Through Program Related Investments, the Community Foundation hopes to:

• Increase the sustainability of nonprofit organizations through creation of social enterprise that generates revenue
• Extend the power of our invested assets by investing in the local economy
• Recover assets invested in the community for future reinvestment
• Leverage other investments or sources of support
• Increase access to wealth for typically under-served and/or low-income populations

A PRI from the Community Foundation Might be Used for:

• Start-up activities that address the Foundation’s priorities for achieving community outcomes through social enterprise
• Capital to conduct activities where timing may be a challenge to cash-flow for completion of a project
• Where revenue generation is possible through the activities, allowing the investment to be repaid
• Organizations with stable finances, but without traditional access to capital

Capital Fund Services (now Cinnaire Lending, Inc.) received a $350,000 investment for pre-development loans to local affordable housing developers. An additional $300,000 was approved in August, 2016 for additional pre-development loans for multi-family developers, as well as acquisition and re-development loans for single-family developers. A Donor Advised Fund co-invested $150,000, for the same purposes.

An investment of $850,000 enabled property acquisition and cash-flow for Habitat for Humanity as they re-develop a multi-block area in the Roosevelt Park neighborhood into residential, mixed-use, community and institutional spaces. A Donor Advised Fund co-invested with the Community Foundation unrestricted investment, providing an additional $220,000 for a longer term. Potential uses of the property now include affordable housing, health care and commercial redevelopment in the Grandville Avenue/Franklin Street neighborhood.

• IRS status as 501(c)(3) nonprofit organization or Low-profit Limited Liability corporation (L3C)
• Strong plan for repayment or ongoing generation of invested capital
• Documented evidence of solid financial practice and management of resources
• Be located in or have a primary service area in Kent County

• Nonprofit organizations, public agencies, or low-profit limited liability corporations (L3C) can apply for a PRI from the Community Foundation.
• Program Related Investments must align with the current priorities of the Community Foundation.
• The Foundation’s values will also be considered, particularly related to diversity, inclusion, and access.
• If you believe your project is a fit, we hope that you will consider submitting a pre-application here.