The Responsible Endowments Coalition (REC) was a left-of-center environmental, social and corporate governance (ESG) organization that monitored the ESG commitments of university endowments. In 2018, the organization ceased operations and was in part incorporated into the Action Center on Race and the Economy Institute. [1]
Environmentalism
In 2015 the Responsible Endowments Coalition, along with the Service Employees International Union (SEIU) and Croatan Institute, published a document titled “Action on Climate: A Guide for Fiduciaries.” The document pressed small and mid-sized institutional funds with between $300 million and $3 billion in assets to devote more resources to environmentalist causes and divest from oil and gas companies. [2]
At its height, the Responsible Endowments Coalition was active across 400 college campuses, actively advocating that university endowments divest from fossil fuels such as coal, oil, and natural gas. [3]
Opposition to Private Prisons
Responsible Endowments Coalition opposed and advocated for university endowments to divest from private prisons. [4] The organization was successful in pressuring Columbia University, the University of California System, and California State University – Los Angeles to divest from private prisons. [5]
Finances
In 2018 REC received $44,144 in total revenue,[6] incurred $39,351 in expenses,[7] and possessed $31,716 in net assets after accounting for all liabilities. [8]
Leadership
Annie McShiras was the chairman of the Responsible Endowments Coalition. [9] While sitting as chairman, McShiras was also an investment associate at a credit union. [10]