In this Utah Grantmakers Alliance session, AJL Foundation Co-Executive Director Kristi Petrie talks impact investing — what it looks like in practice, and why it belongs at the center of a foundation's strategy rather than at the edges of it.
The core message: a foundation's mission shouldn't stop at its grantmaking. At AJL, positive social impact and financial return are treated as equally weighted goals, guiding a portfolio strategy built to avoid harm, benefit communities, and contribute to real solutions, all while pursuing strong returns. It's an approach that asks every dollar in the portfolio to work toward the same purpose as every dollar given away.
Throughout the conversation, Kristi shares how AJL puts that philosophy into practice through mission-aligned portfolio strategy, integrated ESG criteria, transparent quarterly impact and financial reporting, and active use of shareholder voice through proxy voting and resolutions. Together, these tools reflect a field-building approach to impact investing that is grounded in accountability to the communities AJL serves and a broader commitment to people, planet, and profit.
Whether you're new to impact investing or looking to deepen your foundation's practice, Kristi's insights offer a practical, values-driven roadmap for aligning capital with mission.
Watch the full session: Exploring Impact Investing with the AJL Foundation
Supporting resources from the conversation
Where the wealth comes from…
The AJL Foundation founding family held the patents for the recipes for beloved candies created under the direction of Menlo F. Smith, CEO of Sunline Inc. in 1962. The company was originally known for producing Pixy Stix and Lik-M-Aid (Fun Dip) products. The wealth was generated when the patents were sold.
- Meet The St. Louis Candymaker Who Brought Us Pixy Stix, SweeTarts And Nerds | STLPR
- History of SweetTARTS - History of Candy
The traditional private foundation model…
- If Our Investments Undermine Our Mission, What Are We Really Funding? - Exponent Philanthropy
- Op-Ed: Foundations Need to Put Our Money Where Our Mission Is | Denver Westword
- Foundations of Colorado
On participatory grantmaking…
- AJL's Participatory Grantmaking
- AJL Foundation: Shifting Decision-making to Affected Communities through Participatory Grantmaking
- Reflections on Participatory Grantmaking
- (Evaluation Report) Community Love, Power and Wisdom: Learning from AJL Foundation's Shift to Participatory Grantmaking
On direct investments and program-related investments…
- AJL’s Direct Investments
- Program Related Investments with AJL
- Guaranteeing Impact: The Paycheck Protection Program Credit Facility Program Related Investment
- Supporting Black Women Entrepreneurs: The Sistahbiz Loan Fund
- Unmasking Opportunity Amid the COVID-19 Pandemic: The Knotty Tie Co. Program Related Investment
On impact investing…
- Our Evolved Investment Policy Statement: From ESG Integration to System-level Investing
- Impact Investing
- AJL Foundation’s Q2 2026 Impact and Financial Performance
- Impact Investing: AJL's Journey, Timeline and Resources
- Cash for Impact (Native American Bank and StoneCastle - Depository Institutions)
- Diverse Investing Collective Toolkit
- AJL Foundation Achieves a Platinum Rating Through the Endowment Impact Benchmark
- Syntrinsic - An IMA Company
- Aligning Our Investments With Our Mission: Why AJL Transitioned Our Public Equities from Vanguard to Ethic
On shareholder engagement…
- Harnessing Shareholder Power in Colorado: A Place-Based Model for Philanthropic, Investor and Corporate Accountability — As You Sow
- As You Sow Report Cards: Racial Justice, Environmental Justice, Workplace Equity
- Shareholder Engagement: A Powerful (and Underused) Tool for Community Change
- As You Sow RJ Scorecard CO Companies in Large Cap 1000 Report
- Interfaith Center on Corporate Responsibility
- Catholic nuns and shareholder engagement: Why these nuns have filed more than 350 shareholder resolutions and Sisters use corporate investments to push for reform - U.S. Catholic
- Shareholder Engagement Project
- Adasina Social Capital
JBS
- It’s Our Fiduciary Duty — and Mission-Aligned — for AJL Foundation to Stand with JBS Workers as JBS Shareholders as They Strike
- Corruption and deforestation concerns cloud Brazilian meat giant’s NYSE debut
- JBS SEC Letter from 15 U.S. Senators
- U.S. Department of Labor secures agreement with JBS USA, nation’s largest meat packing processor, to address child labor compliance
- JBS to pay $83.5 million in latest beef price-fixing settlement
- Farm bailout paid to Brazilian meat processor angers lawmakers
- Thousands of JBS workers go on strike at meatpacking facility in Greeley
- JBS Abuses Lead to New Colorado Law Governing Restroom Breaks and Personal Protective Equipment — UFCW Local 7
- Workers at JBS subsidiary plant prepared to strike after union vote | MEAT+POULTRY
- Immigrants on the Line - Reveal and Ted Genoways: Human Trafficking + the Meatpacking Industry - Food with Mark Bittman
- JBS USA accused of illegally releasing wastewater into Greeley-area waterway and 'Everyone in Colorado should be concerned about that water': Meat packing plant broke law for 5 yrs
Pilgrim’s Pride
- 2026 Resolution: Pilgrim's Pride Corp: Racial Equity Reporting — As You Sow (Resolution and Proxy Memo, Item #5)
- 2025 Resolution: Pilgrims Pride Corp: DEI Disclosure and Racial Justice Scorecard Results — As You Sow
- Pilgrim’s to pay $41.5 million in investor settlement | MEAT+POULTRY
- K&L Gates Secures US$10.5 Million Jury Verdict for Innovative Solutions
- Denver jury determines verdict in Pilgrim's Pride price-fixing case - Denver Business Journal
- Pilgrim's Pride pleads guilty to chicken price-fixing charge, to pay $107.9 million fine | Reuters
- Pilgrim’s Pride in $100 million settlement over chicken farmers' pay | Reuters
- We’re asking the SEC to investigate world's largest meat company's animal welfare promises | The Humane Society of the United States
- President Donald Trump Sets New Record with Inaugural Fund | Entrepreneur
SM Energy
- AJL Foundation Statement on the Proposed State Sunlight-Long Development
- Drilling site near Aurora Reservoir approved despite opposition
- Why the state just approved a massive fracking operation that would dramatically worsen Colorado’s air quality – KGNU Community Radio
- Save The Aurora Reservoir - Protect what matters: Clean water, clean air, clean communities
- Lowry Ranch Drilling Project
- Colorado Energy & Carbon Management Commission Hearing Materials 4-21-2026
- Colorado Energy & Carbon Management Commission: latest info updated 9/25/2025 on State Sunlight-Long OGDP
- AJL Letters: SM Energy Shareholder Concerns Regarding State Sunlight-Long Development and Associated Material Risks.pdf, SM Energy Shareholder Concerns Regarding State Sunlight-Long Development and Associated Material Risks_1.pdf, Investor Letter - BLM Land Sale.pdf, Letter to the Arapahoe County Board of County Commissioners.pdf
Globeville - Elyria Swansea
- Environmental and health disparities plague North Denver neighborhoods
- Data center developer skips out on town hall amid Globeville community concerns
- Local governments in Colorado enact moratoriums on data center development | Colorado Newsline
Newmont Mining
- 2026 Resolution: Newmont Corp: Third-Party Environmental Justice Audit — As You Sow
Arrow Electronics
- 2026 Resolution: Arrow Electronics Inc: DEI Disclosure and Racial Justice Scorecard Results — As You Sow
Partners and Philanthropy-Serving Organizations
