WFC is Aligning our Investments with Our Values: The Work has Just Begun

February 2026 — Moving the Needle // Woods Fund Chicago

Last year, Woods Fund Chicago leaned into the work of more rigorously aligning our investments with our values.

As we’ve documented here, over the past several years, much of our work has been about how to shift more money into our grantmaking, and how to make sure we’re using those funds as boldly and effectively as possible. We’ve continued to enact Trust Based Philanthropy, and have steadily increased our payout over the past six years. Across our 2025 grantmaking, we distributed $6 million: the largest amount in our foundation’s history.

And, while Woods Fund Chicago’s current 15% payout is three times the industry standard you’ll see referenced below, it’s still true that the majority of our funds are invested, not granted out. Like many organizations, WFC doesn’t have an in-house investment team: we rely on an external contractor — an Outsourced Chief Investment Officer — to guide our investing. In 2025, we began our work with Bivium Westfuller, a strategic alliance between two Black-owned investment firms — Bivium Capital Partners and Westfuller Advisors. BWF serves mission-driven organizations devoted to creating systemic change.

As we have increased our payout, much of our internal work has been about confronting the tension between preserving our corpus — and therefore the Fund’s continued ability to give — with the urgency of funding critical organizing now. Now, we’re dialing in on the investment side of our work, and ensuring that those assets support our core mission and values. To offer a window into this work in progress, we sat down with Westfuller Director and Client Portfolio Manager, Randall Strickland, for a 101. As Randall puts it, "If you're trying to save the people and planet [with your grantmaking] while hurting the people and planet with the 95% that you don't give away every year, then that is watering down your mission."

WFC: How are you thinking about investing differently than a traditional Investment team?

RS: Most small-to-mid-sized nonprofits lack internal investment teams, relying instead an Outsourced Chief Investment Officer (OCIO) like Bivium Westfuller. While a traditional OCIO focuses strictly on the financial longevity of its nonprofit clients, BWF applies a broader lens of sustainability.

We partner with many organizations deeply committed to advancing social justice. It is important to them that their endowments are mission-aligned beyond the typical 5% annual grant payout. As an OCIO, Bivium Westfuller bridges this gap by integrating a sustainability lens into standard investment management. We move beyond traditional metrics to mitigate exposure to harmful sectors, such as private prisons and fossil fuels, filtering out companies whose practices undermine the well-being of our communities and the environment. Further, research shows that companies with strong social and environmental practices can result in improved risk-adjusted financial returns.

WFC: So with a foundation, where the amount that they're able to give might be connected to the returns that they're getting back on their corpus, how do you balance maximized returns with more ethical investing?

The Woods Fund Chicago 2026 grantmaking cycle is open for new applicants! Woods Fund Chicago has separate application windows for new applicants and returning grantee partners.

⮕ New applicants: The application portal is open, and our deadline is fast approaching: new applications are due by 11:59 PM on Tuesday, March 10.

⮕ Returning grantee partners, save the date! You will be sent an Organizational Update form on Wednesday, April 1. The deadline for returning grantee partners is 11:59 PM on Thursday, April 30.

Learn more about our grants, what we're looking for, and how to apply at woodsfund.org/our-grants. For questions, reach out to the Grants and Administrative Manager Brittany Ward at brittany@woodsfund.org.

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We are thrilled to announce the 2025-2026 cohort of the Cultivate: Leadership Program, comprising visionary women and nonbinary leaders of color committed to social, economic, and racial justice. Since 2013, Cultivate has been committed in supporting changemakers across Chicago, championing causes like gender justice, racial equity, and more. Through fostering relationships and collaborations, the program strengthens movements for a just future. This six-month initiative supports participants' growth and reinforces diverse leadership pipelines.

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