It was also created in response to a worldwide reckoning on racial equity and the disproportionately negative impact the COVID-19 pandemic had on communities of color.
It is Dr. Robert K. Ross, President and CEO of The California Endowment’s intention of a Beloved Community that makes the Social Bond a step forward beyond conventional grantmaking to meet the moment and commit to investing in innovative, long-term solutions throughout California.
The Endowment learned over the past decade of listening and responding to partners is that “it begins and ends with people power.” The Social Bond grantmaking process was guided by the practice of trust-based philanthropy and the recognition that people closest to the problem have the best understanding of the solutions.
The Social Bond will advance racial justice and health equity in California over the next ten years, focusing on three key goals:
The California Endowment is proud to support “Good Troublemakers” in California who are building power to make healthy change for all. In this video you will hear from community organizers and power builders who are being supported to build a network of power throughout the state with resources from our historic $300 million Social Bond.
The Endowment’s leadership and program teams will be responsible for selecting the grantees.
Subject matter experts review grantee and Program-Related Investment (PRI) partner proposal applications
Grantee proposal applications evaluate prospective grantees based on a number of criteria including, but not limited to, (i) the issues their organization/project addresses, (ii) geographic focus and/or communities and populations their organization/project intends to support, (iii) long-term goals, (iv) existing revenue sources, (v) potential impact, (vi) prior experience and (vii) diversity goals and efforts.
Proposals for grantees will be thoroughly reviewed to ensure The Endowment complies with all legal requirements (including, but not limited to, Internal Revenue Code requirements and U.S. anti-terrorism laws) for charitable giving. The Endowment has designed its grant making process – from preparation of the grant recommendation to processing final reports – to conform to applicable legal standards and The Endowment’s procedures and standards. Grantees will be monitored by The Endowment on an ongoing basis through visits, meetings, and written reports.
The Endowment tracks the net proceeds of the Social Bond.
Until distributed, the net proceeds of the Bonds will be held in a segregated account at The Endowment’s custodian bank. Bond proceeds will be transferred, as needed, to an operating account for disbursement. A register will be established and managed by the CFO and his Finance department staff to record on an ongoing basis the allocation of the net proceeds of the Bonds to grantees
Reporting will be posted on the website and will include recipients, location, subject area, and population served.
The Endowment currently reports on its grant-making by listing all of its grants and grantees on its website, updated monthly, as well as Form 990-PF tax filings, with ongoing updates on the work conducted in furtherance of its mission (https://www.calendow.org/).
Information contained in The Endowment’s website is not part of this Offering Memorandum and is not incorporated by reference herein. All updates on the expenditure of bond proceeds are voluntary.
Over the next several years, the Endowment will continue supporting the Good Troublemakers – nonprofit organizations advancing racial justice and health equity in California for systemic and policy change.
This process includes:
To learn more about The Endowment’s progress on the Social Bond, click the button below for an update from President and CEO Dr. Robert K. Ross and Board Chair Bishop Minerva Carcaño.
Hear from Dr. Ross & Bishop Carcaño
As the Social Bond project moves forward, the Endowment will continue to focus grantmaking on areas of greatest need, where inequity is highest, and to align with the community on goals and needs.
Together, we will create good trouble to impact systemic change, create a more equitable and racially just California and achieve a Beloved Community.
