Tory Burch Foundation
Encyclopedia
Tory Burch Foundation is a US-based non-profit organization dedicated to providing economic opportunities to women and their families in the United States. It was founded by fashion-designer and entrepreneur Tory Burch
in 2009. Burch explained the reason for her focus as “I like microfinance in particular because it isn’t charity in the traditional sense. It’s about investing in people who might otherwise not have the chance to pursue their goals and helping families lift themselves out of poverty…It’s also incredibly important to the economic recovery of our country.”
The Tory Burch Foundations provides access to financial tools and supports micro-enterprises. Small businesses account for more than half of the jobs in the United States. Microfinance loans provide access to capital for small business owners who are not able to get access to traditional loans. Research shows that for every microfinance loan, approximately 1.7 jobs are created and for every dollar invested, between $2 and $2.72 flow back into the economy. In one five year study, 53 percent of low-income entrepreneurs were able to move their families out of poverty.
to provide loans to women-owned small businesses. ACCION USA is a non-profit domestic microfinance provider founded in 1991.
Tory Burch
Tory Burch is an American fashion designer, business woman and philanthropist who was born, raised and educated in the Philadelphia metropolitan area....
in 2009. Burch explained the reason for her focus as “I like microfinance in particular because it isn’t charity in the traditional sense. It’s about investing in people who might otherwise not have the chance to pursue their goals and helping families lift themselves out of poverty…It’s also incredibly important to the economic recovery of our country.”
Focus Area
The Tory Burch Foundation provides micro-loans, education and mentorship to low and middle income women entrepreneurs. The Tory Burch Foundation focuses its programming on women because "Tory believes that one of the most powerful ways to create change is to economically empower women." In the United States, there are 13 million women living in deep poverty. Women are more likely to be poor than men and the poverty gap is wider in the US than anywhere else in the Western World. The leading cause of poverty spells, when the income level dips below the level needed to pay for basic needs, is having a baby, making mothers especially at risk for living in poverty.The Tory Burch Foundations provides access to financial tools and supports micro-enterprises. Small businesses account for more than half of the jobs in the United States. Microfinance loans provide access to capital for small business owners who are not able to get access to traditional loans. Research shows that for every microfinance loan, approximately 1.7 jobs are created and for every dollar invested, between $2 and $2.72 flow back into the economy. In one five year study, 53 percent of low-income entrepreneurs were able to move their families out of poverty.
Partners
In 2009, The Tory Burch Foundation partnered with Accion USAAccion USA
ACCION USA is an American microfinance organization headquartered in New York, NY.- About :ACCION USA offers microloans and other financial services to low- and moderate-income entrepreneurs in the United States who are unable to access bank credit for their small businesses...
to provide loans to women-owned small businesses. ACCION USA is a non-profit domestic microfinance provider founded in 1991.
Tory Burch Foundation Products
The Tory Burch Foundation is supported by public donations and by the Tory Burch Foundation products sold in Tory Burch boutiques. Burch’s stores sell several products whose proceeds support the Foundation’s work.External links
- Tory Burch Foundation http://www.toryburchfoundation.org/
- Tory Burch http://www.toryburch.com/