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Clara Miller | |
|---|---|
| Born | 1949 (age 75–76) Hanover, New Hampshire, U.S. |
| Alma mater | University of New Hampshire, Cornell University |
| Occupation(s) | Executive, Innovator in Social Finance |
| Known for | Nonprofit financial management, impact investing |
| Awards | Prince’s Prize for Innovative Philanthropy, Institutional Investor "Investor of the Year" (2015), UNH Social Innovator of the Year (2017) |
Clara Miller (born 1949) is an American executive and innovator in nonprofit finance and impact investing. She is the founding president of the Nonprofit Finance Fund and served as president of the F.B. Heron Foundation from 2011 to 2017. Miller is recognized for advancing the practice of aligning philanthropic endowments with mission-related investments, and for her contributions to nonprofit financial strategy.[1][2]
Career
[edit]In 1984, Miller founded the Nonprofit Finance Fund, a community development financial institution providing loans and financial consulting to nonprofit organizations.[3] She led the organization until 2011, during which time it expanded nationally and supported nonprofits in New York City following the September 11 attacks.[4]
Miller was appointed in 1996 to the inaugural Community Development Advisory Board of the U.S. Treasury’s CDFI Fund, serving as chair from 1999 to 2001.[5] She has served on advisory or governance bodies including the Opportunity Finance Network, the Federal Reserve Bank of New York’s Community Advisory Committee, and the Sustainability Accounting Standards Board.[6]
From 2011 to 2017, Miller was president of the F.B. Heron Foundation, where she led a shift to align 100 percent of its endowment with its mission, a first for a foundation of its size.[7][8] Stanford Graduate School of Business profiled the foundation’s strategy in its 2018 case study The Heron Foundation: 100 Percent for Mission and Beyond.[9]
Publications
[edit]Miller has published widely on nonprofit capital structures and mission investing. Her 2003 essay “Hidden in Plain Sight: Understanding Nonprofit Capital Structure” in Nonprofit Quarterly was cited by business author Jim Collins in Good to Great and the Social Sectors.[10] She has also written for Stanford Social Innovation Review, The Financial Times, and Chronicle of Philanthropy.[11]
Recognition
[edit]Miller received the inaugural Prince’s Prize for Innovative Philanthropy in 2014.[12] She was named Institutional Investor magazine’s “Investor of the Year” in 2015,[13] and honored as Social Innovator of the Year by the University of New Hampshire in 2017.[14] She has appeared multiple times on the NonProfit Times “Power and Influence Top 50” list and was named among Inside Philanthropy’s “50 Most Powerful Women in U.S. Philanthropy.”[15]
References
[edit]- ^ Agovino, Theresa (6 June 2017). "This Foundation Wants to Have a Social Impact with its Investing". Crain’s New York Business. Retrieved 19 September 2025.
- ^ Thompson, Matt (5 June 2017). "Charitable Giving Is Only a Small Part of What Foundations Do with Their Money". The Atlantic. Retrieved 19 September 2025.
- ^ Gunther, Marc (14 January 2019). "Doing Good and Doing Well". The Chronicle of Philanthropy. Retrieved 19 September 2025.
- ^ Gunther, Marc (14 January 2019). "Doing Good and Doing Well". The Chronicle of Philanthropy. Retrieved 19 September 2025.
- ^ "Community Development Advisory Board". U.S. Department of the Treasury. Retrieved 19 September 2025.
- ^ Gunther, Marc (14 January 2019). "Doing Good and Doing Well". The Chronicle of Philanthropy. Retrieved 19 September 2025.
- ^ Agovino, Theresa (6 June 2017). "This Foundation Wants to Have a Social Impact with its Investing". Crain’s New York Business. Retrieved 19 September 2025.
- ^ Thompson, Matt (5 June 2017). "Charitable Giving Is Only a Small Part of What Foundations Do with Their Money". The Atlantic. Retrieved 19 September 2025.
- ^ "The Heron Foundation: 100 Percent for Mission and Beyond". Stanford Graduate School of Business. 2018. Retrieved 19 September 2025.
- ^ "Hidden In Plain Sight: Understanding Nonprofit Capital Structure". Nonprofit Quarterly. 2003. Retrieved 19 September 2025.
- ^ Gunther, Marc (14 January 2019). "Doing Good and Doing Well". The Chronicle of Philanthropy. Retrieved 19 September 2025.
- ^ "2014 – Clara Miller". Tocqueville Foundation. Retrieved 19 September 2025.
- ^ "2015 Investment Management Awards". Institutional Investor. 2015. Retrieved 19 September 2025.
- ^ "UNH alumna to receive Social Innovator of the Year Award". Foster’s Daily Democrat. 13 November 2017. Retrieved 19 September 2025.
- ^ "Meet the 50 Most Powerful Women in U.S. Philanthropy". Inside Philanthropy. 10 March 2016. Retrieved 19 September 2025.