Sisters of St. Joseph of the Third Order of St. Francis.

The funds allocated for alternative investments will most frequently be used in low-interest, long-term loans for the development of peoples leading to self-reliance, economic justice and people's participation in their own economic growth. The social encyclicals of the Church and the Bishops' Pastoral on Economics call us to the fact that the poor and helpless have a special claim to our financial resources. Through the Sisters of St. Joseph of the Third Order of St. Francis Statement of Direction, we seek to identify with the minores, the little, the poor and the unwanted. We have chosen to stand in solidarity with those who are less fortunate than we. The social justice stewardship stance of the Gospel is our guide.

Rationale

To be in solidarity with the poor we are willing to loan out a portion of our money at a low rate of return.
We prefer to collaborate with other groups where research and technical assistance are provided.
We are willing to serve as members of the boards of the organizations where our money is invested so that we can influence decisions as to how our money is used.

Criteria

We choose to invest in those organization(s) and/or institution(s) and/or project(s):

Where the oppressed have a voice in or benefit from the project, organization or institution.
Where financing from regular sources at reasonable rates is not available.
Where these is a good probability of financial viability and stability.
Where a high percentage of those benefiting from the project, organization or institution are involuntarily poor and/or oppressed.
Where activities will directly benefit a large number of people rather than just a few individuals.
Where the goal is to provide technical assistance, community services, and/or programs that assist the economically disadvantaged people.
Where management practices and delivery of services are non-discriminating (Equal Employment Opportunity).
Where jobs are provided for low income persons.
Where the return on investment to the Sisters of St. Joseph of the Third Order of St. Francis is at least 2/3 of the going rate.
Where the project emphasizes ecologically sound practices.

In addition, the following guidelines are used in the screening process:

The geographic areas where Sisters of St. Joseph of the Third Order of St. Francis are involved in ministry will be given preference (see Facts About Us).
If loans are made, loan agreements are required.
Not more than $50,000 will be invested in any one project, organization or institution.
At least 70% of the criteria are to be met.

Procedure

The applicants are screened according to criteria received on the data form.
All recommendations regarding alternative investments are made to the Sisters of St. Joseph of the Third Order of St. Francis Central Board by the Committee for Socially Responsible Investments. The Central Board forwards their decision to the SSJ-TOSF Finance Director and to the chairperson of the committee.
The Committee for Socially Responsible Investments is the monitoring agent of these investments with accountability to the Central Board.
The income from the funds is deposited into the common fund.
All alternative investments are reviewed annually by the Committee for Socially Responsible Investments.

Sister Dorothy Pagosa
Office for Social Justice
Sisters of St. Joseph, TOSF
205 W. Monroe
Chicago, IL 60606
(312) 641-5151
e-mail: dpagosa@claret.org