BALTIMORE – All people deserve access to a dignified retirement. But the on ramp to launch retirement plans for small businesses and nonprofits can be steep. The Revolve Fund is working with Just Futures to help. The Revolve Fund today announced an expanded grant partnership with Just Futures to support smaller nonprofits in Baltimore. Revolve’s initial grant investment in late 2024 was designed to support Just Futures as they support nonprofit organizations in developing retirement plans and investments that are aligned with their values.
“Along with real estate, retirement accounts represent one of the largest assets for many Americans,” said James Wahls, managing director of Revolve Fund. “Many smaller nonprofit leaders are unable to offer retirement accounts because setting them up can be costly. Leaders are often focused on the work in front of them – the fires that must be extinguished – rather than retirement planning. Just Futures rectifies the retirement conundrum by lowering the barriers to entry for nonprofits and individuals.”
“In 2022, almost half of American households had no savings in retirement accounts, according to the Survey of Consumer Finances (SCF).” Of those who do have retirement savings, many are not saving enough to sustain their lifestyles when they stop working. Others wonder how to invest ethically with sensitivity to their values.
Beyond investment management, Just Futures offers technical assistance and administrative support for nonprofit leaders looking to establish retirement plans for themselves and their teams. They also lighten the load of overwhelmed human resources staff, managing much of the administrative burdens of setting up retirement accounts. For this partnership, Revolve will identify and subsidize the costs of eligible smaller Baltimore-based nonprofit and social justice organizations to set up retirement plans with Just Futures.
“We know that most Americans are underinvested for retirement,” Wahls said. “For grassroots leaders and others, retirement security is a huge issue. Revolve invested in Just Futures because they help ensure dignified retirements through values aligned investments. Its main customers are missional organizations.”
“We participate in the same rigorous financial analysis as any other investment firm. We also offer a second analysis that is based on values alignment. This ensures that missional organizations can offer their staff retirement options that are values-aligned as opposed to extractive investments that may run counter to the entity’s stated goals.
“As a result of entities like Just Futures, nonprofits don’t have to choose between retirement planning and values alignment. It’s possible to do both,” Wahls said.