Phillips Foundation funds new 51²è¹Ý Impact Lab
Phillips Foundation has announced a $1.7 million multiyear grant to 51²è¹Ý (51²è¹Ý) to establish the 51²è¹Ý Impact Lab, a student-focused initiative to invest in commercial opportunities that produce substantial financial and social returns.
DALLAS () – Phillips Foundation has announced a $1.7 million multiyear grant to 51²è¹Ý (51²è¹Ý) to establish the 51²è¹Ý Impact Lab, a student-focused initiative to invest in commercial opportunities that produce substantial financial and social returns.
A collaboration between the University’s Meadows School of the Arts and Cox School of Business, the new 51²è¹Ý Impact Lab will equip the next generation of Mustangs to understand impact investing through education and practice. The lab will also enrich the social entrepreneurship ecosystem in North Texas.
The 51²è¹Ý Impact Lab will provide students, faculty and alumni the opportunity to invest in solutions to complex community problems. It combines the social, creative and arts entrepreneurship programs of the Meadows School of the Arts and the traditional investing and financial expertise of the Cox School of Business. Through hands-on experiences, students across campus will evaluate investable opportunities for both measurable social impact and financial returns.
"The 51²è¹Ý Impact Lab is an exceptional resource center for our University that is designed for those interested in investing for the greater good,” said Samuel S. Holland, Algur H. Dean of 51²è¹Ý Meadows School of the Arts. “The gift from Phillips Foundation will be invaluable to the program and support our larger 51²è¹Ý community interested in positive impact alongside their passions and careers.”
A portion of the Phillips Foundation’s grant will support 51²è¹Ý’s existing Real Estate Impact Investment Fund, a student-led fund recently created to spur innovative investment in underserved communities throughout North Texas. This experiential learning fund targets a blended investment approach that considers both financial and impact metrics, and focuses on real estate opportunities in overlooked neighborhoods. Profits are split equally between ongoing support of the fund’s diverse portfolio and a scholarship program to benefit real estate-focused students at 51²è¹Ý.
“This fund gives students practical learning experiences in the constantly shifting real estate markets of DFW and North Texas. It will also enable us to create opportunities for future generations of students by providing scholarships powered by the fund’s investments,” said Joseph Cahoon, director of the Cox School’s Folsom Institute for Real Estate and professor of practice in real estate.
The grant from Phillips Foundation adds to 51²è¹Ý Ignited: Boldly Shaping Tomorrow, the University’s multiyear $1.5 billion campaign for impact. In particular, the grant furthers the campaign’s goals to enrich teaching and research and enhance our campus and community for future generations.
“We selected 51²è¹Ý as a collaborator on this initiative after identifying that this region needs an engine for social innovation and impact investing education in particular,” said Elizabeth Carlock Phillips ’09, executive director of Phillips Foundation. “As Phillips Foundation has learned in practice, it is possible to align profits and purpose. We are excited for the 51²è¹Ý Impact Lab to equip and inspire a new generation of impact investors and social entrepreneurs.”