Program Related Investments
The Foundation provides a limited number of program related investments (PRIs), or low-interest loans, through a revolving PRI Fund. The Fund is an allocation from the Foundation’s corpus, which augments our grantmaking and provides us with the flexibility to extend our impact and scale.
Goal: To provide organizations with capital to maintain or expand facilities and/or increase services to historically high-need and under-resourced communities in Southern California.
The Fund is restricted to loans at interest rates lower than prevailing market rates for loans of similar duration, credit quality, and risk. We provide affordable loans for nonprofit organizations in the form of bridge financing, working capital, and acquisition and predevelopment. The Foundation’s PRI dollars are leveraged with other funders or capital investments when appropriate. Successful applicants will have a viable, dedicated source for the repayment of the loan.
The PRI Fund prioritizes applicants working in the Foundation’s special issue areas, including housing for homeless and low-income individuals, as well as projects in our Geographic Areas of Focus – South Los Angeles and Southeast Cities of Los Angeles County.
On a select basis, the PRI Fund supports applicants that advance equity by:
- Increasing the production and preservation of supportive and affordable housing for homeless and low-income individuals.
- Expanding access to critical services in under-resourced communities.
- Advancing sustainable economic growth, job creation, and workforce development opportunities for the most marginalized in our communities.
- Supporting capital and equipment needs that strengthen the capacity and effectiveness of nonprofit organizations.
The Foundation also remains open to considering investment opportunities in addition to those listed above that are in strong alignment with our equity framework.
NOTE: The Foundation does not accept unsolicited requests for our PRI Fund. To discuss a prospective project, please contact Rosa Benitez, senior program officer, at email@example.com or (213) 688-6320.