Anti-Terror Investment Policy

There are many organizations and foundations that state that they will not directly invest in companies that engage in certain activities within the countries of Iran and Sudan. We felt that we wanted more, and through the leadership of the Jewish Federations of our region, TOP established an anti-terror investment policy that screens out “scrutinized” companies from our portfolio.

We base our practice on the 2007 “Protecting Florida’s Investment” act. On a quarterly basis, the State of Florida reviews international and US-based companies that engage in specific activities with these two countries and distributes a list of companies that are new to the screening, that have dropped off, and that maintain a presence on the list. We analyze this data together with Goldman Sachs and take steps necessary to ensure that our portfolio is not directly or indirectly holding interests in any of these scrutinized companies.

In an analysis of the impact on the investment returns, we found that in our first year the returns were slightly less (under half of one percent) than if these screens were not placed on our investments.

We maintain our commitment to stop our community resources from supporting terrorism, while focusing on managing competitive returns.