Aligning Mission and Impact

Hello, everyone. This is George Suttles, executive director of Commonfund Institute. And I'm Amanda Novello, senior policy and research analyst at Commonfund Institute. And this is Espresso Chats, a podcast by Commonfund Institute, where we deliver short, strong shots of governance and leadership insight. So far, we have spoken with Tim Yates on the state of higher education and with Hallie Label and Taisha Smith about expanding investment manager opportunity sets. And since Commonfund works with organizations across the endowment and foundation space, we wanted to make sure we hear from foundation leaders, especially at this time. We are absolutely thrilled to be joined by our friend and colleague, Joanna Jackson, president and CEO of Weingart Foundation, to talk to us about how her foundation is leading in this moment. We've got our coffee. We're excited. We know this time is going to fly by, so let's just jump right in. Welcome, Joanna. Thank you. So, Joanna, in your words, tell us about Weingart. What's the mission, scope of work, size and scale, and also a little bit about how you came to lead the organization? I'll be too. And I and, again, wanted to say thank you. I'm really honored, to be having this espresso chat with you all, with you both. So Weingart Foundation, we are a private regional grant making foundation based in Los Angeles, California, And we partner with nonprofits, collaboratives, coalitions that are working to improve conditions in our communities to advance racial, social, and economic justice for all. So for us, this work really is about investing in people and organizations that are closest to the challenges, poverty, you know, inadequate resources so that they can actually develop the solutions, the pathways so that everyone will have what they need, to truly thrive, in this world. And we use every resource we have to do that. Right? It's not just about our grant making, which is a little over thirty million a year, which is significant, but it's it's about our entire endowment. Right? Bringing every resource we have to that. And that's over eight hundred million dollars that we have invested, and that is through a commitment we made, back in twenty sixteen to fully align all of our assets with mission. So we have a robust mission aligned impact investing program. That means we can invest in affordable housing. Right? Real solutions, for people in communities. Managers that would open pathways for entrepreneurs in our community who would not otherwise, gain access to the kind of capital that we have. So that's that's a little bit about who we are. And like I said, we do that throughout five Southern California communities. We have special focus on issues around immigrant justice and housing justice, which are real critical important issues in Los Angeles, but throughout Southern California, remain priority areas for us. A little bit about myself. I am, I'm a black woman. I'm a mother. I'm a daughter. I'm a sister. I'm a wife, a friend to many. And I also when I think about my role in this work, think back to where I come from that I'm directly a descendant of generations of activists and organizers that work to raise children that were rooted in injustice, integrity, collective responsibility. They taught me, from a very young age that injustice wasn't something that we just adapt to, that it was our right, our responsibility just to transform. Right? And so that I think has been kind of guiding light for me throughout my career, which has been all nonprofit, a little bit in the public sector and for the last, you know, twenty years or so in philanthropy. While I have just passed my one year mark as president and CEO at the Weingart Foundation, I've actually been at this foundation almost seventeen years. It is not, I think, the trajectory I ever could have imagined for myself when I walked into this foundation sixteen years ago. But I discovered there really is important work we can do in philanthropy, the spaces that we have access to to be able to drive real change. And so from the moment, I think I I stepped into the foundation, like I said, almost seventeen years ago to help expand access through the foundation small grant program to more grassroots on people of color led organizations, it has been for me a walk of continue to align that practice with our mission and our goals. And when we made a commitment in twenty sixteen to, to equity, and to justice, which evolved into a commitment and evolved mission, around racial, social, and economic justice, that really, really, reinvigorated me, around the work here and, continued my leadership trajectory to VP of programs. And, like I said, ultimately, president and CEO a year ago, and I find it a real privilege. It is never dull. It is exciting. It is incredibly challenging in this moment, but what a privilege to be able to do, this work particularly at this time. No. Amazing. And so I just wanna, you shared many, many things that resonate. The alignment piece, just the this work aligning with how you show up in the world feels really, really important from a leadership standpoint. And then the understanding that there are many levers to that the foundation can pull and trying to sort of forge alignment there in a way that can amplify and multiply impact, feels, feels incredible. You you mentioned that Weingart Foundation does work at the intersection of racial, social and economic