By Ben Thornley, Brenna McCallick and Daniel Brett
In May 2007, the $8 billion W.K. Kellogg Foundation (WKKF), headquartered in Battle Creek, Michigan, launched a Mission Driven Investments (MDI) initiative that, with a commitment to investing directly in for-profit companies, stands as a successful and especially innovative example of a large institution aligning endowment preservation with programmatic objectives. After celebrating the Foundation’s 75-year anniversary in 2005, WKKF’s 10 Trustees were eager to embrace fresh approaches to a unified objective of “whole child development.” At the same time, the practice known as mission-related investment was gathering steam.
Pacific Community Ventures, Inc. (PCV), Impact Assets, The Fuqua School of Business, 2014