Investing for Impact

NCF announced our decision to fully leverage the strength of our approximately half-billion dollar endowment with mission-aligned investing, so that every dollar works to further our mission.

As a signatory to the Montréal Carbon Pledge and as part of our commitment to 100% mission-aligned investing, NCF analyzes the carbon emissions of the publicly traded companies we’re invested in each year. Click here to view footprint analyses from recent years.

Changing Corporate Behavior Through Shareholder Activism

We use our voice and standing as an investor to shift markets and change corporate behavior to further progress on climate change and inequality while protecting long-term shareholder value. We work to change interpretations of the rules governing corporate power, vote proxies associated with the stocks we own, file shareholder resolutions on issues at the intersection of our programmatic interests and long-term shareholder value, and encourage dialogue among shareholders, nonprofit groups, and corporate managers. Read our guide to Changing Corporate Behavior through Shareholder Activism.

In 2002, we established Shareholder Activity Guidelines that guide how we consider our broad programmatic values, including those of diversity, equity, inclusion, accountability, and transparency, when engaging the companies we own.

Proxy Voting

The Foundation views proxy voting as an important piece of its active ownership strategy. Through voting its proxies, the Foundation is able to provide the boards and managements of the companies it owns with input on a wide range of issues, from the appropriateness of executive compensation to the importance of strategic efforts to address climate change.  You may click the links below for a summary of votes cast on the Foundation’s behalf during  the 2023 and 2022 proxy seasons.

Shareholder Resolutions

The Foundation works both independently and with other investors to file shareholder resolutions on issues with implications for both long-term shareholder value and the Foundation’s focus areas. Over the last fifteen years, NCF has filed more than 200 shareholder resolutions on issues ranging from climate change to executive compensation. A substantial number of the Foundation’s resolutions were withdrawn following successful negotiations with companies. Others have proceeded to a vote year after year with little to no interaction with the receiving company. Votes on NCF’s shareholder resolutions range from a low of two percent at a company with dual classes of stock, to a high of 98.9 percent for a 2013 resolution requesting that BorgWarner Inc. declassify its board of directors. Click here for more information about the results of NCF’s Shareholder Resolutions.

UNPRI: NCF was a founding signatory for the UNPRI and served on the Investor Group that helped to design the principles.

Financial Information

Tax Returns

The Nathan Cummings Foundation posts our tax return each year when filed with the IRS. This form contains information about our spending, compensation and grantmaking. You can click the link above to see the most recent returns.

Financial Statements

Each year, NCF retains independent auditors to audit our annual financial statements as part of our commitment to transparency. You can click the link above to see the most recent financial statements.