(This is the second in a series of three articles highlighting the work of the Portfolio Advisory Board in recognition of its 30th anniversary in 2005.)

Since its establishment in 1974, the Portfolio Advisory Board (PAB) has remained faithful to its commitment to be socially responsible in the use of individual and corporate financial resources. As the needs of the community and the world at-large become more pressing, PAB continues to foster economic justice and support endeavors that enhance the lives of the poor and marginalized.

PAB monitors the Adrian Dominican Sisters' corporate investments and through corporate responsibility activities, strives to reverse situations of injustice and advocates for peace, justice and the integrity of creation. Through its alternative investments, PAB creates economic relationships with low-income people which help them to become self-determining and to improve their communities.

PAB staff from left: Lura Mack, Sister Annette Sinagra, Patti McLaughlin and Margaret Weber.

"We have a large investment portfolio, and we strongly believe that if we're going to make money on our investments, we have to be as socially and corporately responsible as we can be," said Annette Sinagra, OP, Corporate Responsibility Analyst. "Otherwise, we're not acting in justice with our gospel and human values."

Sister Annette's corporate responsibility initiatives involve access to capital and economic and environmental sustainability, as well as human rights. Margaret Weber, Coordinator of Corporate Responsibility, focuses on access to health care and the rising cost of prescription drugs, along with the impact of genetically engineered food on health and the environment. The pair, along with the Corporate Responsibility Committee, monitor corporate holdings, attend shareholder meetings, file shareholder resolutions, and dialogue with corporate officials and other shareholders.

"In the broadest of strokes, what we're looking for is transparency about what the corporations are doing and accountability for those actions," Margaret explained.

The Adrian Dominican Sisters are members of the Interfaith Center on Corporate Responsibility (ICCR) and both Sister Annette and Margaret said the group is instrumental in their being able to carry out the work of shareholder activism. Oftentimes, ICCR is one of the first groups to raise concerns about a corporation's practices, paving the way for other organizations to get on board and support the issue. "One of the good things about working with ICCR is that its members have billions of investment dollars, so companies have to take note and pay attention," Sister Annette said. "Sustainability and human rights are examples where corporations have modified their behavior due to religious investor advocates. Our corporate responsibility work on access to capital interfaces with the work of alternative investing by addressing predatory lending, supporting the Community Reinvestment Act and advocating for affordable housing."

Indeed, hand-in-hand with corporate responsibility is PAB's work with alternative investing. The Alternative Investment Committee works to provide investments and loans to community-based non-profit organizations, not individuals, that demonstrate a commitment to social justice through alternative investment endeavors. The goal is to help create opportunities for sustainable jobs with livable wages and affordable housing for those marginalized by the larger economy.

"Our target populations are minorities, women and low-income individuals," explained Lura Mack, Coordinator of Alternative Investments and Administration. "The model for alternative investing is one of building. Through community investing we're helping to build on behalf of those people and families excluded in some way by the greater society. We are enabling them to build their personal skills and capabilities, while building self-esteem and personal dignity, and ultimately building and strengthening families and community stability."

One of PAB's alternative investments is the Cooperative Fund of New England, a socially responsible lending organization that supports cooperatives such as the Rising Tide Market.

PAB's alternative investments have grown from four loans in 1978 to 67 in 2005. Currently, the average loan is $40,000 and has an interest rate of one to four percent. The loan fund is now at $3 million and will be incrementally increased over the next five years. "A key factor is that the alternative investment program is not a give-away program, it's not charity," Lura emphasized. "It's an investment in families, in communities and in our world. That fact alone is of great significance and is often misunderstood."

One of PAB's goals for the next three years (2005 to 2008) is to further educate Congregation members, associates and others on PAB's overall ministry. PAB also seeks to collaborate with others in shaping structures and systems that are open and just, and consciously nurture the interconnectedness of the Earth community - values that are aligned with the Congregation's Vision and resonate with the PAB members.

"What we do as a team really affects people's lives," said Patti McLaughlin, Executive Assistant. "Before I started working with PAB, I never knew this type of work even existed. I had always worked in the corporate sector, where it was always about the bottom line. I look at the world now with a different lens, and that comes from working with alternative investments and voting proxies on behalf of corporate responsibility."

"I want a better world for my kids and grandkids, and doing this work is living toward that vision," Margaret added. "I consider myself to be extremely fortunate to be paid to do what I like, and with a very high level of trust. The trust that is given to me to represent the Congregation on an issue publicly is just invaluable."