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