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Our work

Mission-Aligned Investing

The Women’s Foundation’s endowment, which provides operating support for the Foundation, operates in service of our mission. Driving our economic impact through mission-aligned investing is key to transforming our state so that women and families have abundant pathways to build equity and create generational wealth.

Program Related Investments

Program Related Investments (PRIs) are one way we build community power by investing in the economic success of women, girls, and women entrepreneurs, while maximizing our endowment for greater community impact.  

For the Women’s Foundation, PRIs are below-market interest rate loans to CDFIs, who facilitate low-cost financial support and financial trainings to small private companies and nonprofits to strengthen economic opportunities for women and girls, with an emphasis on rural and Greater MN, Latinx, African, and immigrant communities.

Since making our first PRI investment in 2011, $1 million in PRI investments has resulted in $10.9 million in loans for more than 128 small businesses in Minnesota. Loans increase access to capital for women and family-owned businesses, including childcare providers, beauty shops, restaurants, nonprofits serving primarily women and girls, as well as access to affordable housing.

PRI Timeline

  • March 2010: Board of Trustees approved $500,000 (3.3%) allocation to PRIs. 
  • October 2010: First PRIs were made totaling $500,000.
  • November 2012: Board of Trustees increased PRI allocation to 5%. 
  • November 2017: Financial Leadership Committee voted to include Endowed Donor Advised Fund balances in PRI calculation, adding more investment to our collective impact. 
  • January 2022: Board approved aligning 100% of invested assets with mission.
  • Summer 2023: Veris Wealth Partners selected as investment manager for mission-aligned investing.
  • May 2024: Nearly 100% of invested endowment funds are aligned with mission.

Our PRI Partners

African Development Center

Makes small business loans to African entrepreneurs from African communities.

Entrepreneur Fund

The Entrepreneur Fund invests in strategic planning for business owners and has implemented programming around building capacity of employers.

Impact Story

Latino Economic Development Center

Loans to Latinx small businesses owned by women or multigenerational families.

Impact Story

Northwest Minnesota Foundation

Loan funds are increasing child care providers in Northwest Minnesota.

Impact Story

Propel Nonprofits

Provides capacity-building services and access to capital to support nonprofits in achieving their missions.

Impact Story

In addition, the Women’s Foundation has invested in the Rose Affordable Housing Preservation Fund IV through Calvert Impact. We hold a grant-funded donor advised fund
through the Venn Foundation.  

“The support from the Women’s Foundation enables us to lift up and support women who dream of opening and operating their own businesses. Thus far, this funding has invested in women-owned restaurants, child care center, and in-home child care businesses.”

Bethany Wesley,
Northwest Minnesota Foundation 

Amplifying Our Impact

The Women’s Foundation is working to align all its investments with our philanthropic mission for gender and racial justice while achieving our goals for returns. We maximize our return by diversifying our investments in private equity, cash, equity, and fixed income. 

Are you an investor interested in applying an equity lens to your own portfolio? View the Justice, Equity, Diversity and Inclusion (JEDI) Investing Toolkit to get started, and see more about gender lens investing from Tides Foundation via the link below.

Investing with a Gender Lens

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Your support fuels the innovative community-based, community-led work happening across the state. Explore our funding opportunities.

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