PRI Content

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.

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

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.

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.”    

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

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)

The Wolfe home in Vernonia after elevation using construction loan funds made possible by a PRI from Meyer Memorial Trust.

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.

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

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

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

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.