Wednesday, November 11, 2009

PRIs on the Rise?

 A recent article in the Wall Street Journal reports that tough economic times are spurring more private foundations to engage in program related investments instead of merely making grants.  Whereas PRIs once were the domain of Ford and the other bigs, the article claims (without offering numbers) that smaller family foundations are moving toward PRIs in the form of "equity investments in lines of credit, as well as loans, loan guarantees and mortgage financing to help organizations acquire property, create jobs or expand products and services."

If it is indeed true that there is a trend toward private foundations engaging in PRIs, I wonder whether that trend will breath life intoL3Cs, a new hybrid entity form that was designed in large part to facilitate program related investments in sustainable, low-profit social enterprises.

TAK

http://lawprofessors.typepad.com/nonprofit/2009/11/pris-on-the-rise.html

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