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Social Investments Practice Fellow

Website The Kresge Foundation

NGO

About The Foundation

The Kresge Foundation is one of the top 20 private philanthropic foundations in the United States and the only one focused exclusively on expanding equity and opportunities for people with low income in American Cities. With a $4 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 Social Investment Practice (SIP)

SIP partners with each of Kresge’s program teams to find barriers to capital impeding progress in their sectors and obscuring pathways to opportunity. Then, we find capital solutions to topple those barriers. Whether through investing in solar + storage solutions, affordable housing. Place-Based community development or minority entrepreneurship, our work always supports the strategies of Kresge’s seven Program teams. We support field-building efforts in community development finance through a small grantmaking budget, especially those that address racial equity in our Program sectors.

Our work supports an often-under-resourced community-development financial system and includes program-related investments (PRIs) loans, equity investments, strategic deposits, and unfunded guarantees, which reduce risk for other investors.

Social investing at Kresge dates to the financial crisis of 2008. In 2015, Kresge’s Board of Trustees approved a $350 million impact investing pool to be deployed through 2020. A goal to leverage $1 billion from other investors was surpassed in 2019. We seek to partner with banks, other foundations, and government sources, and frequently partner with Community Development Financial Institutions (CDFIs) and mission-aligned intermediaries. We also work with our endowment partners to deploy mission-related investments (MRIs) from Kresge’s corpus.

About The Position

The SIP Fellow is responsible for the planning and implementation of team and cross-team efforts and practices that support the foundation’s work nationally and on-the-ground in American cities to strengthen the social, economic fabric of individuals and communities. The Fellow will work in partnership with a program team to manage projects, conduct research and analysis to inform strategies, and lead projects associated with the program team’s priorities.

The Fellow will gain insight into the social sector, institutional philanthropy, community development, and cross-team strategies to advance racial equity through their work, by supporting the implementation of initiatives, participating in team projects, mentoring relationships, and cohort-based learning opportunities.

The Fellow will be a part of a larger cohort of fellows and is expected to live and work in the Detroit-metro area starting August 2024 in order to effectively participate in the fellowship.

This role is a term-limited two-year appointment, with the option of a one-year extension.

Primary Responsibilities

Project Management & Team Operations 

  • Serve as a project manager and coordinator for the programmatic team, keeping current with tasks for each activity, including dates and deliverables, meeting agendas, and notes. 
  • Support and/or lead specific projects that contribute to program team goals. 
  • Coordinate assigned program team participation in activities as assigned, such as lunch and learns, program forums, and projects related to intersecting issues. 
  • Coordinate and support key internal team processes such as strategy and initiative development, goal/objective setting, budgeting, and work planning. 
  • Prepare key materials for presentations and meetings.

Research & Analysis

  • Conduct research and analysis as assigned that inform team initiatives and overall strategy. 
  • Synthesize information from partners to identify key lessons that should be shared with the field and applied to team strategies. 
  • Support the development of clear, concise written communications (including memos, briefs and presentations) for a range of audiences including foundation leadership and its board of directors.
  • Act as point of contact for portions of work including convenings, research, and knowledge exchange.

Relationship Management

  • Assist in the team’s review of requests, preparation of grant recommendations, and other duties as assigned in service to the program’s objectives. 
  • In partnership with the team’s Investment Officers, participate in partner engagement and relationships as requested by team.
  • Plan, travel to, and participate in conferences, convenings and site visits with grantees and funding partners.

Other Responsibilities

  • Gain understanding of philanthropy and specific sector areas (e.g., community development, education, health, etc.) and its role in social sector change.
  • Pursue career goals through professional development and mentorship, while developing ideas, planning for, and securing post-fellowship opportunities.
  • Participate in learning activities with other Kresge Fellows, such as leadership training, skills workshops, and other structured curriculum.
  • Share collective responsibility for achieving objectives of the assigned program team. 
  • Demonstrate a strong commitment to the foundation’s mission and values and demonstrate that commitment in daily interactions.
  • Explore equity and its centrality to the work. 
  • Participate in scheduled team and foundation events to strengthen collaboration and enhance the overall work experience.

Qualifications

  • Bachelor’s Degree required. 
  • Two years of experience in related fields including finance, economics, urban planning, policy, community, or economic development.
  • Ability to read and interpret financial statements, understanding of basic accounting principles. Familiarity with nonprofit financial statements a plus.
  • Aptitude for and a curiosity about uncovering the story behind financial data and other limited information, and an ability to communicate and support analysis.
  • An orientation toward details, a focus on accuracy and pride in one’s work.
  • Proficiency with Excel, spreadsheets, and modeling a plus
  • Self-directed with strong interpersonal skills.
  • Familiarity with community development, impact investing and/or capital markets a plus.
  • A desire to better the world and an appreciation for how capital can be used to address societal problems; and a demonstrated commitment to Kresge’s mission.

Skills

  • Strong project management skills and the ability to chart one’s own direction collaboratively; takes initiative. 
  • Strong analytical skills and the ability to solve problems creatively using qualitative and quantitative data to drive decision-making. 
  • Strong written and oral presentation skills to effectively communicate with a variety of internal and external stakeholders, including executive team members. 
  • Strong team orientation, including the ability to collaborate effectively within and across teams and departments to reach common goals. 
  • Effective time management skills, with demonstrated ability to manage a diverse and demanding workload in a fast-paced environment. 
  • Ability to work with many personalities and successfully understand and work within organizational culture. 
  • Strong customer service orientation for engaging with a variety of internal and external stakeholders and partners. 
  • Brings an intersectional lens to their work and can understand, communicate with, and effectively interact with people across cultures and experiences.
  • Experience with Microsoft PowerPoint and Excel.

Values 

  • Commitment to expanding equity and opportunities for low-income people. 
  • Commitment to the Foundation’s vision and values (stewardship, respect, equity, creativity, partnership, and opportunity) with the ability to demonstrate that commitment in daily interactions. 
  • Take a learning stance.

This position is full-time. The salary for this position is $75,000 per year.

The application deadline for this position is Midnight EST on March 12, 2024.

This position is located in Troy, Michigan and currently has a hybrid schedule. Tuesday and Wednesday are the standard in-office days, however, there may be times when you will have to adjust the days based on work needs. 

This position requires travel for foundation activities, events and professional development activities.

Some Of The Benefits Include

  • Health, dental, vision and life insurance
  • Paid time off
  • Half day Fridays
  • 401k and 401k matching
  • Tuition reimbursement
  • Life, accident and disability insurance

Kresge is proud to be an Equal Employment Opportunity employer and strongly encourages applications from people of color, persons with disabilities, women, and LGBTQ+ 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.

The Kresge Foundation participates in E-Verify to confirm authorization to work in the United States. For more information on E-Verify and to know your rights please click here .