TROY (AP) — The Kresge Foundation says it plans to boost its practice of providing capital to organizations and social efforts by investing $350 million by 2020.
The Troy-based foundation recently said that its board of trustees had approved the plan to increase its social investment practice, through which it provides loans, deposits, equity and guarantees. The foundation says on its website it takes more risks than private-sector financers.
The new funds would be generated through returns on its $3.5 billion endowment over the next five years, according to the foundation.
The foundation announced earlier it was working with partners to commit more than $70 million to help finance affordable housing for low-income families.
- Posted September 24, 2015
- Tweet This | Share on Facebook
Foundation to boost social financing efforts
headlines Macomb
- Macomb County Meals on Wheels in urgent need of volunteers ahead of holiday season
- MDHHS hosting three, free virtual baby showers in November and December for new or expecting families
- MDHHS secures nearly 100 new juvenile justice placements through partnerships with local communities and providers
- MDHHS seeking proposals for student internship stipend program to enhance behavioral health workforce
- ABA webinar November 30 to explore the state of civil legal aid in America
headlines National
- Bryanna Jenkins advocates for the Black transgender community
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Florida AG held in civil contempt for disobeying order; ‘litigants cannot change the plain meaning of words,’ judge says
- Barrister’s new mystery novel offers glimpse inside the Inner Temple
- Disbarment recommended for ex-Trump lawyer Eastman by State Bar Court of California panel
- Retired California justice faces disciplinary charges for allegedly taking too long to decide cases
