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Money and Mission: Creating 21st Century Capital Markets for Better Social Outcomes
May 17, 2022 @ 4:00 pm – 5:30 pm EDT
On Tuesday, May 17, the Federal Reserve Bank of New York will host a discussion on the potential of philanthropy to act as both a source of capital and a model for the fundamental changes needed to address today’s challenges.
In this conversation, experts will discuss the following questions:
- Can we solve social problems with markets? If not, how do we marry market solutions with public policy and philanthropy in the most effective ways?
- Does the philanthropic model have an internal contradiction that stymies progress if it uses only 5% of its assets to advance its mission?
- How do we frame the big challenges facing communities—such as widening wealth inequality, affordable housing scarcity, and the decline of community services such as schools, health care, clean water, and internet access—so that they are not too overwhelming for foundations and other investors to hope to improve?
This event is open to the public and media. Registration is required. All remarks are on the record and the event will be recorded. For media inquiries, please contact Ellen Simon at ellen.simon@ny.frb.org.
Speakers
Speakers include Clara Miller, president emerita of the F.B. Heron Foundation and Geoffrey Canada, founder and president of the Harlem Children’s Zone and William Julius Wilson Institute.
Rev. Cory Anderson
Chief Innovation Officer
Winthrop Rockefeller Foundation
Geoffrey Canada
Founder and President
Harlem Children’s Zone and William Julius Wilson Institute
Audrey Choi
Senior Advisor and CEO
Morgan Stanley Institute for Sustainable Investing
David Erickson
Head of Outreach and Education
Federal Reserve Bank of New York
Otho Kerr
Director of Strategic Partnerships and Community Impact Investing
Federal Reserve Bank of New York
Andrea Levere
President Emerita
Prosperity Now
Clara Miller
President Emerita
The F.B. Heron Foundation
Agenda
4:00-4:05 pm
Welcome remarks
David Erickson, Head of Community Development, Federal Reserve Bank of New York
4:05-4:25 pm
Opening Remarks
Clara Miller, President Emerita, The F.B. Heron Foundation
4:25-5:25 pm
Surge of Inequality: How Different Neighborhoods React to Flooding
Moderator: Andrea Levere, President Emerita, Prosperity Now
Rev. Cory Anderson, Chief Innovation Officer, Winthrop Rockefeller Foundation
Geoffrey Canada, Founder and President, Harlem Children’s Zone and William Julius Wilson Institute
Audrey Choi, Senior Advisor and CEO, Morgan Stanley Institute for Sustainable Investing
Clara Miller, President Emerita, The F.B. Heron Foundation
5:25 pm
Closing Remarks
Otho Kerr, Director of Strategic Partnerships and Community Impact Investing, Federal Reserve Bank of New York
5:30-6:30 pm