Foundations Have Shifted Assets to Aging-Related Sectors

Large foundations are prioritizing investments in care and services for older adults to match changing demographics.

Updated on Oct. 5, 2026 in Investing

Isometric editorial illustration of interlocking wood and brass geometric segments forming a stable base, representing institutional investment strategy. — The Scan Foundation and Next50 are reallocating millions in assets to prioritize aging-related services as the U.S. population demographic shifts. AI Illustration. Upload story photo >

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Should private foundations prioritize aging-related social issues when managing their investment portfolios?

The Scan Foundation has allocated 5% of its $280 million in assets toward mission-related impact investments. This move supports businesses providing care and services to the growing population of older adults in the United States.

Why it matters

Investors are responding to demographic shifts that project adults aged 65 and older will exceed 20% of the U.S. population by 2040. By focusing portfolios on aging-related care, foundations aim to improve affordability, quality, and access for this demographic.

The Scan Foundation carved out $13 million for impact investing, representing 5% of its $280 million in total assets. The foundation expects these aging-focused investments to meet a return hurdle rate of 4% to 5%.

The players

Scan Foundation

A California-based organization that focuses its $280 million in assets on improving care and affordability for older adults.

Next50

An asset manager with $265 million that builds investment portfolios centered on the needs of an aging population.

JPMorgan Chase

A global financial institution that provides wealth management and offers aging-focused investment themes to its clients.

Women's Foundation of Colorado

A philanthropic organization that shifted its $42 million portfolio to prioritize gender-lens investments.

The details

The Scan Foundation directs its capital toward aging-related businesses by using side letters in fund commitments. Similarly, Next50, which manages $265 million in assets, collaborated with JPMorgan Chase to design a thematic portfolio strategy centered on aging. These models focus on shifting assets to align with care-related outcomes rather than traditional market benchmarks.

2008: The Scan Foundation was established with a one-time donation.
2016: Next50 was formed to focus on aging-related strategies.
2014-2023: The Women's Foundation of Colorado transitioned to gender-lens investing.
October 2026: Grantmakers in Aging held a conference in Denver.
2040: Adults 65 and older are projected to exceed 20% of the U.S. population.

Money Landscape

This pivot toward aging-related investments follows a long-term trend of institutional capital moving toward mission-specific themes like sustainability or social equity. It represents a departure from traditional, broad-market indexing as foundations target care affordability as a financial goal.

As institutional investors increase capital flow into the aging sector, households should monitor how these trends affect the cost and availability of long-term care services. Consider reviewing how your own long-term savings or retirement accounts might be exposed to these thematic sectors.

The takeaway

The move toward aging-focused investments underscores the growing economic importance of the senior care sector as the U.S. demographic profile shifts. Households planning for long-term care should review their retirement budgets and consult with a professional regarding the rising costs of care services.