A little over nine years ago, a small group of philanthropists in Manhattan decided it was time to do something to facilitate the efforts of people who wanted to make charitable contributions to the community, yet avoid the trouble and expense of establishing private funds or foundations. The result was the establishment, in August of 1999, of the Manhattan Community Foundation.
The government-backed Social Investment Research Council is newly formed to hatch practical insights into social investment market products, and the investors needed to finance them.