This template community foundation board resolution authorizes the foundation to make a loan as a program-related investment (PRI). These types of activities are generally permitted by state and federal law when they serve to advance the charitable purposes of the foundation.
Whether called impact investing, mission investing, program-related investing, or sustainable and responsible investing, foundations increasingly seek to leverage financial markets for social gains. These resources help your foundation explore the emerging strategies and diverse options available.
In-Depth knowledge on Impact Investing
The Council on Foundations and Mission Investors Exchange held a special edition of our Legal Lunch series where we discussed the impact and importance of new regulations on Program Related Investments.
The Council on Foundations, in collaboration with Mission Investors Exchange, invites you to attend a one-hour webinar discussing the implications of the new U.S. Department of Treasury guidance on mission-related investments.
Helpful article published by Adler & Colvin summarizing the key differences between Mission-Related and Program-Related Investments for Private Foundations. The article also lays out many of the necessary legal and regulatory questions when determining if an impact investing strategy is appropriate for a given situation.
We are pleased to share a practical toolkit for community foundations looking to engage their donors in an impact investment program. Developed by Imprint Capital in partnership with The Greater Cincinnati Foundation, the toolkit outlines the entire process—from feasibility through implementation—to help a community foundation incorporate donor-advised funds (DAF) into their programs. Thanks to a generous grant from The Rockefeller Foundation, Imprint was able to test the concept with four community foundations fom 2010 to 2012 and identify multiple approaches to operating a DAF impact investment program.