Case Studies

The F.B. Heron Foundation: Mission-Related Investing

June 2007. Prepared by the Southern New Hampshire University's School of Community Economic Development, this case study explores the details of the F.B. Heron Foundation's rationale, exploration, and implementation of its mission-related investment strategy, and reviews the tools (including PRIs), specific investments, interim outcomes, and lessons learned. Case Study: Expanding Philanthropy -- Mission-Related Investing at the F.B. Heron Foundation

Pearl M. and Julia J. Harmon Foundation

In 1981 the Harmon Foundation’s Trustees decided to experiment with offering Program-Related Investments in the form of zero interest loans. (Foundation assets are now approximately $43 million.) It was a time of hyper-inflation and charities were having to borrow at high rates just to begin building so rising costs would not make their buildings more expensive faster than they could raise money. The Foundation's goal was to establish a revolving fund of loan principal which would enable the Foundation to support more and larger projects than it could with its normal distribution. Bringing this pool of charitable capital into existence was a significant aspect of the decision to make loans. In the 25+ years since, the Harmon Foundation has made 103 Program Loans, about $20 million. Not one loan has defaulted. Read more about how the Harmon Foundation considers its investments and implements its program. PRIs at the Harmon Foundation

Mary Reynolds Babcock Foundation

When and Why to Consider PRIs? A Clear Look at the Fundamentals by Mary Reynolds Babcock Foundation

Northwest Area Foundation

Grants Due Diligence Check List (including PRIs) by Northwest Area Foundation

More funder profiles coming soon.