Non-profit

Investor Advocates for Social Justice

Location:

MONTCLAIR, NJ

Tax ID:

13-3600917

Tax-Exempt Status:

501(c)(3)

Budget (2018):

Revenue: $269,129
Expenses: $235,916
Assets: $169,057

Formation:

1975

Director:

Mary Beth Gallagher

Investor Advocates for Social Justice (IASJ, formerly the Tri-State Coalition for Responsible Investment) is a left-of-center shareholder advocacy organization which promotes a left-of-center environmental, social, and corporate governance (ESG) agenda. In recent years, most of IASJ’s shareholder advocacy has focused on promoting left-of-center labor policy.[1]

Overview

In 1975, Catholic congregations involved in the movement to encourage companies to divest from apartheid South Africa formed the Tri-State Coalition for Responsible Investment (Tri-CRI). For the next several decades, Tri-CRI advocated for left-of-center environmental, social, and corporate governance (ESG) objectives, expanding to form a number of Coalitions for Responsible Investment (CRI) organizations across the country.[2]

In fall 2019, Tri-CRI broke off from other regional CRI affiliates and rebranded as Investor Advocates for Social Justice (IASJ). The firm manages ESG investment portfolios and engages in shareholder advocacy that supports left-of-center ESG objectives.[3]

Shareholder Activism

IASJ has become known for its left-of-center shareholder advocacy work. The organization uses proxy voting and shareholder initiatives to convince companies to adopt left-of-center policies on the environment, labor policy, and immigration issues. Aside from these core issues, IASJ has also used its influence to support left-of-center shareholder proposals on water-related issues, gun control, corporate governance, and corporate political spending.[4]

In January 2021, the outgoing Trump administration implemented a rule which sought to constrain the ability of private retirement fund managers to vote on shareholder resolutions that impact company behavior. IASJ came out against the rule, claiming that it would reduce corporate accountability.[5]

Labor Policy

In recent years, IASJ has focused much of its efforts on labor policy, especially in the automobile industry. IASJ has organized a proxy voting campaign called “Shifting Gears” which tries to force automobile manufacturers to source raw materials and parts from companies that do not engage in child labor and forced labor. The campaign also demand that automobile manufacturers implement higher wages and stronger worker protections across their supply chains. The campaign has targeted some of the largest automobile manufacturers in the world, including the Nissan Motor Company, Ford Motor Company, General Motors, Fiat Chrysler, and Toyota Motor Corporation.[6]

In late 2020 and early 2021, IASJ targeted Wendy’s with a proposal to force the company to increase disclosures regarding worker protections. IASJ filed a resolution asking Wendy’s to issue a report on worker protections related to COVID-19 and to shame the company for not joining the Fair Food Program, a left-of-center coalition.[7]

In January 2021, IASJ filed a shareholder proposal at Tyson Foods criticizing the company for its alleged lack of transparency regarding the company’s human rights record, especially during the COVID-19 pandemic. The proposal aimed to force the company to adopt increased paid sick leave, social distancing, and contract tracing procedures.[8] [9] In March 2021, Tyson Foods rejected the proposal to release a “human rights due diligence report” to report on worker treatment during the pandemic, noting that it already had an audit program in place for a third party to come in and examine working conditions.[10]

In May 2021, IASJ supported a series of shareholder proposals at Amazon, including a proposal to commission an independent study of Amazon’s facial recognition program, Rekognition, to assess whether it could violate privacy or civil rights. IASJ also supported a shareholder proposal at Amazon to conduct a diversity audit.[11] In 2020, IASJ officials praised Amazon’s decision to bar police officers from using the software, calling it necessary in the “crisis of police brutality in the US.”[12]

Environmentalism and Immigration

IASJ has supported environmentalist proposals in the past, seeking to force firms to reduce carbon dioxide emissions and to promote “environmental justice.” IASJ has targeted chemical manufacturers, utilities, and mining companies in order to pressure them to adopt environmentalist policies and increase transparency surrounding their environmental impacts.[13]

The organization also a strong focus on immigration issues. IASJ has promoted efforts to reduce the cooperation of private companies with immigration enforcement, urging companies to cancel their government contracts. Targeted companies include J.P. Morgan Chase, Wells Fargo, Bank of America, Amazon, and Microsoft, companies that contract with U.S. Immigration and Customs Enforcement (ICE) or its vendors. IASJ also urges companies to hire more immigrants and refugees.[14]

Leadership

Mary Beth Gallagher works as the executive director of IASJ. She has been involved with the organization since July 2013 and previously worked at the left-of-center Robert F. Kennedy Center for Justice and Human Rights. She also worked for the United Nations (UN) in Haiti and as a Peace Corps volunteer.[15]

Gina Falada works as the IASJ senior program. She leads the Shifting Gears initiative and many of IASJ’s other programs. Previously, she worked for Oxfam.[16]

