Business Commons^™

A Promising Place-Based Collaborative Impact Investing Fund Strengthens Community And Informs Philanthropic Practice, Benjamin Kerman, Clara Miller

The Foundation Review

A recent evaluation of the Western New York Impact Investment Fund adds to the proof-of-concept literature regarding “doing good and doing well” while pointing to experience-based best practices in philanthropic impact investing. Born of a collaboration between regional and national philanthropies, the fund brings together corporate, individual, and philanthropic investors to deliver an inclusive impact investment mechanism. Founded in 2017, the fund evolved from concept to operating entity, focusing on mitigating capital gaps, longterm economic decline, and wealth divides.

Evaluation at Year 5 describes how the professionally managed, collaboratively governed fund has attracted and deployed capital, contributing to ecosystem improvements …

Front Matter

The Foundation Review

No abstract provided.

The Field-Building And Grantee Experimentation Role Of Foundations In Impact Investing As Illustrated By A Gender-Lens Investing Case Example, Courtney Bolinson, Laura Allan

The Foundation Review

This article argues for foundations to play two critical roles in the impact investing ecosystem: to commission and/or support research that helps build more equitable and socially just impact investing and to fund grantee-specific experimentation in areas of impact investing and social enterprise that are nascent or developing.

To illustrate what this can look like, this article presents action research conducted on gender-lens investing, describing in detail a 2019 Mastercard Foundation grant to Engineers Without Borders Canada. The project involved two main goals: testing and developing gender-lens investing tools and processes with seed-stage investees during pre- or post-investment phases and …

The Ford Foundation’S Work To Build The Field Of Impact Investing, Margot Brandenburg, Abeda Iqbal

The Foundation Review

Impact investing has grown dramatically over the past 15 years, with foundations playing a critical role through their program-related and, increasingly, mission-related investments. A smaller number, including the Ford Foundation, have dedicated grant and other programmatic resources toward growing the field. Without this funding, the metrics, engagement, policies, and norms needed to underpin capital markets at scale will be slow to materialize.

This article looks back at the long history of aligning financial investments with social values; touches on the Ford Foundation’s pioneering role in the emergence of PRIs as a tool to stretch grantmaking budgets; and details the impact …

Donor-Advised Funds And Impact Investing: A Practitioner’S View, Sam Marks

The Foundation Review

Any discussion of foundations embracing impact investing must include some discussion of one of the largest — and growing — sources of philanthropic capital: donor-advised funds. These philanthropic accounts allow donors of all sizes to access many of the functions of a private foundation, including the potential to invest for impact. Sponsors of these funds, however, face unique challenges in catalyzing impact investments.

Like the larger institutional foundations that have led the way as mission investors, sponsors must often educate and inspire governance boards and investment committees. Unlike foundations with professional program staff, decisions regarding philanthropic resources at sponsors of …

Using Foundation Capital For Good: Opportunities In The Balance Sheet, John Sherman, Veronica Olazabal

The Foundation Review

Foundations increasingly use their full balance sheets to unlock more of their capital for good. They look beyond conventional grantmaking to pursue their charitable purposes in many ways that exemplify innovative, full-balance sheet approaches: investing in nonprofit and for-profit companies that offer clear social and financial returns; investing their corpus in companies whose products and services align with their missions; using social bonds to inject new resources into their programs; offering guarantees to help grantees manage risk; and avoiding companies whose practices run counter to their grantees’ efforts.

This article looks at the structures, pathways, and tools for foundations wanting …

Defining Your Double Bottom Line: Philanthropy And The Investment Landscape, Stephane Ligonde, Garrett De Temple, Tuokpe Ajuyah

The Foundation Review

Grantmaking traditionally has been at the heart of philanthropy, whereas impact was the exclusive expectation of any desired result. While there is still a place for this kind of pure push for change, many investors today expect more, leveraging the power of the markets to invest in a way that is both impactful and able to maximize their financial rewards. This is particularly true of foundations with an eye toward supporting the perpetuity of their missions and organizations.

This approach also offers a range of innovative mission-based benefits, including extending the utility of philanthropic capital and generating more capital to …

Executive Summaries

The Foundation Review

No abstract provided.

Leveraging Foundation Balance Sheets For Greater Impact: Piloting A Pooled Guarantee Program, Jane Reisman, Jim Baek, David Newsome, Christine Ryan

The Foundation Review

A guarantee instrument is a credit enhancement tool that can enable philanthropies to unlock millions or billions of dollars for societal impact. The Community Investment Guarantee Pool, created in 2019 by a collaboration of philanthropies and allied impact investors, or guarantors, is a novel initiative that uses guarantees to leverage the balance sheets of foundations and other institutional investors for enhancing the credit of intermediaries in the affordable housing, small-business, and climate markets. As the guarantees are unfunded, foundations continue to keep their endowment invested in the conventional market.

