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Episode 031: Impact Investing with Jennifer Oertel

May 30, 2018

Jennifer Oertel serves as the Impact Investing Expert in Residence at the Council of Michigan Foundations (CMF). In this episode, she and I dig into impact investing, conscious capitalism and shareholder activism. Jennifer also addresses the common misperception that investments made with social good in mind don’t produce market rate returns.

Jennifer explained impact investing vs. traditional grantmaking to us like this: “You can make a charitable grant and hope to generate social impact. However, it is a negative return for you—you’re not getting that money back. If you make an impact investment requiring a return of your money, or a return on your money, you can create social impact and recharge your giving pot to do more.”  

Find Jennifer’s contact information on the Council of Michigan Foundations website.  

Topics discussed in this episode:

  • Meet Jennifer (2:05)
  • The definition of impact investing (3:17)
  • How to start a conversation about impact investing (5:39)
  • CMF’s Impact Investing Collaborative (13:29)
  • The challenges of impact investing (16:38)
  • Why this tool, especially for philanthropic organizations? (21:58)
  • How do you identify good opportunities? (25:50)
  • How do you manage unsolicited requests? (31:28)
  • What does success look like? (33:47)
  • Lessons learned (36:15)
  • Favorite resources (44:23)
  • How to find Jennifer (46:18)
  • Bonus questions (47:18)
  • The wrap up (58:21)

Guest Bio:

Jennifer OertelJennifer Miller Oertel is a shareholder in the law firm of Jaffe Raitt Heuer & Weiss, PC, where she leads the firm’s Tax-exempt Organizations and Impact Investing Group. With a background in securities law, private equity and mergers & acquisitions, Jennifer utilizes her corporate law and governance skills to assist family and corporate foundations, community foundations, public charities, regional associations, trade and labor associations, chambers of commerce, religious organizations and other tax-exempt organizations as well as impact investors, impact funds, and social enterprises, in all aspects of their business.

Jennifer serves as co-chair of the Nonprofit Corporations Committee (Business Law Section) of the State Bar of Michigan, which holds the responsibility of reviewing and updating the state’s laws governing nonprofit corporations in addition to reviewing legislation that regulates the solicitation of charitable contributions.

The Council of Michigan Foundations appointed Jennifer in 2017 as the first-ever Expert In Residence to lead efforts to further develop and support Michigan’s impact investing ecosystem, and she has also been engaged by a national organization to design a framework to advance the impact investing ecosystem across the country.

Notable & Quotable:

Impact investing uses business to create social good —Jennifer Oertel, #successfulgenerations #philanthropy #familyphilanthropy #impactinvesting


Impact investments are at the intersection of philanthropy and capitalism. —Jennifer Oertel, #successfulgenerations #philanthropy #familyphilanthropy #impactinvesting


It’s a myth that you have to sacrifice market rate returns to create positive social impact through your investments. —Jennifer Oertel, #successfulgenerations #philanthropy #familyphilanthropy #impactinvesting


As investors, we have to take ownership of what we own. —Jennifer Oertel, #successfulgenerations #philanthropy #familyphilanthropy #impactinvesting


Resources mentioned in this episode:

  • Global Impact Investing Network
  • CMF
  • The Michigan Collaborative
  • Jennifer’s curated list of resources
  • Max and Marjorie Fisher Foundation
  • World Economic Forum

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Want more of Successful Generations? Check out our other episodes: 

Episode 030: Holistic Weight Management with Cynthia Damaskos
Episode 029: Giving Back Through Giving Circles with Dr. Jason Franklin
Episode 028: The Family Business Podcast with Russ Haworth
Episode 027: The Power of Mindset with Dr. Nancy Jonker
Episode 026: Reflections from Four Decades in Philanthropy with Rob Collier
Episode 025: Power20—10 Ways to Set Your NextGen Up for Success in the Family Enterprise
Episode 024: Pump it Up! Strength Training and Leadership Development
Episode 023: Leadership Development and Agility with Greg McCann
Episode 022: Getting Started in Philanthropy with Colleen Mitchell
Episode 021: Taking Over the Family Business with Mitchell Kaneff
Episode 020: Women and Wealth w/ Adrienne Penta
Episode 019: The Allyn Family 2.0, Part 2
Episode 018: The Welch Allyn Family Business Story with Eric Allyn (4th Gen), Part 1
Episode 017: Achieving Your Goals through MasterMind and Peer Groups
Episode 016: Reframing Limiting Beliefs with Ellie Frey Zagel
Episode 015: Beyond the Piggy Bank with Father, Author, and Entrepreneur Clint Greenleaf
Episode 014: More Awareness and Less Stress through Yoga
Episode 013: Raising Children to be Amazing Business Owners with Paige Cornetet
Episode 012: Generous Genes with Susan Crites Price
Episode 011: Digging into the Family Business Landscape with Daniel Van Der Vliet
Episode 010: 10 Things My Family Did to Engage us in Family Philanthropy
Episode 009: Stress Management and Holistic Health with Cynthia Damaskos
Episode 008: Family, Fights and Ferry Tales with Chris Shepler
Episode 007: Raising Financially Responsible Kids Through the Holidays (and Beyond)
Episode 006: Join the Philanthropic Revolution with Michael Moody
Episode 005: Estate Planning 101 aka Estate Planning is Not Optional with Susan Gell Meyers 
Episode 004: Ginny Esposito – Engaging your Family in Family Philanthropy
Episode 003: Leadership, Wellness, and Concierge Medicine with Dr. Bill Baer
Episode 002: Douglas D Box, Texas Patriarch – A Legacy Lost
Episode 001: About Your Host Ellie Frey Zagel

Learn more about Successful Generations:

FB: @SuccessfulGenerations
Twitter: @EllieFreyZagel
Email: ellie@successfulgenerations.com
Instagram: SuccessfulGenerations


Have a topic suggestion?

If you are the next generation of family business, philanthropy and wealth, and have a topic you think we should discuss, let us know at Ellie@successfulgenerations.com.

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Family Philanthropy

Ellie Frey Zagel

Ellie Frey Zagel is 3rd Generation, Vice Chair and Trustee of her family’s foundation the Frey Foundation based in Grand Rapids, MI. For nearly a decade she has been deeply involved in working with the next generation of family business, family philanthropy, and family wealth, first as Director of the Family Business Alliance and now as President of Successful Generations, a company she recently founded.

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