
When to Consider a Program-Related Investment for Your Project
"Why would our organization want a loan from a foundation when we can have a grant?” This is the question the board chair asked the executive director when she proposed approaching a funder about a program-related investment. Of course nonprofit organizations would prefer non-refundable money, grants that never need to be repaid. After all, most nonprofit revenue comes from contributions and many nonprofits rely on foundations for these funds. However, as a growing number of