Daily News Roundup: Ford Elaborates on $1 Billion Impact-Investing Pledge

Ford Foundation Explains Its Investment Strategy: On the heels of Ford’s announcement this week that it will allocate up to $1 billion of its $12 billion endowment to financial investments, President Darren Walker takes to the pages of The Wall Street Journal (subscription) to explain how it expects its decision to pay off in the fight against inequality. “The Ford Foundation’s $1 billion is not going to change the world by itself,” he writes. “The trillions of dollars that could follow just might.”

Also, The Weekly Standard revisits Darren Walker’s appointment to the PepsiCo Board of Directors and argues that the company will regret inviting the Ford Foundation chief into its inner circle. The story examines Pablo Eisenberg’s critique of Mr. Walker’s move, which ran in The Chronicle.

New Museum in Philadelphia Tops $150 Million in Campaign: The new Museum of the American Revolution, which opens this month, raised the money for its building and endowment, according to the Philadelphia Inquirer. The building was designed by Robert A.M. Stern Architects, who also designed the city’s Comcast Center and the University of Pennsylvania’s McNeil Center for Early American Studies.

Tallying the Perks That Mega-Donors Get: Crain’s Chicago Business takes inventory of the freebies and access afforded supporters of various city arts venues. Tanzanian safari, anyone?

How the Omidyar Network’s $100 Million Gift Could Change Journalism: AdWeek takes a close-of-the-week look at the Omidyar Network’s $100 gift to journalism and free-speech efforts, raising the question of “whether this new public fervor to pay for journalism is merely a reflection of the times or a turning point in expectations around free news.”

Maryland Becomes First State to Mitigate Potential Planned Parenthood Cuts: State lawmakers passed a bill that would reimburse the nonprofit if its federal funding is slashed, as President Trump’s budget proposes, according to The Hill.