justice. So Mhmm. Anyone that is following the news knows that there's been a lot going on in LA slash Southern California to to to say the least. I mean, ICE raids, deployment of the National Guard, and other military assets into LA against the wishes of the governor and the mayor, etcetera, etcetera. So given Weingart's mission and being in LA in Southern California broadly, can you speak to how your organization and the communities you partner partner with are experiencing and responding to what's going on? And how are you experiencing and sort of flexing your leadership, in this moment? I have many follow-up questions. And then how are you engaging with your board? I I think we're just so intrigued by it all because you are in this moment that requires incredible leadership, and you really are showing up. So we'd just love to hear more from you. Yeah. It's it is beyond what I think, you know, any of us could have ever imagined. And, certainly, it seems, you know, it's not enough. Everyone's saying it's, like, unprecedented, but it really is. Right? Things that we've never experienced, in our lifetime. And so one thing is, you know, immediately, as an organization checking in with the board, you know, we'd stay steady in our mission. Right? If there's anyone in this at this moment, who can stay committed, to a mission I mean, let's, to be honest, everything we are for, right, is being challenged, at this moment. Right? But we get to stay the course. We don't get federal funding, and we're in a privileged position that we also we don't have to raise money. Right? We are privately endowed, and that gives us some flexibility, to to, to stay the course and be a little bit bolder at this time. Right? And so wanting to be really clear, about that and that privilege we have, and I think, you know, the responsibility to stand in it at this moment because our partners need us to. And so that means, you know, obviously, continuing to move money and resource to folks that need it that are on the front lines, to do that rapidly. We have definitely, you know, pushed out, you know, since January, a lot of rapid response grants to our partners, particularly in the immigrant justice space. And I'll say and this is on top of having fires, right, like, literal fires in our community, right, to respond to. So it's it's really been a challenging moment, but I think for us, one, we have to continue, continue to move resources, right, to the advocates, to the organizers, flexible, you know, multiyear money to folks, but to also to lean in and be in conversation with folks, what else do you really need? People's safety and security is first and foremost in this moment. How are we shoring up partners and organizations at this time to be able to protect themselves? And there's also always in crisis. You know, there is opportunity and what we have really been leaning into, and there's an opportunity to do is to build alliance and to kind of grow that alliance with partners. Right? Like, this isn't this isn't this isn't a moment where any one organization, you know, can change the trajectory, by themselves. Right? And, actually, the power we have is collective in our collective voice, in our pooling of resource, where we can, like I said, share voice. And so we have been a part of that, right, of of speaking out, right, of sharing, you know, with other foundations and nonprofit partners. I just got off a call actually this morning with our statewide, CEO immigration table. Right? Folks who are willing to come together and say, we are gonna, yes, cool resources to create, opportunities to push more money more quickly to partner so they don't have to wait, but to also to use our voice, in that way. Right? And sign on, you know, where there are opportunities to share statements, to use our platform. This last, I guess, October, I hired our first ever director of communications, which feels I knew it was gonna be timely and important. Right? Narrative and using our voice is something that, I think we we needed to continue to lean into more, as a foundation. I think it's critical to our to the long term work. Right? The stories people hold, the way people, understand, the challenges that we face and how we got here, is really important. And so that felt, even more so timely now. And so really pushing out, you know, using our social platform. Right? We have one. We can use it, to be able to to, to influence other folks. And now is the time we need to be, as I said, strategizing with partners. Right? And then, you know, like like a lot of foundations, you know, the call is, you know, in in meeting this moment. And as you know, I'm a board member of Geo that I think has been really wonderful also in articulate in ways that, you know, some of which I've I've already lifted up, like what, what can funders do right. To meet this moment, the rapid response, the pooling, right. The giving the legal support. Of course, you know, like I said, the multi year unrestricted support larger and longer grants. And is this a moment to go beyond? Right? That we know the five percent, is what is mandated. But but to have that be always at minimum. Right? The baseline. It's not the ceiling. It's just the floor. And this is a moment where we have to be in conversation about doing more. And we are on a fiscal year. When it came to this fiscal year, the conversation, was do we continue to do more, and how much more? And the answer was