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.
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.
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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 »
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
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