Pershing Square Foundation
Founding Grant to Permanent Fund (2009)
In 2009, Pershing Square Foundation made the founding grant to start One Acre Fund's Permanent Fund. This fund provides the capital that One Acre Fund uses to make loans to farm families. At the end of every year, this fund is replenished by repayments from those same farmers, and thus can be used to serve more farmers, permanently.
Pershing Square Foundation's first gift was for $0.5 million in 2009, followed by $1 million in 2010, $5 million in 2011, and most recently, a $4 million commitment for 2014 to 2016. Each grant has enabled One Acre Fund to make a significant upward revision to our projected growth path.