Virginia Garcia Memorial Foundation
Topics: PRI
In 2011, Virginia Garcia Memorial Health Center used a $1.345 million Program Related Investment from Meyer Memorial Trust to refinance an existing debt related to the construction of its McMinnville Clinic. The PRI was beneficial in lowering the overall debt burden of the organization, freeing up resources to invest back into programs and services for vulnerable people in the community.
PRIs: What Do Nonprofits Think?
Topics: PRI | Program Officers
Last fiscal year, MMT offered PRI (Program Related Investments) Information Exchanges in Portland and Salem. Hacienda CDC organized Portland’s program. Mid-Willamette Valley Community Action Agency helped with Salem’s event.
Community Housing Fund
Topics: PRI
Content Area:
Human Services
Award Date:
Nov 1 2012
Grant Amount:
100000.00
Reason For Grant:
To provide loan capital to finance affordable housing projects in Washington County
City:
Beaverton
County:
Washington
State:
OR
Portland Children's Museum
Topics: PRI
Content Area:
Arts, Culture, Humanities
Award Date:
Nov 1 2012
Grant Amount:
350000.00
Reason For Grant:
To construct the Outdoor Adventure environmental exhibit on museum grounds in Washington Park.
City:
Portland
County:
Multnomah
State:
OR
LifeWorks NW
Topics: PRI
Content Area:
Health
Award Date:
Nov 1 2012
Grant Amount:
1500000.00
Reason For Grant:
To support the construction of a residential substance abuse treatment transitional housing facility for women that will be co-located with a drug-free permanent housing complex
City:
Portland
County:
Multnomah
State:
OR
Neighborworks Umpqua
Topics: Responsive Grants | PRI
When Johnny – and Jill – come marching home from war they shouldn't have to sleep in the woods. They have stepped forward, volunteering to put themselves in harm's way – for us. And, no matter the risks or hardships, they have served us well. No wonder the President has said that our nation's most sacred obligation is to its Veterans.
MMT's Take on PRI Metrics
Topics: PRI | Program Officers
Frequently,
we’re asked about financial metrics MMT considers when reviewing a request for
a program related investment. Consequently, we’ve added a Frequently Asked Question with a table that outlines PRI metrics we analyze.
What key indicators are considered when assessing an organization’s financial strength?
Topics: PRI
For sectors that have financial performance benchmarks, such as community development financial institutions (CDFIs) and Federally Qualified Health Centers (FQHCs), we ask the organization to provide their most recent and historical financial benchmarks, which typically is reported on a “dashboard.”
The Freshwater Trust
Topics: PRI
Content Area:
Conservation, Environment
Award Date:
Jul 1 2012
Grant Amount:
300000.00
Reason For Grant:
For a loan guarantee and grant to increase the pace and scale of stream and river restoration
City:
Portland
County:
Multnomah
State:
OR
Clark County Food Bank
Topics: PRI
An $800,000 PRI and $200,000 grant from MMT in 2011 allowed Clark County Food Bank to build a 22,000 sq. ft. warehouse, offices and training facility to open up many more food options in Clark county. The new warehouse and refrigerators allowed for the first ever full truck
of oranges to be received, repacked and sent to hungry families. Before this facility, the food bank often had to reject available food shipments as there was no room to receive, sort or store food. From its opening in December 2011 through August 2012, CCFB was able to enlist 700 volunteers to help process approximately
250,000 extra pounds of fresh, frozen & dry food in the new building. The new space also has a repack room, allowing CCFB to break down product quantities into useable sizes for partners (instead of giving them bags of 25 to 50 pounds that had to be repacked later). Photo credit: Clark County Food Bank
Mosaic Medical
Topics: PRI
Meyer Memorial Trust's grant of $169,586 and loan for $300,000 enabled Mosaic Medical to upgrade and implement Electronic Health Records (EHR) systems in each of its Federally-Qualified Health Centers in Prineville, Madras and Bend that provide primary medical care to uninsured patients and those with Medicaid or Medicare coverage.
The Freshwater Trust
Topics: PRI
In May 2012, Freshwater Trust finished planting thousands of native trees and shrubs along Little Butte Creek in the Ken Denman Wildlife Area near Central Point in Jackson County, Oregon. Little Butte Creek had recently been re-meandered by the Oregon Department of Fish and Wildlife (ODFW) to connect with its historic channel, but ODFW had no funds to replant the reconstructed banks. Working with the US Forest Service, Freshwater Trust selected this site to support ODFW’s prior work and to demonstrate credit generation though riparian plantings. Meyer Memorial Trust's $150,000 grant and $300,000 loan guarantee supported the infrastructure to demonstrate its "ecosystem services" program (e.g., shade from streamside trees shading water) that quantifies the temperature reduction value generated by riparian restoration as credits that can be traded or purchased by entities facing offeset or mitigation requirements. Credits are determined by Steambank, Freshwater Trust's patented web-based software platform developed with significant investments from Meyer Memorial Trust. The "ecosystem services" program is the first of its kind to use a state-approved system that can be applied to all Oregon watersheds. Photo credit: The Freshwater Trust (copyright held by The Freshwater Trust and not included in MMT's Creative Commons license of website content)
More Than a Mean Grant
Topics: PRI | Program Officers
Most nonprofits see foundations as only a source of grants. But MMT has
another important, but lesser known, tool for helping organizations with
a charitable purpose: Program-Related Investments (PRIs).
