Invesment Policy Statement (McKnight Foundation)

The Board of Directors (the “Board”) of the McKnight Foundation is responsible for the development and periodic review of the Foundation’s long-term financial objectives and the investment and spending policy for the Foundation’s Endowment. The Board seeks to invest the Endowment to facilitate the Foundation’s charitable work in perpetuity. It also seeks to more fully leverage its resource base on behalf of its mission while maintaining its longterm, prudent approach to asset management.

For purposes of this policy, the Endowment is divided into Corpus and Carve Out. The
Carve Out is the 10% of the Endowment that the Board has identified for its Impact
Investing Program. The Corpus is the remainder of the Endowment.
The Board has delegated responsibility for oversight of the Corpus to the Investment
Committee (the “IC”) and oversight of the Carve Out to the Mission Investment
Committee (the “MIC” and together with the IC, the “Committees”).

The Foundation has an Impact Investing Program that aims to prudently leverage the
Foundation’s investment assets in order to support its mission, enhance its credible
influence, drive programmatic learning, and impact key philanthropic priorities. The
Impact Investing Program is not tied to one philanthropic program or target objective.
Rather, through the construction and execution of the program, the Foundation seeks to use its investment tools to support multiple goals.

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