1 / 21

Mission & Program Related Investing Supply & Demand

Mission & Program Related Investing Supply & Demand. Objectives. Shared learning Overview of MRI/MDI – PRI Basics Share experiences and examples Time to discuss. Converging Stories of Philanthropic and Personal Impact. Phillip Wm. Fisher October 9, 2012. Converging Stories.

quana
Download Presentation

Mission & Program Related Investing Supply & Demand

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Mission & Program Related Investing Supply & Demand

  2. Objectives • Shared learning • Overview of MRI/MDI – PRI Basics • Share experiences and examples • Time to discuss

  3. Converging Stories of Philanthropic and Personal Impact Phillip Wm. Fisher October 9, 2012

  4. Converging Stories My father and his legacy My passion and life’s work Max M. & Marjorie S. Fisher Foundation Accelerating change in philanthropy Mission Throttle

  5. My father and mother Capitalist / Philanthropist Business leader Political leader Civic leader Family leader

  6. My Story Family office leader Capitalist with philanthropic values Transitions Meeting with the F. B. Heron Foundation in 2008 Leadership in the Foundation

  7. Accelerating Change in Philanthropy Shrinking government support. Social entrepreneurship Expanding the available resources in addition to traditional giving. The other 95%

  8. Accelerating Change in Philanthropy Mission Related Investing – merging the capitalist and the philanthropist heart.

  9. Accelerating Change in Philanthropy

  10. How I Began • First PRI: Starfish Family Services; Inkster, MI • L3C – Mission Throttle • Mission Related Investing • Alliance; Management Services • Web-based platforms • Investigating MRI/PRI resources • Kellogg, Rockefeller Philanthropic Advisers, Mission Investors Exchange (PRI Makers Network), Imprint Capital Advisers, Partnership for America’s Economic Success

  11. WKKF Mission Driven Investing (MDI) Program Related Investments (PRI) Panel October 2012

  12. Spectrum of Tools for WKKF Mission Impact No Financial Return Below Market Market Rate Grants PRI MDI Pure Philanthropy Mission-Targeted Low-Interest Loans, Guarantees, “Patient” Debt Mission-Aligned Cash, Debt, Equity

  13. Representative Investments in Food Across the Spectrum of Tools Sample Food Investments Grants PRI MDI Pipeline? NCBCI Food Access Loan Participation To Be Determined!

  14. WKKF PRI Criteria Today • Potential PRI investee characteristics: • WKKF-missioned aligned • Intermediaries • Recurring sustainable revenue model • Operating history and track record • Structure: • Loans • Term: Maturity between 7 to 10 years • Size: Minimum $500,000 • Interest rate: 1% • Principal amortization

  15. Northern Economic Initiatives PRI Case • Northern Initiatives is a CDFI based in the Upper Peninsula • Started out of Northern Michigan University in 1985 • Provides capital as well as technical assistance to small rural businesses • $2 million • 10 Year Program Related Investment loan • 1% interest • Leverages other sources of capital such as SBA and USDA program for greater impact • Bridges funding gap for loan origination • Capital can be recycled and redeployed multiple times over the life of the PRI

  16. The mission of the Max M. & Marjorie S. Fisher Foundation is to enrich humanity by strengthening and empowering children and families in need. • While remaining flexible in our approach, we give priority to: • Providing for the needs of and ensuring the future of the Jewish people, and • Respecting our legacy and commitment to the Detroit community. • Areas of critical importance include education, arts & culture and health with particular attention to HIV/AIDS.

  17. The internal mission of the Max M. & Marjorie S. Fisher Foundation is to strengthen family ties through philanthropy and service for others. • Established in 1955, endowed 2005-2007 • Assets $240 million, annual grant budget minimum $12 million • Board: Six members of first and second generations • Next generation giving effort began in 2010; total of 32 in Gens III & IV • Family retreat every other year

  18. How we began: • F. B. Heron Foundation presented to Board, April 2008 • Seeking out partners to share in the learning path • Working with investment council • First Board request March 2011 • Second Board request March 2012 to set aside 1.8% • First PRI – Hebrew Free Loan

  19. Hebrew Free Loan • Term: Seven years • Amount $200,000 • Interest: Zero • Purpose: Zero interest loans to families in need • Challenges: • Internal to Foundation • Internal to Hebrew Free Loan • Lessons learned so far

  20. Resources: grantcraft.org missioninvestorsexchange.org mdi.wkkf.org missionthrottle.com mmfisher.org

  21. Thank you!

More Related