Whether you represent a family foundation or trust, a community or corporate foundation, a Florida-based foundation or an out-of-state foundation, the Loan Fund can help you meet your philanthropic objectives.
Foundations can make both grants and investments in the Loan Fund.
Our foundation supporters and investors provide us with core capital that makes the Loan Fund's mission, operations and lending possible.
Grants
Contributions by foundations to the core operations of the Loan Fund helps provide important and "free" technical assistance to small community based organizations and helps develop special lending initiatives to meet urgent community development needs in such areas as childcare, rural housing, and faith based community development.
Program Related Investments (PRI)
This type of investment is generally made to the Loan Fund out of the endowment assets of an independent or family foundation because the foundation considers the Loan Fund's mission and work to be integrally related to its own program interests.
PRI's made by foundations are fully recoverable, low-interest paying, debt capital investments in the Loan Fund. The term and interest rate of a PRI is generally determined on a case by case basis and structured as a combination of investment and grant support. The Loan Fund currently holds a $1,000,000 PRI from The John D. and Catherine T. MacArthur Foundation.
Because the Loan Fund exclusively serves socially and economically disadvantaged communities with both loan capital and technical assistance, we have developed a broad network of contacts and experience in partnering with community based organizations throughout the state.
We understand community needs and borrower demand for affordable housing, economic development and essential social services in both urban and rural communities in nearly all of Florida's minority and ethnic communities.
A program related investment made in the Loan Fund is typically matched on a 4:1 basis quadrupling, the impact of every dollar contributed.
Foundation grants generally range in size from $2,500 to as much as $300,000, and may include a matching fund equivalent.
This opportunity is taken to express my gratitude for your efforts, particularly with low-income families, farmworkers, disabled veterans and others in need.
Frank J. Dewane, Bishop of the Diocese of Venice in Florida, 8/10/2009
