NEW YORK, September 29, 2022 – The Heron Foundation today announced that it has partnered with TILT Investments on a strategic repositioning of the U.S. Community Investing Index (USCII), with a stated goal of allowing the USCII continued growth, development, and successful application in the years ahead. Under the agreement, TILT will acquire all intellectual property rights related to the USCII and its methodology, including responsibility for obtaining all necessary source data. Heron will continue to play a major role in the future of USCII, taking a 20 percent founder’s share and a seat on the company’s board.
Developed in 2005, the USCII is an index of publicly traded companies designed to identify those that contribute positively to the communities in which they source, operate, and sell. Heron and its research partners have continually refined USCII methodology to draw from new data sources and better identify which enterprises are net contributors to society based on their approach to human, natural, civic, and economic capital.
“The USCII is a core part of Heron’s history and work, helping our foundation fulfill its mission of helping people and communities help themselves,” said Dana K. Bezerra, President of Heron. “Our commitment to that mission is unwavering and is at the heart of our decision to pursue this next chapter for USCII. We are thrilled to have a partner in TILT who is ready to build on the demonstrated success of USCII, allowing it to grow even further to the benefit of its users, and we’re excited to have a seat at the table for this next chapter in the growth of USCII.”
At Heron, the USCII has been overseen by an advisory committee of professionals in pertinent fields, including but not limited to sustainable investing, philanthropy, and social data. TILT expects to maintain the Index’s core qualities: diversification (holding 230-250 issues), a commitment to multi-capital (net contribution) factors, and a focus on community well-being (an emphasis on human and civic capital returns).
“We are honored to partner with Heron to advance mission-aligned investing in the U.S. and globally. We welcome continued collaboration with Heron and other investors who seek to go beyond the scope of ESG investing to achieve non-financial returns alongside financial returns,” said Tim Ferguson, CEO of TILT. “The USCII provides us with a powerful benchmark to develop customized solutions for investors who want to explore multi-capital investing in the public equity markets.”
Luther M. Ragin Jr. is the former Vice President for Investments at the Heron Foundation who played a key role in the design and launch of the original USCII. Said Ragin, “The partnership affords an opportunity to grow the volume of assets invested with a focus on community impact and potentially increases the ability of investors to influence corporate engagement in communities for the better.”
About the Heron Foundation:
Established in 1992, Heron’s mission is to help people and communities help themselves. The foundation works with a diverse set of investment strategies focused on fostering economic innovations and practices that lead to long-term opportunity and prosperity for all. Internally, investing and grantmaking operations are combined to foster a stronger multi-capital approach and better mission alignment of its communities practice and endowment management.
About TILT:
TILT is an SEC-registered investment advisor established to support clients who want to earn both financial and non-financial returns. TILT has partnered with Heron over several years to develop a multi-stakeholder investment philosophy and a multi-stakeholder investment process. We are working with clients to invest their financial capital across multiple asset classes to align their investment returns with their unique goals and constraints.
If you would like information about the USCII or about TILT, please contact info@tiltinvestments.com.
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