Program-Related Investments (PRI)
Program-related investments (PRI) are investments made by foundations to support charitable activities that involve the likely return of capital within an established time frame. PRIs include financing methods commonly associated with banks or other private investors, such as loans.
The Women’s Foundation of Minnesota is a real leader on this: of the hundreds of grantmaking foundations in the U.S., only about 300 make PRIs, and the Women’s Foundation of Minnesota is the only women’s foundation to do so. It is the policy of the Women’s Foundation of Minnesota that 5% of our endowment is invested in PRIs. We do not make any loans to NGOs directly, but work with the following intermediary partners: Nonprofits Assistance Fund, Entrepreneur Fund, and WIN-WIN (Women Investing In Women Initiative) at Calvert Foundation.
The Women’s Foundation of Minnesota has invested in PRIs since 2011. In that time, our $500,000 of PRIs invested in Minnesota has infused $2,960,662 of capital into communities throughout our state. These investments were made in nonprofits that benefit women and girls, as well as in businesses that are owned by women in northeastern Minnesota. Additionally, another $100,000 of PRI funding has allowed the WIN-WIN program at Calvert Foundation to infuse additional capital to nonprofits and social enterprises serving low-income communities throughout the U.S. and around the world. Our PRIs total $600,000.