This article describes the Community Investment Guarantee Pool, details its theory …

Back Matter

The Foundation Review

No abstract provided.

Tfr 14.4 Full Issue

The Foundation Review

No abstract provided.

Editorial, Teresa R. Behrens

The Foundation Review

No abstract provided.

Role Of Young Adults In Family Vacation Decision Making: A Study Across Gender, Shayan Basharat Fazili, Anisa Jan

Journal of Tourism Insights

In recent years, family vacation decision-making has grown in importance as a subject of research for tourism academics since it helps practitioners develop specialized marketing strategies for their target market. However, there hasn't been much focus on how different family members perform during the many stages of deciding on a family vacation. This study examines the three primary stages of choosing a family vacation and the part that young adults play in each stage of this process. The purpose of this study is to understand how young adults engage in choosing family trips. Additionally, this study attempts to examine how …

Virtual Reality And Blogging In Tourism: Approached Towards Creating Better Tourist Experience, Anukrati Sharma, Shruti Arora

Journal of Tourism Insights

Virtual reality in tourism (virtual tourism) and blogging are highly valuable for visitors and travellers since they allow them to undertake a scouting trip before embarking on their adventure, avoid being hassled and avoid crowds while learning more about the location they are visiting or have already been. This paper provides an overview and analysis of the relationship between virtual tourism, blogging, and making the image of tourist destinations through promotion virtually and via blogs. According to the study's findings, virtual tourism cannot replace the actual experience, but it can assist in recreating it if the user has previously visited …

Impact Assessment Of Covid-19 Pandemic On Perception And Travel Behavior Of Tourists With Strategies For Resilient Recovery Of Jammu And Kashmir, India, Danish Iqbal Raina, Tanveer Nasir, Taniya Qazi

Journal of Tourism Insights

The purpose of this study is to investigate the influence of the Covid-19 pandemic on changes in tourist perceptions and travel behaviour when visiting Jammu and Kashmir during the unlocked phase of Covid-19. This study is intended to be nice. This pilot study included 208 travellers who were chosen on a non-probabilistic basis. A Chi-square test of goodness of fit, as well as content analysis, were performed on the collected data. According to the findings, the current COVID-19 epidemic will have an impact on travelers' perceptions and behaviour intentions in terms of economic expenditure, health and hygiene, modes of buying, …

Waste Management Practices Of Small Hotels In Dehradun, Arakhita Behera, Surendra Singh Jatav

Journal of Tourism Insights

Waste has emerged as a major issue in the modern society. Due to urbanization, the volume of waste is speedily rising. If the origin of waste creation makes no effort, then all wastes are either disposed of or burnt which results in waste of land, air, water, and energy as well as the growth of undesirable animals, plants and microorganism. Through the associate and involvement of the local population, waste may be managed locally in a sustainable manner. Waste management may be an expensive endeavor if not carried out appropriately. In most of the developing nations, 20-50 percent of urban …

Returning To Travel: Fear, Coping, And Resilience During The Covid-19 Pandemic, Wilson Xieu, Jungyun "Christine" Hur, Abhijeet Shirsat

Journal of Tourism Insights

The COVID-19 pandemic has greatly affected the tourism industry, resulting in consequences such as travel fear and a decline in travel and tourism. Recognizing the needs of study in pandemic travel, this study explored individuals’ pandemic travel decision-making mechanism by investigating relationships between pandemic travel fear, coping strategies, resilience against travel fear, and pandemic travel intentions. Further, this study investigated the moderating role of risk tolerance in those relationships. The findings of this study suggest that people responded to pandemic travel fear by engaging in different types of coping strategies (e.g., task-oriented, emotion-oriented, and avoidance oriented), and through the coping …

Analysis Of Trend And Pattern Of Tourists’ Arrival: A Case Study Of Desert Tourist Circuit, Rajasthan, Sunil Manglaw, Prof. S.P. Kaushik, Manoj Khayalia

Journal of Tourism Insights

Tourism is one of the fastest-growing industries in the world economy particularly in developing countries. It is an important tool for the development of destinations’ economies and provides various socio-cultural and economic benefits such as employment generation, foreign capital exchange, infrastructure development, investment of capital, preservation of heritage sites, etc. Rajasthan is one of the most popular tourist destinations on the world’s map due to its diverse socio-cultural landscape. The desert tourist circuit has immense potential for attracting a large number of domestic as well as foreign tourists. The main aim of this study is to examine the trend and …

The Economic Impact Of Victoria Regional Airport (Texas), Christian Glupker, Paul Isely

