Program-Related Investments (PRI) are financial instruments a foundation can use to support a charitable project or activity. Usually structured as loans, PRIs can also be equity investments, linked deposits or loan guarantees.
Rasmuson Foundation uses PRIs to achieve charitable outcomes such as increased employment; increased home ownership; neighborhood stability; redevelopment of blighted properties into useful community assets; and increased availability of safe, secure and affordable housing, foods and services.
To achieve such outcomes, the Foundation uses PRIs to increase availability of credit and capital to nonprofit intermediaries, banks, community development financial institutions, and small-business developers.
The Foundation looks for PRI opportunities in affordable housing, community and economic development, and historic preservation.
The Foundation avoids PRI projects that are bankable through traditional venues; could weaken the borrower; that seek debt reduction associated with a current loan; or that support high-risk business ventures not consistent with the Foundation’s core charitable interests.