The Mary Reynolds Babcock Foundation was established in 1953 and, in its early days, supported Historically Black Colleges and Universities (HBCUs), grassroots advocacy groups, voter education, and government accountability efforts – a unique legacy for Southern family philanthropy.
Today, the Babcock Foundation’s mission is to help people and places move out of poverty and achieve greater social and economic justice. It works in 11 Southern states, supporting organizations and networks making progress along three interconnected pathways of change: economic opportunity, supportive policies and institutions, and democracy and civic engagement.
It is exploring new ways to amplify a broad range of voices and strengthen leaders who reflect the full diversity of the South’s demographics while also continuing some core approaches: centering communities in solutions, helping organizations build their capacity to do more, cultivating innovative partnerships, and advancing systems change with long-term resources.
The Foundation aims to embed racial equity and power building in all its work. It is committed to using all available tools, including grantmaking, investing, influencing, leveraging, communications, and learning to achieve the mission.
The Babcock Foundation has a new CEO, Flozell Daniels, Jr., a 13-member Board of Directors that provides oversight and strategic guidance to the CEO and the organization, 12 staff members, and over $200 million in assets.
The Foundation recently transitioned to a fully remote operating environment, enabling team members to work from anywhere in their 11-state Southeastern United States footprint, which includes: Alabama, Arkansas, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia. For additional information, please visit https://www.mrbf.org/.
In 2020, the Foundation established racial equity goals and has begun a strategic process to center racial equity in all aspects of its work, organizational strategies, structure, culture, practices, and investments. The investment portfolio includes below-market program-related investments, which support its mission in the South, and market-rate investments, including environmental, social, and governance factors, aligned with its values and adhering to the Investment Policy. The Foundation now seeks to embed racial equity into the investment strategy.
The newly created Impact Investment Officer position is an exciting opportunity for an individual committed to using capital creatively to improve the lives of people of color. Reporting to the Chief Finance and Operations Officer, the Impact Investment Officer will help reimagine, develop, and drive innovative approaches to use capital and markets to support power-building and racial justice in communities across the South.
- Ensure program-related and market-rate investments advance racial equity and the Foundation’s strategic goals:
- Source new investment opportunities
- Develop relationships with leaders in communities that have historically been denied access to capital
- Identify investment opportunities that shift power and capital to Black and brown communities and advance the Foundation’s mission of moving people and places out of poverty.
- Ensure alignment with racial equity goals and program strategy
- Manage relationships with the Foundation’s investment advisors in partnership with the Chief Finance and Operations Officer
- Coordinate due diligence of potential investments with investment advisors
- Coordinate the investment approval process
- Manage operations of the investment portfolio, including:
- Closing documents
- Capital calls and distributions
- Amendments, extensions
- Monitor investment portfolio
- Attend annual meetings of fund managers
- Review quarterly investment reports
- Build relationships with borrowers where necessary
- Act as staff liaison to the Investment Committee in partnership with the Chief Finance and Operations Officer
- Develop agendas for bi-monthly meetings
- Prepare meeting materials
- Regularly report on the impact and financial returns to the Investment Committee, Program Team, and Board of Directors
Learning and Influence
- Contribute to a shared environment of learning about racial equity and power building with the Chief Executive Officer, Chief Strategy Officer, Chief Equity Officer, and Program Team
- Share lessons learned from investment strategy with colleagues, Investment Committee, and the broader field
- Support larger influence strategy to shift asset allocators’ behaviors and investment approaches in the philanthropic and impact investing field in applying a racial equity lens to investment strategy.
- Contribute to external Foundation communications in service of our mission, influence, and transparency goals, in collaboration with the Communications Director
- Participate in strategic planning with internal leadership and Investment Committee to revise and update investment policies, practices, and goals.
- Draw from lessons learned to evolve the strategy to have the most significant impact in communities
CANDIDATE QUALIFICATIONS AND EXPERIENCE
- Five or more years of professional experience and expertise in community development finance, private equity, venture capital, impact investing, and alternative investment approaches
- Exposure or experience in conducting due diligence, as well as structuring, underwriting, and closing transactions
- Experience managing and administering systems and processes related to investment portfolio management and reporting
- Track record of building relationships and fostering collaboration among diverse people to accomplish goals
- Personal commitment to race and gender equity that is evidenced by respect for the dignity and abilities of all people
- Deep knowledge of the Southern United States and its diverse communities
- Ability to travel
COMPETENCIES AND ATTRIBUTES
The ideal candidate will have:
- A demonstrated commitment to the Mary Reynolds Babcock Foundation’s mission and values
- Strong strategic and analytical skills, combined with a high level of organization and attention to detail
- Superior interpersonal skills, including the ability to manage and work in teams and interact constructively with diverse constituents
- Strong communication skills, including excellent presentation skills
- Demonstrated ability to synthesize and communicate complex issues
- Technology savvy with the capability to learn new tools quickly
- Collegial decision-making, coupled with an ability to work independently, flexibly, and with good humor
- Intellectual curiosity, creative problem-solving ability, and sound judgment
How To Apply
COMPENSATION AND CULTURE
The target salary range for this position is $130,000 to $141,000, commensurate with training and experience. The Foundation offers generous benefits, including retirement contributions, health and dental coverage, and a flexible remote work environment.
The Foundation works to foster an equitable, inclusive, and supportive environment where all staff can thrive. The team pays careful attention to organizational culture, devoting time to reflection and relationship building, and closes for two weeks annually to enable team members to recharge without using vacation days.
We welcome candidates of all backgrounds, identities, and lived experiences to apply for this opportunity. For additional information, please contact: