Categories for Thinking On…

A Mighty Giant and An Enduring Legacy

Mission-Related Mortgages: How Heron’s Mission-Driven Investments withstood the 2008 Financial Crisis

In an effort to be as transparent as possible, Heron has been posting the performance of its financial portfolio dating all the way back to 1992. And lately, observant readers have been sending us questions about the way in which Heron’s portfolio performed during the 2008 financial crisis.

Deep Dive: The Muses Apartments Bond

The second in a series of retrospective deep dives into a broad selection of Heron’s early fixed income impact investments, featuring a mixed-income housing community in post-Katrina New Orleans.

Deep Dive: Jonesboro Green Tech Bond

The first of a series of retrospective deep dives into a broad selection of Heron’s early fixed income impact investments, featuring the financing of a wind turbine factory in Jonesboro, Arkansas.

Thinking On: The Owner-Labor Tug of War

Profits and wages are often treated as a zero-sum game, but wages play a more complex role in a company’s value creation for all stakeholders, including owners.

Thinking On: Frequently Overheard Grumblings

Heron’s president, Clara Miller, reviews some of the most common misunderstandings she has heard over the past few years in the field.

President’s Letter 2017

Heron’s president, Clara Miller, offers a look back at the past five years of the foundation and offers some lessons learned.

PACE Bonds: Mission Investment? It’s Complicated.

As Heron continues to optimize our portfolio for mission, some types of impact look great in isolation—but less so in context.

Thinking On: Darren Walker’s Decision to Serve on Pepsi’s Board Is Wise

In a letter to the editor, Clara Miller defends Darren Walker's involvement with Pepsi and the many ways philanthropy can, and does, interact with the private sector.

Thinking On: Workers are Assets not Expenses

Could changing company disclosures on skills improvement lead to more investment in workers?