About the Foundation
The Kresge Foundation is one of the top 20 private foundations in the United States and the only one focused exclusively on expanding opportunities for people with low income in American Cities. With a $3.8 billion endowment and a staff of over 100 employees, the foundation deploys grants and social investments across arts and culture, education, environment, health, human services and community development. The foundation’s state-of-the-art headquarters maintains an array of energy-efficient, water-conserving and health-promoting systems. The foundation also operates an office in Detroit’s Midtown district.
About the position
The Kresge Foundation has been utilizing social investments to complement its grant making activities for about 12 years. Since inception, the Foundation has invested over $300MM through the practice and there is strong executive and Board support to accelerate the Foundation’s use of non-grant forms of capital (debt, equity, guarantees, deposits).
The Portfolio Manager will work closely with Social Investments and Finance Department staff as well as other foundation employees and investee organizations to support the success of portfolio investments and assist in the ongoing learning, evaluation and asset management of transactions.
This position works with multiple stakeholders and the candidate must have the right blend of hard and soft skills. The ideal candidate will have a finance or banking related asset-management background, an understanding or expertise in non-profit financial statements and business models, an understanding of the social/impact investing sector and a passion to support the use capital to make a difference. Prior experience with social investing or private foundations is a plus, but not required. The candidate must have strong writing and communications skills as well as an aptitude for visualizing data, identifying trends, and distilling details into an insightful high-level view.
Externally, this position works with grantees, borrowers, investors, consultants, and legal counsel.
Application deadline for this position is September 23, 2020
Kresge is proud to be an Equal Employment Opportunity and Affirmative Action employer and strongly encourages applications from people of color, persons with disabilities, women, and LGBT applicants. We do not discriminate based upon race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability or other applicable legally protected characteristics.
Please note: Due to the coronavirus pandemic, all Kresge staff are working remotely, and our Troy and Detroit offices remain closed until further notice. Kresge staff will not be traveling or attending in-person meetings during this time. Thank you for your understanding.