Other Faculty Publications

SUMMARY OF ECONOMIC IMPACT

• A combined economic impact of $44.7 million in economic activity, generating $11.4 million in earnings and supporting 171 jobs. The total economic output includes $12.0 million in indirect and induced economic activity, with approximately 41% ($4.9 million) occurring in the city of Victoria.
• Victoria Reginal Airport's annual spending of $2.8 million generates $4.4 million in total output and supports 23 jobs. The total economic output includes $1.6 million in indirect and induced economic activity.
• Skywest Airlines and TSA operations generate $6.6 million in economic activity and supports approximately 30 jobs. The economic activity includes $2.1 million …

The Soft Stuff Doesn’T Have To Be Hard: Foundation Investments In Grantee Workers Are Necessary, Valuable, And Measurable, Rusty Stahl

The Foundation Review

There is an urgent need for funder investments in the ability of grantee nonprofit organizations to support their staff. Such investments, when done well, can yield significant value for individuals, organizations, and fields of work or movements. Furthermore, the value of these investments can be evaluated and communicated.

This article explores the reasons for and implications of the inadequate response by funders, offers a path forward for designing investments in grantee staff, and documents how funders can capture and communicate the value of these “talent investments.”

Powerful myths serve as barriers to widespread funder investment in grantee staff, and the …

Front Matter

The Foundation Review

No abstract provided.

Advancing Philanthropic Strategy Through Evaluative Thinking: One Foundation’S Approach, Christine Baker, Margaret Eigsti, Kathryn Racine, Laurence O’Connell

The Foundation Review

The Sisters of Charity Foundation of Cleveland supports Catholic sisters and their ministries in northeast Ohio through the grantmaking, partnership, capacitybuilding, and evaluation efforts of its Catholic Sisters Program Area. The decline of sisters actively engaged in ministry, due both to their rising median age and a decades-long decline in their overall numbers, called for a reconsideration and likely revision of the CSPA existing theory of change.

Unlike other strategic approaches at the foundation, such as ending homelessness or improving health equity, transitioning from sister-led to lay-led leadership of ministries remained largely unexplored: Basic research was lacking, and model practices …

Back Matter

The Foundation Review

No abstract provided.

Executive Summaries

The Foundation Review

No abstract provided.

Learning As We Go: How Emergent Process Supports Sustainable Community And Philanthropic Change, Elizabeth Myrick, Rachel Mosher-Williams, Laurie Zierer

The Foundation Review

Beginning in 2014, PA Humanities, one of 56 state and territorial humanities councils across the country, drew upon the work of Orton Family Foundation to deploy the Community Heart & Soul method, which centers community planning and civic engagement around connecting people to each other, and to the many assets of the places they live, through individual storytelling and collective narrative building.

Between 2015 and 2018, PA Humanities awarded matching grants to three locations in Pennsylvania — Greater Carlisle, Meadville, and Williamsport — to pilot PA Heart & Soul, a humanities-based, resident-driven community planning process that cultivates a shared sense …

Book Review: In Defence Of Philanthropy, Nabih Haddad

The Foundation Review

No abstract provided.

Editorial, Teresa R. Behrens

The Foundation Review

No abstract provided.

The Yin And Yang Of Equity-Centered Philanthropy, Douglas Easterling, Laura Mcduffee, Sabina Gesell

The Foundation Review

Foundations face two competing imperatives when they commit to advancing equity. On the one hand, they are counseled to support and follow the lead of community-based groups that are on the front lines of social change. On the other hand, they are also being challenged to use their power and influence to act boldly to change inequitable structures, policies, and institutions. These two orientations, yin and yang, can take a foundation in different directions and thus cause confusion and internal conflict.

The challenge for a foundation is to balance and integrate the two orientations into a comprehensive and effective approach …

Defining Regenerative Business Through The Context Of Place: A Case Study West Michigan Businesses, Aislinn Teachout, Aislinn Teachout

Masters Theses

This study builds upon existing scholarly literature on regenerative design and regenerative sustainability by relating the framework to existing West Michigan businesses and their place-specific practices. Applying concepts from those more developed fields to business sustainability, this paper contributes to the still emerging field of regenerative business by proposing a comprehensive definition of regenerative business. The definition is then applied to three businesses in a case study format to highlight regenerative business practices. While none of the businesses highlighted claim to be regenerative, all have examples of practices that demonstrate regenerative action and enhance the West Michigan community.

By defining …

Total Taxation: An Examination Of The Total Tax Burden Of Individuals In The West Michigan Area, Connor C. Meech

Honors Projects

Have you ever thought about how much you might pay in tax each year, across all tax types? If you have, a chill probably went down your spine before you gave up thinking about it. When the subject is brought up, most people think primarily of income. The truth of the matter is that income tax is far from the only tax we pay. Throughout the year, Americans may end up also paying sales tax, property tax, fuel taxes, various sin taxes, and estate tax, just to name a few. With so many ways to be taxed, some of which …