Today, The Russell Family Foundation (TRFF) announced three new impact investments totaling $14.5 million. In addition, it announced nearly $300,000 in COVID-19 relief grants to 44 community organizations and $175,000 to six nonprofits tackling food insecurity in Pierce, Kitsap, Thurston and Mason counties. This news is accompanied by two additional grants that support the Forterra Strong Communities Fund Hilltop Rite-Aid Project and a new Pierce County-based campaign to end youth homelessness.
Three new impact investments totaling $14.5 million in commitments bring TRFF’s portfolio to 90% mission-alignment. These investments include $5 million into Ownership Capital, a concentrated, quality-oriented mid-cap equity manager pursuing deep ESG shareholder engagement; $3.5 million into Marcho Partners, a hedged equity strategy investing in growth companies delivering technology-led innovation for positive social change outside of the U.S. and China; and $6 million to Global Impact Access Partnership II, an access vehicle investing in private equity and venture capital strategies across environmental sustainability and socio-economic development themes.
“These investments continue to deepen the quality and percentage of impact in our investment portfolio,” said Kathleen Simpson, CEO of TRFF. “We’re pleased to be making steady gains with quality investments towards 100% mission-alignment.”
The 44 flexible COVID-19 relief grants support organizations that fall under many of TRFF’s program areas and support critical pivots organizations have had to make during the pandemic, such as virtual programming adaptations, home-based experiential learning, emergency support services and new technology. The six grants addressing hunger will benefit food insecure families living in four counties in Puget Sound and funding will be used by the local nonprofits for drive-through food distribution, senior Meals on Wheels services and other vital community assistance.
“Our local food banks and meal sites are seeing a dramatic uptick in families served – some increasing service by as much as 50%,” said Fabiola Greenawalt, TRFF Program Officer. “Supporting food security is one of the most important things we can do in our community right now.”
“The COVID-19 pandemic has affected nonprofits in ways we could have never imagined,” said TRFF Senior Program Officer Holly Powers. “From staffing reductions, to changes in established programming, to gaps in donor support, our grantees are facing challenges that will persist for many months to come. It is important that TRFF provide dynamic support to community organizations during this time so that we can sustain our community partners who are working on the frontlines of environmental and social issues.”
In addition to these COVID-19 relief efforts, TRFF granted $25,000 to help seed a campaign to prevent and end youth and young adult homelessness in Pierce County, fiscally sponsored by Comprehensive Life Resources and led by a diverse community coalition made up of homeless youth service providers, funders, local government and community leaders. The Foundation also approved a $50,000 grant to Forterra NW to build on TRFF’s previous $1.5 million loan commitment to the Forterra Strong Communities Fund Hilltop Rite-Aid project. The Hilltop neighborhood has been home to the Black community in Tacoma for generations. This grant will help fund the community-driven design process for attainable housing and commercial space in Hilltop that addresses the ongoing displacement of long-time residents and businesses. Several design events invite Hilltop community members and business owners to collaborate on the planning and design process.
The six nonprofits receiving $175,000 in food insecurity grants include:
- Community Foundation of South Puget Sound, $60,000
- Thurston County Food Bank, $30,000
- Emergency Food Network (EFN), $30,000
- Nourish Pierce County, $30,000
- Kitsap Conservation District, $15,000
- LightHouse StoreHouse, $10,000
About The Russell Family Foundation
Founded by George and Jane Russell, The Russell Family Foundation (TRFF) provides a way for their extended family to make a quiet, positive impact in the community. TRFF does so by funding local, regional and global change through community investment in causes including resources for grassroots leaders, environmental sustainability and global peace. The organization applies their values of integrity, mutual trust, constructive communication, life-long learning and courage to all their work. With a place-based focus in the Puget Sound region, TRFF places particular emphasis on Pierce County, WA. For more information visit www.trff.org