40 Vernonia homes rise above flood stage
Topics: PRI
The Wolfe home in Vernonia after elevation using construction loan funds made possible by a PRI from Meyer Memorial Trust.
Morrison Child and Family Services
Topics: PRI
Content Area:
Human Services
Award Date:
Feb 1 2012
Grant Amount:
500000.00
Reason For Grant:
For a grant and a program-related investment to refinance the purchase and renovation of the Morrison Building that consolidates departments and programs for improved services to children and families
City:
Portland
County:
Multnomah
State:
OR
Why does MMT seek security for loans?
Topics: PRI
Seeking collateral, when possible, is a guiding principle in prudent
lending and in accordance with our value of stewardship. While
obtaining collateral is a tool in our due diligence, we also recognize
external factors can negatively affect repayment and unexpected borrower
problems may emerge. In such cases, MMT works with organizations to
develop a reasonable repayment plan. We do not aggressively seek to
foreclose on the loan to the harm of the nonprofit.
Does MMT offer PRIs to government agencies?
Generally, no. Financing of public sector projects is best fitted to government agency budgets and taxpayers in communities served by those agencies.
Umpqua Community Development Corporation
Topics: PRI
Content Area:
Human Services
Award Date:
Nov 1 2011
Grant Amount:
1750000.00
Reason For Grant:
To provide a grant and construction loan to build Eagle Landing, a 54-unit affordable housing complex for homeless veterans.
City:
Roseburg
County:
Douglas
State:
OR
Virginia Garcia Memorial Foundation
Topics: PRI
Content Area:
Health
Award Date:
Nov 1 2011
Grant Amount:
1344000.00
Reason For Grant:
For a grant to help build the Cornelius Wellness Center and a program-related investment loan to refinance the McMinnville Clinic to increase access to health care for low-income, underinsured and uninsured patients.
City:
Hillsboro
County:
Washington
State:
Other
Eugene Ballet
Topics: PRI
Content Area:
Arts, Culture, Humanities
Award Date:
Jun 1 2011
Grant Amount:
400000.00
Reason For Grant:
To help stabilize the financial condition of the organization by restructuring its loan on the Midtown Arts Center, which provides a permanent home for the Eugene Ballet and several arts organizations
City:
Eugene
County:
Lane
State:
OR
The Conservation Fund
Topics: PRI
Meyer Memorial Trust provided a Program Related Investment loan of $500,000 to The Conservation Fund, which was used along with Oregon Lottery proceeds and grants from the Forest Legacy Program, to work with the Oregon Department of Forestry on purchasing 43,000 acres to form the state’s newest state forest. Located in central Oregon’s Klamath County, the property was selected because of immediate threats from development, its potential economic benefits and strategic importance, as well as its good value. The forest is important habitat for species such as mule deer and white-headed woodpeckers, and purchasing the property enables it to be restored back to ecological health, while supporting the forest products sector, providing public recreation opportunities, and creating a lasting legacy of environmental stewardship and community investment.
Clark County Food Bank
Topics: PRI
Content Area:
Human Services
Award Date:
May 1 2011
Grant Amount:
800000.00
Reason For Grant:
To help construct a new facility to house an expanded food bank for Clark County, WA
City:
Vancouver
County:
Clark
State:
WA
Oregon Microenterprise Network
Topics: PRI
About the Photo: A microloan from Oregon Microenterprise Network enabled Andrea Moore (pictured at right, with her daughter beside her) to purchase a trailer to provide dog grooming services in Polk and Yamhill counties. MERIT (MicroEnterprise Resources, Initiatives, & Training), a nonprofit co-located at the Chemeketa Small Business Development Center in Salem, worked with her to qualify for the loan, represented here by Executive Director Marcia Bagnall (pictured at left). After she repaid the loan she received a second loan ("step" loan) from OMEN to make repairs and upgrades to her trailer. Photo credit: Valerie Plummer, Oregon Microenterprise NetworkOregon Microenterprise Network (OMEN) used a $100,000 program related investment loan from Meyer Memorial Trust to provide lending capital to low income entrepreneurs in rural Oregon. In addition, OMEN used a $36,000 grant to provide technical assistance to its member organizations to strengthen business support for microentrepreneurs. The CapitalLink loan program of Oregon Microenterprise Network meets the demand for microloan capital in areas of rural Oregon. For more information about OMEN’s CapitalLink program, see http://www.oregon-microbiz.org/programs/capitallink/.
PRIs – A Growing Alternative Philanthropic Tool
Topics: PRI | Program Officers
Created by Congress in the Tax Act of 1969, a PRI (program-related investment) is a type of mission-related or social investment that foundations make to achieve their philanthropic goals. PRIs can take many forms – deposits, equity investments, guarantees and loans, to name to few. At MMT, most PRIs have been loans.
ShoreBank Enterprise Group Pacific
Topics: PRI
Content Area:
Conservation, Environment
Award Date:
Mar 1 2011
Grant Amount:
4000000.00
Reason For Grant:
To establish a loan fund for land trusts to acquire land and secure conservation easements
City:
Ilwaco
County:
Pacific
State:
WA