yes, that we need to continue to do more, and you do. And I think, you know, as you have to do, we brought our, you know, advisors in. And what would it mean? What would it look like? Let's model out. Right? If you did one percent, two percent, what's the long term impact? And if we looked over a twenty five year trajectory, right, the impact additional one, two percent more was really not that significant. But the opportunity for us that every additional percent is additional eight million dollars. And what that could mean to folks right now is, is significant. Right? And that we are what we are up against, is, is such a crisis for, you know, our democracy, I I believe, right, in this moment, certainly for the viability of our partners. Right? I'm asking myself, where do we wanna be on the other side of this? If we think about that, if we want to continue to have a robust, you know, nonprofit infrastructure, on the other side of this. If we don't want it to be completely eroded, then we need to be investing to sustain that right now. And so, I'm I'm happy that, you know, us along with so many others, who've made, you know, bold commitments to go above and beyond in this moment. And it does not mean it's not either or, you know, you have to go above and beyond now. It means that, you know, you are compromising your ability to exist in perpetuity if that's a decision that, you know, your, you know, foundation has made that there's an opportunity to incrementally. And you can assess every year. We we also talked about being willing to kinda touch base midyear, and there may be a need to do more. But given our mission, right, we're a mission driven organization, our mission calls us to respond to the real crisis that our communities, are are confronting right now. I think you've covered a lot of things that I wanted to ask about, you know, how leaders are stepping up in this moment, coming together in partnership to really advance their missions and realize that they don't have to do it alone, and also about their strategic considerations. Like, we're always thinking about long term viability, sustainability, intergenerational equity. And I think there is this question that comes up a lot about what is the impact of spending more now to meet the moment versus saving it for later. So Yeah. I would love if you could dig in a little bit into those conversations that you are having with yourself, with your board. Are there any challenges that you could lift up that you had to overcome that might be valuable for anyone else that's thinking about doing the same? Yes. Yeah. I mean, it's not that, simple. And let's, you know, be honest. You know, there's, you know, I'm sure if you ask my staff, they will they will say, you know, it's not enough. Right? And then, you know, there was another side of the conversation that says, but is there ever enough? Right? Like, if it it if we were to spend it on now, is that enough? And so there is this balance between, you know, understanding, that kind of acting as if, business as usual would get us through this moment. We know it's not okay that that was not the option. Right? And that was part of the conversation. If everyone is saying this is this is something we've never seen, that this is not a business as usual moment, then we've gotta do something more. But how much more? Right? There was a lot of conversation. It continues to be conversation of how much more. And I think if you ask staff, it would be even more. Right? That it is it is as much as possible, put it all down now. Right? Like, just hand the money over. We are in we are ever in existential threat to everything we believe in it's now and put it all out there. And, you know, a board who we are a foundation that has at the moment said, yes. You know, we we need to maintain that intergenerational equity. So what is so what do we do, right, in this moment? And that's when it was important to kinda model out at different at different amounts, right, to actually do you know, and it's not perfect. Right? And you'll say, you know, we can't honestly say twenty five years from now, we know that this is exactly where we will be. But given what we know, right, and our history, what would be the likely impact? Right? And it is and it is there's not, you know, there's not a perfect answer in this moment. Right? It is, but for me, reminding us, that is actually our commitment is to mission. Right? And there is a mission commitment. We are not, you know, of, an investment firm. Right? And we get to make the decisions, right, about what we do, you know, year in and year out, with our resource. And if we, as a foundation, we'll stand by. I said this earlier. Like, I I feel like my call always is how do we align practice with what we say and in our values. Right? Values around partnership. Right? And really listening and trusting in our community leaders. Right? And, and responding. Right? And, being responsive, to to our leaders and being innovative and being all of these things that are really important to us and having courage, right, in difficult moments. Right? If we're leaning on all of that, what does it call us to do? And for me, that was there was no way that we can stand on the bare minimum, right, at a time like this. And I and I think, you know, and our board understood that. There is all you have to do, I think it's always transformative to us when we go to community and listen to partners. Right? So for