Put Your Money Where Your Mission Is feat. Daniel Gould

[upbeat music] We have seen the largest transfer of wealth, $80 trillion in inflation-corrected numbers, from the working class to the 1%.

I don't think we should work to grow perpetually.

I think we should be mindful of the perpetual state that we need to be in to serve the communities we serve.

Coming into the last couple of years, where we're seeing the largest transfer of wealth enabled by our government from the poorest people in our country to the richest people in our country, this was a mission moment for us.

[upbeat music] Welcome, Break Fake Rules listeners.

I'm Communications Claire from the Stupski Foundation.

Today's episode is all about investments, endowments, and asking when is enough enough? Philanthropy runs on the belief that more is better.

More wealth, bigger donor-advised funds, growing endowments, bigger returns, when really, that belief is part of the problem.

Your co-hosts today are Glenn Galich, CEO of the Stupski Foundation, and Carmen Rojas, President and CEO of the Marguerite Casey Foundation.

They get into what fiduciary duty should really mean and what it looks like to back that up with real dollars, not just statements.

They're joined by Carmen's right hand, Daniel Gould, Vice President of Investments and Operations at the Marguerite Casey Foundation, to talk about the foundation's landmark decision to double its giving over the next decade.

Daniel explains how Marguerite Casey drew down its endowment responsibly and strategically, shifting from market-first thinking to mission-first investing and grant-making.

Together, they challenge the fake rules of wealth preservation and perpetual endowment growth to reimagine fiduciary duty in service of the needs of the moment, not the needs of the foundation.

Rule breakers, we're glad you're here.