The foundation of San Francisco State University has agreed to not invest in companies "with significant production or use of coal and tar sands." Further the foundation will seek to limit investments in fossil fuel companies. Advocates for divestment of fossil fuel companies said that they viewed the move as significant. To date, colleges that have embraced divestment have been small, private colleges in the Northeast, while San Francisco State is the first Western or public institution to take such a stand. The foundation's endowment is in the range of $50 million.