November 27, 2008
New York Philanthropy Paved Path for 'Mission Investing'
When foundation officials talk about using investments to advance their grant-making goals, they almost always mention the example set by the F.B. Heron Foundation.
A little more than a decade ago, the New York philanthropy began to look for ways to harness its investment portfolio to further economic development and create wealth in economically depressed areas. Today more than $96-million of the foundation's $266-million in assets is held in investments tied to Heron's grant-making
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