Knowledge Center

Monday, January 19, 2015

Philanthropy and Social Impact Investing - Fiduciary, Legal and Practical Considerations of Aligning Investments with Social Impact

The Chicago Estate Planning Council

January 22, 2015 Luncheon Program

The Standard Club

320 S. Plymouth Court

Chicago, IL


Social impact investing has emerged as a growing trend and is considered by many wealth advisors and socially responsible investors as one of the most promising approaches to unlocking significant sums of private investment capital to complement public resources and philanthropy. Among the important responsibilities of directors and trustees of private foundations, attorneys, wealth advisors and managers of family offices is deciding how and where to invest assets earmarked for charitable purposes. 

In this session, panelists will review the various component parts of social impact investing, including program-related investments, mission-directed investments, social enterprises and hybrid charities, social impact bonds, venture capital structures and SRI/ESG investments. Panelists will also review the somewhat complex fiduciary and tax issues for trustees, foundation managers and family offices who work with individual and institutional investors who seek to achieve the greatest impact by pursuing both financial returns and social and environmental benefits. Finally, the panelists will survey available resources relating to social impact investing for practitioners seeking to provide advice to clients who wish to participate in this burgeoning field.


Moderator:

  • Marguerite Griffin, The Northern Trust Company

 

Panelists:

  • Laura-Min Proctor, J.P. Morgan Private Bank
  • Jeffrey Zaluda, Horwood Marcus & Berk, Chtd.
  • Jason Baron, U.S. Trust, Bank of America Private Wealth Management

Jeffrey Zaluda has been with Horwood Marcus & Berk for over 27 years, helping the firm grow from a small entrepreneurial boutique to Chicago's leading middle market law firm. Jeff co-chairs HMB's Trusts and Estates Group, Fiduciary Counsel Group, and Social Impact and Investments Group.

The firm's Social Impact and Investments practice grew out of an intentional combination of HMB's active involvement in Chicago's philanthropic, investor and burgeoning VC markets, allowing the firm to advise clients on social capital deployment in a manner that includes traditional grant making while also assisting clients in achieving measurable returns on their philanthropic investments.

Jeff's clients include individuals, families, foundations and charities, social impact investors and entrepreneurs, fiduciaries, and closely held businesses and their owners. The practice includes tax, estate, business, succession, and asset protection planning, trust administration, fiduciary litigation and, most relevant for this presentation, counsel on philanthropic and impact endeavors.

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