Glossary Term

Program-Related Investing / PRI

A type of impact investing in which a grantmaking institution provides capital in the form of low-interest loans, loan guarantees, or related financing methods that involve some form of repayment. PRI financing is provided to charitable organizations as well as other types such as L3Cs and socially responsible businesses. PRIs are meant to further the mission of the grantmaking institution using means beyond traditional grants, and they count toward the annual payout requirement (5% of endowed assets) for private foundations.

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