PROGRAM RELATED INVESTMENTS
As an impact-first investor, the highest return we seek is social impact to advance our grant making strategies as they relate to our strategic goals. We envision a future where deeply meaningful and innovative investments are integral to philanthropic funders’ work and prevalent throughout the program related investing field.
Program-related investments (PRIs) are a statutorily defined exception in the Internal Revenue Code to the rules prohibiting private foundations from making “jeopardizing investments.” PRIs can take many forms, including loans, equity investments, bank deposits and guarantees. PRIs must be made for the primary purpose of accomplishing a charitable purpose and not primarily for financial gain. In practice, this means that the PRI will have an interest rate or financial return objective that is lower than prevailing market rates for loans and investments of similar duration, credit quality and risk.
WHERE WE INVEST
Dog and Cat Homelessness
We fund programs/projects that increase adoption market share, increase owner retention or expand spay/neuter programs in non-traditional ways.
We fund programs/projects that identify solutions, build partnerships and develop strategies to help horses, or programs that increase adoptions or increase owner retention.
We fund programs and projects that work to find alternatives to end inhumane horse slaughter and puppy mills.
We fund projects that elevate animal welfare as a social movement such as data research, case-building, leadership building or coalition building.
Funded Program Related Investments
WaterShed Animal Fund © 2019