Investor Stories: Religious Institutions
Building a ministry of economic justice through TRF – Sisters of St. Francis
In the mid-80’s, TRF founder Jeremy Nowak discovered that the Sisters of St. Francis of Philadelphia (a congregation of 700 women religious based in Aston, Pennsylvania) and TRF shared a mission of social change; both had provided financial resources to an organization serving the homeless.
He also learned that the Sisters maintained a portfolio of community investments. In 1985, the congregation became one of TRF's first religious institutional investors, and provided introductions that helped to build TRF's investor base in those early days.
Their willingness to take a risk on the unproven TRF was an inspiration not only to the small TRF staff of the time, but also to the faith community, which responded bountifully. There are now over 100 religious institutions (representing many denominations), which accomplish a ministry of economic justice by providing investments to the TRF Loan Fund.
According to Sister Nora Nash, Director of Corporate Social Responsibility, “As Sisters of St. Francis of Philadelphia, we stand behind TRF's commitment to human dignity as we both pursue many and various ways of alleviating powerlessness, cultural disparagement and exploitation while using our resources to promote the common good of all.”
Since their founding in 1855 in Philadelphia, the Sisters of St. Francis have developed a comprehensive ministry of prayer, education, health and pastoral care, leadership and advocacy in 25 U.S. states and abroad. Their deeply spiritual approach to societal change demonstrates that the strategic use of finances yields rich social dividends, in keeping with a long tradition of promoting justice, peace and reconciliation.
Donna Roccio from the Sisters of St. Francis with participants from the Peacemakers Program, at the Christ Our King School in Wilmington, Delaware, that teaches students that nonviolent behavior is expected of them both in and out of the classroom.