OPINION: F.B. Heron Foundation’s Big Shift to Impact Investing Is Moving Along. Where’s the Money Going?
Tuesday, October 28, 2014
The F.B. Heron Foundation is way out front on impact investing, with its goal of putting the foundation’s full endowment into social impact investments by 2017. So how’s it going?
Well, we won’t know the real answer to that question until the foundation has a fix on the returns from its investments, which may take years.
But in terms of actually moving the money to impact investments, things are on track. Clara Miller, Heron’s president, recently told Crain’s that 63 percent of foundation funds would be in social investments by the end of the year and Heron should meet its goal of 100 percent within the next three years. Miller said she works with a team of consultants to invest in both public and private companies.