Essays on People, Place & Purpose

Investing in What Works for America's Communities

Clara Miller, F. B. Heron Foundation

Philanthropy’s financial toolkit should include every investment instrument, all asset classes, and all enterprise types.

Clara Miller is president of the F. B. Heron Foundation in New York City, a private foundation dedicated to helping low-income people and communities help themselves. Miller founded and spent 27 years as President and CEO of the Nonprofit Finance Fund, a national CDFI that provides direct financing and financial counsel to social sector organizations. She was appointed by President Clinton to the U.S. Treasury Department’s first Community Development Advisory Board for the then-newly-created Community Development Financial Institutions Fund in 1996. She also chaired the Opportunity Finance Network board for six years and was a member of the Federal Reserve Bank of New York’s Community Advisory Council. Miller serves on the boards of GuideStar, PopTech, and the Robert Sterling Clark Foundation and is a member of the Social Investment Committee of the Kresge Foundation. She is a member of Bank of America’s National Community Advisory Council, the Aspen Philanthropy Group, and the first Nonprofit Advisory Committee of the Financial Accounting Standards Board.

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About The Project

Investing in What Works for America’s Communities is a joint project of the Federal Reserve Bank of San Francisco and the Low Income Investment Fund.

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The views expressed in this book and on this website do not necessarily reflect the views of the Federal Reserve Bank of San Francisco, the Federal Reserve System, or the Low Income Investment Fund.

Tell Us What Works

The ideas in Investing in What Works for America’s Communities are just a start. We want to hear about what’s working in your community. Tell us about innovative ideas for addressing poverty and share examples of people and places that inspire you. We want to share these ideas and spark conversation about how to create opportunity and prosperity for all Americans. Tell Us What Works

Funding for this project was generously provided to the Low Income Investment Fund by the Citi Foundation.