Four leading national foundations have announced the launch of a free online resource designed to help the staff of other private foundations explore the rules and potential impact of program-related investments.
Created by staff at the Bill & Melinda Gates, William and Flora Hewlett, Gordon and Betty Moore, and David and Lucile Packard foundations as part of the Learn Foundation Law suite of resources, Program-Related Investment Rules for Private Foundations includes a series of interactive training modules that provide an overview of how foundations can use PRIs to help nonprofit organizations seize time-sensitive opportunities, attract capital to a new field, scale their efforts to achieve maximum impact, and stimulate private-sector innovations that align with their own programmatic strategies. The online resource also covers such topics as legal requirements, due diligence, and documentation, and includes a variety of examples and scenarios.
"Interest in impact investing continues to grow," said Susan Phinney Silver, PRI program manager at the Packard Foundation. "For foundations, PRIs are a great tool for spurring new innovations and attracting private capital to support the activities we care about. This course is a great resource to help program officers feel comfortable using PRIs to collaborate with new partners and bring the organizations they work with to a new level."