Program Related Investments Fund
The San Francisco Foundation Program Related Investments (PRI) Fund extends the reach of our assets in support of strategic priorities. The PRI Fund provides loans to intermediary and established organizations in the San Francisco Bay Area. Through PRIs, The San Francisco Foundation recycles capital, helps unlock much-needed credit for nonprofits, and leverages additional capital into under-served or under-invested communities. The Fund builds on our history of providing loans and loan guarantees. It is also a strategy to provide and catalyze additional sources of financing for the nonprofit sector, to meet community needs that traditional bank financing does not support.
The San Francisco Foundation PRI program works primarily through intermediary and established nonprofit organizations that have a demonstrated ability to use loans to scale their operations and increase impact. We are pleased to partner with financial intermediaries including community development financial institutions (CDFIs), as well as other established financial intermediaries and nonprofit entities.
Our PRI Fund provides loans and loan guarantees to intermediary nonprofit entities and/or equity investments in for-profit entities that are mission driven and that are aligned with our five Program areas: arts and culture, community development, community health, education, and environment.
We began providing loans and loan guarantees in 2002. In March 2009, we increased our commitment by allocating $5 million from our endowment. The San Francisco Chronicle recently profiled our PRI Fund work and how in 2010, a $500,000 low-interest loan from The San Francisco Foundation to Opportunity Fund for small business creation helped pay for Onigilly’s microloan.
We encourage you to read these Frequently Asked Questions to learn more the work that we’re doing to unlock much-needed credit for nonprofits.