Zenith will align the Philadelphia-based Foundations’ long-term investments with its mission, values, and grant-making.
PHILADELPHIA, Pa – September 19, 2023 – Zenith Wealth Partners (Zenith), a 100% minority-owned, fee-only independent RIA, announced its partnerships with the Scattergood Foundation and the Patricia Kind Family Foundation (“the Foundations”) to align their endowed, long-term investments with their missions to support initiatives disrupting the current behavioral health system and poverty alleviation, respectively.
Through this partnership, Zenith will work with both foundations to execute their investment policy statement’s asset allocation and support a healthy rate of return for the endowment, while incorporating more diverse asset management firms and mission-related investment opportunities.
The Foundations chose Zenith because of the firm’s expert knowledge of investment policy, local investment opportunities, and extensive research on minority-owned asset managers. The firms have a shared interest in building a stronger, more effective, compassionate, and inclusive society with an emphasis on diversity, equity, and inclusion initiatives.
“As we partner with Zenith Wealth Partners, led by Jason Ray, we renew our commitment to using all of our assets to support our foundation mission. By choosing to place Patricia Kind Family Foundation endowment assets with Zenith Wealth Partners, a black-owned and managed firm, we are supporting increased opportunity for managers who have been excluded or overlooked in the past” said Valerie Kind-Rubin, Managing Trustee of the Patrica Kind Family Foundation. “Through strategic investments aligned with our mission, values, and grant-making, we aim to break down barriers and uplift the lives of those in need. By fostering diversity, equity, and inclusion in our investment approach, we reinforce our dedication to building a more compassionate and inclusive society.”
“Scattergood and Kind are ideal partners for us because of their priority to support organizations that both serve and are led by Black, Indigenous, and people of color. The Foundations’ bold leadership and willingness to be an early adopter of a more diverse and regionally-invested investment policy directly align with our mission to amplify the work of local, pivotal, social service institutions,” said Jason Ray, Founder and Investment Director of Zenith Wealth Partners. “Working together, we hope to break the myth that locally-sourced, mission-aligned, long-term investments are concessionary.”
Zenith has already invested considerable resources as part of its proprietary PEAK approach, which identifies long-term investments tailorable specifically to Scattergood’s DE&I goals.
“We’ve been researching how to capitalize on the full potential of our foundation, as showcased in our program-related investments directly tailored to our philanthropic goals. Partnering with Zenith, we can broaden our mission of helping others succeed by extending it to all aspects of our business,” said Joe Pyle, President of the Scattergood Foundation. “We aspire to serve as a model for similar organizations, and we know that investment opportunities aligned with our values exist and we appreciate Zenith’s commitment to helping us close that gap.”
To learn more about Zenith’s work, visit: www.networthzenith.com
About Zenith Wealth Partners
Zenith Wealth Partners is a fee-only, fiduciary investment management and financial planning firm overseeing $30 million in assets under management. Zenith Wealth Partners is on a mission to combat racial, age-based, and gender wealth inequality, making financial planning and wealth management accessible to all by delivering comprehensive, high quality, and accessible advice to individuals and organizations. Zenith Wealth Partners anchors its work in genuinely understanding the needs and values of each client and offering tailored solutions to help them reach their desired financial goals. Zenith Solutions Inc. is an Investment Advisor registered with the State of Pennsylvania.
Learn more at www.networthzenith.com
About Scattergood Foundation
The Scattergood Foundation believes major disruption is needed to build a stronger, more effective, compassionate, and inclusive society where behavioral health is central. We approach our work with humility and strive to share power responsibly while being unrelenting advocates for practices that advance equity for all. At the Foundation, we THINK, DO, and SUPPORT in order to shift the paradigm and practice for behavioral health, and recognize the unique spark and basic dignity in every human.
Learn more at www.scattergoodfoundation.org
About Patricia Kind Family Foundation
The Patricia Kind Family Foundation, a private, family-managed, not-for-profit philanthropic organization, was established in 1996 with a gift from the estates of Hedwig and Arnold Louis van Ameringen, parents of Patricia Kind. The mission of the Foundation is to financially support Philadelphia organizations that help those struggling daily with the effects of poverty. This includes helping individuals and families obtain physical and mental health care and related human services, such as food, shelter, clothing, and education. The Foundation is interested in encouraging practical and caring solutions to community problems by supporting preventive and direct service efforts.
Learn more at: pkindfamilyfoundation.org
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