November 27, 2008
Invested With Purpose
Foundations see growing appeal of mission-related investing
Like many grant makers, the F.B. Heron Foundation's assets have taken a big hit from the global financial crisis. By the end of October, the value of its endowment had dropped roughly 20 percent for the year. But the New York philanthropy has an unexpected bright spot in its portfolio — the program-related investments that the foundation has made to further its mission to spur economic development and create wealth in impoverished areas.
The $20-million in low-interest
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