Foundations turn to bond market in response to rising need
In addition to the California Endowment, the Bush, Kellogg, Mellon, and Rockefeller foundations and the UJA-Federation of New York are recent entries into the bond market. Suzanne Shank, who sits on Skillmanโs Board of Directors, co-founded Siebert Williams Shank, which served as a manager on several of the recent foundation bond offerings. AdThe foundationsโ debt offerings came in the form of social bonds, which allow investors to try to improve society and shoot for market returns simultaneously. Advocates of the foundation bond offerings say the time is right. Unlike nonprofits, whose finances have been crushed during the pandemic, foundations have continued to enjoy strong investment returns for their endowments from the stock market.
Winner of Skillman Foundation float design contest sees drawing brought to life
DETROIT โ With a few days left before the annual Americaโs Thanksgiving Parade, the Skillman Foundation and Parade Company unveiled the winner of the foundationโs float design contest. โThe Skillman Foundation is happy to have been able to sponsor a float designed by young people for 29 years in a row,โ said Tonya Allen, CEO and president of Skillman Foundation. โWeโre excited about it and weโre glad that the Parade Company could pull off this fantastic day despite the pandemic.โThe float was designed by 13-year-old John Baker IV. โIโm very fortunate that it got picked because all of the other honorable mentions were amazing,โ he said. On Thanksgiving morning, coverage begins at 6 a.m. on WDIV-Local 4 and ClickOnDetroit.com with a special edition of Local 4 News Today hosted by Rhonda Walker, Evrod Cassimy and Brandon Roux.