Program-Related Equity Investments


In addition to grants, program-related investments or PRIs provide another useful tool for private foundations to achieve their philanthropic goals. However, although PRI loans and loan guarantees have become increasingly popular, PRI equity investments are less understood and less often employed.

This article, Program-Related Equity Investments, explains how a foundation can further its charitable mission by making investments in for-profit ventures from its grantmaking budget. Written by leading foundation tax and legal authorities, this article explores critical considerations and best practices for undertaking this underutilized type of PRI.

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