Traditionally, foundations have kept their investment sides separate from their giving sides.
In 2012 the F.B. Heron Foundation set a goal to invest 100 percent of the foundation’s $250 million in assets to fight poverty by the end of 2017.
CEO Clara Miller says Heron hit its target last year and “became one staff, working in a single operation dedicated to deploying all our resources—investment assets, social and reputational capital, cash ‘spend’—for mission.”
Writing in Stanford Social Innovation Review, Miller says Heron’s next goal is “a revolution in capital.” That means ‘connective investing’ to drive system change on both Main Street and Wall Street.
This post originally appeared in ImpactAlpha’s daily newsletter. Get The Brief.
Photo credit: C. Fox Communications