Financials

In 2019, IASJ reported $250,597 in revenue and $245,175 in expenses. IASJ also reported $114,434 in net assets.[17]

References

  1. Maiden, Ben. “Wendy’s Faces Supply Chain Safety Shareholder Proposal.” Corporate Secretary, May 7, 2021. https://www.corporatesecretary.com/articles/esg/32504/wendy%E2%80%99s-faces-supply-chain-safety-shareholder-proposal. ^
  2. “History.” Investor Advocates for Social Justice, February 28, 2020. https://iasj.org/history/. ^
  3. “About Shareholder Advocacy.” Investor Advocates for Social Justice, October 21, 2019. https://iasj.org/about ^
  4.   “More Issues”. 2019. Investor Advocates For Social Justice. Accessed December 23. https://iasj.org/more-issues/. ^
  5. Arnsdorf, Isaac, Lydia DePillis, Dara Lind, Lisa Song, Moiz Syed, and Zipporah Osei. “Tracking the Trump Administration’s ‘Midnight Regulations.’” ProPublica. Pro Publica Inc., November 25, 2020. https://projects.propublica.org/trump-midnight-regulations/. ^
  6. “Shifting Gears Campaign”. 2019. Investor Advocates For Social Justice. Accessed December 23. https://iasj.org/shifting-gears-campaign/. ^
  7. Maiden, Ben. “Wendy’s Faces Supply Chain Safety Shareholder Proposal.” Corporate Secretary, May 7, 2021. https://www.corporatesecretary.com/articles/esg/32504/wendy%E2%80%99s-faces-supply-chain-safety-shareholder-proposal. ^
  8. Min, Sarah. “NYC Comptroller Calls for SEC to Investigate Tyson.” Chief Investment Officer, January 19, 2021. https://www.ai-cio.com/news/nyc-comptroller-calls-sec-investigate-tyson/ ^
  9. Weber, Felicitas. “The Tyson Foods AGM: an Example of How Shareholder Transparency on Voting on Social Issues Matters.” Responsible Investor, February 12, 2021. https://www.responsible-investor.com/articles/the-tyson-foods-agm-an-example-of-how-shareholder-transparency-on-voting-on-social-issues-matters. ^
  10. Demetrekakas, Pan. “Tyson Foods Rejects Call for Worker Welfare Report.” Food Processing. Putnam Media, March 2, 2021. https://www.foodprocessing.com/industrynews/2021/tyson-foods-rejects-call-for-worker-welfare-report/. ^
  11. Klar, Rebecca. “Tech Giants Face Rising Pressure from Shareholder Activists.” TheHill. The Hill, May 26, 2021. https://thehill.com/policy/technology/555420-tech-giants-face-rising-pressure-from-shareholder-activists ^
  12. Lee, Dave. “Amazon Bars Police from Using Its Facial Recognition Technology.” Financial Times. Financial Times, June 11, 2020. https://www.ft.com/content/9864f695-59a9-4f59-a722-183962bb42e9. ^
  13.   “Climate & Environmental Justice”. 2019. Investor Advocates For Social Justice. Accessed December 23. https://iasj.org/climate-environmental-justice/. ^
  14.   “Immigrants’ Rights & Racial Justice”. 2019. Investor Advocates For Social Justice. Accessed December 23. https://iasj.org/immigration/. ^
  15.    “Staff”. 2019. Investor Advocates For Social Justice. Accessed December 23. https://iasj.org/staff/. ^
  16. “Staff”. 2019. Investor Advocates For Social Justice. Accessed December 23. https://iasj.org/staff/. ^
  17. “Tri State Coalition for Responsible Investment.” Return of Organization Exempt from Income Tax, Form 990, 2019. Part I. ^
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Nonprofit Information

  • Accounting Period: June - May
  • Tax Exemption Received: March 1, 1946

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2018 Jun Form 990 $269,129 $235,916 $169,057 $32,830 N $185,310 $82,512 $1,307 $0 PDF
    2017 Jun Form 990 $256,701 $278,478 $142,061 $34,262 N $155,818 $99,196 $1,687 $0 PDF
    2016 Jun Form 990 $275,230 $288,216 $206,833 $40,518 N $182,650 $90,781 $1,799 $0 PDF
    2015 Jun Form 990 $268,071 $265,027 $217,165 $31,648 N $91,251 $175,292 $1,528 $0 PDF
    2014 Jun Form 990 $305,403 $241,798 $212,576 $30,060 N $188,000 $115,995 $1,408 $0 PDF
    2013 Jun Form 990 $280,669 $212,314 $148,971 $30,060 N $141,739 $137,235 $1,695 $0 PDF
    2012 Jun Form 990 $240,747 $200,312 $80,616 $30,060 N $118,859 $119,356 $2,532 $0
    2011 Jun Form 990EZ $127,585 $186,221 $40,034 $30,163 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Investor Advocates for Social Justice

    40 S FULLERTON AVE
    MONTCLAIR, NJ 07042-3357