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Unlocking the Power of the Proxy
To help foundations play more active roles in the corporate-governance and social-responsibility issues of publicly held companies, As You Sow and Rockefeller Philanthropy Advisors have collaborated to publish Unlocking the Power of the Proxy: How Active Foundation Proxy Voting Can Protect Endowments and Boost Philanthropic Missions.
American foundations have total endowments of more than $400 billion, much of it invested in the equities of U. S. companies, putting them on par with other large institutional investors. Yet most foundations have ignored opportunities inherent in using the proxy vote to engage management on crucial decisions and, in turn, protect the investments on which their missions depend. Sixty percent of respondents to a recent Council on Foundations survey reported that they delegate proxy voting to investment managers, who often automatically vote in accordance with management's recommendations.
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Unlocking the Power of the Proxy walks readers through the myriad issues relating to proxy voting, from the roles played by various entities such as investment managers and public pensions to definitions of key terms and a discussion of related legal issues. The guidebook includes step-by-step advice for developing formal voting guidelines and policies, including how to move the guidelines through potential internal roadblocks; it then explains how to implement guidelines once they are approved. This guidebook gives readers examples of philanthropic organizations that have taken leadership positions regarding active proxy voting, and directs readers to additional resources.
Click here to download the guidebook (in pdf format).
2008 Proxy Season Preview
The Proxy Season Preview - Spring 2007 will help foundations learn about important upcoming proxy votes and ensure that they vote in an informed manner on these social and environmental issues that are directly relevant to their mission and programs.
With total endowments of more than $600 billion, foundations are major institutional investors. Yet when it comes to using the proxy process to enhance both their missions and investments, most foundations passively follow management's recommendations even when they are not aligned with the foundations' own interests or values. Foundations annually grant 5% of their endowment to support their mission, but how many utilize the remaining 95% to promote that same mission? Proxy voting is an easy first step for foundations wishing to align their mission and investments.
This new publication is from As You Sow, Rockefeller Philanthropy Advisors, and the Jessie Smith Noyes Foundation.
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 Click on the icon to download the preview (in pdf format). |
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2005, 2006 and 2007 Proxy Season Previews
 
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