Program-related investments (PRIs) are a tool that many foundations use to achieve philanthropic goals and financial returns. In contrast to traditional grants, PRIs include loans, equity investments, loan guarantees, or other investments from foundations. Common program areas funded by PRIs include … Read more

Tyler Mulligan is a School of Government faculty member. In the traditional model of philanthropic foundations, the principal (or endowment) is invested in a conservative investment portfolio to generate a predictable return. The returns on investment become the operating funds of the foundation, wi … Read more