- Associated Press - Friday, September 18, 2015

TROY, Mich. (AP) - The Kresge Foundation says it plans to boost its practice of providing capital to organizations and social efforts by investing $350 million by 2020.

The Troy-based foundation said Thursday that its board of trustees had approved the plan to increase its social investment practice, through which it provides loans, deposits, equity and guarantees. The foundation says on its website it takes more risks than private-sector financers.

According to the foundation, the new funds would be generated through returns on its $3.5 billion endowment over the next five years.

The Kresge Foundation announced earlier this week that it’s working with partners to commit more than $70 million to help finance affordable housing for low-income families.

Sign up for Daily Newsletters

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide