entrusted to RSF is maximized whether invested in our in-house socially responsible investment portfolios (Charitable Asset Manage- ment Program), or granted to worthwhile charitable organizations. Looking forward to 2007 and beyond, we are committed to continued growth in assets in an effort to meet the burgeoning demand for social enterprise loans and charitable grants. You have read about many of the amazing companies and projects we supported in 2006 in recent newsletters and e-news, and will learn of several more in the pages that follow. I want to thank each and every one of you for making our work possible and Power of Giving Dear Clients and Friends, for living your values. If we direct all our resources together toward the change we As I reflect on 2006, I am reminded of want to see in the world, our collective RSF Staff Donates $23,000! how I feel at the beginning of each new efforts will bring promise and hope to year: appreciative of leading an organiza- future generations. tion that, through the efforts of a tireless, During the giving season last December, dedicated staff, sets forth to make the Enjoy our Year-in-Review. we at RSF, twenty-three in all, were world a bit better day after day. I am also given the opportunity to each recom- full of anticipation knowing there is so mend $1,000 to charitable organizations much more to do to imbue this genera- With Warm Regards, of our choice. We were delighted and tion and the next with a sense of hope surprised when we heard the news as this and passion for the possibility of a peace- was different from previous years. Made ful, joyful, and consciousness-filled world. possible by a long-time generous donor I am pleased to report that RSF reached Mark A. Finser and friend, what we received was an a new plateau of social impact and per- President and CEO exceptional gift. formance last year. Investment received Kerri Kleven, manager of Philanthropic into our socially beneficial loan program Services, says, “It’s not everyday that as a approached $16 million, nearly four staff member one has the opportunity to times our average over the last several recommend where money is given away. years. Loans made to a variety of initia- This gift money provided a chance for all tives and social enterprises totaled over of us to experience the power of giving, $18 million, close to three times our and gave each one of us the opportunity average over the recent past. Growth in to support initiatives most important to new philanthropic assets was consider- us. Overall, I think the intention behind able as well. RSF staff has worked hard this gift was extraordinarily meaningful.” to ensure that the social impact of all 2 New Board Members 2006 Sara Ellis Conant is a senior consultant Commerce’s Entrepreneur of the Year with Deloitte Consulting and specializes in 1998. He is president of the Waldorf in assisting clients to identify their core Alliance and has served on the board values and make them operational. She and chaired the Finance Committee of also has worked extensively with social- the Shining Mountain Waldorf School purpose entrepreneurs. Previously, she for fourteen years (his three children served as development director for RSF. are Waldorf graduates). He and his wife, She is also founder and board member of Terry, are avid organic gardeners on their Young Women Social Entrepreneurs, a ten-acre farm in Boulder County. non-profi t organization that promotes the Green Oaks Fund success and development of hundreds of Jessica Crolick Rolph is a founding part- supports youth women in San Francisco, Portland, New ner and COO of HAPPYBABY, a start- education programs at Pie Ranch. York, and Houston. She received a BA up company that produces and markets in Sociology and an MBA from Stanford fresh-frozen all-organic baby and toddler University. meals. Previously Ms. Rolph worked at Whole Foods in national purchasing and Mark Retzloff is the co-founder, SPINS, the leading provider of informa- president, chief organic offi cer, and tion to the natural products industry. Power of Giving board member for Aurora Organic Dairy, She also worked with Lance Armstrong’s an organic company which initiated business agent to develop the concept for RSF Staff Donates $23,000! production in 2004. In 1969, while a the Lance Armstrong branded food line. student at the University of Michigan, Based on Newman’s Own business model, he co-founded Eden Foods. Mr. Retzloff all proceeds were to benefi t the Lance Kelley Buhles, also with Philanthropic is also a co-founder of Horizon Organic Armstrong Foundation. She received her Services, describes the gift as “a wonder- Dairy, the United States’ leading organic MBA from the Johnson School at Cor- ful experience.” At a lunch meeting, con- dairy. He has received numerous business nell University in 2004, and was awarded vened by Kelley, we talked about how we awards, including the Organic Trade a full MBA scholarship, the Park Leader- could maximize our giving. Earnest and Association’s Organic Leadership Award ship Fellowship, for leadership in socially lively discussion followed, resulting in for Outstanding Individual Achievement responsible business. a decision to form a giving circle where in 2002 and the Boulder Chamber of each of us pooled 20% of our allocation to two organizations collaboratively chosen by the group. The rest we would New Director of Lending Program choose to recommend on our own. Our giving circle chose the Green Oaks Fund Esther Park joined RSF in 2005. She became the director of and an initiative of the Ella Baker Center Lending Program in 2007 to oversee the growth of the organiza- for Human Rights, Reclaim the Future.* tion’s lending activities. The fund, which reached $35.6 million We thank our donor for this unforget- at the end of 2006, provides debt fi nancing to non-profi t organi- table experience! zations and for-profi t social enterprises in the area of education, community renewal, fair trade, sustainable food systems, inde- pendent media, and renewable energy.
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