Program Related investments

Program-Related Investments and Mission-Related Investments

A Program-Related Investment (PRI) is an investment, rather than a grant, for a charitable purpose.  It often takes the form of a loan, which is paid off within a particular timeframe.  The Foundation is actively considering opportunities to make PRIs that align with one of more of its grantmaking strategies under its three major program areas as described in the grantmaking guidelines.  PRIs are common in the housing arena, but the Hyams Foundation plans to explore ways to use them in all three of its funding areas.

The Foundation is also considering making market rate Mission-Related Investments (MRIs) for purposes that align with its grantmaking strategies or one of the three major outcome areas as long as the intended programmatic outcomes of the MRI are clear.  The Foundation’s staff is conducting outreach to solicit ideas for possible PRIs and MRIs. Please review the Foundation’s “How to Apply” document for information about the initial screening criteria for PRIs.  Organizations that have a possible interest in a PRI investment are encouraged to submit a one-page summary of the potential PRI that briefly address the criteria and contact Senior Program Officer Angela Brown 617-426-5600, ext. 310 or abrown@hyamsfoundation.org

Other References

A recent report "Compounding Impact: Mission Investing by US Foundations" describes how an increasing number of foundations are making loans or investments to achieve their charitable goals. It is available for download below:

 "Compounding Impact: Mission Investing by US Foundations"

Please follow this link to an eight-page report on foundation Program-Related Investments by the firm Brody Weiser Burns:

http://www.brodyweiser.com/pdf/currentpracticesinpri.pdf

For more information on Mission Related Investing, please follow the link below to Social Impact Advisors web site:

http://www.fsg-impact.org/app/content/ideas/item/485