Just desserts – Sara Lee foundation to invest all assets into social change

Tuesday, March 20, 2018

By Lee Mannion

The charity founded by the previous owner of frozen dessert-maker Sara Lee in the United States said it would invest its entire $440-million asset pool in ways that drive social change.

The New York-based Nathan Cummings Foundation (NCF), which in 2016 agreed grants of $23 million, said its decision would make it “one of the largest foundations to commit 100 percent” to so-called impact investing.

Impact investing takes into account financial returns as well as the effect such investments have on people’s lives.

“The problems we are working on – the climate crisis and growing inequality – will not be solved by grantmaking alone,” NCF president Sharon Alpert said in a statement.

“How we invest our assets and leverage our influence as an investor are powerful tools to make that change to happen.”

Photo courtesy of Images Money.

Source: Reuters (link opens in a new window)

impact investing, philanthropy