Program Related Investments Discussion Hosted
Program Related Investments Discussion at Quarterly Meeting
Program related investments (PRIs) were the focus of a discussion at The 1772 Foundation’s quarterly meeting, held in Newport on October 19th. Jim Bildner, a Senior Research Fellow at the Hauser Center for Nonprofit Organizations and Adjunct Lecturer on Public Policy, Harvard Kennedy School of Government, was the featured presenter. Jim is an expert on PRIs – low-interest loans, guaranties, or other types of investments made by foundations to promote their charitable purposes. Jim’s research investigates long-term trends and recent changes in the patterns of funding for arts and cultural institutions in U.S. cities and the capacity of their communities to sustain them. It seeks to identify a set of specific issues that funders, policy makers, and institutional leaders agree can and must be addressed if these institutions and their communities are to thrive.
Representatives of the Island Institute, based in Rockland, Maine and The New York Landmarks Conservancy also participated in the conversation. Their non-profits use PRIs to promote their mission-related work. The event was open to area funders who also wanted to learn more about the potential of this investment tool. The discussion, followed by a reception, took place at the New York Yacht Club.