LOS ANGELES – The California Endowment announced today that it will no longer make direct investments of its endowment funds in companies that derive significant annual revenue from the operation of private prisons, jails, detention centers and correctional facilities.
“The California Endowment strongly supports community safety and stands with communities that experience serious disparities in incarceration rates for non-violent offenses that could be handled through drug treatment and other programs that help prevent non-violent crime,” said Robert K. Ross, MD, president and CEO of The California Endowment. “It is essential our investment strategies take into account the potential impacts they could have on the communities we serve.”
About The California Endowment
The California Endowment, a private, statewide health foundation, was established in 1996 to expand access to affordable, quality health care for underserved individuals and communities, and to promote fundamental improvements in the health status of all Californians. Headquartered in downtown Los Angeles, The Endowment has regional offices in Sacramento, Oakland, Fresno and San Diego, with program staff working throughout the state. The Endowment challenges the conventional wisdom that medical settings and individual choices are solely responsible for people’s health. The Endowment believes that health happens in neighborhoods, schools, and with prevention. For more information, visit The Endowment’s Web site at www.calendow.org.