Freedonia finances its granting program and administration with the annual income earned from a set of investments endowed by Gary Moffatt.

Freedonia has an investment policy which sets out our investment objectives because Freedonia believes that it should implement its mission not only through the ideas, people, organizations and projects it supports, but also by how it invests and otherwise uses its assets.

The investment objectives of Freedonia are preservation of capital, diversification, income and growth. Investment decisions are made within the context of current economic and market conditions, and based on the assumption of a long term investment horizon.

Freedonia recognizes that while investment decisions must be made according to fiscally responsible criteria, its responsibilities do not end with maximizing return and minimizing risk. We must also consider how Freedonia’s investment decisions affect corporate conduct and broader social concerns.

Freedonia will not invest in companies whose primary activity is the production of tobacco, armaments or nuclear power. Respecting its mission, Freedonia will consider a company’s record in the following areas when choosing where to invest:

• Environment
• Labour Relations
• Human Rights
• Ethical Behaviour

Freedonia wishes to use its influence to actively encourage socially responsible behaviour and ethical conduct in companies in which it chooses to be a shareholder. To this end, Freedonia may choose to engage in shareholder activism, including but not limited to activities such as voting proxies, communicating with company management or Boards, supporting shareholder resolutions, and, if circumstances warrant, deciding to divest itself of shares of certain companies.