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
- Toasting three decades of success
- Volunteers needed for annual Macomb County Point-in-Time Count of homeless population
- Man arraigned on charges after allegedly hitting school safety officer and principal with vehicle
- MDHHS honors Michigan Adoption Day by celebrating newly adoptive families
- Group honors national court leaders
headlines National
- The business of successfully running an in-house department
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Justice Gorsuch writes children’s book about ‘Heroes of 1776’
- Companies use ‘deceitful tactics’ to market harmful ultra-processed products with ‘addictive nature,’ city’s suit alleges
- Lawyer accused of trying to poison her husband
- ‘Lawyers Gone Wild’? Filmmaker criticizes bar as he seeks ethics probe of serial killer’s daughter for alleged lie
