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Program-Related Investments

About our grantmaking

In addition to its grantmaking, the Foundation makes program-related investments (PRIs), which are low-cost loans and equity investments provided at below-market rates to support charitable activity. Most of the Foundation's PRIs are used to support specialized intermediaries known as Community Development Financial Institutions (CDFIs), and to support Window of Opportunity, a $150 million grant and PRI initiative designed to help preserve affordable rental housing across the country.

Latest news

CDFIs Gain New Support and Visibility

December 16, 2011

Opportunity Finance Network’s recent national conference featured announcements of new support for community development financial institutions (CDFIs). The Kresge Foundation awarded a $10 million PRI to support five years of the NEXT Awards, which were launched by MacArthur in 2007. In addition, Wells Fargo will provide $17 million in grants to support the program, bringing the total amount leveraged to date to almost $45 million. Finally, Bank of America announced the recipients of $55 million in new loans and grants it will provide to support energy efficiency financing programs led by CDFIs, most of whom previously received start-up funding from the Foundation’s Window of Opportunity housing preservation initiative.

$8.25 Million Awarded to Two Innovative CDFIs

October 25, 2011

The Wachovia Wells Fargo NEXT Awards for Opportunity Finance, the nation's largest and most prestigious awards program for responsible finance, announced the two winners of $8.25 million in prizes.

More »

Affordable Housing Saved in DC Neighborhood

October 17, 2011

The St. Dennis Apartments in D.C.’s Mt. Pleasant neighborhood reopened as a fully renovated, energy efficient building that low and moderate income families could afford due to efforts by tenants  who refused to be forced out when their landlord sought to convert their apartment building to luxury condominiums.  After securing a settlement that included the option to purchase the property at market value, the tenants chose MacArthur grantee the National Housing Trust-Enterprise Preservation Corporation to assist in securing the financing to acquire and renovate the property. More »

Chicago Launches New Program to Combat Foreclosures

August 17, 2011

The City of Chicago has launched a new initiative to prevent foreclosures and stabilize property values in certain neighborhoods that have a significant number of foreclosures and vacancies, reliable property ownership records, previous investments by program partners, and continued market interest by potential homeowners and residential developers. The Micro-Market Recovery Program will begin in sub-sections of Humboldt Park, Chatham, Chicago Lawn, West Woodlawn, Auburn Gresham, West Pullman, Belmont Cragin, Englewood, and Grand Boulevard. The work is supported by $15 to $20 million in loan programs supported by MacArthur, which will help leverage a total of $50 million in investments from private sources. MacArthur's support is part of the Foundation's larger Foreclosure Prevention and Mitigation Project. Read the press release »

Affordable Housing, Community & Economic Development

From the Field

  • Starbucks Partners with MacArthur Grantee to Support Community Development Lenders
  • November 1, 2011
  • In a partnership with the Foundation-supported Opportunity Finance Network, Starbucks will provide capital grants to select Community Development Financial Institutions (CDFIs). The CDFIs will provide financing to underserved community businesses, including small business loans, community center financing, housing project financing, and microfinance. The Starbucks Foundation seeded the project with an initial $5 million contribution and Starbucks stores will accept contributions for this effort.

More from the field »

For more information

Information Sheet

Program-Related Investments [PDF]

May 2010

What are PRIs? How does MacArthur use them in its grantmaking? Download this short information sheet »

[PDF, 4 pg]

Information Sheets, Publications

About MacArthur

The MacArthur Foundation supports creative people and effective institutions committed to building a more just, verdant, and peaceful world. In addition to selecting the MacArthur Fellows, we work to defend human rights, advance global conservation and security, make cities better places, and understand how technology is affecting children and society.

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John D. and Catherine T. MacArthur Foundation
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