After 20 years in business, Cogent Consulting converted to a Specific Benefit Corporation in 2018.
We are an independent, strategic, financial, and impact investing firm empowering
purpose-driven organizations. Impact investing is defined as “Investments made with the
intention to generate positive, measurable social and environmental impact alongside a financial
return” (Global Impact Investing Network).
We work with a diverse set of mission-driven investors and entrepreneurs through
evidence-based and actionable advice. Our work serves foundations, corporations, social
entrepreneurs, and impact-investing place-based ecosystems. Our clients include many
nonprofits: LISC Twin Cities & Duluth, Partnership in Property Commercial Land Trust, First
Children’s Finance, Greater Green Bay Community Foundation, Betterway Foundation, Ashoka,
Community Foundation of Greater Des Moines, and the Barra Foundation, to name a few. Please
see our website for more information: https://www.cogentconsulting.net/.
Pursuant to Section 304A.101 of the Minnesota Statutes, Cogent Consulting SBC pursues the
following benefit purpose as listed in its articles:
To empower purpose-driven organizations that drive positive social impact in their
communities.
Cogent Consulting, SBC accomplishes its specific benefit purpose with all of our clients and pro
bono work. Our work from the past year includes the following:
Despite many successes this year, Cogent encountered several challenges in most effectively
pursuing our specific benefit purpose.
a. The Coronavirus pandemic and consequent restrictive measures limited Cogent’s ability
to grow our network and disseminate information about the resources it offers.
(Conversely, however, the business world’s embrace of virtual communication has
enabled Cogent to acquire clients it otherwise wouldn’t have due to geographic distance).
b. Impact investing remains an evolving field. Individual investors are typically wary of
modifying their investment frameworks and thus tend to lack both the knowledge and
motivation to incorporate ESG values into their investment strategies. This is exacerbated by misinformation and political backlash targeting impact investing. Within endowment investing, there remains a continued focus on fiduciary duty without consideration for mission alignment. Non-profit organizations that do have social justice objectives often lack information about how they may pursue equity via investing in lieu of philanthropy. The future success of impact investing hinges on investors and organizations being willing to adapt and learn new practices.
c. There is a general lack of transparency and information is poorly shared among organizations involved in impact investing. Even organizations that have incorporated ESG values into their investment portfolios seldom publicly share information about investment standards, strategies, or impact.
“Silence in the face of evil is itself evil: God will not hold us guiltless. Not to speak is to speak. Not to act is to act.”― Dietrich Bonhoeffer
This powerful quote is how Minnesota’s Attorney General Keith Ellison opened his keynote address at the Minnesota Council on Foundations annual conference last month. As Americans, we stand for individual freedom, the right to pursue happiness, and the dignity of each person. These fundamental values are under assault. We need to muster our courage and act. Perhaps it’s reaching out to a friend with disabilities who is worried about funding cuts. Maybe it’s shopping and dining at non-traditional places and restaurants such as those found on Lake Street in Minneapolis. Or maybe it’s running for public office so we’ll have better leadership choices. Let me know what actions you’re taking in these fraught times.
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