mission driven, right, we had that March planning conference. We were in community. Right? Listening to community leaders, understanding the challenges. There is no question given our mission that mean if if if they are having to go above and beyond, stretch beyond out of their mission, right, organizers who are moving to rapid response, right, to communities, then how do we not do the same if we are in true partnership and we say that we're supposed to be walking alongside them. Right? No. Absolutely. I mean, Joanna, you you are absolutely on fire with the leadership gems and insight. So I just really, really appreciate your appreciate you. I wanna give you the final word, but if you don't mind, I wanna reflect on a couple of a lot of gems to to to to farm from from this conversation. But what I love is, how do we align practice with what we say? Right? And I think as leaders both in the boardroom and as executives, that's really the philosophical question that will then guide strategies and tactics. Right? Is how do we align that and then doing the work of that alignment is key? Yeah. Yeah. Moe money, Moe quickly. Love it. I'm gonna get us all t shirts. Yours is in the mail. But I think especially in this moment, right, that is the that is the the anthem. Right? Is if it we we we we understand if we have a mission orientation. Mhmm. And one of the main levers that we pull is to deploy resources strategically, then mow money, mow quickly feels like the clarion call. Right? And then finally, just courage in difficult moments. Right? Like, this will require us as leaders to be courageous, and that felt that feels really important to to repeat and reiterate because you said it with such conviction, and you're really living and leaning into it in a way that feels feels important. So thank you for giving me the space to reflect on all of those leadership insights. But, again, wanna give you the final word. What's exciting feels feels weird to to frame it as. Give us some leadership strategy and hope as the final word. What are you leaning into? What's your North Star as you continue to lead in this moment? Yeah. I know. I hear you on the exciting because it doesn't Right. There has to be a moment if that's Yeah. I don't know if you're excited or at the beginning. Maintain, you know, inspiration. Right? You know, motivation in this. And I think, you know, I I said this early. It's kind of always looking for in crisis, there is always an opportunity though. Right? And one of them is is to come together. And so what feels, maybe new and the opportunity we see is to is to build alliances, right, cross sector, invite people into this, into this work that to me, right, I remain a hundred percent clear, committed to my vision doesn't shift to building this world where, you know, everyone is safe, right, in their homes, in our families, in our communities. Right? A world where we don't have poverty. We don't have racism. Right? Where every community has what it needs to thrive. Like, that is my clear right no star. Racial justice, I don't let go. I know it's a bad word, but that is my north star. And I believe it for everyone. Right? That means everyone. That doesn't mean certain people. That means leave no one behind. Right? It's this promise and this opportunity in this country. And I think there is, in this moment, an opportunity to invite people into that kind of vision. Like, what are we for and to grow work around that? And And that is what is exciting to me. And I always when I feel, like, weary or challenged, I just go back to my ancestors. Right? I mean, my grandmother was leading leaning into this work literally a hundred years ago. Right? A black woman who graduated from UC Berkeley in nineteen twenty three. I in no way face the kind of challenge, that she did. Even though this is unprecedented for us, it is not unprecedented. Right? The kind of challenge, that people have had to face throughout history and trying to build this America for everyone. So that keeps me right? Knowing that history keeps me always looking forward and that we are in line. We are one point in time, right, in this long trajectory, and I'm doing this work for those that'll come after me generations and generations. Right? Because I know I may not see it all in my lifetime. So in this moment, those those are the kind of things that inspire me and excite me. And like I said, at a moment where, you know, so much is being dismantled, so much of the work. Right? There's an opportunity to build something new and different. Right? And so how are we building collectively? How are we inviting other people into this conversation, right, about what's impossible, right, to shift structures, to fund in new ways, right, that are, you know, removing barriers, right, using every tool we have, using our voice to amplify work. More people are interested in in finding ways to do that and do that collectively. So the to me, the opportunity is let's harness that. There is power, in, in doing that collectively. And so that that gives me inspiration, you know, each day. Right? What's possible? When everything is is is potentially being torn down, we get to build something up. Maybe that is more beautiful and works more effectively for all of us. Amazing. Thank you for coming on the show. We really we appreciate you, and we appreciate your time. Thank you. Thank you. I appreciate, the conversation. We will see everyone next episode. Bye.