New York, NY – Amy Domini, founder and CEO of Domini Social Investments, received the Natio nal Award for Neighborhood Leadership yesterday for her work on behalf of community investing. The award is presented each year by the National Neighborhood Coalition.
Previous winners of the National Award for Neighborhood Leadership are Bill Gates Sr., Chuck Collins of United for a Fair Economy, Ray Suarez of PBS and NPR, and former Cabinet secretary Henry Cisneros.
Under Amy Domini’s leadership, Domini Social Investments has created financial products that have helped break down the barriers preventing mainstream investors from directing capital to underserved communities. The Domini Social Bond Fund invests in bonds and other securities that help residents of underserved urban and rural communities to start their own businesses and buy their own homes. T he Domini Money Market Account places investors’ funds with ShoreBank, the nation’s first bank to commit itse lf to rebuilding distressed communities.
Both products help low-income individuals and institutions finance first-time home purchases, create daycare centers, and start up and expand family businesses. In addition, they support institutions that provide valuable training and empowerment to those who have not previously dealt with mainstream financial institutions.
“It is a great honor to be recognized by the National Neighborhood Coalition,” Ms. Domini said. “Community investing is an essential element of investing with one’s values, and the Coalition’s efforts have helped raise public awareness o f how much can be done on a local level.”
About Amy Domini
Ms. Domini’s involvement in social investing began in 1980 when she was working as a stockbroker. One of her clients, an avid birdwatcher, was uncomfortable i nvesting in a paper company that used a highly toxic defoliant that endangered birds. Other investors wanted to avoid the stocks of tobacco companies and defense contractors.
Ms. Domini soon became a passionate proponent of socially responsible investing. In 1990, she and her colleagues introduced the Domini 400 Social Index, an index of 400 primarily large-cap U.S. corporations selected according to a wide range of social and environmental criteria. Over time, the index pro vided a track record that demonstrated that it is possible to achieve competitive returns while incorporating social and environmental standards into the investment process. Ms. Domini then founded the Domini Social Equity Fund and later launched Domini Social Investments.
Ms. Domini serves on the board of the Church Pension Fund of the Episcopal Church in America. She is a past board member of the National Association of Community Development Loan Funds, an organization whose members work to create funds for grassroots economic development loans, and the Interfaith Center on Corporate Responsibility, the major sponsor of shareholder actions. She is a member of the Boston Security Analysts Society.
About Domini Social Investments
Domini Social Investments manages more than $1.8 billion in assets for individual and institutional mutual fund investors seeking to create positive change in society by integrating social and environmental criteria into their investment decisions. Its flagship fund, the Domini Social Equity Fund (NASDQ: DSEFX), is the first and largest index fund to use social, environmental, and corporate governance standards. The Fund seeks to include companies with positive records in community involvement, the environment, diversity, and employee relations, and excludes companies deriving significant revenues from alcohol, tobacco, gambling, nuclear power, and weapons contracting. In addition to the Domini Social Equity Fund, the company also offers the intermediate-ter m Domini Social Bond Fund (NASDQ: DSBFX) and an FDIC-insured money market account (in partnership with ShoreBank), both of which focus on community economic development.
Additional information on Domini Social Investments is available on the firm’s website,www.domini.com . Domini’s Proxy Voting Guidelines & Procedures booklet is also available free of charge by calling 1-800-762-6814.
About the National Neighborhood Coalition
The National Neighborhood Coalition (NNC) provides common ground for the nation’s leading advocates for lower-income neighborhoods. It is where national and local leaders come together to generate the resources, public policies, an d solution-oriented strategies that strengthen and sustain neighborhoods. NNC’s broad network of more than one million members affords groups a voice in Washi ngton, D.C.; opens doors to partnerships among nonprofits and commercial entities; and keeps low-income problems and solutions on the agenda for key policymakers. For over 25 years, NNC has stimulated collaboration and innovation.