About the Organization
Founded in 2016, Inherent Foundation is committed to improving access to quality education, protecting the environment, and developing sustainable capital markets. Inherent Foundation receives a portion of profits generated by Inherent Group, an impact-focused investment firm. By leveraging the resources and intellectual capital of Inherent Group, the organization invests capital and staff time to the Foundation's grantees and portfolio companies. With an initial endowment of $21M, the Foundation's assets have grown to $46M and are projected to be approximately $50M by 2022, with further substantial growth anticipated.
Inherent Foundation advances its mission by investing 100% of its assets in aligned social enterprises and businesses, as well as by making philanthropic grants which comprise both traditional grants as well as more innovative grants (e.g. pay for success, challenge grants). Inherent Foundation has made strategic investments in innovative social enterprises like Catchafire and Revolution Foods, as well as charitable grants to impact-driven organizations like Achievement First and Educate Girls. Over the years, the Foundation has deployed millions in capital to advance its mission, grown its Board, and engaged approximately a quarter of Inherent Group's team in supporting its mission. More information on Inherent Foundation and its work can be found here.
Inherent Foundation is the philanthropic arm of Inherent Group, one of the world's leading socially responsible investment firms. Inherent Group, a certified B Corporation, believes that businesses that incorporate material sustainability factors into their strategy, operations, and culture will outperform over the long-term. Furthermore, it believes that businesses are uniquely positioned to address environmental and social challenges through product innovation, operational excellence and sustainability advocacy. With over $1 billion in assets under management, Inherent Group integrates environmental, social, and governance (ESG) considerations into all phases of the investment process Further information is available at https://www.inherentgroup.com/.
About the Position
With its recent growth, Inherent Foundation is seeking to hire its first dedicated staff member to lead its programmatic and grantmaking work. Working closely with its Board of Directors, the Managing Director will support the continued refinement and development of the Foundation's grants, steward existing grantee relationships as well as identify and qualify additional funding opportunities. As a young foundation, the Managing Director will play a key role in codifying giving strategies and approaches to prepare the foundation for future growth. The Managing Director will also play a key role in measuring the impact of its investments and working with stakeholders across the Inherent Group to advance its mission. While the primary focus of this role will focus on innovative grantmaking, the Managing Director will be periodically asked to advise Inherent Foundation on some of its for-profit investments to help analyze their social impact.
Reporting directly to the Board of Directors, the Managing Director will begin as a part-time position and potentially grow into a full-time role in the years ahead. This is an ideal opportunity for an innovative thinker and knowledgeable philanthropy professional to shape the direction of a growing foundation, affiliated with a leading values-aligned investment firm.
Responsibilities include, but are not limited to:
- Partner with the Board of Directors to oversee a growing portfolio of approximately $2.5M in annual charitable grants and PRIs
- Identify mission-aligned funding opportunities on behalf of the Foundation and structure innovative grants (e.g. recoverable grants, pay for success, first loss grant capital, challenge grants) and traditional grants that advance its mission
- Leverage best practices in the field to build and improve systems for grants management, reporting, and impact measurement across portfolio areas
- Prepare agendas and reports for quarterly Board meetings with the Foundation's Directors, strategically engaging the Board in key decisions and ensuring operational and financial compliance
- Develop systems for knowledge management and process improvement, enabling the Foundation to build on existing efforts and prepare for future growth
- Serve as a thought partner on social impact analysis of Inherent Foundation's potential for-profit investments
- Work with Inherent Group's team on assessing opportunity, and, where appropriate, developing a relevant and engaging giving strategy, and employee engagement opportunities
- Set the vision and plan for communicating the Foundation's work to internal and external stakeholders
- Maintain and grow key external relationships – including with nonprofit partners, content area experts, members of the press, etc.
- Represent the Foundation at both internal and external events; including conferences, volunteer days, and at relevant Inherent Group events
The ideal candidate will possess the following qualifications:
- 10+ years of professional experience with significant leadership experience as a grant maker or investment advisor in an impact driven enterprise
- Demonstrated success creating systems that enable programs or investments to grow, while also improving outcomes
- Experience collaborating with partners and stakeholders across multiple contexts (e.g. public/private; high growth/established)
- Entrepreneurial mindset, with the ability to proactively and reactively seize opportunities as they arise
- Ability to work independently to drive outcomes and meet deadlines
- Strong interpersonal skills; energetic, enthusiastic, collaborative, and personable
- Appetite for continuous learning, following, understanding and applying relevant industry trends
- Experience working within a growing and entrepreneurial organization, knowledge of and experience in the financial services industry and/or corporate philanthropy preferred
- A deep commitment to diversity, equity and inclusion, and experience integrating these values into all aspects of the Foundation's investment approach and operational strategy.
Compensation and benefits:
Compensation package will be competitive and commensurate with experience.