Even the Smallest Nonprofit Groups Tried Their Hands at High Finance
Facebook
Facebook
Twitter
Twitter
LinkedIn
LinkedIn
Email
Email
0 Comments
Comments
September 23, 2009, The New York Times — Even the smallest of nonprofits ventured into the world of high finance. A decade ago, Family Service of Greater Boston, a 174-year-old social services agency with an annual budget of about $6 million, sold its nine-story row house on Beacon Hill. Rather than use the $8.1 million in proceeds to buy a new building, Family Service put the money from the sale into its endowment and floated $8 million in variable-rate tax-exempt bonds tied to a swap contract that protected it from interest rate fluctuations.
0 Comments
View Comments
- Places:
- Beacon Hill
Stephanie Strom
Author's page
Related Content
Comments