Tory Burch Foundation

ABOUT THE FOUNDATION | NEWS

The Tory Burch Foundation is a non-profit 501(C)3 organization that provides economic opportunity to women and their families in the United States.

Fashion designer, mother and entrepreneur Tory Burch launched her Foundation in 2009. Based on her own experiences as a working parent, Tory believes that one of the most powerful ways to create change is to economically empower women. Under her direction, the Tory Burch Foundation helps women access financial tools which improve their lives.

Women are the majority of poor citizens in the United States, with 13 million women living in what the Census Bureau calls "deep poverty". Women are less likely to qualify for medical benefits or unemployment insurance. In the U.S., having a baby is a leading cause of a person's income dipping below what's needed to cover basic living expenses. Single mothers are at the highest risk of poverty and are the most likely to be self-employed entrepreneurs. Recent studies show that women, especially mothers, have also been disproportionately affected by the recent crisis.

These "micro-entrepreneurs" so called because of the smaller, or micro, size of their businesses support their families and are the front line investors in their communities. They are more likely to be denied a loan by a traditional bank and face higher levels of financial discrimination.

As terrible as these statistics are, they don-t fully illustrate the human point that poor working mothers often cannot sufficiently meet their or their children's basic needs of food, shelter, clothing or education.

The Tory Burch Foundation's first partner, ACCION USA, provides the loans and financial services small business people need to succeed. ACCION USA is a leading microlender in the United States, having provided loans from $500 to $50,000 to more than 11,000 small businesses nationwide. ACCION USA serves low-to-moderate income clients; 40% are women and more than 80% are minorities. Since its 1991 founding, ACCION USA has proven that low-income and small business clients historically repay these vital loans at an impressive 92%, representing countless inspiring success stories. ACCION USA offers financial literacy programs and support to people trying to establish credit histories, a critical first step to economic success. ACCION USA's work enables clients to increase family incomes, create jobs and revitalize communities.

NEWS & EVENTS

On December 8, 2011, The Tory Burch Foundation and Accion USA partnered to offer an evening of mentoring to over 60 entrepreneurs.

Our mentors included recognized leaders in retail, fashion, beauty, public relations and more:

Joan Amble, Executive Vice President, Finance, American Express
Kendra Bracken-Ferguson, Co-Founder and Managing Director, Digital Brand Architects
Bobbi Brown, Founder and Chief Creative Officer, Bobbi Brown Cosmetics
Millard Drexler, CEO and Chairman, J.Crew
Haley Fox, Co-Owner, Alice’s Tea Cup
Mark Kaufman, Executive Vice President, Warner Brothers Theatre Ventures
Dave Lerner, Entrepreneur/Angel Investor/Director – Venture Lab at Columbia University
Quynh Mai, Founder, Moving Image and Content
Jay Mattie, U.S Client Leader, Private Company Services, PricewaterhouseCoopers
Victoria Meyer, New York Metro Tax Leader, Private Company Services, PricewaterhouseCoopers
Jane Wesman, President, Jane Wesman PR, Inc./President, NY National Association of Women Business Owners
Ali Wing, Founder and CEO, Giggle
Read about the foundation’s work to support women-owned small businesses, from ABC News
Read about the foundation’s latest mentoring event, connecting women entrepreneurs with industry-leading mentors
Read more about how the foundation helped one small business owner through microfinance