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Greetings! 
After extensive advocacy by PRI practitioners, the IRS has proposed nine new examples of program-related investments that meet existing IRS requirements. The examples provide further guidance and assurance to private foundations that are looking at the variety of ways in which PRIs can be used to foster social change. The comment period on these examples continues through July 18, 2012. Let us know of your questions or concerns, and we will convey them to the IRS. Once finalized, these examples will be an important resource for foundation leaders and legal counsel. Legal requirements related to PRIs will be explored in depth at the pre-conference workshop on Legal Fundamentals at our upcoming conference. In addition, a new comprehensive legal primer, developed by LinkLaters LLC, in conjunction with TrustLaw, will be posted on our website beginning on May 8th.
Peter Berliner, Managing Director, PRI Makers Network
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 An important part of encouraging the growth of mission investing is understanding who effective advocates are within foundations. Our work on mission investing at the Initiative for Responsible Investment has included a focus on the role of foundation trustees in designing mission investment policies, building investment strategies, and engaging with staff, investment consultants, fund managers, and other stakeholders.
As we look at the role of trustees, we focus more on social dynamics than questions of formal governance. We are interested in exploring the culture of foundation boards as it relates to investment decisions. Read More...
David Wood, Director, More for Mission
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 In the News | |
The Endowment announced its second year of investments to help advance its Building Healthy Communities strategy. Focusing on innovative approaches to promoting health and wellness, the foundation made six investments addressing healthy living through affordable housing and community health centers.
Technology Access Foundation of Seattle recently secured $12.5 million in financing to build a community learning center for its intensive science, technology, engineering, and math (STEM) program aimed at lower-income students of color. The financing package includes a $2.9 million bridge loan from Enterprise Community Loan Fund, supported by The Seattle Foundation's purchase last year of a $1 million Enterprise Community Impact Note.
Chase's grant will help NDC make business loans to create jobs in underserved communities throughout the country through its Grow America Fund. The Fund provides loans ranging from $100,000 to $2 million to help expanding small businesses finance working capital and inventory, purchase equipment, and hire new employees-- with the overall goal of helping revitalize the country's main streets and commercial corridors.
Cape Cod Times Shines on SUN Initiative
The Boston Community Capital's (BCC's) Stabilizing Urban Neighborhoods (SUN) Initiative works with Massachusetts homeowners who have stable incomes and are facing foreclosure. The John D. and Catherine T. MacArthur Foundation has made PRIs with SUN, and a number of PRI Makers Network members have made PRIs with various BCC efforts.
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Investing for Impact:
2012 National Conference
May 8 - 10, 2012
Seattle Waterfront Marriott Hotel
In two weeks, nearly 300 representatives from foundations and other organizations in the mission investing community will gather to learn from colleagues, share experiences, and build their mission investing programs. The conference will launch and celebrate the new organization resulting from the integration of the Network and More for Mission. Through the support of our conference committee, sponsors and speakers, the conference options include skill-building workshops; site visits related to economic development, health, food systems and sustainable communities; an Investment Opportunity Forum featuring funders and their investees; presentations about the Create Jobs for USA Program, the impact of investments in Native communities, the future of mission investing, and many more!
Don't miss it - only a few openings remain for Network and More for Mission members! Registration will close on May 1st.
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New at the Network | |
Welcome New Members!
Our membership continues to grow in anticipation of the launch of our integration with More for Mission at our May conference. If your organization is not yet a member, join today! We are pleased to welcome the following new members:
Central Indiana Community Foundation
supports donors, family foundations and their professional advisors on charitable giving, awards grants to nonprofit organizations and provides leadership to address community needs and seize opportunities.
Incourage Community Foundation of Wisconsin focuses on renewed employment in the face of layoffs; increasing access to technology in the face of digital divide; turning everyday people into everyone's leaders; and creating partnerships that intensify impact for the community.
Surdna Foundation of New York seeks to foster just and sustainable communities guided by principles of social justice and distinguished by healthy environments, strong local economies and thriving cultures.
Wallace Global Fund of Washington, DC promotes an informed and engaged citizenry, fights injustice, and protects the diversity of nature and the natural systems upon which all life depends.
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Resource of Interest |
Confluence Philanthropy provides proxy voting services designed for foundations seeking to promote environmental sustainability and social justice through responsible ownership. Its program, Proxy Power, enables foundations to align their position as shareholders with their missions.
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Event of Interest |
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SAFSF 10th Anniversary Forum: Bounty for All?
June 19- 21
Santa Barbara, CA
The Sustainable Agriculture and Food Systems Funders (SAFSF) invites you to its 10th Anniversary Forum where they will reflect upon progress over the last decade and look to future challenges and opportunities. Using the California food system as a microcosm of our global food system, Forum participants will explore inequities around issues of water, environmental health and labor.
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Peter Berliner, Managing Director, PRI Makers Network
David Wood, Director, More for Mission
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