November 27, 2008
Foundations Make Investments to Spur Economic Growth In Regions Where They Make Grants
As foundations seek to bolster economic growth in the regions where they make their grants, some of them are channeling money from their investment portfolios into projects that strive to improve the quality of life for local residents.
In 2004, the Northwest Area Foundation took $10-million, roughly 2 percent of its $463.6-million endowment, to start Invest Northwest, a professionally managed venture-capital fund that finances established companies in need of money to grow. The
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